How To Take Control Of Your Financial World - Becoming Your Own Banker in Canada

Okay, welcome everybody to another introduction to the process of becoming your own banker, the infinite banking concept. I'm your host for this evening. My name is Jason Lowe, ascended financial CEO. And I'm just so glad that you're all here with us and so really appreciative that you took the time out of your busy schedule to join us. And we look forward to a really fun and informative evening with you. One of the things that I'd like to ask everyone just as quick, Housekeeping, you're going to see that there is a Q and A window at the bottom of your Zoom meeting panel. And so questions will come up for you this evening and I would encourage you to please type them into the Q and A window. Now, we do have a chat function and the chat function is live for the entire webinar. So please feel free to go in, chat, communicate with one another on the webinar. Sarblo is going to moderate the chat and the Q and A so that we can make sure that all of your questions get answered and that you also get to enjoy some dialogue with other attendees on the webinar. That sound good? If you can hear my audio. Okay. And see my video.

Okay.

Just give me a sounds good. Go ahead, type it into the chat window there.

All right. Okay. I'm just going to share my screen and we'll get, we'll get this evening underway. This is going to be a lot of fun.

All right.

What a peaceful, stress free way of life it is when you get the banks out of your life.

Such a remarkably true statement made by an amazing man, R. Nelson Nash, the developer, the pioneer, the founder of the process of becoming your own banker. This evening on the webinar, you'll know that you are capable of becoming your own banker. I promise you, you'll get clarity on the problem. You'll know exactly what to do. You'll feel hope and belief that this is the way to create a peaceful, stress free financial life. And we know that you've been told by others to put your money away in things like retirement accounts, mutual funds, stocks, gold, silver.

You've put your money in prison and then you go to someone else's bank when you need access to more money. Doesn't make any sense. It's absurd. I'm telling you that if you've been handing control of your money over to someone else, you may not be in the best situation right now. But I also want to let you know it's not your fault. We've all had people influence us as it relates to money over the course of our lifetime, whether it was a mentor, a neighbor, a colleague, a family member, someone in your life who has provided you with direction as it relates to the use of money. And what we've seen over the past 13 years that we've been helping people to implement this process is that what most people have been conditioned to do is to take money that they earn and then hand it over to someone else who thinks that they can do better with it than you can. And it doesn't have to be that way. But the first thing I want to do is applaud you all for being here. You could have been doing something else with your time. You're so committed to discovering the process of becoming your own banker. You're committed to radically improving anything that you're already doing financially, that you're giving up other things to be here with us. And I just want to applaud you for that commitment. Personally, I discovered the path to a peaceful, stress free financial life the hard way and I just want to stop my screen share here for a moment and just get a little bit up close with all of you.

I'll start with this.

You and I'm talking to each and every one of you on our webinar. You deserve a Life of no regrets. It was September 2006, 7pm in the evening in Sherwood Park, Alberta. I was standing in an empty, dark living room, staring out at a SOLD sign on the front lawn. Now you are my invisible partner standing right next to me. I was feeling like a failure. I was feeling stressed and defeated. I would never have expected to be here after doing all the right things financially.

How was it possible that doing everything right got me here a few years before? I was 30 years young. I was married, had a mortgage. I was very ambitious about my future and up to that point in my life, I was doing all the right things according to mainstream financial advice. Over the course of the next few years, life decided to hand me several big challenges all at once. My first marriage was over, I was deeply in debt, on the brink of financial ruin, and I endured the unexpected passing of my mom and dad. Some of the most stressful events you can experience over a lifetime happened to me in just a few short years. Standing all alone in that dark, empty living room, I didn't know who to turn to for help. If you were in that situation, what would you have done?

Just when I felt like I hit rock bottom, I remembered something that my late father used to say son, don't ever Be found guilty of giving up on yourself. So I made the decision to take control of my Life. And in 2008 I was contacted by a friend. Matt was a very successful and established business owner at that time, still is today. And he invited me to attend an event and the topic was the process of becoming your own banker. The infinite banking concept. I didn't have the money to go, but being determined to find answers, I decided to do whatever it took to get there. I took action. I left that conference believing that everyone should hear this process. I began to implement this process in my life and everything changed for the better. Today I am remarried to my beautiful wife Rebecca. We have four young children. I am no longer stressed financially. My family and I are in total control of our money and we are no longer worried about the ups and downs of markets. And because of this process, my family and I will never have another bad financial day in our lifetimes. While I am alive and after I am gone, I believe that financial control and power should be in your hands. Not the banks, not the government, and not a risky stock market. And so in the next hour, I'm going to take the past 12 years of time, money, energy that I've spent on becoming an expert at this process. I'm going to show you exactly how I've helped thousands of people just like you to build your peaceful, stress free financial way of life. Does that sound good? Give me a heck yeah. If that sounds good to you, go ahead. Type that into the chat window.

All right.

Love it.

Okay, let's dive in. Let's have some fun. Now I'll say this.

Most people believe that they need someone else to take care of their money.

Has that ever been something that you've believed? Most people believe that it's necessary to risk their money in order to grow it. That's what all the financial entertainers will tell you. And most people know next to nothing about the process of banking and its importance to their lives and to their well being. Here's the truth, the difference between you getting stressed or staying relaxed financially. Who controls the banking function in your life? You don't have to put your money in prison for decades and rely on someone else to achieve the financial abundance that you deserve today.

You don't have to be rich to become your own banker. Now, who is this process for? I'll start by sharing that anything that you're already doing financially is radically improved when you introduce this process of becoming your own banker. So whether you're an entrepreneur and business owner, an investor A high income earner, whether you're inexperienced or experienced in retirement, or planning for retirement, an individual, a family, whether you're in debt and looking for ways to reduce or eliminate that debt.

Regardless of what you're already doing financially, or what you're even contemplating doing financially, this process of becoming your own banker will radically improve that. It's important to share how this process began. R. Nelson Nash the developer, the pioneer the process of becoming your own banker in the early 1980s. Some of you on the webinar may be aware of this. In the early 1980s, when inflation skyrocketed, interest rates peaked at 21.5%. And so Nelson found himself in a very bad situation financially because up to that point he had borrowed a lot of money from the banks to invest in real estate. So there were a number of financial gurus who were saying, if you purchase real estate, and even better if you use someone else's money to do it, real estate can only go up. Nobody told Nelson what would happen if the interest rate lever went the other way. And so he found himself in a really bad spot financially, where he owed a half a million dollars in mortgage debt and interest rates having peaked at 21.5%. He owed a lot of money to the commercial banks just in interest payments. And so naturally people were sharing with Nelson, why don't you just sell the real estate? And he kept thinking to himself, what fool is going to buy this real estate from me based on the current lending environment if everyone is saying use someone else's money? What Nelson didn't realize at the time is that the solution to the problem that he was experiencing was right in front of him. He didn't realize at the time that because he had already accumulated a pool of dividend paying, participating whole life insurance policies, nobody explained to him how life insurance companies worked, how commercial banks worked. The solution to the problem was right there. He could get easy ready access to capital from the life insurance companies in the form of policy loans at 8%, knowing that he was owing 21.5% to the commercial banks. And it just, he described it when he was still with us. Sadly, we lost him in March of 2019, but he described it like getting hit in the face with a two by four. Once he understood the problem and the solution became clear to him, he knew exactly what he needed to do. He had to crank up even more life insurance policies, large premiums, build a pool of accessible financial value, and access capital from the life insurance company without interrupting any of his own pool of Financial value that was growing every single day inside these policies. And it took him 13 years to get rid of what he called the snakes and dragons to get rid of the banks. So rather than filing an assignment in bankruptcy, rather than succumbing to the problem, he recognized that the solution was right in front of him. And once he understood it, he knew exactly what he had to do. And it took him 13 years to get rid of the banks, to get them out of his life forever. And since that time, his wife, Mary and Nelson, and by extension their family, did not see a commercial bank for anything other than the convenience of debit for the rest of Nelson's lifetime. And now for the rest of his family's lifetime, There are no loans in his family that are outside the family banking system. They don't rely on a commercial bank for anything other than the convenience of debit. How would that make you feel if you didn't have to rely on a commercial bank for anything other than the convenience of debit? Go ahead and share your feedback in the chat window.

All right, now, we know that everybody needs a heart. Would you agree? Probably pretty important. Without one, you don't live unless you're plugged into a heart and lung machine. This is exactly what happened to Nelson. Many years ago, he had to undergo quadruple bypass surgery. He had to have his heart replumbed in four different places. And what he obviously what had to happen is he had to be put under for that procedure. And what he had shared in his recollection of that whole experience was that he said, you know, when I was on that heart and lung machine.

I didn't really feel alive. I was just existing.

And so when you think about banking as the most important business in the world and that the banking system, much like the human heart, pumps blood to where it's needed, the banking system pumps money to where it's needed. And at some point, it flows through your hands and mine. Right. I share with people all the time. You know, the money that you have in your purse and your wallet isn't your money. You're just next in line to spend it. And so where does the money all end up? It ends up right back in the banking system. And what Nelson described is that at that time when he was undergoing surgery, he wasn't controlling the heart function and the lung function. Someone else, another device, was controlling that function for him. The issue here is how much of the banking function do you control as it relates to your needs? Now, another important, fundamental thing to understand is that there's only one pool of money in the world. Money flows from the pool, through our hands to meet our needs. But somewhere in the process it all ends up right back in the banking system. So remember, there's only one pool of money in the world. And what Nelson saw was he was pumping money into the pool the wrong way. He had to go through bankers, through toll takers, gatekeepers who were all making money off of him and abusing him. Has that ever happened to you? He realized that what he needed to do was crank up large life insurance premiums in dividend paying, participating whole life policies in order to have the platform to implement the process which, which we now know to be. Becoming your own banker, the infinite banking concept and what you're going to discover more about here tonight. Well, you can't get it done overnight. This is not a get rich quick scheme of any kind. It's not a light switch transformational process where you can flip a switch and everything is different for you tomorrow. This is a process that takes time. And remember, regardless of what's going on in the economy, regardless of, regardless of what's going on with interest rates, regardless of what's going on in the real estate marketplace or the stock market, the process of banking must go on and it carries on no matter what. And so someone has to perform that function in your life. It can be and it should be you, but you have to get it done incrementally over a period of time. Now when Nelson taking you back to the early 1980s when he started to share with people the solution to the problem that he was facing, everyone thought he was crazy, including his own wife, Mary. But I'll share with you that when we lost Nelson In March of 2019, he left no debt behind to his family. His estate was clean.

No member of his family will ever have a bad financial day for the rest of their lifetime. And they continue to not be reliant upon commercial banks for anything other than the convenience of debit. Isn't that good?

Now it's important to understand that there are four characters in the financial play and I'm going to be referencing them throughout tonight's webinar. The first character in the play is the depositor. The depositor is one of the four characters that you presently play in your financial play. The second character is the borrower. The borrower is the most important character in the play. Without the borrower, nothing else can happen. The third character is the banker and the fourth is the bank owner. Now for 99.99% of the people that we meet, they are only two of the four characters in the financial play. When you become all four, you not only accumulate indestructible wealth and a pool of financial value that can't be lost to any risky stock market or to any government or to any market risk, but you also keep the money flowing back to your family versus flowing away. Now, you may have heard this golden rule. Those who have the gold make all the rules. That's something that you may have heard at some point throughout your lifetime, people have abdicated their opportunity and more importantly, their responsibility as it pertains to the banking function in the economy. They're depending on someone else to perform that job. And that character in the play is the one who's making most of the money, and rightly so. Because of the golden rule, those who have the gold make all the rules. So what you've been conditioned to do is to have all of your money reside inside of the commercial banking system where they possess the gold. So they make all the rules. You transfer your money away from you to invest it in things, to hand it over to someone else who thinks they can do better with it than you can. And then when you need access to more capital, you have to go through the gatekeepers, the toll takers, the bankers, to access someone else's money. It doesn't make any sense. The person on the street in Canada today, in fact understands the subject so poorly that they're doing the equivalent of living off of a heart and lung machine. It's absurd. What I want to talk to you about in tonight's webinar is how to create a system in which you can control everything about the banking equation as it relates to your needs. Now, this book, titled Becoming youg Own Banker, unlock the infinite banking concept. Over 400,000 copies of this book have sold for a reason. And you're going to receive a link. It'll either be text message to you, emailed to you, and that link is going to point you to purchasing your own copy of the book. If you don't yet have a copy of this book and you haven't yet read it, you have an opportunity. This book was written for you. It was not written for me or for any of my teammates or anyone else in North America who talks to people about this process. R. Nelson Nash wrote this book for you. And so at any point during the webinar, if you find yourself thinking, hey, I gotta get my hands on a copy of this book and like Jason said, add it to my library. Just ease on over to the link that you are going to receive via text or email and get a copy. We sell it and ship it for less and less than Amazon, less than anywhere. And we'll ship the book anywhere, Canada. And on this webinar, we're going to have some fun. Now, the very first principle that must be understood, Nelson used to share often, is that you either pay up or you give up. So you either pay interest to access someone else's pile of money or you give up the interest that your money could have earned otherwise. So think about this. Over the course of your lifetime, everything that you spend money on doesn't matter what it is. It involves a transfer of money away from you. And when you transfer your earned money away from you, how much interest can you earn on that money for the rest of your lifetime? And for every generation that comes after you, the answer is zero. You've permanently transferred the money away. And so when we meet with people and we ask, how much money do you make? And a person says, oh, you know, I make $100,000 a year. Well, you don't make $100,000 a year. You're only handling $100,000 a year. Your money has to reside somewhere. And you'll know, as I already know, that there's no better place to have it reside than here. Once you get through the rest of the webinar, I promise you, the whole idea, the whole essence of the process of becoming your own banker, this is all about how you go about financing the things in your lifetime. Now, when I say financing, I'm talking about paying cash. I'm talking about leasing, I'm talking about borrowing capital. Because even when you pay cash for things, you're always working with borrowed money. Remember, you either pay up or you give up. That's something that we refer to as a phrase that pays. You either pay up or you give up. So you may want to capture that if you're taking notes this evening. Now, when you think about all the major items that you need throughout the course of your lifetime, vehicles, properties. If you're a business owner, maybe you want to expand your business, purchase another business, add equipment, add people, add technology. Think about the current state that we're in right now with COVID We've had an incalculable number of clients contact us and say thank you. Thank you for all that you did in sharing this process with us, because we are not going to go hungry. We're not going to have to lay off any of our Team members.

We're going to.

We're not going to have to shutter the doors on our business. We're not going to have to look inside an empty pantry when we walk into our home. We are going to be okay. Because they've accumulated this pool of financial value and they had ready access to capital. They didn't have to defer payments, capitalize payments, which only benefits the bank in the long run. They had total and absolute control. You can be in that position, too. The whole objective here is to keep the money in the family and, and to not have it flow away from you, understanding that your money must reside somewhere. So the real question is, how much of the banking function do you control as it relates to your needs? Someone must perform this function of banking in your life, and it should be you. Now, this process is not an either or. So Nelson never shared that you should put your capital into real estate or you. You should implement the process of becoming your own banker. You should invest money in stocks or you should practice the process of becoming your own banker. This is not an either or. This process is not about addressing the yield of an investment. It's all about how you finance the things in your life which can certainly include investment. So as you're discovering more about this process and on your journey, understand and please remind yourself this is a process. It's not a product. It's not something that you invest in. This is a process that becomes a lifestyle. And once it becomes a lifestyle for you, everything changes for the better. We're living proof of that. We haven't had a single client call us once in 13 years to say, I'm really frustrated that my pool of financial value keeps growing every day. Even though the economy.

Expanding and receding, even though the real estate market is rising and falling, even though the stock market is rising and falling, your pool of financial value continues growing daily, no matter what. Now, let's talk about getting into the grocery store business. Now, as I say on every webinar, you might be thinking at this point, wait a second, I thought I was coming to learn about a process of becoming your own banker. Why are we talking about getting into the grocery store business? Bear with me. This will become very clear in just a moment. So let's think about this for a second. Let's presume that everybody on the webinar has decided to get into the grocery business. Well, a few things need to happen. We need to first consider that this is a business in which you are both the consumer as well as the seller of A product. So think about the banking business. If you become your own banker, you're going to become both the consumer and the seller of a product. It's called money. Now, your market's unlimited. Everybody needs to eat, and most people get their food from the grocery store. And think about your life as it relates to the use of money. Someone or some organization has control over a growing pool of financial value that has to flow at a cost to meet some need. So we're making a connection here.

Someone's got to perform that function of distribution. Now, you got to study the business for a few years. Thank goodness you don't have to study the banking business for a few years. We'll get that done with you here this evening. You have to purchase a superior location. Nobody's going to an industrial park to do their grocery shopping. You got to build an attractive building and then you've got to stock it with high quality merchandise. Now, tonight's webinar is going to be a little interactive. So I'd like you to let me know. How much money have you made in your grocery store business up to this point? Go ahead and type that in the chat window.

Zero. Yes. You got it. None. AJ Says zero.

Will Roscoe, zero. You've only got setup costs up to this point.

George says nothing. Negative equity. You got it. So up to this point, you have made no money in the business. You put a lot of capital in, but you haven't earned anything yet. So you got to turn the inventory. Imagine if you walked into the grocery store that you love to shop at and no inventory was turning over. The milk wasn't selling, the bread wasn't selling, the butter wasn't selling. What's going to happen to all of that product? It's going to spoil. And so the inventory must turn over. Just like in the banking business, money that sits still isn't worth anything. The bank cannot let capital sit still. That's a liability for the bank. And so the bank has to put that capital to work. To benefit who? The depositor? No, to benefit the borrower. If the borrower qualifies to access the money, it's to benefit the bank owner, that's the stockholder of the bank. And so remember the four characters in the financial play. We've got the depositor, the borrower, the banker, the bank owner. Now, if you turn the inventory in your grocery store business 15 times, you'll break even. If you turn it 17 times, you'll be profitable. If you can turn the inventory 20 times per year, you can retire early. Now, think about how capital is moving through the banking system. When you see money deposited into your account.

That'S not really money that's been deposited into your account, you're just a unsecured creditor of that bank. The money doesn't show up until you ask for it or you transact it. And so ask yourself this question. If you can take control of that function as it relates to your needs, is that going to represent an advantage to you or a disadvantage to you financially? Is it going to take away any of your options? Okay, think about this. We receive inventory. Now we're going to talk about a can of peas. Thank you, Sarblo, for the amazing prop. This really helps for the webinars. I really appreciate it. Now, this is a can of peas that we receive through the back door of the grocery store that we all own. Now, we know that we have to get that can of peas on the shelf and that there's going to be a ready access buyer, somebody who is coming into the store for this can of peas, and we sell it for 60 cents. Now, most people have no idea how narrow and slim the margins are when with certain products in the grocery store. And with this can of peas, we purchased it directly from the wholesaler for 57 cents. When we sell it at 60 cents, we've made three pennies. Right? Pretty easy math. Well, let me ask you this question. Knowing that you're the owner of the grocery store, if you had the option, if you needed a can of peas and you had the option to either walk out the back door with the canopies because you're the owner, you call the shots, or you had the option to walk out the front door with the canopies going through the cash register.

Of course.

Which option would you choose? Would you choose going out the front door or the back door? Go ahead and type your response in the chat window.

Okay. Vern says front. Thank you. Vernon Sarblo says front. Peter Front.

Nephi, I hope again I pronounced that properly. Front door. Okay. Nobody's chosen the back. Okay, Excellent. You're all very, very responsible business owners. Because if you took that can of peas and you walked out the back door, and you know that you could have sold it out the front door for 60 cents, you need to sell 20 cans of peas just to make up for the one can that walked out the back door. And if your employees see you doing this, what are they going to do? They're going to mirror that behavior. And it shouldn't surprise you that Whether it's in the grocery store business, the retail business, that the majority of theft is internal from the owners and the employees. Now think about this as it relates to the process of becoming your own banker. If you create your own growing pool of financial value and you access policy loans from the life insurance company to take care of all those things that you would have otherwise paid cash for, leased or financed through someone else's system, and you're not paying anything back, that's the equivalent of taking the capital out the back door. That's a very polite description of theft. Now, if your family sees you taking care of the family banking business that way, what are they going to do? They're going to mirror that. So we have to be honest bankers when we create our own system. No different than if you were running a grocery store business. The only way that you're going to prosper and continue operating for many years to come is you have to be an honest business owner. You need food just like all your customers do. And when you need that food, you should be paying retail just like your customers do. Now, when you thoroughly understand this process, you'll understand that not only should you pay retail, but you should put a few extra pennies in the cash register. Because if you put 62 cents in versus 60 now, your grocery store business has more capital. And the grocery store can purchase more inventory to satisfy the demand for food. So you have more customers shopping at your store buying more product, you're putting more capital in the cash register to enable your business to buy more product to satisfy the needs of more customers. It's the very same thing as it relates to becoming your own banker. When you have a policy or a system of policies in place, you become a part owner of the life insurance company. And so when you're repaying policy loans, don't simply repay the simple interest that's accrued on the policy loan. Put a little bit more, a few extra pennies into the cash register to enable your business to multiply more capital. How many of you have ever read a headline on cnbc, the Wall Street Journal on Bay street of a business failing because it had too much money? The more capital you put into the system, the more capital you're going to get out. Now, the process of becoming your own banker is ridiculously simple. Nelson used to share often that it does not need to be sensationalized. So now that you've been through the grocery store example, I hope that you'll join me in understanding this. Don't steal the piece. So when you hear me describing that a little bit later in the webinar, you'll be able to reference the grocery store example. Once you understand the grocery store example, the rest of this concept is ridiculously simple. If you don't understand the grocery store example, go back and revisit it in Nelson's book, becoming your own banker. All right, now, if we don't understand the problem, the solution just won't matter. So let's spend a little bit of time framing up the problem together. Who is the banker in your life today? I want you to take a moment and think about that. Who is the banker in your life today? Now, to understand the simplicity of the banking system, whenever a transaction takes place, money must flow from one party to another. So think about when you want to purchase something, the money has to flow from you, the buyer to the seller. The intermediary is the banking system. Otherwise, if that doesn't occur, nothing happens. So that's what the essence of the banking process and the banking business is all about. Someone or some organization has control of a pool of money that can and must flow at a cost to meet some need. That money comes out of and ends up right back in someone else's bank. I say that again. Someone else's bank. Now think about your own financial circumstance and your own financial structure. Today, you're earning money. Whether it's T4 income, dividends from a business that you own, or have an ownership interest in rental income, interest income, you're earning income from somewhere. That money gets deposited into someone else's bank. Think about your paycheck. The bank sees it before you do. You're the one that did all the work, but the bank saw the money before you did. Now, when that money lands in the account, you're taking care of bills, you're purchasing goods and services. Your money ends up right back in someone else's bank. This all results in a constant and permanent transfer of money away from you. And remember the expression I shared earlier? You either pay up or you give up. So every payment that you make, every transaction that you conduct is a deposit into someone else's bank. And you permanently give up the opportunity to earn interest on that money. In other words, you're doing all the work and everyone else is getting all your money. How many of you on tonight's webinar want to change that? Go ahead and type in the window. In the chat window. Me.

All right, now we've got the debtor and the saver. Okay, now these. I want to draw a distinction Here, between the debtor and the saver, the first thing to understand is that this person, the debtor, they see the interest because it's part of their payment. So this zero line is where the debtor began. Now, let's say the debtor needed some money to go buy a vehicle. The debtor borrowed the money from someone else's bank. So they start with a negative balance. They have to make payments back into someone else's bank, and they don't owe it. They don't own anything until they've made the final payment. Every payment is a deposit into someone else's bank. Now, they can see the interest component because that's what forms a part of their payment. And for many people, they repeat this cycle throughout the course of their lifetime, always ending up right back at the zero line having to borrow money again. And they repeat that cycle over and over and over. That's a constant and permanent transfer of money away from you. Now, the saver, the saver is someone who says, I don't go into debt. I was taught not to go into debt. So what I do is rather than go into debt, I pile up money in someone else's bank. So I'm making deposits into a savings account, and I pile up the money that I need for the very same car, I have to withdraw it. So I end up right back at zero, just like the debtor did. And then I have to immediately begin saving for the next car. And so is there any difference between the debtor and the saver? Did any one of those two come out farther ahead than the other? The person, the saver, does not see the interest that they're giving up the opportunity to earn. So when you think about using capital and you need to access it from someone else, the first thought that comes to your mind is, how much interest am I going to pay? But if you're saving money and then withdrawing it and spending it to buy the very same item, I would wager that you haven't sat down and done the calculation or even asked yourself the question ever in your lifetime. How much interest am I giving up the opportunity to earn? How much interest are all future generations that come after me giving up the opportunity to earn? Make sure you're sitting down like I am when you do that calculation. Both methods are a permanent transfer of money away. That's a problem. Every payment you make is a deposit into someone else's bank. The solution is the process taking control of that banking function as it relates to your needs. Fundamental truth. Your money must reside Somewhere. So let's go through a fun thought experiment here. Now here's. Let me frame this up for everybody. If you could invent a type of asset from scratch, okay, so I'm giving you a clean slate and this asset that you get to invent, it has absolutely no drawbacks whatsoever. What would it look like? Now I'll give you a couple of thought starters, some of the most frequent responses that we receive. It has to have a high rate of return and it has to be safe. So those are two thought starters I'd like for you to type into the chat window. What other attributes would this perfect investment have to have? If you had the opportunity to create this asset from scratch and there's no drawbacks whatsoever, go ahead and type it in.

Okay. Sarbill says access to capital. Dan says liquidity. George says no risk. Nephi says liquidity. What else? Ahmed says growth. Thank you, Ahmed.

Let's get a few more.

Go ahead, just type in the chat window. Peter says consistent return. Melissa. Melissa says easy to manage. Thank you, Melissa. Liz says tax free.

Joseph says growth. Let's get a couple more, Dan. Ellen says creditor protected.

Okay, we'll take two more. Vern says death benefit. Troy says compounding daily. Okay, thank you everybody. Thank you for participating in this fun thought experiment. Now let's go through because over the years, as often as we've asked people to participate in this exercise, here are the most frequent responses that we received and they also featured in the book titled the Case for ibc. Thanks to Carlos Lara for creating this fun thought experiment. Here are the attributes that come up most often. The first is a high rate of return, a consistent rate of return, conservative and safe. Liquid guaranteed tax benefits or even tax free. No market volatility yields income besides capital gain. Creditor protected, inflation protected, control transferable, easy to manage, no hidden fees or penalties. Reputable and private.

Now for your own various assets that you have today. Simply identify which of the features from this list that your assets do well on and which of the features they fail to satisfy. Just take a moment and process that all the assets that you own today.

Identify what features on the list those assets do well on and which features they fail to satisfy.

I've got a surprise for everybody. The list of attributes most accurately describes a dividend paying, participating whole life policy. Most people we meet with have no idea truly how banks work, how life insurance companies work. You're going to discover some things this evening that you didn't know prior to attending. Now here's what's interesting this tool, and I refer to it as a tool because it is the best tool for the job. And the job is to implement the process of becoming your own banker. The infinite banking concept. Now, if we put the best tool for the job in the hands of someone who doesn't know how to use it, not only are they not going to turn out any good work with the tool, they're likely going to break the damn tool. And so it's very important to understand the anatomy of this tool, but it's also important to understand how to utilize it. And so you should work with a good coach. And at Ascendant, we have the very best coaches. And part of our process is I'll put you in touch with the right person on my team who can help you to implement this process or to, at minimum, see what advantage it represents to you in your life. So think about this tool. Participating, dividend paying, whole life. Let's break it down. First and foremost, it's not an investment. It is not an investment. I want to make that very clear. It's a unilateral, binding contract. It's participating. So what that means is that you become a part owner of the life insurance company. Now, the life carriers that we work with have been operating since 1847 in our country. They have never failed to produce a profit and they've never failed to declare and pay dividends to their policy owners. Isn't that good? Think about everything that's transpired over the past 173 years. The Spanish flu, H1N1 SARS, the Great Depression, 30 recessions, the financial crisis of 08 09, the current crisis that we're facing globally as a result of COVID 19. And yet these life insurance carriers that we work with continue to thrive. They must be doing something right now, because you become a part owner of the insurance company, you participate in the profit generated from every product that the insurance company provides to the Canadian consumer. When you're dealing with a mutual life company, which you should ideally have your policies placed with a mutual life company, there are no stockholders. The insurance company is responsive only to the whole life policyholders. There are no stockholders to be responsive to. When you're dealing with an insurance company that is demutualized and is publicly traded, that insurance company is first and foremost responsive to the stockholders of the company, not to the whole life policyholders. Now, dividend paying means whenever people hear the word dividend, they think, here comes Revenue Canada. And that's not the case each year that the Life insurance company declares a dividend, it's contractually guaranteed to be paid to the participating policy owner, and it can never be repossessed or lose value. I'll say that again. It can never be repossessed and it can never lose value.

There's no risky stock market, no government intervention, there's no market risk. Nobody can repossess that dividend or its value. The life carriers that we work with have been declaring and paying dividends every single year since inception. And that is something that represents an advantage all and of its own. Now, whole life means you're insured for your whole Life to age 100. There are contractual guarantees, one of which is that the total cash value of the policy is contractually guaranteed to match the total death benefit by age 100%. So every single day that you're aging, your cash value, which is your pool of financial value, is rising every single day, no matter what. And it cannot go down. Your cash value in the policy cannot go backward. It is contractually guaranteed to rise on a daily basis. That's all it does is go up whether you want it to or not. Isn't that good? Every day that you're aging so you don't have to worry about stock markets, real estate markets, the economy. All you have to do is stay alive, continue aging. And the longer you live, the more of a hero you're going to be to your family or your business. God forbid, if the unthinkable happened and you died early, you're still going to be a hero to your family or to your business because there is a death benefit, a death benefit that is paid to your named beneficiaries, income tax free. Now, we know there aren't many financial guarantees in life anymore. In fact, the word guarantee can't be used very often in financial circles. But as it relates to this contract, there are contractual guarantees. This is a legally binding contract, and you have full contractual authority. We know that pensions are going by the wayside. There's doubt about the future, especially during COVID.

Like I mentioned earlier, we've had so many clients contact us during this COVID pandemic who've been able to keep their families afloat financially, who've been able to keep their team members, their employees, gainfully employed, keep their businesses open. Now we know that dividend paying life insurance can help create peace of mind and unmatched financial security. Here's how cash value begins accumulating immediately the moment that the policy is in place, that's the moment that cash value begins growing it's contractually guaranteed to grow daily and it cannot go down. You have easy access and control over a growing pool of financial value that you can use to take advantage of opportunity. That will track you down. And I promise you that when you have a growing pool of financial value, opportunity will track you down. You're not penalized for accessing it early like you are with an RSP or other financial products. There are several tax advantages, both personally and corporately, and it provides a growing death benefit which is ever increasing. And it's paid to your named beneficiaries, income tax free. So in your life, be a wealth creator. And the way to become a wealth creator is to implement this process of becoming your own banker in your life, whether it's for your family or for your business. Now, we get the question all the time. If I'm a business owner, can my corporation own policies? The answer is yes. If you're an individual or a household and you want to secede yourself from the system, this is the way to go about doing it. Now, this green line here represents your growing pool of financial value. This is what's called cash value. Inside of the policy, it's rising daily, uninterrupted. This red line represents you accessing policy loans for the things that you need throughout the course of your lifetime. So you request a policy loan from the life insurance company. They ask you two questions. Do you want us to electronically deposit the money into your checking account or can we mail you a check? There's no repayment schedule. It's an unstructured loan. That means that you are the policy owner. You control the repayment schedule of your policy loans. Now, while you have a policy loan, your total cash value continues rising uninterrupted. You see, there's never anything leaving your system. You're using the life insurance company's capital to take care of the things that you need throughout your lifetime without interrupting any of the growth of your own pool of financial value. Isn't that good? And so you become your greatest advantage. Or as my dear friend Caleb Williams would say, you are your greatest asset. You can do this. It's ridiculously simple once you know how. So creating your own banking system, first thing to understand is Nelson Nash's five golden rules. The first golden rule is to think long range. Now, this means thinking three generations past your own. The second golden rule is don't be afraid to capitalize. Your money has to reside somewhere. What better place to have it reside than here? Don't steal the piece everybody remembers that so when you gain access to policy loans, you should have a plan to, to replenish your system to get those cans of peas back on the shelf so that the insurance company can sell to more captive customers and multiply money. Don't do business with banks. Every time you borrow money from a commercial bank, what you're doing is you're contributing to inflation. Rethink your thinking. Everyone looks at the world with a bias. Whether you think you do or you don't, you do. And so this requires a shift in thinking. We're not going to change your cash flow. We're not going to ask you to work any harder. We're not going to ask you to take on any risk, and you're never going to lose control of your pool of financial value. We live in a world that demands instant gratification. So if I sent you a text message right now, I expect to reply right away. If I send you an email, I expect you to respond right away. There's a major problem with that instant gratification mindset. Instant coffee, instant food, instant everything. It doesn't leave you with time to think. It's very important for you to understand the problem because if you don't understand the problem, the solution won't be clear to you and you won't know what to do. So focus on the process, not the product. The insurance company is going to administer that contract with or without your interaction. Focus on the process. What advantage does becoming my own banker represent to me, to my family, to my business, for this generation and for every generation that comes after me? Now, here's something for individuals and families. Let's first talk about one of my clients, David Klein. Wonderful guy. He's been a client for years. And David is someone who completed the class a few years ago, seven years ago. He's in his eighth year now, as a matter of fact. And here's the question that he asked me. He said, jason, can you take a look at my financial situation and help me to implement becoming your own banker in my life? And here's what happened since now, before I bring that up for everybody again, I just want to encourage you to please type in your questions in the Q and A window. That's where we want those questions to be. And because we're going to have a time dedicated at the end of the webinar to go through those questions and make sure that they're answered for you. And I think that, you know, again, based on everything that we discuss in tonight's webinar, a Lot of the questions that come up for you are, you know, going to be. I think you'll find that they'll be answered, but if they're not, then please stick around. You'll be glad you did because we'll go through that Q and A period together. Okay, so going back to David Klein. So David tells his story. Seven years ago, he was introduced to the process. He felt like it was too good to be true. He's very skeptical because his father worked for revenue Canada for 30 years. And so after going through the class and after going through the process, he began to implement it in his life. And two years after opening their first policy, they took out their first policy loan. They paid off the bank loan on his wife's Subaru. They redirected the payments that they would have otherwise continued making to the commercial bank back into their own family banking system. Three years later, in year five, they took out another policy loan. They skipped the bank entirely. This time they used the money to buy themselves a brand new SUV outright. In year five, they also had another child and they took out a policy on him as well as a second policy on himself. With five policies now in force, after seven years, their mortgage came up for renewal. And instead of renewing with someone else's bank, they took out a policy loan from each of their five policies and paid off the mortgage in full. So now the payments that they would have been making to someone else's bank flowing back to their system. So they're still finishing the original loan schedule that they had with the bank. They're just changing the process of who's getting the money. And every dollar that goes back into their own system is instantly available to them to use again. Isn't that good? And so you can do this too. You just need to know how. Now, let's go back here for a moment and I'll share this with you. One of the most common questions that I get, especially at this point in the webinar, is, Jason, can you connect me with the right person on your team to take a look at my financial situation and show me how to become my own banker? The answer is yes. We have a becoming your own banker call designed just for that.

Now you can click the link that you've already received. It's either been text message to you or emailed to you. Or if you haven't received it yet, simply grab your mobile phone. So grab your smartphone and just text the word schedule to this number. 5878-166-399. That's 587-816-6399 and reserve a day and time that works best for you. I know and you should know deep down that you're capable of doing this. Here's the follow up that you can expect from us. We like frequent and effective communication and so here's the follow up that you can expect from us. We're going to stay in touch with you via email. You'll receive an invite to schedule a time to meet. If we don't hear from you, the right advisor on my team is going to reach out to you as a professional courtesy and try to find a mutually convenient day and time to get a meeting booked. It's included with the webinar. There's no cost. Don't bring any money to that meeting. Nobody's going to ask you for any. And if you prefer not to meet, simply let us know. And as long as you leave happy, that's okay too. Now let's go to Alan Antonio. Now Alan and his lovely wife Janet and their entire family have been practicing this process for many years. And I'll share with you a little bit about Alan's story. Alan goes on to say that after three years of building their policies, they had already acquired enough cash value that they could withdraw. Now they accessed policy loans. They didn't withdraw the money from their system. They paid off the bank mortgage on their rental real estate 13 years early. I'm just going to have a bit of a pregnant pause here.

And let that sink in.

Three years of building their policies. Remember the grocery store example? They capitalized their system right. They got the attractive building, they filled it with quality merchandise, all those things. Think about the grocery store example here. They accessed a policy loan and paid off a rental real estate mortgage 13 years ahead of schedule. That was a huge accomplishment knowing that they were really using the infinite banking concept as it was intended. When their oldest daughter and son in law decided to buy their first home, they were able to access a loan from a policy that we had started and also from funds from our policy to buy their home as a cash deal and to not have a mortgage from a traditional bank. Currently they're making payments back to us for the loan instead of the bank, thus keeping the with the idea of keeping the money in your family. When you access a policy loan, it's an unstructured loan. So Alan and Janet are controlling the repayment schedule of that loan. The property that the proceeds of that loan was used to purchase is owned free and clear. It's unencumbered the lien for the loan is on the death benefit of the insurance policies, so they own the asset free and clear. When you access a policy loan, it's not reported to TransUnion, it's not reported to Equifax, it doesn't impact your debt service ratios and all those other calculations that the toll taker and the gatekeeper at the commercial bank need you to go through. When you need to borrow money, it's a private loan between you and the insurance company that you are a part owner of. The Antonios understand that their money must reside somewhere. What better place to have it reside than here? Every dollar that goes back in is instantly reaccessible to them and by proxy to their family. They have policies on practically everybody in their family. They are one of the sharpest examples of how this process has completely transformed their lives. They don't rely on a commercial bank for anything other than the convenience of debit. You can do this too.

All right.

Everyone's still with me. Give me a thumbs up. Give me a heck yeah in the chat window.

All right. Excellent. Good. Okay, so let's do this. Let's compare how 99% of the car buying public in Canada purchases cars. And let's contrast that with the process of becoming your own banker. Now here's the deal. Each of these methods of purchasing a car is going to cover about 99% of the Canadian population who purchase vehicles. Each one of these methods requires a constant capital transfer of money away from you. Okay, let's go through it. Here's the no purchase payment plan. So this is leasing. This is when you make payments but you don't own anything. A post purchase payment plan, which is financing, where you don't own anything until you make the final payment. So think about people who experienced severe financial hardship during COVID If they had borrowed capital to buy the car and they couldn't make the payments and they couldn't negotiate a reprieve, they lose the car, all the money they put in up to that point, and their credit is ruined. Then we've got the pre purchase payment plan. This is saving cash in someone else's system or withdrawing the cash from someone else's system, handing it over to the seller of the car. And then what does the seller do with that money? They deposit it right back into someone else's banking system. And so with each method above, who's getting all the money? The banks.

Now here's a couple questions for everybody on the webinar. First question is how many vehicles have you and your family purchased up to this point in your lifetime. Now, whether you paid cash, whether you leased them, whether you financed them. Go ahead and type in the chat window. How many vehicles you and your family have purchased up to this point in your lifetime?

3:12. Okay, so that's 15, 2, 14. Oh my God, that's a lot of cars. 8, 11, at least 10. Okay, so gosh, we're easily up to 50 plus vehicles up to this point. Now let's presume that the average purchase price of a vehicle is 25,000 bucks. Let's just do some quick math on that. So let's go 25,000, and we're well above 70 vehicles now, so let's go 70. So that's 1.750 million that's been permanently transferred from folks on this webinar. How many more vehicles are you going to purchase for the remainder of your lifetime? Think about all those cars that you've already bought. How much money do you have from all those cars? People are likely to spend more money financing vehicles throughout their lifetime than they'll ever save for retirement. Now here's a real example. September 2017, I decided to buy this exact vehicle, color and all from Ford. Now, I decided to buy a Ford. My rationale was simple. I test drove some Mazdas, some Nissans. I decided to go with Ford because Ford was the only motor company that didn't take advantage of any of the TARP bailout money in the 0809 financial crisis. And it shouldn't surprise anybody that the Ford motor company has several billion dollars in cash value inside of dividend paying, participating whole life insurance policies. Now, this car was 55 grand. What were my purchase options? I could have paid cash. I could have financed it, I could have leased it, but I decided to purchase it by implementing the process of becoming your own banker. Now, what's the lost opportunity cost of choosing one payment option over the other? If I decided to pay cash? So I would have already saved up the money in someone else's system. And let's pull up a real simple lost opportunity cost calculator just for the benefit of everybody on the webinar. And I'll get this up on the screen here in just a moment. Just let me bring it up.

Calculator. There we go. Now here's what I'd like some help with. If I could just get someone to tell me. How much interest do you think you could earn per year if you had 55,000 stored in someone else's bank somewhere? Doesn't matter how much interest do you think you can earn? What percentage of interest every year?

Okay, I've got two responses at 3%. 1.5. Thank you, Dan. These days, 0.5. Yep, that's true, Joseph. If you have your money inside of a savings account or a checking account, 2%, 4%. Okay, so let me just meet everybody right in the middle. So I'll do 3%. So we're going to take 55 grand and we'll say 3% is the interest rate that we think we could earn. And when I bought the car, at that time, I had about 40. Just call it 46 years left of life expectancy according to the actuaries at the insurance company. So let me input 46 years. This would have been the real cost of me paying cash for that car. If I had saved and stored the money in someone else's bank, withdrew the money, handed it over to the seller, I would have permanently given up the opportunity to earn interest on that capital. This is the lost opportunity cost of that financing decision. That's profound. I would wager that not one person on the webinar tonight has ever gone through this calculation. When they decided to save up the money and then go buy the car, you didn't calculate how much an opportunity cost and how much interest you were permanently giving up the opportunity to earn. What your brain focused on was the interest that you didn't have to pay.

And so that is profound. You have to reckon with lost opportunity cost. You must reckon with that. There is no escaping it. And so many people pay lip service to the words lost opportunity cost, but very few people actually reckon with it. This opportunity cost calculator is available. Just Google it. Lost opportunity cost calculator. And you can play around with your own numbers there. So I decided to implement the process. So I took out a policy loan from the insurance company, and here's what happened. I capitalized my policy first, right? Just like the grocery store, I had to put capital in before I earned anything. So don't be afraid to capitalize your system. That's one of Nelson's five golden rules. Your money must reside somewhere. I requested a policy loan for 55,000 using my own cash value as collateral. Following Nelson Nash's fourth golden rule, which is don't do business with banks. The insurance company placed a lien on the death benefit for the loan balance. While 100% of my own cash value continues growing to this day, it keeps rising every single day, uninterrupted. I controlled the repayment schedule, so I decided to repay my policy loan at a rate of 1,066 per month for five years. I decided to do that. The insurance company did not call for that repayment schedule because I'm the one that has contractual authority. Don't steal the piece.

Heaven forbid. If something happens to me and my family receives the death benefit proceeds minus the loan balance, they still own the car. So they still own the item that the policy loan proceeds were used to buy and they receive a windfall income tax free. That's thinking long range. That's Nelson's first golden rule. Now, where did the money come from to buy the car? It came from the life insurance company. Who owns the car? I do. I own it free and clear from the moment I drove it off the lot. Who's got all the money? I do. It's growing inside my system every single day without interruption. What happens if I choose to stop or to modify my policy loan repayment schedule? Nothing. The insurance company is not going to call me and say, why aren't you making payments? The insurance company doesn't care for two reasons. They know that there's no risk of default on that loan because they have a lien on the death benefit for the loan balance, and the insurance company itself guarantees the collateral for the loan. That's why they don't require a repayment schedule. How much of the money that I put toward policy loan repayments can I use again? All of it. In fact, whenever I go back to the policy, there's more capital available than when I last checked it because the money continues growing uninterrupted. So I get the car, I have all the money, and I recapture all the interest that I would have otherwise paid to someone else's system and that I would have otherwise permanently given up the opportunity to earn. If you can do this for cars, is there anything that you can't do it for? That's Nelson's fifth golden rule. Rethink your thinking.

Now. The word retirement is not a word that I personally use my own vocabulary. But we want to meet people where they're at. So let's look at a personal retirement solution using this tool. Nasia is age 45, female. She doesn't smoke. Her objective was to have 39,000 in net annual retirement income from age 65 to age 90. She deposits 30,000 a year because she said, look, I can deposit just under 29,000 into an RRSP. So I'm just going to round it up. I'll put that money into a policy rather than transfer the Money away from me and hand it over to someone else who thinks that they can do better with it than I can. She puts the money into a dividend paying, participating, whole life policy. She decides to pay the premium for 10 years. So she put 300,000 in from age 65 to age 90. Nacia accesses $39,827 every year tax free. Total out 1,035,000. She passes away at age 91. She leaves 586,682 to her beneficiaries income tax free. Now stop for a moment and evaluate. What did she put in 300,000? What did she spend while she was alive? 1,035,000. What did she leave behind to the family income tax free when she died? A lot more than she put in? 586,000. Now where on earth can you buy or sell anything where you put in 300,000, you spend 1,035,000 and you leave behind 586,000. And you don't have to share any of the gain with anybody. The only loser in this situation is Revenue Canada. The didn't have to share any of the gain with Revenue Canada and you pay zero tax on the daily cash value accumulation. Isn't that good? Ask yourself, is it easier to save 300,000 inside of a policy like NASIA did? Or is it easier to accumulate 1,035,000 inside of a mutual fund or an RRSP?

Here's a little something for investors and business owners. Now, we find that typically an established business owner is working with an accountant, a chartered accountant, someone who's preparing their tax returns, and Tim Dawson, who's a senior partner with Myers Norris Penny, which is a nationwide chartered accounting firm. Tim started to take care of my family and my corporate accounting many years ago back in 2011. And once he began to understand this process, he began to introduce it to his corporate owned clients, privately held business owners, established business owners who are making money. And we work with chartered accountants all the time and their clients. And when they grasp this process, they're thrilled because it reduces their clients exposure to tax. It helps them to accumulate contractually guaranteed growing pools of financial value that can be utilized for any purpose at any time. So that puts the business owner in a position of total and absolute control. And we haven't met a single business owner yet who has said, you know, I would really like more exposure to tax versus less.

Something to think about.

Right.

Very honored by Tim's testimony and wanted to share that with all of you. Now here's A corporate retirement solution. So this is the business owner, his name is Dylan. He's 45 years young. His objective was to have 41,000 in net annual retirement income from age 65 to age 90. The corporation, so not Dylan, the company deposits 50,000 into a corporate owned dividend paying participating Life policy for 10 years total in half a million bucks. The corporate tax on the daily cash value growth in the policy is zero. The passive investment income tax is zero. These policies are not captured by the passive investment income rules. So not only is Dylan accumulating a pool of financial value that is attracting no tax, he's also taking surplus capital from the corporation, storing it inside of an instrument that is not subject to any taxation. So he's avoiding grinding down his small business tax deductibility so he has more revenue in the business that's taxed at a lower rate. From age 65 to age 90, he accesses $41,005 per year. After tax, his total out is 1,066,000. So again, what am I putting in, what am I getting out? Dylan passes away at age 91. The net death benefit is 806,717. Dylan's death gives rise to what's called the capital dividend account inside the corporation. The this is a notional account and the credit to that account is 3,506,000. Capital dividends are then paid out of the corporation tax free. Understanding that your wealth must reside somewhere. Did this policy take away any of Dylan's options? Thinking about your kids, think about your grandkids, your great grandkids. They're all going to need the use of money. We've been taught to be divisive in the family. The wealthy don't talk this way. Here's what we've all heard growing up. One day you're going to start your own family. You're going to have your own debt, you're going to have your own mortgage. Then you'll understand. The wealthy don't talk that way. The wealthy circle the wagons around the family. And they say when you grow up, you're going to need access to money for things like property, business equipment, cars, weddings, education. What we want you to do is shop at home. Don't transfer the money away from the family. Make sure that you're shopping at home and all the money that comes back to the family gets made available again to the family so there's no money leaving. This is a picture of my family. And you can see the T shirts we're wearing that read Annual Family banking meeting. This is something that we do every single year. We have 49 policies in our family banking system. Every person that you see in this photograph is insured. And so what's interesting is that the children pick up on this process much quicker than adults do. Children have much higher neuroplasticity than adults. That's why it's so advantageous to learn a new language at such an early age. So during our annual family banking meeting, we talk about how we're utilizing the family banking system. In this most recent family banking meeting, my son Jackson, who you see here right behind me, my oldest child Jackson, he was recognized for paying off his second policy loan in this picture. He was 11. So just think about that for a moment. He's already utilizing language like keep the money in the family shop at home. Whatever I put back in, I get to re access. And so we celebrated his achievement and we talk about how we're going to use the system for the upcoming year. We talk about adding more policies to the family. We talk about circling the wagons around the family, keeping the money flowing to the family versus flowing away. Now, most recently, and I want to share a very personal story with all of you. This gentleman that you see behind my son, this is papa habs, my father in law. And if I had introduced you to papa habs seven weeks ago, you would have said, hey, looks like a perfectly healthy guy. He had been retired from the edmonton police service after a 35 plus year career. And shortly after his retirement I said, papa, I want to take out a life insurance policy on you. I'll pay the premium so you don't have to come out of pocket. I'll use the growing pool of financial value for the family banking system while you're alive. And God forbid if the unthinkable happened to you and you passed away, we're going to make sure that nona, who's his wife as you see here, is never going to have a bad financial day for the rest of her lifetime. And we're also going to create a policy for all of your grandkids as part of your legacy. And the only thing that I want in return is the premium that I paid. And he said, well, you know, I'm type 2 diabetic, I don't think I'm life insurable. Well, we said there's only one way to find out. So we applied for the policy, it got approved, the policy was issued, it was in place for years and sadly, my father in law was diagnosed with cancer several weeks ago. And on September 12, my father in law passed away.

We had committed to the legacy and we are honoring that commitment. The death benefit has already been received and we're carrying out exactly what we promised to do. And so we just had a windfall, a significant tax free windfall come back to the family and now the money is going to stay in the family. And so think about people in your life that you would die for. You all know someone that you would die for. How many of you know someone who would die for you? So this is not just about the process of becoming your own banker, the infinite banking concept. This is also about understanding that if you put this process in place, windfalls will come, people are going to pass away. Everyone that you see in this photograph is going to pass away someday, including yours truly. We just don't know when. Everyone on this webinar has a best before date and so be sure to understand that there's a death benefit that's thrown in for good measure when you begin practicing this process in your life. Now, over the course of your entire lifetime up to this point, think of all the money that leaves your family for things like mortgages, investments, cars, property, weddings, taxes, tuition, business loans, insurance, personal expenses, business expenses, recreational vehicles, vacations, sports, hobbies. Add up all the money you've earned and spent up to this point in your life. Could you write me a check for that amount? Right now you can't because someone else has got all the money. You did all the work, but everyone else got all your money. Have the banking process work for you rather than against you. Here's a recap. The Truth.

The difference between you getting stressed or staying stressed or staying relaxed financially is who controls the banking function in your life. You don't have to put your money in prison for decades and rely on someone else to achieve the financial abundance that you deserve today. You don't have to be rich to become your own banker. Now you might be thinking at this point, hey, this all looks awesome, but how will I know if this will work for me? Schedule your discovery call. It's included with your webinar. You've already received a link inviting you to do that. You can click that link or you can text the word schedule to this number, 587-816-6399. That's 587-816-6390 and reserve a day and time that works best for you. If you book your call before the end of the webinar, here's what you're going to get. You're going to get a one on one conversation with the right person on my team who's an authorized infinite Banking practitioner. You're going to receive access to an online video series that is $49.95, but you're going to access it for for free. This is made available through the Nelson Nash Institute. It is the foundations of the infinite banking concept. A series of videos that you will get access to for free. You'll get a clarity meeting. Now you might be thinking, okay, this all sounds great, but I don't want to do this myself and you shouldn't do this yourself. You're going to get a lifetime of coaching from our team and you pay nothing for that. That's all included in the value that we create for our clients. There's more valuable resources available to you. If you visit YouTube and you check out the Ascendant Financial YouTubes, as I like to refer to them as the YouTubes. The Ascendant Financial channel has replays of past webinars. The webinar that you saw here this evening is going to be posted on this YouTube channel in just a couple days from now. You can visit Wealth Without Bay street, which is our podcast. There are a number of different episodes there and there are client series episodes. These are real clients who have been practicing the process and they're sharing their story with you. So you can ease on over to Wealth Without Bay street and tune in. Please be sure to subscribe so that you're kept up to date on all the podcast episodes. We release new episodes every single week. If you visit our website, you can have a look at Take a gander at our amazing team. All the people who make this happen, all the people who create value for our clients, they're all here and you can click through to anybody that you want to get to know a little bit better, including yours truly. And you'll get a sense of why we do what we do. And you'll also get a sense of what we're really like outside of the office. Isn't that good? All right, now, going back here for a moment. Let's do this. If you understand the problem, the solution will become clear and you'll know exactly what to do. You've all received the link already to the documentary film that I had commissioned on Nelson, who I was blessed beyond the definition of good fortune to be mentored by for so many years. Available@nelsonnashfilm.com if you haven't watched that documentary, please do. You'll be glad you did. It's one hour, it's free. And it'll give you a glimpse into the essence of just how incredible Nelson was and the impact that he had on so many people's lives.

You don't have to get a policy or a system of policies from us. There are lots of great people that you can work with. But please don't try to do this alone. Households and business owners who do this right, they all have a good coach and I always recommend getting a coach. And when you choose who you're going to work with, here are some things that I'd ask you to think about. You've got to be careful about the life carrier that you put your policies with and ensure that they're designed properly. There are ways to design policies improperly, so you've got to work with a good coach. Most people who are selling you life insurance, they do not have expertise in this area. So make sure you work with somebody who specializes in the process of becoming your own banker. You should choose someone who is an authorized infinite Banking practitioner with the Nelson Nash Institute. Here's what that means. It means that they've been through a course of study. They've completed an exam. They've been mentored by an experienced mentor, someone who's been practicing this process, who's an authorized practitioner in good standing with the Nelson Nash Institute. All of our team members are authorized practitioners, with the exception of a new team member who is still going through the process, still working through becoming authorized. But you will only be connected with someone on our team who is authorized and in good standing with the Nelson Nash Institute. The reason you should do this in your life now is because you deserve the outcome now. The longer you wait, the more you penalize yourself. The real questions are, what's the cost of doing nothing? What's the cost of just one more year of all your money leaving your family or your business permanently? What's the cost of giving up all the interest that your money could have earned otherwise? Schedule a time to meet with us. It's included in this webinar. We are blessed to receive so many incredible reviews. These are all real people who were kind enough to leave us their reviews on their experience of the value that we create for them. And we are just incredibly grateful. There's something to be said about the power of commitment to yourself.

If you're committed to yourself. Schedule of becoming your own banker.

Call.

Are you committed?

If all this process did was keep more money in your family or business, would it be worth it to you if all it did was create a peaceful, stress free financial life. Would it be worth it to you?

You do have options. The first option is to do nothing and nothing will change. You'll continue to work your butt off for the banks and everyone else gets all your money. Second option is schedule your discovery call and put the financial control back in your hands where it belongs. Picture a day when financial control is in your hands. Not a bank, not the government or a risky stock market. Picture a day when your spouse says, thank you, thank you for not making me wait 30 years to enjoy the lifestyle we want today. Picture a day when your finances are exactly where you want them to be and you know with certainty that you have the freedom to travel when you want to travel, relax when you want to relax and serve when you want to serve. I'm going to leave you with this.

I was 24.

It was August of 1998.

First thing in the morning in Timmins, Ontario. I was ready for the three day drive from Timmins to a new life in Edmonton, Alberta.

You're my invisible partner sitting in the passenger seat. I was standing in the foyer in my dad's home and he wrapped me in a big bear hug and he said, son, I want you to know I'm really proud of you. Drive careful and call me when you get to Edmonton. And don't get any speeding tickets along the way. I got pulled over by the RCMP right outside of Winnipeg. I got my very first speeding ticket that I ever got in my lifetime. And when I arrived in Edmonton, I didn't call. I got straight to work and three weeks later I was sitting down to dinner with my team and I remembered to call my dad. I excused myself from the table and I made the call. My stepmom Beverly answered the phone and when I asked to speak to my dad, she said, well, he's in the bathroom. Do you want to wait? And I said, no, I don't have a half an hour. Please let him know that I apologize for not calling sooner. Things are going great and we'll catch up as soon as I can. The very next morning I was paged to pick up an urgent phone call. It was just past 11 that next morning and when I picked up the phone, it was my stepmom Beverly. And she was frantic. She told me that my dad had just passed away suddenly and unexpectedly. I was devastated. I know it's human nature to procrastinate and to think there will always be time, but what I learned is that you can't wait. When my dad died unexpectedly. I felt lost. I felt full of regret and that I'd let him down. Since then, I've dedicated my life to helping people just like you to live a fulfilling life now, so there are no regrets later. Like I mentioned at the beginning of the webinar, you deserve a life of no regrets. You deserve to be in control of your financial future. You deserve a lifetime of abundance. So join me and let's get you the life that you deserve. We're going to open up Q and A now, but before we do that, allow me to thank you sincerely, again, for spending your evening with us. We know you could have been doing many other things with your time, and you chose to be here. I applaud you for that commitment. All right, Sorblo.

Let'S have some Q and A. Let's have some fun.

Sounds good. Jason, the first question is, what is the minimum that we can start with?

Well, we have clients who deposit as little as $100 a month into their program, and we have clients who deposit more than six figures every month into their program. And so if you're somewhere in between those two numbers, you can do this.

Next question is from Tanya, and her question is, how many years does it take to set up in Canada? I heard the rules are different in.

The US Cash value begins accumulating immediately with the policies that we create for our clients, and you can begin accessing policy loans immediately.

Next question is from Jorge. Is there a situation where insurance companies do not declare dividend?

They're gosh with the carriers we work with? No. There is a life carrier in Canada that I believe they had one year. So they had been declaring dividends for more than 110 years. And there was one year where they didn't declare and pay a dividend. Hence why we don't use that carrier. All the carriers that we work with have never failed to declare and pay dividends to their policy owners. It's never happened.

Next is from Vivek. The question is, can we take loan and use it to grow cash values? Second question. Sorry, go ahead.

Can we take a loan and use it to grow cash values? So if I understand the question correctly, is that if you access a policy loan, does that grow cash value? The answer is no. The cash value in the policy is going to rise. Whether you access policy loans or not. Where this increases your value of your program, hence your death benefit, your total cash values, et cetera, is that you're putting extra capital back into the system. And that extra capital, that extra interest is not really interest. It's additional premium that goes into your program. The only thing that grows your program is more premium.

The second part of this question is, if the loan is 5% and we get 6% annually, can we continue without paying the interest back for the loan as cash values will keep growing?

That's a really interesting question. And it's quite common for people to.

Commingle dividends with policy loan interest and cash value growth, and they're completely separate from one another. So when you access a policy loan, there is simple interest that begins to accrue on that policy loan. The cash value growth in the policy is not tied to that. They're not related to one another.

And so if you took out a.

Policy loan and you never repaid that policy loan, you're going to accrue simple interest, and it's going to compound at every policy anniversary, which is once a year. And so if you can imagine, you've.

Got a rising loan balance, but you.

Also have rising cash value. But sooner or later, the policy is going to implode, which is why we always go back to Nelson Nash's third golden rule, which is don't steal the peas.

Jason, the next question is from an anonymous attendee.

I don't take questions from anonymous attendees, so please don't do that on our webinars. Type in the chat window, let us know who you are. Don't be anonymous. There are no secrets here, no anonymity. We're asking questions for the benefit of everyone who's in attendance.

So next question is, what are the interest rates?

The interest rates for policy loans, it.

Doesn'T specify, just what are the interest rates? So I'm guessing it's policy loans.

Yeah.

So they vary. They can be as low as 5.25%, they can be as high as 8%. It depends on the life carrier. But it's important again to emphasize that the process of becoming your own banker is not a function of rates. This has nothing to do with rates. This has everything to do with the process of who's getting the money. So starboard, for example, if you can borrow money from td bank at 3%, you're prime.

Okay?

You're a great customer. You have the most pristine credit rating on planet Earth.

And you access the money from TD Bank. Who controls the repayment schedule?

TD bank does.

And when you make a payment of principal and interest, who is TD bank putting the interest portion of that payment to work for?

For the owners of the bank.

And when you make all the payments back to td, Bank. Can you ever earn interest on that money for your lifetime and for every generation that comes after, you won't be able to. Not at all. When you access capital from the life insurance company, let's say it was 8% simple interest. Okay. And you make payments on your schedule back to the insurance company that you co own, who is the insurance company putting the interest component of that payment to work for?

For the owners of the insurance company which are the participating policy owners.

Ah, so think about the grocery store example. Would you have much of a grocery store business if you were the only customer who shopped there?

I won't, no.

You have to build the business so that your needs are met, but that so others can prosper as well. The same principle applies to banking. So when you become a part owner of the insurance company and you remember that your money must reside somewhere and you know that everything that you repay is instantly reaccessible to you, does the interest rate even matter?

It doesn't.

Thank you, I rest my case.

Next question is from Jorge. How many policies can you own and is there a limit on how many policies one can own?

That's a great question. It's really from the perspective of the insurance company, it's based on human life value, it's based on total death benefit. So if you are going to pay.

A dollar for $1,000 of death benefit and you decide, well what I want to do is I want the thousand of death benefit, but I want to break it up into a number of policies, you can do that. And so it's really more so about remembering that the best time to add a policy to your program is when you can. And again just speaking from our own experience, I mean we have 49 policies in our family banking system but we have many lives insured. So multiple lives in the family are insured, but there is a limit. But that limit is different for everybody.

To answer his question, our next question is from Vivek. Again. What is difference between whole life and IUL inducts universal life policy as they seem to be very similar and he's looking at advantages and disadvantages between the both.

Well, that would be an expanded conversation, but I'll just say this. Think about a universal life insurance policy as term insurance with a slot machine attached to it.

100% of the risk is transferred away from the insurance company to the policyholder. When you're dealing with dividend paying participating whole life insurance, you're dealing with a unilateral binding contract and the insurance company itself assumes 100% of the risk to fulfill those legally binding contractual guarantees. Iul Variable Life, Universal Life, Indexed Universal Life, that is. And I'll just say this, I've never sold one of those policies, I've never illustrated one, and I would never recommend it for the implementation of the process of becoming your own banker. That's like trying to compare an apple to a bowling ball.

Next question is from Miec and I hope I'm pronouncing your name properly. What about the insurance coverage on a house mortgage? How does this compare with commercial banks insurance for life or disability coverage? Hope I'm clear.

Yeah, that's a very good question. So typically when you purchase an insurance benefit from a commercial bank, you're simply enrolled in the bank's group plan. And so you don't own the coverage, you don't control the coverage. And when you pass away, if the coverage had not been underwritten at the time that you applied for it, it is underwritten at the time of your death. And if there's any reason that you would have otherwise been not life insurable, the benefit will not cover the mortgage and the premiums that were put in will simply be returned to your surviving spouse or family member and the mortgage will still be due. And so for the most part, in our experience, that type of coverage isn't worth the paper it's printed on.

Next question is from Nephi. Does a practitioner get paid by the insurance company or by who?

Yes, we get paid in Canadian dollars and we get paid extremely well for what we do by the insurance company.

There's a follow up question from Miyak. Jason, how about showing an example of an already retired person? I think she's referring to the insured retirement program.

Oh, that is an awesome yes, we'd be happy to do that for you. If you go ahead to schedule your discovery call, just make sure that you mention to the advisor that you're speaking with that one of your objectives is to see an example and the advisor would be more than happy to do that for you. Thank you for asking for that. We're happy to provide.

Next is from Vivek again for Nadia's example, is she withdrawing or taking loans for $39,000?

She's taking loans.

Next question from Hori again, how much is today's dividend or an average of the last five years?

Who cares?

We designed the policies to grow without dividends. Think of the dividends as icing on the cake. And if the icing doesn't show up and you're still hungry for cake. You're going to eat the cake and hopefully you enjoy it. This has nothing to do with dividends, dividend rates, dividend scales. Stop focusing on that. Ask yourself who is the banker in my life today?

If you ask yourself who's got the highest dividend scale interest rate, you're missing the whole point. This is all about taking control of the banking function as it relates to your needs.

Rethink your thinking.

Another follow up question from him. Can you convert existing term life policies into dividend paying whole life insurance?

If the insurance company that the term coverage is with, if that term policy has a guaranteed conversion privilege and that insurance company provides dividend paying participating whole life contracts, the answer is yes.

Next question again from Jorge. How painful could it be to transfer RRSPs Resp Lira into dividend paying whole life insurance?

It's not a function of pain, you know, if you have control over that account, the only way to get access to the money is to deregister that amount of money which is going to trigger a taxable event. And so it's always important. And we are not chartered accountants, we're not providing tax advice. We do have a chartered accountant as an extension of our team who's also a trust and estate planner. And it's important to talk to your accountant to gain clarity on what the tax consequences are of taking money out of an instrument like an RSP or a lira or other.

Account of that nature and then using the net proceeds to put into a participating policy. Those types of accounts can be a source of premium for policies, but it's important to have clarity on the tax consequences that are triggered as a result.

Another question from Hori again. Which life insurance companies do you work with?

We work with the very best in Canada. The purpose of this webinar is not to do a commercial for any one particular life insurance company, but we will say that we work with three of the very best life carriers with the best track record, the best history, consecutive declaration of profit and distribution of that profit. And we've done our due diligence and we've been working with those same carriers for the past 13 years and they've.

Been operating longer than you and I have been alive combined.

Sarblo.

Yeah. Next question again. And then this is from Joseph. Is the interest rate paid back on the loan taxable? Whether personal or corporate?

Is the interest paid taxable?

No.

No.

It dependent upon what you're using the policy loan proceeds for. The simple interest that accrues may be tax deductible if you actually pay the interest. Right. You actually have to pay it in order for the deduction to be legitimate. But that would be a great conversation to have in your becoming your own banker. Call with an advisor.

Next question from Tanya. Please give me an example. If I have $200,000 term insurance and can switch it over to whole life, how long will it take me to use it for real estate, car purchase, etc. Is it when I've paid $200,000 fully into it?

No.

So that's why it's so important to create that time, to get connected with the right person on my team and to go through that, go through the example. There's no cost associated with doing that and nobody's going to pressure you or try to compel you to do anything but to walk through an example right now. We simply wouldn't have the time. So I would encourage you create that call. You'll be glad you did.

Next is from Robert. I'm a U.S. citizen living in Colorado. Can I utilize this process for becoming my own banker?

You sure can. We work with an amazing group in the United States. And so if I may just ask this gentleman just to send an email back to the advisor that has already corresponded with you and let that advisor know that you would like to be introduced to someone in the United States who is thoroughly familiar with this process and we'll make sure that you're in good hands.

Next question is from Joe. What is the cost premium for the insurance policy?

Policy owner determines how much premium they want to deposit into their system.

Next is from Nephi. He's just thanking Jason for the presentation.

Thanks for being with us, Alwyn.

That's the next question from her. Is this policy you're talking about the same as Universal Life Policy?

No, not even close.

Next is from Joseph in reference to Nadia's example. If she's taking loans as retirement, is she also making payments back? No.

So when you decide to utilize your policy or your system of policies during passive income time, as I refer to it as, and as Nelson referred to it as, then you would let the death benefit extinguish the loan balance at the time time of your passing.

Next is from Brian. What would Dave Ramsey say about your program? And he puts in lol.

Well, you know, Dave Ramsey first and foremost, I mean he does provide a lot of good programs on helping people to get laser focused on eliminating their debt, on, you know, saving money. And so he does, you know, communicate a number of very good things. It's also important to Understand, you know, Dave Ramsey is a financial entertainer.

So he gets remunerated millions of dollars.

A year to promote the buy term insurance and put your money in mutual funds. And so there are a lot of mutual fund companies, a lot of people who have a vested interest in Dave Ramsey providing that advice. Dave Ramsey is not familiar with this process. Dave Ramsey is familiar with products. And so I had only, I've only had one occasion in my life to meet Dave Ramsey and that was at a conference in the United States and there was no discussion, you know, about this process. His topic, his talk at that time was all about how he grew his business and what it's culminated into today. And so he does a number of good things but he does not understand this process that I can assure you.

Jason, some folks have posted questions in the chat box. I'm going to be going through the chat box. One is from Mehmed. If you borrowed the loan from the policy, do you have to pay interest or the insurance company would deduct that from your policy?

Yeah. So if you don't meet policy loan repayments, then the simple interest will accrue.

On that loan balance and it'll either.

Be repaid at some point at your convenience while you're alive or the death benefit will extinguish that loan balance when you die.

Other question from the same person, how to pick whole life from all the different carriers. Equitable Life, sun life, manual life, etc. Would it be based on cost or how to decide which is better?

No, it has nothing to do with cost. It has everything to do with, to do with the value that gets created for our clients. And so we have done our due diligence and we've narrowed it down to the very best carriers based on a very long list of criteria. And so it has nothing to do with cost.

Joe has a question. Some advisors speak French, so maybe he's looking at.

Yes, we do have.

A gentleman in the province of Quebec that we are joint venturing with and he is authorized with the Nelson Ash Institute and he's very fluent in en francais and he's more than happy to connect with you if that's what you would like to do.

There's one last question that we haven't answered. The question is from Ahmed, how to become a practitioner.

Excellent question. The first step is to get in touch with the Nelson Nash Institute and you can visit their website@infinite banking.org that's infinitebanking.org and you can make an inquiry about the authorized Infinite Banking practitioner program.

And in addition to that, in Canada, you must be life licensed. And so there's a whole process to go through there. I would encourage you schedule a time to talk to the advisor that you've been connected with, and the advisor can point you in the right direction on how to get enrolled in that life License qualification program and how to commence the process if you want to take this same journey.

And, Jason, those were all the questions that we had today.

All right, well, that was fun. And we've still got 29 attendees that are with us. Thanks for sticking around. I think I tripped over my tongue earlier and I said that I was going to be an hour and I should have said two. So I do apologize for tripping over my tongue there, but it's virtually impossible to get this across in one hour. But I do thank everyone sincerely for spending your time with us. We wish you all a terrific rest of your day, and we look forward to hearing all the great stories of your implementation of the process and how this is transforming your life as well. Thanks so much for being here, everybody. Have a great rest of your day.

Bye.

Bye.