INCREASE Your Lifetime Savings By $1,000,000+

Everyone, the government, the pension, the bank, the bills that you're paying, the responsibilities you have for all get your money first before you do. But you're the one who does the work to generate the money. But somehow everyone gets the priority before you. Doesn't that sound wrong? Why is it that you are last in the equation? The first thing I just want to talk about and of course let you know that I'm not sharing any particular pieces of financial advice or recommendations. Everything that you're learning here today is specific to just educational purposes. I'm a CPACA and I've been working with a wide variety of clients for many, many years. And everybody's situation is very, very different. So this is not anything related to a template or anything you can just take away and apply for yourself. So I just want to make sure you know that. The second thing is I'm going to talk about the importance that it's time now to start privatizing your wealth. And I'll talk about more about what that means and I'm going to show you and illustrate the problem why your wealth is being taken away from you. I want to first tie into actually just some technical definitions. Well, according to the Merriam Webster Dictionary, wealth is an abundance of valuable material possessions or resources. And according to Vestopedia, it's an accumulation of scarce resources. What you are doing and the possessions that you are acquiring presently doing is really to receive and accumulate that money. You're building your wealth. What is inspiring you to build your wealth? Let me kind of first talk about something called systems. I want to introduce you to a concept called systems, and I want to define for you what systems mean according to the dictionary, regular interacting or interdependent group of items forming a unified whole. So it's a set of activities that are actually combined together, generally synergistically. So there's a lot of moving parts in the system. Now today, what I'm also going to dive into is a few basic concepts of those components. There's a few systems that I'm going to open the door in our conversation today, which is that banking system which consists of some players who control these activities. The depositing side, the borrowing side, the banker, the bank owner, and then there's the government system, which you may see as tax deductions when you are earning income, whether it's visibly on your paycheck because you know you don't get the full amount that you are getting. And there's other things related in those deductions from taxes and pensions. If you haven't had a chance, please get yourself a copy of this book. Becoming youg Own Banker. There's been over 470,000 copies sold. Just to kind of let you know that the concepts that I'm going to dive into here is going to be based on a lot of the information shared in this book. It's a 92 page book, it's a very simple read. And really don't discard the value of what's included in this book because it's 92 pages. Because there's a reason why this book has sold over 470,000 and it's because it works. When you go through reading this book, you don't just read it through it once, maybe twice. I mean, every year I go through it several times, probably once or twice a month just to refer back to some of the concepts so that I can really open my mindset to helping others, including myself and my family. I do want to pay tribute to Nelson Nash. And you know, I wasn't fortunate enough to be able to personally thank Nelson Nash for pioneering this concept. And I do want to thank him for the impact that that simple book was able to do for my own life and my family's life. And so I want to make sure that you visit watchibc.com for a free 90 minute training on what the process of becoming your own banker entails. Unless you truly understand what the problem is, how you are being taken advantage of the solution honestly doesn't matter to you, you'll still be chasing your own tail. As I'm going to go through this, what I want to do is dive into a very specific family. Maybe you can relate to it, but at least it's a starting point for all of us to kind of grasp where everyone is. It's very specific to the Spectra family. They have different life journey than you, they have different goals than you. And ultimately they're not you. And so in order for you to know for sure how this process works for you and whether we're a good fit is that honestly it should start also with you taking that first step. Just like the Spectra family did who attended webinars just like this. Reach out and text so that you can schedule a clarity call with one of our coaches so that your very own unique experience can be specially crafted. So let's meet the Spectra family together. Here they are. They're a family of four. What I really enjoyed working with them, aside from being a wonderful family, sharing many of their personal milestones with me immediately after Attending one of these sessions, they took massive personal action right away. Reached out to me to help them get some more information about the concepts I'm going to talk about today. I mean they could go through researching on the Internet and reading all these other things about us things and all this other stuff. And it's just a mixed jungle when it comes to finding information. So what I do is normally I do send some recommended videos and the book becoming your own banker for them to read, for them to really digest and learn about this concept. Now when they finished going through that book, they immediately booked a meeting with me so that they can learn the concepts I shared with them so that it can be applied to them specifically. Now my first impression just starting with them was that they were very eager. They took control, they wanted to take control of building their own private wealth because they were really tired of being taken advantage of and they didn't feel like they were getting ahead. Let me kind of introduce to you also, Harvey. So Harvey is age 47, he's a mechanical technician and he earns $150,000 as a self employed individual. Now right now he's saving 25,000 per year into his RRSP system which has accumulated to $250,000 to date. I also want to introduce Jane. So Jane is age 45, she's a teacher and she earns $100,000 as an employee at ABC school board. Obviously I'm not using their real names for their specific situation. She's maxed out her TFSA at 81,500 and she typically also saves around 25,000 per year. She also has a pension with the Province teachers pension plan. If I take a look at their current assets and their liabilities, they have a car which is, you know, a loan that they have of 24,758. They're making payments $375.14 monthly with 60 months left. And then they have car two which is $44,000 with a payment of 657 with 60 months left. Real estate of fair market value 600,000 with a cost of 500. Down payment that they started with is 100 and their mortgage was three hundred and ninety and they're making a payment of 1880, 24. They have another investment property that's 600,000 currently in the fair market value. The cost of 200,000. A down payment of 40. Mortgage two is 160,000. Payment seven 16. And then the second investment property they have was more recent that they acquired is also 500,000 in terms of the fair market value right now they paid 400 for it with a down payment of 80 and a mortgage of 320 and a payment of 14.36.94. Nothing to really digest yet in terms of why I'm sharing this. But this will kind of all come together when it's revealed as I'm going through some of the content that I'm going to educate with you today. They have two children, Shane is age 7 and they've been saving to Shane's resp at $12,000. And same with Grace where she's age 5, saving $12,000. Now here are their objectives. They wanted to build wealth so that Harvey and Jane have enough money for retirement. The second thing is they wanted to remove their exposure to the temperament of the financial markets. As you can see, a lot of Harvey's money is in. His wealth is in a RRSP and it has taken a very large hit. And for a lot of people in today's economic times, probably an even larger hit as of right now. They also want to leave as much of their wealth behind for their children. When we look at it, the Spectra family is really looking at a very long term. And so here is the Spectra family's current way of building their wealth using the system that they know of right now. And it may look very similar to yours. So here's the Spectra family. They're doing all the work and they're accumulating that money that they earn by converting and working in terms of the self employment and their salary. So they get some money. But we all know from how they earn their money. The first place that that money is leaving them going to the government system in the form of taxes. The second part of that money that they receive that they work for and earn is leaving them in the form of the pension system, the CPP and EI without blinking an eye. The next place they go to to store their money is this place called the banking system. And in that banking system, without knowing well the first thing they have to end up doing because they have pre authorized payments and everything like that, that money is leaving them to pay bills. After they pay bills, well they have to pay for all of those mortgages and debt. So that's money again leaving them what's finally left over. You can see it's a lot less than what they initially started with. And this is what they leave behind for savings. Now those bills just to kind of show, start introducing that the money that is being sent in from the form of Bills is income for someone else. And where is that money being reintroduced to? It's going back to the banking system. If we take a look at everything all together, where is the mortgage money going to? Well, who did they borrow that money from? It's a creditor in the bank who is having that banking system because they took on debt to get that real estate. Where is the savings that they have? Where is that money going into? It's going back into the banking system, this time in a different vehicle or I'll call it a wrapping paper. It's the RRSPs, it's the TFSAs. So if I kind of highlight everything for all of you to see from the money that the Spectra family is earning, four areas of which all of their money is leaving them forever compared to that one place of savings. If we look at all the money that is leaving them, if they never had those responsibilities to pay for that, they would have a lot more money to save. Which is quite logical to say, what is the impact of that? And that's what I'm going to also share with you now. What you also may not know is that when people take that money and put it into that banking system in the form of RRSPs and TFSAs, they're using it to put it into products that the banks have. It could be mutual funds, it could be ETFs, it could be anything like that. Why would they want to be a part of offering you those products? Well, it's because they're paying you. They're going to be paying fees. So embedded in those include fees that is actually also leaving you. When we kind of put that all together, all inside of the banking system that you have introduced your money into, there's a lot of places money is also leaving you and going to someone else. Everyone. The government, the pension, the bank, the bills that you're paying, the responsibilities you have for all get your money first before you do. But you're the one who does the work to generate the money. But somehow everyone gets the priority before you. Doesn't that sound wrong? Why is it that you are last in the equation? Let's dive into what it's like when you're depositing your money into a bank. When you make a deposit to the bank, you are using the banking system, you are basically using their infrastructure. What I want to really just change for you to see is you are actually not depositing money to the bank. You are lending money to the bank without any collateral. And what is collateral? Collateral is an Asset a borrower uses to secure a loan from a lender. What happens when you lend money to someone without collateral? This is you, and you have this money here. You lend it to someone, that money obviously transfers to your hands, to them, and then they owe you money. Well, what do they do with that money? If they did a great job with the money, they will make some money from it. If they did some something bad with the money, then this is what will happen. It ends up burning away. And when you are an unsecured creditor, you basically lose everything. Let's now tie this back to another part that when you are lending money, this time it's the bank. And because you're using their infrastructure, this is what you end up paying for taking your money and using their infrastructure. Fees, fees, fees, fees, fees. These are basically toll fees for the service of them giving you service for the use of your money. Isn't that a little bit interesting? This is what the reality of fees are looking like today. TD bank, the lowest fees that are they are charging is about $6.45 monthly. We look at the unlimited checking account for National bank, it's $15.95 monthly. If we look at the bank of Montreal's premium account is $30 monthly. We add that all up every year. That's $360 for putting money, your money, in their infrastructure. They're entitled to charge you for this money because you're using their services. Most recently, I did a wire transfer, went to a branch because I needed to do a wire transfer. And I was sitting there an hour and a half teaching the bank associate how to do a wire transfer for my own money. And for that privilege, they billed me for $60. But I couldn't bill them for an hour and a half of value that I did for training that associate on how to send my money to the destination tool that I wanted to. That was extremely frustrating for me. What I want to highlight for you is the banking system profits from for being the middleman for all of your money needs. And that was just a part of what you see. Let's start unraveling the pieces of what you don't see. So you take the money that you have, you move it into the banking system's infrastructure. And of course there's fees and then there's fees, fees, fees. That's what you see. But what do they do with that money? Well, they take that money because they're borrowing it from you and they go make a profit now in return for that profit, because they're borrowing money from you. This is what they're paying you a bit of change in the form of interest. This is what they make from borrowing and using your money. This is what you make for letting them borrow your money after you want to withdraw your money. And with all of the fees that you end up paying, this is what you ended up with. You started with 100 and you ended up with 20. If you thought that was eye opening, here's what the actual banking system is like when you deposit money with them. Sorry, I meant when you lend money to them. Here's the $100. And you putting money into the bank. Of course, we already established there's fees, there's fees, there's fees, there's fees, there's fees. And just to make things because you're using a premium checking account, more fees, more fees, more fees. Let's kind of now put you are depositing money with them. So this is what actually happens. They owe you that $100. There's some legal rules set by the government and the banks, the chartered banks, called the Canadian Bank Act. They're allowed to hold a portion of that money as a reserve. And that allows them to basically enter into what's called fractional reserve banking. So they hold on to a small little reserve of that money and then they multiply that amount of money a lot higher than what they received from you. Unfortunately, I just will kind of put it out there. If you were to do the same thing, you'd be put into prison for counterfeiting money. And I just thought I would just put that out there for you to ponder about. Let's go back to that money that they've multiplied in their banking system. They take that money and make some profit. Make some more profit, some more profit, some more profit, some more profit, some more profit, some more profit, profit, profit. Look at that. So this is what you don't see in terms of how much profit they make. And then when they take that profit from the money that they multiplied and then made off of your money, they give you this change in the form of interest after all the fees that have been taken off your money. And the wonderful change that you got, this is what you end up with, this $20 bill. How much the banks make in 2020 when all of you were under government lockdowns and unable to earn any working income because business had to be closed. And I just want to show you, here are some of the audited 2020 financial statements of those banks. And all I did was go into Those financial statements and take figures that are showing there. And what you see is for the bank of Nova Scotia, as an example, there is 29,700. That's how much they earn. The interest that they paid was 12,400, and that's the profit, which is 17,300. And I'm just kind of removing some zeros to keep things really simple. But these numbers that you see are including six additional zeros behind it. So that's billions of dollars. And I haven't even taken into consideration the fees. So while you were struggling, they were able to make a lot more interest from what they have earned from your money. So what if somewhere down the road for the banking system, instead of this profit that they've made for themselves, all it takes, if you kind of walk through how everything flows, because remember, the bank is borrowing your money that they've multiplied and then lent it up to invest it if those investments failed? Well, instead of this, it starts going with something like this, something like this, something like this, something like this, something like this, this. And what happens if it all happens like this? Then in a matter of time, it becomes something like this. How safe is your money in the banking system? For real? A lot of the times you may see a lot of marketing messages that this bank is a proud member of the Canada Deposit Insurance Corporation. If the banking system or that bank went down, the CDIC is here to save you for your money. Let's take a look at the fund that this insurance company has. And what I did is I just took the most recent financial statements, 20, 22. And if we take a look at what you see here, provision for losses of 1.9 million, but it's actually including three more zeros at the end, so billion. How much does CDIC protect? Just an oversimplified rule is each one account type is $100,000. And how many Canadians are there? There's 38 million. I mean, the number can fluctuate, but it's not far from around where I'm saying I'm going to do a generous calculation. So if 10 million Canadians had $50,000 in some form of the bank accounts that are insured by CDIC, that actually multiplies to $500 trillion. How much does the CDIC have? Well, I have that number highlighted for you. $1.9 billion. That's about 19 cents per back to every Canadian, if you're lucky. And you know, some would call this promotion of your money being protected by the cdic, call it a placebo. Now, I also highlighted something very interesting for all of you to see, which is called the investment in securities, which is $7.2 billion. You're like, oh, yeah, they can just sell all that money more than that 1.9 billion that they have. Well, let's take a look at what those investment in securities are. Those securities are debt instruments issued or guaranteed by the government of Canada or provincial governments. Wait a minute. So if the banking system took our money to invest and it went down, and there's not enough money in the insurance fund to pay all Canadians, the government of Canada will step in to pay everybody's bank money back. But where does the government of Canada get all of their money? Oh, that's right. The citizens that they tax. Just think about that. Isn't that a little bit unusual? So they lost your money and you have to pay that money back. And even then, I wonder if there's enough. I'm not suggesting the banking system is going to fail. I'm just suggesting you open the curtains to see the reality of the situation. Just investigate what's there and you draw your own conclusions. I'm just showing you what's already there. And 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, as you saw and how I laid the money out, where you're moving your money and where it's going to. They are the one who gets the empowered energy from getting that money that they use. When you give them that money, they can make decisions on whether they want to expand. They can charge more fees. And if you look at the infrastructure that the banking system has built, it's so large that they can charge any fee that they want without any control. We use money every day, but that money needs to be stored somewhere. Money must come from a storage location. And the very first principle that must be understood is that you finance everything that you buy when you use cash. And this is probably a concept that a lot of you may still not see, is that you are giving up the interest you could have earned because if you didn't have to pay for those bills, you didn't have to pay anybody else. You didn't have to pay the government or those taxes. You would have put it in a storage location so that money could grow. You are giving up how much money you can earn. And unfortunately, you don't know how much money your money can earn because the bank pays you pennies and dimes when you leave it in there for them. When you borrow money, this is what you see. You are paying interest to someone else. So there's no exceptions. How do we use our money? What you see in front of you is a zero line. Let's say you started at zero and across each of the points there's 5, 10, 15, 20, 25, 30 years. Well, how do you use your money? You need to use it for vacations, you need to use it for buying cars, you need to use it for education and tuition. You've got to use it for homes, you got to use it for funding your retirement. Most of you may understand that if you don't have enough money to buy a car, and you know you need to buy a car, you're going to start saving and saving and saving and saving. And then once you reach the point that you want to buy the car, all that money ends up leaving you and you start back at zero again. Now you want to pursue some additional post secondary education or some form of additional education, you're making that investment. So you save and you save and you save and you save. And then once you pay for that tuition, there it goes every single time. You save, you save, you save and then you spend it. You save, you save, you save, you save, you spend it. You never get to build on top of what you've been building. You always stay in that zero line. Well, what does it look like if you don't have the money saved but you still need a car because you need it for work purposes? Well, you borrow the money and then you pay it back. You pay it back, you pay it back, you pay it back. And then, oh no, your car breaks down and you don't have any money anymore because you were too busy paying off the debt. You couldn't have enough to save. So you borrow it again and you pay it back. You pay it back, pay it back, pay back. So you end up being in this vicious cycle of borrowing, paying, paying, paying, paying, borrowing, paying, paying, paying, paying. So you never really come ahead. You are always staying at the zero line. Let's use an example where you need to spend $50,000 every five years, whatever it is, you want to buy a car. Option one is you give up earning in a vehicle that grows at 2%. I mean right now GICs are maybe offered at 4%, 5%, whatever that is. You are able to earn interest on that money if you are not putting it to use or spending it in some. The second option is if you borrow the 2% to pay for that. Here on the left side, column B, you'll see that $50,000 2%. Here's what you earn when you keep the money in the storage location and you are not spending it. And here is when you borrow the money and you need to pay 2% in doing it. So if I go through the first one, you'll see a very simple calculation. 50,000 at 2% is 1,000 51,000 dol. And in the other case, you're paying interest of $912. And the second year, because you're leaving your money compounded, it gets to grow at $52,200. But the interest you're paying because you've made a payment has gone down to $718. And we keep following that same pattern every single year. That money's compounding and growing because you are keeping it there. But on the right side is if you don't have the money, you're spending it and you need to pay interest. So you're giving up the opportunity to earn, earn this interest because your money is being used somewhere and it's never giving it a chance to ever catch any momentum to grow. So in the first five years, you end up earning 5,204, or you're giving up 5,204. And when it comes to interest, you end up paying 2005, 83. So let's keep going through until the 10 years. Now the account balance is much lower. You can see the first five years 5204, the next five years 5746. The interest is still the same. I mean, you're still borrowing money and you're paying, you're paying, you're paying. So if you add up all the numbers cumulatively, if you never needed to use the money to go buy a car, and every year you pay five years to buy that car and pay it back and start the whole cycle again, you end up in that lifetime on the borrowing side paying $7,750. But what you don't see is after 15 years of what I'm sharing with you, is if you kept that money in place for 15 years, you could have earned $23,000 on top of what you've initially started with. But it's because you used a very scarce resource that you have in the aspect of acquiring an objective that didn't help your money grow. When you pay cash, you are essentially giving up this $23,039 over the 15 years. Imagine what it'll look like after 20 years, 30 years 40 years. How much money are you giving up on that when you have a fixed capacity, or in Harvey's case, he has a fixed capacity of how long he's going to work until. And that's the amount of money he can only accumulate. Wouldn't solving the problem makes sense by how can we capture that money we want to hoard or keep our money so that it's working for us. Ultimately, I want you to take away that there's a cost in how you use your money. Everybody talks about, I don't like the returns and a checking account, so I move it to a savings account. But I also don't like the gains that I'm getting in a savings account. So I move it into investment. Because you've been told to put your money into these mutual funds, commodities, stocks and bonds. Now let's kind of look at who's the one providing those products. That's right, it's actually the banking system. Why have you been told to put your money into these financial products or the financial markets? Well, let's start unraveling how the investment industry gets paid for you putting your investment money money with them to invest. And I just very simply asked a search engine, how much do wealth advisors in Canada charge? Well, they charge anywhere from 0.4% for a robot system algorithm balancing portfolio advisor to 1 to 2% for a personal person who does that balancing. So on average it's around 1 to 2%. I think you know that fees when it comes to your checking account or in the banking system was taking a lot of money off of your initial principle of money that you're putting in there. So let's see how your wealth is being robbed by fees. Now, one thing I want to talk to you about is don't forget about the advisory fee they receive. They also get paid on the products like the mutual funds, the ETFs and whatever they recommend that you put your money in. Now, when they do that, the advisor may earn a commission in the fund they put your money in and possibly a trailing commission for the longer you keep the money in the fund. And that fund that uses your money that has been entered into it also receives what's called management expense ratio fees. The banking system when it relates to investments is so opaque, meaning you can't see it. You don't know what's happening behind those closed is that when you investigate and unpack how much money they make off of you being that middleman, it gets really ridiculous. And that's just the management fee there's performance fees, there's fund management fees, there's management expense ratio fees, fees and fees, and fees and fees. When you leave money with them to invest, let me ask you this question. Do they share any of your downside? Do they not get paid? They designed it in a way that they still get paid when you keep your money with them. And the longer they can continue getting paid irrespective of delivering value. I don't know about you, but I like to pay for someone when they deliver value. And my expectation when I leave money with these investment advisors is for them to grow my money. If that's not happening, then I'm not getting the value I receive, so I shouldn't be paying for it. However, they end up still charging it. So let's take a look at unraveling what that looks like. Now, on the left side here, column B, you'll see $50,000 being that initial investment and at 2% of a return. Similarly, on the uninterrupted, the other side is also 2%. Now, what I've also included is that profit from the investment firm which they charge you 1.5% of the fees. Now, here's the very important part that I want you to take away. If I do the math and walk it through with you, 50,000 at 2% on the left side is $51,000. The next is using the $51,000. It is 52, 020, so on and so forth. So it gets following that same pattern. It's 5,000, 204. Here's something I want to highlight for you. If you took that same money and you put it with that advisory firm, here's what you end up earning 51,000. So no different, however, because you included a investment management manager in terms of your money, they're charging you 1.5%. I think it's fair for me to say if you want me to adjust the number, I can do that, but I'm just going to use 1.5%. They take that amount of money that you've left with them and earned so that 51,000, and then they're going to subtract their 1.5% management fee from that. So ultimately, what your new balance that you actually get is $235 while they got $765. Is that fair for you? Let's continue this process going forward all the way. So you end up making 2012. You're making less because they're taking fees off of it, Right? But they're still Going to make their 1.5%. So it looks like you should be earning more, right? You should be earning 2% and they're earning 1.5%. But somehow after five years, the amount of money they collected is more than what you collected. Isn't that a little bit unusual? Let's kind of take this all the way to 15 years. What does 15 years look like? Well, at 15 years, if you had nobody else involved, you would have earned 17,002,93. Because you involved the investment advisor, because they mentioned that they will take good care of your money and will make sure that they know what they're doing. This example here Specifically, this is 7412. This is how much you earn. How much did the profit from the investment firm who managed your fund where you kept it with them, how much did they earn? 11,708. Who made more money? They did or you did? This is absolutely mind boggling. And this is just one of the fees that I am able to unpack how the industry works. Imagine if I was able to unpack MER fees, performance fees, yada yada yada, that stuff. It's so hard to unpack because there's no visibility and transparency to how those fees and the mechanics of how those fees are calculated. When it comes to building wealth, I think you get the point that you are permanently losing this money to fees. Now I want to talk to you about something called control awareness. Now that you transfer your money and it's stored with them, your money can go up and it can go down. We all acknowledge that you are the one who takes the risk. Now just look at your registered and unregistered accounts today. Has it gone up or has it gone down? For a lot of people it's gone down. Let's look at the last 22 years with the S and P. The financial markets don't just move in one direction. They can go up, they can go down. And you hear very often marketed that the average rate of return, if you kept your money in the financial markets, the average rate of return will be 5.5%. I'm just taking the most, you know, the 22 years of data, 5.5%. But we don't know what the financial markets are going to do. It can go down. It went down for three years, then up for 1, 2, 3, 4, 5, then down and up and down and up. It averages out to 5.5%. What I want to start now introducing to you is the sequence matters more. You gave them the money and you paid Them that advisory fee, your wealth goes down, they still get paid in some case more than what you earn. That's really confusing. And if I were now to show you what does that look like? Going back to the s and P500 average return, 5.5%. All of the historical returns. What if I just change the order and how the returns come? Because we don't have a crystal ball of knowing. So what I want to share with you is on the left side here. I'm just taking $50,000 and I'm using the marketing message of 5.5% as the average rate of return. That if I did this for the next 15 years. So five years is 15,000. The next five years is 20,000. The five years after that, it should be 61,006, 24. As you can see on the right side of my screen, that's what the actual sequence of returns is. We take a look at this. Well, 12.8, that was in year 2010. 26.4. I don't know what order this. I just randomly put the order of the returns. Okay. Just random. Because we don't actually know what it is. So I'm just taking a different order of how that return has come in. Well, what does that look like? Well, here's what it ends up actually being 8236 just by randomly changing the order of how the return came in. How did I do the random return? I use an Excel formula to randomize that set of numbers. That's very different. When you hear these financial gurus saying if you kept your money for over 15 years, it's easily you'll be a millionaire or you'll make 61,624. But if we actually unpack the sequence of what the actual returns are, here's what actually happens. 8236, it's like rolling the dice. You have no idea what that is. But why do they do that? Because they want your money in the form of products so that they can get the commission and they want you to keep the money in there. The next problem I want to highlight for you is that you are not in control when it comes to access of your money when you put it into those systems. And I just want to highlight a few troublesome systems when it comes to your money. Try accessing money from your rrsp. You need to pay taxes on that withdrawal you put it in. Yes, you get a nice refund, the pension and a lira. The conversation doesn't even start. They're not even going to let you legally pull out your money after 55, the Canada Pension plan. You've been contributing to it every single year, right? What if you want to access that money today? Oh, it's out of sight, out of mind. What I want to tell you is you're putting money into these systems that have been legally put in there for you, sometimes protected legally. For your safety. I will call it for your safety. Well, since it's for your safety. I mean, your money's been, in my view, put into prison. And your unfortunate money didn't even do anything wrong. Wrong. It just got locked up and it didn't even do anything wrong. Let's maybe dive into, specifically for all of you to relate to is the cpp, the government pension system. Richard and I did a podcast on this in a little bit more detail. You can see it's about an hour, but I want to just give some of you highlights. And this is the conversation that I was able to have with Harvey. Because he's a self employed individual who needs to pay cpp and because he's not employed, he has to pay double that. Normally the fund will receive the same double except some of as an employee, half of it paid by the employer and half of the other is paid by the employee. So let's look at Harvey's situation where he earns $150,000 in terms of the CPP. Now I just take an estimated tax calculator and that CPP premium on $150,000 is $7,000. So let's assume he started contributing $7,000 from age 30 to 65. So that's 35 years of money that's being withdrawn or taken away from him put into the CPP pension system of $7,000. And I'm not taking into inflation and everything to confuse everything. I'm actually trying to keep it a little bit reasonable. If I took inflation of 8.1 CPI, let's say at the peak of this year, things would not even be as good. But nonetheless, let's kind of put it at 245,000 contributed. Let's assume Harvey accesses CPP at 65. And if we look at the Canada pension plan today, the CPP is generally on average for those at 65, paying 727.61 monthly. How many years does it take for Harvey to get all of his money back from CPP? $727. And by the way, I do want to mention when you get this money from the government or the pension plan, it's Actually taxable, meaning you have to pay taxes on top of that. So it's not really 727. It's less than that. And we take that times 12. That is $8,731 annually. Remember, he contributed 245,000. And if we take a look at the amount of years on the money that he's going to receive, that's going to take him 28 years from 65 to get his money back. And that means he will be 93 years old just to get all of his money back. Statistics Canada estimates male life expectancy to be 85. If Harvey was part of the standard curve, he wouldn't get all of his money back for a lot of people may not even reach the age of retirement. And they had a whole bunch of people who unfortunately contributed to the CPP system them, but didn't get to enjoy it. And what happens to Harvey when he goes to the cpp? He wasn't able to get all of it. His family gets $2,500, which, by the way, they have to pay tax on when he passes away. They don't get back all the money that he's contributed. I don't know about you, but that's $727 today per month. I haven't met anyone today who said, gee, gee, golly gosh. The CPP monthly that I'm receiving, I feel like I won the lottery. But here's what else happened to the CPP fund in 2022, the pension plan lost $23 billion just in the June quarter. In this year, even though it's your money, you're not in control on how you want to use it. So now let me dive into another part, which is called the ownership. I just want to bring your attention and awareness to the ownership. The problem I want to share with you is you may be the manager for someone else's wealth. That's really not your wealth. Maybe you understand financial markets is not your thing. You don't want to put your money in there because it's too much risk. It goes up and down. That's not something you can stomach and tolerate. I was talking to a client of mine. He's like, Henry, I was so frustrated in 2020 with all the lockdowns. Money just collapsed. And then I just rolled through it, and now it collapsed again. So the next best thing you feel that you hear is put your money in real estate. There is good merits in some of the things related to real estate. The devil is in the details and how the real estate that you've acquired was structured. So let me go through that. Perhaps you are thinking you are exiting the banking system. But you aren't. And often people don't have enough money up front to pay for the real estate. So where do they go? They go back to the banking system. Borrow money from the bank to buy the real estate. Because they don't have enough money to pay for that real estate. So let's walk through a very simple example. You have a principal residence which is Harvey's, which is $500,000. There's two people who are going to pay that $500,000. Well, 20% down, $100,000 come from you. $400,000 comes from the bank. Just based on what you see here. Who actually owns that real estate? You are the bank. 80% of that money came from the bank to pay for that real estate. Why would the bank enter into this transaction? Well, who's doing all the work to generate the money to make those payments? Is that you or the bank? It's you. You're the one who's working, taking your income to pay for the bank's payments. Let's take a look at the payments that Harvey had. Which was $1,880.24. And here's the best part. I mean I have a mortgage too. And this is the part that is also eye opening. In the past used to give what's called an amortization schedule according to your loan. And which breaks down what is principal and what is interest. When we look at this, who receives the payments and earns a profit? Well, it's the bank. Right. First I just. Sorry, wanted to put in 80% is the bank. 20% is, is that. Well, if we look at 1,880, 24. What is the principal and what is the interest? I first want to dive into what the mortgage is. And in Latin it's called the death pledge. What I wanted to highlight for you, the mortgage that the Spectra family had was $400,000. 25 year amortization, 2.92% interest rate. And they make a payment of 1,880. Breaking apart what the payment is 1,880. We can see that month one, the principal is $906. The interest is $973. If we take a look at the percentage of the interest it's of compared to what the payment is. It's 52%. The dollars that you are paying in that payment is 52%. Can you tell me where 52% is compared to this. 2.92. That's right. I don't see it either. Let's look at month two is the same thing. 52%. We look at one year later. Here's how much money left Harvey had to pay for the principal. That's actually how much money the balance went down. The other portion of that went to the bank in the form of profit, and that was 50% of that money. So what's really owing less now is 388. So 400 subtract 11,000 is 388. It's not minus the 22,500. Now all of you say, oh, yeah, that's normal. That's how the bank works. Okay, let's look at that five years later. After five years, only $328,000 was paid down. So the five year total ends up being, you can see it's still a lot of it is assigned to interest. If we look at finally after 25 years now, we know the mortgages that people enter into is anywhere between three years, five years. It's not all the way for 25 years because Dynamics change. And so banks want to put you into renewing your mortgage every five years based on the next current interest rate. But I'm just keeping it really simple and keeping it stable at that quote, unquote, 2.92%. Now, by the end of 25 years, obviously more of that portion of payment is 22,000 is principal instead of interest. What I really want to highlight to you is it's not the interest rate that matters. The banking system and the financial gurus out there have magically engineered a specific way, by sharing with all of you 2.92% to get your money to borrow so that they can lend it to you. Ultimately, if we add up all of the interest that has been paid, it's been $164,000 on top of the 400 that you initially borrowed. That's 41%. Let me just let that sink in a little bit. That's more than a lot of people's income and salaries after multiple years. But when you borrow money from someone, they basically say, oh, real estate only goes up. When it comes to real estate only going up, I'm using Harvey's example, and this is what he did. He took it, got bumped up. Now it's $600,000. Oh, they got an equity lift, that equity lift of 65% and 30, 35% now. So with that extra money, it's time to refinance. Let's get that extra 80k out of it. But when you refinance, you go push it all the way back to the 80%. So the bank still owns 80% of the property, but they've given you more money and you're going to take that $80,000 and it gets put into an investment property. And that investment property, let's Split it again, 80 and 20. Well, that cycle is repeated again. 80% of this new property is owned by the bank and 20% is now owned by, by Harvey. If we kind of look at this, who is the one making all the money? I see a lot of marketing messages. I have 50 doors, I have 60 properties, yada, yada, yada. That's great, but I don't know how you acquired those properties. What debt did you end up into, or is all of those properties. You may have all those properties, but who in substance really owns the properties? The tenant may be the one paying for the mortgage, but you bear the risk when they don't. When it comes to investing in real estate, there's kind of an expression I like to share. I've been doing real estate for a long time. The most common things I hear from investors, what they hate managing, is tenants toilets and trash. The triple T's, ttt. Again, the bank still owns the asset. The bank still profits from you. But if the tenant runs into some financial difficulty, it's going to be very hard for the tenant to pay for it. What's going to happen? They stop paying. And if you're unfortunate, in Ontario, the rules are typically favored for the tenant. And if the tenant ends up squatting in your real estate, you don't even know how long that backlog is going to be before you can actually officially exit your tenant out. And you'd be lucky if you get any money back. So who's still making the payments? It's not the tenant anymore, it's you. So you're bearing all of that risk, you're actually managing them. You don't own the property, so you're actually managing the property. People say, what if real estate goes up? Well, what if real estate goes down? The value of your real estate can go down. And I just took a real random search. Real estate Canada going down. While people can see markets are falling, it can drop as much as 24,4%. Here's an even more interesting point of view. You put 20% into the property, the bank put 80% into the property, and after the market collapsed, 24%, you just lost all of your value, but the bank still has their value. No matter what, the bank is still profiting from you. And they've got you being the manager, not the owner of that real estate. You are taking all of that risk. Now let's dive into the government taxation system. How the income tax system is defined is a very key word. It's based on income and it's a progressive tax system. So the more income you earn, the more taxes you pay. And this visual you see is, as of September 21, 2022, a general family earns $100,000. And of that $100,000, $43,000 goes to taxes. 35.7% goes to clothing, housing and food. And 21% relates to other things that they spend on. Isn't that very, very unusual that the income taxes that a family now pays is almost the size of one person's salary? The government is making more money off of what you are earning. And you can sit with us. Did your income increase at the same levels to match the amount of taxes you're paying? Why do you think taxes are going up? Let me kind of give you a little bit of a lens. I'm not telling you this is what it is. But if we understand some things, if you spend more money than you make, you enter into debt. If you don't have enough money, then you keep building more and more debt. Well, let's take a look at the government in 2014-2015. That was the Harper government. And then we had 2015-2016 all the way to 2021. What I'm sharing with you is $282 billion in tax revenues received by the government. This is straight from the annual reports from the government of Canada's website. Expenses 280. So a profit of $1.9 billion, and the debt is $1 trillion. If we just took the debt divided by the profit, it was going to take 538 years to pay for it. Now, since the Trudeau government came in, this is what the financial results were when it came to their plan. Each year. It hasn't been making any profit. It's been losing money year over year over year over year. How are they losing money? Because they're spending more money than they make. If they spend more money than they make, they're basically incurring more and more and more and more and more of debt. I don't know about you, if you can see this, but this $1 trillion of debt, debt has ballooned to 1.6 trillion more than half of what the trillion of debt was. It was already going to take 538 years with no end in sight. $327 billion of a loss in 2020-2021. No end in sight when that debt is going to be paid.538 years. I mean I have seen people who are centurions who are 100 years old but not many people live past 85 for males, 88 for females. Well if a generation is 25 to 30 years, what has actually happened in today's spending that what this government has done has put from that time 18 generations. 18. I don't know, what do you call it? Grand, grand, grand, grand grand grand grandchildren to pay for this debt. They have been saddled with this obligation that they just got born into. There's a word that it starts with that I just can't use but it starts with an S. And this is who's going to pay for it? You and your future generations? Well if they're not making enough money, common sense business says if their only source of revenue comes from their citizens, the only thing that's going to happen is taxes. Some of you may be wondering where does the government actually get the money to spend if they don't have the money that they're collecting? They actually borrow from the central bank, they are printing money, they're borrowing from the Central bank of Canada who creates that money. They use a term called quantitative easing in some sophisticated term but they basically introduce some new money into the economy and they did that for the last two, three years because they needed to finance the programs and spending that the government needs to go through. Some things are going wrong here and what they've done because they have a mandate to keep inflation at 2% the last year currently so far the highest that inflation has got to is 8.1%. So what has happened with the central bank? Well the central bank or the government's bank has increased interest rates seven times in one year in 2022 and look at that, it was less than 0.5. Now it's up to 3.75. And as Tiff Macklin, for all of you who may be wondering who's the governor of the bank of Canada has said to us there is no end in sight that he can see yet when they will stop increasing interest rates. I think he knows what he's saying when he's the one driving the force. But then there's some times when he said he didn't believe that inflation and interest rates are going to be impacted a couple of years ago. But if you're still wondering why you're not getting head, well, I hope I've done a great job highlighting for you that the banking system and the government system is taking away a majority of your hard earned money and it doesn't even stop while you are alive. But let me first start with remember the income taxes from the government system. Along the way as you're building income, you've got income taxes, corporate taxes, dividend taxes, capital gains tax, interest rate taxes. Then you got spending taxes, gst, hst, carbon taxes, sin taxes like alcohol and cigarettes. Then you got possession taxes where if you own a luxury vehicle, if you have an empty property, you're going to pay taxes. But the one that most people don't often pay attention to and often neglect when building their wealth is death. When you become an angel, the government is going to swoop in to ensure that they get their taxes from your wealth. What percent would you put on yourself that you would one day pass away? 100%. Would your passing create any tension or stress on your loved ones? Yeah, absolutely. And you know, one of the things is when it comes to these moments, people leave it all the way to the very end. And a lot of families get torn apart fighting for their fair share. But guess what, you also have some unwanted family members that will arise that want that share of your wealth. And no, it's not them, it's Uncle Trudeau and Auntie Freeland of the CRA family. They've written legal rules that basically everything you own, they want a piece of that. And they're going to send some notice telling you that if death occurred on January 1st to October 31st, they want to be paid by April 30th. If death occurred from November 1st to December 31st, they'll want to be paid by in six months. So that's May or June. And I want to remind you of a law that is actually found in this book called Willie Sutton's law. Wherever wealth resides, someone will try to steal it. So even at death, they're still merciless and they still want it. So let's talk about death taxes. At death, the government considers all of the capital property deemed at fair market value and you must pay taxes on it within about a year in currency or money. There was a ticking time bomb awaiting the Spectra family and here's how much they would pay if both passed away. Now I am going to go through some calculations and these are reasonable estimates and I have taken care in ensuring it's accurate. However, they're oversimplified for educational purposes. So let's assume Harvey and Jane worked the full year and they unfortunately passed away at the same time. And so Harvey earned $150,000. Just based on the tax calculation. He would approximately pay $50,000. So his after tax money is $100,000. Jane's T4 income $100,000. The taxes she would pay would be $27,000. So her after tax money would be $73,000. Now let's tie in taxes at death. The RRSP. Remember that taxable value that was there was $250,000. The property won. If I take the difference between fair market value and what they paid for was $200,000, $400,000. But what's taxable is actually $200,000. So half the property two is taxable value is 50,000 which the cost is 400,000. The fair market value is 500,000. So if we take a look at all of this calculation, just to kind of keep things a little bit simple, the taxes at death for both of them combined would be 229,018. Let's put it into a little bit of perspective. The family wealth of all of the things combined of what the property and the values that have increased and gained was $750,000. The Spectra family after taxes had 453,982. That's what they received. What did the CRA receive? 306,018 or 41% of that money. So 59% went to the family, 41% went to CRA and paying for all of those taxes. So how does it feel along the way? While you are generating income to build your wealth, you are getting taxed and taxed and taxed all of your life's work, your blood, your sweat, your tears, your sacrifice, all the ball games you missed, the dance recitals, music recitals, all of those special moments you had to sacrifice and miss because of some reason to earn and build what you were building. Almost 50% of it gets left behind to the government. And for corporate business owners or investors who have who own real estate in their corporations, the tax problem of death is even worse just on the value of the shares. I'm not even including RSPs and other things held outside. This is what the business owner or investor could end up losing to the government if they were not properly planned. And really, really bothers me when I see that there has not even been a plan in place. If I were just to put in There, the company was worth $1 million. $260,000 goes to the family. $740,000 goes to the government. Something is seriously wrong in this equation. I haven't met anyone who's happy to pay this amount of taxes through their lifetime and at death. And this is including people that I speak with who work at the cra. So on your journey of building wealth, it just seems like you're doing all the work, giving everyone else the fuel to get wealthier more than you. And something's not right. These systems want your money because they want to keep your money there so they can keep getting paid. And this is what ends up happening. You're just going from one door to the next door to the next door to the next door because you're in that system. They built a massive system which you have been heavily dependent on. And how did it get there? Well, it starts from started from all of your hard earned money flowing there to them. You are giving them the wealth by sending the money there. They get the resources to decide to make the decisions to grow and expand. They get the financial benefit. They get the financial energy. Who owns the banking system, you or them? The more you end up flowing your money to them, you are directly supporting them. They make the profits. They make the decision to expand and build more of the infrastructures. Every corner on the street that you probably see has a banking branch there. They make the decision to charge over $10 monthly for fees because they're getting stronger and more powerful. And if you're not taking any view, instead seeing this and changing the direction of where your money is going, you are still part of supporting them. So whomever controls the motion of the money, directing the flow of money into them is the one accumulating the wealth. And remember, wealth is the abundance of valuable material resources and possessions. So how much of the wealth that you generate is actually owned by you. Isn't it time to to rethink where you are directing the flow of in store of your money? When the less people involved middlemen in your money be better. Isn't it time you change the way you use your money? And there's a quote that I like to use from Steve Jobs. Everything around you that you call life was made up by people that were no smarter than you. And you can change it, you can influence it. You can build your own things that other people can use. You are getting smarter and smarter, continuously educating yourself to become better and smarter than everyone else around you. So let's talk about the solutions you probably Know that the solution is actually really simple. Minimize or stop giving your money to the banking system. Get them out of your life and at most limit them to when you need to use them like debit because they've created that legal banking app. Money needs to flow through to them. That's how they designed the system. But nowhere in the banking act says you need to store the money with them. So how do I get started? Well the most important word that comes to mind is you need to start with desire. Without it you probably can't do it and everyone is already spending all of their financial resources on what he or she thinks is best. There's got to be some honest introspection, honest assessment, looking at your situation right now at this point and make a commitment that I want to get out of this financial prison and it must be a burning passion. And this is from Nelson Nash in the book page 65. Once you have that desire, the next step is build your own private banking system to direct your money to your own system instead of someone else's. So what's needed for building a successful private banking system? Well here's what's needed. You've got to have that desire and have that open mind. At Ascendant Financial we use what's called a properly structured participating dividend paying whole life insurance policy and it's placed preferably with a mutual insurance company. And what does that mean? Every policy you own and where you store your money. This is where I'm getting at. Is owned by this mutual insurance company where you become a co owner of that insurance company. Would you not want to direct your financial energy to your banking system that that company that you co own gets to also benefit from? The next is set up and get coached by an authorized Internet banking practitioner from the Nelson Nash Institute. So what is a participating dividend paying whole life insurance? Well, we don't have many financial guarantees in life. However, dividend paying whole life insurance placed with a mutual insurance company can help create peace of mind and unmatched financial security. And here's how the cash values begin accumulating tax free and is contractually guaranteed to grow daily. I'll say this again, it's contractually and legally guaranteed to grow daily because of how we design them and how they're engineered. When you put the same money in the banking system there is no contractual guarantee what you're going to get. When you put money in a cpp, there's no guarantee how much money you're going to get monthly. For someone of my age I'd be lucky if CPP still exists by that time. Easy access to and control over a growing pool of financial value that you can take and use to your advantage. That will track you down and you're not penalizing yourself for accessing it early. Your money is not placed in prison just like those in RRSPs or pensions. Your money didn't do anything wrong. Why are you locking it up? And there are many tax advantages that can happen both personally and corporately. And it provides a growing death benefit which is paid to your name beneficiaries, income tax free. So your own private system is your ticket to this financial freedom. Here's what it looks like. You all recall this diagram that I shared with you. Well, here's the difference. Now the system gets installed into your process and system of building wealth. The next place, the other, the government tax system, the pension system for most of you can't, don't have the choice because you're an employee, it's mandatory deducted. But whatever you have left, the goal is to flow as much of what you have into your very own banking system. Now when it needs to be used, it's going to come out of your banking system. And yes, you need to flow it through the banking system to pay for bills, to pay for mortgages and you can still put it to save and invest. And you know, that's the system that unfortunately has been legally designed for Canadians to use. But we're just going to put a new gatekeeper to pay yourself first before you pay someone else. So what does the family transformation plan look like for the Spectra family? Well, the first part is they were initially having their income. Some of it went to the income tax system, the next went to someone else's system. Well, here's the new way. The income tax system, legally we have to pay for that, but there is still your family system. One thing I want to share with you is it doesn't matter for many of you what you start with. And if I can just share with you that instead of looking at what is the minimum amount of money that I can start with, let's from a scarcity, fear based mindset, let's look at how much money can I put into my own system instead of someone else's system, what's the maximum amount of money that I can do? Well, everyone has to start where they are today. But the best thing about the system, it builds and expands. Because the only thing is the key is just getting started. This banking system system is an open book. It's called becoming your own banker is called the infinite banking concept because it's uniquely designed for you, for your life journey today, for where you want to be. You're already so used to using someone else's system and you're so used to someone telling you how much money you can borrow, how much interest do you need to earn or pay? And aren't you tired of being told what you can do with your own money? Can you imagine just getting that open canvas to building something for your family? Those who have a scarcity mindset, I mean, it's going to be scary for you. It's uncharted territory because everyone else is not doing this. And those of you who have an abundant mindset, you should be salivating. How can I get all of my money away from those systems into my own private system? And this concept that Nelson Nash has shared with all of us, becoming your own banker is an open book for all of you to build your own wealth, build your own specific system. That's why it's called the infinite banking concept. And I didn't get this message when I first read the book. And that's why I read the book over and over and over many times in a year, not just one. So what does the family banking system look like for the Spectra family? Well, Jane and Harvey were already saving 25,000. And instead of it going to the financial prison system, we're going to put it into the wealth building system. We just changed the location of where it was going. I didn't ask them to save anymore. I just changed where they were saving. So that's $50,000. Now here's how that $50,000 was allocated. Because we want to put our money to the most valuable parts of our wealth building journey, our lives. Harvey's putting 25,000, Jane is putting 18 on herself, and then she's putting 3,500 on Shane, 3,500 on Grace. So what does this $50,000 look like when that money pool starts accumulating? Well, $50,000 per year. Each year the money pool expands. And so I'm just showing with you, the whole box is basically the family banking system. Money is all going inside, but the values are obviously going to be different. And I want to just first caveat that these figures that I'm sharing with you are illustrative and educational purposes only. And they're very individual to them because of their age, because of all of these other circumstances that are not the same as you. So don't apply the same exact numbers that Are there. But let's just look at Harvey. Harvey's first years of putting 25,000. Immediately, he can access up to around 17,053. Year two is 37,662. After putting 50,000, 75,000, 72,687, so on and so forth, after six years, he's put in $120,000. Guess what happens? There's 136,000 that he can access to. That's more than what he's already put in. Jane, following the same pattern, 18,000 along the way. Shane is over here. Grace is over here. And this money pool just keeps growing more and more and more and more. It's like a savings account that you should be having. It just keeps increasing and increasing and increasing. So what does the increase look like? $50,000 is going into the system as a family, distributed amongst all the family members. And this is how much money that is immediately accessible in the first year. 34,456, so on and so forth. So it's just kind of consolidating for you to see that amount. And again, $50,000 after all of these years, this is how much money is being put in there. This is not an investment. This is just a storage house for all of your money that you can access at any time without any permission. How much does their system compound? I will tell you. This is very much estimated by year one, that $50,000. By putting in that $50,000, the cash that is increasing in their policy is increasing $23.95 per day. And I'll repeat that again. It's $23.95 per day. And if I multiply that by 365, that's $8,741. Imagine that 3, $8,741. By putting in $50,000. Do you know what this family needed to do to earn this $50,000? They didn't need to go figure out what the next best investment was. All they needed to do was wake up to the next day, look into their account, and here it is. It's right there. By the way, it's tax free. The second year committing to building their system is $38.52. And one thing I just want to tell you that all of these policies that are designed the way that we design them is that they have contractual guarantees built into them that the cash values will grow to match the death benefit by age 100. They are unilaterally binding contracts. Meaning remember that we all said, you know, 100% of the time you are going to pass away in a nice way. It'd be nice to be paid for that. And that is 100% going to happen when you pass away. And the way that we design these contracts, the values only keep going up. So if we look at the cash values, when the stock market goes up, your cash values go up. When the stock market goes down, your cash value goes up. When the interest rate goes down, your cash values go down. When your taxes go up, your cash values go up. When the taxes go down, your cash value goes up. So no matter what's happening, irrespective of the decisions that are made by the government, the banking system, because you're off that banking system, whatever is going on, all that noise, that drama has no impact to you. And here's a lasting message I want to share with you. This is not a get rich quick scheme. It's about thinking long range. And is the poor think week to week. The middle class think month to month. The rich think decade to decade. The wealthy think generation to generation. I just will throw in here. Gamblers spend their time dreaming for the next home run. So what is the benefit of building the system in the long term? Building the system as a family takes time. And I will tell you it's worth it. If you follow the traditional banking system for your loyalty with the bank, let's say you've built a balance of $726. 1 76. You put in $50,000. So Harvey and Jane have put in $50,000. Now I don't know if you remember, Harvey's 47 and Jane is 45, I think so we forgot in 20 years, Harvey will be 67. Now I don't know about you, but Harvey doesn't have plans to want to still be working at 67. But I just want to share with you first at the balance at 726. And in that banking system that you're so used to seeing, you put in, you deposit or remember that what we learned today, you lent the bank $50,000. Here's that new cash balance, 776,176. Well, the Spectra bank family banking system after 20 years has a cash value of 726,176. So the same thing. And I want to start opening your eyes to thinking long range, thinking generation to generation. While Harvey and Jane have taken the load for that 20 years. Grace and Shane are 5 and 7. So after 20 years they're 27, 25. And the family will have already put their steps forward to doing a great job and giving a strong foundation for Shane and Grace so that they don't get crippled by the banking system. They're going to do really well earning money. And what does conventional advice tell everyone out there for you right now who have a family? It's time to move out. It's time to be independent, and it's time to be opening your own bank account so that you can save money by yourself instead of pooling it all together. But what's going to be different when you take on this family banking system? When you deposit $50,000 into this banking system after 20 years, the system specific to them as a family as a whole has a cash value balance of 784,170. So by them putting $50,000 into this bank account without working for it, they've gained an extra 7,994. Harvey and Jane don't want to work on it anymore. But guess What? They took 20 years to build a wonderful system that they own and control. And instead of Harvey and Jane funding the premiums now, maybe it's Grace and Shane who fund the $50,000 and they can take that 50,000 putting it in there. And this is the beauty of when the system has matured to the level that is now paying you for putting money into your system. This isn't math or a science test like you had in school. I don't recommend you do this alone. And it's really important that you do it with a coach because the coach is going to look at your specific circumstances, ask particular questions about how you're structured, what your goals and objectives are in terms of your journey. One thing I do want to point out is this is not an insurance product. Most people, when they look at the insurance product, what I shared with you earlier, they're going to say, when's the earliest time I can stop paying money into the system? I want to keep paying into this as long as I can. If someone else in my family pays for it, that I can get that extra money, I'm going to do it. It's not an insurance advisor that is doing this. It's an authorized infinite banking practitioner from the Nelson Nash Institute. And even the very best athletes have coaches. We're all human. We're bombarded with all of the financial entertainment in the back that's happening every single day creates doubts. You may have people who are really blurring your goals and objectives and putting that doubt in the seed of that doubt in your head. And that's why people need coaches to encourage them, to strengthen them. And we're all human, even the very best athletes. Michael Jordan had Phil Jackson. Novak Djokovic, now 21 time Grand Slam champion, has Goran Ivan Izabit. Wayne Gretzky had Glenn Sapphire. You've got to get the right coach for the situation. Like I mentioned, you've got to choose someone who's from the authorized infinite banking practitioner from the Nelson Ash Institute and everyone here. All of our coaches at Ascendant Financial are authorized infinite banking practitioners. And this is a process and what's important to you is worth taking the time. And this isn't a limiting system, it's not a, you can't do this, you can't do this, you're not allowed that. It's a growth system, you can do this and you can do that. You can expand it, you can not expand it. Aren't you tired of being told what you can or cannot do, especially when it comes to your money? R. Nelson Nash has said was what a peaceful, stress free way of life it is when you get the banks out of your life. When you depend less on the government and the banking system that is out there, this is going to be your key to that stress free life. What can you pay for that? I think it's priceless. And in my opinion our coaches are the very best at what they do. And on Google we have actually all over 700 plus five star Google reviews. You're going to have questions going through this process like should I do this personally or should I do it corporately? Should I build my system with my children? The answer that I'm going to share with you is yes. Like the Spectra family, texting this word schedule to 780-809-4599 reserve that time of day that works best for you. You. And if you're already working with one of our coaches in the team, really meet with them, maybe now you have an open set, new mindset. One of my favorite clients, his first system coincidentally enough started with 25,000. He really took a lot of time every day actually going through videos, learning a lot more. He's like Henry, I have some extra money lying around personally. He has a corporation by the way. You know what I said to him? I'm like, when I spoke with you at the time, what you felt comfortable was 25,000. And you know what, that's what worked for you. But he's like Henry, I have extra money lying around, what can I do? I'm like, it's okay, let's expand. Let's work on it. And you know, believe me, I knew you were going to get to this point so I already had some ideas in place on what you can do and how we're going to expand your program. Picture a day when the financial control is in your hands, not the bank, not the government or the risky financial markets. When your spouse says to you thank you for not making me wait 30 years to enjoy the lifestyle we want today. When your finances are exactly where you want 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, serve when you want to serve and not get a heart attack from the drama that's happening in all of that financial entertainment world. Ask yourself this question. Who is the banker in your life today? Text the word schedule to 780-809-4599 and reserve that day that works best for you.