Life Insurance Agents are NOT IBC Practitioners (A Rant)

You've heard about the process of becoming your own banker, the infinite banking concept, in Canada, and you heard that we use this tool called dividend paying whole life insurance to actually implement the process. So what did you do? You went and talked to a life insurance Advisor who has 25 years of experience in life insurance. And because of that, they said, hey, I know how this process of becoming your own banker works. Let me coach you on how this whole thing works. And let me tell you, that's just not the truth. They are not qualified to coach you on the process of becoming your own banker, the infinite banking concept, because they don't have the experience of implementing the process. So my colleague Henry and I are going to expand on what we mean by this. The difference between being a life insurance advisor and an authorized infinite banking practitioner, somebody who's actually walked the path and practices what they teach. So Henry, let's expand on. What am I talking about here? The difference between a life insurance advisor and becoming an authorized infinite banking practitioner.

Yeah. So let's take a step back. And if we look at statements like that, they're trying to use statements like that to convince listeners that they probably have some authority of a valid opinion to speak about the subject matter. And when, you know, when most people are researching whether or not to do infinite banking, their first inclination is to research YouTube or look on Google. What they're going to find is videos and articles giving their interpretation. And the statement is just one of many of them. And they're going to do their research, they're going to find videos that best fit their belief system. And, you know, that's, that's all okay. Everybody gets a choice in doing what they want to do. So when people hear something that a life insurance advisor with a license, with many years of experience, of course they're entitled to their opinion, at least for now in Canada, we're still entitled to express our opinions and we have freedom of speech, except when big tech decides to censor people. But that's a whole separate matter. What does it take to be a infinite banking practitioner? Or at least what should, what should we look for when we're researching and learning about this infinite banking concept? There's actually about five things and a little bit more that I'm going to share in terms of what you should be looking for when you're researching the infinite banking concept. If I were to research whether infinite banking is a good fit for me objectively, instead of searching for YouTube and Google first, here's what I would look for. Does the individual actually own a policy designed for infinite banking.

Okay, there's this tool called dividend paying whole life insurance. That's what we use to implement the process of becoming your own banker, the infinite banking concept in Canada. And then you think, okay, whole life policy, cool, I just need to go get a whole life policy. Well, does that mean I can go get a whole life policy from any carrier in Canada? Does that mean I can go get any type of whole life policy? Is there only one type of whole life policy? No. Buying life insurance is very much like buying a car. There's about a thousand different ways to design the policy and they're designed for very specific objectives. So if we're implementing the process of becoming your own banker, there's a very specific way that we design the policies to be most optimal to implement the process, to actually use it for the banking process, to finance things that you need throughout your lifetime. And there's different companies, there's very specific companies that we need to work with that the actual insurance provider to make sure it's the proper company, they have the proper tool, the proper policy structure for infinite banking. So you can't just use any old life insurance policy and the life insurance advisor, God bless him, who isn't actually trained and authorized as an infinite banking practitioner. They might just think, oh yeah, sure, yeah, you use a whole life policy, yada yada yada, and go from there. Is that, has that kind of been your experience, Henry?

Absolutely. And just to use your car as an example, I'll use my own personal experience. I drive a BMW 335 and I drive a Toyota Prius. If I'm going to go on a long road trip, I'm not going to take my BMW 335, especially when gas prices are where they are right now and my car does that. BMW 335 doesn't fit enough things for me to take on that journey. So that doesn't make sense to design the, use that car for that specific objective. We're going to design the policy that's best fitted for your lifetime uses.

That's just another thing to think about and to make sure that it's actually structured correctly. And the only way that I would actually know how to structure the policy correctly is, like I said, if I've gone through the process that Henry and I are going to expand on momentarily here. So what's point number two, Henry?

Yeah, the second one is, is the individual actually building their program or system and actually uses it, and more importantly, how much and where do they use it? So, you know, people can actually design the policies and say, oh, here's what the Infinite Banking policy looks like. But are they actually using it and living their using it for their life? Where do they use it? Vern, you want to expand on that?

Oh, my gosh, Henry, Infinite Banking is a process. It is not a product. You're exactly right. That's what the typical. And by the way, we're not, you know, we're not trying to cut people down here. We're trying to give you Canada, empower you so that you know who you should be working with here. But the point is, is life insurance advisors, who are not authorized practitioners are focusing on exactly that. They're focusing on the product in this sales process and they're focusing on all of the features and benefits of this great product called Whole Life Insurance. They're not actually able to coach you on, hey, here's how I've structured my own system. Here's the objectives that my family and I or some of my clients have been able to achieve. Here's how I use my policy system. They're not actually speaking necessarily from experience of how they've lived the life, like Henry said, they're actually using the policy and implementing the process. They're just speaking to you because, yeah, they're smart people. They know what they're doing. They've been there for a long time and they understand, maybe, maybe they understand how this tool kind of works or how it's engineered. So they're pointing to you all of these features and benefits of the tool. They're not actually talking to you about the process and how to design it to achieve a specific objective and then how to go ahead and implement the process.

For me, when I use my policies, I've used it to finance renovations in my home rather than sending the money away to the contractors and just losing the opportunity to earn compound interest on my money. I've access policy loans to pay them and take advantage of still having my money grow every single day. I've used it for investing and I use it to purchase gold. I use it to purchase stocks. I use it for things that I want to do. And I know, Vern, you've also got some experience in how you use your policies too, right?

Yeah, this is really good. So, Canada, if you're watching this right now and you're going, gosh, these guys are making sense, I want to hear more about this. Make sure that you click the link in the post description below, go to watchibc.com watchibc.com, so you can get access to a 90 minute webinar that will expand on the conversation that Henry and I are having about how do you actually get started in the process? But you're exactly right, Henry. Like, I use the process of becoming your own banker. I use the infinite banking concept, my policy system, and to finance everything that I need in my life. Not just major purchases like vehicle financing or appliances or whatever, but it's even my lifestyle. Like, I need capital. I need money to achieve any objective. So if I want to go to the grocery store and buy a stick of gum, that money's got to come from somewhere. It's either going to come from the money that I worked really hard to earn, or it's going to come from, like, a credit card or line of credit, like borrowed money from someone else's bank. And to Henry's point, we want to earn uninterrupted growth. We want to grow our money every single day rather than interrupting that growth and giving it away. So if I use my cash and spend it on my groceries or whatever, my cash is gone forever. Just think about the growth potential on every dollar that you earn. Every dollar you earn has growth potential. And right now, someone else's bank is harnessing that energy. And then you spend it and the money's gone forever. Or to Henry's point, I got to renovate my kitchen. Well, I can borrow from a line of credit, someone else's bank, and now I got to make a payment to someone else on their terms. That's still a permanent transfer of that money away from me forever. It's gone forever. But instead you could do, like what Henry and I do. In August of 2021, I had a Ford F150, which I still have. And I was two and a half years into the financing arrangement that I originally created when I purchased the vehicle from Ford. Because when I purchased it, I didn't have the robust banking system that I currently have today. I just needed a vehicle with a manageable cost. So for two and a half years, every biweekly, I sent $299.37 away from my family forever. And it was agonizing. But I got to the point in August 2021 where I had enough capital in my system, where I could access a policy loan from my system, pay off Ford. My cash value is still doing what? Every day, Henry.

Growing every single day, man.

Every single day, completely uninterrupted. And now all I did was I took the $600 a month that we were sending already away and planning to send for the next five and a half years. And I literally redirect it right back into a private system that we own and we control. And now we get use and control over every penny that we pay back, plus whatever grows.

And you're also expanding your system, right? Like we're also expanding your system. It doesn't just end at. We find ways to grow our system. And actually it may end up being multiple policies that we try to build our system around. The system doesn't end with just one policy. It ends with multiple. And you know, there's always advantages for us doing it that way.

Yeah, 100%. It's like Nelson said, it's an exercise in imagination. And like the great and powerful Sarblogh Gill, our good colleague, he always says, hey, money grows on branches. So you might be watching this video and you're thinking, hey, I'm a real estate investor or I own a business. Or maybe you're. Maybe you're just a T4 income employee. But think about this for a moment. If you think about any neighborhood where you live, if there's a development going on right now, they're breaking ground. Well, what are they putting in there? Isn't there a gas station? Isn't there a bank? Maybe there's a pub, but that same pub might exist on the other end of town. Well, why does that. Why do they open up a second or a third or a fourth publisher? Well, because it attracts more deposits, it attracts more customers, it attracts more profit. Well, my banking system's no different. If I put. Let's just say, Henry, I'm putting $10,000 a year into a policy, that might be what I can do today because maybe I've already been saving $10,000 in someone else's bank. Maybe I've already got money saved up. I can just access that money and change the address and deposit it into a policy with the insurance company. Right? I can do that. Maybe $10,000 today is what I can do. But let's say you get a raise. You're a T4 Income employee, and you've been there. And now you're a manager and you go from $50,000 a year to $75,000 a year. Well, Nelson talks about Parkinson's law. Your expenses will rise to match your income. Because we're just busy. We're not paying attention. It gets absorbed in the budget. But what we're doing is, I don't get used to that new money. When I use my system to achieve objectives and I free up a payment like my Ford F150, I replenish my pool. But once I get back paying back that loan, I got 600 bucks now that needs a home. So I might start another policy with those dollars or like I said, if I get that raise, or maybe I sell a property and I get a windfall of cash. If I got 100,000 bucks, that just shows up, well, that $100,000, doesn't it need to be deposited? Doesn't it need to be warehoused? Doesn't it have to have a home between now and the next time I have an opportunity. So I'm going to access that capital and I'm going to start more policies and, and deposited in my system. Because Now I have 1, 2, 3, I have a system of policies that are growing every single day. And I can also diversify in lives insured. Currently I have my wife, myself, my son and my daughter. We all have multiple policies on our lives. So that's how we expand our system and that's how we sustain the system over time. We don't just willy nilly start throwing premium in and then let the thing implode. We have to have some thinking behind it and make sure that it actually makes sense and there's an intention and an objective in sustainability.

So now the next one is, does the individual actually coach people on using the process and what results have they actually achieved with that? I mean, Vern, I think we can both speak to the clients that we work with. We work with very diverse backgrounds of people that have different challenges and goals and objectives. A client, as an example, may be completely constrained by the payments that they're making against their income. Imagine if we can take control of that, the payments that they're sending to someone else into their own system where they now define how much they want to pay, when they want to pay it back, and it gives them extra breathing room to use their income. So that's where we do things like debt recapture to help have them own their debt.

So think about this, Canada. Everything that you call an asset, a bank calls a liability. And everything you call a liability, that is your mortgage, the bank calls an asset. So you borrow from the bank and now you have this liability called a mortgage or a line of credit or a car loan. And that causes a stream of payments to flow away from you to someone else's bank. But when Henry talks about debt recapture or owning the debt, well, if I own my banking system and I access A loan when I pay off the truck. And now the debt resides within my policy system. I just shifted that liability into an asset because I'm redirecting the payment back to my own system. I'm transferring asset or liabilities to assets in this process. So if you want to learn more about the debt recapture process, make sure you watch this video because it's going to blow your mind. Henry raised a really good point about actually coaching people to implement the process and looking at clients situations. Hey, maybe they're cash strapped, like Henry said. They earn certain amount of money and they have a bunch of payments. When we coach people, we look at their situation and what their objectives are and how they're structured. And we may coach them to restructure some things to free up some cash flow. Or they might already be sending more money away from themselves than they need to be to achieve specific objectives. Like, well, paying off debt is easy. All you got to do is send a lot more money than what they're asking for and eventually you'll pay off the debt. Or we could. We don't want to add a new payment or a new expense or a new deposit to your already existing cash flow. We want to implement the process without changing your cash flow. That's why I say we access existing savings or we potentially redirect some of the payments that are already leaving you into the policy system to build up that asset and we can access those values to eliminate the liabilities and achieve the objectives that you're already working toward achieving without actually changing your cash flow. We're actually building an asset while we eliminate a liability at the very same time.

Testimonials really, really kind of help us show, at least for us, right, Vern, what we actually help clients accomplish. And you know, it's not trying to brag or anything, but there's, there's a reason why we have so many real good reviews from our clients. You know, they leave these reviews for us, five stars and tell us, you know, we're fantastic team of professionals who do a great job coaching you through the process of winning financially. They provide a truly unique experience as incomparable to other financial planners. And you know, this is them talking, this is this individual talking very positively about our experience, actually coaching them. So you can't just have a product of designing the policy. We've got to coach you on how to use the policy. And do we actually help you get ahead?

I'll just add one point to what you just said right there, Henry, about coaching someone to use the actual tool, like, you could have the greatest tool, the most powerful tool on the planet for, like, trimming hedges or mowing your lawn or whatever. But if it's sitting in the garage, it's not doing anybody any good.

Right?

So I got this great policy that I'm not actually using. It's just sitting there. It's no good to anybody. We have to actually learn how to use the tool.

Right. The next one, number four, what I want to talk about is, are they listed on the Nelson Nash Institute? And you know, Vern, you want to share who Nelson Nash is.

So Nelson Nash is the founder, the pioneer of the process of becoming your own banker. And, you know, we take this kind of personally. Sometimes people don't always give credit where credit is due. Part of what we do here at Ascended Financial is to actually grow and build Nelson's legacy. People should know who Nelson is, because the process of becoming your own banker was discovered through his own financial ruin, which Again, go to watchibc.com and you'll learn a little bit more about who Nelson was and how this process came to be. But Nelson is the one who discovered this process, and he was very, very diligent and regimented in how he implemented it in his own life. And he has very specific rules to follow. Nelson Nash's five golden rules. Right? So number one is think long range. You got to think generations ahead. He was trained as a forester, so he was taught to think long range. He says, don't be afraid to capitalize your capital, your wealth. It's already being deposited in someone else's bank. It has to be deposited before it ever gets used. So it's got to go somewhere. It may as well go to a system that you own and you control. Nelson says golden rule number three, do not steal the peas. So in other words, he uses a grocery store example, an analogy to help us better understand the process of banking. But when he says, don't steal the peas, he means be a responsible banker. If I'm going to borrow money, Henry, from the commercial bank, no matter what, I have to agree to a loan repayment schedule. So if I'm going to become my own banker and I borrow money from my own system, I have to agree. Now I'm in control of it. I set the terms, I set the loan repayment, all of that. But when I say I have to agree to be a responsible banker and to really properly implement the process, I need to agree to my own loan repayment schedule. Going back to the system, always put Back more than what I used. Don't steal the piece. Golden rule number three. Number four. Excuse me, don't do business with banks. And we can expand on this, but the point with don't do business with banks is that they have all the control and, and we are unknowingly and unwillingly contributing to the inflation problem every single time we borrow money from banks because that's how they introduce more money into the system. And that's why the cereal that my wife bought yesterday and the cat food that she was complaining about has literally doubled in price in the last three weeks. And the fifth golden rule is. Oh, Henry, this is what this video is all about. Don't just think, but rethink your thinking. Okay, so if we, we need to actually unlearn what we've learned before, all the nonsense about all the stuff that we learn out there so that we can learn a new idea and implement a new idea. So I don't know if that helped illustrate who Nelson was, but that all came from his learning and his, his kids coaching.

Let's take a look. If we are located on the practitioner website, the Nelson Nash Institute, if you go into the Practitioner Finder Resources. Practitioner Finder and you know, you enter MCC, McCarty, Arty.

You got it.

Then you'll see Vernon right here. The next one actually is about the fifth one. So aside from being listed on it, what other experience and qualifications does this individual have? So let's take a look at Vernon. So Vernon.

Has a wonderful picture over here and you'll see him describing his journey and his usage of the system and his experience behind it. And this is, this is a real good profile how you can get in contact with Vernon just from here. And then maybe you want to take a look at myself. So here you'll see I'm. I'm also a designated professional in terms of being an accountant. I'm a cpac. And from here I actually share a little bit more about myself and my journey and my experience around this process of banking. So you can also see the very same things all on this website. Here's where we would recommend, if you're doing your research, to try to find a practitioner who practices the process of becoming your own banker. The infinite banking process. Infinite banking concept. This is a good place for you to find that practitioner, for you to see if you're a good fit with, if, if it's a good fit with you. So the next one I wanted to talk about as well, why are we talking about being an infinite banking practitioner? What is, what does that involve? Because once you know about these questions, does the individual actually own the policy designed for Infinite Banking? Is the individual actually building their program and their system? How much do they use it? Where do they use it? What other qualifications or experience does the individual have? Are they listed on the Nelson Nash Institute? Do they coach people actually using this process and what results have they actually achieved? What I would do is if I wouldn't, if I can't find answers to those questions through my research on Google and YouTube, the next thing I would do is actually probably book a time with that advisor to then ask them those questions directly. And so that's what, that's where you can gauge for yourself whether or not you feel comfortable with that process. Now, what is an Infinite Banking practitioner though? So maybe we can shed some light on what it takes to be an Infinite Banking Practitioner. So of course you've got to go through additional knowledge, training and experience on practicing this process, which is beyond having just a life insurance license to get listed on the Nelson National Institute. You need to be interviewed by the board of directors to see if you're a good fit or a candidate for learning about this process. Then you need to go through another credentialing process like testing. And then after you go through that, you actually need to be paired with another trained practitioner who's actually also practicing this process in their life. And so the kind of training you're going to get is also very important. It matters on who that training, who you get that training from. At least, you know, I can speak from the ascendant financial perspective. The amount of the training that we go through is quite rigorous. You've got to go through many cases with the amount of cases at least I've seen. In my chance to work with very experienced teammates such as, you know, Vern yourself, I could really fast track my learning. I didn't need years to take, I didn't need to take years to gather the case volume of what other life license individuals had to go through and see. Now, I wasn't fortunate enough to meet Nelson Nash, the pioneer and the founder of this concept, but at least for Ascendant Financial, our teammates, Richard Canfield, Sarbloghil Jason, Jason Lowe, our CEO, we were fortunate to have people who have actually been mentored and taught from Nelson who knew him very, very closely.

Yeah, absolutely. Henry, this is so key. It's so important to actually be working with, if you're a practitioner, someone who's looking to not only implement the process in your own Life. But you need to be proficient to actually work with a client and coach them to implement the process. So we get, like, literally strapped to the hip of an authorized practitioner who has many years of experience and has, to Henry's point, actually had reps who's seen hundreds and if not thousands of actual cases and worked with clients. So we get that, all that experience, that history of momentum from that coach. But people go and try to do this on their own if they're not authorized practitioners, or even if maybe they are an authorized practitioner because they're working with a mentor, but they're still trying to kind of figure it out all on their own. And maybe they're not implementing the process. Maybe they're seeing one or two potential clients or prospects per week. I mean, that's great. But it's going to take, to Henry's point, years and years and years of trial and error and wins and losses and messing things up to actually get the experience that they need to truly coach people on the process. So we get to see, you know, hundreds of cases in our training process here at Ascendant, the mentoring ship program that we go through just by watching a really successful authorized practitioner and then working with them on those cases to learn how to implement the process and then start to work with clients. We actually have a criteria that we have to sort of get checked off on in a certain period of time to actually say, okay, Vern or Henry or Sarbla or whoever, you're ready to go. You're ready to actually. You've been vetted. You're ready to actually work with clients one on one as an authorized practitioner. Because, again, you are now proven that you've implemented the process in your own life. You're using it, you're expanding your system, and you've proven that you can walk a client from A to Z to actually set them up to implement the process and achieve specific objectives. Henry also mentioned that, you know, we have teammates who were lucky enough to actually know Nelson personally and who were quite close with him and who directly mentored underneath Nelson. So part of our mission here, part of the practitioner, the whole Nelson Nash Institute and Ascended Financial, like a part of the mission is to actually, again, build and preserve Nelson's legacy because, again, Nelson left this to us, right? He's gone now, God rest his soul. But, I mean, it's easy for people to sort of change and manipulate and get away from those. Those rules and the foundation that he put in place. So part of our mission is to actually teach and implement and coach this process exactly how Nelson taught us to implement it and exactly how he teaches us to implement it in this book.

What are some of the red flags to be really aware of when it comes to this process and your research when you're going through this is. And some of that does include maybe some people go through doing an additional spin on their interpretation and they're like, okay, you know, when Nelson founded this concept, why is it relevant in modern times? And so we're definitely going to dive into that. So the first one is they're hyper focused on the insurance carrier with the best numbers for investment and the best rate of return. They're focused on the rate of return on the insurance policy, the interest rate when accessing policy loans. And they're looking at it completely from a investment angle. Vernon, you want to add to that?

Yeah, again, exactly. They're looking at it from an investment angle or they're looking at it from like you're pointing out a product angle. Like, Nelson clearly says that this process has nothing to do with life insurance. To implement becoming your own banker, you actually don't need a policy. The policy is literally just a tool. Right? I could practice the concepts, the idea of becoming your own banker, the infinite banking concept, by using a shoebox as my tool. But a shoebox is a crappy tool for the job. I could go out and cut my grass with scissors, but that's probably not a smart idea. To achieve that objective, maybe I want to have like a push mower or something like that, right? So people focus on the product and the features and the benefits and the rates of return and all of that stuff. And again, this is a process. For one, it's not a product, and for two, it's not about rates of return or investment or anything. Because this, first of all, the tool, whole life policies are not an investment that are properly structured for banking. They're literally a savings tool. The growth within them exists because of contractual guarantees. But that's all just, you know, that's all just fancy stuff. How do I actually use the tool to achieve objectives and practice the concept of banking? If somebody is talking to you about rates of return and growth and interest rates and ridiculous things like that, hey, this policy is better because it has a lower interest rate on policy loans than this company that clearly states, once you understand this process, that right away clearly states that a, they do not understand the process of becoming their own bank or the infinite banking concept in Canada, and they are not actually using the process of banking and using the Policy system because if they did, they would understand that I don't care about the interest rate, Henry, because every penny I pay back to my own policy as interest. A, do I get to use it again? Yes. And B, do I co own the life insurance company? Isn't all of that money that I pay back, whether it's principal or interest or premium or whatever, isn't all that money being put to work at the life company that I co own so that they can generate profit and share.

With who, our policy owners?

Yeah, like it's just like. So that's the point that we're trying to make without getting too into details of exactly why. That means they don't know what they're talking about. But if they're saying those things, it means that they don't know what they're talking about. As simple as that.

And you know, this is a real good point that you're talking about a process. So the next red flag to really be clear about is they see IBC as a strategy, not a process. And we know a process. And when we talk about process of banking. So let's elaborate on that, you know, instead of, you know, you'll hear us say, instead of, let's say outsourcing your wealth to someone else who's using it to make more money for themselves without sharing the benefits with you, we help Canadians take control of the banking function in their life. We create that private banking system. And yes, like Vern mentioned, we use a properly designed participating whole life insurance company with a mutual insurance company that all policy owners co own. And that process is more than just the product. The process involves multiple pieces together, not just the one piece. And the analogy I can share with you and you know, I, I watch basketball and one of the players that I like to watch is, let's say Kawhi Leonard. When Kawhi Leonard was with San Antonio, right. He had, he's a wonderful player and he worked. He was on a team with a couple of hall of Famers, Tim Duncan, Tony Parker, Manu Ginobili and other teammates who knew their roles. There was Greg Popovich, you know, hall of Famer coach, and an amazing management team. That's how they had an environment to have won a NBA championship. And then, you know, he parallels that same, you know, formula to the Toronto Raptors and again done very, very well. But now where is he? He's with the LA Clippers. And you know, Paul George is a great player, but they are not even in the playoffs right now. Right. So these are You've got to have a process which is multiple pieces. And when it comes to us and our banking process, you can design the most wonderful tool, the banking system. But you don't ask someone like Kawhi Leonard to guard centers. You don't ask Kawhi Leonard to get the most rebounds. When you have the right pieces together, which is that process, and it flows in the way that it's supposed to flow. There are each side has its pros and cons. If you hyper analyze just on that product, which one gives you the best dividend, which one gives you the best.

Interest rates, or all of that nonsense jazz, it doesn't work. You need the other components of the pieces to form the process of banking.

One of the things that we talk to people about is exactly that. We're not really going to change, maybe even your objectives of what you want to achieve, the things that you're already working toward. We always say all we're really going to change is the process by which you go and achieve those objectives. As I mentioned earlier, you know, paying off debt, for example, paying off debt is easy. All I got to do is slam a bunch of money into the debt and then eventually it'll go away. But the problem with doing that process, that is a process. The problem with it is I'm sending all my money away. For one, so I'm giving up all that growth potential. For two, I'm not building any savings or any kind of assets. And for three, oh, I just paid off all my debt. Henry and I just ran into another problem. Canada. You ever noticed that you always need money? You ever notice that there's always objectives, there's always things you need to pay for. So if you just paid off all your debt and gave away all of that savings, when you need money again, what are you going to do? Well, you're either going to save up money again in someone else's bank and then spend all your cash, or you're likely going to do what most Canadians unfortunately do is you're going to have to go back and borrow from someone else's bank again. So you're right back into that rat race of, oh, now I got the credit cards racked up again just after paying them off. And every time an opportunity comes up, you can't take advantage of it because you got no money, because you're always financing and paying, sending it away. So we're just going to change the process to achieve exactly the same objective. As I said earlier, let's just redirect some of that capital, build up a system that continues to grow and gain momentum while you're eliminating those liabilities. And we're redirecting the savings that every time we pay down some principal, we're redirecting the savings on that minimum payment back to your system or anything else that you would have given back to the bank. We pump that person, your system, so that you're the one collecting and accumulating the money so that if life happens and you need access to capital, we can interrupt that plan and we can just go and access money from your own system. You get use and control over the money so you can take advantage of opportunities and solve problems that will inevitably happen because there's this thing called life that just keeps going right. Just change the process. It's not about a product. It's really good, Henry.

Not a strategy.

It's not a strategy. It's not a strategy.

Yeah.

It really is a lifestyle. Like, Henry, correct me if I'm wrong. When you were going through the process and you first started implementing policies and it came time for, like, an action, let's say, to prioritize your premium or your loan repayments over any other use of money. When you first started, if you think about it, didn't it kind of take something, let's say money showed up, you got paid. Didn't it take something to, like, rewire your thinking and go, oh, I'm going to go pay this bill or I'm going to go do this thing. I'm going to go achieve. Oh, wait a minute. Nope, I can't do that. I first need to take that capital and redirect it to my policy, whatever your system looked like, but you paid a loan first or you deposited premium first, and then you took that extra step and go to borrow money from your system to achieve that same objective? Like, that took. You had to interrupt your old way of, like, thinking and how your patterns work to retrain your brain to prioritize your system. Is that. Am I crazy, or did you kind of go through your own version of that?

Oh, of course, I had my initial struggles without even thinking about it. I just, you know, let the money just stay in someone else's bank. But now, deliberately, there's mechanisms that I've already designed for myself to have the money pay me first. Even though it goes bank, it'll pay me first. And that's actually a deliberate change that I had to interrupt in my previous default programming.

Yeah. And so that is a lifestyle, that is a process that you're implementing that's not a strategy, that's not an idea. It's a lifestyle. It's a process. It's something that you've made important. And when we make time for things that are important and we execute on things that are important, process of becoming your own bank or the infinite banking concept is not a strategy. It is a process. It's really a lifestyle. What do I mean by a lifestyle? Like, just think about this for a second. I always, I've talked on many other videos in the past that, you know, I used to be a much thicker guy. In fact, Henry showed my picture on the, on the Nelson Nash Institute earlier. And maybe I got to update that because my head was taking up the entire screen. Here's the thing. I struggled for many, many years with my health and with my diet and exercise. And it's pretty darn easy, right? Eat more salads and protein or something versus like sugar and deep fried foods and get some exercise in. Like that's a simple formula. Simple, not easy. We have to prioritize what's important and we have to make time for it and we have to put that in front of everything else. So in other words, what I like to do is I like to chill sometimes and relax. I do a lot of productive things, but sometimes I just want to be with my kids and I want to completely unplug and I just want to hang out. So we might watch a sitcom or something on just some silly comedy and relax. I'm completely unplugged. And that's a really, really good thing to do. But too much of that is a really, really bad thing to do. So before I allow myself to do those kinds of things, I prioritize important things like making sure that I eat the right food and getting some exercise in because then I can kind of have some relaxed guilt free because I know I was productive. And I put a deposit into the health bank, if you will, right? So the same thing goes with implementing the process of becoming your own banker. So sometimes Henry and I like to go and probably just have some fun. And you can see in my background, I have a lot of Lego and things like that. I could spend all my money on Lego, but I prioritize my system, my capitalization, paying myself first, like Henry said, depositing money into my own system. I prioritize that over any other use of money. When I get renumerated, when I get compensated. I don't just take that money and run to the LEGO store. I take that capital and I immediately direct it to my policy system and, and I use policy values, buy a policy loan to finance my lifestyle. That took something to retrain myself and I made it important because I understand building my wealth and building my legacy. Nobody's going to do it for me and nobody cares about it more than I do, just like my health. So I prioritize those actions and I make it a lifestyle. And you can too. So make sure you go to watchibc.com that's watchibc.com to learn more about the process of becoming your own banker. The infinite banking concept in Canada.