The Banking Blueprint That Will Build You Lasting Wealth

We learned a lot from this gentleman. His name is R. Nelson Nash, and one of his famous quotes is, everything begins with the way that you think. And the reason why I'm sharing this quote is because we're going to be doing a lot of thinking tonight. A lot of what you see tonight is going to challenge your existing thought process, and it's going to generate questions that are going to come up for you. Okay?

Right. So as we go through tonight's session, your thinking is going to be challenged. And that is a good thing because that will lead to questions. Questions are great because that leads to further clarity. And clarity is good because that leads to confidence.

Okay. But in order to do all of that, I'm going to need all of your commitment or I'm going to need your commitment to participate tonight in tonight's webinar. All right, so is that too much of an ask? And if it is, you know how to exit the webinar. But if it's not, what I'm going to ask you to do is to.

Click this QR code via your camera. Or at the top here, you see this site called mentee.com. so you're going to go to that website, menti.com and you're going to enter that code. That code is going to allow you to answer the question that you see on screen. Just like that, someone answered it. Okay.

So remember, I said participation. This is how it's going to be for the rest of the webinar. Whenever I have questions on the screen, going to see something similar to this where you're going to have the opportunity to submit an answer or to vote your answer. Okay.

Awesome. I'm getting some answers coming in already, so I'm just going to leave this on for 30 seconds so everyone can get set up and then get. And then we can get into the next slide.

All right, John, is anyone having any issues in the chat or anything? Seems pretty straightforward. Pretty smooth.

Very. Everything is going smoothly.

Awesome. Awesome. Awesome. All right, I see more answers coming in. What's our participation or participants for tonight? We got 60, but 50 of those are attendees. So we're going to need some more answers coming in. We're at 16. Once again, you want to go to mentee.com and then enter the code or you can use the QR code. I believe Quan has put something in the chat where you can click that link and go directly to the page as well. It should be pretty seamless. Everyone, if you're not very comfortable with using a phone or fancy Apps. This isn't one of those. It's pretty. It's pretty simple to do. Okay, going to wait another few seconds here. Okay, awesome, awesome. More answers come in. This is great. This is great. I love the person who chose the. The sole person who chose. I don't have a choice. That's awesome.

All right.

Yeah, we got one in there. Thanks, Kwan. Thanks, Kwan. Making life easy is definitely what we all like to do.

All right, I'm going to go on to the next slide. Everyone's going to have an opportunity to join that again. Join that link again so you can have it open on your end. And we're going to keep going. All right, awesome.

Okay, so that's the title of today's webinar, if you didn't know already. So we're going to learn on how ibc, the Internet banking concept, can help build lasting wealth and security in our lives. Okay, we're going to go into an in depth conversation about that tonight. Where is everyone chiming in from? Here's another chance to use that app there. So you can. You should get a prompt to enter where you are from and that should pop up right there on screen. Awesome.

So this should be fun as it comes in. Nice. Nanomo, we got Leamington, Ontario, Oslo. Wow. That. That's not in Canada, that's for sure. I don't think it is. Toronto's in the house. Okay. I'm from. I'm coming in from Toronto as well, so that's awesome. Wow. We got more coming in. It's getting bigger. Lots more cities in Lloydminster, Aurora, Euler Country. That's a. That's a unique one that I haven't seen before.

What else we got here? Calgary. Okay, kiss Pam. Sis. I hope I said that right, John. You probably can do a better job than me at that one.

So someone said in laws trailer. That's great. That's good. That's awesome. All right, cool, cool, cool. Let's go on to the next slide here.

John. I see the chat go blowing up as well. I'm assuming people are chiming in in the chat as well.

Absolutely. It's blowing up.

Awesome. So the next question is what is your gain in the past week? So this question is inspired from the values that ascended financial have. One of our values is to focus on the gains in our lives rather than the gaps. Our brain sometimes is wired towards negative thinking and we always want to stay positive. So whenever you get the opportunity to think about what you're grateful for, what is a gain in your Day on a day to day basis that can help your spirits and help you go through the day better as well. Okay. So please put in something that you gained in the past week. It could be something as simple as spending time with family. For me, it's doing this webinar tonight. Spending this time educating you all on infinite Banking.

For someone else, it could be having a good day at work, a productive day at work. Someone else, it could be, you know, a sale in their business.

Awesome. Someone said, got two policies approved. Stability. Okay. Very nice. Time with friends. Awesome. Family. Trip. Family. Family. See lots of family. Okay. Awesome. Awesome. We're all about family as well. Birthday celebration. Cool. First policy approved. Awesome. Started first policy. Okay. We got some clients and Infinite bankers on online with us. That's awesome.

Finished laundry room. Cool. We've got some Renault's being done. That's cool. Do I see concert there? Yeah, I see concert in there. That's cool.

Love to know where you went. Recognition at work. Awesome.

Great. These are wonderful guys. Wonderful. Keeps the positive energy flowing. Thank you. Thank you. Started LLQP okay.

Reading. All right, let's keep going. Nice.

Less financial stress. I like that.

Yeah, I like that too. I like that too. All right, so what are we going to talk about tonight? So talk a little bit, little bit about Ascendant Financial. For those who don't know Ascendant Financial, of course there are ways of finding out who we are. You can look online, you can go on our website. Okay. We're going to cover what is a bank and why do we even use them. Okay. Then we're going to look into the problems of a savings account and the traditional banking system. And then we're going to dive into the infinite banking concept and we're going to look at traditional banking versus infinite banking. All right. And then of course, towards the end, you're going to have an opportunity to ask questions. Live with us here. Okay.

Perfect.

So who is the Senate Financial? So we've been around for quite a while.

We serve people. Our primary mission is to help educate Canadians and Americans now on the process of Infinite Banking. Okay. So we were mainly Canadian based, but we just opened up the borders in America as well about a year ago now. So we help both sides of North America. Okay. And yes, in Canada we go under Ascendant Financial and in America where we go under Life Eva. So for the Americans in the crowd, that's who you would be reaching out to.

Awesome.

What do we do? We help you rethink your thinking about how banking is conducted. Through the education that we put out online. Mainly online. Okay. So we have a YouTube channel. It's called Bankers Vault. If you haven't seen it already, I encourage you to see it. I believe this particular webinar is being broadcasted live on YouTube. So hello to everyone on YouTube, and thank you for chiming in there as well.

Okay. If you haven't done this already, I encourage you to do so. To subscribe to the channel.

If you.

We release videos on a weekly basis. The videos. Videos have a lot of valuable content on the process of Internet banking as well as general personal finance ideas and concepts. Okay. And yes, smash the like button for those on YouTube. You know what I'm talking about.

We also have a podcast. I love listening, especially when I'm driving or when I'm doing chores. And we have a podcast exactly for that purpose. We have a lot of clients who have given their stories on podcasts as well. So client episodes is what we call it. So if you're curious to see how this has been working with people using this, then that's where you want to go. You want to check out our podcast, Wealth Without Bay street. And there's a ton of great pods to listen to.

All right, books. So I know this image looks a little grainy. Apologize for that. But this is one of the books that we focus on when we share this message with people. Everything that you learn today that I'll be sharing with you today stems from this book. We just put it in our own words, and we try to convey and break down the message as simply, as simple as we can. But if you are serious about practicing this concept, this is the book for you. Okay. And I'm sure some. Someone, one of my team members, is going to put that in the chat there.

Yes, it's already up.

Awesome.

Thank you.

All right, trying to go to the next slide. There we go. All right. What is a bank? Okay, by definition, a bank is a financial institution that accepts deposits, offers loans, and provides financial services. I'm pretty sure we all know that we all use a bank, so we're all pretty familiar with this definition. Okay.

Some types of banks, you have commercial banks, you have savings banks and credit unions.

What are some functions of a bank? So it accepts deposits, it provides savings accounts, some credit products, like a credit card, line of credit, things of that nature. And it. It. Some banks offer financial advice as well and provide wealth management as well. Okay.

Here'S a question for you all. Why do you use a bank? Here's your chance to use the Mentimeter voting software there. So go ahead and shoot in your answer.

All right, so this is ranking based. So let's see which answer shows up at the top here.

All right, Keep them coming. Okay. It looks like that's what I was programmed to. Is in the lead right now.

Okay, here comes. I don't know where else to put my money.

This is awesome. Keep it coming, Keep it coming.

All right, all right. More answers coming.

We have some coming in in the chat also.

Okay.

But I, I love the mentee. It's colorful. It's lovely.

Yeah, yeah, it's beautiful. It's beautiful to look at. Once again, everyone, you just go to mentee.com, put in the code and you should be able to provide an answer. It literally takes two clicks or three.

Awesome. So it looks like we have a clear winner here. That's what I was programmed to do. Seems to be at the top. And I don't know where else to put my money. Is a very close second. In fact, it's not that close, but close enough. And that's what I was programmed to do. Is getting a further lead now. So that's cool. So, okay, that's it. Right. When you think about why you use a bank, that that's pretty much why there. There isn't much else to use. And that's kind of what we are programmed to do. We're programmed to put our money into a bank. Back in the day, our ancestors, before banks existed, they would use a private safe. They would use maybe, you know, put it on their mattress or find other places that were quote, unquote, safe to put their money in. Right. But in today's day and age, we're programmed to use a bank. Especially now with everything going digital for the most part, we are so used to just opening a bank account and, you know, that's where our money goes right away as soon as we earn some. Right. We don't even think twice about it.

All right, next question. Why do you save?

Why?

What is your reason for saving money?

Go ahead and throw in some answers there.

Okay.

So all of the above. Okay.

Awesome. I'm assuming something's come answers coming in the chat too, John.

Yes.

Okay, Very cool.

To build a new world.

What else is coming? To purchase large items.

All of the above. Very nice. I see retirement in there too. I see some more answers. So 16 for all of the above. So looks like that's a clear winner there. Very cool. So we save our money for all these reasons. This is why we put our money into A bank. Right. Because we want to save it for whether it's protecting your capital, whether it's for emergencies, big purchases like vacations and cars and houses, even retirement purpose, or supplement your. To supplement your retirement. Right. Or passive income as we like to call it. For investing. Right. Before you invest, you have to save the money, right? Absolutely. So awesome.

Cool.

All right, so before, as I, as I just said before, you do anything financially, your money has to be saved somewhere.

That is the main reason why you use a bank to save your money, because you have to park it somewhere. Your money needs a warehouse.

Now what are some problems with your current warehouse, AKA your, your bank account? So this is what we're going to go over right now. So let's talk about inflation.

Right.

The silent assassin. So what you see here is a chart and the source is at the bottom there on, on the screen. And it shows what inflation has been like since the early 1990s. Okay. So as you can see, it's pretty, it fluctuates, but you can fair to say that's around 2 to 3%. Okay. Or 2 to 2 and a half. And yes, in the last couple years it has been crazy. And you can even argue that the prices of certain items and goods and services are far more than the percentage that is shown on screen. Okay. Especially in the last couple of years. Now think about your savings account. Is it keeping up with inflation?

No.

Okay, just going to let that, let you answer that right here. Does your savings account keep up with inflation?

No. A lot of no's. A lot of no's. When you think about the interest that you earn in your savings account, it's fairly low. I know it's been high in the last year or a couple years even due to the increase in the interest rates. But prior to that, especially when Covid happened, or even before that, interest rates were fairly low where the rate that you were earning in your savings account wasn't even keeping up with inflation.

Lots of nos coming in. Everyone's on the same page there. Awesome.

Some other problems, pesky maintenance fees. Right. We all can attest this. Paying the 5 to $20 just to have a bank account open and then you got your transaction fees over, over that as well. If you need to do some additional withdrawals, things of that nature. Right.

Accessibility limitations. I think we've all been there where there's been a limit on how much we could take out on a daily. Right. And, and this is our money that we're putting in the bank. Okay. It's our Money, but they tell us how much we can take out.

I think there's something wrong there.

Taxable growth. So the interest that you earn in your savings account is taxed or can be taxed, and you generally receive a T5 in the mail that would show you what your potential amount is that you need to file taxes on. Okay.

So there's a recap. So it doesn't keep. When some of the problems with your current warehouse is it doesn't keep your money up with inflation, maintenance fees, limitations and accessibility, and taxable growth. Okay. Oh, wait, there's more.

Some. There are some other problems that you may not have considered. Now, here's a question. It's your bank account, but is it your bank?

Absolutely not. Absolutely not. You. You. It's your bank account for sure, but you're not the owner of the bank. Someone else's.

What happens when you use the money for anything that requires money? So when you utilize the money from your savings account, what happens to it? Please share your answers.

All right. Lots of all of the aboves.

Okay. Yeah. So your choices are you lose control of it. That happens for sure. Because the minute you spend the money, no matter what you spend that money for, whether it's an expense or an investment, you're losing control of that money. The money is. Is. Is either in the ex. In. In the item that you. Or the service that you purchased, or it's in the investment. You don't have control of the money. You control the item or the investment. Okay.

It stops earning interest and the compounding stops. Absolutely. So the minute the money leaves your savings account, it's no longer going to generate any interest. You've effectively altered the compounding that began when you put your money in there. Right.

And your bank account depletes the minute you take out the money, your bank account depletes by the amount that you took out. Okay. And then guess what, you got to work again or earn an income again to rebuild that amount back up.

Yeah, but that's new.

To us because we were. We were brought up thinking, yeah, give. Give away the money. Get the stuff. So what you are saying, there is another way?

Exactly. Exactly. There's another way. And we are going to get to that for sure.

Yes. So after looking at the problems that your current, current warehouse has, how much control does this give you with your Sir. With your savings, does it give you less or more control?

Less control.

Yeah, yeah, yeah. Looks like everyone's on the same page. Fantastic. Okay. It gives you less control.

Okay. And one thing certain you are all here because you realize that, okay? Deep down, you realize that. That you want or need more control with your savings, otherwise you wouldn't be on this webinar. You want to find another way, okay?

So the type of warehouse that we described, the bank account, okay, it exists within the idea of traditional banking concepts, okay? So the way we traditionally bank, the way we've been programmed to, that's. That's the idea in which this type of warehouse, a bank account, a savings account, exists in, okay?

The savings account is simply the warehouse used to implement traditional banking concepts like saving, spending, and investing, okay? They're all banking concepts.

So it's really the traditional banking concepts and system that limits your control of your savings.

So if you want to change your savings and gain more control on your money, then what you first have to do is change the way that you are banking.

Okay? So you have to change the process of banking.

What you. What you see on screen now is the four players involved in the banking function, the process of banking. Okay? So there's four players. And this is. This is straight from the book by R. Nelson Nash, the infinite banking concept, Becoming your own banker.

Okay?

He talks about these four players. The first one is the. The depositor, which is the person that simply deposits money into the bank, which you all are familiar with. The second person is the borrower, the person that chooses to borrow or take out a loan or access a line of credit, any sort of credit that's considered borrowing. Okay? The third player is the banker. So the banker is the one that facilitates the transactions and controls the rules of the banking function. Okay? And then the bank owner is the individual or entity that owns the function itself or the bank where the money is stored.

Okay.

So next question. Which characters are you today?

Are you the depositor, borrower, banker, or bank owner?

Okay, we have some bank owners. Very nice. Those are the ones who started your policies recently. Very cool. And the other infinite bankers in here. Very nice.

Yeah.

But we're starting to see a lot more depositors and borrowers, okay? In fact, a lot of depositors.

All right, so if you're not practicing infinite banking today, then the two players that you are is the depositor and the borrower, because as you mentioned in the earlier questions, you're not the banker or the bank owner. Okay? If you are practicing infinite banking, and I'm assuming those are the ones that answered bank owner and banker, then yes, you would be all four players.

Right?

Okay.

Which of these are the most important? Is there any one of these players or characters that is less important than the other.

Yeah, yeah, all they all are important, right? All of them are important.

They all serve a purpose within the banking function. Right? The banking function cannot happen without any one of these characters or players. You need all four of them for the banking function to take place.

Okay, think about when you put money in. There has to be a, a bank or some sort of entity to put the money into. Right? That needs to be owned by someone. Then it's the bank owner. And then they have to be some rules in place to make that happen. That's the banker. Right? And then when you take money out or you borrow money, borrow against your money, for example, that would be. You'd be considered the borrower there. Right? So no one is less important than the other.

If you want more control though, you have to be all four of them. You can't just be two of them. Okay? You have to be all four players in order to have more control over the banking function and conversely, your money.

So what's the alternative? Okay, how do you become all four players? How do you gain more control? Okay.

So this is for people who are not practicing infinite banking already. What if there was a hypothetical banking concept that gives you more security, protects your money against inflation, gives you more accessibility to your capital, gives you tax free growth, and gives you uninterrupted compounding.

How much control does this give you with your money?

Yeah, more control, right. Just based on those concepts. All right? We're just, we're not even talking about anything except a hypothetical scenario with those particular concepts.

Right here. It makes sense. It makes sense that you would have more control. Okay.

Awesome. And it exists. This concept exists, and it's called the infinite banking concept. All right, so the infinite banking concept.

Was created by this same gentleman that I started my presentation with, Mr. R. Nelson Nash. Okay? He's the founder and creator of this concept. Once again, everyone on this team, we all owe him a debt of gratitude for putting this out into the world and giving us this opportunity to not only implement this wonderful concept, but to spread it with other people as well. Okay? And if you want to learn more about the man behind the message, then I encourage you to visit Nelson Nash film dot com. I'm sure again, one. One of my teammates probably already has the link in the chat, so click that, bookmark it somewhere. When you get some time, please give that a watch. It really gives you some good insight on who this man was. Okay.

As I said earlier, when you practice the infinite banking concept, this is all you get with it, that comes with it when you implement this concept.

And we're of course going to dive deeper into all of that.

When you practice infinite banking, you're changing the way that you are banking.

Okay.

And just like when you practice the traditional banking concepts that you're implementing today, you use a specific tool and that tool happens to be a bank account, right. When you're, when you're conducting banking today.

So when you practice infinite banking, you need a specific tool for that as well to implement it.

Okay.

And that tool is a participating dividend paying whole life insurance, which is a type of whole life insurance. Now again, we're talking about whole life insurance here because we need a tool to implement the infinite banking process or the concept of infinite banking.

And that's why we use it. Okay. The specifically designed whole life insurance policy has the features that mimic a traditional bank account and more. There are more features and benefits that you can get out of it. Okay.

So I know you're seeing this slide over and over again, but it, it's important to repeat this because these factors are important.

Okay.

And then what you notice is right at the bottom, there are some two bonus benefits. One of them is access to capital on your own terms, which we are going to talk about later on. And the next one is tax free death benefit to your beneficiaries. Okay. That's something that you don't have today when you use a general, a regular savings account. Okay. It is essentially a private banking system disguised as whole life insurance. And that's why we use it.

Would having these features give you more control over your money?

Definitely more.

Okay. One person said no.

That'S interesting.

But the majority is saying yes. Okay.

All right. So we need to understand whole life insurance a little better in order to understand how we can use it for infinite banking. Okay. So there's four main components that you need to remember when it comes to understanding whole life insurance or a participating dividend paying whole life insurance. The first one is premium. Okay? So premium is what goes into the policy. It's the deposit essentially. Right. The same way you deposit money into the bank account today you're going to be depositing money into the whole life insurance policy, which is your new warehouse now. Right. That deposit is called premium. That's the insurance term for it, but to us it's a deposit. Okay. Death benefit. So this is the money that's paid out tax free when a person, when the person insured becomes an angel.

Okay. Cash value. Cash value is your living benefit. So death Benefit is something that your beneficiaries or your loved ones receive when you become an angel. Cash value is something you can access while you're alive. Hence why we call it the living benefit, okay? It's your capital. It represents your capital. And this increases in value every single day. Tax free, tax free growth. Okay? We're going to dive more into cash value, but that's a, that's a basic understanding of what it is, okay?

Dividend. So when you have a participating dividend paying whole life policy, you get to participate in the divisible profit from the insurance company. And this is paid out once a year in the form of dividends.

Key concept number one. Remember that term cash value, that represents your capital, okay? Now.

There is a symbiotic relationship between the death benefit and the cash value. One does not exist without the other. This cash value, as I mentioned, the living benefit, it grows every single day, okay? And there's a reason why it does that, and it has to do with a contractual guarantee that is built into these particular life insurance contracts. Okay? The contractual guarantee is as it shares right there. By age 100, the death benefit and the cash value must match, okay? So because of this guarantee, the insurance company is obligated to grow your cash value. This is why it goes up. Okay? So remember, we're not talking about how they're growing it. That's a separate discussion. We are, we are looking at why they need to grow it, okay?

And because of this contractual guarantee, what happens in the outside world doesn't have as big an impact on the growth of your cash value. The cash value cannot go down. And that's just the nature of the contract, okay? Is, remember, it is a contract, not an investment.

Okay? Let's look at key concept number two. Accessing cash value. Right? Remember I said it's the living benefit, it's your capital, right? We also need to know how to access it. Okay? So when it comes to accessing cash value.

We don't withdraw it, we simply borrow against it, okay? And we're going to dive deeper again.

So when you withdraw cash value or when you withdraw anything, for example, your savings accounts that you use today, when you withdraw the money, you are stopping the compounding. You're effectively halting it. Okay? So if we did that with our cash value, then we might as well just have a savings account because you're stopping the compounding.

However, when you borrow against your cash value, the cash value continues compounding. It continues rising. I'll say that again. It continues rising as you Borrow against it. Okay? So in this case, you won't be interrupting the compounding. You're just gonna let it keep growing as you access capital.

Everyone knows compounding is the eighth wonder of the world, as the world calls it. But it's only the eight wonder of the world if you do not interrupt it. Okay? The minute you interrupt it, it's not so wonderful anymore because you stopped it. Okay? So you need to let it keep going.

And that is why we borrow instead of withdrawing. Okay? Now I know when I use the word borrow, your existing mindset, your existing paradigm is not liking that word. Because when we hear the word borrow, we think of loans and we don't feel good when we hear the word borrow. Okay? But I'm going to encourage you to embrace that thought and put it aside for a second and keep your mind open as I keep going forward. Okay?

All right, so let's talk about how we borrow against our cash value. Okay? So it's a process called the policy loan request process. These are the two main questions that the life insurance company asks you. How much do you want? Based on the cash value available and how much do you want to. How do you want to receive it? Sorry. Whether it's direct deposit or mailed or a mailed check.

Okay.

Those are the simple two questions that are asked, nothing else.

Here are some important facts on policy loans. Okay? So when it comes to policy loans, when you borrow against it and you receive that policy loan, which is money that you get to use, it's not your money that you're receiving.

Okay? It is the insurance company's money that you receive. And what is happening to your money, it's still in the policy in the form of the cash value compounding every single day. Okay? When you take up policy loans, it doesn't impact that daily cash value growth. Very key concept to remember, okay? And it doesn't reduce your death benefit while alive.

It doesn't negatively impact your future dividends as well, nor does it show up on a credit report. These are private loans. It's from, it's like individual to individual, or in this case, individual to an entity, right?

Doesn't show up on anyone's radar. Government cra, none of that, okay? Unless you reveal it. And again, we're not doing anything illegal either. Okay?

So at death, outstanding policy loans, if there is a policy loan that is outstanding, it simply gets deducted from the overall death benefit and then the remaining death benefit is paid out on a tax free basis to your loved ones and your family.

Here are some infinite banking rules. When you access a policy loan, okay. When you access a policy loan, you always want to have a plan to repay it. Okay? When you read the book, this concept is called don't steal the piece. Okay? I'm just going to leave that at that for now. I encourage you to get that book and you'll see what I mean when you read it. You're going to remember my words. Okay? You always want to have a plan to repay your policy loans.

The interest accrued on the loan is essentially covered by the cash value growth. So your cash value growth doesn't reduce, okay? Your access to it reduces because you have a little bit of interest accruing on the loan. Right. However, the cash value, the growth of the cash value is covering that.

Okay?

And now as you make repayments, you get access to the same money again because it's going back to your own system. Okay.

Here'S a simple question to reinforce that previous slide. If your cash value grows $5 per day and the interest that is, that is owing on the policy loan is $2 per day, how are you doing?

Very good, Very good. You're moving ahead. You're ahead by a net of $3. Okay? So this is what I mean when I'm saying that your cash value growth doesn't reduce, it's just your access to. It reduces. Because now if you wanted to access that cash value, you have a net of $3, you can access that $3.

Okay? But the $5 is still there because now when you repay the $2, you get access to the entire $5. So here are some problems that we discussed earlier, right? The savings account protection against inflation. So when it comes to the traditional banking tool, which is your savings account, the deposits grow as per the interest rate. And the interest rate is determined based on what central banks determine the rates are, okay? And that has an impact on how much interest you receive in your savings account. And like I said, there are times when it doesn't even keep up with inflation.

When we look at the infinite banking tool, which is this whole life insurance policy.

We are converting our cash into cash value.

And by doing that, the cash value has to match the death benefit, as we discussed in the contractual guarantee earlier.

Okay?

The premiums are fixed amounts of cash that converts to more cash value over time. So every year that you put in that fixed amount of premium, you're actually getting more over time every single year in the form of cash value to access, okay? And over a period of time, it can keep up with inflation.

Here's a question again to reinforce the previous slide. If your maximum premium for your policy was 10,000 per year and you got more than 10k as cash value to access, isn't that a good thing?

It's not going to happen in year one, everyone. It will take some time and typically it happens around year three, okay? And then year three onwards, you're getting more than what you put in.

Security. Something else we talked about or alluded to at least, right? Gives you more security.

How?

When we look at traditional banking, the traditional banking tool, the savings account, for those of you who don't know it, is CDIC protected. Okay? And what exactly is protected? And you can actually look up those resources I have on screen and you can see for yourself that you are protected. Up to 100,000 of checking savings or GIC at each member institution. Nothing more than that, okay? Also, your money cannot be invested. So if you have stocks, if you have bonds, that's not covered under CDIC protection. And you can verify that in the link.

Now let's look at the infinite banking tool, which is the whole life insurance policy. It's assurance protected. So assurance is an organization, just like how CDC is an organization. Assurance protects the policy owners, okay? Again, there's a link at the bottom there for you to do your own research on it.

And what is protected? Any whole life insurance, okay? Because we are focused on whole life insurance. So whole life insurance is protected. What is the protection? It's up 200,000 or 90% of your cash value, whichever is higher. I'll say that again, up to 100,000 or 90% of your cash value, whichever is higher.

All right.

Next, protection of up to 1 million of death benefit or 90% of what you have, again, whichever is higher.

All right?

And feel free to take a screenshot of this if you, if you want to. All good. You're going to have the recording and replays to watch. But I, I created this table so that it gives you a good idea of the differences, right? So we're going to look through this together. So we have savings account on one side and we have the whole life insurance, which is the tool we use for IBC for practicing infinite banking. On the right side, okay? So on the left side, starting with the savings account, there's no death benefit, okay? So whatever you have in your account, when you become an angel, that's all that gets passed on to your family.

Whereas when you look at the tool that we use for ibc, because it's whole life insurance.

There is that Benefit, and that debt benefit is paid out tax free at debt to your loved ones, which is in many cases multiples more than what you put into it.

When it comes to savings account, your money grows via the interest earned. It's interest rate dependent. When it comes to whole life insurance, money grows via cash value growth. And it's based on that contractual guarantee that I discussed. It cannot go down. Okay.

With savings accounts, there are no dividends because again, you don't, you don't own anything, right? You don't own the bank. Whereas with whole life insurance there are dividends distributed. Again, very specific whole life insurance. In this case, participating dividend paying whole life insurance. Not every whole life insurance distributes dividends. Okay.

Maintenance fees. We discussed this earlier.

Okay?

Savings account has various maintenance fees that fluctuate with whole life insurance. Yeah, there's fees, but it's built into the premium. Okay. And all this is stated in your contract. When you get the policy, okay, it is never going to be in addition, in addition to your premium.

Right? Accessibility limits. We discussed this. There's limitations on how much you can withdraw, how much you can transfer. When it comes to utilizing whole life insurance for infinite banking.

Your access is based on the amount of cash value you have. If you have enough cash value in there, then that's how much you'll be able to access.

The growth that occurs via the interest earned in the savings account that is taxed. As we discussed earlier.

The growth that occurs with the cash value is tax free.

With the savings account, someone else is the owner of the bank. You just have the bank account. Someone else is the owner. With the whole life insurance policy, you are the owner of the policy. The insurance company simply services it.

You own the contract outright. They are simply servicing the contract.

When you withdraw, compounding interrupts, right? It halts, as we discussed, and your savings account depletes.

When you access money or capital from your whole life insurance policy.

You use policy loans against the cash value. So the compounding never stops.

And the cash value continues growing as if nothing happened. Whether you take out a policy loan or not, the cash value is going to grow.

Because of that contractual guarantee, that benefit must match cash value by age 100.

Knowing this, does this give you confidence that when you practice infinite banking, you are all four characters. The depositor, the borrower, the banker, the and the bank owner.

Nice. Nice.

Amazing.

Regardless of what you do financially, whether it's spending or investing, your money has to be saved somewhere first. So why wouldn't you save it? In what we just discussed, when it comes to infinite banking and utilizing the whole life insurance as the tool for it.

Here's another image that I want you to sear, or as I like to call it, a brain tattoo. Okay? Tattoo this to your brain and there's going to be a couple other ones that's going to come up. When you save money, this is what happens. Okay? I'm going to hover my mouse here. You should see my mouse. So you start where you start, and then you're saving for whatever it is that you want to save for, right? The. The reasons that you gave earlier. You save, you save, you save, you save. You reach your savings goal. What happens next? You use the money for whatever you intended to use that savings for, and then your money comes all the way back down, or so I should say your account drops all the way back down. If you use all of it, it comes back down to zero. And then you focus on the next goal that you're looking to save for. And then you build it back up again. You work harder, maybe you change jobs, maybe you get some additional sources of income, and then you build it back up, and then you spend it again or invest the money, and then it goes back down again. And then you build it back up. This is the life of a saver. Yeah. This is the cycle of a saver. This is what you are probably familiar with.

Let's talk about a borrower, about the borrower for a second. Right? So when you. When you look at borrowing money, it's actually worse because you are going below zero.

Because you're accessing someone else's capital.

And then you're making your way back up again by paying it back. And by the way, who's getting all the interest and the payments? The other person, the. The other lender. And then you're back to zero. And then maybe you borrow again, and then you're back to zero again. This is the life cycle of a debtor or a borrow.

Here's another brain tattoo that you have to sear to your brain when you practice ibc. This is what happens. Okay? This is the image you want to think of. On the left side here we have the starting point. Okay? You started your policy, all right? Your cash value starts growing. The green dotted line is your cash value.

It goes up, and as you can see, it curves as you go closer to 100, indicating exponential growth over time. As that grows, you get to access it by borrowing against it. Remember, never want to interrupt the growth. So you access capital in the form of policy loans. And then you repay those policy loans. As I mentioned, you always want to have a plan to repay your loan. Don't steal the piece.

And then you're back to paying off the policy loan. Notice how when you've paid off that first policy loan, you're not back to where you started.

You are further ahead.

So not only will you have access to everything you repaid, as I shared earlier, but you're also going to have access to the growth that that has occurred.

And this is what you would be doing when you practice infinite banking. And as you age, there's only going to be more and more for you to access.

Here's a question. How much money would you not put into your infinite banking system, knowing all this that we went through?

And be honest, be honest with your answers. Right? I can take a no. I know someone said no earlier.

But if it makes logical sense, then there's no reason why to say no to that. It's all about logic.

Regardless of your answer, you should commit to one thing and that is to learn more about this. Okay.

And the way to do that is to get in touch with us. Right? And you simply text schedule to the number that you see on screen. And then one of the wonderful advisors on our team, my, my fellow teammates, will get in touch with you. And here's what you can expect.

Okay?

It's going to be a 15 to 30 minute call and all you're doing is you're discussing on what you learned from this training. They're going to ask you questions. You're going to get an understanding of what resonated with you, what questions you may have. You're going to discuss how infinite banking can help you with your objectives. You're going to talk about your objectives as well so that the advisor can help, help you understand how infinite Banking can help you. Okay. You're going to have a discussion where you're at in your financial journey and where you're planning to go. And you don't need to bring any money. Okay? No money. Just bring your questions. That's it. All right.

Here's something to think about. If there was a chance that a call with our teammate, with our team, could enhance your financial future or your well being, how would that make you feel?

Send your responses in.

Yeah.

Yeah, fantastic. Hopeful. Happy. Better. Freedom, Peace of mind.

Safer. Amazing. And all you got to do is pick up the phone or, sorry, pick up the phone and have a conversation just to see where you're at and what's possible. Right? And then like I said, at the beginning of the the presentation, ask questions, because that will lead to clarity. And then once you have clarity, you'll have confidence on what to do.

See relief here. I feel good. Happy. Freedom. Ain't that good? Awesome. That's Jason's tagline. Whoever said that.

Very cool.

So in many cases, what you hope to learn by reading books or listening to podcasts can only be learned by attempting what you fear. Okay? Some knowledge is only revealed through action.

I, I, I'm doing this because.

Many years ago, I had a fear of what to do with my life. I didn't, I didn't have much purpose, okay? And by.

Putting myself out there and taking action on the books that I read, the people that I met, the podcasts I listened to, the videos that I watched, it helped me gain confidence and skills to get to a position where I attracted the opportunity to work with Ascendant Financial to help spread this message. But had I not taken that action, nothing would have happened.

To know and not to do is to not know at all. Okay, I just heard this one today. And, and it, it stuck with me. And I literally added it to my presentation just a few hours ago. I thought it was an amazing quote. Okay, I'll say it again. To know and not to do is like not knowing at all.

I was in your shoes in 2020 when I saw an ad on Facebook to learn about this concept. And I did the same thing you did. Okay? I watched the webinar, what I did, I took notes, I had an open mind and I asked questions. I took action. I had a call with the coaches at the time, and they led me through the process that I shared with you. And I just kept taking action because it made sense to me. It made logical sense.

And now here I am.

Getting to do the same to you.

Now you know that there is another way to save your money that will enhance your financial future and well being. You don't have any excuses now, okay? So you have to take the action needed to add a better warehouse, a better option to saving and growing your money.

The problem is not the banks. Okay? I know we talked about the banks and the problems with the bank accounts and all that, but the problem is not the banks. The problem is your dependency on the banks. You are dependent on them. Which is okay because some of you said you don't know any better. Right? That's what you were programmed to do. That's okay. But now you do.

Create more options. That's what this allows you to do. By implementing infinite banking, you're creating more options for you and your family.

Okay.

So become an infinite banker. Become a wealth creator and take control of the banking function, your money and your financial well being.

Awesome.

And that's all she wrote, everyone. So we're going to open it up for Q A now. John, if you can join me.

Yes.

And any of my teammates, you're free to come on screen.

That was amazing, Karan. So much value.

Awesome. Awesome. So everyone in, in the webinar attending, does anyone questions that pressing questions that you have? We're happy to spend a few minutes and take that up right now. Team, if there was any questions that came in the Q and A box that you wanted to address or you think that would be useful or valuable for everyone to learn about, then please, please share.

Well, we, we did have someone who, who wrote then, then answered this question, but he said they would like a written copy of this webinar quote. I need a copy of this. This is the best I have ever listened to. So I just thought I'd throw that in there.

Sorry. My zoom restarted and I'm happy it did it at that time. But Sebastian, I heard what you said and I was, I was asking that if you, if you could share. Who said that? That's amazing. I'm humbled.

Absolutely. It's.

I don't want to miss. Yeah. Larry J. Swarm.

Thank you. Thank you, Larry. Much appreciated.

Awesome. I'm seeing the chat here. Someone likes the addition of Nelson in the back. Awesome, awesome, awesome. Yeah, I added that. The rest of it is not my additions only that one is. The rest of it is my wife.

All right, we got a question for you here, Tran.

Yep.

In Canada, how do you take a loan out against a policy without involving a bank?

Great question. So as you have your discussions with your coach, they will enlighten you more on this. But some of the insurance providers that we use here in Canada, they have the ability to provide policy loans from their own pool of capital that they work with. So you don't need to interact with.

A bank in this case to access the funds or you can do it directly with the insurance company. Anyone want to add to that?

Yes, Ashley, Just push the policy loan button. So when you have an account set up with one of our insurance providers, insurance company providers, they you all you got to do is press a green button and fill out a four step process and answer those two questions that I talked about where you.

Yeah. And just to build off that trend. And most of the time you need a bank account to put that Money in and then move it to where you want it. So you still end up needing a bank account for the convenience of debit or checking. That's all you need. So you still end up using a bank account. You just don't, you know, you just don't use the other features at the bank, like the borrowing feature and all those things, so you get away from those elements, but you still need somewhere to put your money.

That'S transactionally transactional.

Sorry, I don't know what's going on, but my zoom all of a sudden decided to start crashing on me. I'm just happy it started doing that now and not during the presentation.

So, yeah, yeah, we got another question from an anonymous attendee and I don't like questions from anonymous people. So if you can just put your name in there, we'll. We may answer it.

I see a question here from Hugo.

So Hugo is asking. It's always an assumption that I have savings to start this. I don't, but I have money flowing through my bank paychecks and bills. How do I get more money to pay for a policy more effectively? Amazing. Amazing, Hugo. These are the kinds of problems we like to solve. So obviously I'm going to say get in touch with your coach and he will actually show you how there is a way of doing it Right. So you don't have. And this is to help everyone. You don't have to have a lot of savings to start this. Okay. If you do, you may be a little further ahead. Sure. But if you don't, that doesn't mean you can't start. It's not so much, so much important as to how much you start with. But it's important to start because when you start, you get that compounding started. Right. And then you can actually design your policy in a way that can accommodate for more capital as your income increases, as your savings increases over time.

All right, I hope that helps.

Does another question for you, Taran. Does the seer. How does the CRA not deem these deposits as taxable income? What deposits? Like you're making premium payments after tax. So, Franklin, I'm not sure if you can expand on your question.

There was a question from Tolu Olutade. I hope I pronounced this name properly. Why not? Other types of permanent life insurance? Can you show a side by side comparison?

Yeah, well, we can't show a side by side comparison right now, but what I would encourage you to do, Tolu, is to read the book the Infinite Banking Concept by R. Nelson Nash. And he Explains exactly why we work with permanent life insurance, specifically participating dividend paying whole life policies. And it's simply because they have the best features, if you will, that allow us to use it for the purposes of infinite banking. Right? Yes. There are other types of insurance insurances or permanent insurances available, but they don't have the best features to allow us to use it for infinite banking. And I'm talking intangibles. I'm not just talking growth, I'm talking about control. I'm talking about having ability to take out policy loans, put it back, have your cash value growth being uninterrupted, have your cash value growth based on a guarantee rather than an investment. Right. So those are things that.

Participating dividend paying whole life policy has that other permanent types of insurances don't.

Any other questions?

Yeah, there is a question from Dan Cote. May you explain at a macro level why multiple policies is best versus one large one?

Okay, I see the question. Okay, so may you explain at a macro level why multiple policies is best versus one large one? Well, it really just depends on your situation. Then if you have the ability to start a large policy, then that's the way to go, right? Or maybe you're in a position where you can ensure other lives in your family. Maybe you have, you know, I don't know much about you, Dan, but maybe you have wife and kids, right? Or, or partners that you could protect as well. And so in that situation, you may choose to have a system of policies. Okay. And as you, as you get familiar, more familiar with the concept, you will learn that it's not just about having one policy, it's about having a system of policies. Every one of us on screen here, we don't just have one policy. We have multiple policies within our system. And we have, we open it up for different reasons. Right. One is maybe we want to insure another life and we want to do it this way. Or another reason could be our income increased and our existing policy capacity is, is maxed out. And so we need to open up another policy to accommodate for more income. Right. So those are some reasons why you would look at opening multiple policies.

Yeah, that's a great question for meeting with your coach because there's a lot of ways to answer that one.

Yeah, yeah, absolutely.

Yeah. Good job. Craig had a question. Craig, that's something worthwhile to talk to a coach about, but that's not more of a question. That's a, a really weighted kind of how can we help you with something pretty big? So reach out to every coaches and have a conversation. But that's not a question that we're going to bring up tonight.

Was the question around why not other types of permanent insurance asked? Yes.

Okay.

If you want to add more to it, you can, Henry.

Well, we want contractual guarantees.

That's fine.

Yeah, absolutely.

That's a, that's a really good short answer, Henry.

R4.

I'm not sure this is a question that Hugo was asking here about. Maybe he's asking what are the qualifications to buy a policy and an age, resources, etc. I'm not sure if that was. He's asking that or.

What those are.

It's in the, it's in the regular webinar chat.

Lots of chat box.

Sorry I missed that, Sebastian. My zoom cut out.

No problem. No, it looks like I'm not sure if it's a question that Hugo wrote in the regular webinar chat. Qualifications to buy a policy, age, resources, etc. Perhaps he's asking what, what are those, what are those restrictions or requirements? Perhaps maybe you can speak to that for some.

Yeah, for sure. So.

It really depends on.

There's a few factors that the insurance company looks at, right. So when it comes to getting these policies, the insurance company is underwriting risk, right. They're assessing how much risk you bring to the pool of capital that they control. So some of the things they look at is mainly your health, right? They look at your health. So it pays to be in good health. Obviously, when you're applying for life insurance, they also consider age as a factor and they also look at, they also look at finances as well. Right. So those are some of the factors that they consider when it comes to qualifying for life insurance.

Franklin's got a question here, Taran. So if one takes the policy loan, an example, 400k, have this deposited in their bank checking account. How does one explain to the bank where this money comes from and why should it not be deemed taxable income?

Does anyone else want to take that?

Yeah, well, I've done it lots of times. I've never had that question.

So.

You know, I typically don't get those kind of questions when I deposit money in the bank. But if somebody asks, I would just simply tell them.

And it's not deemed taxable because it's just not. It's money I have somewhere else that I got access to.

Yeah, exactly. If they asked me, I would just tell them. And there's. There's nothing to hide there. Right. So I've never gotten asked that question. It's a Good question. I've never gotten asked it, but I feel like if I was, I would just tell them. It's not like you're doing anything illegal.

Nope.

And the insurance company is a reputable company since 1920 and even up to 1867.

Yep.

What, what, what is there to question in terms of where the money source and what the money source is coming from?

Right.

They're just another financial institution actually, when you study.

Life insurance companies.

Absolutely.

Yeah.

You're basically just moving money around.

Yep.

Great question, Joe.

Yeah, solid questions. It's all good questions. Keep them coming. We can go another few minutes. What time is it? Yeah, we'll go another 10. If there are more questions we can, we'll go up to 10 o' clock Eastern.

We have another one here. How do you become an IBC practitioner?

Well, what you can do is you can start out on our website. There's a careers page and take a look there and see what interests you. And start there.

That's. Yeah, that's a great place to start. And then obviously there's a, you know, a course to take and a mentorship to do. But it's a, it's a great journey and I encourage anybody that's got a lot of interest in it just to look into it. And as per trans comment, the place to start is in our website and you can get more information there.

Yep. Everyone on the call here, all the advisors on our team, we're all life licensed and we all have our infinite banking practitioner certification with the Nelson National Institute.

And we've gone through mentorship and lots of studying to get to where we're at.

And Franklin's got a good question. He's, he's all of 59. I wish I was 59 still. But yeah, you can still practice this, Franklin. So you know, you can still buy a life insurance, dividend pay and whole life insurance right up to the age of 85. So you got a lot of years to go.

Yep.

And if you can't practice it on yourself, Franklin. Right. If you can't practice it on yourself, you can do it on someone else. So you can own a policy on someone else as well.

Yeah, no problem. Franklin.

I see some questions in the chat. If you can throw it in the Q and A, that'd be awesome. We don't want to miss out on your questions, but we want to make sure it's in the Q and A box just to be consistent.

So another one popped in the chat there, Tran. I'll let you answer it. Are there Any restrictions on who you can take a policy out on?

You have to have insure. Great question. You have to have insurable interest in that individual. So there has to be a reason for you to take out insurance on them.

Right.

Because I know we're doing this for the purposes of setting up our own private banking system, but the insurance company for them, it's still life insurance. So they have to. You have to have a reason why as to why you're taking out insurance on that person.

Some easy examples are family members. It's fairly easy. Right. Insurable interest or your family, joint venture partners, business partners. Right. It can. It can't. It cannot definitely. It cannot be Joe Schmo down the street.

Right.

There's no insurable interest there unless Joe Schmo is a partner, a business partner, or joint venture or something of similar. Right. So that's what I mean by insurable interest.

Maybe we can share a little bit about how we use our systems. Maybe a quick example, each of us can maybe share of what we use it for and how it's benefited us.

We do have some questions, Tron, just before we jump into that.

Yeah, no problem. I was just saying in case there weren't any questions. Sure, sure. Questions first.

So people are dropping them in the Q and A box now, so.

Oh, perfect.

Is it Ema? And I don't know if I pronounced your name right properly or not, but she says has some cash saved. I was wondering how I go about putting that into a policy.

Okay, so talk to your coach. Your coach will tell you exactly what to do. And we get calls like that all the time where, you know, people have some savings, they have some deals from investments that were profitable, and now they've come up on some cash. Maybe they sold a house and they want to figure out what to best do with it. And that's a perfect reason to have a conversation with your coach to get some ideas on what to do with it.

And we got a great question about what's the recommended frequency of deposits? Annual, quarterly, monthly.

Great question. So when it comes to the life insurance policies that we work with, the two options that you get is annual or monthly. There is no quarterly option, at least none that I know of, and it's recommended to do it annually. However, depending on your situation, if your cash flow doesn't allow for annual, then monthly might be a viable option as well. Okay. So it's whatever works for you. And you can always switch it from annual to monthly or monthly to annual. Even after setting it up.

It'S flexible to your situation.

Curtis has got a great question. So he was denied a policy due to some. I think he was taken a supplement of some type and then because he was taking that, he was denied insurance. You just wonder how long before the life insurance company would revisit that. So I suspect it's after you start taking the.

Hormone that how long would that take before they would consider it? So that, that's kind of again a question we have to go to the life company. So there will be a time where they'll reconsider it. But it, it's not something I can tell you off right off the top. We'd have to talk to the life company but there is an answer. So reach out to your coach and they should be able to help that. Help you with that, Curtis. And I'm glad to see you're, you know you're going to start with family members.

And I'll just add for courtesy situation and we don't have enough details which life company you went through and each life company actually goes through different underwriting circumstances. So.

Don'T let that be a deterrent to already go through the suggestion. It's definitely explore that individually with your coach.

Exactly.

There's a question in the chat. What is the maximum. What is the maximum number of policies I can have on myself?

Yeah, I love that question. So that depends on your need for insurance. So as much as your need for insurance will allow for what is need for insurance? That is a number that the life company looks at based on your assets liabilities, primarily income. And based on that it actually there's a factor that they look at that determines how much insurance you should be getting. Because at the end of the day when you look at insurance it exists to protect loss of income.

Right.

And so it's not just loss of income for a year, it's loss of income for the years that you potentially be working for. Right. And so that would determine what your need is. So obviously it varies based on your age as well. Right. The factor that they look at. And so whatever number that is spit that is spit it out from that formula will determine how much insurance you can get.

Anyone else have anything to add to?

I think you covered it. I always tell people depends how big the policies you have are how much need for life insurance you have. So.

Yeah, that's right. That's. They also consider the existing insurance that you have. Yeah, absolutely.

Amazing. So we're almost. Yeah we're almost at the hour here at 10pm Eastern. Any last Questions? Maybe one more.

Yeah, Franklin's got a good one here. We haven't really touched on. It's more on the retirement aspect of it. So he's asking how many retirees usually are IBC members or I guess are practicing ibc. Considering the fact that if you take out a policy loan, it has to be paid back, seems like you always have to be working in a job. So.

We have a solution for that.

Yeah, you, you go ahead. No, please, Quan, if you, you please go ahead. You go ahead. You started. Okay.

Yeah.

So we have a solution for that. And that's part of retirement planning is that that's something that we do as well. And then there's different strategies and that's kind of unique to the person and what they kind of what they want to build and when they want to retire. And there's assumptions that we have to take into account there.

So.

Yeah, and that's just talking with a specific advisor. It does get to a point where, yes, you won't be paying that, that loan. That's kind of the short part of it.

Yeah, for sure. So you can. Thank you, Kwan. That was great. You can definitely plan it in such a way where when you get to retirement time, or if you are in retirement time, you can plan in a way where you can design a policy where you can access the policy of the cash value, but not necessarily with the intention to pay it back. Right. And it's, it's done in a very strategic way so that when you do become an angel, whatever loan balance is there, that's deducted from the death benefit, but there's still some death benefit left over for your family or your loved ones, whoever you're leaving behind.

It's a, it's a wonderful specialized program that is actually very common that people don't know about. It's called an insured retirement program. Insured retirement program that provides tax free cash flows for that retirement and it has no implication to your government benefits. So it's. With good amount of planning and exploration with your coach, it's definitely something worthwhile to consider.

And, And Henry, you can actually enhance your government benefits by doing that. Right. You can flow it through the system and then take it right back out through the insured retirement plan.

This, this is the benefit of now implementing Nelson's wisdom and message that we're putting all together.

Amazing.

Actually. And if we're done questions, that's. You kind of mentioned what we're using IBC for there, like what each of us are using. And that's actually one of my strategies. Like, when I first learned and built this, we built a policy for my wife. She was 28 at the time, so that she could retire at. She'd have the option to retire at 45. And working backwards with our coach was to say, hey, let's build a system where she could pull out three grand a month tax free. So that was kind of one of the systems that we built.