The Secret to Building Wealth That Lasts for Generations

So let's go into this. I'm really excited about it and one thing I really want to share with you is wealth isn't just a number on your quarterly investment statement.

And I just want to share. It's a state of mind.

Now there's two things it'll help you with. Money and time. So just out of curiosity, if you can just type in the chat, what does wealth mean to you? Because I'm really curious to know what's on your mind as I'm going to go through some of the content today.

And feel free to be a bit more specific too. So what does that freedom mean? Time freedom and legacy freedom 55 maybe freedom 60 freedom 50 freedom 45 financial stability. Okay, so I'm really glad to see some of the interaction with us and this is just the beginning. This is what is going to make tonight an absolutely a joy to spend time together with. So I see time and freedom. Financial money, okay, now it's really rolling in. Stress free way of life. More money, less money for the bank. Okay, so we all know money can't buy happiness, but it certainly can change the way you think.

So how you manage your wealth is a basis on how you think and what you do. And so as a starting point, here are two important questions that I'd love to have as a reflection from all of you just to share.

So what does money mean to you? Maybe just type that in the chat. What does money mean to you? What kind of emotions do you experience when you think about money? What patterns? And the next thing we're going to see is really what patterns of behaviors do these emotions lead you to? Are your current emotions related to having money? So you can survive and pay bills and just paycheck to paycheck, buy cars or buy consuming products, pay down debt or where, where what does money mean to you? Because one thing you will find is it's actually quite dynamic. Money is gonna what it means to you might evolve over time.

So I see experiences freedom tool not have to worry about money. Money is only there to transact my life. Money equals way more to do, way more to do positive for me. Okay? And it's not a surprise that money can actually have an emotional attachment to what you do with it. I mean if you imagine pulling up $5 and maybe cutting it, it's going to mean less to you. But if I suddenly give you a hundred dollars and ask you to cut it, you'd probably be a little bit more resistant to doing that. And please don't do that, that might be, that might be something illegal related to the monetary system. Okay.

The next thing related to money is what do you want from your money? So what goals are you pursuing when you manage your wealth? What impact will you have with more wealth or less wealth as it relates to your lifestyle?

So what do you want from your money? You can see everyone's reflection and what they're sharing is actually quite different. So safety and security.

Necessity for a comfortable and fruitful life. Less stress.

Access to goods and services. I want my money to work for me. Ease of obtaining family needs to work hard for me, even grow while I'm sleeping. Work for me. I want it to work for me. Okay. So we're trying to gain some momentum or physics behind the money because money doesn't really do anything. You just put it on the table. It physically doesn't move. But what you can do with the money and what you want from it can actually transfer in a very particular way.

So I see even build a legacy for the future, access growth for business and time. So what goals do you have with your wealth? Now this is just going back to the point. Now we went through a couple of those questions. What goals do you have with your wealth? Do you want to buy supercars with it? Do you want to brag and show boat it? Do you want to give it to charities? Do you want to make an impact in society? Do you want. There's no right or wrong answers. It's what you want. What, what goals do you have with your wealth? I see. Shirley, hello. Great to see you take care of three generations after me. You already, you're already right there with us together. I'm just going to show you how today build my real estate business, be a private funder. Okay, so those are some of the goals you have with your wealth.

Now just a quick checkpoint before I dive into it. Now this is really where we're going to have some good information here. Now, before my time with Ascended Financial, I was in professional services and in IT for quite a while. Now, obviously things happen in my life that I felt it was no longer my calling to be there. And one of the things I just wanted to relay as it relates to my experience there was, it gave me a lot of access to really insightful information. Now combine that, that I had the opportunity and access to work with very affluent people and let's just call them the ultra high net worth and that gave me the ability to witness and experience the challenges they've also went through. So you would think that if you had an abundance of money, they had, they had it all figured out. They had investment portfolios, they had streets named after them, they had names, buildings with their names on it. They had a variety of privilege, let's say that us may not have right now, but they still would go through challenges. And those challenges are very different. And so what is the difference between their challenges and our challenges? Well, the other thing that I want to just dive into from that experience and I did go back to actually pull up some of the information that I had, which was actually research and I had access to research and you know, I was kind of a geek. And aside from working very long hours, 60 to 80 hours, wherever I had time, I would actually study the research reports and research of things. And one of the things I wanted to give you a glimpse of in terms of the information that I had was that, and this is nothing new by the way, but I just had a little bit more particular details than everyone else. So you can look it up if you want that there are roughly nine personalities that you can loosely categorize for everyone. So I wanted to just share that out with all of you to see. So the first one I just wanted to share with you is the ultra high net worth personality types. It's a concept. And so the background I want to share related to all of this is the first one I just want to share with you is the family steward, which is 20% of the individuals. And at the bottom you'll have a source and it's a variety of information sources. But the key thing I want to highlight as it relates to the information that I'm going through with you is it doesn't really matter the personality that you're going to see and try to fit in categorizing. I'll explain what that all means, but I want to just use this as a basis to talk about the importance of what we're talking about tonight. 20% of the individuals were financial stewards. And financial stewards, the primary chief concern is taking good care of their loved ones. Their goals are usually centered around issues like paying for children's tuition, passing on wealth to their heirs. Family stewards are often conservative financially and protection is most important. And they usually, and this is the part where they're most focused on.

The next personality type is called the phobic. Now the phobic doesn't like to invest. Now I want to make sure I separate the term investing versus let's just call it speculating. So investing is a component where you actually have a risk of loss. However, there's also a potential that it gives you better efficiency, better better volume or better output based on what you're putting in. So I want to make sure there's a separation between that terminology there and they don't actually like investing and they don't understand it and they don't want to learn learn about it. They prefer to delegate that investment to someone else. Okay, so this is one thing I just want to highlight there. The next I want to talk about is the independent. And now the independent is a type of person who wants the freedom that financial security ensures and freedom to what they want to do when they want to do it. And to them wealth is the means to get to that independence. Now I'm going to go through a few other personalities. Then there's the anonymous. Obviously the name anonymous means something self explanatory. And then the last one, oh, am I. Oh, I've not been sharing my screen. I'm so sorry.

All right.

Okay, there we go. I have my screen shared. I am so sorry. Okay, so the next thing then is the anonymous individual and that's pretty self explanatory. And then I'm not going to go through the rest of the explanations here but the two I next want to highlight is the academic and then the gambler. And I just want to explain the gambler a little bit. And the gambler is to is investing for the sake of the excitement and the drama and of course they want that performance result. So you'll typically find them do things like the meme coins or penny stocks or maybe they're financial market traders. You have no ide. But one thing I just want to highlight in terms of the information that I'm sharing with you is to get into that ultra high net worth personality type and have that kind of categorized is you've reached a specific financial definition to fall into there. Now once it falls into there you will get into there. Now the next most important question and why I'm saying it is not that important in terms of.

Where I'm going next with it, is that why these proportions are the way they are and they're pretty consistent over time as you can imagine is because it's based on a personality or a mentality. Now the ones who are, let's just call them the gamblers, they're the ones who will enter into it. But if we, even though they may hold the same percentage but within that percentage of the survey or the research that's done, it's not going to be the same people. So this, obviously you can see the reason behind it not being the same is because.

They may have the kind of mentality that they just may not keep them there. So if I talk about now the family steward or the independent or the phobic or the anonymous, you can kind of see that type of personality is someone that actually would end up staying there for quite a long time. So that's why I wanted to highlight the gambler as an example. And then if I just summarize the rest of it, it's the keepers. So we're not talking about short term gratification tonight, we're talking about building for three generations and we're talking about how to build the right steps to get there. And it's going to take effort, it's going to take investment and of time and it's going to take a good amount of good coordinated action to actually build the requirements to get there. If you're just someone who doesn't have the discipline, the habits in place, the mentalities, then it's just not going to work that same way.

Okay, so just wanted to put that out there. Okay.

So all of what I've just shared with you is what's important is answering those two questions to uncover your values. What does money mean to you and what do you want from your money? Again, this can always change because of this life stage that you're going through in the situation that you're in and the kind of risks you will take. But the main thing now is.

Amongst the most common statements, those who don't want to create a legacy, though there's some things that come. I would rather leave less wealth for my children, so, or their children so that they're not lazy. This is still something that can exist in many of their mentality or maybe you can identify with. They'll be fine.

So the key that we're going to focus is on is actually securing your wealth and, and building it from there instead of working off of nothing. And so with that type of mentality, this is kind of where my thoughts are. Would you rather leave more money for Caesar and the commercial bank instead? Okay, so I want to give you permission to really realize that, that this is something you want to do.

So if we're, if you're not going to leave your money for someone else.

And not help, sorry. If you're not going to leave money for your family then, and help them with their debts or the challenges that they go through or even spending, then one of them sure needs help paying off their debt.

And it sure isn't going to make them less lazy.

So should your wealth reside with someone else or should your wealth reside with you?

Who should side with what to do with your.

Someone else or you? So just type in the chat, someone else or you?

Oh, yeah, it should be actually me, someone else or me. Everyone got that. Got that going. So, okay, awesome.

So if you answer someone else, you're in the wrong place. And respectfully, this would probably not be a good use of your time and you may want to watch this at a future time.

If you answered you or me for both questions, then you're in the right place.

So we're going to start with creating something powerful. And that powerful thing is a legacy. And the part I just wanted to highlight in terms of the definition is by will. And I want to say that this is going to make a lot more sense to you tonight when I say that. And it's not the will in terms of the document we're talking about by will.

Now, the greatest risk you face is not how much you make. The greatest risk you face is how much you get to keep and be faced with a reduction in the quality of life, not just your life, a reduction in your spouse's quality of life, a reduction in your children's quality of life.

A reduction in your grandchildren's quality of life.

So I want to make sure you have something to protect.

Someone in the lineage needs to build the legacy.

Is it you or someone else? Rhetorical. I mean, you can type it in the chat if you'd like. And the part I want to now just emphasize is if you can't protect it, someone who wants it more than you is going to take it from you.

So let's just kind of recap to say the foundation we're going to talk about is your money must reside somewhere. And we're going to build this warehouse of wealth.

So that somewhere for you right now is often represented as a financial institution. And I just want to share with you, the commercial banks are not your friend.

If they are, let me know. I'd like to have a conversation with you. Anybody who thinks they're your friend, I'd love to have a conversation with you.

So here's what we're going to cover tonight. What are the threats for building your generational wealth? I'm going to go through some, two very.

Particularly detailed case studies. And the emphasis of these case studies that I'm going to go through is actually to illustrate the requirements, the desire to keep and Protect wealth. And this is the Thompson family. The Thompson family is building and keeping their wealth, and it doesn't matter the circumstances that they're in.

So at an early age, you've been very well trained.

And they've even conditioned you to pay them to hold on to your money. That's a backwards concept to me and everyone else in our team.

So let's go deeper.

Have you ever thought back and wondered.

Do you even recognize Canada right now?

I'm just going to sit with that and let you let it land for a bit. Do you even recognize Canada right now?

Well, it's because the values and the laws have been changing right under your nose.

And I just want to share with you. It's always existed. It's just that now it's a lot more in your awareness. It's moving closer to extremes at a greater pace, at a greater intensity.

And this sounds very disempowering and because I just want to make sure that we're in the right place together on this is that you have no control over those changes.

Those creating the policies in Canada have different views than you.

There's an application of ideologies.

And it's a manifesto that was created in 1848.

And when you read that manifesto, if you're ever curious on what is going on and if you want that clarity, the events happening in Canada will make a lot more sense to you.

And that manifesto very specifically describes key steps to implement change at a societal level.

So have you ever thought about being on the government's payroll? Because that's one of the steps that's moving there, to be dependent on someone else instead of your own capabilities. And you'll often hear everyone talk about, oh, look at all this wonderful free money. Free money is tempting, isn't it?

So this is an act related to and to develop the national framework for guaranteed livable basic income.

Have you ever heard of deemed disposition? Deemed disposition essentially stands for a tax event that occurs when an individual dies or permanently leaves Canada. That's a little bit counterintuitive. There's an exit.

You have to pay to exit Canada on what you've built.

That's like if you went to a company and you feel like you are no longer a fit together and you want to leave and they're going to penalize you for leaving.

The second step is abolish inheritance and immigration and redistributing inherited wealth for the benefit of the general population. And this is the definition of fair.

And you can see this on the new budget is to make it fair for everyone. And the target that they went after was capital gains tax.

So you'll be taxed for the culmination of your hard work. How does capital gains come? It comes from the sweat equity and the time and and the effort and the years of what you've put into to build the hard work to get the value to where it is. And as simple as a stroke of a pen, there has been an increase. And if you were to think is there an end to it? I'll let you decide for that.

Now in Canada, just to give you a bit of history and background around it, deemed disposition taxes were introduced in 1971.

So it's not just the current time that things are newly where they are. They've always been here. It's just a matter of the intensity. And deemed disposition taxes for leaving Canada was established in 1996.

Now resigning from the company that you work for, which is the country Canada. And in order for you to resign you have to pay them to leave. Help me make sense of that.

Now. The other things I just wanted to highlight in the most recent time Corporate taxes on family split income. 2017 corporate estate planning using a technique called the pipeline. 2023 corporate surplus stripping 2023 income tax now primarily favoring salary over dividend. 2024 alternative minimum taxes in case you didn' there's two tax systems and how you pay taxes. If you on one of the normal side are able to bring your income down to zero, they have another one to make sure you have a minimum tax that you pay. So there's a separate stream to collect taxes. In 2019 the corporate passive income tax rules were introduced.

Corporate capital gains inclusion added at 67% in 2024. And more and more and more it's coming out like the way that money is being printed.

The other principle is abolish exclusive ownership and control of private property.

Faster. And we're also working hard to be sure.

Thank you very much.

That homes are not a financial asset.

Thank you very much.

No, thank you very much for making clear that the doesn't actually care about whether homes are for Canadians to live in. Does the Conservative Party not care if there are vacant.

We're actually advocating for some common sense and it doesn't sound like a very.

Good deal for tax not caring for people to be.

Let's move on, shall we? Let's move on. I.

Will Deputy Prime Minister Minister Finance Mr.

Speaker, I am really glad to hear the Conservatives talk about housing because last week we made a very important Announcement on housing. Last week we announced that amortizations for first time home buyers and everyone buying new builds will be extended to 30 years. That is going to make help young Canadians make the dream of home ownership a reality. And it will get more homes built faster. And I am shocked that the conservatives are opposed to this essential measure.

So that's the political drama that goes on and I'm sure, you know, nothing really happens out of that. You have no influence over that. So I want to use this new introduction that has just been announced and let's just work out how this actually works and plays out in practice. And for those of you who just want to understand a little bit of the mechanics of an amortized loan, who knew that the new generations are going to have a new landlord and home ownership? So what I did was use what they've done in terms of what the down payment is. Now you can go up to 1.5 million in terms of a loan. And here's the current interest rate on that kind of a loan. And so the principal that you borrow is 1.4. The interest you would pay is 1.2, and the semi monthly payment is 3,006, 27 or 7,200.

Anybody, anybody know how these loans work? Anybody have an idea of how long or how the debt's going to be paid for the person who buys this home and the level of interest that is going to accumulate through that amortization period? And by the way, after each term period, the bank reserves the right to give you new.

New loans at a new interest rate that you don't get to have any say on to. So in substance.

Sure they've got you in a home, but they've got you trapped.

That's the new home ownership.

Who really owns the home if you put 5% down and 1.4 is a loan from the bank, who put most money into buying the home.

So culturally too there's been changes.

How is that?

It's backwards.

And here's one of the primary things that's in the manifesto and that's why we're here tonight to talk. And it's disrupting the nuclear family union.

All of this is happening under your nose.

It's more, it's more important than ever now that families come together because together we stand a better chance.

So I want you to listen carefully to what they say and then really.

Underneath the actions and what they do.

Because if you read the manifesto, the actions are very clearly aligned to the steps and plans that are in place.

So class warfare is their ether ethos. I'm sure you hear that quite a bit.

Taxation is their tool to equalize what's fair.

Their goal is to remove individuality for centralized democratic control and planning. So it's not based on the efforts and what your hard work and your earn. If you ever wondered why there's a conflict or difference, you can really see that if that's the values you believe in, you're going to see the difference in values as it relates to what you're seeing now.

So the elixir to this manifesto is education and awareness.

And here's just some of the books that I'm going to recommend. Again, that's what we're talking about. Becoming your own banker, building your warehouse of wealth and keep taxes away from your wealth. Becoming your own banker, building your warehouse of wealth, keeping taxes away from your wealth.

Because these concepts described in this book will truly change your life now and into the future.

Because all of your money flows through someone else's bank right now.

And they most certainly wouldn't want to ruin their control on society with their position that they have.

So make sure if you are a new client, are new to getting into learning about this concept tonight, schedule a call with us because we can help you accelerate the learning and education process so that you can be properly aligned with the values that you believe in as it relates to the hard work. If you want to build your generational legacy, if you want to be merited for the efforts that you're putting in, what you will learn from the education will point you and provide you the information that you need to help you accelerate this process.

So here's a. Here's something I really wanted to introduce to all of you tonight. And it's an alternative to building your family trust fund. And it's a simpler, efficient and effective method without the investment in paying for professional fees of lawyers and tax specialists. And I want to share that experience with you because unfortunately there's quite a bit of information that confuses people and I want to be able to lend the experience to share that with you. That it doesn't have to be as hard as it needs to be.

So what is a trust? The key things I just want to take away. I want you to take away in terms of this definition is a trust is a relationship where one person, the settler, transfers ownership of the assets to another entity, another person, the trustee, to manage and distribute these assets for the benefit of a third party. I'm sure the third party is not the. Not Caesar and his bandits but it's more for you and your family. So the components you need are these three components.

Now, just to give you a little bit of a background, because what usually gets shared is, oh, this is what you need to do. But you don't actually understand the components related to doing it. So this is where the legal component is, where the trust comes in. So there's legal. You're kind of protecting yourself using legal maneuvers, which is very powerful. Right. And a lot of the individuals who amass and build up their wealth, they start involving legal maneuvers like a corporate reorganization. You'll see in here, the investment to it is kind of like the dollar signs next to it. And then there's maintenance, which is another dollar sign. So it's just kind of like, you know, you go to a restaurant, you want to know how much. How much the budget is related to it. So this is kind of just to give you an idea.

There's kind of tiers to it. So at a certain stage, as you've accumulated a significant amount of assets and wealth, then you start looking into transitioning it or transferring it to the next generation. Now, again, there's taxes. Believe it or not, if you wanted to give something that you have built up and accumulated from you to your child or to your grandchild, there is a taxable event that will happen on a majority of the property or assets that you accumulate. So you want to involve some type of legal maneuvers. And this makes sense if you have more complex assets and properties.

And trust is kind of like the component that puts it all together and allows synergy and harmony for all of it to happen. Now, there's laws that are in Canada that are different than the laws that are in us. Everyone in the. If you are.

If most of the media you've consumed is related to us, you might be, oh, I need to set up a trust. I need to do an llc. I need to do all this wonderful crazy jazz. Well, just recognize that the operating laws and how it works in Canada and US are very, very different. And one of the key components and the difference in a trust in Canada has a finite period, which is a 21 year. So there's a very particular difference in the way things will be structured and organized if the accomplishment of goals is for specific reasons. So the most common challenges for those looking for generational wealth and protecting it is getting incomplete ideas about what it is. The challenge is, of course, the difference in the operating rules in the jurisdiction in the country that it's being worked in. So the starting conversation I really want to just set out there for you to have in your mind. It's not something you want to quote me on or hold it because we're just learning for entertainment purposes tonight. But the main thing is start looking at the component when you are roughly at about greater than $1 million in revenue because it doesn't make sense to make the investment and the maintenance if you don't have the required capital that your asset like your business is generating or creating for you. So it's still good to think about it. But when you get to the stage is what I want to have as the teaching point. So you're. So there's an even higher level just to share with you. I'm sure you've heard about this in the media quite a lot which is there's an efficient way to distribute and do givings and do it through things in another structure called a foundation. Of course there's quite a bit of extra education price tag for the investment on the professionals to set it up and the price tag to maintain maintain it. There's quite a lot of things involved related to that. So not saying that it's not something you can't think about and do. It's just if we're looking at fully privatizing it into your level of control. This is what I'm talking about. There's other solutions that exist in the marketplace but I'm just trying to make sure that that picture is clear as you are going through your wealth building journey. So there's a very big overlooked component that provides the same legal benefits because it is a legally binding document that you don't have to go through all of that yet.

And that solution, believe it or not, has existed in Canada since the 1800s and is a properly designed par whole life insurance policy dividend paying one ends. It has similar attributes to a legal trust.

So a policy owner owns and controls this policy asset and I'm using the word asset very specifically because when designed properly, especially in the way that we design it and the proper way of accounting for it, it actually shows up on the balance sheet and it's not an expense and money is being lost, it's actually an asset on the balance sheet. It's not a liability, it's not an expense, it's an asset.

Now with this, at the performance of the contract, which is the beneficiary the life insured's death, a person or entity who benefits, which is the death benefit from the life insurance death. So again, very same thing, very similar thing. Sorry.

A policy owner, because they own and control it, can uniquely collateralize the cash value that the insurance company is responsible for building as a reflection to achieve the contractual guarantee to match the death benefit by age 100. And they're responsible for building that.

And if there's an outstanding loan.

Being using the cash value as the collateral, the lien is on the death benefit, meaning if there's an outstanding loan from the utilization of the collateral of the cash value and you've tapped into the funds of the insurance company as a policy loan, if there's an outstanding policy loan, the death benefit will help settle that policy loan that's outstanding.

So this is the part where without the need for specialized tax lawyers and other professionals.

And even if you want the same benefits, nothing prevents you from building generational wealth and family unity. I want to say that again.

Nothing prevents you from building generational wealth and family unity. It's all in your mind.

Now, if you already have a family trust or if you are in a place where you have significant assets with complexity.

A properly designed dividend paying whole life insurance policy will magnify the benefits to building generational wealth and unity.

So we're going to talk about a trust fund. What is a trust fund? Well, hello tax free death benefit.

We're going to talk about the trust, which is a fiduciary relationship in which one party known as the truster, gives another party, the trustee, the right to hold title to property and or assets for the benefit of a third party.

This is really where the excitement of becoming your own banker is going to come in. Now, for our clients, you'll get what I mean by that. And if you haven't read the book, then definitely that's what you want to do. Now if it doesn't land, then definitely you want to get a copy of the book.

So let's start with creating your tax free alternative to a trust fund for generational wealth.

Now, you decide what does money mean to you? You decide what do you want from your money?

So to give you a little bit of a basis on how this trust fund that's set in escrow for you, once you enter into the relationship, it's created based on three major things. A multiplier on the money that you bring in. So if you are 50 years old and you earn $100,000, then it's a multiplier of roughly 15 times. Depends on just giving you rough interpretations here. Okay. The second component that gets included is the amount of credit outstanding that you owe. So if you owe a $1,000,000 mortgage as an example. So you have your $1,500,000. You have the one. So that's 2.5. And then it's also including the amount you owe to the cra. Maybe right now you don't owe a lot, but I'm sure as you are accumulating and building wealth on your journey, that's a component that gets included into that too. So isn't that powerful? You can set up a trust fund. A trust fund where this amount of money will be contractually available to your beneficiaries. If you haven't paid it off by that time.

That means you don't have to work for it as much.

I mean, I really want you to. However, we're talking about mitigating the risks.

So very few tax exempt assets exist today. If you've actually been following, and if you're a real estate investor as an example, that has been a huge bullseye from Caesar and his bandits.

So very few tax exempt assets actually exist. And this particular asset, believe it or not, is uniquely available to North Americans, especially the way in how we create it. So I just want to appreciate the power of what this asset can do and it's really up to the person and the persons involved in using it.

So I want to talk to you about this case study here. Now, this is Benjamin and Melissa Thompson. And the first thing I just want to highlight is this case study specific to the Thompson family. And the financial strategies that I'm using or talking or sharing with you tonight are applied and they were drastically simplified loosely on their circumstances. Circumstances. And it's in most cases not the same as yours, going to be different. So they have different challenges. So what I'm going to talk about really is for entertainment purposes and educational purposes only. And no advice is given and the results can vary. And just make sure you speak to an appropriate financial professional as it relates to your specific reasons. Okay. The. Let's just call it. They have made things a lot more complicated. And I can't, I can't answer everything for everyone. So Benjamin and Melissa Thompson are 50 and 49. They're. Benjamin's a medical professional and Melissa is a nurse practitioner. Together they earn $1.2 million. They have two adult children, Leo and Emma, 29 and 28. They have a granddaughter, Chloe, which is one who is 1 years old. And they spent decades building a substantial estate valued at over 10 million. So the point I'm trying to make here is it doesn't matter what position you are in. The bandits have their role in every place. It's just everyone has different.

Implications with those bandits.

So the proposal that we went through is let's put in premiums. And to keep things really simple, you're putting in premiums of $100,000. And the insurance company takes the risk in this case for 2 million.

So to start this, it's really straightforward. Benjamin just needed to put a deposit. His first premiums. The next is voila, a trust fund is created. Wait, it's that simple? It actually is that simple. Your trust fund is created and it's locked in immediately where it's binding, legally binding immediately with the transfer of that deposit. As soon as you funded the premium, the insurance company has already set aside the amount of risk that they're willing to take on your life.

And that life, when you pass away, is going to get paid to your beneficiaries tax free.

Now the Thompson's want more though, so to grow it, they just keep transferring money into premium. And here's the outcome until age 100. So here's the, the tax free family trust fund, the annual contributions in terms of this fund that they're building, they're putting, he's putting at a pace of a hundred thousand dollars and if it goes to the end of the contract, it's 5 million. That's how much he would put into it. The numbers are his numbers. Now in return for that. You can see the green is how much the trust fund is increasing related to that. And by age 100, the performance of that outcome is 18.5 million.

Irrespective of what the values and the numbers are, what's important is I'm sure you can recognize that the amount that has gone in is significantly less than what's waiting at the end of the golden rainbow for his family.

So your trust fund grows and continues to grow tax free with the more deposits you transfer. So if you know that the amount is going to increase and the more that you put in and it's going to increase more than what you put in.

And by law, the insurance company must fulfill their contractual requirement to your beneficiaries to deliver that money.

And there you have a second generational transfer to Leo. Oh, sorry, Leo and Emma.

And it's tax free.

And it's just that simple. Now.

Just imagine how powerful that value is for up to 5 million going in and the 18.5 million going to the second generation.

So for the 18.5 million, Benjamin's paying essentially $0.27 for every dollar.

And in this case there's no out of pocket fees for a lawyer, accountant or other sophisticated financial professionals.

Now for those again, with more complex assets, I recommend more skilled professionals because they're going to need to help you minimize the risks as it relates to those assets and the bandits in what they're trying to go after. And it all attracts A real estate asset is different than a business asset. It's different than stocks. It's different than how you put the stocks. Where you put the stocks in, how you deal with these.

Is related to having the right professionals to handle that type of complexity. Unfortunately, that's just how it works.

The policy is just a seed.

Not every whole life insurance policy is the same.

Nor could they be designed the same.

There still needs to be components involved. Nutritious soil, clean water, sunshine and temperature, the nurturer from the planter, and many more things. If the policy owner doesn't take care of their wealth.

And take care of their seed, the plant's going to die.

So you could store your wealth in your mattress. That's an available tool or vehicle.

It's just we found that a properly designed dividend paying whole life insurance policy carries powerful characteristics.

And that will enable you, with the right coaching, to achieve your goals and objectives more effectively.

So when it's designed properly, again, I'm just going to reemphasize it's an asset on the balance sheet on the financial statements. So when designed properly, it's an asset on the balance sheet instead of an expense, not an expense on the income statement.

Now unfortunately for most financial professionals.

They lack the knowledge and training in the specialized asset. Again, I'm sure when you were looking if your primary assets of building wealth was real estate, you wanted to find a specialized accountant who filed your taxes who understood real estate. This is a dimension of knowledge that it's still unfortunately sorely locked in terms of the knowledge and training. And so if you ask them their opinion, they may give you an inappropriate opinion to it. So it's sorely misunderstood.

As an asset on the balance sheet. It means you can use it as collateral to borrow against. No different than when you collateralize a real estate asset to help you fund your next projects. I think the benefit though is there's a lien against the death benefit, which is your generations, your future generations, tax free wealth transfer.

So as a team of the best authorized infinite banking practitioners, and I get the pleasure of them supporting me tonight and me getting the privilege to share on this platform.

We understand how to collaborate with you and other professionals to fulfill your goals and objectives while you're alive. This isn't just about when you graduate, it's also when you are alive.

So you can build generational wealth and have that transfer.

And this is what we believe. Financial control should be in your hands. Not the banks.

Not the government, not some financial entertainer who thinks they can do better with it. So if you remember the psychology we talked about, we believe you should be responsible for your own success as it relates to your efforts, your merit and what you build. We're just going to coach and guide you to get there to maximize it faster.

We also just so happen to have the skills as a team in making sure you know how to use this unique and powerful asset. Okay, if I give you a reciprocating saw or if I give you a snowblower, it's not going to mow the lawn itself. It's not going to cut the wood for you. You also, depending on the sophistication of the tool, need to know be trained on how to use it. You have to know how to use it. Even then, if you don't have the technique to know how to mow the lawn in a very particular way, the way that you mow the lawn is going to look like garbage. So you want to make sure you align yourself with people who actually do this every day, who actually know how to use this every day, who actually uses it in their life.

So here's what Benjamin wanted to achieve. He wanted to pay off his debt before 60. He wanted to acquire cash producing assets, at least enough to supplement when he dials off of active income at 60.

He wants to build a generational legacy for his next three generations. So let's start diving in his journey. Now, just to give you a little bit of caveat, we have been in reality just working together just over two years.

Here's the important component. Here's the soil.

This is the soil.

He's committed to transferring the money that he has that is residing at a commercial bank.

To putting it into his family trust fund.

Here's the soil. That trust fund starts at 2 million and it grows to 4 million by the age of 60. So 10 years, that's the trust fund. Again, it's put away in escrow.

Here's what we're going to use the first harvest for.

Recapture the maximum amount of credit into his family system. Now he had a mortgage and the mortgage prevents him from overpaying because otherwise he'll face penalties. So we have to maximize what we can do in this situation. So that's what we did.

Now here's the roadmap on what that plan looks like.

Again, here's that soil. Let's layer on top his mortgage and the pathway, if he follows this process to go through attacking his mortgage.

So get that.

In 10 years instead of 30 years. How about that? So the next thing is since he's still in his active income phase.

He has a surplus of capital from his harvest because he couldn't use up his harvest to help him with his debt. So he's going to put his harvest to other productive uses. And what is he going to do? He's going to tap into a system he's creating right now to purchase cash flow generating assets. Now it's going to take some time for it to build up but and his goal is to do it until he's 60. So he's going to build the potential to get to 60.

And here's a roadmap on what that plan looks like.

Now the blues that you see, fair market value is just an estimate of the value of the asset class that he's putting his money into that's generating the cash flow and, and then the taxable asset is the cost that he's paying for.

So the problem is he's built, he built more wealth in these type of taxable assets. He will end up being taxed more because they're not tax exempt. There's very few of them. That's just the reality that we have to face.

Now. He thinks he'll live until age 90. I, you know, love to challenge and debate him. Statistics Canada is about 83, which is in 2023. This is for males. So let's just use that as the situation.

Now here's what his estimated tax liability would be if he lived until 90 or if he lived until the end of the performance of the contract.

If he's acquiring and building more cash flowing assets, it's going to attract more taxes from the cra. So here's what that pathway is going to look like. Where the taxes owed to the CRA is, let's say here. And as it, you know, naturally what happens with taxes, it doesn't go down, it usually goes in a very particular direction. Also the value of his assets are going to go up too. If he does a good job in choosing and picking and using the right assets, naturally it's going to go up. So let's account for that, let's put that on the board.

So if you passed away at any time though.

The tax bill is going to need to be paid there's no way out of it. Deemed disposition tax is unavoidable. Your options with taxes generally are to trigger it strategically. If you put it in a certain wrapping, you can defer it, pay it later. And by the way, money going into an RRSP is not paying less taxes. It's just deferring it and pushing it into the future. You can distribute it, meaning sharing it or transfer it. Oh, what is that? That is new.

This is why he chose to work with proven skilled professionals.

So he has a growing tax liability and we're actually going to solve that in the next, next case study. But you know, his harvest is exposed to geoengineered climate change and it needs to take their bite and harm his soil and harvest. This is the reality that he lives in.

So if we overlay that on top of his soil.

Again, this is his soil.

Let's map out.

His implications to taxes.

And if you can see the numbers that's waiting to help his family is far in excess compared to his projected obligation. Now the projected obligations for taxes go a lot higher than 18.5 million. We have a big problem. Okay.

So let's overlay all of his desires and goals together for when he gets to 64. So we start with the soil, we start adding in the assets that he's acquired, we start adding in the debts that he's paying.

Right now when he uses the cash flow earned from his newly acquired assets, he's using it to restore his family trust fund so that less of it is being taken away from his generations that he was wanting to leave it behind for. So whatever cash flow he's earning, he's attaching that to restoring the cash flowing. Sorry, his family trust fund that he's building.

When he gets to 60, things change. He wants to decrease his active income.

So he will use his cash flow producing assets. And instead of using it to pay his.

Trust fund and have it go down in terms of doing it, his goal is to restore it. By the way, he's going to use it to help continue the contributions into his family trust fund. He's just redirecting it.

So when he reaches 65 with a fully restored family trust fund paid by his cash flow flowing assets, he's going to redirect it, he's going to switch it up.

Now from that standpoint in the solutions that are available today, he can use his trust fund to draw 175,000 tax free cash flows which is the equivalent. And I'm just sharing with you that calculation to get close to that number of 285,000 of taxable income. And by the way, this has no impact to his government entitlements. Again, a lot of caveats to say, it has to be placed properly, done properly, a whole bunch of other things, factors and what happens in 15 year time. However, the most important thing is if his situation is as it is right now, this is what is available to him.

So here's what his outcome will look like from 65 until his death. 90. So he's again tapping into these.

Building the soil until he's 60 and then from 65.

That 175,000 has no impact to his government's benefits.

And here is where he's drawing for his tax free cash flows for living.

And the difference that he's drawn from.

Which he hasn't been repaying because that's what his goals were, to draw from his tax cash flows sitting in his trust fund or his system. He will leave behind about $3.1 million as a net legacy transfer.

So what's left after the legacy transfer?

Well, if Casey forgot there was that tax bill of 2.5 at his age.

So after all of that, despite how powerful the concept is, and again I fitted the situation specifically for ease of digestibility of $100,000 on his situation and maybe it may not relate to you. The concept and the component is going to be the same, but different in the context of how much you're putting in. It's still relatively a very similar situation you can relate to. But that 3.1.

Caesar and his bandits need to get paid. So what's left is $600,000.

So is there risks to this plan? Absolutely.

However, the most important thing is, especially.

In what's coming up in his life is.

We'Re talking about again securing your wealth, focused on and, and then focus on building it instead of gambling what you have built and not having it secure. So at least from this vantage point, he's removed the financial market volatility. Imagine getting to 65 and then you deal with another lockdown and the stock market plummets or the financial markets plummet another 20 or 30%.

That's by the way another good way that your wealth has been taken from you. Changes in income tax policy rules.

Changes in interest rate lockdown measures, all of that has just happened in the most recent four years.

Can you tell me that's not going to happen again in 15 years?

Economic uncertainty.

Rise in bankruptcy.

All of these economic factors he has no control over. Decrease in consumer spending.

We're talking about taking risk off the table, securing your wealth so you have something you can sleep. You can sleep at night.

And the important component I want to highlight is.

You need to have this too. You want to have this too. Benjamin has the desire to secure his financial wealth for his next generations.

And on page 65 desire. Without it you probably can't do it.

So I want to encourage you to if again this is a new concept for you that you haven't gotten the prerequisites yet, go visit watchibc.com on our YouTube channel. Type that in very easy watchibc.com and you will get a very free an hour and a half 90 minute training just giving you the background about this concept. But nothing in my opinion will replace reading the original book Becoming youg Own Banker from the man himself R. Nelson Nash that we all have the gratitude to thank for introducing this concept to us.

And here's just an example of meetings why coaching? So it's not just the insurance policy and it's not just the product and saying oh this life insurance thing, it's so cool. I could give Benjamin the life insurance policy but what he used to accomplish with it is very very different. I just want to share with you just an example of our interaction. It's been a while. Hope you had a nice summer. I've been meaning to touch base for a while but it's been such an up and down year and hard to formulate much of a plan as everything is cash flow driven at this early stage of the policies. I don't want this email to get too long winded so and the black part is the details and everything that he was discussing which obviously I had to black out but so I will wrap it up and we can do a well overdue coaching session. Send me the link to your calendar. Look forward to seeing you soon. This is, this is the, the joy that I get to work with someone who wants to be, who wants to work with me, who wants the. Who has the desire to build their wealth. Whether you are in the position of where you are now, whether you are the position of where you aspire to, maybe it's at the level of Benjamin or whether you have aspirations even higher. The characteristics, the mentality, the psychology, the process doesn't change. It's the exact same thing.

So the more you put in, the greater the financial legacy you can create for this.

Everyone wants a piece of your wealth and legacy. When you bring in money, the first thing that happens, if it's a T4, it gets already withheld for taxes and pensions and increased pensions, whatever you want to name it. And then you have automated bills, you have credit cards. Everyone else is getting your money first, getting the benefit from the money that you are sending them without you actually getting anything left of it.

So I'm just trying to share with you that it's okay for you to focus on building your wealth. Stop feeling the guilt from the indoctrination that other people have trying to portray and project onto you.

And this is important. At what lengths are you going to go to protect your wealth?

Because.

The bandits will always want your money.

You can't control the policies that they write in Parliament Hill, nor can you influence it.

You can control what you do though.

You can align yourself with skilled professionals to help mitigate your risks and protect your wealth.

For taxes.

There'S probably conversations people talking about, oh, you know, this amazing tax loophole. I would not touch those people with a 10ft pole, 100ft pole, thousand yard pole. You just need to do things properly and use the right sections.

They're like hungry wolves.

They're spending more than they're taking from you in taxes. And I'm just showing you their financial, public financial statements. In 2022-2023, a net loss of 9.6 billions last year was 10.2.

So if you want to talk about threats while they're losing money each year.

That means their debts are growing each year. If you have no money and you lost money, where is the money coming from? From debts from someone else.

And debts represent a need for future money to pay for it because they clearly don't have the money now.

And they're going to find more ways to confiscate it from you. There's already the air tax. Next is probably the water tax. I mean in Toronto there's already threats for the rain tax. I mean, just look at this summer.

Somehow there was a very rainy summer.

And it just positioned so well with the opportunity to have a rain tax.

So where is their money going to come from?

By taking it from your next generations, that's where future money is coming from.

They're going to enslave your future generations with the spending and taxes and debts that they have and that they're going through.

They're like blood sucking vampires.

So if you can't protect it, someone who wants it more than you is going to find ways to take it from you.

So at his current plan, Benjamin had just enough profits to settle the burden from his undeclared profits.

He is just as obsessively focused on ensuring his next two generations are not saddled by any of his financial challenges or someone else.

How does he make sure there's more?

By diversifying into other assets, of course.

Now just by looking at the traditional ones. And it's not just by looking at those traditional ones. Remember, a lot of them are tax attracting.

That you always hear about. Here's the next new greatest thing. Are you an academic or are you a gambler? Those will appeal to you. I'm talking to you specifically on being sensible in building three generations ahead and keeping it.

And it shouldn't start by looking on the outside.

It starts for looking from within. And for Benjamin, it's his own family members. Where else would you go rather than within?

And.

When I talked about disrupting the nuclear family in North America today, everyone's focused on when can I kick out my children? As early as possible. Culturally, I grew up very different and we all talked about how can we help you buy your next home? How can we help you do this? How can we help you buy your next car? Just to be transparent, my parents could not help me buy my own home. But I just wanted to share with you the cultural integration of our family values was how can we help each other? And it didn't matter what we went through, what my parents went through, we came together to help each other. And this is more of an important time now to do that instead of kicking your children out. Oh yeah, they're not going to grow up because they're so dependent on you. Well.

The economy certainly has designed it that way right now. And this is why it's so important to come to bed together. So what better way to create more family generational wealth by starting with building more tax free family trust funds. No high price, no high professional fee lawyers, no high professional fee tax specialists, no high professional fees for anyone. I just want to share with you that it can be started just as easy as the content that you've learned today and getting started with setting your mind in the right place.

So by maximizing the Thompson's family's potential.

His focus was diversifying in lives insured.

What better asset than your own family member?

So I have a serious question for you.

If you know you can create as many tax free trust funds as you can for your family, just type in the chat, how many would you build? If you can create as many tax free trust funds as you can for your family, how many would you build? How many would you create?

Awesome. I already see chats sharing with as much as possible, 15, as many as I can find the money for as many as I am possible. As many as possible. This is awesome.

Now.

Because I've already shared with you.

This is going to grow.

It'S just going to happen.

And it's legally binding to be delivered tax free to your beneficiaries for a lot less than what you've put in.

So I want you to take away that the infinite banking concept is an exercise in imagination, reason, logic and prophecy.

If you don't have the ability to expand your mind, imagination can't come in. If you're close minded, you're welcome to enjoy the regular scheduled programming from TV.

Because why are you letting someone else limit you on your capability and potential?

So when the trust fund is set up properly, they're all the same. So I saw concerns about. I wish this was more relatable to me. It doesn't matter. This is the money in.

This will be the money out.

It's just that simple.

There's no 14% rate of return that you you think is going to happen or 12% as Dave Ramsey loves to share some average 12% that never actually really existed. If you researched and looked at the index funds performance, it was never a 12% average return. Guess who's paying him?

So why not create more?

And when you have more.

Then you can create more.

When it comes to building generational wealth and your family's trust funds, you've been guilted enough from someone else's indoctrinations and projections.

You've been told you're too old.

That's just another subtle way by design that wealth is being taken from you.

So if you're guilted, you're afraid you're going to feel bad for building and taking care of your family first.

So that means giving it away to someone else who apparently needs it more than you. Why are you compromising? The people who care about you rely on you most.

And I really want to separate this because as a real human being, you're designed to give love and not spread poison and hate.

So what ways are you doing to secure your wealth from threats of the mind?

And here's just again the antidote to the problem. It's education and awareness. Start with reading these books.

The education and learning never stops. You haven't graduated from the system and gotten your diploma and degree. And then it ends there.

Because don't worry, as your coaches, we'll tell you the truth and help guide you to put on the brakes if necessary. So I want you to inspire, be inspired tonight to look at ways how you can magnify your generational wealth. Clients. I appreciate that you joining in tonight, that is something that you really look into and explore with your coach. If you're new to the session tonight, you have nothing to lose and everything to gain by having a phone call with us. And that could be the best determinant for you to see. Whether you move forward, whether you learn more education, it doesn't matter. But at least you don't swim in the sea of no man's land.

So once you can put the gas pedal or sorry, the brakes at least when the time comes, we'll have another great discussion. Just as I shared with you from Benjamin, you can press the gas pedal again to go forward to your destination.

In the legacy building world. You are not too late to start.

That's a constraint someone's been putting on your mind and we know the kind of profession of a constraint has created. So look into this yourself, speak to us and we'll help you. We'll dive into your unique situation to see.

As I just want to remind you, the tax bill that Benjamin is going to have is unavoidable.

The difference is just how you pay for it. Here's what's going to blow your mind. You could be like everyone else, pay for it by accumulating the money, by working for it, bit by bit, hour by hour, project by project, and get taxed along the way as you do it. Miss your child's.

Sports game, dance recital, music recital because you had to show up to work.

You could take the assets you have or that you leave behind, fall into deemed disposition and sell it to pay it.

The best is take the premiums at the price that the insurance company is willing to pay and shift that risk to the insurance company. Because by default, the definition of insurance is someone else is willing to take on the risk on your behalf for a acceptable price. That's the price they're willing to pay.

The insurance company takes the risk off of you. How amazing is that?

And it goes completely tax free, away from influences out of your control.

You always need more money in your life.

Whether it's the bandits changing the rules on you to take more from you.

Or even because you just plainly need it.

There's always a need for money.

The difference is how you prepare to pay for it. Today's preparation is tomorrow's success.

Benjamin had a confiscation coming up for 2.5 million. That's how important it is. Our conversations and our meetings and Our relationship is because if you had a $2.5 million bill coming up, are you not sure you want to know about that.

Now again, he could speculate and gamble. I'm going to go find jump on the next greatest trend financial fad and try to make some more money. And eventually I'll make it so that in the time that I need to pay, I'll have enough.

Or he can again work his way by seeing patience to get there.

Or he could be like those bandits and let the future generations deal with it.

That would just be like everyone else to pay the cost of it using full dollars.

Instead he chose.

To be prepared and be smarter using pennies to pay for him.

So this helps his family set up to pay using 763,000 instead of 2.5 to settle the same 2.5 and then some.

Isn't that awesome?

How would you like to pay 2.5? Pay a $2.5 million bill with 763,000 instead. If this didn't resonate with you, then we have a different conversation. We need to have to pay for 2.5. You only have to use 763,000 and the benefit you have is how you pay for it and the time you pay for it.

And there's a lot left over.

So this involves truly embracing becoming your own banker.

You can avoid paying their taxes.

You can change and control how you pay for it though.

So accumulate and save $1 for $1, pay taxes on the asset when you sell it and then use those proceeds to pay for the taxes that you owe. So tax on tax.

Or transfer the discounted dollars as premiums to use the tax free trust fund to pay for it.

The answer is pretty straightforward in my opinion.

So let's look at the strategic roadmap. Here's your current wealth strategy. It's built in partnership with the government and the bank.

That's your wealth. It's built on the platform of the commercial bank. And then the government takes their piece of it in taxes.

The commercial bank takes their pieces in interest management fees and fees upon fees upon fees.

Here's what's already happening. Let's just recap. There was the commercial bank and there was your wealth.

That's where the government was.

And then someone just got a lot bigger.

They become hungrier.

And.

Notice how.

Those taxes got much more and your wealth started to start shrinking.

This is where you want to be.

Especially if your desires are to build.

Your legacy.

There's where they are.

There'S your wealth over there. Let's create.

The space for your wealth. Your newfound wealth still needs to involve the commercial bank because they've involved the Canadian Banking act and the government has wrapped everyone to pay the taxes. There's no a way, there's no ways to avoid it unless you decide to go to prison. So some, some of your wealth will be involved in it. That's okay.

Once you've created your wealth, it doesn't matter how much it is. What's important is you start and you have the mentality to start. Financially, you may be in a different position, but mentally you want to be in that position. So this is the commercial bank.

This is the government, that's the taxes, that's your wealth. And this is the size of the generational wealth. We're trying to expand it even bigger.

And that only happens with a commitment to do it over time.

And coaching makes the difference.

The mo. The lawn is not going to mow itself. Henry, you've been instrumental in my financial literacy journey, helping to bridge the gap for understanding what is helpful and what is hurtful in the process of acquiring wealth. I look forward to continue to work with you.

So in case you haven't had the chance, I want to encourage you to schedule. If you're new to this webinar, I want to encourage you to schedule a time with a coach on our team so that they can help make the process of learning efficient and more effective with you.

And just be a good use of your time.

Now, I'm just going to take a little bit of a level set first here and ask just maybe a question out of a rating out of 10 as of so far in terms of what I've shared with you, if you've gotten a lot of value in terms of what I've shared, just type 10 in the chat. If you think you would have done better with your time, type 1 or feel free to log off. It's okay, I can take it. It's all right. So type 10 if you've gotten a lot of value in the information that I've shared so far and or one if you wish you did something better with your time.

Okay, awesome. See quite a lot of very helpful information and numbers there. So thank you. All right, Kevin, I see a seven there. We're going to make this a ten tonight for you.

So I want to introduce to you the generational waterfall.

We're going to talk about the Thompsons, everyone you hear about and maybe catch wind about, oh, this becoming be your own banker thing or becoming your own banker thing. And it's this whole life insurance thing and thing and it's this, this thing that doesn't make any sense to me thing. So what I want to talk about is the principles and what I've shared with you is related to the actions you take with good guidance to help you get to where you want to get to. Benjamin and Melissa is part of the equation in all of this. But you will be able to relate to what they're going through. Everyone has a grandchild if they have to. I mean, you know, someone who's gone through it has a grandchild. That doesn't preclude anyone from implementing this concept. The part I want to highlight now is everyone just talks about the policy and the product and the tool. Again, the lawn is not going to mow itself. The main part now I'm going to show you is the impact of. It looks so simple. It just will blow your mind with the fact that you will be able to transfer and build that generational wealth without the need of the implications of what happens on the outside. And this involves for you to be confident and willing enough to be doing things that are best for you instead of following what the masses do.

So.

Let'S really talk on this point. Abolish inheritance and immigration.

That's the manifesto. Here's the policy.

They're in the direction to make the Canadian tax system more fair.

And as a separate sidebar, just for the sake of making sure you can understand, it may not be something that is required for you to do, but for the Thompsons, this was very much a reality. And here's an example why, if they were not set up properly in the tax code, which they weren't in the time before we met, how much their corporate asset wealth would be taken from them? Again, they had multiple assets available to them, but this one particularly would lose a significant amount of value if it was not set up in the right sections of the tax code.

And I don't blame them. Benjamin's a busy person, Melissa's a busy person.

So the corporate asset transfer problem, this is the inheritance tax.

And this is the in the impact and the outcome from succession planning with skilled financial and legal tax professionals. So here's what layers of additional taxes come out from this Inheritance deemed disposition, share tax.

Getting money out of a corporation tax. So this is what it was before the intervention. The government was going to take 74% of the value of the company.

Could you believe that? They took so much time to build their assets, work so hard.

Work the long hours, build everything up again, no different than you, just in a different part of their financial journey. And the government in this specific way that if they did not get the right intervention, 74% would go to them. How backwards is that?

So 26% of the company's value would go to the Thompsons.

After intervention.

We shifted the value going to the government.

With a prepared value of 34%.

And the Thompson getting 66%.

This is the importance of getting the right involvement and not winging it and also making sure at the right time.

So let's talk about the generational transfer tax problem. So these are assets held corporately. There's a corporate medical office, 3.5 million investment portfolio, 1.2 million. The future tax bill just on these items with an unrealized gain right now waiting for them. And then the government getting their fair share so that they can redistribute it to someone else is 1.05 million. And I just want to share with you before the policy change which is the from capital gains going from 50% to 67%. The initial estimate was 80% and with a stroke of a pen at midnight from Parliament Hill, the amount ballooned to 200. An extra $200,000. 25% more.

So as they look towards the daunting future, they face several daunting challenges for their multi generational plan.

Benjamin and Melissa wanted to use their wealth to support their granddaughter for things like funding her private school. Maybe it's not private school for you. Buying her first car. Other future hobbies and endeavors. Right now, the solutions that most people default into the mass fall default into is a wonderful tool, sarcastically the Registered Education Savings Plan, which it will not be able to and it restricts you to actually be able to use it for any of these three things. Didn't you put money to build a bigger and better future for your child or your granddaughter? And you have restrictions on how you need to use it. How does that make any sense? Because they want to keep your money safe. Because they don't think you will be able to take care of it. You know who's going to take good care of it? They are for themselves.

So the bandits have set up significant tax landmines that threaten their ability to transfer and support their granddaughter's development.

They face several daunting financial challenges. Following standard mainstream advice.

There'S significant probate fees, hefty probate fees, therefore reducing the inheritance meant for Leo, Emma and Chloe. Administrative complexities. The process of transferring assets from their estate to beneficiaries is complex. Time consuming with the need of professional fees. There's legal constraints on asset transfers. Transfers of investment assets are fraught with legal challenges and potential tax implications. Costly trusts and limitations establishing and maintaining trust and manage the assets. And the thing that micro nuance just for you to just to share with you as a medical professional. Ontario laws prevent Benjamin from having a trust own his medical corporation.

Makes no sense.

High taxation on investment income. A substantial amount of his investment income would be lost in the corporate environment of 50% passive income taxes. The increased tax burdens with the new tax laws of over last 10 years preventing their ability to split income increase capital. They increase Capital gains inclusion 67% the alternative minimum. I can go on and on and on about the list. The challenges are real. You may not have the same list, you may not have the same amount. You will still have the same challenges.

So they could have received the standard advice and start melting their investments. Pay passive income taxes on the passive income and deal with the 67 inclusion capital gains taxes just to fund their retirement. Just like how everyone tells them to do things.

And they'll be waiting to leave 200,000 in taxes just on that investment portfolio.

They recognize that the ever changing environment with the bandits writing new tax laws that minimizing their ability to build larger generational wealth and support their granddaughter through her development and milestones.

So instead they approach the situation differently.

They used the profits from the taxable investment fund and started melting at a.

Moderate pace of 10,000 a year to the tax exempted inheritance builder for Chloe.

So this is the more efficient and versatile generational transfer. And assuming Benjamin and Melissa live until 90 as I'm going to trust the professional opinion here, maybe that's 10,000 per year for over 40 years. That's 40 years. He will be able to help fund and build this fund. And in return for building that fund it started at almost $1 million.

For the next generation after Chloe and up to 5.3 million.

So oh, I have a typo here for the 400,000 put in the grandparents. A tax free trust fund in escrow has been set aside for the next generation after Chloe. So if Chloe lives until 70, that amount is contractually legally binding to be delivered to the next generation tax free.

And you know what?

She needs to use the money. They want to use the money for her development. Well her first 20 years.

Let's look at that soil. And at age five they want to spend it on creative arts. When I was growing up, I immediately got into piano. My poor parents had to work Extra jobs. I very rarely got to see them. That's how they paid for it.

I didn't get to benefit from that. However, they have and planned for the amount that they're going to need for it. Then there's the ability to pay for school. If you ever looked at the most recent articles, post secondary education is almost $70,000 a year now what about her first car? Now I deliberately chose $90,000 because just to just to knock it, just to not cross the $100,000 luxury tax threshold. I think the bandits got enough money and then for the price of 200,000, that fund is growing at 2.9.

So this is a versatile tool for the many needs of her life. Even after Benjamin and Melissa are gone. And by the way, sorry, I meant to put $400,000. The 400,000 goes in and by then they don't contribute anymore. But here's the soil. It still grows up until I've only capped it to age 70. 10.6.

And what can she use after for it?

Pay for more post secondary education, Pay for down payment for her home. Miscellaneous reasons I don't even know.

And imagine having a tax free assuming this situation can be available and it probably it can make more progress in the future. A fund of approximately almost 4 million available.

And it doesn't end like the government's tools that end. So for the 400,000 put in by the grandparents, it would be used to pay for the things that Chloe needs for her life. When Chloe reaches 18, the grandparents can transfer the ownership of the policy to her with no taxable event. How about that?

You decide what you put in. I'm just showing you.

Numbers that can be easily digested and pretty close to what they've done.

And with skilled professional guidance, the value and impact can be monumentally in your favor. Just like the Thompsons. It doesn't have to be just like them. Yours could be even better depending on your goals and objectives, your requirements, your dedication and commitment in what you put in.

So this tax efficient, secure and flexible financial future move funds that were growing at a taxable environment to a basis that accumulates tax free. So you left the 67% inclusion rate on any future seeds with a 50% passive tax income. Properly designed par whole life policy also bypasses probate and it avoids substantial probate fees, preserving more for the wealth for heirs. It minimizes and removes a majority of administrative complexities. You know how complicated this amount this setup needs to be? A conversation with a team member, a coach to keep you updated with it and for you to make sure you stay up to date with it. And it's as simple as. And what's it moving to? Logging into the portal to make sure the proper setup is there.

No lawyers, no professionals, no bureaucratic things to wait for. Usage of the income tax code and compliant provisions. There's nothing incompliant about what we're doing. Minimize the involvement of professional fees to transfer the value of assets. Now, there's a significant problem with implementing the generational waterfall.

The generational waterfall isn't just about monetary side of things. It's more than that. Now what you see is a watch.

And this watch was the very first watch that I bought when I was a young kid. It probably was about 50 to $100. I don't actually remember how much it was.

For those of you that don't know, I started working when I was really young to earn money and hide the embarrassment that my parents didn't have a lot of money or how I would get made fun of. So I bought this watch to make it look like we were not as financially challenged.

Now, as time grew on and being the stupid kid that I was growing up, I was consumed with upgrading myself to hide that my parents didn't make a lot of money. So I got a new watch to replace it. And you know, things go on from that kind of pattern. One of the things or attributes my father didn't like was that he didn't like that I would put things to waste.

And the worst thing was I would be such an idiot back then to call him for being such a fool for being so dated.

Sorry.

Sorry, I had a pop up, pop up.

At least it gives me some time to collect myself.

Well, well, thank you so much.

This beautiful presentation. And I'll turn it over to you. I just want to make sure my screen's shared. So. I would be such an idiot back then to call him for being such a fool for being so dated. And he would end up preserving this watch. He would change the batteries, change strap, whatever it was.

And as long as he could get the watch to work, he would never throw it away.

It's a measly $50 watch.

And even though my father couldn't leave us with much of financial much financially after his graduation.

What he left me was the best inheritance I could have gotten from.

Was a reminder that I can never get back time.

In that time, the lessons, the wisdom, the teachings at the best of his abilities that he passed to me.

And the level of trust he had to build Me to who I am now and who I will be in the future to carry on the next generation.

No amount of money.

No one will ever take that away from me.

And these are the principles I just wanted to share with you that while our team.

Is here to help you achieve your wealth financially.

Nothing is going to replace the desire you have to look within to do it.

Keep the money you built circulating in your own family ecosystem. Build the lessons within the family, because this takes time. I was a stupid, ignorant kid.

If you want to keep the generational wealth, what holds it all together is the investment of time and energy.

You put into that generation.

For the Thompsons, with just one smart strategic step, it can evolve where everything the Thompson heirs needs can be financed by the Thompson's ecosystem.

Boeing. The Thompson's heirs may never see or need much use from those wicked commercial banks ever again.

Maybe that's their wealth strategy, but at least they'll have the choice, the unity, to come together instead of being divided. And this requires a commitment to think three generations ahead.

And I just want to quote a wonderful teammate of mine, a legacy isn't something you leave behind. It's definitely something you actively create.

So in case you haven't had a chance, make sure you schedule a call with our team, 780-809-4599 and make sure that this becomes your focus because times are very different today and I really want to encourage that you really look into it just for your family and your next generations.

So just wanted to.

See if there's any remaining questions. We are pretty close to the amount of time for the evening and I wanted to thank for. Thank you all sticking around to enjoy the information that I had to share tonight and thank the team for supporting me in this wonderful time and also support and just appreciate the fact that there's a wonderful amount of clients here tonight supporting and sharing the information because this is just how important it is to. I got the privilege to share tonight, but it's for all of us. So make the valuable use of your time tonight and actually schedule a call. You have nothing to lose and you have everything to gain. If you think we're going to charge you anything, take the checkbook that you have, keep it at home, keep it in your back pocket. We're not going to ask you for it when you meet with us. There's no charge on that either. So we're just going to make sure that we have a really good basis for us to work together.

Thank you, Harry. There is no question to remain all. The question was answered.

Great job, Henry. My pleasure. Our great team answered all the questions, so.

Thanks for sharing that with us. Thank you. And the session is recorded on YouTube and you will all be able to get a copy of the recording. So the concepts may sound very overwhelming. However, that's why we're here as coaches. If you're working with our coach, coaching team, they're going to guide you through your unique journey. And it doesn't mean the principles. The principles are still going to be able to be applied.

All right, thank you, everyone. I guess we'll call it an evening. Thank you. Thank you, Henri. Bye, everyone.