The Secret to Keeping Wealth in Your Family Forever (That The Rich Use And You Don't!)

I believe infinite banking is a lifestyle. But the only way that you can build that into your life is to start getting the right training so you can develop the mindset, so that you can actually stick to a process. This is a mindset model of financial implementation. It is a lifestyle that we begin to incorporate in everything that we do.

Wealth is not built through the accumulation of this. That's not the only component. It's built through action. It's built through generational values, generational knowledge, generational stewardship.

Foreign.

Let's get real for a second. You're getting up every day, you're working hard to earn income. You might be earning it from a variety of different sources and that money flows.

Into your account.

Government takes a slice, banks take a slice, credit card company takes a slice, the bills take a slice, the loans.

Take a slice, inflation takes a slice.

And takes a slice. So you're doing all the work to earn all of your money and systematically transferring it away. Everyone else is getting all of it. And we're going to address that today. We're going to discuss how the infinite banking concept can help you to not only build wealth, but to keep more of of that hard earned money flowing into your hands, not through your hands. And why haven't you heard about this before? Well, it's not exactly like the banks or the government are handing out brochures on the subject. So we're going to dive right in, we're going to have a great discussion about it. Rich, why did I call you Rick? No idea. I don't know where that came from. Richard, dive right in. Tell us what the essence of the infinite banking concept is and why anybody should care about it.

Well, pretty simple. You need to build up an amount of capital that you can use for things in your life. You have to build it somewhere. Your money's got to reside someplace. For most people it's in a savings account or a CD or a GIC or a term deposit. It's in some kind of a hopefully liquid location, hopefully not stuck in a prison of some government plan. And you're going to build it up and then you have to use it. You got to to take it out to use it for things that you need. You got to buy a computer, you got to buy vacate, you got to pay for a vacation for your family, you got to pay for Christmas gifts, you're going to pay for investment in your business, you're going to pay for equipment, you need to do renovations on your house and on and on and on. We can list everything under the sun that you're going to spend all your darn money on. But when most people do that, they take their account and their account balance drops and the money goes to someone else and they give up and lose the ability for that value of money that they had to continue working for them for the rest of their natural life. I don't care how old you are, you're gonna, you've got more life ahead of you. And at some point in time we're gonna be talking about you in the past tense. And then there's your family members in the same situation. So if we lose that potential on all that capital, we've actually made a multi generational transfer of money and wealth away from, from your family forever.

So that's not building it, that's a way to transfer it away.

That's transferring away. And that's what most people are doing throughout their life. People that implement the infinite banking concept, they, they still have to do with a similar process. The difference is where do they do it? Where do they warehouse the wealth? And we implement a special tool called a dividend paying whole life insurance policy. We, we structure that accordingly so that we change the way that we, our habits are around the method by which we store and warehouse our money by storing it and warehousing it inside the, the mechanism of this tool. And by having a co ownership relationship with an insurance company that's demonstrated for 100 to 200 years that they're really good at managing money in a profitable way and sharing those earnings with the people that own the company. So we put you in that ownership position so that you can receive all those benefits and never have to see that money decline to zero anymore. You get access and control, but now you have preservation of that constant motion of capital that you're otherwise have been giving up for most of your life. That's some of the core steps involved in implementing the process. But there's no point in even going there if we don't first address our mindset. This is a mindset model of financial implementation. It is a lifestyle that we begin to incorporate in everything that we do. Really fundamentally. I believe infinite banking is a lifestyle. But the only way that you can build that into your life is to start getting the right training so you can develop the mindset so that you can actually stick to a process. If we don't get that part done in, in the first place, probably don't even bother getting started.

We're talking about now this is a book that you need to add to your wealth building library. There'll be a link somewhere in the description on how to set about doing that. This book, it'll take you less than an afternoon to read. You've got to add it to your wealth building library. The late R. Nelson Nash, our mentor, who we were blessed to be mentored by for so many years, developed and pioneered the concept. But he always said that unless you understand the problem, the solution just won't matter to you. So if you were to sit there and think about all that money that's flowing through your hands for everything that you pay cash for, our editors are going to do this. Watch this. Everything that you pay cash for, everything that you lease, everything that you finance, and you've got all that money being permanently transferred away from you. And you understand that there's a way to change that process. To have more money flowing into your hands. You have to first recognize that the money being permanently transferred away from you is a problem. And the solution to that problem is controlling the banking function as it relates to your needs. How do you do that? Richard mentioned you pay premium into a dividend paying whole life insurance contract, ideally a system of contracts where you're ensuring the lives of those that you have a beneficial interest in, whether that's parents, children, grandchildren, great grandchildren, spouses, joint venture partners, real estate partners, key people in your company. And that you're paying premium. That's money that's you're paying to the life insurance company that you become a co owner of. And in exchange for that co ownership, cash value begins to build up inside of your policies. Immediately you get to borrow against that ever increasing accumulation to go about financing things like.

Real estate. What was the other one which I showed you earlier? What do we got? Look at this. I got to turn the lights on this thing. Check this out. It's even got lights, cars, right? You, I'm talking to you, the viewer. You're going to spend more money on these things throughout the course of your lifetime than you'll ever save for retirement. And for all you business owners out there, you know you need the equipment to run your business. You need capital for all these things. The insurance company permits you to borrow against your cash value unstructured. Meaning the loans that you get from the life insurance company, they do not have a repayment schedule. The lien for the loan balance is on the death benefit of the policies that the loan proceeds were borrowed against, not what you're buying using the loan proceeds. And so that puts you in a position of total and absolute control. The loans are not reported to TransUnion, they're not reported to Equifax, they're private loan arrangements. The cash value is contractually guaranteed to grow daily. It can't go backward. You participate in the divisible profit generated by the life insurance company on an annual basis in the form of dividends, which do not trigger a taxable event. You can contribute almost unlimited sums of money, have ready access to money on demand, on your terms, without triggering tax, without reducing the asset's value. So logically speaking.

How much of your capital do you not want residing there? Knowing that from that place you can build and most importantly, keep wealth isn't that good.

You know, a lot of people spend their time trying to figure out and research how they can build or create wealth. And you can lose your mind doing searches on Google all day long and you're going to find everything under the sun on how to go about doing that. Most of those things are going to be talking about some kind of an investment where they want you to put your money at risk. And by all means, I mean investigate those things, consider them for yourself. But I would encourage and challenge you as a listener, only put capital into something that you know a great deal about. And, and this process is something you should learn a great deal about also. That's why we have a whole education channel and a podcast that talks about all that education. That's why you need a copy of this book so you can be well informed and make good solid decisions. You, you shouldn't be doing things in your financial life if you're not well informed and making good solid decisions. And probability you've already had experiences of screwing that up in the past like I have. Like most people, I've got all kinds of great stories about where I screwed things up in the past. Okay, but get yourself clear on how to implement a process, not how to go and purchase a product, not how to go and buy or get involved in an investment. And all these wealth building ideas, most of them centered around the concept of again, taking the money that you've earned and generated and separating you from it. Most of the financial world wants to, wants to put something in the middle of you and your money and get you farther away from your money. The infinite banking concept is the exact opposite. It wants to merge you and bring you closer to your money so you have a better long term relationship with that money and with your family members through good conversations and do that over multiple generations. It's about proximity and it's about inclusion of money conversations and the methodology of utilization of your money. Right at the you and me level. It's not about separating you from it like most of the rest of the world is trying to do.

That's such a good point. People want to understand.

How to build wealth and how, how the infinite banking concept can help them do that. Wealth is not built through the accumulation of this. That's not the only component. It's built through action. It's built through generational values, generational knowledge, generational stewardship. The infinite banking concept is a process. It's not a product that you can go and buy. But here's the kicker. It flips the script so that you can sit at the head of the table financially. For once in your life, you maintain a position of total and absolute control as it relates to how you finance all the things that you need throughout the course of your lifetime. Here's another editing deal. Check this out. What are some of the things that you finance throughout the course of your lifetime? Rich. I'll point them out. Go ahead.

Cars, houses, computers, business equipment. You would. In finance, I would imagine, I mean schooling, education, coaching, services. You might invest or put capital into actual investments, things that you're borrowing. Another one would be.

I'm going to say, you know what, how about your final expenses?

Final expenses.

Throw something new in the mix. We have, we don't bring up very.

Often all these things that Richard just mentioned. You've likely experienced having to finance throughout the course of your life. So just think about this. Everything begins with the way that we think. If you were to tally up all the money that you've spent up to this point in your lifetime and just envision what your family has spent up to this point in all of your lifetimes, all of that money permanently transferred away. You can't earn interest on it again. You can't save it again, you can't spend it again. It's gone. And it all ended up back on the books of someone else's bank. All of your debt payments are someone else's passive income. Stop and think about that for a moment. So if you get to control how you're financing those things that you need throughout your lifetime, which can include investment. Richard touched on investing. This is not a process where, like imagine if you went to your bank, Richard, and your bank said, listen, you either leave your money here or you put it in Bitcoin. You either leave your money here or you put it in real estate. You either leave your money here or you invest money in the stock market. You either leave your money here or you invest in insert whatever the product is. The bank is saying, we want to be the organization that has a supply source of money that can and must move at a cost. And we got to repeat that over and over again in order to maintain a viable business and earn a great return for the stockholders of our company. So you, the viewer, you fill the role of being the depositor and the borrower. The bank that you're dealing with fills the role of providing a banker and rewarding bank owners. When you implement the infinite banking concept, you become all four characters in the financial play. You pay premium. That's the depositor. You access capital. That's the borrower. You determine the terms of access to that capital. That's the banker. And you participate in the divisible surplus generated by the borrowing and repayment activity and every other line of business that the insurance company is involved in and the profit that it generates, that's the bank owner. When you become all four characters in the play, the only outcome is building wealth, provided that you understand how to fill that role responsibly. And that's where you need a really good coach to help you do that. And that inside of our organization ascended financial across North America. And again, Richard mentioned you got to tune into our podcast, wealth on Main Street. Wonderful podcast, great episodes, great content, great resources, but we're here right alongside you on this journey. So understanding how to build wealth is one thing. What nobody's talking about on the YouTubes is how to keep it and how to not lose it. That's an entirely different skill set altogether.

I would say this too, Jay. I mean, wealth is a.

In the modern world, everyone associates mentally, an image or a picture of, whether it's a currency or maybe it's gold bars or there's something that you perceive as what wealth is, Right. But is that really your definition and your perception of wealth? Or is that what the world has trained you to think and what do you want to accept? Do you want to accept everyone else's definition that they're forcing down your throat and they're. And they're bombarding you with? Or do you want to create a definition that works for you? You know, in the circles that you and I travel in, entrepreneurs, successful entrepreneurs, they think wealth is something very different.

It.

It has to do with their mindsets, the things that they know and understand that they can transfer wealth transfer to the next generation, the people they love and care about. And it really has to do with the knowledge base and the experiences that they've been able to determine that it's allowed them to create money or, or monetary value that the rest of the world perceives as wealth. So true wealth for them isn't the monetary value, it's not the dollars that they're leaving behind. It's the life, knowledge and experiences about how to go about obtaining and controlling those dollars that they've created. It's a very different circumstance. So I would encourage anyone watching this get really clear, grab your notepad, grab a pencil and start jotting down the descriptions, the words that identify with what you believe wealth is. And so when you're now looking out and you're over there on the youtubes and you're googling out all the wealth creation models, take a look at whatever shows up on your screen and then grab your notebook and take a look and say, oh, does the thing that I'm looking at over here relate to the definitions I wrote down and how it relates to my, my vision of what wealth really is for my family? How is this thing over here going to help me build what I've got on my list? And if those things are out of alignment, throw that crap out. Find something that's in alignment with what you truly believe and start there. Get the premise correct at the beginning so that you can plod yourself forward in the direction that you actually want to go.

Yeah, that's really, really great advice and it makes perfect sense because people, and you may have seen this as well, where I've even shared this with folks, that.

When you're pursuing wealth, and let's presume for a moment that you get there right, whatever your financial.

Number is, when I become a multi millionaire, I'm going to be wealthy and I'm going to be happy. I think what you may end up realizing, so having been there ourselves, Rich and I have generated millions of dollars in income. Millions of dollars. And this is not all that we do. And we realized it wasn't really truly the money that we were after, it was the everything, the freedoms that it creates, the freedom of time and purpose, relationships, certainly money. But defining what that truly means for you and for your family is just such an important, vital step of that. How does that tie into how infinite banking can help you build wealth? Because when you get the banks out of your life, believe me, coming from firsthand experience and sharing with you, we don't rely upon a conventional bank for anything other than the convenience of debit. That is a peaceful, stress free way of life financially and you don't have to go very far on the YouTubes to see all of the sensationalism around the tool that's used to implement the infinite banking concept. High cash value, dividend paying, whole life insurance contracts and a bright light that gets shined down on all of the attributes and how sensational this contract is and how you can become your own banker as though it's an event, it's a process and the tool is merely that. It's a utility that's used to implement the process. Where the real benefit is derived from is the peaceful, stress free way of life that it creates. When you get the banks out of your life, not many people out there are talking about that. And if that resonates with you, if you find yourself thinking this is something I've been looking for, then two things. Get your hands on a copy of this best selling book. There'll be a link in the description to do that and we courier the book to you. We don't mail it, things get lost in the mail. We courier to exactly where you want it to go. Read it with an open mind. It's going to open your eyes to a whole new financial world and then create a one to one conversation, a personalized discussion with the right person on our team. I guarantee you you'll be glad you did. Don't bring any money to that interaction. Nobody's going to ask you for any. That's an opportunity to see what possibilities this concept creates for you and for your family and for your business. Rich, this was, this was a lot of fun. And to everyone watching on the YouTubes, another video just popped up. That's our way of encouraging you to continue your journey of learning. There's no such thing as having arrived in knowledge. Make sure you watch that next video. Continue growing, continue learning. And we look forward to hearing your success stories in your implementation in the infinite banking concept. We're practicing banking and I think it just gets to be a point where when I think about a loan, when I borrow money for a vehicle, I was going to have to pay that debt somehow anyhow. I haven't changed. I was still going to save money or pay money for that vehicle. When our children are old enough to own the contracts, these insurance contracts that we purchased on their lives, our family attorney is already preempted.