This Is How The Canadian Infinite Banking Concept Will Change Your Life

No one's going to ask you what are you going to use that money for. You get that choice, you own that policy, and you get the right to use a policy loan for whatever you want. So that's a key thing. So it's a great place to store money.

Hi. Today I wanted to cover five reasons that people implement the infinite banking concept in their lives. Now there's more than five, but today I'm just going to go through five of them. The first one I want to cover today is being able to prevent lost opportunity costs. Second one is so that to own your own debt. The third one is a repository or a warehouse that they want to own where they can store their money so that they can use it for whatever they need or choose to purchase in life, whether it's an investment or something else.

The fourth one is where people who understand that keeping your money in motion is a key thing to do if you want to increase your wealth. So this process and this concept works very good for that. And the fifth one is wealth transfer. So I'll try to cover all of those and give you a little insight into each one of those. Now, my name is Dan Allen and I'm with Ascended Financial and I've been helping people implement the process called Becoming youg own banker since 2017, and I've been personally practicing it since 2014.

So let's go through those five reasons in a little more detail. Now, the first one was to help prevent lost opportunity costs. So what is that all about? Well, this one I can speak to personally. So when I first discovered this process, one of the things I realized is I've been paying cash for a lot of things in life. I felt really good about where I was financially, but I kept.

Losing the opportunity for the money that was flowing through my hands to do anything else for me for the rest of my life. Because I was spending cash and when I spent it, it was gone. Now this concept and the process called becoming your own banker allows you to still go to the store and purchase what you were purchasing before, but you're using other people's money and your money keeps on growing. So that's one of the key things. For myself, when I looked into this whole concept and the stage of life that I was at, I really wanted to get away from paying cash and losing the ability for that money to ever do anything for me for the rest of my life because it was gone. So that's really an example of.

Losing the potential for the money that flows through your hands forever. And it's just an interesting discussion. And if you ever want to look into that or talk about what do you mean by opportunity costs and loss? Opportunity costs, that's something I'd love to talk to you about. So if you want, you know, just reach out to us. We're always available just to have great conversations about this and check out some of these other videos that we're doing. They can help you to understand this process.

Now, the second one was owning your own debt. So people understand when they get to know this process and this concept that there's a way for them to own their own debt. So you go, well, what's the advantage of that? Well, it's a huge advantage because now instead of when you make a loan payment, that money used to flow away to someone else's bank, you can have that money flowing towards you. Now you might say, okay, well, if I got this debt within my banking system, there's going to be a cost to that. Isn't there going to be interest rates costs on that? Well, yeah, if you, which we coach you to do, use policy loans to own your own debt, there will be interest charges that the life company will charge you for that loan. But the thing that you need to understand is even when it's structured properly, your cash value in that policy will grow more than what the interest costs are each and every day. So you're getting ahead. You've actually started to create the environment where you can start to get ahead compared to someone else doing the same thing and having that debt at someone else's bank. So that's the second one that I really wanted to cover. Now the third one is just a warehouse, a place to put your capital. And what does that do for you? Well, if you have capital that's ready available, then as opportunities come along, while you have the ability to take advantage of that opportunity without grumping through any hoops, you don't have to worry about, well, if I take some of my value out of my policy through a policy loan, is there going to be a fee for doing that? Well, no, there's no fee to access your money. You're going to have to pay interest on it, like I said earlier. But the actual process of taking money out, there's no cost to doing that. It's a really simple process. You can have your money within days and you get to choose what you use it for. No one's going to ask you, what are you going to use that money for. You get that choice, you own that policy, and you get the right to use a policy loan for whatever you want. So that's a key thing. So it's a great place to store money because it's safe and it's predictable. The value of your money that you stored there will go up every day. It has to. As per the contractual agreement that you have signed with the life company, it will continue to increase in value. So a great place to store your money and have access to it.

Just so many good attributes as to why it's a great place to warehouse your money. Now, the next one is for people who are really interested in keeping their money in motion. They understand that if you just put your money under a rock or somewhere where it's getting next to nothing for interest, it's really hard for that money to increase in value. But if you put it in motion, just like the banks do. Again, let's go back and talk about what the banks do. They take other people's money and they use that money to lend it out to others. So they're always keeping that money in motion. They never let their money sit still at the bank. They're always looking for ways to get that money in motion. So with this process, you become the bank. And you can do exactly the same thing. You can keep your money in motion each and every day. You can be looking for opportunities. In fact, you can even lend it out if you so choose. You can use it for your own purposes, or you can set up the proper contract with someone else and do private lending. That's a great way I do it. I have private loans with my children and with others. So it's a great way that you can actually keep your money in motion. Now, the last one that I wanted to speak about was wealth transfer. So this is an excellent attribute that comes with the process called becoming your own banker or the infinite banking concept. And that's that we're all going to leave earth at some point. We're all going to pass on, allows you to transfer your wealth to the next generation, to your beneficiary or to a charity. You get the choices as to where that transfer of wealth goes. And when you do that, you've either enabled someone else that you care and love about love, or some charity to actually benefit from the transfer of your wealth to them. And it's tax free. Done right, it's tax free. So that's just a great attribute. And when you think about it, and one of the things that I'm personally working on is, you know, as I get to a stage where I'm not able to work anymore and still have payments coming, there'll still be a cost of living. Payments never end. I can start to use some of my value that's in my infinite banking concept system. And still when I walk away for good and pass on there's still going to be a huge transfer of wealth to those people that I choose to transfer that to. So those are the five things that I wanted to cover for you today. Just give you a bit of an insight as to why people use this infinite banking concept in their life. And there's more but these are just five and I hope they help you and I hope you find some value from what I shared today and if you want to talk more about it again reach out to us. We'd love to speak to you and by all means take in more of the information we have and if you haven't subscribed to our YouTube channel, you've got an opportunity. So with that going to wish you well. Thank you.