This Wealth Creation Strategy Works even While on Vacation!

All we have to do to create wealth for our family is change the process. We can make the banking function work for us. You're either going to access money and borrow it from someone else, like someone else's bank, and now you have to pay interest to someone else, or I'm going to pay cash for the trip or whatever. Well, what we're not seeing is what did you give up? It's all about control as well. The bank is actually getting the control and the use of that money and the and they're setting the terms and that's working against you. We're showing you how the banking process can actually work for you.

Well, hello Canada. My colleague Jingen and I are here to tell you today that if you are spending cash or borrowing money from someone else's bank in order to finance your family's vacations, you may be missing out on a huge opportunity to actually create wealth while you go on vacation. So let's stick around to the end and Jingen and I are going to explain to you, just by changing the process, how you can, for lack of better terms, get your cake and eat it too. We are going to show you how you can build up wealth and go on vacation at the same time. Okay, Stick around to the end. So, Jinja, we are talking about going.

On vacation and also summer is coming up, right? A lot of families are planning for this long deserved summer family vacation time as well.

Now, in your experience, Jinghen, I know you have a family and you have kids, and you've probably gone on the vacation from time to time, maybe even before you started implementing becoming your own banker. Talk to friends and family. How do most people go about financing vacations in Canada?

Well, there are mostly two ways. What I used to do before I discovered the process of becoming your own banker is that during this whole year, I will be putting my money or saving my money in a specific account called Traveling Vacation fund, right? So every month we will deposit some money that we wanted to save, and this amount of money will pile up in our account. And unfortunately, what happened is after this vacation, which we do want to get points from the credit card that we booked this trip for, and we'll dump that amount that we've been saving all this year to that credit card to pay off that credit card. And that money is gone.

Gone. Oh, this is so good. So Canada, I want you to stick around here because we're actually going to show you some numbers. I'm actually going to walk you through one of our own family policies. That we use to finance a vacation. It was the first major accomplishment, first major thing that we used our banking system for back in 2019 to actually finance a family vacation where I took my whole family to Vegas. So stick around. We're actually going to show you some numbers here. But before we do that, I want to really emphasize what you said here, Jingen. The first things first. You piled up money. So you took your cash, you set it aside, and out of curiosity, is this true or not true? You were piling up that money in someone else's bank, is that right?

Yes.

So that bank actually has use and control over that money. They can use that money to grow more wealth for their business, and they're not sharing any of that with Jingen. Is that right?

No.

Right. And then you go on the vacation. Smart thing. You use the tool called a credit card. Hey, we're going to pay for it anyway. We got all the cash. Let's get the points. Which nothing wrong with that. I do similar thing. But then you took all that cash out of the savings account, and then you permanently transferred it away from the family and paid off the credit card. Smart, reliable, or smart, responsible thing. But unfortunately, you gave up the financial energy for the rest of time on those dollars. Is that right? Okay, so what I'm going to do, Jingen, is I'm going to actually drill down a little further on this. I'm going to go ahead and share my screen. Now, this is just for illustrative purposes. Okay, Canada. But I just want to show you what is possible. What's possible? What are we actually giving up? There are what we call unseen wealth transfers that are happening every single time you use a dollar. Okay, what I'm showing you here is just something a simple opportunity cost calculator Nelson Nash would call this lost opportunity. Whenever you spend your own cash, you're actually giving up the opportunity to grow that money. Jingen, there's four characters in the financial play, right? There's a depositor. And what's the second character?

He's a borrower.

A borrower. And we're all always borrowers, aren't we?

Yes, we are.

Nelson taught us that we were always dealing with borrowed money. Now, I want you to think about this candidate. You actually have to think you're either going to access money and borrow it from someone else, like someone else's bank, and now you have to pay interest to someone else. Or you're smart. Hey, I'm going to pile up money like Jingen did. Nothing wrong with this. We're just going to add a layer to what's possible. But you pile up money in someone else's bank and no Bern, I'm going to avoid paying interest. I'm going to pay cash for the trip or whatever. Well, what we're not seeing is what did you give up, Jingle?

I gave up the potential of this money will grow and you know, existing in this family. I lost all those opportunities.

Yeah, so you lost the opportunity to actually earn interest. We're either going to pay interest to someone else or we're going to give up interest we otherwise could have earned when we spend our own money. So I'm going to illustrate that for you right now, Canada. But before I do, you might be finding yourself going, hey, this is pretty interesting. I want to learn more about this process called becoming your own banker. There's going to be a link in the post description below and you can go to watchibc.com that's watchibc.com and you'll be given access to a 90 minute webinar that will give you a much more in depth overview of the process of becoming your own banker. And you'll be starting your journey already. All right, so let me share my screen here, Jingen and go back to our calculator. So the trip that I took in 2019 with my family, we had already planned it out. We, we promised our kids. Maybe I opened my fat mouth too early, but I promised my kids early in 2018 that we would take them to Vegas. And don't ask me why my kids wanted to go to Vegas so bad. My wife and I must have just talked about how great it was and there's actually a lot of things to do with kids there, interestingly enough. So I promised my daughter we would take her there for her birthday. So one way or another I was going to make it happen. So what? The trip actually cost us about five grand, which is actually pretty modest. We actually took a road trip and we drove down. Now what I'm showing you here is how much did we use? $5,000. And I'm using a pretty conservative rate of return. I want you to imagine if we were able to keep this 5,000 in some sort of an interest bearing account for our entire life without interrupting the growth and we're able to earn just 3% interest on that money, what could that have potentially turned into over the course of my lifetime? I was around 35 years old at the time and so statistics Canada says that a 35 year old would be around somewhere around age 85. Right. Maybe longer, maybe sooner, God forbid. But that's if everything goes well. So now we're just going to hit compute here and now. What this is showing us is when I made that $5,000 decision, when we go on a vacation or something like that with our family or we spend $5,000, Jingen, is there many things to spend $5,000 on?

Oh, yeah, absolutely.

Are we using money in banking all the time? All the time. And what we don't realize, Jingen, is when we make a $5,000 decision today, it's not a $5,000 decision for the rest of my life and the next generation that comes after me, I'm actually making closer to a $22,000 decision because of what that could have earned. I'm actually leaving triple the amount of what I spent. I'm leaving $17,000 of potential interest growth on the table. I gave that up forever. And someone else, what people aren't understanding is that someone else is harnessing that growth potential because they are the banker and the bank owner in your life. So, Jingen, who are the other two characters in the financial play? We have the depositor, we have the borrower, which everyone in Canada currently is. You are depositing money and you are using capital, period. There's no two ways about it. What are the other two characters in the financial play, Jingen?

It is the number three is a banker and the number four is a bank owner.

Okay, so let's break this down real quick. The banker, what do they do? Don't they set the terms of if you're going to access money? They set the terms right. They go access, they tell you how much you're going to pay, when you're going to pay it, for how long you're going to pay it. Right.

Now, the bank owner, pretty simple. They're the one making all of the money in this equation. Is that right? Or the most?

Yeah, they probably getting the dividend from the profit of all those transactions.

Yeah. And more importantly, like, again, it's all about control as well. The bank is actually getting the control and the use over that money. And they're setting the terms, and that's working against you. We're showing you how the banking process can actually work for. For you. Okay, so what I'm going to do now, Jingen, is I'm actually going to share my screen and I'm going to show a snapshot of the sort of a day in the life, if you will, or a couple of years in the life of the McCarty family banking system. Now, like I said earlier, this is one of our older policies in our system. And I'm going to show you. Actually, I'm going to go back in time and I'm going to show you what the policy looked like right around when we first started it. And I'm going to show you what the policy looked like after we made a decision, which is one of Nelson Nash's golden rules. Don't be afraid to capitalize. Instead of spending the money on the trip, we had this windfall of cash, and we had this money for the trip ready to go around February of 2019, and we were going on the trip in March. So I could have kept that money and said, okay, I'm just going to spend it on the trip and go create all those family memories and have a good time. And then the money would be permanently transferred away. But instead, what I did was I followed the process because I was lucky enough to have a really good coach. Jingen, should we become our own banker and do this on our own?

No, I believe everything we learn, we need a good coach. We need someone who's been there, done that, and someone has a lot of experience with it.

Yeah. Like if you were. You're a real estate investor, right, Jingen? Now, maybe you did start on your own. I know I've made some massive mistakes, but aren't we better off to have a mentor, somebody who's maybe read a lot of books, written a book, they bought 10, 20, 30 properties. They know what it's like to go through that whole entire cycle. And they can, you know, it's okay to make your own mistakes because you either win or you learn. But they're going to point out some things that you never would have known had you not talked to them. Is that fair?

Absolutely. And any mistake that you can avoid is going to be huge. Right. And especially you can never go back in time. So I value that a lot. It's way, way better to have a good COD so that I can avoid maybe some of those mistakes.

Absolutely. And luckily for you, Canada, my clients, when they work with me, Vern's made a lot of mistakes. But that's a good thing because I've learned a lot and I can bring, we can bring all that value to the conversations when we chat with our clients. So great, great point, Jingen. So let me go ahead and just share my screen here. I don't want to get too insurance heavy here. Okay, Jingen, but we know there's the process of banking, right? And then, Jingen, we need a tool to implement the process. Right? What tool do we use to implement the process of becoming your own banker?

We use a properly designed, participating, dividend paying, whole life insurance policy.

Yeah, now that's a big mouthful, right? But now when we say whole life or whatever here, we want to emphasize, like Jingen did, that it has to be properly designed. It has to be with the right carrier. You know, there's many different types of insurance policies, many different types of companies, and they're all, they can be structured very differently. So it's important to have it structured correctly. Which again, Jingen, why you need to work with a good coach. Correct. Okay, awesome. So that's part of the journey here, folks. We can't just get any policy. Now, ideally, we want to place our policies with something called a mutual insurance company. There's nothing wrong with what's called a stock company. In fact, I own many policies with stock companies, but wherever possible, I want to own my policies with a mutual company, which I own policies with mutual companies as well. Because the mutual company, when I own a policy there, I now own a piece of that business. I literally become a co owner in the business and I get to participate in all of the profits generated from all the product lines. Okay, so Jingen, you can see right here, the first thing that I want to point out is do you see here where it says policy issue date? So this is when we actually started the policy. August 20th of 2018 is when this policy got started. Okay. This is one of the first policies we set up that was properly designed for banking. And I have some older policies on my kids, but this one's properly structured for banking. And I didn't have it set up correctly until I got a good coach. Shout out to Richard Canfield. God bless you, man. Okay, now this statement that I or this summary that I downloaded here was downloaded and I saved it way back. You can see the date right there, Jenjan. It says March 11, 2020.

2019.

Yes, 2019. So I actually was. What I was actually doing now, Canada, there's something you should know about this. The way that we structure these policies, if I scroll down, there's many different ways to deposit premium. Okay. I can deposit premium monthly. Do you see over here, Jenjan? Yes, monthly. Or I can put it in annually. Now, in a perfect world, the policies are more optimal for premium to be deposited annually because, hey, when's money worth the most gingham?

When it's more energy.

Yeah, like it's worth the most Right now. Today.

Right.

If I give all of the capital to the insurance company right now, it's going to make the policy work a little bit harder. But, Jingen, if I had to start a policy and start monthly, is that any reason not to get started?

No, it's always better than never.

Yeah. Should I start now if I had to do it monthly, or should I save up my money for a year so I can deposit it all next year?

You should start now.

Start now, because I can never get the time back, can I?

Absolutely.

Now, the other thing that people should know is that every policy has what's called a base or a minimum or required premium. So if we look at this right here, where it says the build amount, this is the number below is just showing what it would be annually. But what I did, Jingen, is I said, look, I know I just need to start capitalizing. And in 2018 of August, I was not in a very good financial position. So what I wanted to do was I just wanted to create what's called a minimum base premium that was coming out monthly. I was just trying to put some fuel in my policy system because I knew. You can see here where it says.

They just call this. It's just additional premium. It's just a fancy acronym. Now, it says zero, but it doesn't mean that it wasn't an option. It's an optional premium. You can see right up here, it says I could put in annually, an additional. I could put it in monthly, but the total amount that I could put in annual additional Premium would be $6,129 in this example. Right, Jingen?

Got it. Yes.

At this time, I put nothing in the policy, just the base premium from August to March. Okay, so now if we look, I have a starting death benefit on this policy. This happens to be on my wife's life of $250,000. That's the starting death benefit. Now, Jinghen, we know that every single day, the life insured ages. What happens to the cash value that builds in the policy?

The cash value has to grow every single day as we age, as we go in towards age 100. And that is because the insurance company has to fulfill their contractual guarant, which.

Is the cash value and death benefit have to match by age 100. Right?

Perfect. Yes.

Awesome. So if we're building this policy, every year, we receive a dividend. What's going to happen to my death benefit when that dividend shows up?

Jinghen has to increase as well.

Yeah, it's going to grow because we're going to structure it to do that. We are going to structure it so that the dividends are rolled right back into the policy to build what's called paid up additional death benefit. Now, Jingen, if I take this additional premium here that I do not have to put in, whose decision is it to put this premium in?

You, as a policy owner makes all the decision. You have the total and absolute control of this policy.

Well, because who owns the contract?

You are.

I'm the owner. The life insurance company is merely on the hook to administer everything. So in that equation, do I have the risk or do they have the risk?

I guess they have all the risk. All you need to do is put your premiums in.

That's my obligation. My obligation is put the premium in. Their obligation is to make sure everything else happens. Paying death benefits, creating a profit, cash flowing, death benefit match, page 100, putting in the reserve requirements, all of that. Right. Okay, now here's the deal that I want to really point out, Canada is what happened was I came into a windfall of cash in the beginning of 2019. I had all the money ready to go for that trip and I was like, oh, thank the higher power of your choice that I can take my kids on this trip and they're not going to hate me, right? So, you know, a lot of pressure as a parent because you want to please your kids and you want them to have a good life. And so I had the money and I could have just spent all the money and it would have been gone forever and I would have given up all that interest that we pointed out earlier and I would have had to work real hard to get that money piled back up again and probably feeling bad or I could have used a credit card or whatever. But what I chose to do instead, as I said, okay, I got all this money in my, in the commercial bank right now. What I'm going to do is I'm going to think long range and I'm going to not be afraid to capitalize and I want to do something for the next generation so that they can keep this train going and have a windfall of cash that's going to come in when my lovely wife passes away. Long into the future, a death benefit is going to pay out so that my kids get a windfall of money. And Jingen, when that, when that death benefit comes to the next generation, what are they going to do with the money? Are they just going to spend it and have fun or what are they going to do?

They better put into the system again so that they can use it for their rest of their life and also their next generations to come.

Oh, brilliant. So they could take that windfall, that death benefit and spend it all, or they could backfill their own policies. Because I'm going to be using their policies until the day I die. I'm going to use capital from their policies and they're gonna, when I pass away, they're gonna have big policy loans outstanding potentially on their own policies that they'll then take over. They can take that death benefit and they can backfill their own policies, repay all their policy loans, start new policies on their lives, their kids and their grandkids at that time. So we create a multi generational wealth effect here. So instead of just spending the money, I'm gonna show you Canada how we can put the capital into our policy system. This is not a savings account, but it is a savings tool. Okay? And it's important to know that this process takes time. But I'm going to show you how we can immediately access capital without interrupting the growth. I put more in in the early years that I'm able to access out, but I know that I can put it in, create more death benefit and then access capital without interrupting the growth to use it in my real life. And the capital just keeps on growing every day. And then eventually there's going to be more cash in this policy than I put in and my deposits will never catch the cash value. It's actuarially not possible the way that these are engineered. Okay, so what I'm going to show you right now, just so that everybody can see, unfortunately, what we can't see jingen on this statement is we can't see what's called guaranteed cash value that's piling up every day toward this total by my wife's age 100. But what we can see is if we go down here to where it says policy values, you can see that right now the total death benefit is still just 250,000. Right? Because I haven't hit the first year anniversary, we haven't received any dividends, and I haven't put any extra cash capital into the policy. And so at this time, this is March 11, 2019. There's no extra cash in the policy. There's no loan availability. There's nothing going on really in the policy. So let's see what happens if I fast Forward Jingen to March 14th. Excuse me. So we started at March 11th, and now we're at March 19th, 2019. So I scroll down, you can see that what started to happen here is this cash value, this loan availability is there because of the guaranteed cash value that's growing and accumulating in the policy. And in some cases, you have to have a certain amount of cash available before you can access a loan. So the guaranteed cash value is growing already every day. Now we're at March 20th. You see that? I'm just going to go a little bit quicker here so that we can get to where we want to show you. Now, what happened, Jingen? What's different?

Oh, wow. You get a lot more loan available and your death benefit has increased as well.

Yeah. So let me show you candidate exactly what's happening here with these numbers. First things first. Again, no dividends have been received because I'm still in the middle of our first year. It's not until August that we hit our first year dividend. So here's my $6129 I deposited into the policy as premium. And you can see right here, this says Paid up additions. ADO just stands for accelerator Deposit option or additional deposit. Doesn't matter, it's just premium. But this is what I did is I took my cash and I put it into the policy and that deposit actually purchased $29,422.03 of new death benefit. Paid up death benefit on my wife's life. So that means, God forbid she becomes an angel. Jen, Jen, are we getting a lot more out of the policy than what we put in?

Oh, a lot more, absolutely.

So the death benefit's no longer 250. The death benefit's almost 280. Just because I made this one decision and now the policy is working harder, isn't it, Gingen? Because the death benefit has expanded in the window of time, is shrinking. So they have to accelerate the cash value growth in order to stay on track. Because it's actually well broken down. Do you see right here, it says cash value? That's the cash value from this pile of death benefit. This $5,221.97 is literally chasing this number. By my wife's age, 100. Every day that she ages, this cash value is going to go up. Is that pretty simple so far, Jingen?

Yes.

Okay, great. Well, then what happens? If we have cash value, that means we have access to what's called policy loans. Now, in most cases, we have access to 90%.

Okay, from the insurance company. They are contractually bound to lend us up to 90% of the total cash value. Now, the Reason why this number is higher than this number is because. Remember, we have guaranteed cash value piling up every day too. That we can't see. Right? Guaranteed. The cash value is. Once the death benefit's applied, like right here, this cash value becomes guaranteed as well. But what I mean by guaranteed cash value is the cash value that's accumulating on this pool of death benefit. Right, Jinghen? Okay, okay. Good. So now we have more loan availability right here. Now, is this enough, Jingen, to take my $5,000 trip for my family?

Yes. It's more than enough now.

And it's less than what I put in. Isn't it? Because I'm also still putting in my monthly premium? And do I care, Jingen?

I guess not. Because you never lose that money. That money just continue to grow in your system.

And I'm in the early years of capitalization. That's how it works. 4, 5, 6, 7, 8, 10 years of capitalization. In most cases, we usually get to what we call the break even point around year seven. But depending on how much I capitalize, meaning break even Canada. What I mean by that is that I've put in X amount of premium, and I've got the same amount of cash value or a little bit more cash value. It might take five to seven years, it might take a little longer. It depends on how old you are, how young you are, your health status, male, female, how well you're capitalizing the policy. The more I capitalize, the harder it's going to work. So this is just what we could do at the time. And I recognize that thinking long range is what we wanted to do. Okay, great. So now we have. We're on March. March 20th of 2019, and we have a policy loan available. $5,317.80. Now let's see what happens if we fast Forward. This is May 16th. We went on the trip in March of 2019. So this is May 16th of 2019. After we had already returned. There's my principal loan balance. I took $5,000 out because I didn't have to take it all. I just took what we needed. Right, Jingen? I took what we budgeted, and that's the policy loan outstanding. Now look at the amount of interest. Oh gosh. Everyone gets so concerned about interest, don't they, Jingjin? I had this loan outstanding for over a month, and a whopping $22 of interest has a piled up now, Jingjin, When I pay this interest back, by the way, where is it going to show up? Isn't it going to show up here so I can borrow it again? Am I losing that interest ever?

Well, that interest pays to the insurance company. If you are owned by a mutual life insurance company, then that means that you're a co owner of company. You also share their profits. So it might come back to you as a form of dividend.

Oh, this is really good. We're do some live coaching here. Jingen, are you ready?

Yes. Sorry. Yeah.

No, no, it's okay. You're absolutely correct. The interest will go to the insurance company and they're going to that's going to become an income stream that's flowing into what's called the participating account. And that participating account, even at a stock company, we get to benefit from the profits that are generated from the participating account. At a stock company, we're just not benefiting from things like term insurance or group benefits or disability insurance. It's the stockholders that benefit from that type of profit that's generated. So they benefit from all the different product lines. We don't have a stock company. We just benefit from the profits that are generated in the participating account. However, to your point, at a mutual insurance company, that's where one of the added bonuses of dealing with a mutual company, we're benefiting from all of the product lines and that is all flowing into the participating account. However, the interest that we pay is just one of the income streams that's flowing into the insurance company that's going to help build the profitability of the insurance company. So just by paying interest to a company we co own, we get to benefit from that flow of the interest through dividends. But this is a commonly unknown thing because oftentimes I say to my clients, I say, look, if I borrow $5,000 out of the policy, my balance is $5,000 plus right now there's $22 of interest that's accumulated. So if I wanted to wipe the loan out entirely, I'd actually pay back $5,022. Yes. But what's really important to recognize is that I don't just get access to the 5000. I will get access to the 5022. I'll get access to all of it. The reason for that is because now I'm just going to use a generic number here. Okay, Jingen, let's imagine my cash values were growing every day by $10. So that was my loan availability. Because every day I age, that loan availability is going to go up, which I'll point out in a moment. Well, what happens is if I borrow A loan, and let's say the simple interest rate on that loan is $1 a day. Okay? So I have access to 10, but the interest is 1. Here's what the insurance company does. All they do is the interest is kind of pile up at $1 a day. So they're going to give me access to $9 a day instead of 10. So they're just going to give me access to the net amount of accessible cash value over and above the interest that I'm paying on the policy loan. So that's why when I pay back the loan, I can re access all that interest because it actually forms a part of the 90% of the cash value that I would have had access to in the first place. This is what allows them to not interrupt the growth. I'm not withdrawing anything. This is what ensures that the interest gets paid because it's actually being kind of taken off the top and they're prepaying it basically. And I'm just going to pay it back. And when I pay it back, I get to access all of it again. Isn't that good?

Is awesome.

Okay, great. So I'm not concerned one iota about the interest in my Gingin because I know that I'm going to get every single penny back that I fund flow back to the policy. So here's my loan balance with the interest. If I go back to March 20, my loan availability was 5,317. Right. But then when I accessed my loan, I borrowed 5,000. So there should have been only 5,317. There should have been only $317 left behind. But what happened to the loan availability.

Increased? Because what happened, Time went by, right?

Absolutely, yes.

We're literally creating extra capital that we can access simply because my wife is aging. Ladies, would you like to get paid for aging?

Okay. We're just having some fun. Okay. I hope that's all right with everybody. All right, so now, Jingen, what I want to show you is just a little snapshot of why on earth I would have done this. Why would I, quote, unquote, give up some of that immediate liquidity? I want to access all my money right now. Well, if I spend all my money right now, Canada, and I don't think long range, I'm robbing from future Vern and future wife. I don't, I don't know if my wife wants me sharing her name on here. So my future, my. My older wife down the road and my kids and my grandkids that haven't come yet and the next generation after that. I'm thinking about all of that right now. These statements, these. These values. You can see same policy date, right this the starting date right here, 2018. But now we're closer to what's going on the current date here. This is April 20th. Now, what I've done is I've actually changed. If you'll notice down here, things have changed a little bit because I can change the premium structure to annual premium anytime I want. That's why the numbers have been modified a little bit. But this is the total or the maximum premium that can go into the policy. Just shy of $10,000 per year, it's still the exact same policy. I just changed the premium structure. You can see right here, it says annual now. It used to say monthly. Okay, so that's the goal. You can start monthly and change it annual to annual. Now, what I've done is. First of all, Jingen.

What'S happened to that death benefit didn't I started?

That's amazing. This is just a few short years. God forbid something happens to my wife. A heck of a lot more is coming out than what we put in. But think about what this is going to do for the next generation and for us while we're alive because of the cash that's growing that I'm about to show you now. This says because now keep in mind, Jingen, haven't we received a dividend in 2019 because we started the policy in 2018. So August 2019, August 2020, and August 2021, and now August of 2022, when that shows up, we'll receive an even larger dividend that will purchase more death benefits. So the dividends that were paid into the policy, this isn't the dividends, guys. This is important to know. That's not the dividend, but that's the cash value that's been generated by the death benefit that the dividends created. Do you see that? It says paid up additions. So these paid up additions, $20,176.19 was the death benefit that was purchased by the dividends we received in 2019, 2020 and 2021. Is that pretty clear, Jinghen?

Now, keep in mind, Gang, I'm still capitalizing. So, Jingen, do you remember that when I first capitalized the policy Back in 2019, I purchased $29,000 worth of new death benefit, but now I've purchased 111,000 because I keep capitalizing it right? And what happened to that cash value number? Well, it's just chasing this and it's accelerating because time is shrinking. The window of time is shrinking so that daily cash growth is accelerating. So hopefully that's really clear to everybody, just showing you how the tool works. But more importantly, it's how do we use it for banking. Oh, by the way, I should say something, Jingen, where do people go if they want to learn more about the process of becoming your own banker?

Please go to watchibc.com where you can learn a lot more about this process called becoming your own banker and also purchase the book.

Yeah, you get Nelson's book. Jingen, when you got Nelson's book, could you put it down?

I've been reading it many, many times.

Yeah, over and over. One reading won't do the job. But I'll tell you, a lot of people say, oh, I don't have time to read. I promise you, you dig a little bit into that book and you will get inspired and you won't be able to put it down. Okay, Awesome. I continued to capitalize the policy. I continue to use the policy for things that I need in my life. This is just a snapshot of where we were at a couple of days ago. From the time of this recording, I had a current loan availability of 4,000. You can see the interest rate changed a little bit and it doesn't matter. I wish they'd keep it higher, but that's okay. I have a loan availability as of a couple of days ago of $4,368.69 and I have a loan outstanding of 20, almost 26,000 and I've got a little interest there. Now the reason why that loan is so big, Jingen, is because what I was doing is capitalizing this policy and I actually used this.

As a part of.

Recapturing the debt on my Ford F150. So I continued to capitalize for many years. I had a vehicle loan at the time. In 2019, I actually had a vehicle loan. Well, in the previous I've expanded my system up to 11 policies. Back then I think I had six. So I've expanded my system. I've continued to capitalize. I've used it for many other things like paying annual home and auto insurance premiums, property taxes, things that I got to use cash for anyway. All the while cash value building balance of truck coming down. I access a massive loan. I pay off truck and now I've paid back a lot of because I had to pay. I think it was.

Over 33,000. So I got most of it from this policy. I maxed out the loan from this policy, and I got a little bit of cash from another policy. And I've been being a responsible banker. Right, Jingen? I'm paying back my policy loan because I was going to send it to Ford F150 anyway. Right? So again, now, this is what's important, Jingen. Take a look at this number. Okay? Here's what matters. Canada. Imagine this for a second. It isn't. But imagine this was my savings account balance.

As of a couple of days ago, I had access to $4,368.69. Let's see what happens. Because my lovely wife got one day older. Do you see that?

That says first 4375.25.

Yeah. Now, keep in mind, Jingen, this is. If we look at the interest, this is net.

The growth there, or what I can access is net of interest. So if I go, you guys can do the math, right? I don't really care to do that right now, but it's somewhere around seven bucks a day that I can access just because she got older. But if we look at the interest, it's about almost three bucks a day. So my actual growth engine that I could access would be whatever this interest amount number is growing by and whatever my loan availability is growing by, because I know when I pay this back, it's all going to show up here. But is my daily accessible growth larger than my interest?

Oh, absolutely.

So I'm net positive. I'm borrowing money, and I'm accessing more net positive than what I am paying in interest. Just by doing what? Changing the process. Yeah. Yes. And look at this, Gingen, again, talk about a responsible banker. We're on the 21st, right? Look at the loan balance and look at the accessible loan. Okay, Canada, this one and this one. So this is what I'm paying back, and this is what I can access. Okay, now watch what happens. We're at the 21st, right?

22Nd.

Principal goes down and loan available goes up.

So what did I do? I made a loan repayment back to my own policy. And I'm storing it in a private system that I own and I control. And I can go back and access this whenever I want. And all this is going to do, whether I like it or not, is increase every day. Boo hoo. Boo hoo. Burn. Sad. No, I'm kidding. I love it. Was that awesome, Jingen, or what? Was that pretty illuminating, do you think? Canada got a ton of value out of that?

Thank you so much to share with us, your family banking system. How do you utilize this? And we learned that you started from one policy to fund your vacation, Vegas vacation, and you actually use it multiple times for different things in your life. So this policy system is not just for vacation. It could be for anything that we need. We have the needs for financing.

Absolutely. Absolutely. This is so good. Yeah. So Jingen, thanks so much for your support in this video. Just a quick reminder for everybody. All we have to do to create wealth for our family is change the process. We can make the banking function work for us. I shared in that video, Jingen. As I said, I used it for other things, as you said rather well, that Ford F150 cash, $600 a month. I was sending it away. I actually increased my payment. I send it all back to my family because I know I get use and control over that capital. And it's working for a company where I actually get to benefit from the growth in that company. So do you want to pump money into the system, into someone else's bank, or do you want to pump it into a system where you get to benefit? It's just energy. So harness the energy. That's the important thing. But what you need to do is you need to go to watchibc.com so you can learn more about the process of becoming your own banker. The Infinite Banking Concept in Canada. Grab a copy of R. Nelson Nash's book and don't be shy. Get in touch with us, leave a comment or reach out to infoescendentfinancial CA if you've got questions about the process. We're more than happy to help. So until next time, thanks so much, Jingen. All the best, Canada. Take care.