THIS Will Help You Eliminate Debt FAST!

That's what happens with a lot of Canadians is, hey, you know, as long as money's flowing in and I'm making my payments, they don't actually recognize that there's a problem. When you deposit money, that would be an asset for you. Well, if you deposit money in someone else's bank, it's an asset for you, but it's a liability for them. But if you borrow money from them, it's a liability for you and an asset for them. So everything that we call an asset, a bank calls a liability, and everything that we call a liability, they call an asset. Like that almost sounds like a conflict of interest. We're actually doing business that way. If I have a policy loan outstanding within my policy system, a private loan that I own and I control, it creates a stream of payments coming back to my system, so it's an asset rather than having it at a commercial bank where it's a liability and money's flowing away from me.

So we have a debt recapture. Example case study of our chiropractor client here. So the client's objectives, $420,000 of debt that was going to take 21 years to get rid of. This individual was 47 years old, a chiropractor was, with $420,000 of consumer debt, including a mortgage, and 15 total debts. Now, his banking system was going to be started by capitalizing $20,000 per year. Now, it's important to know how much we're going to capitalize. And sometimes people say, hey, how do we determine how much we should capitalize? As much as you can. Well, okay, well, let's get specific. Okay. The patients that would come in to his chiropractic clinic were $50 per patient. So we have two patients a day would be a no show, and there'd be two or one or two patients each day that would walk in. So that's $100 per day. Now, he worked approximately 200 working days. And so the question is, okay, well, would $100 per day or two patients per day, would that break your business? Well, the answer is no. Just like I mentioned earlier with my client, I said, Hey, $17 a day, is that going to break the family bank? Is that going to leave you short every month? So start asking yourself those questions. Start examining your Starbucks bills and your Tim Hortons and whatnot, and just start thinking about that. If things are tight, start looking at where money's flowing to and start thinking, hey, can I set 5? Can I set 10? Can I set $20 aside per day to create this banking system. So that's what he did is set $100 per day aside so that he would have his $20,000 of premium. Now this was set aside moving forward each year because he actually didn't have the $20,000 he needed to start his policy system. So what he did was he actually accessed money through a private loan to kickstart his policy just to get the policy deposited and some immediate cash value growth and some immediate access to capital. Because there's nothing wrong with depositing monthly premiums into a policy because we can deposit premium monthly, annually or a combination of both, but the policy is going to perform optimally, most optimal if we deposit annual premium one time per year because money is worth the most right now. So if the insurance company gets all of that capital upfront, the policy is going to work just a little bit harder. But again, I've started policies monthly. If I have to start monthly, it's not a reason not to get started. Now again, it's important for us to know anything that we want to do. Implementing this process is some clear, specific objectives and we might have some longer term objectives. Hey, I want to pay off my mortgage. But the beautiful thing about this process is just because my objectives way out there and it's going to take me a few years to capitalize, I can actually start accessing policy values and doing things today. So we can get started immediately to enhance what you're already doing today. Now, his objectives were simple. I wanted to become debt free. However, I want to do it without working any harder. I want to do it without taking any additional risk or changing my current cash flow. So that's what we already just established and laid out. He wanted to do it without losing control over his money or leaving his family in debt if the unthinkable were to happen. So let's dive into the solution and see what we're able to achieve. Debt recapture using the process of becoming your own banker. The infinite banking concept in Canada. Now we have an idea, we have to get a plan and then we're going to put that plan into action. We need to implement the idea because the ideas are great, but if we don't take any action, it's pretty useless to us. So here we go. So we're going to dive into the chiropractor and see what this chiropractor did. Now I'm going to do a different screen share here. So, so this is what I'm talking about folks, when I say that there's a lot of moving parts here you can see that. You can only see a tiny little piece of this spreadsheet that we put into a PDF. So I'm just going to slowly slide over. I'm going to show you what's happening. We have the months here that are passing by time, right? We're actually showing the policy deposit amount. So in his case, it's going to be a deposit of $20,000 per year. Okay. Now we're also able to access policy loans out of the system immediately. By how we structure the policies, he's going to be able to access a policy loan within the very first month of the contract of approximately $11,200. Now I'm going to scroll over and I'm going to come back to this separate checking account shortly. Okay, I'm going to scroll over, I'm going to show you. You can see all of our debts right here. They're being counted. Debt number one. Debt number two. It actually shows Home Depot. It shows the current balance of the debt and the existing payment that he's already doing. So we're going to. We put a lot of time and effort and energy into creating this type of a plan for somebody. So it's important for us to really gather the appropriate details so that we can build this correctly because we need to, if we follow the process, we need to make sure we're dealing with a clear situation. So again, debt number three has a lot of debts now. He has good cash flow. And that's what happens with a lot Canadians is, hey, you know, as long as money's flowing in and I'm making my payments, they don't actually recognize that there's a problem. Now you're here today because you recognize that there's a problem. But if anything gets interrupted in life, this becomes a major problem if he loses his ability to earn an income, et cetera, and so on. So by controlling the banking function, we're not only creating wealth and sending more money back to our family, but we're able to have more control over unforeseen circumstances. So it's just something to think about. So you can see debt number four or five all the way through. So he's got TD Bank. This one here is a private loan that he had to his chiropractic practice, so that was included in the debt. So we have up to number nine, he has so many debts that we had to actually go to a second page here. Let me just get rid of some of these annotations. We have to actually go To a second page. If I slide down page number two, you can see that we have debt number nine, 10, 11 through 15. And an important debt that I want to point out of all this. You can see this one, it says private loan. It's actually $30,000. It's not $20,000. So he actually took a little bit more money on that private loan. He took 10,000 and applied it to some other small debts and got rid of those right away. So this $30,000 private loan is actually how he kick started his policy and paid the annual premium. And that's why he was Putting aside that $100 per day for the next 200 days or the 200 days of work, so that he could capitalize his annual premium next year. Okay, when we do the debt recapture here, we're going to be crushing all the debt, including that private loan. Now let me just walk you through and show you what we're actually doing here. So first things first, as I mentioned earlier, this is the start here. And he decided to capitalize his policy using that private loan with a $20,000 annual premium. We are immediately able to to access a policy loan from the system of $11,200. Now we take that policy loan and what we're going to do is we're going to immediately eliminate debt number one. Because the balance is only $2,650, we are able to eliminate debt number two. Right. How many can we get rid of? We're able to eliminate debt number three. And you can see on debt number four, we're able to create a little dent on debt number four as well, which had a slight impact on the minimum payment that's required. So now we've got three debts and a little bit built up. Now we want to be a responsible banker and we want to implement this process without interrupting our cash flow. So what are we going to do with the cash flow that's freed up? You can see that here's the balance. Now the balances are all wiped out of these specific loans, but the payments are no longer required. This is the payment that was going to those debts. So the payment is now zero on each of these debts. Well, what he's going to do is that brings me back to this separate segregated account right here. Now, it's important that we don't commingle our policy loan values or our debt recapture values that we're planning to use to recapture this debt with our existing income. So we coached him to create a separate side account. Now, keep in mind, this is his banking system and what was best for this individual. Are we coaching and saying every person has to create a side account or is there different ways to go about this? Yes, of course. This is just illustrating what this individual did for his specific debt recapture example. And he wanted primary objective, eliminate debt as quickly as possible. And we're going to see how he did that using some of his own cash. But he enhanced it all by changing the process. Because remember, becoming your own banker is not a product, it is a process. So the policy system is helping him to enhance what he's meant to achieve here. And we're going to recap all that as we go. But I wanted to make sure that you were clear that we have this segregated account that's going into and being piled up. Now if we add up all those payments that he saved, we come up with $665 per month that he's setting aside. He hasn't changed his cash flow, he's just setting it aside. Now if for any reason, at any point, this money's piling up, if life were to happen because he's changing the process, he's not just taking that money and immediately applying it to debts and permanently transferring it away. It is piling up there. It's there available for him to use if he needed to for any other reason. If he interrupt his plan, he just delays it a little bit and pushes it out a little further. He can do that. That's what's possible when we're becoming our own banker. If we took all that money right away and put it immediately on those debts, yeah, it's bringing the debt balances down. But if you run into a problem and you need access to capital, where are you going to get that from? Right back in the debt cycle. So that's what happens to people as well as is. Even when you're practicing these, you know, buzzwords, these small snowball things and all that kind of stuff we do, there's nothing wrong with any of that, but we're just changing the process and showing you what's possible and how we create more control. Now you can see over here at month eight, his monthly deposit in his segregated account takes a big jump. Well, what happened there? So if we scroll back over, we see the red zero here, that's the balance. And we have the payment is zero because no more payment is due. So just by virtue of making his regular monthly payment to this specific debt, to the Wallace practice, he was able to eliminate the balance and bring it down to zero. So what he did. Again, being responsible. It was a set payment that he was already making. And then he added that to his, his monthly payments that were going into his segregated account. Now, keep in mind, cash value is rising every single day. So let's scroll down and time is going by anyway, as we often say to people. Just like Henry was talking about is, you know, it takes time to build up the policy values. But as I see it, time is going to go by anyway. We can't really do anything about that, so that's going to be our best advantage. Now, you can see here if we look, this is month 13, policy year number two. He set aside his $100 a day and he was able to pile up his $20,000 for his annual premium. Now, keep in mind what he's not doing in this equation, he's not actually servicing the policy loan, he's leaving the policy loan and letting it accrue. He has control over that. He's not replenishing the policy loans yet, but he's not really stealing the P's because something to keep in mind is he's obviously putting this cash aside. So he's practicing the concept. But the other thing is he has a specific plan in place, which I'll expand on in a moment or in a little while here, of how he's going to pay back the loan. So even if I'm not paying back my policy loans right away, as long as I have a plan in mind, as long as I have the intention and I fulfill on that intention, I'm still not stealing the piece because I get to control the repayment schedule. Just want to point that out. Now you can see we're creating momentum in our banking system because in the beginning he deposited that capital, he was able to access 11,200 immediately. And because the cash flow is growing every day and time is going by and his death benefit's expanding and all of those factors working for us, he deposits his 20 and he's immediately able to access just over 17,500. So if we do what Nelson would call some simple third grade arithmetic, what we're going to do is we're going to add up.

The amount that he had in his segregated account along with what he has in his policy values for a loan availability. And now we can see that he's actually able to access just shy of 31,000 via policy loan and from his segregated account. Now keep in mind, again, he is using some of his own cash that he's built up to eliminate those debts. But he had a lot of debt in this. This was a big problem for him. And he really, really wanted to get out of debt. So what he's going to do is we're now going to go and we're going to apply that debt or the policy loan and that extra capital to some other debts here. Now let's see which ones we're able to eliminate. I scroll down, you can see that because he had 31,000 and this is the balances.

Of those debts. We apply it to each of these debts and then we get rid of a few more debts and we do some damage on debt number nine. Okay. And keep in mind he's still making his monthly required payments to each of those debts. Now, again, being a responsible banker, look at the payments that we are freeing up now. This was his situation and he was already making these payments. And guess what? He had to make the payments. Somebody else was in control. And it's interesting, it's all about our mindset. You know, I find sometimes where if we need a car, maybe we couldn't afford a car today, but somehow all of a sudden we need a car, we'll go finance that vehicle, try to keep the payment as low as we can, whatever, and we find a way, somehow, somehow we find a way to make that payment to someone. El Canadians are really good at paying someone else first. We have to take that same mindset and we have to make ourselves a priority. Because as soon as this person now who is implementing the process becomes the banker, there's nobody who's going to bang on his door and say, hey, you need to put that money back in your policy or hey, you need to put that in your segregated account. We have to have commitment and discipline. We're here to coach you and give good guidance and we are responsible to you as your coach, but we're not responsible for you. It's going to be completely up to you to be the one who is going to be the disciplined one to do what we need to do to fulfill on our objective. So here's the payment. Now, obviously you can see those zeros and this one is significantly dropped. So now from every the damage that we're able to do in year one and what we're able to accomplish in year two, look at our payment now, what's happening at the beginning of year two because we're able to eliminate all of those payments. So he dramatically increased, basically doubled, plus his monthly contributions to that segregated account. And then at the end of the year, we have to go to Page two. Now, you can see that he's piling up a lot of cash here. We're at the beginning of year number three. Now, again, look at the momentum. Keep in mind, folks, he is not capitalizing or making any loan repayments at all. He deposits his 20,000 and then his immediate policy loan that he's able to Access in year three, month 25 is going to be $18,235. And we just go ahead and add that to our segregated account. And now we're able to access almost 62,000. And keep in mind, this is. It blows me away. All of this capital was already always flowing away. Scheduled for the next 21 years is what it was going to take for him to be continuing to work hard and send all that money away. So just think for yourself as I'm going through this, what your situation is and what it could look like just by getting some good coaching, educating yourself and changing the process. So we have here.

We'Re able to get rid of debt number nine because these balances were coming down because he was still being responsible and paying his minimum. So he had a balance of $12,000 to start. I should have done that before I crossed it out. So same thing. You can see number 10 with Scotiabank. You can see where his balance was at the time, just by virtue of responsibly doing what he had to do with his payments every month. And then now. So he's taking this. Oh, I should do this actually right here. Look at that. So he was able to eliminate all of these other debts. These are now gone. So he freed up all of that additional income to be able to redirect to his policy segregated account.

And he continues to complete the process for lack of better terms. So here we are. Now, that's all those payments that I showed you there. We're now adding those to the segregated account. Again, being extremely disciplined with this because he was committed and that's what it takes. But really it's not that. That's why I say it's not really that much commitment because he already committed to all these other obligations. Now he just has to redirect the money, take that same program and take that same mentality into what, whatever you're doing today.

Now we're already down here to debt number year number four. And again, we know how quickly four years goes by, like it's already gone. So this is nothing. So here's capitalization in year four policy gaining a lot of momentum. He's almost able to access 100% of what he put in by a policy loan. And I'm sure if he were servicing that loan, he would be able to access way more than what he put in. So now we have our $19,000 plus almost $70,000, which seems like a lot of money, but again, it's money or capital that would have flowed away from him anyway because he was already making all these payments. So now if we add that together, we now have 88,000, just north of 88,000 that he could put into.

The next debts. So see that he was able to. Let's see what debt we have here. Yeah, so he has this debt here and.

He does a big amount of damage on that debt. So now he's going to continue to make that payment of that debt. So you can see that his payment that he's putting into his account is gone up because he was basically renegotiating his payments and whatnot. So he continues to add that to his segregated account by the end of the next year. This is a very interesting thing that I want to point out. Now, this is important. Okay? Again, we always talk about how we want to make sure we get the policy properly structured, which again, it's not just any old whole life policy we can use, not any company. So God bless all the life insurance advisors out there doing really good work. You want to make sure you're working with somebody who is an authorized infinite banking practitioner through the Nelson Nash Institute, somebody who can actually show you their policy system and what they've been able to achieve. Okay? That just like everybody on our team, we all have policies, we all practice the concept, we can all share stories, not only of our clients, but ourselves, and we can actually show you what we've been able to achieve with our policy system. Now you'll notice that something happened.

This is why I said all that. Something happened to his fifth year premium. Every policy that we design is going to have what we call a minimum or a base or a required premium to go into the policy. They're all going to look differently depending on your situation. But there's a base premium that must go into the policy. It's required. And then there's additional or a maximum premium that can go into the policy. It's all just premium. It all builds cash value. It all builds death benefit. It just does it sort of in different ways. Okay? Now his minimum policy premium for this policy happened to be $8,000 per year. And it's completely up to him or the owner, I should say, what they do with their Premium. He decided at this time to reduce his premium because he achieved what we refer to as live steam. You see, he reduced his premium to the minimum required premium. But look at his policy loan that he can access. It's now larger than what he deposited. So what he did there was he decided at this time.

To actually start policy number two. I stole this from Sarblo. He says, hey, money grows on branches, right? What do banks do? Banks, Any neighborhood that you drive in Canada, that's breaking ground. The very first thing you're going to see pop up is a Scotia or a TD or an rbc. You're going to see a bank show up there. You're going to see a McDonald's, you're going to see all these, a Home Depot. They know that if they create more branches, it creates more captive customers, it creates more deposits, thus it creates more profit. Our banking system is no different. That's why I have 11 policies today. As my income increases and I eliminate liabilities and I come into windfalls of capital, I need a home for that capital. So I'm going to go ahead and store it in my own private banking system. So he wanted to accelerate his system and accelerate what he was able to achieve. So he went ahead and deposited his premium and reduced it. That was his decision. Not saying that that's what you need to do or want to do or what have you. Now you can see he has now two policy loans and almost the same as policy number one. He is just shy of $11,200,000 that he was able to access and just north of $9,300 from policy number one. Plus he has.

$71,305 that he piled up into his side account. And if we add all that up, we're now just shy of $92,000, right? And then what he does is he takes his mortgage balance and he does some serious damage on that mortgage balance and brings it down again. Just by changing the process, you can see that he's continuing to put this capital into the segregated account. But then what happened? Just by virtue of following the process.

Within 57 months, he was able to access capital from that segregated account.

And use it to completely wipe out his mortgage balance, freeing up even more Capital. So 57 months, we actually crushed $420,000 worth of debt. But we're not finished yet. We're not dead. So you can see that he's continuing to put that money into his side account, and then he piles up capital by the end of the year and he's going to continue to capitalize his policy system, and it happens to show kind of what's happening here. Again, policy loan. Now, this is where he could, if he wanted to, take advantage of some opportunities or do other things, he's freed up all this cash flow, so he's got funds available, he's got additional capital that he can do things with. So I think that was pretty darn good. Now, what I'm going to do is I'm going to come back to my other screen share debt recapture summary. Well, all of the debts, as I mentioned, were paid off in 57 months rather than 252 months. So almost 200 months early. That's a lot of time. 21 years worth of payments flowing back to the family. Now, the total dollars, the total premium dollars that were put into his policy system were $108,000. The total policy loans that he accessed from his system were $86,480. Those were all applied to that $420,000 of debt. And the debt that he recaptured was $420,000. And when we say recapturing the debt, what we'.

When you deposit money, that would be an asset for you. Well, if you deposit money in someone else's bank, it's an asset for you, but it's a liability for them. But if you borrow money from them, it's a liability for you and an asset for them. So everything that we call an asset, a bank calls a liability, and everything that we call a liability, they call an asset. Like that almost sounds like a conflict of interest. We're actually doing business that way day in and day out. And it's absurd. Doesn't have to be that way. And when we say recapture, I actually want to own the debt. I want that debt to reside within my policy system. In fact, I had this conversation with one of my clients just yesterday. He said to me, oh, Vern, yeah, I'm just replenishing my policy loan before I go back and access my next loan. And I got to explain to him, I said, hey, you know what's great about this is when opportunities track you down, we want to find ways to reverse the flow of your money. He accessed the policy loan for $10,000 and used it as a down payment for a vehicle. And then he's making vehicle payments and he's building up his policy, and we're going to pay off that vehicle in two years instead of five. Right. But in the meantime, he was piling up his policy loan values are increasing every day. And he's replenishing his policy loan on a schedule. He's paying $200 biweekly going back to his policy loan. And it's so funny because there's so many moving parts here, as you learn. Keep in mind this gentleman's in his first year of his system. He didn't actually realize that he doesn't actually have to complete the loan repayment cycle. He doesn't have to pay back his whole entire policy loan before he can go back and access more capital, like this chiropractor was doing. And when I shared that with him, his eyes kind of lit up because he had like $9,300 that was sitting there. And him and I had a conversation, and I found out that he was paying $350 a month for property taxes and $350 a month approximately for his home and auto insurance. Well, you got to pay home and auto insurance, and you got to pay property taxes. You can do it monthly, you can do it annually, and it can come from your own cash or it can come from your policy system. So I showed him, I said, why don't we just call your home and auto insurance company and call the town and switch your home and auto and your property taxes to annual and you can access a policy loan from your system and free up an additional $700. Would that be good? If I have a policy loan outstanding within my policy system, a private loan that I own and I control, it creates a stream of payments coming back to my system, so it's an asset rather than having it at a commercial bank where it's a liability and money's flowing away from me. So that's why what we mean by debt recapture, we actually want to recapture that debt, so we recapture those payments. Now let's summarize the interest that was capitalized. Remember, he was not servicing the policy loans. He was just letting that policy loan value increase. So there's daily interest that accumulates. We're going to get all that interest, be able to access all of that again, but we're going to just let that build up. So 17,141. His policy loan interest was 7.5%. It's now 6.2. So if we add the 86,000, which was the 86,480, which was the loans that he borrowed, plus the interest that is accumulated, we're going to get 103,621 is what is the total loan outstanding? And then what do we do? We followed the process and we freed up $7,640 per month that was flowing away. That's beginning in month 57. And now he can redirect 100% of that capital right back to his policy system to replenish the policy loan. So not only do we crush all of that consumer debt in 57 months, he paid back the entire policy loan. Plus that daily growth is continuing to happen. So he has the full 103,621 accessible, plus what grew every single day because his cash value is growing uninterrupted. So within 70 months, he was not only able to eliminate all of that third party debt, he was able to fully replenish the policy loan. And just imagine all of the other things that he can now accomplish because he has ready access to capital and he's able to take advantage of opportunities that will certainly track him down. So let's do do a little bit of a recap. First question is, did the chiropractor achieve or accomplish his objective by paying off the family debt? Absolutely. Did the chiropractor work any harder? Not at all. He continued to do what he was already doing. He just changed the process. Did the chiro ever lose control over his money? Not at all. That's exactly what I was referring to about that segregated account. Yes, he could have put that on the debts, but you know, then he's given up some control. He's sending that money to someone else's bank and it's gone forever. He was putting that money in the side account, so he maintained access to that control over that. Did the chiropractor take any additional risk? Absolutely not. In fact, I think he mitigated his risk in a lot of ways because he added life insurance benefits and grew cash value every day. So we're actually managing risk even better. Did the chiropractor ever change his cash flow? We just went through the whole thing. Absolutely not. He just changed where he was depositing it and the process. Well, what changed? It was the process. All that changed in this whole thing is the process. And we can do the same type of results by doing what we're already doing, but just shifting the process. We're not making a dramatic change to what we're already doing today. This becoming your own banker is not different than what you're already doing. We're just changing the process, just adding a layer now. Everything is easy when you know the how. Everything is easy when you know the how. We've already established the problem and we walked through the process and we saw some results. But how do we get started? What do we do? Don't do this alone. Make sure you text the word schedule to 780-809-4599, and you'll get in touch with one of our teammates to reserve a date and time that you can have a becoming your own banker call to create some clarity. And you probably would have already received a link. So that's 780-809-4599. Text the word schedule.