Watch This Before Getting Your Kids A Canadian RESP!

This is a product that is going to be with the child. It's going to say, I love you more than words. It's not never going to need batteries. It's never going to end up in a toy graveyard somewhere. It's never going to be too small. This is a product that's going to be with the child for the rest of his or her lifetime.

Now let's think for a moment about our kids and our grandkids and perhaps future great grandchildren. How do most people go about saving money for children's education? Now you're setting money aside in this tool called a Registered Education Savings Plan. And what are we doing? We're only doing what we know. Now, what we know represents what you see in this circle.

What we know we don't know represents what you see in this outer circle. And what we don't know, we don't know represents that rest of the world of knowledge that's out there. And what's interesting is that when we talk to parents or we talk to grandparents and we have this conversation about saving for things like a child's education, the Registered Education Savings Plan is instantly the product that comes up. We want to look at putting policies in place on children not only to achieve the objective, which is to have enough money available for future education, but to also have capital available that's going to be there for the rest of that child's lifetime, for all their future cars, property, business equipment, business opportunities, real estate investing, etc. This is a product that is going to be with the child. It's going to say I love you more than words. It's never going to need batteries. It's never going to end up in a toy graveyard somewhere. It's never going to be too small. This is a product that's going to be with the child for the rest of his or her lifetime. We can finance daycare expenses, finance sports and recreational activities. We can pay off family debt, build family wealth, finance family vacations, finance gadgets, private tuitions, et cetera, college, university expense, build wealth beyond college or university. There's no expiry on premium deposits or the use of the policy. We can even finance cars and future retirement income. The list goes on and on and on. If you can do that with all of these things, is there anything that you can't do it with? The answer is no.

We can do college or university education and still achieve the objective. But I'd like to say that the policy has all the advantages of a Registered Education Savings Plan, but none of Its disadvantages. Right. We know that inside the resp, you get a continuing education savings grant, maximum of what does that work out to? 7,200 bucks, I think over the life of the contributions to the resp. Well, what if we got guaranteed cash value accumulation every single day for the rest of that child's lifetime? Would that be an advantage or a disadvantage? And what if we had total and absolute control over the institution that the child decides to go and get an education from? There's no government bureaucrat, nobody stepping in and saying, here's what you can and can't do. The policy owner is in a position of total and absolute control. And if you think of the registered education savings plan, when the money piles up, the whole objective is to get the money out of the plan for education. So that's just one element. That's just one area that you're going to need the use of money for, the need for financing, because when you pay cash, you're working with borrowed money. So we want to create the tool that enables the child to not only get the education, but to be able to implement the process for the remainder of their lifetime. There's no restriction on what a policy, via the process of becoming your own banker, can be used for. And it's limited, really, to the extent of your imagination. That's why Nelson named it the infinite banking concept. Because it's important, possible to define boundaries and to place boundaries around infinite. Now, I want to talk to you about something that's very, very special, near and dear to the hearts of so many clients of ours and to myself and to all of my teammates. And that's the family bank. Now, we've been taught to be divisive in the family. You may have heard this at some point throughout your lifetime. You know, one day you're going to. You're going to move out of the home, you're going to start your own family, you're going to have your own bills, you're going to have your own mortgage. And then you'll really understand what things are like financially, what that responsibility is. The wealthy don't talk that way. The wealthy talk about circling the wagons and keeping the money in the family. We want to change the flow. Because when you grow up, when you move out of the home, when you have all this financial responsibility, it's all going to involve transferring money away from you. If we can keep that money in the family, then we have more capital available to be able to afford the things that we need to purchase. And think about this we meet with and talk with grandparents all the time who say, well, look, I don't have any debt. We've paid off all of our debt. And we ask, well, what about your children? Are they driving cars that aren't paid for and living in properties that are mortgaged, carrying around wallets and purses that have credit cards and revolving debt? The answer is yes. Well, who do you want those payments going to? Who do you want that financial energy being transferred to? Do you want it being transferred to you so that you can use that capital and then replenish the family bank when you die? Or would you rather just have that money continue to flow away from the family? Well, the answer is obvious. We want that money coming back. This is the process in which you go about doing that. Now, this was our last family reunion, and this is Billy. And Billy is no longer invited to any family reunion because you can see how quickly things got out of hand right before we started talking about family banking. This picture that you see here is a photograph of our annual family banking meeting. And all of our kids and all of my nieces, nephews, et cetera, they all have policies on their lives. Everybody that you see in this picture is insured many times over. And at this particular family banking meeting, we talked about how to keep the money in the family, something that we reinforce every single time. The family banking meeting takes about an hour and a half to complete. And in this particular meeting, my son Jackson, my oldest son, he was recognized for paying off a policy loan. Now, in this particular picture, my son was 11. So at 11 years old, he's already using language like keep the money in the family. I paid off a policy loan. I'm really proud of myself. I'm ready to access another policy loan. He's 13 years young and has paid off a number of policy loans. This is why it's so advantageous for kids to learn a new language at such an early age, because children have a much higher degree of neuroplasticity than adults do. I'll share with you as well. This young fellow right here, my nephew Evan, he just initiated a policy loan recently to buy a computer monitor. It's a $400 ticket and he's going to pay off that policy loan over the course of nine months, he earns about 300 bucks a month. At 13 years young, doing part time work, and he understands the importance of keeping the money in the family. In fact, in our last boot camp, we had Evan come on to the boot camp and he shared his experience with Everybody, this young lad here, my nephew Ethan, is 16 years young. He just purchased a $3,000 car by taking a loan from the family banking system. He understands that he has to make payments. Everything that he pays back to the money pool of the family is re accessible by him. He knows that the interest rate on that loan is 10% and it's not subject to negotiation because he gets to reuse everything that he repays. Isn't that good? And then this gentleman that you see here in the back row, this is papa. And.

When papa retired from the edmonton police service after 35 years in public service, we sat down, we talked and I said, hey, papa, I want to take out a policy on your life and be able to add more capital to the family's money pool. And he said, well, I don't think I'm insurable, I'm a type 2 diabetic. And I said, well, why don't we find out? And so we found out and he was insurable. And so we took out two policies on his life. I paid the premium so papa didn't come out of pocket one penny. And what I shared with him is that, papa, here's what we're going to do. I get to use the policies in the family money pool while you're alive. Heaven forbid, if anything happened to you, Nona, your wife nona will never have another bad financial day for the rest of her lifetime. And all that I want in return is to be reimbursed for the premiums that I pay. And we're going to use a portion of the death benefit to put policies in place on all nine of your grandkids as a legacy from papa. And he said, great, let's do it. Sadly, In September of 2020, my father in law passed away after a very, very short battle with a very aggressive cancer. He was diagnosed on day one and less than five weeks later he was gone. And we fulfilled his legacy. And I'll never forget being with him at the hospice and having. It was about three days before he passed and we had a conversation, lasted a few hours. And I talked to him and reassured him that we were going to honor his legacy and that we were going to make sure that nona was well taken care of. And that's what we did. And so the reason I share this with everybody is that this is not just about all of the advantages that it represents to you while you're still alive. When you pass away, people who love you and care for you are going to be mourning your loss. And if we have an abundance, a tax free windfall of money that shows up exactly when it's needed the most, then not only can you replenish the family's money pool, but you can also create a legacy, a legacy that is everlasting because we're transferring this knowledge to all of the children and the expectation is that they're going to transfer it to their children and so on. I'll share something with all of you that in our family. So when our children reach the age where they could actually own policies that we've already put into place, each one of my kids have five policies on their lives already. So when they're of age and they're conceptual enough and they understand that they can take over ownership of these policies, we're going to offer the opportunity for them to buy the policies from mom and dad. The purchase price is all the premium that we paid because this is an asset that has real value. We're not just going to hand it over to the children. We're going to give them an opportunity to buy them. Now the other thing that we're going to do is that our kids are going to sit down with our family attorney. So this is not a discussion that's going to happen with Rebecca and I as their parents. They're going to sit down with the family attorney and the family attorney is going to say, so Rick is going to sit down with them and say, here's what your parents have put into place. You've been utilizing this from a very early age. So you're very familiar with the concept. You're very familiar with the fact that there's a pool of money and that there are many life insurance contracts that are accumulating money in the pool. Your parents are going to give you an opportunity to either a, continue to shop at home for all of the things that you need throughout your lifetime. And when you access loans from the family money pool, you're going to repay the money pool at an interest rate of 10%. And that rate is not subject to negotiation. When your parents pass away, you'll be reimbursed for everything that you've ever paid into the money pool. Now, option B is that you can do business with outside banks. And if you choose to do that, your parents will characterize that as stealing from the family money pool. And your parents don't do business with thieves. So take all the time that you need to decide which option is best for you. And we're going to give our children the opportunity to opt out of the family money pool. If they choose to do that, we're not going to force it it upon them. But the attorney is going to explain very clearly that if you choose to opt out, then what will happen when your parents pass away is that their death benefits will be assigned to charities of their choosing and the policies that they own on your life will also have the death benefits assigned irrevocably to charities of their choosing. So you either use it or you lose it. Those are your options. And so we know our children have already indicated that they're going to continue to use the family money pool for the rest of their lifetime. Now, over the course of an entire lifetime, I want you to think of all the money that leaves your family money for things like mortgages, investments, cars, property, weddings, taxes, tuition, business loans, insurance, personal expenses, business expenses, recreational vehicles, vacations, sports, hobbies. Add up all the money that you've earned and spent up to this point in your lifetime on all of those things and so much more. And let me ask you this question. Could you write me a check for that amount of money right now? The answer, of course, is no. So have the banking process work for you rather than working against you. Now, you don't have to get a policy or a system of policies from us. There are lots of great people out there that you can work with. But please don't try to do this alone. Households and business owners who do this all have a good coach. And I recommend getting a coach. Now, naturally, I am going to recommend my team. We believe that we are the very best at this in Canada, bar none. And if Nelson were alive today, he would echo that.

Now think about your favorite athlete. Think about folks who have really achieved a very high level of top performance in their profession. They all have a good coach. This is Ryan Nugent Hopkins of the Edmonton Oilers. Awesome guy. And this was captured at the Cystic Fibrosis event where Ryan is an honorary chairman. And we are proud to be a big part of that event and to be able to network with so many great players in the National Hockey League. All great athletes, all great achievers have a good coach. So if you want to be great at the practice of this process, then you need to have a good coach. And we would wholeheartedly recommend that you choose to work with us. Now, when you choose who you're going to work with, here are some things to think about. You've got to be careful about the life carrier that you put your policies with to ensure that your policies are designed properly. Most people who are selling you life insurance don't have expertise in this area. So make sure that you work with somebody who specializes in the process of becoming your own banker. Now you should choose someone who is an authorized Infinite Banking practitioner with the Nelson Nash Institute. Now, all of our advisors, with the exception of our newest teammates, who are still in their period of being mentored and apprenticing, all of our advisors are authorized with the Nelson Nash Institute and in great standing. Now here's what that means. They've been through a curriculum. They've been through a course of study. They have also been through a mentoring period. And with our team, that mentoring period is a minimum of one year and they can demonstrate that they are actually practicing this process in their own lives. I would much rather work with somebody who can demonstrate to me what they're putting into their own money pool and how they're utilizing this process in their own life. The reason you should do this in your life now is because you deserve the outcome. Now, the longer you wait, the more you penalize yourself. The real questions are what's the cost of doing nothing at all? What's the cost of just one more year of all your money leaving your family or your business permanently? What's the cost of giving up all the interest that your money could have otherwise earned? Schedule your call with us. It's included with this webinar. So here's a quick recap. The difference between you getting stressed or staying relaxed financially is who controls the banking function in your life. Truth number two is that you don't have to put your money in prison for decades and rely on someone else to achieve the financial abundance that you deserve today. And truth number three is that you don't have to be rich to become your own banker. We have clients that put in as little as 100 bucks a month for policies on their children. We have clients that put in multi six figures per month. If you're somewhere in between those two numbers, you can do this too and we can help you get underway. Now you might be thinking, okay, Jason Verne, Sarblock the process looks awesome, but how will I know if this will work for me? Schedule your becoming your own banker call. Click the link that you received or text the word schedule to 780-809-4599 and reserve a day and time that works best for you. And remember, if you attend that call, you will get a copy of R. Nelson Nash's book Becoming youg Own Banker, a 92 page read. It'll take you an afternoon to get through it. And he wrote the book for you. He didn't write it for me, for Verne or for Sarblo. He wrote the book for you.