Where You Can SAFELY Store Your Wealth

You know, one cliche that we always hear is that it's not about how much you make, it's about how much you keep. It is important that not just working hard for our money, but also be smart with our money and be a good steward of the money that we earn. So during my research I find out a system called.

Hello, my name is jingjian Fang from Ascendant Financial. It's so good to meet you here again. Today I am going to talk about why we were traditionally wanting to put our money into different places and why is a great idea to put them all in one place. Now I really wanted to share this is also share a little bit journey about how I get to my way searching and finding out, becoming your own banker. The infinite banking concept. Now when I started my financial education journey is important because you know, one cliche that we always hear is that it's not about how much you make, it's about how much you keep. Right? It is important that not just working hard for our money, but also be smart with our money and be a good steward of the money that we earn. So during my research I find out a system called giss. It's called giving, Investing, saving and spending. So which means that every month when we have money coming into our family, we immediately divide it into four different big streams. Now the first one is giving or donating, which means that we will designate a jar, prioritize our income to give it back to our community, give it back to God, give it back to your church or your charities. So that is giving part that we will always prioritize to put that money away. Now the rest of the three jars are called investing, saving and spending. Right? Because we wanted to designate some money to be saved for rainy days and some money maybe to invest. Maybe we will get that investment with some kind of return and goes back to our stream of incomes and then divided again to our system. So let me quickly show that. So when we have our money coming in every month, we will put our money into giving, investing, saving and spending. We prioritize a percentage of our income coming in every month to the giving or donation jar. Which means that we want it to be giving back to our society, giving back to our church and make this money in good use. Now the rest of the three jars are investing, saving and spending, even though a lot of money has probably go to the spending jar. But we wanted to save ourselves a certain percentage to save for a rainy day as an emergency fund, right? Nowadays when we put our money in a Saving, which really means that we want that money to be very, very safe. There is a difference between investing and saving. Because the money that we save, we don't want to lose the principal. Even though the money may not grow as much, especially in the current interest rate environment. Our money are not really growing and maybe it's losing its purchasing power due to infl. But saving is really a place that we do not want you to risk. We do not ever wanted to lose the principles that we saved. So it's literally like putting our money in a jar that is not really growing for us too much, but we need that money to save there just for in case of emergency. And when we need money investing investing jar is interesting for us as adult. We know that we cannot put our money in a jar to invest it. We have to put our money into some kind of investment vehicle. Right now a lot of people thinking about RSP or stock or crypto or even real estate investing. So we have to put our money into some kind of vehicle and let this investment generate a so called rate of return, right? Hopefully that rate of return will generate more money back to our family system and then we can have more money divided into our four areas of spending. The difference between investing, the cliche that we often hear is that you have to take a risk to invest, right? You have to take a risk to be able to gain money. Lower risk means lower end. The high risk means higher return. But is that true? Right? So investing really means that maybe we will not be able to get our principal back. That is investing. Because we really give away our money to someone else or some other vehicle so that our money can be making some money with that hope and getting back. There's a lot of different topics regarding investing, so that's a different topic. But you can watch, go to watchibc.com we have a lot of different videos regarding on that topic. When I introduce this GISS system to my young children, I often tell them when you designate your monies in these four areas, what would happen to the spending which might be the biggest jar in this case. And then I usually I draw a little bottom here saying that because whatever you put into spending jar, what happened to that money, that money is gone, right? You cannot get any money back when you spend that money. For every dollar that you spend, that money is gone system forever. So to teach our kids to be more mindful and be better steward of the money, often this is what we teach them. But think about in our adult life, how much money that that Comes in every month are designated to spending. Think about we have to pay our rent or pay for our mortgage, we have to pay for our car, we have paid for our living expense expenses like groceries or some food and shelter, you know, clothing and basic entertainment. So we have actually a lot of money goes in there. Think about the ratio. For every dollar that comes into your system every month, how much do you put it into saving, how much are you putting it into investing and how much you need it for spending. Most of the people focus is on what is the rate of return on the investment that I'm putting. But really how much money can designated to put in there and how much money is gone from your system today. What I really want you to like to think about is that we are taught to make our money decisive. We were told to put our money in different jars. I know that a lot of people, for example, using the envelope solutions, people would actually designate different jars from the saving. For example, they will have a jar for education, they will have a jar for retirement. A jar may before Disney fund to save money for their travel expenses in a different jar. So we were told to put our money and save our money into different jars. But is it efficient? Because money in the jars are not really growing for us. Money in the jars like money in a checking account, we're basically not earning anything. So today what I wanted to let you think about the process of becoming your own banker or infinite banking concept is really about for this money that stayed in our family, instead of putting them into three different jars or even more jars, can we put them into one place where our money can continue to grow every single day? We never lose this money. We don't lose the access of this money. However, our money can grow for us. This graph is from Caleb Gwilliam and Jason Lowe's book the End Asset for Canadians. If you haven't got a chance to read this book, please click the link below and purchase the book. We also have an interview with Jason Low and Caleb Williams on this topic called the An Asset webinar. You can also click from this link here and access to that webinar. So in that webinar or in that topic in that book, we talk about really setting up all your money in one place. Can you imagine if you have your money coming into your system where you can put all your money into a master account, put everything in one place so that you can a lifelong compounding growth of your money while at the same time you can still access your money for different jars of your life. So Please go to watchibc.com to learn more about this great concept that had changed so many people's lives, including myself. Now that I put all my money into one place so I never lose the excess of my money. And you can still designate different jars from this master account that will continue to compound an uninterrupted growth for the rest of our life. And at the same time you can still access it for investment, for your emergency saving and for your spending some of those spending money. You can also re access and reuse that money again. If you wanted to find out more about how you can also build a master account that all your money can put in one place and you can still have access to that money, please watch more our video here. You can also go to the link below to watch a webinar about this and asset webinar from Jason Low and Caleb William to find out more. Please stay tuned and learn more about this wonderful process. Read the book Becoming youg Own Banker by R. Nelson Nash. Thank you and until next time.