You Don't Have To be Rich To Own Your Bank!

If you're new to the process of becoming a banker, the infinite banking concept, if this is your first time, well, congratulations for being here. Welcome to our community. So we're going to start with some basic foundation of becoming a banker because there's going to be few folks who are existing clients who are attending the webinar, but there'll be some folks who for who. This process is brand new. So we're going to build foundation so that once we get into case study, towards the end, everybody is going to be able to clearly understand the case study. But foundation is important. Now there's two principles that we're going to talk about today. One is called the recapture interest. Now again, if you're not familiar with the word recapture interest, you will be familiar with that word by end of my talk. Recapture interest creates a financial tailwind and you'll see and understand the importance of it in your life, personally, corporately, financially. And the other thing we talk about is control on motion of money. So these are two principles which is basically key in becoming a banker, implementing the infinite banking concept. So we'll definitely talk about these two principles. Then we talk about case study. Now case study is about how you can enhance the work or your, your method or your way towards becoming retirement ready just by changing the process of how you are presently paying the living expenses that you have. You're going to pay for those living expenses anyways. But how just by changing the process, you're not just able to accomplish the objective of paying for that property tax, that family vacation, kids, education, whatever living expenses you have, you'll be able to pay for all that, but you will work towards becoming in a stronger position of retirement ready. And it's all going to be based on the first two principles that I talk about, Recapture interest and motion of money. And then towards the end, we're going to have some Q and A. So again, we've been doing this for many, many years and let's just say we've heard a lot of frequently asked questions that have come up. So when I design or when my team designs a presentation, we incorporate all frequently asked questions in a presentation. So just rest be assured your questions will get answered as we flow through the presentation. But if something specific that you want to talk about, please either put that in the Q and A section or just write it down and we'll capture that question towards the end. And then there's no webinar is complete without action steps. We can talk about some key action steps. I'm just going to hide the zoom bar. So. All right, Key action steps to build a bigger, better financial future for yourself. All right, now, one thing I want to use as a caution is, so watching this webinar or watching this video, if you're joining us live on YouTube, watching it just once just may not be enough. So this webinar is going to live on YouTube, and it's going to be available 24 7, 365. I would encourage you all to go watch it again. And not just this webinar. There's so much of the content that we have on the YouTube channel. So I would encourage you to go watch and explore our YouTube channel. And while you're out on the YouTube channels, if you're joining us on the YouTube channel, just hit the subscribe button, because we do a lot of content, and you certainly don't want to miss that notification. All right, so the only two things that you have to do today to make this next 90 minutes the best use of your time, because that's the outcome that I'm looking to get accomplished, is to make this next 90 minutes the best use of your time. So there's two things you got to do. One is participate, and the other is just watch this webinar till the end. That's it. That's all you got to do. All right. I always start my talk by. By sharing this message, which is so near and dear to me. And I can't thank Nelson enough for his coaching and mentorship. So Nelson always starts his seminars by saying, everything begins with the way that you think think. So if you haven't read Nelson's book titled becoming your own banker, you have an opportunity today. And if someone would ask me what one message you took away from reading Nelson's book is, and I said, importance of thinking and actually setting aside time for some thinking called thinking time. So everything begins with the way that you think. So let's start today's session with emphasizing on thinking. All right, now, I'm gonna also say this. And when I read this, it was just so powerful. And the message is, in preparing for battle, I've always found that plans are useless, but planning is indispensable. So since we are on the theme of plan, if I may ask everybody to share in the chat, if you feel comfortable, what is your plan to make 2024 better than 2023? So let's get some interaction in the chat, and then, Sukhman, if I may ask you to just chime in and share what's coming up in the chat. So the question is simple. What is your plan to make 2024 better than 2023?

Remember what I said about chat energy. So it's energy. So flow some energy into the chat so that I'm energized to share more great things with you guys going forward. So again, put that in the chat. Regarding what is the plan to make 2024 better than 2023? Now I want to say this so whenever, when I meet with a prospect client, and not just me, it's all my colleagues. Because as a team, you know, we have a fantastic team here at SN Financial. As a team, we see probably two to three thousand new people every year. So as a team, one of the things that we always ask is, hey, how can we add value to what you want to get accomplished financially? So what is your plan to make the next year or years better than what it is today? And most people would say, whether it be the business owners, investors. So I'm just using some mixed response. They would say I want to increase, increase my business revenue by 20%. If they're business owner. That's one of the things that may say and 20 may be different. It may be 5%, maybe 10%. I'm just using an example. Some business owners may say to me, I want to reduce my operating costs by 10%. I want to pay off my debt by eliminating car debt. I want to pay down my debt. That's debt is one of the most common responses that we get. I want to increase my passive income. You know, next year I want to be able to generate $2,000 per month as passive income. This is pretty awesome. You know, some would say I wanted to spend more time with family. And I would say, well, one of the things that you can do is read this book. It's called the Family Board Meeting. So if you haven't read this book, you got an opportunity today also. So you know, implementing the family board meeting. And if real estate investors would say something regarding I want more properties, I want more doors, you know, let's just say they want to buy two multifamily properties. So when I say, what's your plan to make your life better financially so that you can do the things that you want to do? These are the common responses and they're more. But it's very similar to this. Now I wanted to say one thing that these are, this is not the plan. What, what you see on the screen is not the plan. What, what you may thinking about is, is actually the desired outcome that you want, hey, to make 2024 better, I need two more properties. Or to make 2024 better for my business, I just need more revenue. So what someone is describing to me is not really the plan. They're actually describing to me the outcomes that they want. Plan is the process that you need to build in order to achieve the desired outcome. And then you need to build methods around how to make sure that plan actually gets implemented in terms of action, steps, people, automation, accountability, things like that, critical drivers. So plan is the process that will get you to where you want to be. But what I just walked through when I asked this question regarding what is the plan people would only describe in terms of the desired outcome, not the plan. Right. So the process is the key word. Now, infinite banking concept is not just for rich, which is the theme. So you don't have to be rich to get into the banking business. Because infinite banking concept is all about prioritizing the flow of money. The money is going to flow no matter what. Infinite banking concept is all about prioritizing the flow of money and has nothing to do with how much money you have. What you have is what you have and you're going to flow that money anyways. So it's all about prioritizing the flow of money. You are not buying or building a bank. That's not what infinite banking is all about. We're not buying or building a bank. You are implementing a process. Remember, plan is a process. So we're going to talk about that planning of the process that is key. And two essential elements are recapturing interest and control, emotion of money. So that's the process that we're going to build so that we can enhance the desired outcome that you're looking for.

Now we're going to build this process to control the banking function as it relates to your financing needs. And before I dive into talking more about becoming a banker, I want to just set stage with, with the story that I have to share. And this story is actually pretty awesome. So I'm going to stop with the story. So any golfers in the room? Can I, can I get some interaction? I'm not able to see the chat here. So any golfer. So Dave. So Stan, you're raising your hand. So you're, you're a golfer, I presume so, yes. So we have some golfers in the room now.

Me and my brother. So. So he's my twin brother. And yes, we, we don't look alike because we're not identical twins. We're fraternal. Twins. So me and my brother, we played a lot of golf growing up. In fact, my. One of the things that I. When I was 13, that's when I started playing golf. And I actually want to be a professional golfer, but life had different plans for me. So we play a lot of golf, and for those who are not familiar with golf, well, golf has 18 holes. Each hole is. Is a different obstacle course, if you want to call that. And then whosoever scores the least in the 18 holes is actually the winner, right? So. So when we were playing golf this. This summer, I said, hey, you know what? Let's. Let's play for some stakes. Let's get some wager in there. And he said, yeah, let's do it. What are we. What are you thinking? I said, this is what I'm thinking. Every hole. So there's 18 holes. Every hole is worth 10 cents. And then we're going to double the amount for every hole going forward. So first hole is 10 cents, which means the second hole will be worth 20 cents, the third will be worth 40 cents, and so on and so forth. And he said, yeah, you're on. Game on. Let's do it. I said, perfect. Now, I purposely.

Let him win the first 16 holes, and then by the time he reached 16th hole, he was literally driving the ball just like this because he was a little overconfident. And he's like, I got this. I've won 16 holes. I got 2 more holes to go, but I won the last 2 holes. So I let him win the first 16 holes, but I won the last 2holes. And then. So here's the scorecard. So I lost 1, 2, 3, 4, 5, 6, 7, all the way to 16. And I won the last two, number 17 and 18. And he said, okay, what's. What's the tally? I said, well, you won 16, I won two. And then his question is, how much money do you owe me, sir? Blow. So I won more holds than you. I said, so although you won 16, but I only want two holes, but you owe me $13,000. And he said, what kind of math is this? I want 16. You only want to. How do I owe you 13,000. It should be the other way around. And this is exactly how you felt. So I said, okay, let's. Let's do some tally, right? So I said, the first toll is worth 10 cents, second is 20 cents, third is 40 cents, fourth is 80 cents, and then so on and so forth. So I lost the first 16 holes. So you can see how much money I lost. If you add all that money, that's how much I lost. So just to tally that total holds, lost 16. Total money loss 6,553. I said, are you okay with the math so far? He said, yeah. I said, well, I won the last two holes, so hole number 17 was worth 6,553 and hole number 18 was worth $13,000. So I. Look, I won the last two holds, so I won 19,600. I owe you 6,553. So you can just write me a check for $13,000. And he's like, wow, how did you get so smart, servlow? I said, well, I'm a banker.

I always use compounding to my advantage.

And then right after that, I asked him a golden question. I said, by the way, have you read this book? So, you know, one question that I get asked from, you know, my clients is, hey, how do we get our family into reading this book? I said, just meet them where they are at and it's going to be enough to get them into reading this book. That's exactly what I did with my brother. So at least I didn't get 13,000 from him. I didn't take that money. But I did hold them accountable to reading this book because this book has changed my life, change my colleague's life, change the life of several thousand clients that we serve. So let me ask you all this question. Have you read this book? Just type in Y for yes and end for no. And sukman, if you're there, can you just let me know what folks are typing in the chat box?

Yeah, for sure. We have answers coming in right now. A lot of yeses, which is great. And we have a few no's as well, actually.

Perfect. Well, if you. For those who've read it, that's fantastic. Maybe there's an opportunity to reread it. Reread it. Every time you reread it, you will pick up on something new. I promise you that. And for those who haven't read this book, well, you have a bigger opportunity to get a copy of this book. A text link has already been sent to you for you to get a copy. Now, based on my example, which is all about compounding, right. Let me ask you this question. Do you not believe in power of compounding? You can type in Y for yes and N for no. Now, if you believe in power of compounding, may I ask you to please let me know? Name one business that uses compounding to grow its wealth. So any business that Comes into your mind's eye. Just go ahead and put that in the chat box. Name one business that uses the power of compounding to grow its wealth. So Sukman, what are we getting from the folks?

All right, we have lending, banks, insurance companies. Let's see what else flows in here. Yeah, a lot of banks and lending. That's the two big questions.

So bank is a very typical response that we get. Whenever I ask this question, it's a very typical response. Now here's a fact. Banks actually do not use compounding to grow their own wealth. Shocking, right? When I read this, I was also shocked. So here's the fact. Banks either pay compound interest when you leave money with them on deposit, for example, gic. So when you buy gic, they'll pay you compound interest. Now when you go to the bank and you borrow money for loans, then they charge compound interest. So to grow their own wealth, they always have the money in motion. But for them to actually have the compounding working for them, then the money has to sit still. Because the only way that you can earn compound interest on compound interest, if the money is set still and then you earn compound interest on compound interest. While banks either pay compound interest or charge compound interest, but to grow their own wealth, their money is always in motion. Money that's not in motion isn't worth anything. If you just go to a local bank today and you say, hey, how much money do you actually have in the bank? And they say, well the only money that we have is actually the money in the tail. Everything else is out there working for us via loans. So very same institution that says, hey, keep your money, sit still, let leave your money with us and earn compound interest because it's the best thing before the slice of bread. The same institute itself is not using those principles. So either they know something that you don't and they're really getting rich every single time, what do you think it is? Right? So again, everything begins with how we think. Money that's not in motion isn't worth anything. And value of money is always in in what it can purchase, goods, services, etc. The value of money is not in number of zeros behind the digit. That's the fact.

Now let's talk about what are the things that you are using money to buy today. And I just use this to make a teaching point. So you have a mortgage payment, you have a car payment, you have lines of credit, credit cards to pay. You may be buying appliances, or you already may have appliances which you purchase via loan and you're making those payments. You're, you may be remodeling your house, you may have looking to buy furniture, upgrade any furniture, tv, things like that. You're paying for vacation, you're paying for clothes, you're paying for property tax, food, boat payments, health care plans, investments, medication, charitable causes, Cairo physio, emergency funds. So you got a list of things that's happening every month. And to buy all that, you need money. So you're always exchanging money, right? Now all of these things that you purchase are actually financed, right? You're either paying interest to someone else. AKA if you have a mortgage, you have a car loan, then you, you borrowed that money, so you're paying the loan back, which means you're paying principal and interest on the loan. So you're paying interest, that's financing. Or you're giving up the interest that you could have earned. So when you pay cash for things, you give up the opportunity for that money to earn interest for you. And it's not just one time that you're giving up that opportunity. Once that money is gone, it's not going to work for you for rest of your time on planet Earth. So you use your cash, you lose interest, you use Bank's money, you pay interest. Well, the third method is going to be the infinite banking concept. And this method has nothing to do with losing interest or paying interest. This method is all based on the principles of recapturing interest. And it'll be clear to you once we go through this session today together. Now here's something else to think about. So when you use your cash, you lose interest. Who got all the money? Someone else did. Once their cash is gone, someone else has that money, not you anymore. You did all the work to earn it, that's a fact. But someone else got it. Now, when you use Bank's money, you pay interest. In the end, who got all the money? Well, bank did. You didn't keep any of that money. While the infinite banking concept is a principle based on recapturing interest. And when you implement the process of recapturing interest, the keyword main, meaning the process of recapturing the interest, you get to keep all of your money for yourself and for your family for generations to come. Either ways, you're going to use the money to accomplish the objective anyways. But the third way will still get you the objective accomplished, but it'll keep all the money in the family and it'll push you ahead financially. Because the principles behind recapturing interest will create a financial tailwind Losing interest and paying interest, you're not going to create a financial tailwind on those transactions. So recapturing interest also creates a financial tailwind. You're going to see how I'm going to conceptually demonstrate to you the power of recapturing interest. And this is straight from Nelson's book. So Nelson says, let's understand what is happening. When we know what is happening, then we know what to do because we know what the problem is, right? So Nelson says, okay, let's see what is happening to a family and let's consider the annual pattern of spending, right? So family has a car payment. About 20% of every dollar that the family earns goes towards car payments, right? Because usually typically there's a couple of cars the family has which are not between husband, wife, maybe children, which they owe debt on, right? So 20% for every dollar they earn goes towards car payments. A family may have a mortgage payment. And 30% of every dollar that the family earns goes towards mortgage payment. And they have living expenses. 40% goes towards food, clothes, title, vacation, property taxes, insurance, etc. More money goes towards living expenses than housing and auto. And that's the fact. And you can just look at your own situation right now. But they're saving, you know, they're saving 10% of every dollar that they earn. And saving is a good habit because the more we have saved, the more we can use towards making any financial progress. But savings we can invest, correct? Now the green bars are the total payment, right? So total auto payment, total mortgage payment and total l expense payment. Right? Then. Now you may be wondering, well, I'm paying cash, I'm not making a payment, it's a cash, right? Well, when you transfer money via cash, it's a payment into to someone else's system or bank for the exchange of goods and services. There's always a payment. In fact, saving is also a means of payment. You just don't consider saving money as a payment. When you set money aside every month, you're setting aside every month, that's a payment that you making. It's a principle about paying yourself first, but it's a payment that you have to make. Every transaction that you have is a payment. That's a fact.

Now the red bars represent the interest volume. So the 5% is not the rate of interest on car. 5% represents for every dollar that you earn, 5% of that is leaving the family on interest payment for that car loan. For every dollar you earn, 25% of the dollar is leaving the family on the interest on the mortgage for every dollar you earn, maybe 5% of the dollar is going towards living expenses, the credit card debt lines, your credit boat payments, etc. Now when you add up all the red bars together, which is basically the interest volume, the dollar amount in interest that you're paying, not the rate of interest, when you add up all those red bars together it becomes about 35%. So basically for every dollar you're earning, 35% or 35 cents is interest payment. That's basically what Nelson is teaching us in this example right now. 10 saving is, is a good habit, right? So think about this. Saving is a good habit. So 10%. So for every dollar you earn you're setting aside 10% for savings. So that's one step forward in towards financial progress. But you're giving up 35% of every dollar in your interest payments. So you're actually taking back three and a half steps backwards. So you take one step forward and you go backwards three and a half steps. That is what is happening in this transaction. Now the other thing it's important to recognize is you know, we all think about investments and rate of return. So if I take this savings which is 10 and I go invest, it doesn't matter where I invested and let's say I get a hundred percent rate of return. So 100 rate of return will take my savings from 10 to 20. Correct. Is 20% still less than 35% in interest payments?

You bet it is. And this is where Nelson says that we can't get a better rate of return investing into anything without first controlling how we go about financing the things that we need in life. And that's what we're here today to talk about. How you can make better decisions with the implementation of a process to finance the things that you need in life so that it's actually working in your favor, not against you right now. To demonstrate the whole essence of recapture interest, let's use this example. So I'm going to build this off what I just described. So let's presume we are in Calgary. So Calgary is on the south of Alberta and then we have to fly to Edmonton. Edmonton is on the north side of Alberta and we have to get there. So we hop on a plane, we are in Calgary, we're going to fly to Edmonton. So Calgary basically represents where we are today financially, right? That's what it is. It's where we stand financially. And Edmonton is our financial destination where we want to be financially right now when we get, when we are in the plane and we go up in the air. The, the aeroplane speed is 100 miles per hour which is basically the 10 saving. Right? So we go towards a destination based on 10 saving. In this case it's 100 miles per hour. But what's. Once we go up in the air we are now faced with a headwind of 350 miles per hour which is that interest volume of 35%. So if you're flying to Edmonton in this environment, you can put that, put this in the chat if you like. Are we going to get to our destination? Is this the environment? If you continue to fly in this environment, are we going to get to our destination? Well if you're flying at 100 miles, we got a headwind of 350. We are negative 250. We are certainly not going to get to Edmonton. We probably end up in Mexico which is going to be great for vacation. But financially speaking it's not the position that we want to be in. We never want to go backwards. Right. So, so if we are. So the process of becoming a banker is all about recapturing interest. But presently what's happening is you're working towards a headwind where there's high interest volume than what you're able to earn. And in an environment like this you're not going to get ahead financially and this is an environment of pay interest. Now what if the environment changes when we're still in Calgary? So we haven't changed where we are financially and we want to head to Edmonton which is a financial destination and we're still flying at 100 miles per hour. So we're not working any harder. We're just flying at the speed that we want to fly at which means we're saving at the speed that we are able to save at. Now if there is no headwind and we're flying at 100 miles per hour, we walk destination but at the speed of 100 miles per hour which basically represents the speed at which you can save money. And if life happens, if sickness happens, sickness happens, you lose a job, whatever happens, which means our savings are going to be compromised. And if our ability to save money is compromised, then our ability to make progress is also compromised. We will get to a destination but the, the ability that we have to save money and I call this losing interest because for every dollar you spend on buying the things that you want to buy, whether it's cash or digital dollar, you're not going to own any interest on it. So it's losing interest. Now what if we have the recapture interest. What? What if we have the financial tailwind where the interest on the things that we financing are actually working in a favor, which means the interest is actually pushing us ahead. So we're still flying to Edmonton at 100 miles per hour, which is our saving rate. We haven't changed that. But now we're in a different environment of recapturing interest and the interest is actually working in a favor, which means the total speed now is 450 miles per hour. So now I'm going to get to a destination much quicker. Now here's something important to understand here. Now life happens and we're not able to save money, which means we compromise on that 100 miles per hour on that 10% saving. Well, that's okay because we're in an environment of recapture interest. We'll still make financial progress of 350 miles per hour.

Right?

So recapture interest is where you want to be. To have the interest on things you finance work for you versus against you or have the banking function work for you versus against you. You have to build a process again becoming a banker, the keyword, I'm going to keep repeating this today, becoming Euro banker is a process to recapture the interest on the things you finance. And to do that you have to get into the banking business. And the easiest way to become a banker is by implementing the infinite banking concept. That's the process to help us recapture interest. Now money that's not in motion isn't worth anything. I talked about that briefly. So money that's not in motion isn't worth anything. And whoever controls the motion of money accumulates wealth. So let's look at this example. So let's say this is a bank. It doesn't matter which bank it is. You can call it whatever bank, bank, abc, doesn't matter which bank. Now banks need deposits. Without our deposits they cannot do what the banks need to do, which is lending. So today in GIC, you know, we are earning between 4 and 5% interest. You can correct me if I'm wrong, but you know, I checked, it's about 4%. So I'm going to use this example. So let's say you deposited $50,000 into bank and it's earning you 4%. Now the money that you deposit in the bank or it's your money. So it's an asset to you, right? Because it's your money. But to the bank or the banker it's a liability. Your money as a deposit is a liability. And the reason why, because the bank has to pay you 4%. It's a cost. And the other thing is the bank knows that you can come and take that money out at any time. So what you call an asset, they call a liability. So bank has to make profit, so they'll start lending that money right away. Let's just say someone wants to buy a house and today the mortgage rates are 6%. So the bank now lends the money to 6%. Bank got this money from your deposits, not from anywhere else. Our deposits are what the banks use. So the bank is paying us 4% on the deposit and they're charging 6% on the loan. You can see the spread between these two transactions is 2%. So that's one thing to do, to pay attention on is the spread that the bank has on the transaction. And the other thing that you have to pay attention on bank is in business of also recapturing interest. You never saw it. So if bank is paying us 4% and they're charging 6%, didn't bank recapture the cost of paying 4% in the 6%?

So bank is also in the recapture business. They're just calling it the spread. That's what it is, right? So they are in recapture business. So recapturing interest came comes from them. We're just going to do what the banks do, right? So banks recapture interest and why don't we. So the bank spread is 2%, that's the recapture. And someone who you know is selling the house.

Sorry, someone who's buying the house gives up money to the seller and the seller will put that money right back into the bank. It doesn't matter which bank that money ends up into, it all ends up into one giant banking system under the umbrella of the central banks that we have in our country. Now someone wants to take a car loan, they go to the bank, borrow money at 7%. The person who's buying a car gives them into a dealership. Now dealership doesn't have a big huge mattress in the back where they stack all the money. They're going to put the money right back into a banking system, right? So the bank is paying 4% to the depositor, they're charging 7%. So they recapture. The spread is almost 3%.

Now we do house remodeling. So bank lends money at 8% to house remodel and we pay the contractor, contractor puts the money right back into the banking system. So out here the spread or the recapture is 4%. Now we pay off debt at 12, credit cards, things like that. And all that money ends up right back into the banking business and the spread or the recapture is 8%. Now if the bank is paying 4% and the spread on the first transaction is 2%, on the second is 30, on the fourth is 4% and on the last is 8%. So if you add up all the spreads, that's 2 plus 3 plus 4 plus 8, that's 17%. So here's a question for everybody. If the bank is earning. Sorry, if the bank is paying 4% to the depositor and all these spreads are 17%, how much extra do you think the bank is making on you? And by the way, in the middle that could be you if you wanted to. So the bank is paying 4% on deposit and the spread is 17%. So how much extra do you think the bank is making? So when do we, are we getting any responses?

Just waiting for them to come in. Now Calvin says a lot, which pretty much sums it up, I think.

And then. Yeah, yeah, absolutely, a lot. You're right, Calvin. So the bank is making 4 and 25% more than us on, on all those transactions. And they did that by recapturing interest and by keeping money in motion and also controlling the motion of that money because all that money was flowing again back to them. The motion of money was controlled from the depositor and then all the loans and all the payments coming back. So recapturing and motion all simultaneously happening at the same time. And those are two principles that we're going to talk about when it comes to creating a bigger, better retirement ready plan for you by using two principles. One is recapture interest, the other is controlling the motion of money. All right, going back to that. So if you talk about recapturing the payments on the car. Right. So I already did a webinar on this. It's on a YouTube channel. You can watch that webinar. It's on it. And then. So that's the first thing that shows up.

On this graph that we went over. Right. So we did the webinar on that to look into how we can eliminate debt or how we can pay off mortgage and recapture all the interest and control the stream of payments. Well, I did two webinars on escaping debt and then be smarter than bank to pay off the mortgage. So for both the webinars already exist for today, I'm going to focus on how to recapture living expenses. And by recapturing interest, by controlling the motion of money on the living expenses, we are going to work towards becoming retirement ready. So by recapturing Interest, controlling the motion of money on living expenses, we're going to work towards retirement. Ready? And why living expenses? Because 40% of your money is in living expenses. And the other reason why I'm talking about living expenses because I've already done the webinars on the first two, it's already on the YouTube channel. So please share in the chat and I'm going to invite everybody to do this.

Living expenses or list of living expenses that you must set aside money for every year. So what are those living expenses? So let's see what's coming up. Sukman.

All right, so we have rent, kids, education fees, mortgage, property tax. Property tax.

Yeah.

Groceries, holidays, property tax, vacation.

Lots of answers, lots of answers. Right. So I got some list here too. Food and clothing, mortgage or rent, car payments, home and car insurance, property tax, utilities and cell phone bills, Christmas and Thanksgiving, family holidays, emergency expenses, charitable givings, kids education, vetting, down payment for a house, coaching and investments. Maybe you're investing in things like RSPs, TFSA, real estate, things like that. Or you, you're investing into self growth which is investing into getting someone's coaching and obviously the last but not the least taxes. So these are the most common living expenses that we have and it's a huge list and I'm pretty sure I'm probably missing a few. Now for the purpose of today's webinar because my objective is to make a teaching point and I'm going to invite everybody to book a call at the end of the webinar so you can have a one on one discussion with the authorized Infinite Banking coach on a team to discuss how you can build your own banking system to recapture the interest of and control the flow of money on all your living expenses. So you, you will be invited to book that complimentary call. But for teaching point, I'm going to focus on few of these living expenses. So there's, I'm going to focus on home and car insurance, property tax, Christmas, family vacation, charitable givings and coaching and investment. But it doesn't matter what it is as long as you conceptually understand it. It's, it's just going to make sense. Right, perfect. So home and car insurance. So I googled, I asked Uncle Google, I said hey, how much does a family spe. Home and car insurance? And uncle Google said 2500. So I'm taking all this data from Google and then Christmas expenses, about 2500 Christmas and Thanksgiving combined. It may be less for some families, it may be more for some families. Family vacation 5,000. So every year, family spending 5,000 every year, family spending money on Christmas, home and car insurance, property tax is something that's due every year. Can't take a vacation on it. So that's $5,000. Charitable giving umbrella. Assuming that this particular family is spending $5,000 on givings, it could be less, it could be more. But I'm just using this as example and then coaching and investments, again, you could be investing into anything. And I'm just using $5,000 in this example. Right. So it, so these things combine a 25,000 per year. Now it could be 25,000, it could be 2500, it could be 20 $250,000. It doesn't matter what the amount is. Conceptually speaking, this process can, can be billed for any amount, right? All right, so total combined is $25,000. And this is what we're going to use for case study. I'm going to show you how this family can continue spending 25,000 every year like clockwork on the things that they need. But simultaneously they're going to recapture the interest. And by controlling the flow of money, they're going to come out ahead financially, not just on the transaction, but also for the future, for retirement. Ready retirement is non negotiate, non negotiable. That day is going to come when you're just not going to have energy to work and you're going to rely on some of the financial savings and investments that you have. So if all you can do is change the process of how you're going about buying these things and it's going to put you into better, stronger financial position going forward, ask yourself this question, is that process worth it? And if it is, then you're in the right webinar today. All right, so again, just. And I'm going to be repeating some things today because reputation is going to be a best practice. So we talked about use of your cash is losing interest, right? And all these things that you are paying for today, I bet most of the things are cash transactions. You're paying cash for taxes, you're paying cash for insurance, you're paying cash for vacation, you're paying cash for investments, you're paying cash for charitable givings, you're paying cash on Thanksgiving and Christmas, you're paying tax, you're paying cash. So if you're paying cash, you're losing interest. But here's the thing. You may not understand the impact of that on your future financial well being. And we're going to cover that today.

So how much interest that the GIC pay today. So I'm going to use this just as a framework. So I know we talked about in that example that you saw in terms of motion of money with the bank, I use 4%, but some GICs are at 5%. So I'm going to use 5%. And then let me know in the chat if you agree. Just putting. Yes, if you agree. But it doesn't matter five or four. I'm going to just make a big important teaching point now, and you guys need to just be 100% focus there. So let's say someone is age 30 and they save $1 into GIC and it's earning 5%, right? So they're age 30, they say $1 into GIC, it's earning 5%. Now if, if that happens, if they save that $1 in GIC and it's earning 5 percent, they will have $6. Based on that at age 65, presuming they're able to earn 5% on GIC or investments every year. So the teaching point that I'm making is if you're age 30 and you spend that $1 on anything today, the impact of $1 is not $1. It's $6 that you'll have less at retirement. It's six times.

So let's put things in perspective. Financial impact of paying cash or digital cash? And I, I corrected myself and I put digital cash because at one of my calls, I asked a prospect client a question. I said, hey, do you pay cash for things? He said, actually, I paid cash to, I gave some money to my barber three years ago, but I don't pay cash. I said, for me, paying cash is not just physical cash. It's physical cash and digital cash. And he's like, yeah, man, I paid a lot of cash. I misunderstood you. So I wanted to clarify. The cash is not just physical cash. It's also digital cash. So at age 30, if they spend $1 in anything, by the time they reach 65, they will have $6 less. That's the financial impact. If you're age 40 and you're spending $1 on anything today at age 65, you'll have $350 less. $350? Yeah. Less to spend. At age 50, if you spend $1, when you reach age 65, you'll have $2.15 less for retirement. At age 60, when you spend $1 on anything, by the time reach 65, you'll have a $30 less. And that's just using a simple example of a dollar well, let's put some heavy numbers there. Let's say if you spend 10,000 today as cash at age 65, you'll have $57,000 less. If you spend $10,000 at age 40, by the time you reach 65, you'll have 35,000 less. At age 50, if you spend $10,000 on cash, by the time you reach age 65, you'll have 21,000 less. And in age 60, if you spend 10,000 on cash, by the Time you reach 865, you'll have 13,000 less. You can see the more we spend on cash, the more we penalize ourselves in future. Now I understand we got to spend cash, we got to buy the things that we got to buy. I'm not discounting that. I'm just showing you what is also happening, the unseen behind it. And then I'm going to show you what you can do to fix this and still be able to do what you want to do so that you are in working mode towards retirement ready and still be able to do everything that you want to do. When it comes to buying all the living expenses that you need. Now, for that particular family, the expenses that we've considered, the total cost is 25,000 per year. So I'm going to put that in perspective for this family. At age 30, if they spend 25,000, they have hundred 43,000 less at retirement. And I'm just presuming 25,001 year. But they're not going to spend 25,000 for living expenses just at age 30, they're going to spend that at age 31, age 32, age 33 and all the way to late 65, it's just going to get worse. It's not going to get better.

So age 40, they spend 25,000, they'll have 87,000 less. At age 50, they spend 25,000, they'll have 53,000 less. At age 60, they spend 25,000, THEY left 32,000 less. That's the reality. Now, a picture is worth a thousand words and this is the best way to describe that transaction. Again, I'm not discounting the fact that you need to spend money. I'm just showing you the unseen.

If you weren't aware of future financial impacts. Based on the things that I have just shared, I'm here to share with you that it is not your fault because you didn't know about it. It is just not your fault. But here's a fact, it is your problem to solve. It may not be your Fault. But it is your problem to solve. And here's the best part. There is a solution. The solution exists to this problem and the solution is to build a process. Remember, the plan is all about the process, not the desired outcome. So we talked about cash transactions. We want to work towards retirement ready still be able to do what we want to do. But let's build a process which will actually work in your favor financially. And to achieve a better desired outcome, this process has to do two things for you. One, it has to recapture the interest for you, which is creating a financial tailwind. And the other thing is it needs to allow you to control over motion of flow of money. Just like the banks, just like how banks do it, right? So we're not reinventing the wheel of the process. We just discovered a tool which has all the implements of having these two principles implemented using that tool. I'm going to share with you what the tool is now implementing. The infinite banking concept. Everything. When you implement the infinite banking concept and again, everything that you do in life financially is a measure against how someone else is doing, right? If you are making progress, well compared to who, that's always compared to who. So everything that you do today financially is always a measure against how someone else is doing. That's how you know if you're making a financial progress or not. So presently this is how you are paying for living expenses. So. So first thing first is for anything that you need for living expenses, you're setting that money aside into savings account because you want the money to be there to buy the things that you need and setting aside money into savings account. Like I mentioned, it's just another way of payment. It's called paying yourself. First, you just don't call it a payment, you just don't see it as a payment. But it is a payment. Everything is our payments in life, right? So you set that money aside, savings, it's a payment. And then once you got enough money, then you take all that money and you're down to line zero. Money's gone. Objective is accomplished, we have that, but the money's gone, right? You're down to zero. And for next year you start saving, you start setting aside monies via payment in your savings account. And once you have enough money, you take all that money and you're down to line zero again, right? That's basically what transaction continues as the years go by. So you save again, you pay for things, it's down to zero and you save again. Or you pay for, you set payments aside via Savings and you use the things and money is down to zero. So for all those transactions, by the time you reach 865, it's not, it's not helping you to build a stronger retirement nest egg. It's, it's the fact, right? This is what's happening now, in contrary to. So again, there's nothing to show for that Money at age 65 right now, in contrary to that way of doing things. What if you were able to pay for living expenses this way? So I'm just building some conceptual, but I'm definitely going to get into case studies and you're going to love the case study. So this is again age 40 in this case. So let's assume they're building up pool of capital. And then once they have enough money in this pool of capital, this green line is the pool of capital, they don't have to go down to use that capital to buy the things. They avoid the downside and they're still able to use capital to buy the things that they want to buy. And their pool of capital continues to grow because they're able to buy those things via loans. So they're not withdrawing their money and coming down to zero. They're actually initiating loans. So when you initiate a loan and there's a pool of capital that you're building, it's going to continue to grow uninterrupted. It's going to compound for the rest of your time on planet, it's never going to come down, right? And if you're able to access loans on your terms, without qualifying, without income verification, that's pretty awesome. And here's the best part about these loans that I'm going to talk about. You get to pay it back exactly how you want to. So you take loans, the pool of capital still grows, and then you pay the loan back. No different than how this year you, you save money in your savings account. The conventional way to buy the things that you want to buy and then use that money and the money comes down to zero. And to make sure that the money is available next year for you to do the same transaction, you start saving that money again into the savings account. It's no different than that. You start paying back the loan so that the next year the money is available again to reuse again, because those living expenses are due every year. But see what happens in this transaction. Visually, whatever you borrowed and you were able to use it once, you pay it back, now you have bigger, more higher pool of capital that you can access versus the last Time was versus when you took a loan. So you're you paying back. And once you pay back, you're able to actually access more than what you paid back. Which means you're working towards a better, stronger financial future. And next year comes along, you take another loan and your pool of capital just continues to compound, continues to grow uninterrupted because you're using money as a loan to pay for vacation, property taxes, things like that. And to make sure that the money is available again next year to access for the same thing. You just make that payment back and you decide you have full control on the payment. So no different than how you keep making payments into savings account. So the money is available again every year to reuse. You're just doing the same thing.

And then the year after that you access money as a loan. All that wealth that you have continues to compound and then you pay it back on your terms. Now if you look at this way of doing things, by the time365, you're way more than zero, my friend. And you're still able to use all the money that you wanted to to pay for the living expenses which are due every year. Property taxes, family vacation, charitable donations, car insurance, home insurance, investments, you did all that, that but you ended up way ahead financially as compared to what I just showed you earlier. That's the infinite banking way because you get to recapture the interest and you get to control the motion of money. So here's the case study. Now this gentleman and gentleman and lady, so it's a family, so they're 46 years young and the objective is to, because they read the book, the objective is they want to do things differently. Now they already have done the things the conventional way of paying cash and borrowing money and etc and they're not working towards better, better financial future for themselves. So they said we want to do things differently. We've read the book, we understand this concept. We want to work towards retirement ready and each transaction that we have financially, we want to make sure that each transaction is actually working in a favor of versus against us. So they want to retirement ready, they want to build a system or process to recapture the interest on all major living expenses. And they like the idea of controlling the motion of money, right? So this that I described earlier, this is for that family. So we're going to focus on building a system where they can still use 25,000 every year for all these living expenses and they're still working towards better future financial retirement ready goal for them right now before I dive into case study. I just want to ask everybody a very important question. Who here believes in instant gratification and be honest. Right. So may I ask if you're getting responses on this question or what the responses are in this question?

Yeah, absolutely.

Or is there such a thing as instant gratification when it comes to finances or financial planning or. Or being ready for sure, financially going forward?

We have a resounding no. And then one of our colleagues says no, but only for instant coffee.

Yes. So if you say no to that, then you're going to love what I'm going to say. And then it's. It's a fact that anything worthwhile is. Is a process as a matter of time. Nothing is achieved overnight. Right. So here's an important question that I want to ask you. Are you worth today 77 cents an hour? Just put that. Put. Put a Y in the chat or put n in the chat. So are you worth 77 cents an hour? I know you're worth way more than that, but I'm just asking if you're worth 77 cents an hour.

So, Sukman, what are we getting? Lots of wise. Yeah, this one's easy.

Sorry, a lot of yeses.

All right, so 77 cents per hour, and they're 40 hours per week. 40 working hours per week. And let's say you only have to work 48 weeks. They're 52 weeks in a year. But let's just say we give you credit for four weeks, one month of vacation. So that leaves you with 48 weeks. So 77 cents per hour multiplied by 40 hours per week, multiplied by 48 weeks, it's 1479 per year. And let's just round it up for easy math to $1500 per year. So if you watch 77 cents per dollar, then that's basically 1500 per year. That's. That's the math. Now here's another important question to ask you. Will it bend and break your lifestyle? Are you going to be flipping tables at me? If you set aside fifteen hundred dollars and you're able to bend and break your lifestyle? And we're going to set this fifteen hundred dollars aside for bigger, better financial future.

Everyone's okay with this? Our bl.

All right, good. I need that commitment. This is good. And this is good. All right, so let's talk about the tool that we need to implement the process of becoming a banker, which can allow us to do two things. As I mentioned. Number one is recapture interest. Number two helps us control the motion of money so this tool is called Participating dividend paying whole life Insurance. Now the participating dividend paying whole life insurance has a few components. Number one, premium. Premium is your deposit. It's your what, it's what you want it to be. So I asked if Everybody is worth 77 cents an hour, which is 1500 per year. So that's going to be the deposit for this family. Because I literally asked that family the same question and their response was exactly your response. No, I can set aside fifteen hundred dollars per year. I probably spend more on coffee per year. So I'm okay intentionally putting aside 1500 per year if it's going to help me build a bigger, better financial future. So premium is your deposit. Now the other thing that the policy has, because it is a life insurance policy, that's the underlying tool that we're buying. So there is death benefit and death benefit is just basically what it is what it is. It's the benefit that is paid at debt and that benefit is paid tax free to your loved ones. Then there's cash values. Now cash value is your capital which you can access while you're live. So while you're alive you can access cash values. And cash values grow tax free on daily basis. And it's, it grows on daily basis to fulfill for it's grown by the insurance company on daily basis tax free. And insurance company is on the hook to fulfill a very specific contractual guarantee which applies to this policy and the contract you're getting. T is cash values must match the death benefit by age 100. So whatever death benefit you start at, cash value will increase every day to match that that benefit by age 100. If the economy goes up, cash values go up. If the economy goes down, cash values still go up. Because what happens inside the policy is shielded from what happens outside the policy. Because this is a contractual guarantee, financial entertainment doesn't impact what's, what's in the policy. Now by virtue of you owning a policy contract like this, you just don't own a policy contract. You actually co own the insurance company. So an insurance company which is a business and when this business becomes profitable in a year or per year, they will give dividends. And when the dividends are structured properly, which is exactly how we do the pro the the dividend is tax free. So death benefit tax free, cash value tax free, dividend tax free and included contractual guarantees. So if you like contractual guarantees and if you like tax free, well, you're going to love storing money here because your money must sit somewhere you can have your Money in your pocket, in your wallet, behind your toilet tank, underneath your mattress. It needs a warehouse. This is a warehouse of wealth where nothing can impact its growth. And it's all tax free. And it's private contracts with private people. Now a policy owner can access money from a policy whenever they want because they own the policy, not the insurance company. To access capital, you can access your cash values. Cash values are growing every day, tax free or the other way to access money is via policy loans. Policy loans are 90% of cash value. That's basically how much insurance company will lend as a loan against a cash value, it's 90%. So you can access your cash value or you can access insurance company's money. If you're accessing insurance companies money, it's going to be a loan. Remember the curve that I showed you? We borrow money and the money still grows. That's basically the whole idea. It's, it's, we're going to take loans right now. Do you believe in earning uninterrupted compound interest? And we talked about that today. So you all say yes, you love compounding. You believe in compounding. So if you believe in uninterrupted compound interest, let me ask you this question. And when an opportunity comes for you to access money from a policy like this, do you want to use your cash value, do you want to access your capital call your cash value or do you want to access policy loans? Because if you access your cash value, you're going to interrupt the compounding. Because the only way for you to access your money is to withdraw it. The moment you start withdrawing, it all goes downhill, it stops to grow. And the other way you can access money is via policy loan. And if you do policy loans, you're not interrupting the compounding. So if you have two choices, the answer is also in front of you. So if you want to access money, how do you want to access it? Do you want to take policy loans or do you want to use your capital? Just type that in the chat box again. Engagement, right? Energy. So put that energy in the chat box.

We have policy loan and a lot of policies on servo.

Fantastic. Now again, I'm building the framework of the family banking now. So when family earns income, isn't it true that all your income today is flowing to the books of someone else's bank and you're okay with it?

That's a fact to consider. So the bank sees your money before you see your own money. So if you're building your own banking system, should you not be putting all the money into your banking system? Well, the answer is absolutely yes. But we have to build the system to get to that level, right? It doesn't happen overnight. Remember, no such thing as instant results, right? There's always processes that we need to create to get results. So let's just say family income and then we create systems premiums. And then I show three in this case, because typically family wants to create a family banking system. Wife, husband, one child. That's typical scenario. So when your premiums go in, your premiums only does one thing and one thing alone. And which is it buys death benefit. And because of how this policy is contractually created, the moment it buys death benefit, insurance company pile up cash values for you. And because you have cash values, insurance company are also willing to give you money as a loan called policy loan, which is 90% of cash value. And these cash values increase every day to match the debt benefit by age 100. And if the cash values increase every day, your access to policy loans will also increase on daily basis. So every day you wake up, your cash flow is go up and then policy loans go up, up. Now, the way we design policies is your death benefit is a moving target.

This cash follows the leader. There's a really good book that we've authored on it called Cash follow the leader. The leader is the death benefit and the cash is cash value. So when we keep increasing the death benefit, the cash value now has to grow even more. Insurance company is on the hook to fulfill that contractual guarantee. You only have to do one thing. Keep buying more death benefit. And when you keep buying more death benefit, insurance company is just going to keep piling more and more cash value. If you want more cash value, just keep buying more death benefit, right? So the cash values keep increasing, which means the policy loans will keep increasing. So cash values must grow every day to match the death benefit by age 100. Now going back to the case study, so when it comes to premium, there's two components on the premium, right? So premium buys death benefit, we just cover that. But there's two components on the premium. One is called the required premium, right? So when I asked everybody is, is, are you worth 77 cents an hour? And that math came to 1500 dollars. So that 1500 will go in as required premium. Think about required premium as a foundation that you're creating to build more stories on top of it, right? And those extra stories on top of it that those stories are called deposit option. So, so those extra stories that you can those extra Layers that you can put on top of the foundation, extra stories. If you think in terms of multi family property, you buy those extra stores stories by the deposit option. And it's optional, it's not required. And in the policy like this, in this mail is age 46, his family's age 46. So when we put in the base foundation of $1500 per year, that premium, it creates room to put $5000 on top of that as deposit option. Right now together required premium plus deposit option, that becomes total premium. So the total premium that can go into this policy, 6500 out of which 1500 is required, 5000 is optional.

So again this is a visual. So I want you to think about. This is a picture that I googled. And so you can think when Empire State Building was just getting set up, right? So they had to build a very strong foundation to build at that time the tallest building on planet Earth. So think about that strong foundation that you have to build for your bigger, better financial future. And that is built using that minimum required premium, which is fifteen hundred dollars. And so you can see this black in the bottom, that's the, this, this Black is the $1500 that you're putting in. And as that Empire State Building, as they added more and more stories, think about deposit option going in and building more stories. If you are buying more stories on a multi family, which means you're going to build more cash, right? Because then you can rent out more apartments. It's a very similar scenario. So 1500 is the base and $5000 on top is going to build that base into more stories, which means build up more capital going forward. But you cannot have a strong building on a weak foundation. So the foundation is critical. That base premium, that base is critical. You must have heard the song it's all about the Base. Even in this, it's all about the base, the required premium, which is $1500. Right? Right. So the required premium is 1500 per year, the deposit option. So we're going to put those deposit options into policy, which is 5,000 every year from the monies that they are already aside in bank savings account for the purpose of paying for those living expenses, the property taxes, those charities, those investment monies. So we're going to gradually move those monies that they already are setting aside in a commercial bank into policy into deposit option. And then we're going to use the policy loans to finance those living expenses. And then because they have to make sure that the money is available next year, they have to just Pay back the policy loan, which is another way to save money. No different than that how they were already doing with the savings account. They were stacking money up and then they were using that money to pay for whatever they want to pay and to make sure that the money is there. Next year, they were stacking money up again. They were repaying into savings account. Right? So they're recycling the money through someone else's bank. They're going to do the same thing, but through their banking system. And let's see what the outcome is going to be.

All right, so source of deposits are going to be all these living expenses that we're going to recapture. Now, just a heads up, now, we're going to get into a lot of numbers, right? So if you are tuning into this webinar via a cell phone, I would advise you to please switch it over or turn it over into a landscape mode so that you have a bigger visual. But just a heads up, maybe take a deep breath because we're going to get into some numbers and I'm going to need everybody's 100% uninterrupted attention on the values that I'm going to show. All right? So we're going to build the foundation using required premium. Now, one thing that we did for this family is we backdated the policy so that we can start the policy one year in the back at age 45. Right. They're 46. And so today is November 2023. Insurance companies allow us to backdate the policy by one year. So technically, in this case, we can get started November 2022. And if you think about this from logical standpoint, if you want to start compounding anything, when do you think is the better time to compound? Is it today or is it one year in the past? It's a rhetorical question, but the obvious answer is always the one year in the past. So if you're able to take advantage of that, then why should we not? Right. So we backdated the policy for one year. So they're not 46 anymore in the policy, they're 45, although they're 46 today because we backdated it. Now they're 45. Right. And what you're seeing on the graph is the outcome from just that base foundation of $1500 per year, which is based on 77 cents per hour. Right? So in the bottom you can see age. So age is. So we backed it 45. And then you can see very next year, year 246, year 347 year 448, year 5, 49 and then year 6. And then I just do five year intervals because I don't have a bigger screen to compress all those numbers. So I just did five year intervals. And the key thing that I'm going to focus on is also 865 for retirement ready? So the orange line is the value and then blue line is the death benefit. So there are fifteen hundred dollars that they're putting in as base premium. That premium is buying death benefit. And you can see based on how the policy is designed, every year the death benefit is increasing. And the death benefit is just what it is. It is a benefit that is paid at debt to the family. So if God forbid, something happens to this person at year five, age 49, the death benefit payout is $70,000. It started at 66,000. And this death benefit is going to be tax free. And every year going forward, you can see the death benefit is increasing. And by the time they reach, they don't have to live till age 100, but let's presume they live till age 100. And if they live till age 100, their death benefit is 235,498. Now, because the premium bought death benefit insurance company is not piling up cash values. And cash values is the orange line. And cash value must grow every day to match the death benefit by age 100. Now, I'm not showing you the values in the policy every day because it's just going to have way more numbers than what it can handle right now. I'm just showing you what the values are going to be at the end of every year. Right? So if we backed the policy to November 2022, just using today as example, and they put in the base for last year, then basically this is the cash value today. And if they. So they start the second year today at age 46. So this is the cash value at the end of second year, Right? So these are the values at the end of every year year. But today they're 46, they're just backdating it. So they're going to have 2006 in cash values just by putting the basic premium at the end of second year and you can see the cash values increasing. Do you ever see the cash values go down again? It's a rhetorical question. The cash values can never go down because cash value must grow every day to match the death benefit by age 100. And at age 100, cash values and death benefit are exactly the same, same 235,498. Right. So again, economy goes down, cash value still go up. It's not interrupted with what happens outside. Now again, we're just putting the foundation. Fifteen hundred dollars. Right. We're just creating a foundation to build more stories on top. So 1500 multiple 21 years. So from age 45 to late 65, let's just say that's 21 years, that's 31,500. So if all they did was just put foundation and by the time they reach retirement, they're going to have 42,829 in cash value. Yes, it's more than what they put in. Yes, it's not exciting to see they put 31 to get 42. But the basic of foundation is to, is to, is to make sure that everything is steady going forward. We're going to build more skyscrapers, we're going to build some more stories on top of that and that number is going to increase and you're going to get excited about it. It. But that's just based on foundation that we're creating right now. Right. So I wanted to make sure everybody understands this. Once we get into moving the monies that they have for already set aside for expenses, moving that money into policy and just to see what the outcome is going to be. Right. So, so that's just the foundation. And that foundation is going to help build the process for the purpose of recapturing interest and for the purpose of controlling the flow over motion of money. Exactly what the banks do. Right. All right, so sources of deposit options, as we talked about, it's going to come from all those living expenses combined is 25,000. Now we're just going to readjust all this and we're going to say, okay, we're going to start with property tax first and then charitable givings and etc. Etc. And the reason why is because these are bigger numbers, right? 5000. 5000. 5000. These two are smaller values. 2500. 2500. Right. Because the power of compounding is to put the maximum today so that that maximum is going to compound in the policy for rest of your time on planet Earth. So if you put more in the beginning, we're going to have better growth. If you put less in the beginning, we're going to have lesser growth. It's just logic right now because we backed it, the policy. So policy can accommodate, so we have fifteen hundred dollars per year as basic foundation, but on top of that, the policy can accommodate 5,000 every year as deposit option now, because we backd, we put 1500 for last year, which means for last year they can put $5,000 in, which is age 45. And for this year, because we're starting the second year now, we put the 1500 in, which is the basic foundation. On top of that, they can put another $5,000 in from, in this case, charitable giving. So we are able to take one and two, property tax and charitable giving and actually put into policy right away. One went for last year, the other went for this year. Right. So that's $10,000 already moved and saved in the policy. And they had already saved that money to pay for next year's property taxes or next year's charitable giving. We just put that into the policy first. That's all we did. And once that money is in, the policy is going to continue to grow your death benefit because premium does what premium buys death benefit. So it's going to continue to increase their death benefit, which is going to by proxy continue to grow more and more cash value value because your job is to do one thing, which is to buy death benefit because you buy more death benefit, insurance company is going to fulfill their contractual guarantee and actually pile up more cash value. So 1 and 2 are in the policy. All right, so for year one again, we put 1500 plus the 5000. Year two, we put 1500 plus the 5000. So we are at year two. So property tax 5000. And charitable givings are now in the policy. And we want to make sure that next year, year they're able to get access to this capital from the policy because they had kept that money aside to pay for those things for next year. Right. All right, so let's see. So cash values at year two are 12,004, you can see right here, year two, 12,004, they need five plus five, which is 10,000, and they have access to 12,000. So this is cash value. Now, they're not going to use their money to pay for property tax and charitable giving next year. They're actually going to take a policy loan because they believe in uninterrupted compounding. If they use their cash values, if they take $10,000 after cash values, their value, the cash value will go down. But they don't want to do that. So they initiated a policy loan at year two. Now what they can access as a loan is 90% of the cash value. So what they can actually access is 10,800, which is 90% of 12,000. Now they only need 10,000 for next year's property tax and charitable giving. And they already have 10,800 in the policy as a policy loan. So the objective is met to have the money available to pay property tax and charitable giving for next year. The policy loan interest is 6.5%. So whenever you borrow money, there's interest because policy loan is not your money. Policy loan is insurance company's money. But remember, the whole idea is to recapture the interest. So let's see, see if this policy owner is able to recapture the interest and create a financial tailwind. So they need $10,000 for next year. They have that money. So they initiate a policy loan from 10 for 10,000. They don't use 10,800. They just take 10,000 of that as a loan. And then because they want to make sure that the money is available again next year to use, because they're going to need money for property tax and charitable giving next year, they just kept saving that money back into policy as a loan repayment. No different than how they would do it with a commercial bank. Right? You save up money in a bank and then you use that money for charitable in property taxes. And then you have to re save that money again in a bank to make sure that money is available. It's no different than recycling money through a commercial bank. They're just going to recycle money through their bank. And the way they can save more money is by paying back policy loans. And they control that that right. So they borrow 10,000, but they got to pay back 6.5%. So they pay back 10,650. The 650 is the interest on the loan. And let's see what happens to the cash values from year two to year three. Because they access money at year two and they pay it back from year two to year three so that the money is re available at year three. At year three you can see the cash flows of 13,958. So think about this. They paid back 10,650. 10,000 is principal, 650 is interest. But they're actually able to now access 13,958. So they recaptured the interest. No different than how banks recaptured the interest. They recaptured the interest because when they took that policy loan, they never interrupted the growth of the cash values. Remember that green line I showed you? The money is growing as you take a loan and when you repay it back back, you're able to go back and actually access more money and they decide how to repay it back. And here's the best part. Because they co own the insurance company as they have a participating dividend paying whole life policy, that interest that they're going to pay is actually going to come back as dividends to all the owners. So they're also creating additional financial energy for the owner group at the insurance company which also includes them. So do you think this transaction makes sense to pay back 10,650 and actually have access to 13,958 which is more than what they paid back. Which means they cannot just next year go back and refinance 10,000 for another property tax or charitable giving. They actually have more money to do maybe more things there. Right. Just put in the chat box if this is good transaction. Right.

Now if you look at what else did they create on this transaction? So they put $10,000 above and beyond the basic foundation that they had started with. Right. So they put 5,000 for last year as deposit option for property tax, this year, 5000 for charitable. So that's 10,000 above and beyond than the basic $1500 that they've been paying into the foundation. Now let's see the impact of that on the policy. So at 865 now, now their cash values are 70,739 just from the foundation itself. From the 1500 dollars per year the cash values at 865 would have been 42,000. But because they put above and beyond that just for the two years now they've increased that cash value at 865 to $70,000. So think about it. They just didn't create a process to recycle the living expenses, but they also build a plan to have a stronger, better retirement ready future at the same time. Now think about it. If they continue to recycle that 10,000 from a commercial bank, would they create any of this? No. But if they continue to recycle and prioritize building a process called infinite banking and recycle the monies from the infinite banking, they're still able to use the money for what they want to use. Plus they create additional growth for future retirement ready. So extra cash values as compared to if. If all they was to do was put the basic $1500 per year, they would have had 42, 000 retirement. Now because they put additional 10,000 in the first two years, 5,000 each year they build up additional 70,000 in cash value. So 70,000 minus the base based on the foundation, that's additional 28,000. So, so they put in 10 and created additional 28,000 in future retirement, and that's tax free. And in addition to that, they also have a higher death benefit. So God forbid something was to happen to them at any of these years, they would have enough money coming back for the family so that the family can actually take that death benefit and continue paying those living expenses now, because someone has to pay it. So if they live a long life life, they're able to recycle, do exactly what they want to do, but they're building a stronger financial future and stronger financial foundation for the family from the death benefit simultaneously.

And you can see the cash values now, but just putting in the basic 1500 per year, the cash flow is at age 100 was 235,000. And now it's $382,000. Right.

Sukhman, how are we doing so far?

All right, so we're gonna move on. So we moved property taxes and charitable givings into the policy.

Now we're gonna move the family holiday money that they're setting aside every year for family vacation. So now we're moving to year three. So they only put once into policy for property tax and charitable giving. And then going forward, they're just recycling money, meaning they're taking policy loans, and by virtue of making sure that money is available next year, they're just paying back policy loans. Right. So they only put one deposit of that 5,000, and then 5,000 for charitable, and they're just recycling money now. And now a new deposit doesn't go in at the year three, and it's going to be for the family holiday. Right. So, so Property taxes was 5,000, which we put in at year one. Charitable giving was 5,000, which we Put in at year two. Because we backed the policy, we put both years simultaneously. And third year, we're just putting the 5,000 from the family holiday. So total that's gone in for year one, two, three, is $15,000. Right now, cash values at year three are 18,830. Now, remember, now they need money to finance not just the new family holiday expense, but also the previous one, which was the charitable giving and the property tax, because these are things that they want to do every year. And all those expenses equal $15,000. And cash values are now 18,008, 30. So they have more than enough money to finance all that now every year through the policy. And the policy loan at year three is 90% of cash value. So 90% of 18,830 is 16,947. And all they need is $15,000. So there's more than enough money for them to actually access 15,000. They don't need 16,947, so they don't have to access 16,947. They can access 15,000 as a policy loan, cover property tax free, year three, charitable giving for year three, family holiday for year three, and then make sure that they just pay back the loan so that they can redo this at year four. So here's what's going to happen. So policy loan interest is 6.5%. They borrowed 15,000 because that's what they need. And they paid back 15,975. The 975 was the interest on the loan. And you can see the cash value now at year four is $20,000. So again, the question is, where can you pay back 15,975 into any bank savings account and have access to 20,947. If you know a bank, let me know. I'll put all my money there. There.

So now at year four, they got more money, which means they can access more of it. Now here, this, it doesn't stop here. Here's what else they created, right? So they, they put in extra $15,000. Now, year one was 5,000. Year two was 5,000. Year three was 5,000. The total combined is 15,000. So they put extra $15000. Now, cash values now at year at 865 or 83,589. When they had only put 5,000 for year one and 5,000 for year two, it was 70,739. When they were just paying the foundation 1500 per year, it was $42,000. So you can see they've grown the future retirement at a bigger scale. Now, now extra cash value. So compared to just the foundation of 42,000 and the 83,000 that they have now, the difference is 41,589. So think about it. They were able to build a system to recycle now three living expenses which equal $15,000. And in addition to this, they created additional 41,000 just by putting 15,000 into a system like this, 41,000 for retirement. So are you okay putting 15,000 and still be able to do exactly what you want to do, but create additional capital for retirement ready of 41,589 just from that 15,000 that you put in.

And the death benefit has grown, right? So two things can happen 10 years from today. Either you're alive or you're gone. That's it. Two things. If you're alive, you're going to have access to all that system to recycle all the money and if you're gone, your family is going to have access to all that tax free debt benefit benefit because they still need to live. Where are they going to pay all those living expenses? Well, it's going to be coming from the death benefit that they can spend. Right. And you can see at age 100, which is the contractual guarantee by putting three expenses, 5,000 each, 15,000. Now the cash value at age 100 is 516. 516,000. When they had only put two, it was 382, 382,000. When all they had done was just put the base, then it was 235,000. So everything is getting better. All they're changing is where the money is sitting now. That's all that they're doing. They're not changing their objective of paying for living expenses, they're doing all that. But just by storing the money differently and using a different process, they're just creating better outcome for their family going forward. All right, so 1, 2, 3. So we have, we have 3 of those expenses in now. Let's move the fourth one in. Right, so coaching and investment. So are you. Now let me ask this question. Are you setting aside monies for the purpose of maximizing RSPs, TFSA, investments, etc. Etc. Just type in Y into the chat box. If you're doing it right now, you have to first save money before you put those monies into investment. And presently you're saving those money in a commercial bank. This family is going to do the exact same thing of saving money to make sure that the money is there for the purpose of investing. But they're going to save that money first in their bank. And let's see what happens. Right, so we're going to go towards method four now. Right. So now we have four living expenses of savings moved into policy every year. So first year was for property tax which was $5,000. Second year was charity charitable giving 5,000. Third year was the family holiday 5,000. Fourth year is the money that they're setting aside for self development or investment which is 5,000. So now that money has gone into policy. So we need every year going forward $20,000 to finance from the policy. Because this is something that they want to do every year. Right. It's something that they're committing themselves to do now. So if you look at cash values at year four, now year four cash was at 25,798 which is more than enough money that they need to do all these things, which is $20,000. The policy loan, which is 90% of cash value, which is 25,798. You can see it right here. Policy loan, 90% is 23,218. Policy loan interest is 6.5%. So all they need is $20,000 every year. They can access 23, but they all need is 20,000. So they access 20,000 at year four.

To. So they're, they're able to have access to 20,000 in year four, so they're able to pay for all that at year five. The property tax, the charity, charitable giving, the family holiday, and the coaching and investment. So they do that by initiating a policy loan, and then they repay the loan back. No different than how they would refill the money in the savings account to make sure the money is available next year. They just did it by paying back policy loans. So total policy loan repayment is 21,300. So they borrowed 20K. They paid back 21,300. That 1,300 is the interest. Right now, they paid back 21,300, but they can access at year five, 28,460. You can see that number right here. So again, where else can you pay back 21,300 and have access to 28,460? So they're recapturing the interest on the loan repayment because the policy is growing beyond what the interest is, because the process is built to recapture the interest. So they're able to still move ahead financially and simultaneously as they're recycling money for not doing four things. Look at what happens at retirement ready time, which is 865. So what else did they create? So now at 865, the cash flows are 95,729. When they move four things into policy four, expenses. When they had moved three, it was 83,589. When they had moved two, it was 70,739. When they were just paying the base, the basic foundation valuation, it was $42,000. So extra capital that they have moved in year one, year two, year three, year four, 5,000. Year one, 5,000, year two, 5,000, year three, 5,000, year four, that's $20,000. Now, extra cash values that they've created for themselves is 95,000, minus 42,000, which is 53,000. So they're able to build now a System to finance 20,000 in living expenses every year. So they're not changing the goal. They're able to do everything that they want to do, but in addition to it, they've created 53,000 extra just by putting the 20,000 into policy. 53,000 extra above and beyond what they originally had at retirement time.

So when you build a system to recapture interest, when you build a system to control the motion of money, you will automatically create a better future retirement for yourself. Right. And cash values at age 100 rate. So now because they move four things, it's 581,000. When they had moved three things, it was 516,000. When they moved two things, it was 380, 82,000. When they had just the basic foundation premium 5, 1500 per year, it was 235. So you can see, because they keep putting money in and money is going in as premium and loan repayment. But the deposit that they're putting into premium, that premium buys one thing and one thing which is increase the death benefit. So the more death benefit they have have, the more cash value insurance company has to grow. Right. It's just very simple. All right, so they moved 1, 2, 3, 4. Now, interesting enough for year, for 5th and 6th, it's 2,500 each. And per year they can put $5,000 into deposit option. So they actually did that in one year. So year five, they were actually able to move both that simultaneously. Right. Because the policy can accommodate it. So let's see what happens now. When they moved two more, which is all of their living expenses that we have considered for this example. So all that is now moved into policy. So property tax 5000 which was moved in at year one. Charitable giving 5000 which was moved at year two. Family holiday 5000 which was moved at year three. Coaching and investment, which was moved at year five. Sorry, year four. And 1, 2, 3, 4. Yeah, year four. And then the Christmas and holiday car, all that 2500 plus 2500 is now being moved into policy into deposit option at year five, because the policy deposit option room is $5,000. So combine all that is 25,000. So now the system is, is big enough for them to recycle all these living expenses per year from the policy. It took them five years to get there. But ask yourself this question, is it worth it? And if they don't do this, they're still going to be five years older and they'll have nothing if they do it. They're still five years older, but they got way more than what they originally were going to do.

Right.

All right, so let's see. So cash values at year four at 25,798.

Actually we're going to be at year five now, 33,323. So that's a typo. It just should be 33,393. But, but even if you look at year four value, they still have more. Well, they almost. But at year five it's 33,323. So this should be 90% of 33,323. My apologies. But let's do that math together right now. 33, 323. This is the cash value at year five, which has been grown because they moved all those deposit options in, by, in five years. So they got access to 33,323 as cash values and they can borrow 90% of that as a loan. So they can actually access $30,000. I've just copied this from the previous slide, so I forgot to update it. So my apologies. But they got I'm human. I accept that. I'm human. So they have $30,000 in policy loan available, but all the need is $25,000 in policy loans because that's amount of money that they need to recycle from the policy. Right? So if they take 25,000 in loans and insurance from the insurance company is 6.25% interest that they're going to pay over the year is 1562 plus they're going to repay the principal. So total money that they're going to pay back is 26,562 from year five to year.

Year six. And you can see once they repay the loan back at year six, which is 26 562, they actually have access to 36,577. So again, they repaid 26562, but they're able to access 36,577. So where else can they repay 26562 and actually have access to 36,577? Now they got access to more money, but it just doesn't end here, there. Right? So if you think about what else did they create? So extra capital that they put into policy now is 25,000. So year 1, 2, 3, 4 5, they moved all those living expenses one by one into policy 5,000 every year. So they've moved $25,000 cash values at 865,249, which is the impact of moving all of those living expenses. And prior to that it was 95,000. Before that it was 83 70. And we've gone through all that. Right now 107,000 in cash flow is at 865 minus what they originally had. Just based on the foundation of 1500 per year that they were putting in, that's extra 65,249. So now they built a system to recycle 25,000 of living expenses every year, no different than how they were doing with the bank. They were able to do all that with the bank, but they're still able to do it better with the policy. They haven't changed the goals, but in addition to that 25,000, they've created six 65,000 on top of the original policy foundation at retirement. So they were able to do everything that they're going to do, but more. Right. And not to forget the death benefit that has been increasing and climbing because that day will come when this person is not going to be on planet Earth because nobody has a lease on life. Everybody has a best before date. They just don't know what the date is. Right.

Now that's moving all the expenses, recycling money for the things that they want to do. Plus we talked about retirement age 65, but I want to talk about another important thing. And let me know if this is good or not. Isn't this good or not? Let me know. So they stopped putting deposit options after year five because they only had, you know, six of those expenses. And two of those expenses, 2,500, 2500 each, were actually moved at year five. And then prior to that, the remaining four expenses were moved. So they only were moving six of those expenses, which they were able to do in year five, five years, but starting year five. So. Sorry. So starting year five. So starting year five. So in between year five and six, six. Or starting year six, let's just call that they actually stopped putting in the. Sorry. The question is, should they stop putting in the deposit option in year five. That's the question now. And let me know if they should continue putting in the deposit option at year five. Sorry. They stop putting the deposit option at year five. It's been a long day. So after year five, they stop putting that extra $5,000 that they were putting into policy. Right. Right. Now let me know if they should actually continue putting in the required premium. So that minimum premium, the minimum foundation, which is 1500 per year. Let me know. I'm going to go go through some math. Let me know if they should continue putting that 1500 every year after year five. Right. Because they have a choice to put the money in or they have A choice not to put that money in. Now, the cash value growth from year five to year six is 3250. So basically 36,577 minus 33,323, that's 3254. So if they actually put the basic foundation premium from year five to year six of 1500, the cash value growth is 3254. But all that extra deposit option they stop putting after year five because they moved all that money in five years, which is 5,000 per year on top of deposit option. But after year five, they're just putting the minimum premium. But that minimum of 1500 created a cash value growth of 3254. So let me know if they should actually continue putting in the minimum required. Would you be okay to continue to put $1,500 per year into an account into as a deposit into this policy where for 1500 you put in, you actually are able to now not just grow 3,254 from, from that year to the next year, but actually able to access that 3254. Also if you need more money.

If they put 1500 into a bank, are they able to get access to 30 to 54? Well, the answer is no. If they put 1500 in the bank, they can only spend 1500. But if they put 1500 into policy, well, they get to spend 3254. So type in Y if you agree that they should actually continue putting 1500 a year, which is 77 cents and 90 hour. So if they continue to think that they're worth 77 cents per hour, shouldn't they just continue putting the 1500 into policy? Because it's going to start giving them more and more money out. But they have a choice, right?

Well, s. We have a lot of yeses and then we have a question for you as well. It says every day and twice on Sunday.

There you go. I appreciate you. Who ever say that, I appreciate you. So they should be. Oh, Calvin. Oh man, Calvin, that's awesome. So yes, they should put 1500 into policy every single day and twice on to get access to 30 to 54. Now that's just from year five to year six for every year going forward, as they put $1500, they're actually going to be able to access more than that because the power of compounding. Right? So we've moved all the monies, all those living expenses into policy and they were able to still do exactly what they wanted to do, which is to make sure that the money is there available to pay for these expenses every year while they were able to do some other great things in addition to that. Right? But if they continue doing this the conventional way, they'll still meet those objectives, but they'll have nothing else to show for it. So choice is yours. Now summary did they change their objective of paying living expenses?

They did not. Did they take on any additional risk with the new process which is the infinite banking concept? Well, let me know and for no. Why? For yes. Did they take on any risk? So sukman what's happening?

No.

Everyone says no. No. Did they accomplish their objective of using the infinite banking concept for the things that they need money for? The answer is yes. Now did accomplishing the objective via infinite banking concept create additional financial wealth which the conventional method didn't allow them to do it? Well, we've seen it. The answer is yes. Additional wealth not just for retirement, but also death benefit. We cannot, we cannot negate the fact that life is for not right and that death benefit is going to be paid.

Are they also working towards being more retirement ready now as compared to how they were doing before? The answer is yes. Now here's a question and I would like and appreciate response from everybody. What is the downside in becoming your own banker using the infinite banking concept? And you can just be honest with me. Just share. If you saw a downside in the chat, just, just share, type in what you saw as a downside and if you don't see a down downside, just put in N.

I'm waiting for the answers here.

Yeah, just a lot of no's I don't knows.

So everybody shared in the chat that there were no downside. Every most of you said no, right? So if, if the answer is no, then what is preventing you from implementing this process in your life? Personally or corporately? Corporately you can do this personally and if you're a business owner you can also do this corporately. So let me know what is preventing you from doing it.

And here's what you have to do. It's simple step text the word schedule to 780-809-4599 and you book a complimentary discussion with an authorized infinite banking practitioner on a team and let us show you how you can still be able to go buy and pay for those, those great living expenses that you want to pay for. But just by changing the process, how you can enhance and radically improve the outcome, you can do all that this family was able to do right now Infinite banking concept. And again, I'm just going back to the theme that we have today. Infinite banking concept is not just for rich. Right? Infinite banking concept is all about prioritizing intentionally the flow of money. It's going to need coaches, coaching, and that's what we're going to be here for, coaching you every step of the way. Right. And it has nothing to do with how much money you have. What you have is great. Let's just recycle that money differently so that it actually performs better. And as a financial outcome for you, we're not talking about changing your objectives or changing your cash flow or taking on any risk or losing control over your money. In fact, it's all in the opposite that we're talking about, which is saying get more control. Protect your wealth against manipulated stock market, Protect your wealth against taxes. Protect your wealth against banks and the government, in addition to all the things that we talked about today. So you're going to need the use of money, right? You're going to spend money anyways. You're going to have to do that. Payments in life are not going to end, but you can certainly change how you or the place that you're recycling all those payments at, right? So just recycle it like a banker. It's as simple as that.

So here's what you're going to do. Text the word schedule to 780-809-4599 and then that's what it takes to take the first step in the discussion. And it's going to be good. 1.

Awesome. I'm going to invite all my team in the back end who's been helping answering questions, managing the chat. So I appreciate you all and if there's anything that has come up as a question, you know, let's address that as a panelist. So let's go ahead. All right, you know what, let's, let's do a value check right now. So let's do value check. So on a scale 1 to 10, 1 ZLO, go sell light screen 10. This was great. Value addition. Continue doing more content. Put in what you want me to do.

Oh, thank you.

Sorry.

Well, a lot of tens in the chat and then you can see the hearts and reactions on the side too. You brought everyone a lot of value.

Thank you for tonight. Well, thank you for allowing me to share. This has been great.

This webinar that I put together. I was thinking about how to present it and I'm not joking, but my wife can attest to it. I've been burning the night candle for the last three days to actually just frame it. And it's been great. I'm super excited to share this. Had a lot of fun presenting. So thank you so much for giving me an opportunity to share this. And we want to do more of this content as a team.

Well, that was a great way servo to help people understand how you don't have to be rich to get into the banking business. And so often we hear that, right? People say, oh, I need to be able to come up with premiums of this or that. And you demonstrate trade to people through just everyday expenses that we all have. You can start to utilize that and it just makes a huge difference over time. So I thought that was just enlightening for everybody to see how they could utilize those everyday expenses and make a difference in the long run.

I, I agree, Dan. And the most important thing that anybody has to do is one thing, rethink your thinking. And once you start doing that, you will see for some reason the magic starts to happen and you, you'll have the solution right in front of you. Let me ask this question with it to everybody who's still with us. Do you intentionally set aside time for thinking time?

Calvin says yes. David says yes. Fantastic, guys. And for those who are not, I would say please set aside intentionally time for thinking. It's the best time ever.

But yes, if you're an existing client on the webinar, think about how you can expand your program to just accommodate some of those living expenses. And if you're brand new to our community, well, book that call an existing client. If you want to book the call with the coach on the team, book that have that discussion. Without discussion, nothing happens. Right? That's the action step that you need to take.

So sero, we had one question in the Q and A box here.

Can you take some of the cash value when you are ready for retirement or ready to retire?

Well, I'm going to answer this question by asking a question question. Who owns the policy?

Policy owner, not the insurance company. So the policy owner decides what to do with the cash value at any time. At your privilege. 90% of cash value is available for policy loans. It doesn't matter whether you use it for retirement. Las Vegas, it's up to you. There's no restrictions on for what that money can be used for. But to answer your question, 100%, yes. That's why we do all this. We want to be able to recycle money for the purpose of controlling the banking function today. But also Create a bigger, better future retirement ready goal. That's it. That's what we're looking for. And not to forget the legacy aspect. Tax free legacy, it's, it's there as a bonus.

Darbal, I really loved how you showed tonight for everyone that you don't have to be rich to implement IPC and getting into the banking business, the only one that's preventing you is you. And that's definitely why you've got to start scheduling a call because.

It'S a little scary thinking that you get complete, you get control of your money instead of someone telling you the rules on what to do with your money.

That's right. And my first policy, and I've shared this so many times, was 5,000. And I had started the policy for a different objective I had started for the purpose of starting and now that policy is now dedicated for me to go to family vacation and use that for every year family vacation, no different than what I should today. And then I say if I go to family vacation, can I not do it for, for my cell phone bills, my utility bills, my car insurance, my rental insurance. And then I start another policy for that purpose. And that's like, well, if I can do it for all this, can I not do it for cars? Well then I start another policy for cars. If I can do it for cars and all those things, well, what's preventing me for doing this for investments and I start another system for investments and all I'm doing is recycling modeling, which I would have done anyways.

So grows in time and your coach will show you how to do it.

And coaches that you see here and the team members that were not able to attend because of family obligation. We are all the best at this because we practice what we teach niche. We've been practicing this for several years and we were privileged to have been mentored directly from Nelson Nash, the pioneer and the founder of the process of becoming a banker.

Sorry.

Well, we had another question in the chat here and I just want to let you know that there's a lot of people in the chat right now saying that they really appreciated the numbers and the breakdown of how you did it tonight. So again, thank you for that. I think it spoke to a lot of people and the question, the question here is is should I always repay the whole loan plus interest within the year to avoid taxation of the policy loans? And I feel like you might answer this one with a question too, but I'll let you go for it.

Yeah, well, if, if you want the money to Be available next year to cover the same living expenses, pay it back. No different than how you would save that money next year in your bank account to make sure money is there for property taxes, money is there for other expenses. You have to do it. You're just going to do it differently. You're not changing your habits. You, you, you have to, you have those habits to make sure that the money is there. You just change the process.

And, and.

To your, to your first answer. Who owns, who is the policy owner? It's you. So you get to set the terms. If one year something does come up. Life, life happens. Right. You get to decide and defer that loan payment for the next year. So you have that power in your hands. No one's coming after you to, to.

Pay the loan back.

It's good practice to do it.

That's right. The only way this can fail is because of policy owners behavior.

Your behavior is more important than your coach's behavior, the insurance company's behavior because everybody is here to serve you including the insurance company, including us.

So if you don't set aside money in your savings account for living expenses, can you pay for those living expenses expenses.

Whose behavior created it? The banks bank has a bank is a depository institute. They will be upset if you don't put money back because they can. They get to use less of that money. So no different than that. If you don't put back the money then it's your behavior that's going to trigger it.

So we have a few more minutes and maybe for everyone that's sticking around we can, you can offer them a golden nugget and even the advisor team here, here. I know what your biggest lesson is from reading Nelson's book, right. Rethinking your thinking. And that's where it starts. The last time that you read becoming your own banker what was the new thing that jumped out at you? I would love to know that.

Exactly what I described today. I was looking for ways to make this really simple to present and then two things just keep speaking to me. So there's two important principles that people need to do do. One is build a process to recapture interest. The other is to control the motion of money. If people just do those two things, that's all it takes to build a better, stronger financial future. And I've just shared with you exactly what the new inspiration was. It was always there and I knew it but I just saw it differently.

Now.

Because I was like dang, banks do the same exact thing. All we're going to do is implement the same process. And we already have the amazing tool to do it which gives off the control and takes the control away from the banks, the government, the stock market. Like who doesn't want control?

Yeah, we got an interesting comment in the chat box there, Crystal. I think it is wondering if missing something, something.

I thought I could only get a term policy and something about is this webinar for males at 45 for whole life insurance. It's not just males at 45. It's like, you know, you can get a whole life insurance policy when you're, you know, less than a month old and you can get one when you're 80 years old.

So all us here have like. Yeah, exactly. We are not all of five mail. So yeah.

So Crystal, you just need to book a call with your coach.

That was just that.

Yep. It applies to everybody and it applies and it works best when you're able to rethink your thinking. And by the way, we're not here selling whole life policies. We're here building a process using a tool called participating dividend paying whole life policies to help finance the things that you need in life. You're going to finance those anyways through your bank. You're going to pay interest, you're going to lose interest this way. This process is recapturing interest. And the reason why we use a participating dividend paying whole life policy is because it has all the attributes that are required to recapture the interest. There's nothing out there that can allow us to do it. We've been doing this for over 15 years. Years. And in our 15 years of experience we haven't seen anything else out there as a tool that can replace participating dividend paying whole policy to recapture the interest to build the process of recapturing trust. And don't forget the control over motion of money.

Just looking at the Q and A box here we can you please explain the data?

There was a few scenarios that you use Sarbul. So again Devin, there is a good question. The question is can you please explain the paid up edition? Was the $5,000 in the case study paid up additions? This whole webinar was recorded and it's going to be on our YouTube channel, Bankers Vault. So you can go back and study the numbers if that's what you'd like. Sarbill, you went over a few scenarios so maybe in one of the them that was the case.

Yeah, $5,000 was always insurance companies terminology is paid up addition. I don't use industry jargon because I don't want to speak to advisors. I'm speaking to just general public, hence I just use simple term deposit option. Right. But it is what it is. It is the P addition petition. And I don't want to go much technical into it, but yeah, that's where the 5000 window.

Got it.

That's all the questions in the Q and A box. I just wanted to take some time to say, Sarlo, again, thank you so much. And the fact that you're still learning from becoming your own banker every time you read it is an inspiration for us to read the book. Right? So anybody that's watching that's read it gives you inspiration to read it again. Anybody that hasn't read it, that's a big thing right there that it's an opportunity for you to read it. And I just put a link in the chat now. If you use the code 50 on off right now, you can get 50% off. So Christmas is around the corner. Get a copy for someone else that you really want to learn about this. I saw, I saw a really interesting comment before. It said, how am I today years.

Old when I found out about this?

So pass that on to somebody else.

Right.

If it's something that you enjoy and you wish you knew earlier, share with someone that you love or someone you care about.

Right?

So again, you can use the code 50 off and I just sent the link in the chat room or the chat box.

Sorry. That's awesome. Yeah. Black Friday, right? So let's move your financial books, personal financial books, from red to black. Implement the process of becoming a banker. Today is the best day.

That's all I'll say. Thank you so much for everybody to allow me to share. Give me an opportunity. I feel blessed to be part of this team and you guys are fantastic. Anybody joining this webinar, there's going to be a recording which is going to sit on YouTube 24 7, 365. And please don't keep this a secret. It if you know someone else, your brother, your sister, your business partner, your friend, your colleague who can benefit from the education that we provide, share.

Everybody should be becoming their own banker. We need it today more than ever before.