Wealth Without Bay Street
120. Corporate Tax Landmines In Canada with Henry Wong

120. Corporate Tax Landmines In Canada with Henry Wong

June 21, 2022

FREE report 7 Simple Steps to Becoming Your Own Bankerhttp://7steps.ca/ 

 

Wealth Without Bay Street EPISODE 120: Featured on today’s episode is Henry Wong, explaining how you, as a business owner, can avoid corporate tax landmines in Canada. Henry is a professional CPA and trains other CPA’s across Canada specializing in taxation and passing through the nationals exams. He chanced upon the book “Becoming Your Own Banker” and began to piece together all his knowledge of life insurance and financial accounting and soon began to pursue the journey of becoming his own banker. Henry now trains others as an accountant in how to build their own personal capital pool and manage their taxation through IBC. 

 

IN THIS EPISODE, YOU WILL LEARN: 

0:00 Introduction

3:14 The Flow of Capital

5:29 The Theory of Integration

10:21 Landmine #1 - Shareholders Get Benefits From Their Company

15:47 Landmine #2 - Shareholder Borrowing

21:42 Golini Case Study

29:49 What Can Happen If You Go With Shareholder Borrowing

33:51 Know Your Fine Print

38:25 Get Connected With The Right Advisors

 

Golini Case File

https://www.canlii.org/en/ca/tcc/doc/2016/2016tcc174/2016tcc174.html

 

Tax Court Ruling a Cautionary Tale for Small Business Owners   

https://www.advisor.ca/columnists_/florence-marino/shareholder-borrowing-is-a-shareholder-benefit-but-how-much-is-it-worth/

 

🎙️ WEALTH WITHOUT BAY STREET LINKS:

Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthwithoutbaystreet.com/masterclass 

Podcast Website: https://wealthwithoutbaystreet.com/

Follow us on Facebook: https://wealthwithoutbaystreet.com/fb

Subscribe to our Youtube Channel: https://wealthwithoutbaystreet.com/yt

Book a 15-minute call: https://wealthwithoutbaystreet.com/15mincall

 

Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:

https://wealthwithoutbaystreet.com/dayofnelson 

 

🤝 Join Our Community! https://wealthwithoutbaystreet.com/community

 

📚 IBC RECOMMENDED BOOKS

https://wealthwithoutbaystreet.com/books

 

📽️ WATCH THE DOCUMENTARY

Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/

 💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/

EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/

 

Wealth Without Bay Street is a Founding Member of the SMB PODCAST NETWORK visit https://www.smbpodcastnetwork.com/ to learn

#WWBS #JaysonLowe #RichardCanfield #theinfinitebankingconcept #wealthwithoutbaystreet #HenryWong

119. The Money Advantage Using Infinite Banking In Canada

119. The Money Advantage Using Infinite Banking In Canada

June 14, 2022

FREE report 7 Simple Steps to Becoming Your Own Bankerhttp://7steps.ca/ 

 

Wealth Without Bay Street EPISODE 119: This episode of Wealth Without Baystreet features Bruce Wehner and Rachel Marshall. Bruce Wehner is the lead advisor of The Money Advantage, where he designs and communicates the individualized solutions that help their clients increase cash flow and financial control. He is a Nelson Nash Institute Authorized Infinite Banking Practitioner who has been practicing Infinite Banking since his parents started his first policy when he was a young child. 

Rachel Marshall is the Co-Founder, Chief Financial Educator, and Content Strategist of The Money Advantage. She’s currently writing a book about her near-death experience and how it became the springboard for her family’s multi-generational legacy of more than money. 

Bruce and Rachel are the co-hosts of The Money Advantage podcast, the popular business and personal finance show.

IN THIS EPISODE, YOU WILL LEARN: 

0:00 Introduction

1:38 The Money Advantage - How It All Started

7:00 Grasping A Firm Understanding

11:59 Finding The Right Audience

15:05 Bruce’s Journey With IBC

22:02 Rachel’s Journey With IBC

25:31 Reading And Other Learning Mediums 

30:08 How The Message Gains Traction

33:50 Always Get Back To The Fundamentals

43:50 Dealing With Negative Comments

52:05 Rachel’s Near-Death Experience 

 

Website: https://themoneyadvantage.com/

LinkedIn: https://www.linkedin.com/company/themoneyadvantage

Facebook: https://www.facebook.com/TheMoneyAdvantage

Twitter: https://twitter.com/Money_Advantage

Instagram: https://www.instagram.com/themoneyadvantage/

YouTube: https://www.youtube.com/c/TheMoneyAdvantage

Rachel Marshall:https://www.linkedin.com/in/rachelmmarshall/

Bruce Wehner: https://www.linkedin.com/in/bruce-wehner-5619b5a

 

🎙️ WEALTH WITHOUT BAY STREET LINKS:

Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthwithoutbaystreet.com/masterclass 

Podcast Website: https://wealthwithoutbaystreet.com/

Follow us on Facebook: https://wealthwithoutbaystreet.com/fb

Subscribe to our Youtube Channel: https://wealthwithoutbaystreet.com/yt

Book a 15-minute call: https://wealthwithoutbaystreet.com/15mincall

 

Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:

https://wealthwithoutbaystreet.com/dayofnelson 

 

🤝 Join Our Community! https://wealthwithoutbaystreet.com/community

📚 IBC RECOMMENDED BOOKS

https://wealthwithoutbaystreet.com/books

 

📽️ WATCH THE DOCUMENTARY

Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/

 💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/

EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/

Wealth Without Bay Street is a Founding Member of the SMB PODCAST NETWORK visit https://www.smbpodcastnetwork.com/ to learn

 

#WWBS #JaysonLowe #RichardCanfield #theinfinitebankingconcept #wealthwithoutbaystreet #BruceWehner #RachelMarshall

118. Estate Planning Innovations In A Digital World Meet Guidr

118. Estate Planning Innovations In A Digital World Meet Guidr

June 7, 2022

FREE report 7 Simple Steps to Becoming Your Own Bankerhttp://7steps.ca/ 

 

Wealth Without Bay Street EPISODE 118: Featuring on this episode of Wealth Without Baystreet are David Zumpano and Guy Remond. David Zumpano started out as an estate planner, founding The Estate Planner Law Center in 1995. Over the years David has also founded the Medicaid Practice Systems, LLC in 2010 and has authored Protect Your IRA, Avoid the 5 Common Mistakes, a contributory book offering for Estate planning attorneys in 2015. David now continues his journey helping estate planning and elder law attorneys build purpose driven practices with personal and professional balance. Guy Remond has over 20 years in the tech, software & consulting/advisory industries, as a founder, director, investor and advisor. Following his passion Guy branched out into the technical world, in 2001 and was a founding member and CEO of Cake Solutions Ltd. Guy has invested in a number of companies and is actively working with these companies in a non-executive director or chairman role, helping them to fulfill the leadership's drive to a successful outcome.

David and Guy have been partners in building Guidr, a digital, easy to use client interface platform released to lawyers, changing the industry by digitizing how lawyers communicate with clients to meet the demands of the modern technological advancements consumers have come to expect.  In October 2021, Dave and his technology partner, Guy Remond, co-authored; The Digitization of Law; How to transform technology disruptions into abounding opportunities, which provides the basis and support for the future of the law practice incorporating digital technology. 

IN THIS EPISODE, YOU WILL LEARN: 

0:00 Introduction

2:36 How Guidr Was Born

14:12 Guidr And Its Features

18:28  How Does Guidr Work

19:24 Maintaining a Relationship With Your Attorney 

20:54 To Have the Law Digitized, Democratized, Demonitized

26:04 Creating a Convenient Solution

28:17 Confidentiality and Ethics

32:04 Guidr Is The Future 

38:13 Adapting As Technology Advances

42:42 Understanding The Consumers

48:54 Creating Value As An Entrepreneur

51:18 Who Would David Want To Be a Hero To

52:14 Who Would Guy Want To Be a Hero To

 

Guy: https://www.linkedin.com/in/guyremond/

Dave: https://www.linkedin.com/in/david-zumpano-a0208119a/

 

Follow Guidr on: 

Facebook: https://www.facebook.com/guidr.legal 

Instagram: https://www.instagram.com/accounts/login/?next=/guidr.legal/

LinkedIn: https://www.linkedin.com/company/guidr-legal/

Twitter: https://twitter.com/GuidrLegal

YouTube: https://www.youtube.com/channel/UChhBZLky0pllzqCEXU6c-AQ

 

🎙️ WEALTH WITHOUT BAY STREET LINKS:

Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthwithoutbaystreet.com/masterclass 

Podcast Website: https://wealthwithoutbaystreet.com/

Follow us on Facebook: https://wealthwithoutbaystreet.com/fb

Subscribe to our Youtube Channel: https://wealthwithoutbaystreet.com/yt

Book a 15-minute call: https://wealthwithoutbaystreet.com/15mincall

 

Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:

https://wealthwithoutbaystreet.com/dayofnelson 

 

🤝 Join Our Community! https://wealthwithoutbaystreet.com/community

📚 IBC RECOMMENDED BOOKS

https://wealthwithoutbaystreet.com/books

 

📽️ WATCH THE DOCUMENTARY

Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/

 💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/

EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/

#WWBS #JaysonLowe #RichardCanfield #theinfinitebankingconcept #wealthwithoutbaystreet #DavidZumpano #GuyRemond

117. Business Owners Avoid Paying Taxes Legally In Canada

117. Business Owners Avoid Paying Taxes Legally In Canada

May 31, 2022

FREE report 7 Simple Steps to Becoming Your Own Bankerhttp://7steps.ca/ 

 

Wealth Without Bay Street EPISODE 117: Joining us today is Henry Wong to talk about taxation on your business that may happen after you’re gone. Henry is a professional CPA and trains other CPA’s across Canada specialising in taxation and passing through the nationals exams. He chanced upon the book “Becoming Your Own Banker” and began to piece together all his knowledge of life insurance and financial accounting and soon began to pursue the journey of becoming his own banker. Henry now trains others as an accountant in how to build their own personal capital pool and manage their taxation through IBC. 

 

IN THIS EPISODE, YOU WILL LEARN: 

0:00 Introduction

2:04 Something to Think About as a Business Owner

5:18 Second Death and Income Tax Act in Canada

7:46 What is the Deemed Disposition

11:33 How Can This Affect the Business

15:52 Capital Flow of a Business

19:03 Levels of Taxes and Extracting Tax

22:36 Value of The Business Owner 

24:44 Working Together With the CPA

28:38 Estate Planning and Deemed Disposition

37:33 Wind-up and Carry Back

39:48 Pipeline Restructure

44:17 Working With a Good Team

47:08 Succession Planning

50:01 Utilizing Term Insurance

56:17 Need For Insurance

1:01:21 What’s Best For You and Your Business 

 

🎙️ WEALTH WITHOUT BAY STREET LINKS:

Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthwithoutbaystreet.com/masterclass 

Podcast Website: https://wealthwithoutbaystreet.com/

Follow us on Facebook: https://wealthwithoutbaystreet.com/fb

Subscribe to our Youtube Channel: https://wealthwithoutbaystreet.com/yt

Book a 15-minute call: https://wealthwithoutbaystreet.com/15mincall

 

Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:

https://wealthwithoutbaystreet.com/dayofnelson 

 

🤝 Join Our Community! https://wealthwithoutbaystreet.com/community

📚 IBC RECOMMENDED BOOKS

https://wealthwithoutbaystreet.com/books

 

📽️ WATCH THE DOCUMENTARY

Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/

 💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/

EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/

#WWBS #JaysonLowe #RichardCanfield #theinfinitebankingconcept #wealthwithoutbaystreet #HenryWong

115. Infinite Banking For Key Employee Benefits In Canada

115. Infinite Banking For Key Employee Benefits In Canada

May 17, 2022

FREE report 7 Simple Steps to Becoming Your Own Bankerhttp://7steps.ca/ 

 

Wealth Without Bay Street EPISODE 115: Today on Wealth Without Baystreet, Richard and Jayson discuss how ensuring a key person or people in your business can be helpful and beneficial in case something happens. Providing a benefit or incentive can be good for both your employee and your business as you never know what will happen.

IN THIS EPISODE, YOU WILL LEARN: 

0:00 Introduction

2:10 How Do Large Corporations Utilize This

6:10 Good Businesses find Ways To Keep Employees Happy

10:15 How Long Should The Business Wait To Implement This

13:52 What If They’re Uninsurable?

17:50 Keep Key Employees Safe During Travel

🎙️ WEALTH WITHOUT BAY STREET LINKS:

Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthwithoutbaystreet.com/masterclass 

Podcast Website: https://wealthwithoutbaystreet.com/

Follow us on Facebook: https://wealthwithoutbaystreet.com/fb

Subscribe to our Youtube Channel: https://wealthwithoutbaystreet.com/yt

Book a 15-minute call: https://wealthwithoutbaystreet.com/15mincall

 

Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:

https://wealthwithoutbaystreet.com/dayofnelson 

 

🤝 Join Our Community! https://wealthwithoutbaystreet.com/community

 

📚 IBC RECOMMENDED BOOKS

https://wealthwithoutbaystreet.com/books

 

📽️ WATCH THE DOCUMENTARY

Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/

 💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/

EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/

#WWBS #JaysonLowe #RichardCanfield #theinfinitebankingconcept #wealthwithoutbaystreet

95. Family Banking With Purpose - Chris Bay IBC Coach

95. Family Banking With Purpose - Chris Bay IBC Coach

December 27, 2021

This episode of Wealth Without Baystreet features Chris Bay, an Infinite Banking Coach at Life, Success and Legacy. He is the Author of ‘Family Banking with Purpose: A Story About Financial Freedom Through Infinite Banking’. Applying his twenty-two years in education and his leadership background as a principal, Chris gains great satisfaction in helping others understand how to apply IBC in their own lives. He became an Authorized Infinite Banking Concept Practitioner with the Nelson Nash Institute. Chris lives in Lawrence, Kansas, with his wife, Shawn, their two daughters, Lily and Addie, two cats, three chickens, and one old dog who puts up with the rest. 

 

IN THIS EPISODE, YOU WILL LEARN: 

0:00 Introduction 

5:17 Chris’ Inspiration for His Book

8:42 What to Take Away From Chris’ Book

15:02 Power of Family Banking

21:20 Changing Your Wind Current

25:50 Education the Next Generation on Infinite Banking

28:29 A Fond Moment with Nelson

37:12 Who Would Chris Want to be a Hero to

 

Get The FREE special report 7 Simple Steps to Becoming Your Own Bankerhttp://7steps.ca/ 

 

📌 EPISODE LINKS:

Connect with Chris:

Life Success & Legacy website: https://lifesuccesslegacy.com 

Books: https://familybankingwithpurpose.com

Learning Kit:  https://lifesuccesslegacy.com/learning-kit

Podcast:  https://lifesuccesslegacy.com/podcasts

 

🎙️ WEALTH WITHOUT BAY STREET LINKS:

Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthwithoutbaystreet.com/masterclass 

Podcast Website: https://wealthwithoutbaystreet.com/

Follow us on Facebook: https://wealthwithoutbaystreet.com/fb

Subscribe to our Youtube Channel: https://wealthwithoutbaystreet.com/yt

Book a 15-minute call: https://wealthwithoutbaystreet.com/15mincall

Re-think Your Thinking - The Backwards Bicycle : https://wealthwithoutbaystreet.com/backbike 

 

Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:

https://wealthwithoutbaystreet.com/dayofnelson 

 

🤝 Join Our Community! https://wealthwithoutbaystreet.com/community

Check out our other Channel for more content: https://wealthwithoutbaystreet.com/bankersvault 

 

📚 IBC RECOMMENDED BOOKS

https://wealthwithoutbaystreet.com/books

 

📽️ WATCH THE DOCUMENTARY

Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/

 💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/

EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/

 

EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/

#WWBS #JaysonLowe #RichardCanfield #theinfinitebankingconcept #wealthwithoutbaystreet #ChrisBay

75. Wealth Coach Improves Financial Health With #IBC

75. Wealth Coach Improves Financial Health With #IBC

August 10, 2021

Back on the Wealth Without Bay Street’s Advisor series, Liz Lamond is an advisor with Ascendant Financial. She discovered IBC after investing in real estate through mortgages for many years and discovered a better way of managing the banking function in her life. Since then, she now helps her clients reduce the financial stress in their lives by guiding and coaching them through the infinite banking process. Getting to help people with a solution that works for their personal and business lives and makes a difference to their long-term planning and provides for their family's needs now and in the future. Liz came to IBC from the healthcare industry and now coaches her clients back to financial health.

 

IN THIS EPISODE, YOU WILL LEARN: 

0:00 Introduction 

2:06 How Liz discovered IBC and her journey implementing it

7:38 The optimal mindset of clients that Liz loves to work with

10:22 What inspires Liz the most about IBC

13:37 The connection between financial frustration leading to freedom in IBC

17:56 Liz’s advice to potential IBC Advisors

19:52 The importance of being a learner through the IBC process

24:15 Who Liz wants to be a hero to

 

📌 EPISODE LINKS: 

Follow Liz Lamond:

Ascendant Financial: https://ascendantfinancial.ca/team-member/liz-lamond/

LinkedIn: https://www.linkedin.com/in/liz-lamond-85a8a1195?originalSubdomain=ca

 

🎙️ WEALTH WITHOUT BAY STREET LINKS:

Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthwithoutbaystreet.com/masterclass 

Podcast Website: https://wealthwithoutbaystreet.com/

Follow us on Facebook: https://wealthwithoutbaystreet.com/fb

Subscribe to our Youtube Channel: https://wealthwithoutbaystreet.com/yt

Book a 15-minute call: https://wealthwithoutbaystreet.com/15mincall

Re-think Your Thinking - The Backwards Bicycle : https://wealthwithoutbaystreet.com/backbike 

 

Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:

https://wealthwithoutbaystreet.com/dayofnelson 

 

🤝 Join Our Community! https://wealthwithoutbaystreet.com/community

Check out our other Channel for more content: https://wealthwithoutbaystreet.com/bankersvault 

 

📚 IBC RECOMMENDED BOOKS

https://wealthwithoutbaystreet.com/books

 

📽️ WATCH THE DOCUMENTARY

Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/

 💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/

EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/

 

EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/

 

#WWBS #JaysonLowe #RichardCanfield #theinfinitebankingconcept #wealthwithoutbaystreet #LizLamond

72. From Engineer to Authorized Infinite Banker - Sarbloh Gill

72. From Engineer to Authorized Infinite Banker - Sarbloh Gill

July 20, 2021

Back on the Wealth Without Bay Street’s Advisor series, Sarbloh Gill is an advisor with Ascendant Financial. He was introduced to Jayson Lowe by a placement agency based in 2015 and was introduced to the book “Becoming your own banker – unlocking the infinite banking concept by Nelson Nash”. Six years later, Sarbloh is now an Infinite Banking Coach with expertise in implementing the process of becoming your own banker to help Canadians obtain the objective of paying off debt while creating wealth at the same time. He takes pride in coaching new advisors joining the Ascendant team as well.

 

IN THIS EPISODE, YOU WILL LEARN: 

0:00 Introduction 

2:57 How Sarbloh discovered IBC

9:18 Sabloh meeting Jayson Lowe and joining Ascendant Financial

14:39 The optimal mindset of clients Sarbloh loves to work with

17:27 The impact of adopting IBC into your family and life

19:18 Sarbloh’s stories with Nelson Nash

23:00 Helping people discover the key problem

25:30 How Sarbloh loves serving his clients

27:51 How the Wealth Without Bay Street Podcast has helped many people gain knowledge and practice IBC

 

📌 EPISODE LINKS: 

Follow Sarbloh Gill: https://ascendantfinancial.ca/team-member/sarbloh-gill/  

Facebook: https://www.facebook.com/sarbloh.gill 

LinkedIn: https://www.linkedin.com/in/sarbloh-gill-5b8ab1190/?originalSubdomain=ca 

 

🎙️ WEALTH WITHOUT BAY STREET LINKS:

Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthwithoutbaystreet.com/masterclass 

Podcast Website: https://wealthwithoutbaystreet.com/

Follow us on Facebook: https://wealthwithoutbaystreet.com/fb

Subscribe to our Youtube Channel: https://wealthwithoutbaystreet.com/yt

Book a 15-minute call: https://wealthwithoutbaystreet.com/15mincall

Re-think Your Thinking - The Backwards Bicycle : https://wealthwithoutbaystreet.com/backbike 

 

Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:

https://wealthwithoutbaystreet.com/dayofnelson 

 

🤝 Join Our Community! https://wealthwithoutbaystreet.com/community

Check out our other Channel for more content: https://wealthwithoutbaystreet.com/bankersvault 

 

📚 IBC RECOMMENDED BOOKS

https://wealthwithoutbaystreet.com/books

 

📽️ WATCH THE DOCUMENTARY

Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/

 💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/

EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/

#WWBS #JaysonLowe #RichardCanfield #theinfinitebankingconcep#wealthwithoutbaystreet

65. Dividend Scale Interest Rate With Par Whole Life Insurance

65. Dividend Scale Interest Rate With Par Whole Life Insurance

June 1, 2021

What are whole life insurance dividends? How do they work? What is the Dividends Scale interest Rate and how does it actually show up in a policy? These are great questions and you are in for a treat as Jayson and Richard go on a rant in a rare episode where they share the screens and show a sample life insurance illustration. They use this to debunk some myths about dividend rates and rates of return that are commonly referred to as financial noise out there in the marketplace. Learn what really matters in an insurance contract as they prove to you that it's the owners' behaviors that have the single greatest impact on the values in a policy contract and that the owner by their own efforts can increase the power of dividends they receive.

 

Links From The Video:

The Contribution Principle Dividend Policy 

  1. https://www.equitable.ca/en/already-a-client/dividend-policy-2020/ 
  2. Stock Company #1 - Dividend Policy https://www.sunlife.ca/en/explore-products/insurance/life-insurance/participating-and-adjustable-policyholder-information/dividend-policy/
  3. Stock Company # 2 -  Dividend Policy -https://www.canadalife.com/content/dam/canadalife/documents/insurance/par-whole-life-insurance/en/Policyholder_Dividend_Policy.pdf 
  4. Fraternal Company # 1 Dividend Policy - https://www.foresters.com/-/media/foresters/documents/pdfs/en-ca/505125-can-us-uk-foresters-dividend-policy.pdf 
  5. Actuarial Standards of Practice https://www.actuarialstandardsboard.org/wp-content/uploads/2014/06/asop015_134.pdf 

 

OSFI - Participating Account Management and Disclosure to Participating Policyholders and Adjustable Policyholders

https://www.osfi-bsif.gc.ca/Eng/fi-if/rg-ro/gdn-ort/gl-ld/Pages/e16.aspx 

 

IN THIS EPISODE, YOU WILL LEARN: 

0:00 Introduction 

2:11 Understanding deeper about Dividend Paying Whole Life Insurances

4:11 The misconception about interest rates

8:18 Dividend Paying Life Insurance Carriers: Mutual vs Stock

13:57 The contribution principle

21:31 Example 1 - Screen Share

47:50 Example 2 - Screen Share 

58:24 The historic profitability and resilience of life insurance companies

 

🎙️ WEALTH WITHOUT BAY STREET LINKS:

Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthwithoutbaystreet.com/masterclass 

Podcast Website: https://wealthwithoutbaystreet.com/

Follow us on Facebook: https://wealthwithoutbaystreet.com/fb

Subscribe to our Youtube Channel: https://wealthwithoutbaystreet.com/yt

Book a 15-minute call: https://wealthwithoutbaystreet.com/15mincall

 

Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:

https://wealthwithoutbaystreet.com/dayofnelson 

 

🤝 Join Our Community! https://wealthwithoutbaystreet.com/community

 

📚 IBC RECOMMENDED BOOKS

https://wealthwithoutbaystreet.com/books

 

📽️ WATCH THE DOCUMENTARY

Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/

 💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/

EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/

49. Earn Dividends Like An Oak Tree - Infinite Banking Concept Whole Life

49. Earn Dividends Like An Oak Tree - Infinite Banking Concept Whole Life

February 9, 2021

Did you know that you can directly impact the dividends you receive each year by a life insurance company when you own Par Whole life? The policy owner has the largest impact on the dividend they are able to receive in a given year and the ripple effect of every future dividend is directly impacted by the premiums the policy owner puts in. 

 

Dividends are one of the most misunderstood areas of a Participating Whole Life Insurance contract. Jayson and Richard breakdown how these unilateral binding contracts produce dividends. How the dividend impact is just like the growing rings of a tree, it adds another layer each year. Each year you can celebrate a “dividend party” on the anniversary date of each policy you own. There is a great deal of misinformation and focus on rates when discussing policy contracts. Specifically, dividend-scale interest rates. These are, simply put, one of the most misunderstood and misleading areas of a whole life product. 

 

Both the insurance companies themselves and often advisors are their own worst enemy by trying to indicate the dividend scale correlates to the growth or earnings of an individual contract. This simply isn't so. Jayson discusses the annual testing requirements for capital adequacy (LICAT) that has to be done each year for each life company in Canada to meet their obligation and how their accumulated profits are spread out over a number of years to create a “smoothing effect”. This smoothing is what creates stable long term dividend payouts to par owners. 

 

Have you ever seen a tree contract in nature? Never, just like a par policy it grows every year advancing forward. The only thing that can end the growth is the natural death of the life insured in which case you have a tax free payout much greater than what you have contributed into the system or the policy owner choosing to cut the tree down (closing the policy). 

 

Did you know that the biggest tax year you will have is most likely in the year you die? Richard walks you through the impact of your hard earned money at death...who gets the money and who loses? By creating long term cash control, accumulating dividends that keep buying whole life paid up additions, you are ensuring the money is there to pay the final tax bill, providing the time needed to grieve properly. Even more importantly is the remaining assets such as the house and cottage at the lake or rental properties are not forced into a “firesale” position where a lifetime of effort you took to build everything up is torn down to raise the money required to pay the tax man. In order to solve this you need life insurance...but if you plan to live a long time then the insurance has to be in force… the only way to make that happen is to have permanent coverage such a Par whole life that increases your tax free payout every year you own it as long as it's setup correctly. 

📌 EPISODE LINKS:

 

Dividend Tree Image From Nelson Nash: https://wealthwithoutbaystreet.com/DividendTree 

LICAT - Life Insurance Capital Adequacy Test Canada: https://wealthwithoutbaystreet.com/Licat 

Sample Dividend Policy Indicating “The Contribution Principle”: https://wealthwithoutbaystreet.com/Contribution-Principle 

 

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