FREE report 7 Simple Steps to Becoming Your Own Banker - http://7steps.ca/
Wealth Without Bay Street EPISODE 127: Today’s episode features Henry Wong again. Henry is a professional CPA who also trains other CPA’s across Canada specializing in taxation and passing through the nationals exams. Today he uses the opportunity to help explain Canadian life insurance landmines that U.S. citizens can avoid.
Henry 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. He 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
1:03 Separating Yourself From The Two Systems
4:54 How Much Tax Does An Average Canadian Family Pay
8:30 The Five D’s
10:04 Using Time To Your Advantage (Defer)
12:38 Misconception of the Lower Tax Bracket
16:19 Design of The Canadian Tax System (Design)
20:47 Defining Your Income (Define)
26:38 Dividing the Income (Divide)
35:38 The Disconnect (Disconnect)
42:15 Other Products Considered Income
🎙️ WEALTH WITHOUT BAY STREET LINKS:
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Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:
https://wealthwithoutbaystreet.com/dayofnelson
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📚 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/
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39. Interest Rates Vs. Interest Volume when Becoming Your Own Banker
38. The Five Phases of The Infinite Banking Concept
37. The True Need for Life Insurance Plus The Power of Infinite Banking
36. The Infinite Banking Wealth Consultant Who Started As A CPA
35. Corporate or Personally Owned IBC Policies in Canada (Infinite Banking)
34. Get #wokebynate and Control The Banking Function
33. The Four Characters in the Financial Play, The Bank Owner, Banker, Borrower and Depositor
32. The Fuel You Need To Reach Your Businesses Vision
31. What is The Perfect Investment? Infinite Banking For The Win!
30. Gaining Financial Freedom With The Infinite Banking Concept - Client Series
29. Nelson Nash’s Final Message For Infinite Bankers with Carlos Lara
28. Infinite Banking Concept And The Cashflow Ninja
27. The Infinite Banking Concept Suits Everyone - Client Series
26. CPA Solutions For A Business Owners Whole Life
25. Client Series - Embracing the Concept of Infinite Banking
24. Client Series - Five Years With The Infinite Banking Concept
23. Client Series - Experiencing The Power of Infinite Banking
22. The Power of Policy Loans
21. Real Estate Investing with Infinite Banking
20. Profit Is A Responsibility
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