Is a Bank Really the Best Place for your Money?
If what you believed to be true turned out not to be true when would you like to know about it?
Google and CBC told me today that 46% of Canadians are $200 or less away from insolvency. In other words…bankrupt! What are we doing to ensure the same thing is not happening to our children?
As a seasoned entrepreneur I have had decades of success finding solutions to problems. As a Christian I take great pride in serving the needs of others. Reading the above stat acted as a calling for me. The cost of missed opportunity for families and children has become too great! Something must be done.
The means by which we are advised to manage and build capital are broken. “Open a bank account, buy a home, pay down your mortgage and invest into registered or non-registered savings programs” is what we are all told to do. This must however be a broken strategy if half of the families using it are broke and missing out.
The solution came to me when I discovered the Infinite Banking Concept created by the great R. Nelson Nash. The concept is now 30 years old and growing in popularity by the day. Many consider it to be the fastest growing family planning and financial strategy in existence, and for good reason. Finally, there is hope.
The Infinite Banking Concept is built around a financial product that is much older than 30 years. It has existed in Canada since 1847. Offering protection, control, guarantees, growth, generational wealth and liquidity Nash describes how by taking control of the banking function in our and our children’s lives we have a chance to get ahead.
In the coming months I will be designing a series called Child Millionaire where the Infinite Banking Concept comes to life for your kids. I will show milestones from birth, school, first home, marriage, retirement, and as we leave behind our legacy upon graduation from this earth. Generational wealth is yours and your families all for the price of a coffee per day. The stats need not apply to any Canadian and especially not a child.
Cole Snell, Wealth Architect, Ascendant Financial
