Wealth On Main Street

Are you paying too much tax? On today’s episode, we have the founder, president and CEO of MrTaxes.ca Inc. Robert Stone has been an income tax professional since 1983. Roberts career began in 1983 while still in high school where he was paid to complete his first tax returns for friends and family. Since then, Robert has formed www.MrTaxes.ca which is a Canadian based federal franchised accounting office which specializes in personal and corporate tax and includes other financial services such as financial planning, insurance, investments, mortgages and real estate. Robert has been a national presenter for www.CCH.ca, was a founding contributor for www.CTPCanada.ca, opened 42 tax service locations by 2015 and is currently leading the franchising efforts of MrTaxes.ca Franchising Inc. across Canada. IN THIS EPISODE, YOU WILL LEARN: 0:00 Introduction 1:53 The mission of Mr. Taxes 3:27 The overlooked ways of how to save tax 8:27 The process Robert helps support his clients with 12:21 The inspiration behind writing The Tax Savings Bible 16:46 Blindspots that Canadians need to be aware of 24:16 Tax advantages for business professionals to leverage 27:22 The issue with capital gains tax for everyday Canadians 29:38 Who Robert wants to be a hero to

Launching Wealth Without Bay Street’s Advisor series, Cole Snell is an advisor with Ascendant Financial. As a career entrepreneur, his work has spanned decades in the Health and Wellness and Specialty Food spaces. Recognizing the common bond of money in all businesses, Cole now aims his sights and passion on the financial industry. He truly has a passion for innovation. Serving people has become one of Cole’s motivations in life as he takes his clients through the same journey of discovering IBC as he went through. He feels the best way to serve others is through the blessing of financial literacy. His goal is to help people who break down the fear of finance. IN THIS EPISODE, YOU WILL LEARN: 0:00 Introduction 2:02 Cole’s discovery of IBC 5:53 How different life would be if Cole discovered IBC as an entrepreneur 8:09 The mindset Cole strives to develop as an advisor 10:27 What Cole is like outside of work as an advisor 12:21 Cole’s recommendation to people considering IBC 14:43 The journey of growth and learning through mentorship 18:37 Improving my level of awareness about IBC 20:44 The favourite moments in a client journey 22:10 Cole’s mission 24:01 Dealing with misinformation about IBC 27:33 Closing remarks for listeners 29:13 Who Cole wants to be a hero to

Get a headstart with IBC. Justin Dubeau started IBC at 25 years old and has now been practicing for 5 years. He works as an oil field operator at an oil field and has a wife and two children. On today’s episode, Justin talks about the benefit of starting IBC early on and being able to purchase life insurance policies not only for him and his wife but also for their two kids in order to ensure that he passes on a wealthy inheritance of knowledge and capital to his children. Death comes inevitably to us all, and having these systems in place can take care of the family financially and allow them to take the time to grieve. IN THIS EPISODE, YOU WILL LEARN: 0:00 Introduction 1:28 How Justin got started with IBC and how life has been since 3:15 The advantages from his first few policies 5:24 The ease of life when you have financial control 6:14 Is it really beneficial to use dividends to pay policy premiums? 11:44 Justin’s message to Wealth Without Bay Street listeners 14:40 The future is exciting when you are practicing IBC 16:09 The worry free life knowing that your kids will be taken care of 19:20 Policies setup for children help to transfer both capital and knowledge 26:49 Who Justin wants to be a hero to

Lawrence W. Reed became President of the Foundation for Economic Education (FEE) in 2008 after serving as chairman of its board of trustees in the 1990s and both writing and speaking for FEE since the late 1970s. He previously served for 21 years as President of the Mackinac Center for Public Policy in Midland, Michigan. He also taught economics full-time at Northwood University in Michigan and chaired its department of economics. He holds two honorary doctorates, one from Central Michigan University and Northwood University. Reed has authored nearly 2,000 columns and articles in newspapers, magazines and journals in the United States and abroad. He has authored or coauthored eight books, the most recent being “Was Jesus a Socialist?” and “Real Heroes: Inspiring True Stories of Courage, Character and Conviction”. IN THIS EPISODE, YOU WILL LEARN: 0:00 Introduction 2:21 The connection between liberty and character 10:36 The importance of personal responsibility in dealing with money 12:36 The power of the entrepreneur 21:57 Stories of remarkable entrepreneurs that have been forgotten 28:22 About Larry’s life and work 35:27 The risk of hyperinflation when expanding money and credit

Get your FREE COPY of THE AND ASSET FOR CANADIANS: www.andasset.ca Have you been led to believe that you have to choose between compounding interest or liquidity control when it comes to finances? In this episode, Caleb talks about the “and” asset which becomes the foundation to an individual's financial management and breaks them out of the trap of making “or” choices and having to compromise. After taking over the entire investment department of a bank by the age of 19, Caleb saw firsthand how 98% of North Americans were financially failing despite “professional” financial advising. After 3 years of travelling the country being mentored by the most successful financial minds, Caleb discovered a better way to build wealth. Leaving his prestigious position at the bank, Caleb founded the company BetterWealth, authored the best-selling book “The AND Asset”, hosts the Better Wealth Podcast, and speaks to thousands around the world. One of the youngest leaders in the industry, Caleb is quickly becoming The New Face of Finance. IN THIS EPISODE, YOU WILL LEARN: 0:00 Introduction 4:01 The inspiration behind writing The AND Asset 12:44 Caleb’s story growing up and reaching where he is now 16:59 The importance of having financial control in your life 23:34 The takeaways from The AND Asset 26:30 Sixteen ideal benefits to a great Asset 34:03 Caleb’s inspiration as an entrepreneur 37:33 Caleb’s message for Canadian’s listening to this episode

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 https://www.equitable.ca/en/already-a-client/dividend-policy-2020/ Stock Company #1 – Dividend Policy https://www.sunlife.ca/en/explore-products/insurance/life-insurance/participating-and-adjustable-policyholder-information/dividend-policy/ Stock Company # 2 – Dividend Policy –https://www.canadalife.com/content/dam/canadalife/documents/insurance/par-whole-life-insurance/en/Policyholder_Dividend_Policy.pdf Fraternal Company # 1 Dividend Policy – https://www.foresters.com/-/media/foresters/documents/pdfs/en-ca/505125-can-us-uk-foresters-dividend-policy.pdf 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