Episode 113: Why Building Wealth Feels So Hard – And the Secret to Making It Easier | Whole Life Insurance as a Cornerstone Financial Tool

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What if the secret to building wealth wasn’t about “more money” but about the right tool?

What’s holding you back from using a whole life insurance policy as the cornerstone of your wealth-building strategy?

Many Canadians want to build sustainable, long-term wealth but feel overwhelmed by the complexity of financial tools like whole life insurance policies. You may wonder if it’s too complicated, unreliable, or lacking in flexibility to support your financial goals. These concerns can become barriers that prevent you from leveraging a strategy that could enhance your wealth-building potential.

In this episode, Jon Orr and Kyle Pearce break down the four biggest obstacles to making whole life insurance the backbone of your wealth plan. Whether you’re navigating reliability, longevity, complexity, or optionality, they’ll show you how to overcome these hurdles and use this versatile tool to secure your financial future—without the headaches.

• Understand how to evaluate and trust a whole life policy as a reliable and long-lasting wealth-building tool.
• Learn how to simplify the process, reduce complexity, and work seamlessly with your financial team.
• Discover the benefits of leveraging cash value while maintaining access to capital for investments or emergencies.

Hit play now and discover how to simplify your wealth-building strategy with a whole life insurance policy—your first step toward financial clarity and confidence!

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Resources:

• Dig into our Ultimate Investment Book List
• Book a Discovery Call with Kyle to review your corporate (or personal) wealth strategy to help you overcome your current struggle and take the next step in your Canadian Wealth Building Journey!
• Follow/Connect with us on social media for daily posts and conversations about business, finance, and investment on LinkedIn, Instagram, Facebook [Kyle’s Profile, Our Business Page], TikTok and TwitterX.
• Looking for a new mortgage, renewal, refinance, or HELOC? Reach out to Jon to share some options.

Calling All Canadian Incorporated Business Owners & Investors:

Consider reaching out to Kyle if you’ve been…

• …taking a salary with a goal of stuffing RRSPs;
• …investing inside your corporation without a passive income tax minimization strategy;
• …letting a large sum of liquid assets sit in low interest earning savings accounts;
• …investing corporate dollars into GICs, dividend stocks/funds, or other investments attracting cordporate passive income taxes at greater than 50%; or,
• …wondering whether your current corporate wealth management strategy is optimal for your specific situation.

Building wealth isn’t just about earning more—it’s about using the right financial tools to create a solid, long-term strategy. A properly structured whole life policy is more than insurance; it’s a reliable foundation for your financial planning, offering guaranteed growth, tax advantages, and cash value that’s accessible when needed. It stands the test of time (longevity), simplifies wealth-building (complexity), and provides flexibility (optionality) for everything from emergencies to investments and estate planning. By committing to a tool like this, you’re not just planning for today—you’re building a wealth strategy designed to thrive for generations.

Transcript:

Jon Orr: Today we’re going to talk about the barriers to using a whole life policy as the backbone of your wealth building strategy. Kyle, you’re here with me to kind of talk about these things, but specifically these are the four. I’m going to state the four and then we’re going to go through and unpack each of these four. But the first one, and we’re just going use one word to describe each four just to get going here. So the barrier here for this say backbone idea is reliability, longevity, complexity and optionality. These are the four kind of barriers that we have to overcome when deciding or implementing a whole life policy as the backbone of our wealth building strategy.

Kyle Pearce: I love it. I love it, John. So let’s dig in here. reliability is where we’re going to begin this discussion, knowing and understanding what the tool is and why we’re putting it into play. And, and this is really difficult because the tool can be used at different stages of your life and it can be utilized in different ways, depending on what it is that you’re after. I was actually on a call recently with a client

And by the end of the call, like where this client was stuck was they actually didn’t understand why they wanted to put it in place. They understood a lot of the options that they had to put this tool in place, but they actually didn’t have one specific or it can be more than one, but they didn’t have any specific goal or reason. And that right there can be a full stop for a lot of people. Right. And I articulated to this client that, know what, they probably

don’t need to because they actually don’t know what their goal is. So they really need to understand that, hey, if I’m gonna use this tool, like what are some of the things that I can do with it? Now, starting with it though, is noting that when we fund a participating whole life insurance policy is knowing that you can rely on this tool and you also need to be dedicated and determined to actually fund this thing.

Okay, so this isn’t something that you just kind of like one day decide to do. And then you know, you think I’ll do it and like maybe maybe it’ll be helpful. Maybe it won’t. It’s probably not a good move, right? Like, why would I start funding something because this is a long game like this tool is there to create a foundational asset in your life. Now for those who do not have businesses, those who are T4 employees,

that might start as a base to serve as your emergency fund as we’ve discussed in the past. It might serve as a opportunity fund that I’m gonna put all of the extra money that I have that I’m not quite ready to put into the markets, let’s say, or into investments, but you know that you don’t want this money to just sort of, you know, dwindle away to lifestyle creep. Putting it into a policy can make a ton of sense because now you’re funding something that is still accessible, still giving you options, and you know that it’s gonna be a foundational asset as you move forward.

Jon Orr: Yeah, yeah. And the termination is also, you know, is the important factor or an important factor here in sticking to it because it is not the fad. It is not, the strategy that I’m gonna like dip my toes in and see if it works. We have to really understand why this works, how this works and go through that learning, you know, to make sure that this is the right tool for us because once we start, we have to stick.

to And that might scare you. Like that might be like, I’m not ready for that. And if that’s true, and if that’s the case, then it just means you need to dig a little bit more to see what the learning is required, what learning is required for you to decide if this is the right tool. Because we can argue for a lot of people who are, watching this right now or listening to this right now, this can be the right tool for you. You just have to decide how to use it. And that’s part of that determination.

is doing the learning, getting the knowledge that’s required, but then deciding like, is something that I’m going to stick to as part of my strategy. It’s not the, I’m just gonna toss this away later on. Now, if you do, you do, but this is something that will build your wealth strategy. It will be the backbone, but you have to say, I’m determined to stay with the course.

Kyle Pearce: Right, right. And you know, I like to speak to our, know, we just chatted about someone who’s maybe a T4 employee and they’re looking to start small emergency fund, or maybe it’s going to represent their safe fixed income portion of their portfolio. That can be a great use for it. So if you have money that sort of sits in, in bonds or in GICs and part of your asset allocation, totally makes sense to go, you know what, I’m going to build this foundational asset over here.

I’m going to get similar outcomes without the risk of the bond market by putting it over in this bucket. And I’m going to open the door to all kinds of other opportunities later, be it leverage strategies, as we’ll discuss, or just simply helping out the estate down the road. If you never choose to utilize that bucket for lifestyle income or investment for our business owner friends, this tool becomes increasingly more important for them, right? And getting

determined getting dedicated to doing this strategy can be really important because the money that we earn inside of our corporation, especially that active income is taxed at a favorable rate. And this tool provides you with a spot, a bucket that you can reliably put your cash into. And we like to think of it as a pass through structure that we put these dollars here and it’s there for now.

but it’s not necessarily there forever. But the key is, is that it could go there forever if you chose, if that’s the type of asset class you’re after, you’re going to shelter that money from passive income taxes, which are 50 plus percent here in Ontario and very high in other provinces as well. It’s going to grow conservatively. And you know that you have optionality to still access that capital, be it for a business emergency, business growth,

investment or potentially as that policy grows using personal income strategies that can be structured around it. This is a really important tool specifically for that money that I always like to say is sitting under the corporate mattress. So what I mean by that is money that is sort of there and it’s sort of that quote unquote just in case money.

that you have and it usually is not doing a whole lot. Sometimes it doesn’t even get into say a GIC, which again would be taxed at 50 % on the, on the interest that you earn on it. They don’t even put it in there because they’re like, I just don’t know if I’m going to need this money. Well, this can be a great structure for that money. That sort of sitting there under the corporate mattress, it acts like a business emergency fund. And the longer we fund this policy,

the more you can start shifting towards some of the other strategies that we’re going to be discussing here in this particular video.

Jon Orr: All right, so let’s shift from reliability right into longevity because they go in a way hand to hand and hand in hand because if we’re if we are going to be determined if we are going to stick we are going to be reliable to this tool and continually use this tool we often now want to ask the question. Well, and this is this is the question we ask about probably any say long term wealth building strategy is how long is this going to be available to me? Like, do I have to worry about, you know,

it being there 25 years from now. Like we think about that with the stock market, like the stock market gains, you know, on average give you good gains over the course of the long term. So we think about that when we start to design strategies around using that asset, you know, and those asset classes as part of your strategy. When we start thinking about say, let’s say you were investing in real estate, you know, and you’re thinking about that as part of your strategy, you’re going, Hey, what’s the longevity here on what I’m trying to do? And will that be okay down the road?

You know, you start to take risk on or risk off when you maybe say, thinking about like, maybe I’m going to lend money out and privately into private businesses and then be like, what happens if that business fails in five years, three years, 10 years, like longevity barrier to our strategy is real. And we have to ask those questions. But when you think about this particular tool, it’s there.

right, it’s going to be there and it’s been guaranteed, you know, it’s, in a way guaranteed to be there and it has been there for the, you know, the companies that offer insurance, you know, whole life insurance policies have been around for say, many, many years and that strategy does last. Now the other question, Kyle is because you likely aren’t say running out in buying say this policy. Now, if you did, you went to, let’s say you went to any sort of financial institution and say, organize this.

One is it’s probably not gonna be organized in the way that you want so that it’s a wealth building tool, the way that we are talking about here. But then the day you step into that financial organization and ask for this tool, they might be like, sure, let’s set this up for you. And all of a sudden, now you have the tool the way you think you’re gonna use the tool for the long term. But then if anything you have any questions or any sort of like, I wanna make a shift or a change, it’s like, who do I call when I call that financial institution? It’s like that person’s switched.

So like the longevity question isn’t as not necessarily as how long that in the barrier we have to overcome is how long is this tool going to be around? Like, is it going to go away or are things going to change in the future? But who’s there with me during the long term? Because that’s a barrier for the work that you get or getting into because of your liability, because of your termination, if you’ve got over that barrier, you’re now going like, well, what happens at 10 years? Like is the person that I’m talking to about this tool. going to be here, right? And it’s all about kind of making that selection.

Kyle Pearce: Yeah, for sure. For sure. And you know, and that’s a question that we often get from people is like, like even a when I’m on a call with a client, they say, Kyle, like, are you going to be here in in 10 plus years? Well, two things and two sort of, you know, answers to that question is, yes, that’s the plan. But we also have a team that we work with, right. And the key is, is that you’re not just finding one person that understands this process. We’re also focusing on educating

all throughout, meaning you’re not blindly taking, you know, a life insurance policy off the shelf and running off into traffic, as I say, you know, sending children into traffic. That’s not the goal here. The goal is that you actually understand how the tool works and how you can use it. We’ll talk a little bit about optionality coming up, but the key is, is that both you need to have that understanding so that no matter what happens in the future, because let’s be honest, we don’t know.

what 10 years from now will look like. Will I still be here on this planet? I sure certainly hope I am, but that’s not a guarantee, right? None of those things are guarantees. So knowing that you’re working with the team that understands and can craft these policies in a way that’s gonna put you in the best situation possible to help you solve as many problems as you can from a wealth building perspective, including estate preservation is a really important key here.

And what we want to do all throughout the process, both before someone puts a policy in place and onward as you continue utilizing and funding those tools is to continue growing your understanding so that essentially you’ll be the main person because you understand what it can do, what it can’t do, why you might consider one thing over another. And we will be here as a team to be able to help you and support you. So

making sure that you choose someone that’s going to be sticking along with you on the journey. One way you can analyze that is how well are they preparing you ahead of the start of the journey? And you’ll notice when folks hop onto a discovery call with us here at Canadian Wealth Secrets, what you’re gonna find is that we are educating you so that you can make the decision where at the end of the day, we love it when a client says, this is a no brainer, I want to move forward.

That usually is a nice indicator for us that there is a solid understanding. Doesn’t mean the learning is done. And as you put that policy in place, we can continue to support you so that you become more strengthened in your understanding and your flexibility of how this tool can move forward. So let’s pretend that I wasn’t there or John wasn’t there or any other member of our team suddenly disappeared, that you’re not looking at this thing going.

Why did I do this in the first place? Like that’s the key piece here is about getting that understanding to a level where you can confidently look at and say, you know what, I’ve got a plan and I know that it can be used for X, Y, and Z. And that’s how I plan to use it. Those plans might change in the future. And if those plans do change, you’ll understand what other optionality you have.

Jon Orr: Now, part of the longevity kind of barrier is, especially when you’re designing a wealth plan and a strategy for the long term, for the backbone of the work that is coming, is your natural question is because one of the reasons you’re here learning about this is to see if there’s any sort of tax implications that you can optimize. So the question we ask is what happens in the future? If this tool, like what happens if the rules change, Kyle thoughts on the tax rules changing in the future.

Kyle Pearce: Yeah, you know what? It’s a great question when it comes up a lot and it’s important to think about those things. And the one thing that we can say is that as long as what I say is that you need to play the game as the rules are written now and you need to understand the what ifs if the rules did change. Now, do I anticipate them to change in any strong way when it comes to how insurance is taxed? I personally don’t, but that’s a personal

opinion here, right? I can’t give any sort of probabilities there. But the reality is, is that as long as we’re following the rules as the written now, and we understand the what ifs. So what ifs is important, because here’s the other piece is like, imagine that, you know, it’s possible that the capital gains lifetime exemption on your house on your primary residence, it could change. Like, what would you do if it did change? And you need to have that in your mind to go

What would I do? How would I play that out? So understanding that rules can change is important, but also not allowing the unknown of the future limit you from playing the game that you’re in now. I believe, and this is a personal belief, that we wanna take the rules we know today and we wanna situate ourselves to best optimize our situation based on those rules. And if and when things do change in the future, we pivot.

right? We pivot to address it because the reality is, is that that rule change may never come. And if that rule change never comes and you chose not to because it might change in the future, you’ve left a massive amount of wealth opportunity on the table.

Jon Orr: All right, let’s take that, because I think that’s a great segue into the fourth barrier here, which is complexity. And when you think about complexity, one of the things, when we think about tax rules, like what you were talking about there is thinking about the future and being able to adjust and pivot. I heard this quote recently about the goal, the goal isn’t to have this comfortable life, like this like, hey, stress-free, stress-free would be great, but like,

stress-free, problem-free life. We all kind of want that in our retirements, or we want this for the future. But it’s like, the goal shouldn’t be to have this dream, kind of like, have no problems life. The goal actually should be to build your skills up, and build your learning up, and build your, how you tolerate or deal with those types of stresses or problems, so that they’re actually.

not real stresses and problems. Like they’re not, you’re never going to get rid of problems. It’s about swapping for problems. And then also being like, I have the skills and the tools ready at my like fingertips to like that I can handle any problem that comes my way. And it’s actually stress free because I’ve learned along the way. So when you think about that, if I move into the fourth component about complexity, like this question we were asked recently from a client, which was like, Hey,

If I go down and I set this structure up and I use a whole life policy and I, you know, I’m gonna have to call my accountant and is it gonna be like me talking to my accountant every other day or every other week? Like how much paperwork do I have to do? Like I do not want this complex structure for this wealth building plan and this wealth building tool. Like this is the barrier that we often think about is like, okay, I want to have like this back.

bone that allows me to have access to capital, it allows, you know, deals with taxes, it deals with legacy, deals with, you know, ready-made, ready-made or ready solutions right off the bat, like having access to that, that cash value, but I don’t want to have to like make it hard, you know? So, so Kyle, how did you handle that situation when that client asked that question?

Kyle Pearce: Yeah, these are great questions. And like, I want to talk in two areas. So I want to talk on the personal side versus the corporate side. So somebody in the personal world, in the personal realm that decides that a permanent life insurance policy is helpful for them as an opportunity fund, emergency bucket, and or a estate plan. Because keep in mind, it’s already like you get that whether you like it or not, right? You’re going to get a tax-free death benefit.

super simple on the personal side. Okay. And the reason why is because this is after personal tax money off of your T four or wherever you’re getting this income from and you’re putting it into this policy. And basically one of two things, well, I guess one of three things will happen. You either cancel, get all your cash value back. And if you cancel at a point where there’s a gain on that, you’re going to pay tax on the upside, right? That’s just how that works.

That’s not the goal is to cancel a policy, but if that happened, that’s what would happen. The second one is you could leverage against the tool. Now the beauty is, is you could leverage directly from the insurance company or you could go to a third party lender. If there’s enough cash value there, third party lenders love it. The big banks, all of these different, you know, they’re, basically giving you money that’s secured against a bucket of money. They love it. Nothing really to book there unless

you’re using that money for say investment. Well, I’m going to have to do the same type of bookkeeping that I would be doing with any other type of leverage strategies for investment. Smith maneuver would be one of them. That’s an easy one to sort of think of is I do have to track the interest that like that’s that’s part of the game. If you want to maximize that tax deduction that makes sense at the end of the day at the end of the day at the end of our life when this thing pays out, it’s going to pay out tax free.

So on a personal side, the bookkeeping idea, you know, scenario is fairly easy because the money that goes in the policy, I don’t have to really tell anybody. I don’t have to book that in my accounting or anything like that. You should have it in your budget. leveraging against it is going to be just like any other leverage. If you’re putting it into say investments and you’re going to be writing off interest, same deal. And then finally the death benefit is going to pay out tax for you. So that actually makes your estate process.

much easier like the probate. It’ll actually come out outside of the probate process, which is fantastic. You can even pass a policy, a policy owner from one to the next. When you pass on, you could pass the entire policy before it pays out outside of probate. So there’s a lot of great things that actually make it less complex on the business side. It’s fairly simple as well. I’m going to fund this policy with after corporate tax dollars. So

If you’re in that first $500,000 of profit, you’re paying with 12.2 % taxed dollars. Like that’s $0.88. Like that’s amazing. There’s really nothing to do here except in your books to show this money is going into the policy. And now the cash value is gonna show up as an asset on the balance sheet. Pretty basic stuff. At the end of the year, we get a report, we get a in-force illustration.

from the insured telling us how much cash value is there so we can update what the assets balances or what it’s worth on the balance sheet. Very, very simplistic. All of the leverage works in a very similar manner. So if you’re tracking for interest and using that as an expense for an investment, yes, you do have to track it, but you’re gonna have to do that regardless if you’re writing off interest against any assets.

that are investments inside the company or outside. And at the end of the day, when this thing does pay off, it’s going to pay out tax free to your corporation. And what they call the capital dividend account will get a tax free credit for shareholders to take out the vast majority of that death benefit. Sometimes all of the death benefit tax free, very simplistic.

It does require though that your accountant understands how insurance works inside of a corporation. So that’s a one time sort of explanation. Accountants come on calls with us all the time just to make sure they understand what it is and how it’s booked, but it is not super complex. And when we look to personal leverage strategies, these are things that can add a little bit of nuance, but again, it’s mostly upfront learning.

that needs to take, you know, to take into account before putting it in place and ensuring that your accounting team is on the same page to make sure that everybody’s clear on the strategy and the structure before it’s set into place. But this isn’t an ongoing sort of nightmare scenario that has to play out even if you’re using fairly complex leverage strategies against a corporate owned life insurance policy.

Jon Orr: All right, let’s move into the last barrier here, or the fourth barrier that we’re bringing up here today is optionality or access to capital. there’s a couple things here that I want to state about what this particular barrier is kind of, you know, bringing up because we have to, we have to not only like go back to like the longevity, the reliability, like our purpose, like when we, when we have this particular tool as the backbone,

Are we looking to use it for access to capital? Are we looking to use it for estate planning? Are we looking to use it to grow my wealth in a tax-free manner? think making sure that we know the optionalities we have around here about using the cash value bring up questions. A few questions, one being like, am I okay with leveraging against the cash value, which means I have interest, say now to pay if I say borrow money against the cash value.

to say put into an investment like real estate or like the stock market or like blank. So I have to first be okay with say leveraging against that and just having that mindset that leverage is there and the borrowed funds is out there and I now have say this interest bill that I can choose to pay. And I think that’s part of the optionality as well. But I have to have a mindset, this is the barrier part, I have to have a mindset that leverage is here.

if I’m going to use it in that way. Now you don’t have to use it in that way, but if you do on this wealth building strategy, and this is probably what we would be talking about on our calls of how to make sure that, or how to use this in this efficient way, is that we have to be okay with the leverage. But then also, this is, again, this goes back to the complexity. It’s like, well, how does that even work? Like, how do I borrow the money and what does that even look like?

Kyle Pearce: Yeah. Leverage, whether it’s at the personal level or if it’s in the corporation, the one thing about it in order to get your head wrapped around, and we always say like, you really have to have a mindset shift and you have to be comfortable with the idea of leverage. Now, a lot of people who have done Smith maneuver, or maybe you’ve listened to the many episodes we’ve done on the Smith maneuver, some people that are like comfortable with this idea, it it’s almost like

super simple when it comes to an insurance policy being the actual collateral. Because when you do Smith maneuver, you’re doing that against your primary residence, right? And you’re doing it to create a tax deduction. People are borrowing against the thing that they live in that they probably like and that they would feel nervous with a big debt against it, right? They know that this thing has debt on it. It has a mortgage or it has a home equity line of credit against it. And

If things were to get tripped up, I could potentially lose my home, right? Like that is what’s on the line there. So for Smith maneuver, that could be really hard on people’s minds, even if they want to be pro good debt. With this, I would argue that it’s actually a whole lot easier on your mindset, even though the idea of debt might still be scary, because debt just sounds scary. And as good humans, we know we want to repay our debts. That’s just what we do.

But the beauty is, that you’re actually collateralizing against this bucket of cash known as the cash value of your policy. Meaning when you borrow, you’re not going to be able to borrow more than the cash value that’s in that bucket, just like you couldn’t spend more than the money that’s in your bank account. So if you think about it, they’re kind of the same thing, but we’re going in opposite directions. Now,

Some people are saying, well, actually, if you have overdraft protection, you can actually overspend on your account. Well, here you’ve got built in safety that you know what the cash value is. So when I leverage against it, I can leverage all the way up with the insurance company, up to 90 % of the cash value with private lenders, big banks, whoever you go to, it might be as, as high as a hundred percent of the cash value. But the reality is, is that you’re basically borrowing against

the money that’s sitting there in this separate asset. So basically you’re looking at this as like it’s almost like a fictitious home that’s sitting there and you’re taking the equity from that home so that you can have your money working in more places than once. The cash value is going to continue to accumulate even though you’ve leveraged against it. And there’s a death benefit that pays out and it’s always greater than the cash value until

age 100 at age 100. They finally become the same value, but the cash value will never be higher than death benefit. So it’s like a built in safety plan for you. If you do leverage and let let let’s talk about what would happen if like you did leverage and you couldn’t pay it back. Well, if it’s from the lender from a private lender, then the private lender is going to take the bucket of cash. That’s what they’re going to do. Your policy will get canceled.

they will take the cash value and you walk away. We don’t want that. You don’t want that. No one wants that. But if it’s from the insurer, the insurer is going to continue to hold that loan until death, until that death benefit pays out the cash value and interest owing. Now there is a like outside chance that let’s say you borrowed all of the cash value and the interest and you never paid any of the interest back that you might get to a place where the insurance company will

cancel the policy and they’ll take the bucket of cash. But the alternative would have been taking this money out of your bank account and drawing it all the way down to zero. And it just stays at zero. You’re in net the same place in a worst case scenario, except you may or may not have made this other investment that’s out there. Like, so you’re actually likely going to be in a worse spot.

Jon Orr: Now on the business side or the corporation side, there are many advantages to the leverage and leveraging against the cash value of the policy, which is inside the corporation for say specific tax benefits. We’ve done a few episodes on our podcast specifically to address that concern and what that looks like. So I’m going to do a quick recap here of the four

barriers that you know we think about when we’re trying to decide or use a whole life policy as the backbone of our wealth building strategy. Those four are reliability, which is dedication and determination. I’m really asking the question, can I keep this up? Am I dedicated to keeping this up? And can I rely on this tool as the backbone? And we’ve answered that here. The second is longevity. Will this strategy last?

Will my advisor be here? Can I choose someone who is on the journey with me? And can I make sure that I am dedicated as well to making sure that I stick to this as a long-term strategy? Because it is a long-term tool, a long-term strategy to build your wealth. And if you do stick to it, you will see massive benefits over the course of the timing that you’re looking to.

use this particular tool and strategy which is mostly over the course of your life especially into say retirement. The third is complexity. Thinking about how complex this structure is. We’ve answered that here. It’s not a complex structure personally or on the corporate side when we think it might be. We think hey if I’m gonna use this for leverage or I’m gonna use this for my wealth building strategy it sounds like there’s going to be paperwork and accountants involved.

It is not, say, the case here specifically. It is less complex than you think. And the fourth is, say, optionality and access to the capital. And how do I leverage against that capital? Or how do I leverage against that cash value and thinking about and being OK with the idea of leverage, being solid in the idea that I’m making a sound financial decision to capitalize on the arbitrage.

between my investment and what the interest is going to be. And Kyle has given you some very specific cases where when the interest grows, the cash value grows, the death benefit is there, it is a very, very safe asset. And there is actually no risk that this particular cash value decreases in value. It will always increase every single day. is guaranteed to do that. So those are the four barriers that we often think about when deciding if this is the right backbone tool for us.

Hopefully, you’ve got some ideas to kind of consider that this is the right tool. I know it’s the right tool for us and it’s been the right tool for many of our clients to help design their strategies. And if you are thinking about that as being a tool, then reach out to us at Canadianwellsecrets.com for excess discovery. And we can hop on a quick call to see if this is this is the right tool for you. It is not the right tool for everyone. So we will say that.

If this is the first time you’ve listened to one of our episodes, then we encourage you to hit that follow button or that subscribe button so that you get notified of our episodes. put them out every Wednesday and Friday. So make sure that you subscribe there and you’ll get notified of the new episodes. always talking about how to build your wealth as a Canadian investor, entrepreneur or business owner and how to structure that optimized way to save on taxes, but also say grow for the future. If you’ve listened to this episode or

If you’ve listened to our podcast episodes before, then we welcome you back. But we encourage you to leave that rating and review and let us know what how has say that particular episode you’ve listened to impacted your decision making process or impacted your wealth building journey. We would love to hear that.

All right, Canadian wealth secret seekers, we’ll see you next time. And just as a reminder, the content you heard here today is for informational purposes only. You should not get through any such information or other material as legal, tax, investment, financial, or other advice. Kyle Pierce is a licensed life and accident and sickness insurance agent and VP of corporate wealth management with the PanCorp team, which includes corporate advisors and PanFinancial.

Canadian Wealth Secrets is an informative podcast that digs into the intricacies of building a robust portfolio, maximizing dividend returns, the nuances of real estate investment, and the complexities of business finance, while offering expert advice on wealth management, navigating capital gains tax, and understanding the role of financial institutions in personal finance. The show also digs into the underutilized corporate owned life insurance as a wealth building and Canadian tax planning tool through the use of participating whole life insurance that can not only resolve the issue of removing the income tax target from the back of your corporations retained earnings and put more money in your personal pocket both now and in the future.

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