Please take a moment to see if this resonates with you. For 20+ years, I put mine and my client's money into mutual funds. The risk and uncertainty were a constant stress. In 2002, then again in 2008, markets lost about half their value. Were you or someone you know stressed out and frustrated? I was! More than a decade ago, I committed to find a more certain, predictable, and safe way to build wealth before another drop happened again. I found it in the risk management part of my business. ...
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Essential Tools Every Business Owner Needs for Wealth Protection
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Cameron and Scott take a deep dive into the essential elements of building a strong financial foundation. Building on a previous discussion about income and asset protection, they explore how cash value life insurance plays a crucial role in securing long-term financial stability. The duo breaks down the key areas of protection, including income, h…
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Why Prices Keep Rising in 2024: Magnify Your Knowledge on Inflation
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Join Cameron and Scott as they dive into a topic that impacts every dollar you spend: inflation. In this episode, Cameron and Scott explain what inflation really is—beyond rising prices—and uncover the forces that drive it, from demand-pull inflation to government monetary policy. They explore how inflation silently erodes your purchasing power and…
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What Is Infinite Banking? Unlock Hidden Financial Flexibility!
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Cameron and Scott dive into the transformative world of Infinite Banking. Start with an easy-to-understand breakdown of this concept, popularized by Nelson Nash in Becoming Your Own Banker, which empowers individuals to function as their own banker. In this episode, they discuss how Infinite Banking can give you complete control over your finances,…
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This week, Cameron and Scott dive deep into a key financial topic for Canadians—choosing between a TFSA (Tax-Free Savings Account) and Whole Life Insurance. Both financial vehicles offer tax-free growth, but which one is best for your wealth-building strategy? Break down the differences and similarities between these two options, exploring their un…
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What Is Family Banking? | How To Build Generational Wealth Using The Rockerfeller Strategy
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Cameron and Scott dive deep into the concept of "Family Banking" and its role in creating lasting generational wealth. They explain how families, regardless of size or income, can use financial tools like the infinite banking concept to establish a "family bank" that helps fund opportunities, build wealth, and sustain a legacy for generations. Draw…
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Policy Loans Explained! | How They Work and What You Need to Know
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Cameron and Scott discuss how policy loans, particularly in the context of life insurance policies with cash value, can enhance financial strategies. The main concept they explain is that with these policies, you can borrow against your cash value (rather than from it) and still allow the original amount to grow tax-free. Key highlights include: Do…
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HSA Explained: Health Spending Accounts Benefits
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Cameron and Scott dive into an important tax strategy tailored for business owners: Health Spending Accounts (HSAs). This easy-to-implement, tax-free benefit can be a game-changer for both employers and employees when it comes to covering health-related expenses. Cameron and Scott break down how HSAs work, their tax advantages, and how business own…
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RRSP's Explained: Registered Retirement Savings Plan (2024)
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Schedule your FREE clariy call → https://magnifywealth.ca/calendar Hello Everyone! Welcome back to our channel. In today's video, we talk about Registered Retirement Savings Plans. If you have been working and paying taxes in Canada, you must hear about the Registered Retirement Saving Plan. RRSP is a great tool for saving taxes and retirement plan…
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Real Estate Wealth: 7 Ways to Profit from Rentals
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With over 12 years of real estate experience, Scott takes a deep dive into rental real estate strategies that can help you generate long-term wealth. Focusing on the BRRRR method (Buy, Renovate, Refinance, Rent, Repeat) and turnkey rental properties, Scott breaks down seven unique ways you can profit from real estate: cash flow, leverage, amortizat…
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Risks of Retirement and How to Avoid Them: Part 2
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In this episode, Scott continues part two of our series on retirement risks and how to mitigate them. Scott explains how Infinite Banking can act as a "buffer asset" during market downturns, providing guaranteed, tax-free income and protecting your wealth. He also covers the strategy's potential to shield you from rising taxes and help you leave a …
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How Banks Work and How to Become One
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This week, we’re pulling back the curtain on how banks generate staggering returns—often in the range of three or four-digit percentages—all while minimizing risk. Scott breaks down the concept of money velocity and why banks focus on moving money rather than relying solely on compound interest. Plus, learn how you can leverage the same strategies …
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Risks of Retirement and How to Avoid Them: Part 1
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This week, Scott and Cameron dive into the risks people face during retirement. They explore seven key risks, including market volatility, rising interest rates, taxation, healthcare concerns, inflation, changes to government programs, and ultimately, mortality. Scott breaks down how each of these risks can impact your retirement income, particular…
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Rethink your Thinking: Becoming your own Banker
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Hosts Scott and Cameron Gannon dive into the critical importance of shifting your mindset when it comes to financial strategies. They challenge the conventional "follow the herd" mentality and explore the concept of "Becoming Your Own Banker," inspired by Nelson Nash's groundbreaking book. Discover how to break free from traditional financial think…
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Building a Strong Financial Foundation
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Scott and Cameron discuss the importance of establishing a strong financial foundation. Discover why foundational savings are crucial for your financial well-being and learn about how life insurance can play an important role in these savings. Scott shares how saving this way allows you to utilize it to not only be prepared during emergencies, but …
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6 Reasons to Incorporate Before You're Ready
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This week, Scott and Cameron discuss the often-overlooked advantages of incorporating your business sooner rather than later. Drawing from personal experience and expert advice, Scott presents six compelling reasons why early incorporation can be a game-changer for business owners. Learn more about all six: Controlling Your Income Choosing Whether …
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Scott's First Investment Using Infinite Banking
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In this episode, Scott talks about his first investment using the Infinite Banking Concept. Back in 2018, he utilized his specially designed, high cash-value, dividend-paying whole life insurance policy to finance a real estate flip. Scott and Cameron also discuss the additional benefits of using Infinite Banking, such as tax-free growth, no paybac…
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In this week's episode, Scott explores "the problem" with traditional finance in North America, a concept introduced by R. Nelson Nash, the founder of the Infinite Banking Concept and author of "Becoming Your Own Banker:" you finance everything you buy, whether by using your own money and losing potential interest, or by paying interest when borrow…
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Why Control is More Valuable than Rate of Return
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Scott and Cameron talk through the importance of control and rate of return in your financial life. They emphasize the significance of retaining control over your money as often as possible. Ensuring your capital is ready to be used whenever an opportunity or emergency arises takes precedence over chasing a slightly higher number. Magnify Wealth al…
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Scott and his co-host Cameron, both authorized infinite banking practitioners, help you understand what the Infinite Banking Concept (IBC) actually is. Using the concepts taught in "Becoming Your Own Banker" by R. Nelson Nash, they discuss the basics of IBC. The key, infinite banking is a process, not a product or an investment. Scott also highligh…
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Get to Know Your Host: Scott Gannon
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In our first episode, Scott, Head Coach and Founder of Magnify Wealth, shares insights from nearly 30 years in the financial industry. He discusses his journey and the evolution of his business approach. Initially, Scott followed traditional asset management strategies, benefiting from the booming markets of the late '90s. However, market downturns…
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