Control and Compound with Darren Mitchell

On this week’s episode, Darren and Christina are back with another installment of the Nelson Nash Series. In part 7, they go over page 65 in the book that talks about the capitalizing and implementation of your banking system. They also chat about how to store your money properly before investing. Tune in now!

Show notes:

00:00 - Introduction

2:00 - Capitalizing our systems

6:00 - How does the infinite banking concept differ from traditional investing?

12:00 - How do I start using the infinite banking concept?

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On today’s episode, Darren and Christina are chatting about the lifetime capital gains exemption that can be used by small business owners with a corporation among others to save on some of the tax when selling. They chat about how the exemption works, who’s eligible, and different ways you can apply it. Tune in now!

Show notes:

00:00 - Introduction

1:40 - What is the lifetime capital gains exemption?

5:30 - Assets that will qualify for the exemption

6:15 - Looking at example of selling a business with lifetime capital gains exemption

10:30 - Can you multiply the capital gains exemption?

12:05 - What is a qualified small business?

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On today’s March Update, Darren and Christina have a lot to cover! Including updates on interest rates, the stock market in Canada and the US, Bitcoin, as well as life insurance industry news and a new tax on flipping in BC that doesn’t exactly seem all that thought out. Tune in now!

Show notes:

00:00 - Introduction

1:20 - Bank of Canada / Interest rates update

3:40 - Is Canada in a recession?

6:25 - Stock market update

7:35 - Bitcoin update

10:55 - Real estate update

18:20 - Life insurance industry news

20:00 - Update on the economy

22:20 - Control and Compound company news

26:20 - Control and Compound podcast news

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On today’s episode, Darren and Christina are breaking down the high cash value participating whole life policy and how the wealthy use it as an asset class. They go through the pros and cons of using the infinite banking strategy and break down what it looks like using a fixed income investment vs. the participating whole life. Tune in now!

Show notes:

00:00 - Introduction

2:15 - Designing your portfolio like the wealthy do

4:10 - The PROS of a high cash value participating whole life policy

13:45 - Example of a GIC (fixed income investment) program vs. participating whole life

21:50 - The CONS of a high cash value participating whole life policy

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On today’s episode, Darren and Christina are breaking down the high cash value participating whole life policy and how the wealthy use it as an asset class. They go through the pros and cons of using the infinite banking strategy and break down what it looks like using a fixed income investment vs. the participating whole life. Tune in now!

Show notes:

00:00 - Introduction

2:15 - Designing your portfolio like the wealthy do

4:10 - The PROS of a high cash value participating whole life policy

13:45 - Example of a GIC (fixed income investment) program vs. participating whole life

21:50 - The CONS of a high cash value participating whole life policy

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Darren and Christina are back with part 5 of their Bitcoin series and in this episode they’ll be going over how Bitcoin is taxed in Canada and depending on certain scenarios, how does CRA classify Bitcoin. Tune in now!

Show notes:

00:00 - Introduction

2:25 - How does the CRA classify Bitcoin?

5:45 - How is Bitcoin taxed at different price points?

11:10 - Is there any way to reduce or eliminate the taxes on Bitcoin?

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On today’s episode, Darren and Christina are breaking down the capital dividend account? Are you a business owner and you’re trying to figure out how to get money out of your corp without paying way TOO much in tax? Well this episode is for you! They go through everything you need to know about the CDA as well as an example of how it works and why pairing it with life insurance can supercharge the account. Tune in now!

Show notes:

00:00 - Introduction

3:45 - What is the capital dividend account (CDA)?

5:45 - What funds the capital dividend account?

9:35 - How does the CDA work with life insurance?

17:35 - Example of impact the CDA can have

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On today’s episode, Darren and Christina are breaking down the RRSP and go over some features that a lot of people may have overlooked! They answer questions like “is an RRSP tax deductible” and “do RRSPs grow tax free” among others and compare the RRSP to other savings vehicles that are necessarily attached to the government. Tune in now!

Show notes:

00:00 - Introduction

4:15 - Is an RRSP tax deductible?

5:20 - Do RRSPs grow tax free?

6:15 - Would you rather have 1 million in an RRSP or $700,000 in a non-government investment vehicle?

7:25 - Planning to retire in a lower tax bracket??

9:45 - Working out the math behind the RRSP

17:25 - Spending the money in your RRSP

25:30 - Characteristics of an ideal investment: does the RRSP check all the boxes?

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On today’s episode, it’s the February update and Darren and Christina are going over everything you need to know including where interest rates are heading this year, the big news for Bitcoin, and where Canada’s real estate market is headed, among other things. Tune in now!

Show notes:

00:00 - Introduction

1:15 - Bank of Canada and interest rates

4:25 - Bitcoin update

6:40 - Real estate market update

10:45 - Canadian economy update

15:10 - Industry news: Dividend announcement

18:50 - Control and Compound news

20:45 - Podcast news

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On today’s episode, Darren and Christina break down the characteristics of the ideal investment including things like growing tax free, available at all times, separate from the government, etc. You might be surprised that the ideal investment or at least something very close to it actually exists and Darren and Christina are going to tell you about it!

Show notes:

00:00 - Introduction

1:30 - What is an investment?

5:25 - Characteristics of the perfect investment

15:30 - Is a high cash value life insurance policy the perfect investment?

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On today’s episode, Darren is joined by Ken Dunn, an expert in fundraising and real estate investing. Darren and Ken chat about how Ken got his start in real estate, what led him to where he is today, and they talk about specific projects he’s working on in the cottage and resort industry. If you’re a new real estate investor and you want to know how to raise funds for your projects, you do not want to miss this episode!

Show notes:

00:00 - Introduction

1:40 - Ken’s background and how he found his way to where he is today

5:55 - How did Ken get into resort and cottage rentals?

8:05 - What criteria is Ken looking for when purchasing a resort?

12:50 - How does Ken finance a resort?

21:05 - Ken’s hot tub company story

23:45 - Ken’s advice for a real estate investor who’s about to start raising funds

27:30 - Best way to contact Ken

FIND KEN ON:

WEBSITE: https://www.KenDunn.com

YOUTUBE: https://www.youtube.com/@kendunnCDV

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On today’s episode, Darren and Christina are breaking down part 6 of Nelson Nash’s book “Becoming Your Own Banker”. They go over pages 48 and 49 which covers how to “expand your infinite banking system” to accommodate ALL of your income. You don’t want to miss this one, tune in now!

Show notes:

00:00 - Introduction

3:30 - Setting up your policies properly

7:50 - “Expanding the system”

10:20 - Long term look at having multiple policies

14:20 - Example of business owner with multiple policies

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On today’s episode, Darren and Christina are talking about all things passive income including the new taxes, the rules of passive income, having passive income within your corporation, and solutions to lowering or even getting rid of tax on that income. Tune in now!

Show notes:

00:00 - Introduction

1:30 - Breaking down the new passive income rules

7:40 - The rules of passive income

11:00 - Solutions to mitigating the passive income tax

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On today’s episode, Darren is joined by the Condo King, Simon Yan. The two chat about how Simon got involved in real estate, what led him to flipping condos, how he has found success in that area, and why he’s now become a mentor to share his wisdom to aspiring real estate investors/condo flippers. Tune in now!

Show notes:

00:00 - Introduction

00:25 - How did Simon first get involved with real estate?

3:20 - What does a typical condo flip look like?

4:20 - Finding the best condos to flip

6:20 - Process of buying a renovating a condo

12:45 - What type of technology/tools is Simon using to determine a condo’s worth?

15:00 - Are there any unique challenges with condo flipping compared to traditional house flipping?

17:10 - Why did Simon start a mentoring program to share his wisdom?

21:05 - Are there special permits Simon needs to get for condo flipping?

22:40 - Is there a fear that the condo market will drop?

28:15 - Does Simon have a particular type of condo he likes working on?

29:50 - Example of one of Simon’s condo flips

32:05 - Simon’s advice for new condo flippers

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Happy New Year everyone! On the first episode of 2024, Darren and Christina are going through their predictions for the year including whether or not we’re heading for a recession, interest rates, inflation, as well as Darren’s take on bitcoin, is it officially back?? Tune in to find out!

Show notes:

00:00 - Introduction

1:40 - Prediction for 2024 interest rates

4:25 - Will Canada go into a recession in 2024?

6:00 - Prediction for inflation in 2024

7:20 - Prediction for the stock market in 2024

8:55 - Prediction for Canadian housing market in 2024

12:10 - Prediction for Bitcoin in 2024

14:40 - Christina’s prediction for AI in 2024

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On today’s episode, it’s Christmas day and it also happens to be episode 100!! Darren and Christina go over the past year and talk about setting goals for 2024 and the best methods you can use to reach your goals. Tune in now, we’ll see you in 2024!

Show notes:

00:00 - Introduction

1:30 - Reflecting on 2023

4:15 - Setting goals for 2024

6:45 - SMART goals

9:20 - How thoughts can directly impact your behavior - MINDSET

14:15 - Cultivating a growth mindset

15:40 - Accountability and support

19:05 - Control and Compound’s goals

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On today’s episode, we’re one week away from Christmas and Darren and Christina are chatting about whether or not you’re too old for infinite banking. The short answer is you’re not, but the two break it down a bit further and talk about what ages make the most sense and how you can get the post out of your life insurance policies at whatever age you may find yourself. Tune in now!

Show notes:

00:00 - Introduction

1:20 - What is infinite banking?

5:00 - Am I too old for infinite banking?

12:05 - What happens if I start a policy later in life?

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On today’s episode, Darren and Christina are back for part 4 of their Bitcoin series. They compare how bitcoin works in comparison to online banking as well as the difference between a cold wallet and a hot wallet, and of course the steps you need to take to make sure your bitcoin is protected and secure. Tune in now!

Show notes:

00:00 - Introduction

3:00 -  Bitcoin vs. online banking

6:45 - Hot wallet vs. cold wallet

15:20 - How secure are cold wallets compared to hot wallets?

16:05 - What happens if hardware becomes obsolete?

17:10 - Can a cold wallet be used for daily transactions?

17:35 - How do you recover funds if you use a cold wallet?

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On today’s episode, Darren chats with Danielle Chiasson. Danielle is a real estate investor, entrepreneur, and coach who runs the company Strategic Success Consulting. The two chat about Danielle’s background and how she’s helping business owners in many different ways find success. Tune in now!

Show notes:

00:00 - Introduction

00:45 - How Danielle works with and helps other business owners

4:20 - Challenges that businesses face in 2023

9:00 - Setting realistic goals as a business owner

12:00 - How Danielle balances helping others while continuing to improve herself

15:25 - Work/life balance as an entrepreneur

18:55 - Life insurance policies and why you need to talk to Darren about it

19:50 - How Danielle is using new technologies to help businesses succeed

22:50 - What types of businesses does Danielle work with?

25:45 - Online courses and other resources from Danielle

Danielle Chiasson is a serial entrepreneur in residential redevelopment and rental housing in Ontario. With a wide range of projects, from light clean-ups to full renovations and legal conversions, Danielle has demonstrated her expertise. As a general contractor, she manages trades and staff, handles finances, and continually educates herself and others. Additionally, Danielle is a passionate coach, sharing her knowledge through speaking engagements and online platforms to help investors reach their financial goals. Despite her busy schedule as a proud mother of three, she remains dedicated to supporting entrepreneurship and empowering others in business and real estate through the monthly networking events she hosts.

FIND DANIELLE ON:

INSTAGRAM: www.instagram.com/danielle.chiasson 

FACEBOOK: https://www.facebook.com/danichiasson  

WEBSITE: www.strategicsuccessconsulting.com 

LINKEDIN: www.linkedin.com/in/daniellechiasson 

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On today’s episode, Darren and Christina are back for another monthly episode. Can you believe we’re in the final month of 2023?! The two chat about the upcoming interest rate update, interesting industry news in the insurance world, as well as our new segment: What’s in the news? Tune in now!

Show notes:

00:00 - Introduction

00:30 - Bank of Canada rate update

4:45 - Stock market update

5:15 - Bitcoin update

8:20 - Insurance industry news

12:55 - What’s In The news - Fall economic update

19:55 - Control and Compound news

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