TheBloomStrategy is the Pillar of Your Wealth Plan!

We are all familiar with borrowing money and how the use of leverage (debt) can allow us to purchase the things we want right now. I often wonder if man would have walked on the moon by now if it were not for our current banking/debt system? The government just borrowed the money it required and tacked it on to their overall debt, its how all governments work when they are running a deficit. When they don’t have enough inflows in the form of tax collection then they just saddle us and our future generations with debt.

I first experienced this altruistic banking system at the young age of 18. I went to one of the big 5 Canadian banks, (they shall remain nameless) to borrow money to buy my first car. Back then my excellent used car was going to cost me about $1,700.00. Instead of granting me a loan for the balance that I required, the bank gave me a name branded Visa card and advanced me the cash balance to pay for my car. I had no idea what all of that meant at the time but I did have a job and I knew that I could make monthly payments. It certainly did not occur to me that I had just been bamboozled into paying a huge amount of interest (to someone else of course), and that I would have been better served by either being schooled to save and then purchase or at the very least granted a traditional bank loan. It was the banks way of welcoming me to the world of consumption and debt slavery. Round 1 to the banker.

That experience has always stuck around in my head and consequently it is why I have always been skeptical of the banks. It is also why I have spent the last few years searching for a new plan, a shift for the current banking and financial system. One that would truly offer our clients security, flexibility, accessibility and an alternative to the current financial paradigm that we see unfolding around us. It is ironic on some level that I ended up working at ScotiaMcleod, a bank owned brokerage, for a brief period, but that is a whole other conversation.

What I can see now through the years of experience that I have been afforded is the need for a financial pillar, a strong foundation if you will from which to build. It must be firmly grounded and offer flexibility, accessibility, security and tax deferral. It would have to be fairly simple to manage and offer benefits to future generations. If it met those criteria then this would be the starting point in which to build a warehouse of wealth. This is precisely what TheBloomStrategy has been designed to accomplish.

When you are operating TheBloomStrategy you are the bank, you have the control. You decide when you want to borrow money from it and you set the repayment terms. Your money continues to earn a tax deferred return and you have total security…the asset that you have borrowed against is in the form of cash. This is extremely important because it is not susceptible to a drop in market value. You are building a financial wall that nothing can get through. And yes it has great legacy benefits to future generations.

I now look back and imagine how things might be different if I had been schooled with that in mind. Since the time that I bought my first excellent used car, I have purchased 9 different vehicles and I have either paid cash or borrowed the money from a bank. In not one of those instances did I have the ability to recapture the interest I was paying or make up for that loss of capital when I paid cash. In every instance I allowed someone else to reap the rewards of my ability to payback a debt with interest. That game has ended.

At Bloom Strategies “We Have Your Best Interest at Heart”.