Early Lessons About Money
Growing up, Richard was known in his family as “the bank.”
He always had cash saved. He lent money to relatives for short periods — long before he understood interest or financial systems.
At 18 years old, he purchased his second rental property.
Running the mortgage amortization schedule for that property changed everything.
When he saw how much interest went to the bank in the first year, it forced a question:
Who really owns the asset?
That moment planted a seed that would later define his career.
Building Discipline: Electrician to Real Estate
Richard became a Journeyman Electrician and studied at the Northern Alberta Institute of Technology. He led crews, managed job sites, and developed a strong work ethic rooted in precision and accountability.
But something felt incomplete.
In 2008, during a period of financial instability, he became a licensed Realtor in Edmonton. He wanted to help first-time investors acquire property and build assets.
He understood tools. He understood leverage.
But he was still operating inside a conventional financial system he did not control.
Discovering Infinite Banking
In August 2009, a colleague — Jayson Lowe — introduced Richard to Becoming Your Own Banker by R. Nelson Nash.
The reaction was not excitement.
It was anger.
Why had no one taught this before?
Why were families sent to conventional financial strategies while this system existed?
That realization changed his direction permanently.
He committed to mastering the Infinite Banking Concept — not as a product, but as a process.
Mentored by the Founder
Richard met R. Nelson Nash in February 2012.
Their relationship grew into mentorship and friendship until Nash’s passing in 2019.
Learning directly from the creator of the Infinite Banking Concept shaped Richard’s teaching style and philosophy.
Nelson Nash once said:
“Anyone learning the secrets of Infinite Banking from Richard Canfield is in very good hands…”
That endorsement carried weight — but more importantly, it carried responsibility.
Richard sees himself not just as a practitioner, but as a steward of Nash’s original message.
His Philosophy
Richard believes the central question in finance is simple:
Who controls the banking function in your life?
Everyone banks.
Very few people control it.
Infinite Banking is not an investment.
It is a process of regaining control.
His approach emphasizes:
Thinking differently about money
Structuring policies correctly
Mastering implementation
Long-term generational planning
Teaching clients how to use the system confidently
Everything begins with mindset.
Why He Teaches
Richard’s mission is to help families build financial continuity.
Not just wealth — but stewardship.
He works best with individuals who:
Want to understand how their money works
Are willing to learn
Value long-term systems over short-term speculation
Care about generational impact
His goal is not quick wins.
It is transformation.
Continuing the Legacy
Today, Richard continues to mentor practitioners, speak within the Nelson Nash Institute community, and educate families across Canada.
But the core remains the same as it was at 18 years old:
Understand the system.
Control the system.
Teach others to do the same.