Not Your Average Financial Podcast

Episode 378: Inflation: Stocks vs. Bank on Yourself®

November 29, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Are you shocked about how everything keeps going up in price?
Are you surprised about how so many things are shrinking?
Who has debt on the balance sheet?
What about companies?
What about customers?
What about the stock prices?
What about interest rates?
What happens in a recession?
What vaporizes compounding?
What happened to the S&P from 2000-2022?
What are the stated returns?
What is the real return?
What about the investment fees?
Is inflation higher than what is being reported?
What does the Fed believe?
…Would you fire him?
What about insurance companies?
Who came first, insurance companies or the Federal Reserve?
What about bonds?
What about mutually owned life insurance companies?
What about dividends?
How does inflation affect cash value whole life insurance?
What is guaranteed to grow, regardless of any calamity or market crash?
What if they went through hard times… what happens then?
How is this difference from term insurance?
How about an example?
Are premiums fixed for life?
What happens to premiums with inflation?
What about the impact of inflation on stocks?
What about the impact of inflation on whole life insurance contracts?
When do you see the change in dividends?
What is a steady growth vehicle, regardless of inflation?
When do I want my money growing at its most efficient?
Is now a good time to take my chips off the table?
Would you like to join our FREE Not Your Average Community?

Episode 377: Real World Tips for Selling Your Business with David C. Barnett

November 22, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

What percentage of businesses successfully sell at all?
Who is David C. Barnett?
Would you like to hear David on Episode 154?
How about a story?
What are some of the hazards that new business owners run into all of the time?
How did David get started?
What did David learn as a business broker?
What does David do now?
What needs to happen for a fair deal to occur?
What are the reasons people need to sell businesses?
What do most sellers fail to realize?
What is aspirational pricing?
How has the internet changed the way buyers conduct research and due diligence?
What happens when you are excited and energetic about your business?
What happens when you start to feel fed up, have pressures or health issues?
What creates a whole series of red flags for buyers?
What mindsets, skillsets or strategies can one employ to prepare to sell the business?
How can you increase your earnings or reduce your own capital tied up in the business?
How is real estate different from an operating business?
How is a business actually a system?
Would you like to read David C. Barnett’s new book, Buying vs. Starting a Small Business: A Guide to Keep You From Going Broke?
Who would benefit from this book?
How does one empathize with the potential buyer?
What is the give and take required in this relationship?
What about seller financing?
What about the need for the buyer to be successful?
What’s it like to work with David?
What are the action items?
Would you like a business valuation? Book a Meeting

David C. Barnett has been working with small businesses for over 20 years. He’s helped them grow, he’s helped entrepreneurs buy and sell them, he’s helped people finance them. David is the author of 8 books about small business transactions and local investing. He’s the host of a YouTube channel with hundreds of videos about buying, selling, financing and managing SMEs and can be found anytime at his blog site www.DavidCBarnett.com

Episode 376: [Client Spotlight] Due Diligence and the Income Snowball with Tanisha Souza

November 15, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Did you have a Game Genie or similar childhood thrill?
Do you remember the Choose Your Own Adventure books?
What is the income snowball?
How does one generate passive income?
Who is Tanisha Souza, J.D.?
What about due diligence?
How about a story?
What does Tardus Wealth Strategies do?
What is wealth coaching, and how is it different from financial advising?
What is the income snowball?
What is Tanisha’s background?
How does the income snowball work?
What are some examples of people on the income snowball?
What about a passive income strategy?
What’s the difference between an accumulation strategy and a passive income strategy?
What about replacing living expenses?
How about leverage?
Why leverage Bank on Yourself type whole life insurance policies with the income snowball?
Would you like to read Tanisha Souza’s book, Creating Your Income Snowball?
What are the benefits of shorter terms?
What are the risks?
What’s a slow burning fuel?
What’s a fast burning fuel?
What’s the risk tolerance?
Would you like to visit creatingyourincomesnowball.com?
What are the takeaways?

Tanisha Souza, J.D., is an author, patent-holder, professional speaker, wealth and passive income coach, and entrepreneur. She has a passion for teaching people how to live their dreams by quickly building passive income without risk. Tanisha quit the practice of law after replacing her income with passive income from real estate, and she launched Tardus Wealth Strategies, a full-service wealth and passive income coaching firm. Tanisha studied and obtained her bachelor’s degree at U.C. Berkeley and obtained her juris doctorate from the U.S.C. Law School.

Episode 375: Get Off the X! No Decision is Still a Decision

November 8, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

When does your training kick in?
What about a broader mindset of adaptability and resilience?
Does what saved you in the morning kill you in the evening?
What is riskier or now outdated?
What about wealth stability?
Who is standing right on the X?
What is the darling of everyone’s stock portfolio… until it’s not?
Who knows?
Who is stuck in analysis paralysis?
Would you like to hear Episode 342?
Is this really a safe stop?
What about a case study?
What about showing leadership with yourself?
What about the example of the Israelites?
Is not making a decision, still making a decision?
Am I doing what I’m doing right now, only because I’ve done it before?
What are some action steps?
What financial vulnerabilities need attention?
Who are the other members of your squad?
What did Dan say?
How about a story?
Do you have a chance to move off the X?
Would you like to meet with Mark or one of Mark’s associates?

Episode 374: [Client Spotlight] Bank On Yourself® and Austrian Economics with Max Brusky

November 1, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Can you imagine…?
What is Austrian Economics?
Who is Max Brusky?
What is Max’s podcast about?
Would you like to hear the BuckAround Podcast?
What happened to Max in downtown Chicago?
What happened at the Mises Circle event?
What is the relationship between Austrian Economics and Bank on Yourself?
Who is Ludwig von Mises?
What about Mises’ books, Theory of Money and Credit (1912) and Socialism (1920)?
What about sound money?
What is considered a store of value?
What about lending money?
What is the purpose of the central bank?
Is it a quasi-government agency?
Who appoints the central bank’s governors?
What is money? What is credit?
Who controls the money supply?
What leads to inflation?
What leads to improper business signals to investors and creditors?
What is a good interest rate?
Who sets the interest rate?
What is the Austrian Business cycle?
What is the boom / bust cycle?
What happens when the money is cheap and free?
What happens when bad decisions get subsidized by more money?
What does Mark have?
Do the Austrians have something to say about what’s going in our world right now?
Would you like to visit mises.org?
What about the Great Depression?
Would you like to read Murray Rothbard’s book on The Great Depression?
Who was Murray Rothbard?
What about human action?
Who are the Austrian economists?
What is the fix? Can anyone fix it?
What about Bitcoin and cryptocurrencies?
What about the various agendas?
Do you remember the sidebar blogroll?
What about various Austrian economist podcasters?
What about Keynesian economics?
What about course corrections?
What did Thomas Jefferson say?
How was Max lucky?
Who is Robert Murphy?
Who is able to opt out of that system?
What is designed to keep you in debt?
What about debt, on the bank’s terms?
What happens when you use the cash value as collateral on a policy loan for big purchases in Bank on Yourself® type whole life insurance policies?
What is the great dispossession?
Who gets paid last?
How is an insurance company’s contract different?
What about the history of the contract?
What are the benefits of whole life insurance?
How does the death benefit make a big impact?
How has Max used his policies?
How about loaning money to kids for college?
What about having skin in the game?
What about the honor of paying back your debt?
What about paying tax?
What about donations?
How do the college loan repayments contribute to the kid’s inheritance?
What is a racket?
What are some creative ways to set up kids for success?
Would you like to visit mises.org?
Would you like to visit aier.org?
What are the takeaways?

Max Brusky is an attorney specializing in civil litigation, particularly insurance defense, coverage, and subrogation. He is currently an “in-house” and Claims Director for a national trucking company. He is a happy husband to a happy (and brilliant, and understanding) wife, and the proud father of two, one in college, one almost in college. He currently lives in Chicago’s far west suburbs, but still considers himself a Wisconsin expatriate.

Episode 373: Real Financial Curriculum in Schools with Vince Shorb

October 25, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Did you receive any practical financial education in school?
Would you like to see financial education in schools?
Who is Vince Shorb?
How about lizards?
What about the entrepreneurial spark?
Is there a financial illiteracy epidemic?
What’s Vince’s story?
How has education changed and stayed the same over the last 100 years?
How much time do teachers spend on practical, personal finance?
What outcomes would benefit high school students?
What about reform?
What principles would Vince teach if he were Pope of Education?
What are the financial literacy needs for kids in elementary school?
What about shaping positive behaviors?
At what age do financial habits develop?
What do 7 to 9-year-olds need to learn?
What are some sustainable and practical habits around saving and spending?
What are some considerations for high school students?
What about project based activities?
How does one prepare to select and pay for a rental home and pay bills?
What about college-level students?
What about the risk of college debt?
How do kids learn about money?
What about kids earning money for chores?
How might kids learn about bills, loans and savings?
What can kids manage?
Have you or your kids read the book, the Richest Boy in Athens?
Have you played the game Cash Flow for Kids?
Have you played the game Payday?
Have you seen or read the Tuttle Twins books?
How might kids start their own business?
How about encouraging kids to participate in the Children’s Entrepreneur Market?
How might one move forward after a financial literacy deficit in school?
What about resilience after mistakes have stacked up?
What about income?
What about expenses?
What about savings?
Do you need to earn more?
Do you need to save more?
Why is consistency the key?
What myths need to be busted?
What happens when kids apply practical knowledge?
Would you like to connect with Vince Shorb on LinkedIn?
Would you like to see the financial curriculum?
What about growing and scaling financial literacy in your community?
What are the takeaways?
What are the action steps?

Vince Shorb is one of the country’s leading advocates for promoting financial wellness and a thought leader in teaching and scaling financial education programming.After spending 15 years in financial services working one-on-one with more than 20,000 people, he founded the National Financial Educators Council – an organization dedicated to combating the financial illiteracy epidemic. He is the current CEO of the NFEC, an IACET Accredited company and a Certified B Corporation.

Episode 372: The IUL Illustrations are Illusions

October 18, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Why do indexed universal life policies (IUL policies) sales continue to grow?
Why do we choose whole life insurance over other products?
What about the refractor?
How much risk are you comfortable taking with money you’re not willing to lose?
Where are you on the risk scale (1-10)?
How is permanent insurance different from term insurance?
Would you like to hear Episode 371?
What about the reliability percentage?
Will it be enough to stay in force?
Which chart would you pick?
Is Mark willing to take that risk?
Do IUL policies have a fixed and guaranteed premium?
…What do you think happens?
What is the basic definition of insurance?
Can the policy itself support underfunding?
What is the illustration beauty contest?
Who wants the attractive impossibility?
Who wants the certainty that efforts will yield results?
How about a real-life example?
How does universal life insurance really work?
What about the Monte Carlo simulation?
What control does the policy owner have?
What is the problem of volatile returns?
What percentage showed a successful outcome?
What percentage showed a failing outcome?
Was she sold a pack of lies?
What what would the whole life premium be?
What can change in an IUL contract?
Is the cost of insurance the same?
What does all of this mean?
Is this a poorly conceived product?
Are the IUL illustrations realistic?
Can you unwind this when you’re 30 years older?
What about co-authoring success?
How might it bring financial freedom?
Would you like to meet with Mark?

Episode 371: Why 90% of IUL Policies Will Fail

October 11, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Is life 100% chaotic?
Are we totally at the whims of the universe?
What happens anytime we make a plan?
What about expectations and assumptions?
What happens when time runs out?
What about the booklet, The Box by Guy Baker?
What are the four pricing factors?
What about mortality cost?
What about persistency?
What about interest rates?
What about expenses?
What is life expectancy?
What did Guy Baker discover?
How much does it take?
…Who could afford that?
What is adverse selection?
What happened in the early 1800s?
What does an actuary do?
Will it pay the mortality expenses?
What are the various configurations of each “box”?
What is life insurance dependent upon?
Why are term premiums so low early on (in age)?
Would you like to hear Episode 365?
What will almost never pay a death benefit?
Who has the highest persistency rate?
What about interest credits?
What is the math game?
What if interest rates rise or drop?
What is the job of your insurance agent?
Why are indexed universal life policies (IUL policies) so sensitive to risk?
How is whole life insurance different?
How many people who own IUL policies are receiving letters for more premium?
What’s the long game here?

Episode 370: Whole Life Drops the Mic! IUL’s Epic Rap Battle Fail with Chris Gray and Marvin Bulas

October 4, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to hear the epic rap battle of insurance policies?
Would you like to experience this lyrical throw down of the ages?
Has Mark finally lost it?!
Did whole life’s guaranteed cash value reign supreme or did IUL’s (indexed universal life insurance) market-linked potential steal the show?
Who is Chris Gray?
Who is Marvin Bulas?
What’s this rap battle about?
Is whole life insurance steady as a rock?
Is whole life “the king of finance”?
What about guarantees?
What about dividends?
What about the indexes in IUL policies?
What about the IUL illustrations vs. IUL reality?
What about fixed indexed annuities?
What is just junk?
What happens to IULs in the later years?
What about the overpromising on this product?
What about the IUL lawsuits?
What about the new regulations?
What is a straight-line projection?
Is whole life inflexible?
What about the flexibility that riders bring?
Have you seen an IUL illustration?!
What about the IUL fine print?
What about the cost of IUL being cheaper in the early years of the policy?
What happens to IULs with age?
What about liar, liar, pants on fire?
What about the wake up call?
Are you safe from loss with an IUL?
Why do the IULs go south?
What about fees?
What about the cost of insurance increasing in an IUL?
Can you draw an income later in life?
Do the guarantees eat your cash in an IUL?
What about the zero-floor guarantee?
What about the time-locked surrender charges on an IUL?
What about loans in an IUL?
What about non-direct recognition loans?
What about increasing costs?
Did that other advisor tell you…?
What about tax and modified endowment contracts?
What if you have a material change in an IUL?
What about policy lapse?
Which life insurance policy is going to come through?
Why is there so much sizzle with IUL?
Why is the predictability of IUL performance like a monkey throwing darts?
Why are there so many pages of fine print on the IUL contract?
Would you like to reach out to Chris or Marvin?
What are the options for IUL holders?
What is possible?

Chris Gray, ChrisG@Grossmancollegefunding.com,
https://www.grossmancollegefunding.com/

Marvin Bulas, marvin@mysetsolutions.com,
https://www.bankonyourself.com/become-a-professional

Episode 369: Money, Emotional Intelligence and Mr. Rogers with CFO David Richter

September 27, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Do you remember Mr. Roger’s lessons?
How might the Profit First system work with real estate investing?
Who is David Richter?
What about great role models?
What about emotional intelligence?
What is key for business owners?
When did David’s first deal happen?
What happened to that company?
What happened when David moved across the country?
What about make, spend and keep?
What is a fractional CFO company?
Would you like to hear Amanda Neely on Episode 165?
Have you played the cash flow game?
Who is living deal-to-deal?
What about paying yourself first?
What is Profit First in a real estate investing context?
What is the biggest challenge for real estate investors when it comes to making a profit?
What about the culture’s drive for more, more, more?
What about making money and keeping it?
What game are you playing?
How do Bank on Yourself® type whole life insurance policies take it a step deeper?
What are some examples of quarterly and annual accounts?
What fits right in?
What turbo-charges Profit First?
What about the legacy play?
What about saving?
What can business owners do to start?
Do you have a handle on your cash?
What about the Profit First cheat sheet?
Can you learn to keep it?
How does following simple systems change everything?
Would you like to visit simplecfo.com/gift ?
What are the takeaways?

David Richter is an active real estate investor who has been essential in closing over 850 deals over the last 10 years. He has experience with wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and other exit strategies.

David has helped real estate companies completely turn around from going out of business to building cash reserves by using the Profit First cash flow system. He has been featured on Biggerpockets, Real Estate Disruptors with Steve Trang, and many other podcasts, shows, and stages.

David authored Profit First for Real Estate Investing – a derivative of the original Profit First by Mike Michalowicz, tailored specifically to Real Estate Investors. His goal is to completely transform the Real Estate Investing industry by helping real estate investors make and KEEP more money in their businesses. As the founder and owner of SimpleCFO Solutions, he wants to bring investors true financial clarity and freedom and help every investor stop living deal to deal.

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