Not Your Average Financial Podcast™

Think different about your money, your economy and your future. Be curious. Be stable. Be sane.

Episode 349: The Heirs or The IRS?

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In this episode, we ask:

  • What annual day did Americans just survive?
  • Where do you pay tax?
  • Who pays the most in lifetime taxes?
  • Who pays the least?
  • What about your heirs?
  • Do you want theirs or your heirs to get the money?
  • What is legally required?
  • Would you like to hear Episode 199?
  • What are the steps?
  • What about income tax?
  • What about assets that force an income?
  • What about assets you can borrow against?
  • What about collateral?
  • What about the tax to your heirs?
  • Is this only for the ultra-wealthy?
  • What are some ideas?
  • What happens when the laws change?
  • What about BITA?
  • What about taxing the rich?
  • How does this affect the middle class and less wealthy?
  • What about estate tax?
  • What about interest rates?
  • What about a mindset shift?
  • Are there capital gains on life insurance?
  • What are the problems?
  • What is guaranteed to grow?
  • What is not guaranteed to grow?
  • What happens if you find yourself underwater?
  • What about liquidity?
  • What about compounding?
  • What assets compound?
  • How about an example?
  • What about the power of compounding growth?
  • What are the opportunities?
  • Is everyone going to be able to save enough money?
  • What about saving a modest amount?
  • What are billionaires doing with their stocks and real estate?
  • What are the quick takeaways?
  • What are the strategies?
  • What about the risks with common strategies?
  • What about whole life insurance?
  • What about reducing your tax burden now?
  • What about a Bank on Yourself® type whole life insurance policy?
  • Would you like to visit notyouraverage.mn.co?

Episode 348: What Your Other Advisor Will Say

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In this episode, we ask:

  • Would you like to see videos?
  • Do you have an existing advisor?
  • Can Mark predict what they will say?
  • What are the motivations beneath their comments?
  • What is it hard for them to hear?
  • Can the other professional build a knock off version?
  • What is completely normal?
  • What about fewer fees?
  • What about the loss of big commissions?
  • What is the motivation?
  • What process happens with a transfer form?
  • Do you have a similar product?
  • What are the fees?
  • What are the taxes?
  • Who knows how to build a Bank on Yourself® type whole life insurance policy correctly?
  • What about guarantees?
  • Can Mark sign a guarantee?
  • Would they be able to sign a guarantee?
  • What about the disclosures?
  • What about the market-based advisor?
  • Would you like to hear Episode 36?
  • What’s on the internet?
  • Where is that advice coming from?
  • Do they have your best interest at heart?
  • Are they obligated to consider your best interest?
  • What is the problem exactly?
  • Is their situation just like yours?
  • Does your kid have financial advice for you?
  • What about death benefit numbers?
  • How about a review?
  • What about the financial infotainers?
  • What is the misunderstanding?
  • What is the doubt?
  • What is the major flaw?
  • What about the crab bucket?
  • With whom do we work?
  • What is the good, the bad and the ugly?
  • What are the concerns?
  • What are the expenses?
  • What about your beliefs?
  • Who will be here for you?
  • What about insurer’s statistics and backing?
  • What about state’s sources?
  • What happened?
  • What questions do you need to ask your advisors? (Send your stories and answers to hello@nyafinancialpodcast.com!)
    • Have you ever lost your clients in the past? If so, how can I be guaranteed that you won’t lose my money in the future? Can you put that guarantee in writing?
    • Where do you think tax is going in the future, down or up? How will you protect me from (excess) taxation over my lifetime?
    • Can you know for certain what the market will do over the next 40 years, or even this year?
    • What can you do to help me grow my net worth and my business, if banks decide to reduce or takeaway my line of credit?
    • What are your fees? Do you promise to eliminate them completely when you lose my money in the market?
    • What are you doing to completely protect me from market downturns?
    • What are you doing to completely protect me from creditors if my business fails?
    • What is your plan for me when I bring on equity partners and eventually sell my business?
  • What would you like to discuss further?
  • Would you like to meet with Mark?

Episode 347: Gathering the Kings with Chaz Wolfe

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In this episode, we ask:

  • Can you imagine being 5 miles deep into the wilderness of Wyoming?
  • How about that for a real-life encounter?
  • What would you do if you faced a wild grizzly bear?
  • What about the exceptional life?
  • What about good power for the betterment of those in your care?
  • What about Aslan’s safety in the The Chronicle of Narnia?
  • Who is Chaz Wolfe?
  • What happened to Chaz in the wilderness?
  • How did Chaz get from hunting to becoming a serial entrepreneur?
  • How to define success?
  • What are we in harmony towards?
  • What is winning in all areas?
  • What is the formula?
  • What are you after?
  • What is your chief aim?
  • Are you clear?
  • Are you making good decisions?
  • Are you sticking with it long enough?
  • What about belief?
  • What do I want?
  • Why do they call them brokers?
  • What is kingship?
  • What is the responsibility of power?
  • What are the second order consequences?
  • What about business and finance?
  • What about family and marriage?
  • What about health, mental and physical?
  • What about faith?
  • What about lifestyle and joy?
  • Who is carrying the weight?
  • What about stepping out of isolation and into a community?
  • What is Chaz’s story?
  • What about a full cup?
  • What about overflow?
  • What’s life like for Chaz’s coaching community?
  • Would you like to hear Gathering the Kings podcast?
  • Would you like to learn more about Chaz’s group?
  • What about growth in all areas of life?
  • What about business success?
  • What about personal growth?
  • What is balance for?
  • Where are we going?
  • How can you work on improving your life situation?
  • What is the final takeaway?
  • What does it mean to balance power and responsibility?
  • What is your domain?
  • How do you enjoy the process of taking care of others?
  • Would you like to work with Mark?

Episode 346: When Bank on Yourself® Policy Loans Matter Most

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In this episode, we ask:

  • Why haven’t you subscribed yet?
  • What big purchases are coming up?
  • Can you earn your way out of expenses?
  • What happens in retirement?
  • Can you earn your way out of expenses throughout all of the ages of life?
  • What’s the difference between earning income at age 35 and age 86?
  • What allows for uninterrupted compounding?
  • How is this possible?
  • Who offers non-direct recognition policy loans?
  • How about an example?
  • What is the amount of the cash value?
  • What is the simple interest rate on the policy loan?
  • What happens over four years?
  • What happens to the policy?
  • What is the gain?
  • Did you earn more than you spent?
  • What happens over a longer time horizon?
  • What about dividends?
  • Would you like to hear Episode 345?
  • Would you like us to review your policy?
  • What is unbelievably cool?
  • What products stop growing your money when you spend it?
  • Can you imagine this chart?
  • What happens on the spend down?
  • What continues to earn interest?
  • What if you could continue to maintain the compounding growth on your money?
  • What are the implications?
  • What results shocked Mark?
  • What if they never paid off the loan?
  • How about another apples-to-apples example?
  • What does a policy loan look like in a direct recognition policy?
  • What about the interest?
  • What about receiving a weird letter from the insurer at age 81?
  • Where was the compounding?
  • Where did the growth go?
  • What does a policy loan look like in a non-direct recognition policy?
  • What about the interest?
  • What is the difference?
  • What is the policy growth based upon?
  • What about compounding and accumulation?
  • What about loan interest?
  • How much more?
  • Is the policy designed the right way?
  • Who is getting penalized?
  • How about a timely warning?
  • Does your agent understand the working parts well?
  • Is your policy built correctly?
  • Is your policy breaking compound growth?
  • What about the Gold Standard of the Bank on Yourself® Professional training?
  • What would it look like?
  • What about absolute certainty?
  • Do you have to know everything about how your phone was engineered to enjoy it?
  • How is a Bank on Yourself® type whole life insurance policy like a smart phone?
  • When was the last time you reviewed your current policy?
  • Would you like a second set of eyes?
  • Would you like to learn more by listening through our Episodes in a List?
  • What about time?
  • Are you serious?
  • Would you like a meeting with me or an associate?

Episode 345: Direct vs. Non-Direct Policy Loans, The Debate and The Truth

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In this episode, we ask:

  • What is a policy loan?
  • Why do we love the Bank on Yourself® type whole life insurance policies?
  • Is a non-direct recognition policy loan the best feature in the financial universe?
  • What is a direct recognition policy loan?
  • Is there really no difference between the two?
  • Does it really matter?
  • Why is transparency key?
  • What is the history between non-direct recognition and direct recognition policy loans?
  • How long have life insurance policies loans been around?
  • Over 150 years ago, how did insurers treat these separate loans with distinct interest rates?
  • What about collateral?
  • What about the life insurance general fund?
  • What about using your policy as collateral?
  • What about dividends?
  • How would the policy continue to earn interest?
  • Where is the money for the loan coming from exactly?
  • Why did some insurance companies move over to do direct recognition policy loans?
  • Why did some insurance companies hold firm with non-direct recognition policy loans?
  • What is a mutual life insurance company?
  • What about profits?
  • Who should logically have a higher dividend?
  • Who is penalized?
  • Do companies offering direct recognition policy loans offer slightly higher dividends?
  • Who is going to have a better experience?
  • What good is that cash value if you can’t collateralize it?
  • What about the living benefits of life insurance?
  • What is outrageous?
  • What did Nelson Nash say?
  • Who has real liquidity?
  • What about direct recognition policy loans for a time horizon (for 10 years, etc.)?
  • How about an example?
  • What is a 1035 exchange (a like-kind exchange for life insurance)
  • Would you like to learn more in Episode 252?
  • What happens in a scenario where direct recognition policy loans were taken?
  • What happens in a scenario where non-direct recognition policy loans (as in a Bank on Yourself type whole life insurance policy) were taken?
  • What about the dollar diagram?
  • What about the one dollar?
  • What happens if you put this single dollar into a paid up additions rider (PUAR)?
  • What about opportunity cost?
  • What happens if you spend that dollar instead of saving it?
  • What is the interest?
  • What benefits you?
  • What about dividends?
  • How do the insurers earn money for dividends?
  • How does that benefit policy holders?
  • How much would you have?
  • How many dollars…?
  • Is there such a thing as paying too much premium?
  • How about another example about a policy loan to purchase a car?
  • What did the three cars cost you?
  • How much did you net in the non-direct recognition policy loan’s policy?
  • Knowing all of this, why would you buy a car any other way?
  • Should you just get a bank loan?
  • What totally defeats the purpose of Bank on Yourself®?
  • Are you being penalized?
  • Which scenario keeps me more in control of my own money?
  • Which scenario yields control to the bank?
  • What about Bank on Yourself® policy engineering? 
  • Would you like to meet with Mark?
  • Would you join us next week?

The topics and images presented in this podcast are general information only and not for the purposes of providing legal, accounting or investment advice. On such matters, please consult a professional who knows your specific situation. 

Episode 344: Owning the Number with Len Renier (Part 2)

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In this episode, we ask:

  • Would you think long range?
  • Would you like to hear Part 1, Episode 343?
  • How about an example?
  • What about an inheritance?
  • Are you going to bet on it?
  • What about creating legacy programs?
  • What did you see?
  • What didn’t you see?
  • Who owned the number?
  • What happened when Ms. Smith died?
  • Who understood the idea of legacy?
  • What are the powerful implications of legacy maximization?
  • What about family and religion?
  • What about ownership?
  • Would you like to read Len’s books?
  • How will generational planning improve your life today?
  • Would you like to visit wealthandwisdominc.com?
  • What are the action steps?

 

Leonard Renier studies the economic trends and shifts and the impact of government programs and regulations on the social fabric of our country. His research has resulted in bringing a new awareness to the financial challenges the average American faces. Leonard is considered an expert in communicating these challenges and believes with more information; people will make better life decisions. As founder of the Wealth & Wisdom Institute, Leonard recognized the importance of Education, Discovery and Understanding. He has been involved in the financial services industry for over 30 years.

Episode 343: The Money Matrix with Len Renier (Part 1)

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In this episode, we ask:

  • How do magicians make the impossible, possible?
  • Have you heard financial advisors act like magicians?
  • Do you want your financial advisor to retire before you?
  • What don’t you see?
  • Who is Len Renier?
  • What is the Wealth and Wisdom Institute?
  • What about knowledge?
  • What about wisdom?
  • Would you like to learn about hiddenomics?
  • What about time?
  • Will you inherit the financial challenges in your life?
  • Will you inherit the financial solutions?
  • What do you see? What don’t you see?
  • What will impact your financial future?
  • What about Len’s book, Double Jeopardy?
  • How about a story?
  • What financial accident will occur?
  • What are the five core elements?
    • Risk
    • Taxes
    • Regulation
    • Inflation
    • Depreciation
  • Which of these five elements do you control?
  • Does your 401(k) solve these problems for you?
  • When can you create a brand new ending?
  • What are the critical stages?
  • What is the role of the government?
  • How much did they collect in income tax?
  • Do you believe it’s a good idea to defer tax until a later date?
  • What about the debt issue?
  • What about the unique inflation situation?
  • How do they measure inflation?
  • What about the cost of energy and food?
  • What was the two year inflation rate (as of Autumn 2023)?
  • What about credit cards?
  • What is losing value?
  • Is accumulation buying power?
  • How about an example?
  • What about buying power?
  • How about a qualified plan example?
  • What about the hidden elements?
  • Why is ownership important?
  • What about reducing the element of risk?
  • What questions do you need to ask?
  • What about the money matrix?
  • What about owning the number now?
  •  What are the action steps?

Leonard Renier studies the economic trends and shifts and the impact of government programs and regulations on the social fabric of our country. His research has resulted in bringing a new awareness to the financial challenges the average American faces. Leonard is considered an expert in communicating these challenges and believes with more information; people will make better life decisions. As founder of the Wealth & Wisdom Institute, Leonard recognized the importance of Education, Discovery and Understanding. He has been involved in the financial services industry for over 30 years.

Episode 342: Beware of Analysis Paralysis

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In this episode, we ask:

  • What is the exceedingly odd number?
  • Why?
  • What about the imperial Roman war chariot?
  • What about the space shuttle?
  • What are the historical roots of our financial principles?
  • What are the ruts?
  • What are the engrained financial beliefs?
  • What would you do?
  • Who is stuck in the rut?
  • What is analysis paralysis?
  • What about second guessing yourself?
  • What are the phases?
  • What about curiosity?
  • What about hope?
  • What changes?
  • What about the fear of making the wrong decision?
  • What about missed opportunities?
  • What about real consequences?
  • What about the inverse relationship between spinning tires and forward momentum?
  • Where is your energy going?
  • What do we do with overwhelm?
  • When does this become a problem?
  • What about confusion?
  • What about whirlwinds of thought?
  • What about the spinning wheel of over-thinking?
  • How might analysis paralysis sabotage the big issues in your life?
  • Is the tire just stuck in the snow?
  • What happened to Mark when he learned about the Bank on Yourself® type whole life insurance policies?
  • Do you truly understand the policy?
  • What about rigid thinking?
  • What about cognitive flexibility?
  • What are some both/and ideas?
  • What about an example?
  • What happened at the year-end review?
  • What about perfectionism?
  • What about being careful?
  • What about people pleasing?
  • Is the person I’m trying to please planning to be financially involved with my financial future?
  • Who has made mistakes with money?
  • How might one recover resilience and confidence?
  • What did Mark learn when his car was stuck in the ice and snow?
  • What is the correlation between learning and doing?
  • What do you need to know?
  • What about the contractual guarantee?
  • What about the financial ruts of the past?
  • Where do you want to go financially?
  • What are some steps?
  • What are the signals the body and mind are sending?
  • What about the permission to be flexible?
  • Are you confident that you can make good decisions?
  • What’s the worst that can happen?
  • Who is can deal with moments of stress, challenge and discomfort?
  • Who deserves to get a voice, and who are the stakeholders?
  • What can we predict?
  • What about a financially solvent future?
  • Do you know enough to make a good decision?
  • What are your success stories?

Episode 341: Base vs. Boost! The Ultimate Ratio for Bank on Yourself®

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In this episode, we ask:

  • How might you phrase a question?
  • Would you like to hear some commonly asked questions?
  • Would you like to email us at hello@nyafinancialpodcast.com?
  • How much should be put into base premium and how much into paid up additions?
  • Who is your Bank on Yourself® Professional?
  • Who protects the Bank on Yourself® brand?
  • Why is this important?
  • What are the three major components?
  • Would you like to hear Episode 6?
  • What is a base face amount?
  • What remains fixed?
  • What about guarantees?
  • What is the term rider?
  • What about converting term riders?
  • What is the paid up addition?
  • How does the paid up addition affect the death benefit?
  • How about an example?
  • How are Bank on Yourself® type whole life insurance policies different from traditional, basic whole life insurance policies?
  • What happens if you shrink down the face amount?
  • What problem could develop?
  • Do you have a modified endowment?
  • Why add a term rider?
  • How much does the term cost?
  • What is the benefit of the term rider?
  • What accelerates the cash value accumulation?
  • What increases the death benefit?
  • Would you like to hear Episode 142?
  • What are the three components of a good sailboat?
  • What about a good balance?
  • Who knows how to build this properly?
  • Is the base a necessary evil?
  • How about a bank account?
  • How is the boat designed?
  • Where did that YouTube advisor get their credentials?
  • What is the reason for the base contract?
  • What about dividends?
  • What about upkeep?
  • What happens later on?
  • What about speed and power?
  • What happens if income drops?
  • What provides instant growth?
  • Why is some base important?
  • What is a strong blend?
  • What happens when you increase your base premium?
  • What are the benefits? What are the opportunity costs?
  • What likely happens to the dividends?
  • Who thinks long range?
  • When in your lifetime will you not need money?
  • How about an example?
  • What about liquidity?
  • What happened from year 3 to year 4 in this example?
  • Who is paying who for that life insurance policy?
  • How can this policy perform incredibly well?
  • What about the long-term family business thinking of this Japanese hotel?
  • Are you able to think long range?
  • Are you thinking about multiple generations?
  • When do you want your money to be most efficient?
  • What about balancing your base premium with paid up additions properly?
  • Are you aware of the risk of a shrinking base / face amount?
  • Did you know term riders can be your friend?
  • Have you reviewed your existing life insurance policies?
  • Who is your Bank on Yourself® Professional?
  • What tools have you reviewed?
  • What questions do you have?
  • What valuable insights might you discover?
  • Would you like to ask a question for the mailbag by emailing us at hello@nyafinancialpodcast.com?

Episode 340: Get the Facts on Bank on Yourself® Policy Loans

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In this episode, we ask:

  • What if you could take real control?
  • How do life insurance policy loans really work?
  • Would you like to hear even more about policy loans in Episode 32?
  • What are some of the misconceptions about policy loans?
  • What about pulling cash from a savings account?
  • Is it scary to request a policy?
  • How does one take a life insurance policy loan exactly?
  • Spoiler alert?
  • How are life insurance policy loans different than bank loans?
  • Who is in control when you take a loan?
  • How do you take your first loan?
  • Is there loan interest?
  • How is it calculated?
  • Is it annually charged?
  • Is it based on policy anniversary year or calendar year?
  • Is interest charged at the end of the year?
  • What is interest charged in arrears?
  • What is the best way to manage policy loans?
  • What about the accrual of interest?
  • When does the interest compound?
  • How about an example?
  • When are your dividends paid?
  • When is the annual premium due (if you are paying annual premiums)?
  • How much interest accrued?
  • What happens if you make no loan repayments?
  • Do you see how using a policy loan allows you to pay a policy loan down faster than another type of loan?
  • Is 5% always, exactly, 5%?
  • What happens if you pay your loan off in a responsible way?
  • What is the real (annual percentage rate) APR?
  • How about another loan example for $10,000?
    • What if you paid a $250/month loan repayment?
    • Would the interest be accruing but not compounding?
    • Would the interest be charged annually in arrears?
    • What if you paid the loan off completely within 4 years?
    • Wouldn’t the total interest be $830.23, with an APR be much less than 5%, closer to 2.08% APR?
  • Is borrowing at 2.08% APR attractive in today’s environment?
  • Is the policy’s cash value still growing, even with the policy loan outstanding (as if you never took a loan)?
  • Isn’t it nice that you’re not snowballing your interest all year long?
  • When do they compound your interest?
  • Don’t you wish that other loans would work this way?
  • Are we even scratching the surface of how cool these policy loans are?
  • What happens if you don’t pay your policy loan at the policy’s anniversary date?
  • When is the interest due?
  • What are the options?
  • What letter does the insurer send regarding the loan?
  • What happens if you ignore the letter?
  • Who is in control?
  • How could you make it so your interest would never compound… ever?
  • How about that advantage?
  • Have you noticed that interest rates are rising?
  • How predictable is life insurance?
  • What will the insurer do with the loan interest rate upon the policy anniversary date?
  • What about simple interest?
  • What about simple interest compounded annually in arrears?
  • What about red tape?
  • Are there prohibited transactions?
  • Are you able to deduct the interest?
  • What about business owned life insurance policies?
  • What are the IRS rules for business owned life insurance policy loan interest deductions?
  • What about an example?
  • Did I pay for that car twice?
  • Would you like to hear Episode 110?
  • Do we often make payments on the other side of a purchase?
  • What happens when we repay the loan?
  • What is it really like to take a policy loan?
  • Can you take a loan online?
  • Do you have to set up a loan repayment?
  • Should you repay your loan over a reasonable amount of time?
  • What would the bank require?
  • Would repaying the policy loans increase the available cash value?
  • Does the cash value grow on a guaranteed basis?
  • What about long term loans?
  • Would you like to hear Episode 87?
  • What about a case studies?
  • What did they do with the inheritance?
  • How did they self finance a construction loan?
  • What about business financing?
  • Would you like to hear Episode 75?
  • Do you understand how policy loans work?
  • What could you do with your policy?
  • Would you like to hear Episode 102?
  • Would you like to hear Episode 110?
  • Would you like to meet with Mark?
  • What about starting small?
  • What does responsible repayment look like?
  • Who needs to hear this?

For our existing clients, please contact our staff with any specific policy loan setup questions. This is what we do! We are happy to help, and we help clients with policy loans all day long. Please call or reach out to us, no question is too small.