Not Your Average Financial Podcast™

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

Episode 231: Top 10 Episodes! How Is Guaranteed Growth Possible? (Ep. 197)

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Would you like to hear 10 of THE BEST episodes so far?
How can certain whole life insurance polices grow on a GUARANTEED basis?

In this episode, we ask:

  • What about Silly Putty?
  • What about accidental inventions?
  • What about the wheel?
  • What about the axle?
  • What about the power of leverage?
  • What about access?
  • What about cash value?
  • What about a contract?
  • What about Bank on Yourself® type whole life insurance contracts? 
  • What about Episode 195 and Episode 196?
  • How can whole life insurance grow guaranteed?
  • How long might you live?
  • What affects guaranteed growth?
  • What about traditional whole life insurance?
  • What about the guaranteed death benefits at mortality?
  • What about financial certainty?
  • What about greater flexibility?
  • What is powerful and often overlooked?
  • What about the average ways of looking at finances?
  • What about “mythical financial vehicles”?
  • Are you guaranteed to lose money if you buy whole life insurance?
  • What happens in year 1 of a permanent whole life insurance policy?
  • What about some context?
  • What about whole life insurance compared to ETFs or bond fund?
  • Is there a guaranteed ledger in the stock market? (NO!)
  • What about the guaranteed LOSS for the stock market investor?
  • What about the objections?
  • What about the dividends?
  • What about timing?
  • Does timing matter?
  • What about fluctuating markets?
  • What about risk?
  • What about success in retirement?
  • What three things does whole life insurance provide?
  • What about guaranteed income that cannot be outlived?
  • What about access to mortality credits?
  • How are mortality credits like the axle?
  • How might insurance companies make a profit?
  • What are mortality tables?
  • What about hedging risk?
  • What about Paid Up Additions riders or PUAs?
  • Would you like to hear Episode 142?
  • What about leverage?
  • What about pennies that buy dollars?
  • What about volatility?
  • What about little or no volatility?
  • How might you dramatically reduce your risk?
  • What about the barbell?
  • When is the greatest time to have cash value whole life insurance and annuities in your portfolio?
  • What about getting greater yield?
  • What about examples?
  • What about CDs?
  • What about annuities?
  • What about death benefits?
  • What about super low interest rate environments?
  • What about privacy?
  • What about going through probate (or not)?
  • What about beneficiaries?
  • What about creditor and predator protection?
  • What about the power of the axle?
  • Would you like to listen to Sarry’s podcast as well?

Episode 230: Top 10 Episodes! Combining Bank on Yourself® with the Asset Class of Real Estate (Ep. 41)

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Would you like to hear 10 of THE BEST episodes so far?
Here’s a dive into Bank on Yourself® Type Whole Life and REAL ESTATE.

In this episode, we ask:

  • How does Real Estate work with Bank on Yourself®?
  • How is this like combining nitro and glycerine?
  • What does it take to combine real estate and Bank on Yourself®?
  • What is OPM (other people’s money)?
  • How does OPM affect your profits?
  • How does OPM affect bank profits?
  • How does the bank siphon profits from real estate?
  • What strategies make sense with Bank on Yourself® and real estate?
  • How do rental profits come into play?
  • Is the real estate market more or less volatile than the stock market?
  • What about living onsite?
  • What is a 1031 exchange?
  • Why doesn’t everyone throw every last penny into real estate?
  • What determines success in real estate investing?
  • What are the potential downsides or risks of investing in real estate?
  • How have home values performed in the U.S. over the last three decades?
  • What about pricing?
  • What are the secrets of a self-directed IRA?
  • What’s the amount you can put into a self-directed IRA?
  • What’s an arm’s-length transaction?
  • What are the expenses involved in real estate investing?
  • Doesn’t cash FLOW sound nice?
  • Are you in control of the equity in your property?
  • What have you given the bank permission to do with your property?
  • Did you know that banks can call HELOCs?
  • What additional costs are there?
  • Is there a way out? Is there a strategy that makes more sense (cents)?
  • How does Bank on Yourself® and real estate work?
  • Should I put every dollar I have into Bank on Yourself®?
  • What is the starter strategy?  How might you dip your toes in the water to see how it works?
  • Do you need to pay your property taxes? How can you do this with Bank on Yourself®?
  • How can you do this with HOA specials?
  • How can you do this with a down payment?
  • How can you overcome the problem of opportunity cost?
  • What is strategy #2?
  • Can you purchase an entire property with cash? Can you eliminate working with banks? Can you eliminate the traditional mortgage underwriting?
    • What about the policy loan interest?
  • How can you increase your yield without market volatility?
  • Would you like a permanent line of credit to yourself?
  • What is the policy’s value after taking a loan?
  • What is the comparison in growth between owning a straight real estate asset vs. owning Bank on Yourself® policy and combining it with the real estate asset?
  • What happens to your policy when you use it?
  • What happens to your policy when you don’t use it?
  • What’s the difference?
  • What does all of this mean? Join us on our next episode, where real, live real estate investors join us in the studio to share their experience with Bank on Yourself® and the asset class of real estate.

Episode 229: Top 10 Episodes! The Debtor, The Saver and the Wealth Creator (Ep. 71)

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Would you like to hear 10 of THE BEST episodes so far?
Are you in DEBT? Are you SAVING? Are you CREATING WEALTH?

In this episode, we ask:

  • How do you buy stuff?
  • Would you like to meet us in person?
  • What staircase are you climbing?
  • How do you fund large capital purchases?
  • What are some benefits?
  • What does conventional purchasing look like?
  • What is the debtor’s or borrower’s staircase?
  • What do you have after you pay back the debt?

  • What is the saver’s staircase?
  • At the end of the saver’s staircase, what do you have?

  • What is the wealth creator’s staircase?
  • At the end of the wealth creator’s staircase, what do you have?

  • What about privacy?
  • What’s the best way to buy stuff?
  • How do wealth creators buy stuff?
  • Is it possible to “pay for something” twice?
  • What is “saving on the other side of the purchase”?
  • How does perspective matter?
  • What is an accelerated death benefit rider on a whole life insurance policy?
  • What are you going to do with this information?

The images here are inspired by and based on Don Blanton’s Circle of Wealth System, by Money Tax, Inc., “Debtor, Saver, Wealth Creator Visual,” The Private Reserve Strategy™, January 2012. 

Episode 228: Top 10 Episodes! How To Maximize Your Retirement Income and Why Bank on Yourself® Type Policy Loans Matter (Ep. 83)

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Would you like to hear 10 of THE BEST episodes so far?
Here’s an important episode on planning for LIFETIME INCOME.

In this episode, we ask:

  • How much peace and financial stability can you have?
  • How do oceans and rivers work together?
  • How do we benefit from systems?
  • Are annuities good for liquid access?
  • How can we solve immediate cash needs?
  • Where could you possibly keep an OCEAN OF MONEY?
  • How does a Bank on Yourself type policy work with annuities?
  • What spreadsheet did Holly create?
  • What is direct recognition?
  • What is non-direct recognition?
  • How does direct or non-direct recognition work?
  • Do you have a dividend paying whole life insurance contract?
  • Do you have a provision for non-direct recognition policy loans?
  • Do all insurance companies encourage policy holders to take policy loans?
  • Why is so important to work with the right advisors?
  • What can be buried in the contract provisions?
  • How do policy loans work? Have you heard Episode 32?
  • How can you overcome opportunity cost?
  • Does your policy have a TRUE non-direct recognition provision?
  • How can you get your money do two things at once?
  • Can you imagine growing your cash (even when you’ve spent it)?
  • How can your hard earned dollars work hard for you?
  • What if you had $1M in an annuity and $1M in a Bank on Yourself type Whole Life Insurance policy?
  • What happens when the account value is gone?
  • What is an ideal safe withdrawal rate?
  • How can you protect against running out of money?
  • What if we spend down the whole life policy earlier and allow the annuity to keep growing?
  • Which vehicles give you the most income in retirement?
  • Where are the guarantees in the stock market?
  • Is it possible to predict what the market will do?
  • Who is better at choosing stocks? Hedge fund managers or monkeys?
  • Would you like peace of mind?
  • Would you like your money to be there for you no matter what happens?
  • What are people saying?
  • Would you like to send us a review?
  • Would you like a free copy of the Bank on Yourself Revolution book?
  • Email us at hello@nyafinancialpodcast.com
  • Would you like to book a meeting with Mark?

Episode 227: Top 10 Episodes! The Founder of Bank On Yourself®, Pamela Yellen (Ep. 188)

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Would you like to hear 10 of THE BEST episodes so far?
Here’s a recent one with Pamela Yellen, the founder of Bank on Yourself®.

In this episode, we ask:

  • Who is Pamela Yellen?
  • What about Pamela’s articles and books?
  • What did Pamela learn from experience?
  • What did Pamela investigate?
  • How does Pamela remember her mission?
  • What about Dave Ramsey and Suze Orman?
  • What is real education?
  • What is infotainment?
  • Has conventional financial wisdom worked?
  • How many actually have financial security?
  • What do people say about Bank on Yourself?
  • What about investment accounts?
  • What about Pamela’s newest book, Rescue Your Retirement? 
  • What about 401(k)s and IRAs?
  • What will the value of your accounts be when it’s time for retirement?
  • Do you know?
  • What about a personal story?
  • What about the go go years of the dot com bubble?
  • What is a paper gain?
  • How is a paper gain different from real wealth?
  • What about paper gains vanishing?
  • How does Bank on Yourself® fit into a financial strategy?
  • What about cash value?
  • What about taking policy loans?
  • What are some examples of what people are doing with policy loans?
  • What has Pamela done with her policies?
  • What happened when Pamela wrote the Bank on Yourself® book?
  • How was she able to access $500,000 in a week, with no questions asked?
  • What about non-direct recognition policy loans?
  • Is this the 8th wonder of the world?
  • What happened to Pamela’s colleagues?
  • What about compound growth?
  • What about guarantees?
  • What about the right to borrow?
  • What is a unilateral contract?
  • What about opportunities?
  • What about emergencies?
  • What would an adequate emergency fund look like?
  • Can you have your money working for you in two places at once?
  • What about the Bank on Yourself® Professional program?
  • What about the intellectual property of Bank of Yourself®?
  • Why is it important to work with someone with the right training to build and care for a policy?
  • How might a policy help you manage your tax burden?
  • Do people have to pay tax on social security?
  • What about commissions?
  • What about the death benefit?
  • What did the father of the 401(k) say?
  • What is he doing with his money?
  • What if you have a 401(k)?
  • What about reading pages 36-37 of Rescue Your Retirement?
  • Would you like a FREE copy of Rescue Your Retirement?
  • Would you like to visit findoutmorenow.com?
  • Would you like to book a meeting with Mark? (Write Rescue Your Retirement book in the notes on the calendar page so we can get you that FREE copy)
  • What are Pamela’s insights?
  • What are the takeaways?

Pamela Yellen, Financial security expert and best-selling author, investigated more than 450 savings and retirement planning strategies seeking an alternative to the risk and volatility of stocks and other investments. Her research led her to a time-tested, predictable method of growing and protecting wealth she calls Bank On Yourself (www.bankonyourself.com) that is now used by more than half a million people.

Pamela is the author of the New York Times bestselling books BANK ON YOURSELF: The Life-Changing Secret to Growing and Protecting Your Financial Future and THE BANK ON YOURSELF REVOLUTION: Fire Your Banker, Bypass Wall Street, and Take Control of Your Own Financial Future.

Pamela has appeared on every major TV and radio network and served as a source for organizations and publications such as the Associated Press, Fox News, Bloomberg Businessweek, Ladies’ Home Journal, Essence Magazine, Aging Today and AARP. Her articles have been featured in thousands of major publications and websites, and she has spoken to more than 1,000 audiences world-wide.

Pamela was born in Buffalo, New York, and has lived in Sarasota, Phoenix, and the San Francisco Bay area. She graduated from the University of San Francisco with a degree in psychology. Pamela and her husband Larry currently live outside of Santa Fe, New Mexico, They enjoy theatre and the arts, hiking, biking, bird watching, traveling, gourmet cooking, working out (Pamela can leg press 200 pounds!), reading, spoiling their two grandkids, and are involved in supporting numerous charitable causes.

Ten percent of all author royalties are donated to educational not-for-profits, such as The Smile Train, The Nature Conservancy, Susan G. Komen for the Cure, Wounded Warrior Project, Heifer International, and Hawk Watch.

Episode 226: [Toolbox] Three Biases That Sabotage Your Finances and One Weird Habit to Find Real Wealth in 2022

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In this episode, we ask:

  • What’s your attitude about money?
  • Who is generous?
  • Who is risky?
  • Who is trading?
  • Who is hoarding?
  • What is your bias?
  • What did Morning Star’s bias study say?
  • What is present bias?
  • What is base rate neglect?
  • What about loss aversion?
  • What about confirmation bias?
  • Would you like to hear Episode 108?
  • Would you like to hear Episode 13?
  • What about overconfidence bias?
  • What about the Lake Woe-be-gone effect from Prairie Home Companion?
  • Who is actually above average in their ability?
  • What about statistical impossibilities?
  • What about mutual funds?
  • What did Ray Dalio say about overconfidence and being wrong?
  • What about humility?
  • What about setting expectations?
  • Do you have an outsider’s perspective?
  • What about anchoring bias?
  • What about rigorous critical thinking?
  • How can you tell if something is overpriced or not?
  • What about the bandwagon effect?
  • How do these effects show up in IPO releases?
  • What should investment decisions be based upon?
  • Who is a part of the herd?
  • What about the financial power of gratitude?
  • What about decision making while afraid?
  • Does emotion impact our financial life?
  • What does uncertainty lead to?
  • What does gratitude lead to?
  • What are you grateful for?
  • What about volatility?
  • What about compassion?
  • What about family conversations?
  • What about a reciprocity ring?
  • What about meditation?
  • What about a daily gratitude journal?
  • What about a meditation practice?
  • What about putting fears in check?
  • Wishing you all the best in 2022!

Episode 225: Why Did I Buy This Thing Again? with Debbie Wilder

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In this episode, we ask:

  • What are the weirdest things available for sale?
  • Would you like to join our Not Your Average Financial Community?
  • Who is Debbie Wilder?
  • Would you like an Office Hours sneak peek?
  • Why did I buy this thing again?

Debbie Wilder is a Bank on Yourself Authorized Advisor; prior to this she was a Systems Analyst for 20 years.  Financially, she and her husband did everything they were told to do – 401(k)s, IRAs, 529’s for their kids, paid their mortgage down faster, and so on.  And where did it get them?  On the stock market rollercoaster, losing 40% of their assets in 1999, and even more in the early 2000’s.  In 2005, Debbie learned about the Bank on Yourself method using specialized whole life insurance, and she never looked back.  It stopped the slide of their retirement assets, it created predictability for their future, her husband stopped watching the daily tickertape, and most importantly, it saved their marriage.  After opening 13 whole life insurance policies, she decided to help spread the word and become an Authorized Advisor.  She always wondered why this was not taught in high school or college, so she’s passionate about educating others about it.
Debbie lives in West Hartford, CT with her husband Drew, two children (Bonnie and Sam), and dog (Snowflake). When Debbie is not working, you may find her taxiing her children around, coaching basketball, working out at the gym, or reading the newspaper.In order to provide her clients the level they expect and deserve, Debbie accepts only a small number of new clients each month who are committed to achieving lifetime financial security. 

Episode 224: Uninsured and Loving It with Andy Schoonover

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In this episode, we ask:

  • What about health insurance?
  • What is the cost for covering a family in the U.S. for healthcare?
  • Who is Andy Schoonover?
  • What about healthcare.gov?
  • What happened with Andy’s daughter?
  • How much was the 15-minute procedure?
  • What about procedures being considered medically unnecessary?
  • What is CrowdHealth?
  • What about families going bankrupt because of medical expenses?
  • What about catastrophic events leading to financial distress?
  • What about monthly premiums and deductibles?
  • What are our day to day medical needs?
  • How does one pay for the big medical expenses?
  • What is the cost?
  • What happens if the expenses exceed $500?
  • What about crowd funding for health care?
  • What about wellness visits?
  • What about ER visits?
  • Will other members pay the bill?
  • What are the incentives for giving?
  • What about claims?
  • What about medical bill negotiation?
  • What about getting the monthly bill low?
  • What about adding market forces into healthcare?
  • What about negotiating forces?
  • Who owns the money?
  • Who has to give permission to move money?
  • What about guarantees?
  • What about denial of claims?
  • How many bills have been funded?
  • Why is this so marginalized?
  • What about the regulatory environment?
  • Do you need to show a religious affiliation?
  • What are the guidelines?
  • What are the limitations or the pre-existing conditions?
  • How are health insurance premiums incentivized to go up?
  • How are the incentives different for CrowdHealth?
  • Would you like to try Andy’s offer on CrowdHealth?
  • Should we do something because every one else is doing it?
  • What about business owners?
  • What about heads of households?
  • Did you know we are thankful for you?

Andy Schoonover is the founder and CEO of CrowdHealth, a community-powered alternative to health insurance that provides a revolutionary way of paying for healthcare bills through crowdfunding. Schoonover was previously CEO of VRI, a healthcare technology company focused on monitoring patients with chronic conditions out of their homes. He is a graduate of the University of Virginia and Stanford University’s Graduate School of Business.

Episode 223: How They’re Stealing Your Pension, Even If You Don’t Have One with Chris Tobe

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In this episode, we ask:

  • Who is Chris Tobe?
  • What’s his story?
  • Have you read Kentucky Fried Pensions?
  • What about contracts?
  • What about excessive fees?
  • What about the tax payers?
  • What about the Chicago Police pensions?
  • Would you like to read the Twisted Priorities article?
  • What’s happened in Pennsylvania?
  • What about making a partial payment on a pension?
  • What about the pensioners?
  • What do we know?
  • What about cost of living increases?
  • What happened in the Detroit bankruptcy?
  • What about underfunded pensions?
  • What happens in bankruptcy?
  • How many pennies on the dollar are the pensioners likely to receive?
  • What other programs are underfunded?
  • What about social security?
  • What about money printing?
  • What’s the value of the money going to be?
  • Can states declare bankruptcy?
  • Can cities declare bankruptcy?
  • What about defined contribution plans, like 401(k)s?
  • What about target date funds?
  • What about private equity hedge funds?
  • What about the fees?
  • What about the scale of fees?
  • What about an example?
  • What came out of the mutual fund association?
  • What about a variable annuity?
  • What about expenses?
  • What about taxes?
  • What about full transparency?
  • What about public pensions?
  • What are the takeaways?
  • How destructive are 1% fees?
  • Is your pension transparent?
  • Are pensions going away?
  • What about the promise and delivery of a guaranteed lifetime income?

Chris Tobe, CFA, CAIA works as a pension investment consultant, expert witness, and author. His most recent book is “Kentucky Fried Pensions” and recently filmed with PBS Frontline on a Kentucky pension piece airing in October 2018. He is now working as a Chief Investment Officer with a Public Pension consulting firm out of New Orleans the Hackett-Group, where he has provided project consulting to a number of public pensions in MD, NC and TX.

From 2008-2012 he served as a Trustee and on the Investment and Audit Committees for the $14 billion Kentucky Retirement Systems.
From 2008-2009 he was a Sr. Consultant with New England Pension Consultants and worked with a number of public pension plans in Oklahoma, Missouri, Michigan and the District of Columbia. And was Former VP in 401k investments with AEGON 2001-2008.

He has written 4 books, dozens of articles and has been quoted in the Wall St. Journal, New York Times, Forbes, & Bloomberg. As a public pension trustee, he completed the Program for Advanced Trustee Studies at Harvard Law School and Fiduciary College held at the Stanford University.

Episode 222: Four Ways to Make Your Cash Value Grow Faster

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In this episode, we ask:

  • When will your cash value equal your death benefit?
  • What about an increase of cash?
  • Do you intend to make it to 121 years old?
  • What four ways can you accelerate your cash accumulation?
  • What about interest rates?
  • What about stock market performance?
  • Is it boring?

What is the first way?

  • What about a Limited Pay Whole Life policy?
  • What about paying to a certain age?
  • What about paying a limited number of premium payments?
  • What about a single premium payment?
  • What does this allow the policy to do?
  • What about a 10-Pay or 20-Pay?
  • What about paying premium to age 65 or age 100?
  • What about the time value of money?
  • What about the lack of flexibility?
  • What can be a great source of liquidity?

  • What is the second way?
    • What about a paid up additions rider or PUA rider?
    • What about a flexible paid up additions rider?
    • What about an old fashioned whole life insurance policy
    • What happens when you add a PUA rider, even without extra premium dollars?
    • Is underwriting necessary for PUAs?
    • What do you call money when it goes into a bank account?
    • What do you call money when it goes into a 401(k)?
    • What do you call money when it goes into a whole life insurance policy?
    • What does premium buy?
    • What is the most efficient type of insurance you can buy?
    • What about an example?
    • What if you want to add additional premiums to increase your cash value?
    • What are the limits to PUAs?
    • How much can you stack onto your base premium?
    • What about an example?
    • What capacity will you decide upon?
    • What happens when your buckets are full?
    • How does the insurance company limit you?
    • How does the IRS limit you?

  • What is the third way?
    • What about blending whole life insurance with a term insurance rider?
    • What is the combination?
  • What is the fourth way?
    • What about an existing policy that isn’t efficient?
    • What can you do about a whole life policy that is underperforming?
    • What is a 1035 exchange?
    • What can you do about a Variable Universal Life policy?
    • What about a tax free transfer of values?
    • What about an annuity?
    • What about accelerated death benefit rider?
    • What about an example?

  • What about a bonus way to grow your cash?
    • What about dividends?
    • How might one purchase PUAs with dividends?
    • Do PUAs become permanent insurance?
  • Would you like to leave us a review?
  • Would you like to share this show with someone you care about?
  • Would you like a free book?
  • Would you like a gift card?
  •  Would you like to schedule a 15-minute meeting with Mark?