Not Your Average Financial Podcast

Episode 221: Benefit from the Rising Cost of College with Marty Smith

November 26, 2021 by Not Your Average Financial Podcast

In this episode, we ask:

How might one cover the insane, rising cost of college without vaporizing retirement savings at the same time?
Do you have someone in your life going to college or planning to go to college?
Have you heard Episode 143?
Who is Marty Smith?
What about a story?
Do you like numbers?
What about a case study?

Please note: The numbers presented here are for the purpose of an example only.
Please Book a Meeting with us or another Bank On Yourself® Professional to run the numbers specific to your situation.

Would you like to join our membership site to participate in Office Hours?
Join at notyouraverage.mn.co

Marty Smith is Regional Vice President of Security Mutual Life Insurance Company of New York.

He loves the Infinite Banking and Bank on Yourself Concepts, Circle of Wealth, and Wealth & Wisdom.

He believes that “dividend-paying, cash-value whole life insurance” is the greatest financial product that’s ever been created.

Episode 220: Client Spotlight: Joe Rulli on Bread and Circuses and Banking

November 19, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

How about the times?
Have you heard of Bread and Circuses?
What about real, honest conversations?
Who is Joe Rulli?
What’s Joe story with money?
How is a co-op different from a condo?
What about co-office space?
What did Joe initially think about Bank on Yourself®?
What about volatility?
What about risk?
What about mutual life insurance companies?
What has Joe used his policy for?
What is Joe working on now?
What about monthly payments?
What about the mortgage?
What about Joe’s philosophy aligns with the philosophy of Bank on Yourself®?
What about interest?
What about growth?
What about freedom?
What about the history of banking and social unrest?
What are the benefits of a Bank on Yourself® type whole life insurance policy?
Have you read Debt: The First 5000 Years by David Graeber?
What does Joe recommend?
What about trust?
What is prosperity?
What is wisdom?
Would you like to read Joe’s latest book, Bread and Circuses?

Joseph Anthony Rulli is a transplanted Hoosier, living in Chicago since 2006. A 1987 graduate of the University of Notre Dame (BA, History) and a 1992 graduate of St. Meinrad School of Theology (MDiv) he taught Social Studies, Religion, Philosophy, and History at the high school level. He began writing as a career upon his arrival to his second city and has had two short stories published, a stage play performed, an electronic tour book published online, and The Chicago Haymarket Affair (History Press/Arcadia Publishing, 2016) his first print book, followed by Chicago Socialism: The People’s History (History Press/Arcadia Publishing, 2019).

His first novel, the satire Bread & Circuses, is due for an October release through Chicago-based Shy City House. He has just contracted with History Press/Arcadia Publishing for a third history, tentatively called Chicago Marching: Protest, Authority, and Violence Since 1855.

Episode 219: The 7702 Changes – Disaster or Christmas Miracle?

November 12, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

What about the smoke-filled room in Chicago’s Blackstone hotel?
What happened at the end of 2020?
What is the 7702 rule?
How does this affect life insurance?
When was this last changed?
What is the amount of premium that can fund a policy and stay in-force based on life insurance expenses and assumed interest rates?
Is it an investment?
Is it life insurance?
What happened in 1984?
What has changed in the last three decades?
What about government bond yields?
What about insurers?
What about guarantees?
Did the life insurance industry advocate for this rule?
What is the relationship between how much can you contribute and the amount of death benefit that the policy purchases?
What happens at age 121?
What are the assumptions?
What about the guaranteed interest rate?
What about 4% over the last few decades?
What happens when interest rates are very, very low?
What about operating a sustainable and profitable business?
How high were interest rates in the early 1980s?
How do life insurance companies generate profits?
What about bonds?
What happened after the peak in 10 year treasury yields?
What was the dilemma?
What about reflecting current economic realities?
What about making sure that life insurance can persist into the future?
What am I not saying?
What about the insurers ability to offer new policies?
What about a story?
What about dividend rates?
What about cash value?
What about guaranteed cash value accumulation?
What about a higher premium?
Can you go a lot farther?
Can you build cash value more efficiently?
What about less expense?
What happens from year 2021 and beyond?
How does this impact new policies?
What happens to existing policies?
What can you do with new policies?
What about the future of higher tax?
Would you like to meet with Mark? Schedule A Meeting

Episode 218: Top 10 Tough Questions When You Bank on Yourself (Part 2)

November 5, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

What are the hardest, toughest questions I’ve heard people ask?
Would you like to hear Episode 217?
Why should I use the company you’re showing me?
What about this other insurance company’s dividends?
What’s the story behind the dividend?
Is the company stable?
What are the 29 qualifications for a Bank on Yourself® type whole life insurance policy?
Does the life insurance death benefit cost too much?
Why can’t I just buy my own bonds?
How is banking a necessary function in society?
How will you know which bonds to buy?
Will you be able to borrow against your bonds?
Will you have the capacity to buy bulk bonds?
What about tax?
What about fees?
What about the true cost of a life insurance death benefit?
What happens to policy values if the U.S. dollar becomes less valuable?
What about the scarcity of a resource?
What about dollar valued assets?
What about interest rates rising?
What happens to your dividends when interest rates rise?
What about purchasing paid-up additions (PUAs) with dividends?
How are PUAs like tiny life insurance policies?
What about contracts?
Is dividend paying whole life insurance a contract?
How does one beat inflation?
How does one beat devaluation of the dollar?
What about future value?
What about insurance as a store of value?
What about life insurance going off the U.S. dollar (someday)?
What about change of currency (someday)?
What about the rate of return?
What about guaranteed growth?
What about the death benefit going to your loved ones?
What about the growth rate?
What about volatility and unpredictability?
What about getting close to the average rate of return?
What about you?
Who needs to know about this?
What does this spark in you?
What are people saying?
Have these episodes been valuable to you?
Would you like to write a review?

Episode 217: Top Ten Tough Questions When You Bank on Yourself (Part 1)

October 29, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

What about tough questions?
What about breaking even?
Why is Bank on Yourself® type whole life insurance worth it, when I am so close to retirement?
Have you missed opportunities?
Have you taken on too much risk?
…Compared to what?
What about an example?
Would you have enough money and time?
What about non paying tenants?
What about market downturns?
What is your time horizon?
Is your time horizon too short?
What would most financial advisors say?
What will you have?
What about real estate?
What about the stock market?
Why is it worth it?
What about an example?
What about a death benefit?
What about saving?
What about working?
Are you earning enough?
What accounts are taxable?
What makes sense?
What about waiting?
What is the best opportunity for my money today?
What about dealing with large sums of cash?
What about expenses?
What about policy loans?
What about locking in insurability?
What about earnings in a whole life insurance policy’s growth?
Can one get compounding back after losing the opportunity?
What about time?
What about guaranteed growth?
What about good health?
Is good health guaranteed?
What happens when one is uninsurable?
What about putting everything on hold?
Will life get in the way?
Is time your friend?
Is time your enemy?
Is there anything you can do about it?
Is the last deal you will ever do?
What would you like to give your future self?
Is there always more where that came from?
What is the power of the strategy?
How can I be sure that the life insurance company will come through on its guarantee?
What about guarantees?
Is past performance indicative of future results?
Would you like to listen to Episode 128?
What about bonds? What happens if bonds fail?
What about cash flow?
What about policy dividends?
What has happened since 1920 in corporate bond yields relative to inflation?
What about investment grade fixed income assets?
Why can’t I just forgo life insurance and save in a regular bank account?
What about an example?
What other financial vehicle can meet these expectations?
Does having your money safe and available for whatever you need take away any of your options? Or does it give you more options?
What tough questions do you have?

Episode 216: Shielding Against Sequence of Returns Risk with Jeff Hochwalt

October 22, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

What is the biggest hidden snake in your retirement plan?
What about bonds?
What about future taxes?
What about something outside of the market all together?
What is the biggest unseen risk?
What is sequence of return risk?
What about good news?
What about bad news?
Who is Jeff Hochwalt?
What’s Jeff’s story?
What has Jeff seen in the industry?
What did Jeff learn?
Have you read The Bank on Yourself Revolution by Pamela Yellen?
What about risk?
What is sequence of return risk?
Who could have predicted 2007 and 2008?
What happens in the first 5 to 10 years of a portfolio?
What are the four ways to manage sequence of return risk?
What about spending?
How might one overcome volatility?
What did Wade Pfau say in 2013?
What about the 4% withdraws rate (or the 4% rule)?
If you had a 50% rate of arriving to your destination, would you still go on the journey?
What about qualified plans?
Will you make it 30 years or beyond?
What about maintaining spending flexibility?
How might one reduce volatility?
What about fixed income assets, like bonds?
What about moving assets into lower risk products, like an annuity from an insurance company?
What about defined benefit pension plans?
What about a rising equity glide path?
What about buffer assets?
What about building two baskets of money in your accumulation years?
What about dividend paying whole life insurance?
What about more income in retirement with less risk?
How about two examples?
What about when financial professionals talk about averages?
What are some other considerations?
What about family protection?
What about wealth transfer?
What about the baby boomers?
What are the four steps?
What about another example?
How does this strategy make all the difference?
What happens when the market crashes?
What about a backup plan?
What about a buffer?
Would you like to hear Episode 194?
Would you like to reach out to Mark and/or Jeff?

Jeff Hochwalt, CLU, ChFC, Managing Member of Financial Resource Partners, LLIC, has helped more than 450 clients grow their wealth without the risk or volatility of stocks, real estate, and other traditional investments. Jeff helps his clients take control of their finances and reach their financial goals and dreams without taking unnecessary risks. That is why his clients think of him as their “secret weapon,” helping them build and safeguard their wealth.

Jeff lives in the East Denver area with his wife, Carla. Jeff and Carla have five grandchildren in Ohio that they visit often. When Jeff is not working, you may find traveling the United States and sometimes out of the country with a camera in his backpack. He is a member of several photography clubs and has won a few awards with his photography art.

To provide his clients the level of service he believes they expect and deserve, Jeff accepts only a small number of new clients each month who are committed to achieving lifetime financial security.

Connect with Jeff Hochwalt on LinkedIn

Episode 215: Client Spotlight with Jack Gerstner

October 15, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

Can you rely on someone else to create your financial plan?
Have you heard Episode 122?
Who is your money guru?
Who is Jack Gerstner?
What about financial education?
What about research?
What about being open to new ideas?
What about challenging assumptions constructively?
What is Jack’s story with money?
What’s Jack’s story with crypto?
What happened when Jack read the Bank on Yourself Revolution book?
How does Jack use and leverage the whole life insurance policies?
What about renovations on properties?
What about medical bills?
What about speculation?
What about leaving a legacy?
What about property taxes?
What about compounding power?
How are taxes life’s greatest expense?
What makes all the sense in the world?
What is Jack’s strategy with whole life insurance and crypto?
What about Bitcoin?
What about speculation and volatility?
What about dollar cost averaging?
What about risk?
What about dividend paying whole life insurance?
What about annuities?
What about “anchor” assets?
What is Jack’s framework for allocation?
What about an emergency fund of three to six months of living expenses in your whole life insurance policy?
What about giving your money a job?
What about Jack’s philosophy for finance?
How is money a tool?
What about trusting and verifying?
What is a wise allocation of time?
What about a healthy distrust of mainstream advice, in general?
What about financial responsibility?
How about owning and learning the right way?
How do Bank on Yourself® type whole life insurance policies allow you to take more responsibility?
Who cares the most about your money?
What about purchasing power?
What about inflation?
What about inflation as a tax?
What happens to dividends on policies when interest rates rise?
Why did Jack join the Navy?
What would Jack tell his 18-year-old self?
What about paying attention to time?
What about responsibility?
What is reliable?
What is within your control?
What about your internal locus of control?

Jack Gerstner lives in Elmhurst, IL with his beautiful wife Lauren and their daughter Mia. They have a baby boy due in November 2021. Jack is an Illinois native and has lived here his entire life. He is a Transportation and Logistics professional and an Officer in the Navy Reserve. When he’s not spending time with his family or working, Jack enjoys running, reading, and learning about finance. Jack started his Bank on Yourself journey in June 2014 with Lake Growth Financial and now has multiple policies on him and his family.
Contact Jack on LinkedIn

Episode 214: Not Your Average Inflation

October 8, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to join us tomorrow, October 9, 2021, for the Not Your Average Financial Summit?
What about the hyperinflation after WWI?
Is finance “just math”?
What about net worth?
What is far worse than being in a negative net worth?
What about interest payments to debt?
Would you like to view the U.S. Debt Clock?
What about the sizable national debt?
What about the net present value calculation?
What are the promises?
What about the terminal value or liquidation value?
What about global wealth?
What about large liabilities?
What happens systemically?
What about debt to GDP ratio?
What about math?
How much has the money supply grown?
How much has the population grown?
Is inflation a stealth tax?
What about compounding growth?
What about leverage?
What about the velocity of money?
What about purchasing power?
What are the banks trying to sell?
What about savings accounts?
Where can you get compound growth, leverage and velocity of money?
What did DALBAR say?
What about target date funds?
What was the year over year growth over the last 20 years?
Who has a 401(k)?
What about the real return vs. the advertised return?
Could real estate hedge inflation?
What happens in a time of crisis?
What are the options?
What else is there?
What are some not your average strategies?
What about fixed indexed annuities?
What about losing purchasing power?
What about having an inflation rider?
What about having a cost of living adjustment rider?
What about the behavior of the market?
What is laddering?
Can your money keep up with or exceed inflation?
How might we stabilize?
What about an example?
What about a dynamic response to inflation?
Is there inflation insurance?
What about Bank on Yourself® type whole life insurance policies?
Is whole life insurance immune to hyper inflation?
What happens when the rates go up?
Would you like to hear Episode 113?
What happens to bonds when inflation hits?
What do insurance companies invest into?
What are the rules?
What happens to insurance products when inflation hits?
Do you know anything else in the world can do what I just described?
How much value would you like to build for your business?
How might I respond in a positive way to whatever happens?
This is the last day before our summit, would you like to RSVP for tomorrow, October 9, 2021?

Episode 213: 8 Ways to Prosper From Annuities

October 1, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

Do annuities stink?
What are the retirement experts saying?

In this episode, I explore the Kiplinger’s Article from June 3, 2021 on 8 Surprising Ways to Prosper on Annuities and add some of my own thoughts. Have you read this article? It’s really good…

What are the three questions you need to ask yourself before buying an annuity?
How do you want to fund your annuity?
Can you add to a flexible annuity?
When do you want the money?
What is a SPIA (a single premium immediate annuity)?
What is a deferred annuity?
What about earning interest?
How do you want it to grow?
What is a fixed annuity?
What about variable annuities?
Who assumes all of the risk?
What is guaranteed?
What about a fixed deferred annuity?
What about a declared rate annuity?
What about the interest calculation?
How does an annuity compare to a CD?
What about the S&P 500?
What about when the market is up?
What about when the market drops?
What about allocations?
What about locked-in increases?
What is the safety of a fixed indexed annuity?
Does a fixed indexed annuity make sense for you?
What about charity?
What about long term care?
What about estate planning?
What about RMDs?
What is the bucket strategy?
What about the short term?
What about the medium term?
What about the long term?
What is laddering?
What is a bond market hedge?
What about period certain income?
What is bond market risk?
What about transferring wealth to your heirs?
Would you like to hear Episode 211?
What about an annuity with a death benefit?
What about a series of payments?
What about a joint life annuity?
Who is your survivor?
Does your survivor need to be a spouse?
What about a child or grandchild?
Does an inheritance strategy change the monthly income amount?
Does the annuity bypass probate?
What about social security benefits?
What about waiting until age 70 to take social security benefits?
What happens to the monthly amount?
What are the downsides?
What about health?
What about reliable income?
What about long term care expenses?
What about underwriting for long term care in an annuity?
Do they require medical exams?
What about giving more money to charity?
What is a charitable gift annuity?
What about minimizing estate taxes?
What about loss of liquidity?
What about reducing your required minimum distributions (RMDs)?
What is a QLAC or qualified life annuity contract?
Are you forced to take money out of qualified plans?
What happens at age 85?
How might one beat a CD at its own game?
What is a MYGA or multi-year guaranteed annuity?
What about a fixed period of time?
What about an additional savings bucket for retirement?
What about a fixed annuity over a certain period of time?
What are the options?
What’s the difference between a CD and a MYGA?
Who issues a CD?
Who issues a MYGA?
What about interest?
What about tax?
What about medical bills?
What about a strategy?
You’ve heard of deferred tax? What about deferred income?
What about two streams of income?
What about pay raises?
What about growth?
What about repaying a whole life insurance loan?
What surprising ways have you prospered from annuities?

Episode 212: The Coming Revolution in Lifetime Income

September 24, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to join us for a one-day summit on October 9, 2021? Scroll down for access!
Would you like to read the founder of Bank on Yourself®, Pamela Yellen’s guaranteed lifetime income report?
Would you like to reach out to us and we’ll send it to you?
What about retirement?
What did William Sharpe say?
How will you plan?
How long will your money need to last?
Do you have a backup plan?
What has changed over the generations?
Is this a new problem?
What is an annuity?
What are the guarantees?
What is the value?
How are annuities protective?
What is the only true form of retirement security?
What is the Lindy effect?
Which will be here longer: the book or the digital book?
What about the news?
What about gold?
What about annuities?
How far back do annuities go back?
What happened in 1759?
How can one receive a guaranteed lifetime income from an annuity?
What about a lifetime income rider?
What about an example?
What about income with increases?
What about contracts?
What are options for spouses?
What is a joint life payout?
What happens upon death?
Would you like to meet with Mark?
How will your money grow?
What about tax?
What is a thing of beauty?
What about rollovers and transfers?
Would you like a few examples?
What about tax deferral?
What about long term savings purposes?
What about surrender charges?
What about liquidity?
What is a surrender period?
What about penalties?
What about surrender-free withdrawals?
What about penalty-free withdrawals?
What about a long-term income play?
What about emergencies?
What about surrender charges on CDs?
What about brokerage surrender charges?
What did Richard Thaler say?
What about solving your own retirement problems?
Who will you work with?
Are they qualified?
Are they competent?
Do they understand how to help you?
Would you like to work with us?
Would you like Pamela Yellen’s full report?
How will you get to your goals?

Join Us! Saturday, October 9, 2021

9:00am – 3:30pm CDT

REGISTER NOW

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