Not Your Average Financial Podcast™

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

Episode 171: Unemployment, Post-COVID with Nicole Martin and Katie Cummins

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In this episode, we ask:

  • Are you unemployed?
  • Are you faced with challenges, as a business owner?
  • Who is Nicole Martin?
  • Who is Katie Cummins?
  • What about leadership?
  • What about shared leadership?
  • What ingredients do you have to put on the table?
  • What’s the state of our current employment landscape?
  • What’s the biggest competition?
  • What happened with the low wage jobs recently?
  • What about the other industry shifts?
  • What will the talent pool look like post-COVID?
  • What happens to the workplace?
  • How might we adjust?
  • What changes do we need to make?
  • What about furloughs and layoffs?
  • What about industries that need more staff than they can locate?
  • What about virtual work?
  • What about working in the office?
  • Will we go back to the way things were before?
  • What are some fun and creative things happening in this new normal?
  • What about fun family activities while working from home?
  • What about meeting pets and family members of coworkers for the first time?
  • How might we develop caring?
  • What about the Best and Brightest survey?
  • To whom might you reach out?
  • What does this crisis make possible?
  • What about a chaplain?
  • What about Zoom Bingo?
  • What about drink parties?
  • What about high performing businesses?
  • What are the four pillars of a high performing business?
  • What about shared core values?
  • What about everyone being a leader?
  • What about transcendent organizational value and purpose?
  • Have you ever just asked why?
  • What about performance excellence?
  • What about measuring indicators?
  • What about growth mindset?
  • How might we innovate?
  • What about trying something new?
  • Is now the time?
  • Are you a leader of the future?
  • Would you like to be in business for yourself but not by yourself?
  • Do you love what you do?
  • What does it look like to create your own path?
  • What about truth telling?
  • Would you like to apply to work with Mark and the Lake Growth team? bit.ly/worklg
  • What does HR Boost do for clients?
  • What about the free scorecard?
  • What are the takeaways?

Nicole Martin is Chief Empowerment Officer and Founder of HRBoost, LLC, a HR Shared Services consulting firm based in Chicago, Illinois. In recognition of her professional excellence as well as her community, Nicole has been honored by multiple organizations including most recently as one of Mirror Review’s 10 Game Changing Women in 2019. Awardee for Business Excellence by the Chicago Daily Herald, and a 2016 Enterprising Women of the Year Champion by Enterprising Women Magazine. A sought-after expert, her knowledge and advice have been featured in newspapers and magazines throughout the country. In addition, Nicole is the host online of HR in the Fast Lane and contributing writer for the Chicago Business Journal. Nicole has authored, International Literary Award and Amazon Best Seller, The Talent Emergency, the accompanying Talent Emergency Guidebook, The Human Side of Profitability, The Power of Joy & Purpose, and her newly released co-authored book No Fear Negotiation for Women. Nicole serves on a number of Boards dedicated to Human Capital, Culture and HR Excellence of which include Best & Brightest® Companies to Work For, Social Service in the community and Women in Business. To learn more about Nicole, go to www.hrboost.com or www.nicolemartin.live

 

Katie Cummins is a talented Human Resource professional and leader with experience across multiple industries and HR practices. She is an HR Consultant with HRBoost, LLC, an HR outsourcing and consulting firm. HRBoost believes every business deserves Strategic HR from day one and provides fully integrated HR outsourcing to HR projects and everything in between.

 

Episode 170: Sick of Health Insurance? Here’s an alternative with Joel Noble and Samaritan Ministries

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In this episode, we ask:

  • What’s one of the top reasons people go broke?
  • Who is Joel Noble?
  • How does Joel define leadership?
  • What is Samaritan ministries?
  • What is a “non-insurance” way to meet medical needs?
  • What about the ongoing crisis in medical needs?
  • What is the cost of health coverage for most families?
  • What about “cutting out the middle man”?
  • What about risk assessment?
  • What about the cost?
  • What is the new program, “Given”?
  • How did Samaritan start?
  • What were price controls?
  • What are the origins of employer based health insurance?
  • How did employer based health insurance take off?
  • What about the mandate?
  • What about the penalty?
  • What about health care sharing?
  • What’s the history of health care sharing?
  • What about Mennonites and Amish barn raising?
  • What about community “pots”?
  • What about health care expenses?
  • What about monthly health care cost sharing?
  • How much does Samaritan’s network circulate monthly?
  • What about trust?
  • What’s the difference between a share and a premium?
  • How is this different from a health insurance?
  • What happens if a family misses a share?
  • Want to hear Mark’s injury story?
  • What was Mark’s experience?
  • What about Joel’s experience?
  • What other advantages are here?
  • What about community?
  • What about networks?
  • What about going out of network?
  • What about the freedom to go where you want?
  • What about assumptions?
  • Who is this not for?
  • How is insurance ingrained into our society?
  • What about medical debt?
  • What about medicare?
  • What about opting in?
  • What about a waiver?
  • What are the penalties?
  • Are there prohibited services?
  • What about medical tourism?
  • How are members incentivised to make savvy financial choices?
  • What is healthcare bluebook?
  • How might one look up procedures and providers?
  • What about the online access?
  • What about the need?
  • What are the out of pocket costs?
  • How is this different from a high deductible health plan?
  • How many people in the U.S. are doing this?
  • What does Joel wish people knew?
  • What about the affordable care act?
  • What about faith based nonprofits?
  • What happens if people become sick?
  • What about the ACA penalty for members?
  • Would you like to learn more?
  • What are the takeaways?

Joel Noble is Director of Public Policy at Samaritan Ministries International, where he has served since 2001. He directs the ministry’s legislative program, advocating with federal and state governmental bodies. He also consults for the Alliance of Health Care Sharing Ministries. Joel earned his bachelor’s degree in history education from Illinois State University, with an emphasis on political science, geography and sociology. He completed a Master of Arts in leadership studies from the Seminary at Lincoln Christian University, where his final research paper focused on what the Bible teaches on the proper jurisdiction of the family, church and civil government. He has been married to his wife, Sarah, for 19 years. They have four boys.

Episode 169: How to Give Double to Your Favorite Charity, Without Any More Out of Pocket!

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In this episode, we ask:

  • Have you wished you could give more?
  • How might you leave a substantial legacy?
  • How might your gifts affect generations?
  • Who is Mark Willis?
  • Would you like to have a meeting regarding charitable giving? Would you like to book a meeting with Mark at lakegrowth.com/schedule to discuss?
  • What about old debt?
  • How might we help the charities thrive?
  • How about thinking through a game plan?
  • What are the options for giving?
  • Are you making an exit strategy?
  • What about nonprofits?
  • What about donor advised funds?
  • What about foundations?
  • What about endowments?
  • What about trusts?
  • Are we a saving nation or a debt nation?
  • What about finite resources?
  • How large are the debt payments?
  • What happens when we haven’t been able to give?
  • When are donors least likely able to give?
  • Why is giving so important?
  • What happened in the year 2020?
  • Can one donate debt?
  • Why is debt so heavy?
  • Who is sitting behind the banker’s desk?
  • What if you could use the idea of banking to your advantage?
  • What about buffering against inflation?
  • What about dividend paying permanent whole life insurance?
  • What about impacting your personal life?
  • What about impacting the charity, as a donor?
  • What are the possibilities for beneficiaries?
  • What about the dividends?
  • What about the guarantees?
  • What about the interest?
  • What about the parable of the talents?
  • How fast could a charity get access to money?
  • Can you give cash value to a charity?
  • What about using the cash value for personal benefits?
  • What about charitable gifts?
  • Are you an insurable interest to the charity?
  • Can the charity be the owner and beneficiary of a policy?
  • What about tax savings?
  • What about doubling the gift?
  • What about an example?
  • What about a policy loan?
  • What about church gifts?
  • What about church leader care?
  • Can you purchase life insurance policies on a church?
  • What is a key person policy?
  • What about annual or routine giving?
  • What about tax deductions?
  • What about how it feels?
  • How do you give to your favorite charity?
  • Why do you give to your favorite charity?
  • What about giving on a limited budget?
  • How long does an example take to “pay for itself”?
  • How is this different from traditional “pass the plate” strategies?
  • Do you simultaneously need the gift for your own needs?
  • What about a car loan example?
  • What about age?
  • What about numbers?
  • What happens if you pass away?
  • What happens if you need income?
  • What about a Bank on Yourself type whole life insurance policy?
  • What does this all mean?
  • What’s the difference with the charitable banking strategy?
  • How is this a win/win situation?
  • What are the considerations?
  • What are the downsides?
  • Is this a long term strategy?
  • What about a leaving a legacy?
  • Who do you need to tell?
  • Would you like to see if this makes sense for you?
  • Would you like to talk with Mark about charitable giving? Schedule a phone introduction appointment with Mark.
  • How is it possible to double a legacy?
  • What about the tax implications?
  • Would you like to make your dreams for a better world come true?

Episode 168: Robert Farrington, the College Investor

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In this episode, we ask:

  • What’s the number one thing in your financial life?
  • What is the moment that compounding can work for you?
  • Would you like to work with Mark? Learn more and apply at bit.ly/worklg
  • How much student debt is there?
  • How did Robert earn his first dollar?
  • How did Robert’s article get so many eyeballs?
  • What about student loan debt?
  • What’s Robert’s story?
  • What are the implications of student loans?
  • How did Robert get debt free?
  • What about increasing income?
  • Who knows how many they have?
  • Did you take out loans with your parents?
  • Did you take out loans with your kids?
  • What are Robert’s 30 ideas for passive income?
  • What repayment can you afford?
  • Should you kick the can down the road?
  • What will you do for the next five years?
  • Do you have a  system that works for you?
  • What are the odds of loan forgiveness?
  • What programs are available?
  • Are you into public service?
  • Can you get something for nothing?
  • What are the general rules of thumb?
  • What about refinancing?
  • What are the problems with Parent Plus loans?
  • What about family drama?
  • What about legal responsibility?
  • What are the rates now?
  • Should you be debt free before doing anything else?
  • What about the rate of return?
  • What about time?
  • Can you be this age again?
  • Would you like to visit thecollegeinvestor.com?
  • Would you like to learn more at loanbuddy.us?
  • What about consistency?
  • What about sticking with it?
  • What are the takeaways?
  • What about the volume of time?
  • What about refinancing student loan?
  • What about 529 plans for paying off student loan debt?
  • What are the takeaways?
  • Would you like to join us on Zoom, Tuesday, December 1?
    • When: Dec 1, 2020 02:00 PM Central Time (US and Canada)
    • Topic: Savings Smackdown – Save Now or Save Later
    • Register in advance for this webinar. After registering, you will receive a confirmation email containing information about joining the webinar.

Robert Farrington is a student loan debt expert and the founder of The College Investor. He has been helping people navigate student loans, investing, and wealth-building for over 10 years.

Episode 167: Don’t Worry, Retire Happy with Tom Hegna

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In this episode, we ask:

  • Who is Tom Hegna?
  • What was Tom taught at a young age?
  • What about savings?
  • What about a Math Party?
  • What’s the problem?
  • What needs to change?
  • What does retirement mean for Tom?
  • Are you getting any younger?
  • Can you take any of it with you?
  • What does Tom think about annuities?
  • What’s the stupidest thing someone can do?
  • What’s the difference between variable and fixed indexed annuities?
  • What about bonds?
  • What about income annuities?
  • What is retirement all about?
  • Is guaranteed lifetime income possible?
  • What about AUM (assets under management) fees?
  • What do the retirement studies say?
  • Do you have enough income for basic expenses in retirement?
  • Is there a substitute for guaranteed lifetime income?
  • Why do people rebel against the optimal?
  • What are Tom’s books?
  • What does AAA mean?
  • What does CCC mean?
  • What’s a mortality credit?
  • What else do you need to learn?
  • Would you like to work with us? See the job description here: http://bit.ly/worklg

Tom Hegna, CLU, ChFC, CASL, is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be THE Retirement Income Expert!.

As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature “Paychecks and Playchecks” retirement approach, helping Baby Boomers and seniors retire the “optimal” way. He has condensed a large chunk of his considerable knowledge into 5 books.

 

Episode 166: Sean Morrissey is Landlording for Life

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In this episode, we ask:

  • When was your moment?
  • Who is Sean Morrissey?
  • Have you heard the podcast Landlording for Life?
  • Who is Sean leading?
  • What about buy and hold real estate?
  • What is leading with lifestyle?
  • What does financial freedom mean for Sean?
  • What happened when banks lowered the line of credit?
  • What happened for four years?
  • What did Sean learn?
  • What does Sean do and what does liquidity do for Sean’s business?
  • How did Sean get started?
  • What is the value of liquidity?
  • What are the challenges for landlords right now?
  • What does the average guy or gal not realize about the need we have for access to capital?
  • Is it easy to buy?
  • What’s the weird position?
  • Are you liquid enough?
  • What about roughly 3% of capital expenditures and reserves?
  • What about roughly 5% for vacancy?
  • What about roughly 3% for a liquidity factor?
  • What about the “what if” game?
  • What about Mark’s meeting with Sean?
  • What surprised Sean?
  • What did Sean find?
  • Have you heard Episode 159 and Episode 160?
  • What did Sean learn?
  • What about universal life policies?
  • Are all mutual insurance companies good for Bank on Yourself® type policies?
  • Why does the contract matter on a life insurance policy?
  • What is a direct recognition loan provision?
  • What about non direct recognition company?
  • What’s an eye opener?
  • What are Sean’s hopes?
  • How does Sean plan to use his policies in sync with real estate?
  • What does Sean see, looking back?
  • How does Sean think big enough now?
  • Where do you want to be in 10 to 20 years?
  • When do we want our money most efficient?
  • What’s the power of a whole life insurance policy (especially the older ones)?
  • What about tax deductions and depreciation in real estate?
  • What about long range thinking?
  • What are the options down the road?
  • What’s the problem of real estate without whole life?
  • Would you like to work with Sean?
  • What is happening with evictions in Illinois?
  • What about liquidity?
  • What about setting sights too small?
  • How big can you think?
  • What about opportunities?
  • Want to work with us? We’re hiring. http://bit.ly/worklg

Sean Morrissey is a landlord and real estate broker, in the western suburbs of the Chicagoland area, who has built a $7M real estate portfolio and owns/manages Chicagoland Realty Group Partners LLC.

Having managed 200+ properties for landlords in the Chicagoland area, Sean has built property management systems to make “buy and hold” real estate sustainable and wealth-building.

Sean’s proudest achievement is being able to spend his days with his wife, two kids, dog and cat in what some may define a financial freedom lifestyle. Sean is the host of the real estate “buy and hold” real estate investor podcast called Landlording for Life.

Episode 165: Combining Bank on Yourself® with Profit First

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In this episode, we ask:

  • Would you like to work with us? Visit bit.ly/worklg
  • Is this your moment?
  • Would you like to learn how to combine the Bank on Yourself® strategy with Profit First?
  • Who are Brandon and Amanda Neely?
  • Can you build the wealth you really want?
  • What’s Amanda and Brandon’s story?
  • How many bank accounts do you need?
  • How much does an average bank account earn in interest?
  • How much does an average Bank on Yourself® type dividend paying whole life insurance policy earn?
  • What’s the story of Amanda’s client?
  • Who’s the boss?
  • How might you get the best results?
  • Are you financially set for life?
  • Who is taking unnecessary risk?
  • What’s the next step?
  • Who is in the banking business?
  • What makes business owners special?
  • How will Bank on Yourself® help you grow wealth?
  • What about the return of your capital?
  • What are the risks?
  • What about the options?
  • What are the benefits?
  • What about a volatility buffer?
  • Should you only do Bank on Yourself®?
  • What is Profit First?
  • What about debt?
  • What about paying cash for major purchases?
  • How might Bank on Yourself® help you to navigate the opportunity cost?
  • Are you in a W-2 job?
  • Will you run out of money?
  • Are you earning interest or paying interest?
  • Is all of your money tied up in a government sponsored 401(k)?
  • What about a diversified portfolio?
  • How might one break the paycheck-to-paycheck cycle?
  • What are the objections to Profit First?
  • Have you ever received a massive tax bill?
  • How does one pay the huge tax bill?
  • Will you find a way to be profitable?
  • Are you at least 1% profitable?
  • How do Bank on Yourself® and Profit First work together?
  • Do you give every dollar a job?
  • Would you like a copy of the spreadsheet? Email Mark at hello@nyafinancialpodcast.com
  • What are the steps for setting this up?
  • What could this mean for you?
  • Could this benefit you?
  • Do you need someone to help set up Profit First?
  • Do you need someone to help you set up Bank on Yourself®?
  • Would you like to schedule an intro call? The link is case-sensitive: bit.ly/BOYPF123
  • What’s your next best step?
  • What adjustments do you need to make?
  • What’s the death benefit?
  • Why are not-so-average strategies so important?

Profit First Chart

Profit First Chart

 

How Profit First works with Bank on Yourself®

 

 

Episode 164: From the Unthinkable to the Obvious

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In this episode, we ask:

  • We are hiring! Want to work with us? http://bit.ly/worklg
  • Does it sound absurd?
  • How is this possible?
  • What is Overton’s window?
  • What are the six steps?
  • What are the limits and the range?
  • What about mad libs?
  • What about farmers?
  • How did the idea of taxes begin to change?
  • What about saving?
  • What about the stock market?
  • How long have we had the 401(k) in play?
  • What is safe?
  • How much is your emergency fund?
  • What did the DALBAR study say about true market performance?
  • Does the evidence match the beliefs?
  • What about the gold standard?
  • What happened to interest rates?
  • What is the dollar tied to now?
  • What about lifestyle pressure?
  • What about both partners working?
  • What about savings?
  • What about keeping up?
  • Why was the 401(k) so appealing in the beginning?
  • Where is a nation of speculators born?
  • What are the takeaways?
  • What about Overton’s Window mixed with Parkinson’s law?
  • What about the boiled frog?
  • What about dollar cost averaging?
  • What about dividend paying whole life insurance?
  • What is a smarter strategy?
  • What is so unthinkable?
  • Do you love being not so average?
  • Would you like a free book? Email us at hello@nyafinancialpodcast.com
  • Would you like to get our episodes delivered right to your inbox so you don’t miss the amazing free content we’re giving out each week? Would you also like to get exclusive access to live calls, office hours and Q&A with me and our esteemed guests? http://nyafinancialpodcast.com/subscribe/

 

Episode 163: Why Banks Need Insurance Companies with Kevin Greer

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In this episode, we ask:

  • Would you like to be the owner?
  • What about assets?
  • Who is Kevin Greer?
  • Who works with Kevin?
  • What’s the craziest thing Kevin’s seen?
  • What about families inheriting properties?
  • What about estates and life insurance death benefits?
  • How does Kevin acquire properties for BankFinancial?
  • What’s the big difference for a smaller bank?
  • Who is the target market?
  • Why does it make sense to work with a community bank?
  • How does cash value life insurance factor into net worth calculations?
  • What does Kevin see on the balance sheets?
  • What about term insurance?
  • What is a future asset vs. current asset?
  • What about liquidation situations?
  • What are capital markets?
  • What are BankFinancial’s sweet spot?
  • What is a recourse loan?
  • How does one personally guarantee a loan?
  • What is it like, as a bank, borrowing from life insurance companies?
  • What kind of loans do life insurance companies want?
  • What are the companies looking for?
  • How might you, as an owner in a mutual life insurance company, participate in these deals?
  • What about cash flow?
  • What about yield?
  • What about private lending (sort of like hard money lending)?
  • How does Kevin help private lenders?
  • How did Kevin discover his passion for this work?
  • Would you like to talk with Kevin?
  • What are the takeaways?
  • What is a current asset? What is a future asset?

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

Kevin Greer, a commercial and multifamily real estate specialist for BankFinancial, has over 25 years experience lending and has closed over $100 million in real estate financing transactions.

Kevin participated on bank REO committees and REO disposition teams. In addition, Kevin has personally bought and sold several real estate properties over the past 15 years. 

 

Episode 162: Real Estate Investing and Bank on Yourself® with Lane Kawaoka

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In this episode, we ask:

  • Who is Lane Kawaoka?
  • How did Lane start his portfolio?
  • What does Lane like to purchase?
  • What about “recession resistant” properties?
  • Why did Lane choose real estate?
  • What is Lane’s opportunity fund?
  • What about litigation protection? How does that work in each state?
  • What about retirement plans or qualified money?
  • What about tax advantages?
  • What is the advantage of using non qualified money?
  • What is cost segregation?
  • What is bonus depreciation?
  • Do the tax benefits get passed down to LPs?
  • What happens with high income earners?
  • What about the Required Minimum Distribution in retirement?
  • What is preferable about whole life insurance?
  • How does Lane pick his deals?
  • Why are relationships so important?
  • What about choosing the right, trustworthy people?
  • What are the three keys to success?
  • Does the income exceed the expenses (and then some)?
  • What about cash flow investing?
  • Would you like to hear Lane’s podcast, Simple Passive Cashflow?
  • What about Lane’s Mastermind, Passive Investor Accelerator?
  • What are the takeaways?

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

 

Lane Kawoaka has been investing for over a decade and now controls 2,600+ units.  As owner of CrowdfundAloha.com, SimplePassiveCashflow.com, and ReiAloha.com, Lane is responsible for finding investment opportunities, analysis, and marketing. Mr. Kawaoka obtained a BS in Industrial Engineer and MS in Civil Engineering and Construction Management from the University of Washington. In addition to an analytical engineering background, Lane has real world experience in working as a project manager for over $230 million dollars of capital construction projects in both the public and private sector. Working as a high paid professional in Corporate America and frustrated by the traditional wealth building dogma, Lane was compelled to inspire and mentor other working professionals via his Top-50 Investing podcast at SimplePassiveCashflow.com.