Not Your Average Financial Podcast

Episode 121: A Strategy for RMDs

December 27, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

What is a Required Minimum Distribution (RMDs)?
What happened when you put your income into the deferred tax account?
How will the tax be paid?
When will the tax be paid?
What is built into the Internal Revenue Code?
When do Required Minimum Distributions become payable?
What about age 70.5?
What about age 59.5?
What is this magical 11 year time zone?
Do you own a qualified plan?
When you can you withdraw funds?
What about penalties?
Have you heard about the 70.5 deadline?
A 50% penalty?! 50%?!
When do you think taxes will be higher?
What happens if you pass away with a qualified plan?
What does your partner have to do?
Would you like an example?
How does one calculate an RMD?
What is your life expectancy?
What is the balance of the account?
Are RMDs taxed at ordinary income tax rates?
Is your spouse 10 years younger than you?
Will RMDs force you into a higher tax bracket?
Will RMDs raise your Medicare premiums?
What if you have assets inside of your qualified accounts?
Will you have to sell your stocks?
Will you have to sell your real estate?
Does the RMD care?
What happens if you live past your life expectancy?
What happens if you need it for long term care?
What about the 4% rule?
How successful is the 4% rule?
What about 2.8%?
What about 6.5%?
Has the government updated their formula to reflect these new findings?
Will most run out of money?
What is the new SECURE ACT in congress?
What are some ideas to consider?
Are you in your mid to late 50s?
How much do you have that will be exposed to ordinary income tax?
Would you like protection from required minimum distributions?
Are there multiple accounts that you would like to consolidate?
How might you leave a substantial legacy for your children?
What about a life insurance policy?
Are today’s tax rates historically low?
How much will you be forced to take out of your retirement accounts?
How could you leave your family far more than you ever saved?
Would you like to view some example numbers? Note: this is only an example. To see your exact numbers, please contact us.
How might we help you with an RMD strategy? Hop on our calendar for a FREE 15 minute Introduction Phone Call
Do you own a Bank on Yourself® type policy? Do you believe that Bank on Yourself is a scam? Leave us a message and let us know your experience!

Episode 120: Are You Investing and Banking at Retail Prices?

December 20, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Are you ready?
What is the most wonderful shopping season?
Would you like to retire right now?
What is it we’re talking about when we talk about money?
Can you meet your life goals without money?
Should we put money in the stock market and wait?
What are taxes going to do?
Will you get more than a 10% return on your money?
What can you expect from the stock market?
Why does Dave Ramsey still quote 12% annually on mutual funds when advisors aren’t allowed to do that?
What are real investors actually receiving, according to DALBAR?
What about fees?
What are the ongoing costs?
What are 12b1 fees?
What are other expenses?
What about redemption fees?
What about exchange fees?
What about the account fee?
Do you have to keep a minimum balance in that fund?
How might you think outside of the “retail” investing space?
What if you could invest at “wholesale” prices?
What is a REIT?
What about a private equity fund?
What is the trouble with wholesale shopping?
What about getting the top of the line model?
Are you giving up liquidity?
Does the government regulate who has access to wholesale?
What is an accredited investor?
How might you shop direct?
Do you increase your return with direct investing?
Do you increase your risk with direct investing?
Do you increase your control with direct investing?
How can you increase the tax benefits?
Would you like to defer your tax?
What about a Roth IRA?
What about offsetting rent income with expenses?
Can you do this inside a Roth IRAs?
What is the disadvantage of a self-directed IRA?
What about a professional real estate investor?
Who is blocking you when you’re a direct investor?
How can you eliminate the bank from the equation?
What about the function of banking at the retail, wholesale and direct levels?
What about Bank on Yourself® type designed whole life insurance policies?
What if you could become a banker in the direct sense of the word?
Are you a private money lender?
What happens when banks stop lending?
Could you offer your friends or family a better rate and better terms?
Could you become a lender to improve your financial picture?
How many fees are in your portfolio?
Are you an accredited investor?
Have you seen crunchbase.com?
Do you budget your cash value?
Have you started using YNAB (youneedabudget.com)?
Would you like to talk with us about making your financial picture more direct?
We have a question for you… Is Bank on Yourself a scam? Let us know at speakpipe.com/nyafp
Would you like to leave us a review at Apple Podcasts?
Would you like a complimentary copy of Pamela Yellen’s latest book?

Episode 119: Building Wealth That Leads to the Blissful Life with Moneeka Sawyer

December 13, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Do you remember what happened in 2008?
What did JAMA say about “Wealth Shock”?
Who is Moneeka Sawyer?
How does Moneeka manage a multimillion dollar business?
How does Moneeka choose bliss?
What did Moneeka experience as a very young person?
How did Moneeka breakthrough?
What did Moneeka learn from her dad?
Do you want “poor people money issues” or “rich people money issues”?
What was Moneeka’s prayer?
How did Moneeka’s coach affect her?
What is a “bliss mentor”?
What does Moneeka love about real estate?
What do we do each day to set ourselves up for strength?
What is bliss?
Can you handle anything that life sends your way?
What is emotional resilience?
What is your default emotional home?
What is the bliss equilibrium?
What are the techniques to get back to bliss?
How do we create deep joy and contentment?
What are the tools to come back to equilibrium?
What is blissful wealth?
How do we support joy in life?
How is wealth a part of our life and a part of who we are?
How do we get the ultimate goals of what we want?
Is there ever an end goal?
Where does bliss happen?
How does Moneeka help successful people come back to bliss?
How is money an amplifier?
What are your core values?
How do you align to those values?
How do you know what your values are?
Would you like to read Moneeka’s book, Choose Bliss: The Power and Practice of Joy and Contentment?
What is a bliss moment?
Have you ever stopped, dropped and breathed?
How does one make better decisions?
Would you like to listen to Moneeka’s podcast, Real Estate Investing for Women?
Would you like to download Moneeka’s story at blissfulinvestor.com?
Is Moneeka still dancing?
What questions do you have? Would you let us know on speak pipe?

Moneeka Sawyer is often described as one of the most blissful people you will ever meet. She has been investing in Real Estate for over 20 years, so has been through all the different cycles of the market. Still, she has turned $10,000 into over $2,000,000, working only 5-10 hours per MONTH with very little stress.

While building her multi-million dollar business, she has travelled to over 55 countries, dances every single day, supports causes that are important to her, and spends lots of time with her husband of over 20 years.

She is the international best-selling author of the multiple award-winning book “Choose Bliss: The Power and Practice of Joy and Contentment.”

She is the host of the Podcast Real Estate Investing for Women and her expertise, and bliss-filled laugh, have been featured on stages, radio, podcasts and TV stations including ABC, CBS, FOX, and the CW, impacting over 100 million people.

Episode 118: How to Triple Your Net Worth Building Real Wealth with Dan Proskauer and Alan Eckstrand

December 6, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Who is Dan Proskauer?
How did Dan triple his net worth?
How long has it taken Dan to triple his net worth?
How many years has Dan been keeping up with his net worth in Quicken?
What was the first thing that Dan did with his policy?
How many Bank on Yourself type policies does Dan own?
How did Dan restructure his money?
What can you do if you have enough money?
Do you need to take the risk?
How has having a policy helped Dan invest wisely?
How has Dan been able to take advantage of opportunities?
What did Dan do with his profits?
What is so special about the paid up additions rider?
Why did Dan switch from paying premiums monthly to annually?
How does Dan carry debt?
How does Dan “blow up the balloon”?
How has Dan leveraged a HELOC?
How will one’s net worth be impacted over time?
How many of Dan’s kids are in school?
How has Dan built real wealth?
Is Dan special?
Do all Bank on Yourself type policy holders have a chart like this?
Would you like to see the chart?
Is Bank on Yourself a scam? Leave us a voice message with your thoughts and questions on speak pipe!

Dan Proskauer is Vice President of Engineering United Health Group’s Optum unit and has spent nearly 30 years as a professional in the Semiconductor and Health Care industries.

He is an engineer by personality and by training and has always been fascinated by details and numbers. Dan has been a Bank on Yourself practitioner since mid-2009 and has started new policies as recently as last year.

Special thanks to Jeff Hochwalt (jeff@financialrp.com) and Alan Eckstrand (alan@thefinancefixer.com) for joining us on this episode!

Episode 117: The Billionaire’s Secret – Is Giving The Key to Wealth?

November 29, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Is it better to give than to receive?
What drives us to help others?
Are we hard wired to be selfish?
Why do we take care of the most vulnerable?
How might we cooperate?
Are we only out for survival?
Why does it feel so good to help other people?
What happens to our brains when giving?
How does generosity affect our biology?
What is the basis for the joy of giving?
Are the wealthy full of wealth because they give?
What about the Bill and Melinda Gates Foundation?
How much have they donated?
How much have they donated this year?
How has Bill Gates’ personal net worth changed?
Does giving increase your wealth?
Do people give more when they earn more?
Does giving lead to an increase in wealth?
What is the connection between giving and wealth?
What is a charitable impulse?
What is the psychology of giving?
Does giving increase your happiness?
What about dopamine?
What strategies might relieve the stress of the holidays?
How can you increase happiness?
How might you increase productivity?
Will the next million matter as much?
What is the mental shift?
How might you build more wealth for others?
What lights the fire under you?
Are you chasing your net worth as a main target?
How will serving others help you toward your target?
How might your network increase?
How might your net worth increase?
How might you reach your potential?
How might you donate time?
How might you donate skills?
Would you like to give us a minute or two of your time and tell us how we’ve impacted you? Leave us a message here: www.speakpipe.com/nyafp
Would you like to GIVE us a review on iTunes?
Do you know how grateful we are for you?

Episode 116: Your Journey of Financial Independence

November 22, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Are you so thankful for Holly?
Have you seen Pamela Yellen’s new book, Rescue Your Retirement?
If you leave us a review on iTunes and send a screenshot of your review to hello@nyafinancialpodcast.com, we’ll send you a copy of the book for free! (December 31, 2019 is the deadline for this offer)
Do you find your self wrapped up in a compelling story?
Who are the characters?
What part do you play in your financial journey?
Are you a hero on a journey?
Would you like to call us? 1-800-962-9141
Would you like to hop on our calendar?
Do you have a big enough WHY?
Are your expenses less than your income?
Do you need to reduce your expenses?
Do you need to increase your income?
Have you heard Episode 19, The Four Rules of Budgeting?
Have you heard Episode 63, Black Friday Ninjas?
What (who) is your greatest asset?
How can you develop yourself?
Have you heard Episode 47, Invest in Yourself?
Have you heard Episode 69, New Goals and How to Succeed?
Are you able to perceive what a better self looks like?
What is your greatest challenge you’re facing?
What have you tried in the past?
What are going to do next?
By when?
What about pouring money into liquid assets?
Have you heard Episode 15, Unlocking Cash?
Have you heard Episode 48, …How Much Do I Need To Save?
Do you invest in things you understand and control?
Do you have way to much cash right now?
How much opportunity do you want in your life?
How might you get ahead?
How might you create multiple streams of passive income?
Have you heard Episode 76, 16 Streams of Passive Income?
Can you guide another person?
Will you teach your tribe?
What about transferring to the next generation?
Are you the only character in your story?
How many pages do you have left to go in your story?
Would you like to talk with Mark for 15 minutes?

Episode 115: When Should I Take My Social Security? with Brian Minier

November 15, 2019 by Not Your Average Financial Podcast

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**CORRECTION – in the episode we state that 85% of your benefit is taxed. To clarify, 85% of your Social Security can be exposed to taxation at whatever your tax rate is.
For example if your Social Security monthly benefit is $1000/mo, $850/mo of that would be exposed to your tax rate, (which might be 20% for example.)**

In this episode, we ask:

Do you have a 401(k)? Do you have an IRA? Do you have a Bank on Yourself type whole life insurance policy?
Who is Brian Minier?
What is customized Social Security planning?
Are you walking away from benefits?
Are you allowing your credits to accrue?
Are you eligible to take a spousal benefit?
Is Social Security secure?
What is the reality of the Social Security benefit system?
Have you read the Social Security statements?
What is the history of Social Security?
What was the life expectancy when Social Security started?
At what age did the Social Security pay?
What are the issues?
What is happening with the baby boomers?
What is the decline in worker to beneficiary ratio?
How many people are taking the benefits?
What can politicians do?
How long can you delay benefit?
What are reduced cost living adjustments?
What makes Social Security complex?
What are the 561 different calculations to consider?
Should you always take Social Security early?
Should you wait until age 70 to take benefits?
What are the factors to consider?
Are you married?
Are you receiving a pension?
What should the benefit be?
When should I take the benefit?
How do you qualify for Social Security?
How long do you need to work to collect Social Security?
How do you receive a spousal benefit?
How do you know if Social Security has calculated your statement accurately?
How do you know what you’re going to receive in benefits?
Where can you go to view your current benefits?
Can you view your future benefits, even if you’re young?
Have you visited ssa.gov?
Why is maximizing Social Security so important?
Why is looking at the big picture of a couple so important?
What factors influence the timing?
Have you been diagnosed with a terminal illness?
Are you married and did your spouse work?
Are you married and you have a child who is less than 18 years of age?
What is the most thing that most people never consider?
What about survivorship?
Who usually dies first?
How to plan for a surviving spouse?
What’s the best way to put Social Security to use?
How is Social Security taxed?
What is provisional income?
What types of income are not listed as provisional income?
What are some of the things you can do?
Can converting to a Roth IRA help?
How might using a life insurance vehicle help?
What are the taxes due on Social Security?
How might you lower your provisional income?
What happens if you make more than $44,000 joint income annually?
How much will the government tax your Social Security benefit?
What nuances would affect your benefit amount?
Why is distribution planning important?
Why should Social Security and retirement planning be a combined effort?
Do you know someone who understands the benefits of Social Security?
Where might you learn more?
Do you have a question on Social Security?
Are you age 62 or older?
Would you like to see what’s possible in your situation?

Brian Minier is a Certified Financial Fiduciary® with over 10 years of experience in the insurance and financial service industry. He has an MBA from Malone University and a Bachelor of Science in Marketing from the University of Akron. Brian is a Certified Bank on Yourself Advisor and assists his clients with many areas of retirement planning and investments.

He specializes in helping seniors plan for retirement and develop smart Social Security strategies, and also provides financial advice and guidance to help individuals weather both good and bad financial markets.

Brian’s particular expertise lies in customized Social Security planning, designing personalized retirement plans to help his clients achieve their individual retirement goals, and income and distribution planning – an area which Brian feels is too often neglected by most traditional advisors.

Brian lives in New Albany with his wife and two children, and is active in his church and community. In his spare time, he enjoys spending time with his family, participating in missions work, and working out.

You can reach Brian Minier at Keystone Financial, by calling 614-300-9501.

Episode 114: The 8 Rules for Bank on Yourself® with Jim Conrad

November 8, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Who is Jim Conrad?
Would you like a FREE copy of Pamela Yellen’s new book, Rescue Your Retirement?
Send us a screenshot of your new iTunes review to hello@nyafinancialpodcast.com, and we’ll send you a copy of the book!
What can you do with a dollar?
What are the 8 rules for Bank on Yourself® type Whole Life policy?
- 1. A Bank on Yourself® type Whole Life policy gets better every year, and there is nothing you can do about it.
- 2. There is no such thing as paying too much premium.
- 3. Pay as much premium as you can, for as long as you can.
- 4. Always use your own capital… did I say always?
- 5. Never save up money in somebody else’s bank.
- 6. Pay back your policy loans in a reasonable amount of time.
- 7. Favor paying premium over paying back loans quickly.
- 8. If you bank on yourself, you can forget about interest rates and rate of return.
Have you heard Episode 6?
Does something becoming more efficient every year violate the laws of physics?
Do you know anything else that gets better every year?
Is there such a thing as paying as paying too much premium?
Would you like to watch Jim’s Dollar Diagram video?
How many policies does Jim own?
How can you make major purchases over and over again?
Why would you want to put money into a risk investment?
Why is this so powerful?
What is the math on PUA premium growth from age 21?
Should you do this if you’re younger?
How is Jim living proof that it works?
How long can you keep paying premium?
Why is paying premium a privilege?
Why wouldn’t you want to keep putting money into that money machine?
Isn’t the look of a curve beautiful?
If you have a money machine in your living room, and you put one dollar in and four dollars come out, how many dollars would you put in the money machine?
Why should I borrow against my own policy if I can get a lower interest rate a credit union?
What is the flaw in this thinking?
Can you enrich yourself and the bankers?
How might you enrich yourself?
Why would you like to build up the wealth of others, when you can build your own wealth?
Are you in the habit of keeping tens of thousands in the closet?
Do you own a properly structured Bank on Yourself® type Whole Life policy?
Why would you want to enrich those who profit from fractional reserve banking?
How might you pay back your policy loans in a reasonable period of time?
What is a reasonable period of time?
How does one determine what is reasonable?
Why do people pay off loans quickly?
Can you afford to buy that thing?
Are you “stealing the peas”? (As Nelson Nash would say…)
Can you favor paying premium over paying back loans quickly?
How much of your available cash flow should be used for paying back loans?
How much of your available cash flow should be used for premium?
Should you put your dollar into PUAs or toward a policy loan?
Should you always favor paying premium?
What happens when you’re no longer earning active income?
Should you pay off your loans before retirement?
How have we been trained?
How can you think differently than the way the rest of the world thinks?
What? Jim? Did I hear you right?
Shouldn’t you get the lowest interest rate you can get?
Where will your death benefit go?
What is the rate of return on guaranteed growth over unknown growth?
What about interest rates?
Are higher interest rates great?
How does the volume of interest go down over the growth of the loan?
What about dividends?
What has to happen for Jim to throw a party?
Would you like to watch Jim’s Dollar Diagram video?
Would you like to talk with Jim? Email him at jim@conradfinancial.us
What did you take away from today’s episode?

Jim Conrad, the President of Conrad Financial Services, resides with his wife, Deb, in Concord, North Carolina. Jim started working for his clients in financial services 20 years ago, after a 25-year career in management with a Fortune Top 10 company. He grew up in the Chicago suburbs, and he hold a B.S. in chemical engineering from Purdue University and an MBA from Lewis University.

Jim has been a Bank On Yourself Authorized Advisor for the past 13 years. His passion is helping people achieve financial peace of mind by owning a strategy they can count on for life.

Episode 113: Nightmare Scenarios with Amanda Neely

November 1, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Do you ever spin out into the “WHAT IF…” conversations?
What happens to Bank on Yourself type policies when the world ends?
Is it the end of the world as we know it?
Would you like Pamela Yellen’s latest book, Rescue Your Retirement?
Would you like to write us a review on iTunes and email us a screen shot at hello@nyafinancialpodcast.com? If you do, we’ll send you Pamela Yellen’s newest book for FREE.
Schedule an Appointment with Us
How has Amanda Neely been a prepper?
What are the nightmare scenerios?
What happens in a zombie apocalypse?
Do you have water?
Do you have food?
What is more reasonable?
Are we living in a dreamworld economy?
What if Wall Street just crashed?
What if Wall Street dropped by 50% (like it has twice in the last decade)?
What happened in the great depression?
How did life insurance policy owners fare in the great depression?
What about stagflation?
Who had the liquid pools of cash?
Who received increases?
What about the market crashes of the 90s?
What about volatility?
What about the rings of a tree?
What about volume?
What about consistent, compounding of the dollar?
What about liquidity?
What if there was a run on the bank?
What if banks are closed?
How would you get money out of a policy if you can’t access a regular bank?
What about macro economic nightmares?
What about a decline in the dollar?
What happens to the value of a policy?
What happened in the last decline of the dollar?
How do things cycle?
What if the dollar gets replaced?
What did life insurance companies use before the U.S. dollar?
What is the legal tender where the contract is domicile?
What about a major bout of hyperinflation or deflation?
Why is inflation a problem?
What about massive lay offs?
What about changes in demographics?
Do you have flexibility with your premium?
What are the exit strategies?
Can you reduce your premium?
Can you stop the premium?
Is winter coming?
What about having fewer resources than your parents?
What about hyperinflation?
What happens to a policy in wild crazy inflation?
How does hyperinflation affect your income?
Who sets the federal interest rate?
What about paying the national debt with a higher interest rate?
What happens if the rates go high?
What about squatter’s rights?
What happens if contract law falls away?
What about the resources of a life insurance company?
What about gold? Would you like to view a historical gold chart?
What about social security and medicare?
How can you reach out to Amanda Neely?
Have you visited grandmaswealthwisdom.com?
Will the life insurance companies be the last domino to fall?

Episode 112: Six Spooky Goblins In Your Money

October 25, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like a copy of Pamela Yellen’s latest book?
Schedule a Meeting with us!
What special announcement does Holly have to share?
Would you like more treats and less tricks?
What is the first goblin?
What does $135K in retirement accounts lead to in income?
Can you live on $600 a month?
What is leaving your wallet?
What is your volume of saving?
How is rate of return different from volume of saving?
What if you saved 10%? What if you save 30%?
Have you heard Episode 106?
Have you heard Episode 48?
What is goblin number two?
What are the out of pocket medical costs?
Will you have health care costs coming up in retirement?
Do you have half a million dollars ready for medical expenses?
Are you between 45 and 65 years old?
How much do you have set aside for healthcare in retirement?
Who has 1.4 million saved for retirement?
For retirement, do you have an income bucket?
For retirement, do you have a healthcare bucket?
What is goblin number three?
How much will you owe the I.R.S.?
How much is THEIRS?
Do you owe taxes on tax-postponed (a.k.a. tax-deferred) accounts?
How much do imagine you will be able to take in income on these accounts?
Are you confident in your pre-tax income?
Does anyone know what your tax bracket will be in the future?
Has congress got around to voting on how much they will charge in taxes when you’re in retirement?
What is goblin number four?
What about Social Security benefits?
Will Social Security be part of your income?
Is your purchasing power shriveling up?
Do you depend on Social Security?
What is goblin number five?
What about equity mutual funds?
Who beats inflation?
Does the stock market do an average double-digit return?
Who knows what’s happening in the market?
Who’s beating inflation?
What’s happening now?
Who is behind the market?
How do reactionary impulses affect the market?
What about goblin number six?
Do you have a 50/50 chance of running out of money in retirement?
Do you follow the 4% withdrawal rule in retirement?
What does this mean?
How does this impact our financial lives?
What can we actually take away with this?
How might we fight back against our fears?
Will you prioritize your own capital?
When will you start saving?
Did you go trick or treat in packs or groups?
When did you last review your account fees?
Do you believe you know all of the fees?
What are your 401(k) fees?
Have you looked at the FINRA fund analyzer?
Would a single visit to the doctor ruin your financial life?
Would you like to call us at 1-800-962-9141?
Do you have a flashlight?
What kind of contracts can help you get through the end of the corn maze of life?

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