Not Your Average Financial Podcast

Episode 355: The Ultimate 401(k) Upgrade – Tax-Free Income and Market Protection

June 21, 2024 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | Android | RSS

In this episode, we ask:

What is finite?
How do we solve that problem?
What can be converted into a lifetime stream of income?
Is there a stream of income that you cannot outlive?
Would you like to hear Episode 354?
How can you get through your retirement without coughing up a third of your income into taxes and fees?
What about the allegory of the cave?
What about the fear of change?
Who has a 401(k)?
Did you know…?
What could take about half of your life savings away?
Are you one of the lucky ones?
Would you like to hear Episode 79?
How much would one have after taxes and fees?
How much could one take per month?
What about another way?
What if one could spread it out slowly?
What happens in systematic withdrawal?
What are some possibilities?
Who would like to preserve the wealth?
How about an example?
What about annuities?
What about fun?
What would you rather have?
Would you like to meet with Mark?

Episode 354: Bank on Yourself® Plus Strategy – From Guaranteed Growth to Guaranteed Lifetime Income (Part 1)

June 14, 2024 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | Android | RSS

In this episode, we ask:

What are you looking for?
What are the reasons for setting up a policy?
What are the downsides?
What do we need to keep in mind?
What about a finite amount of money?
What about accumulating?
What about taking money in retirement?
What about outliving your money?
What about dying too soon?
What about triggering an estate tax issue?
What is the current federal estate tax trigger?
What can change?
Who will trigger this?
What about state estate tax exemption?
Will Bank on Yourself® policy holders trigger these estate taxes with the death benefit?
What about creating an estate?
What is standing there as a shield?
What can serve as an estate liquidator?
How about a case study?
What about unpleasant surprises?
What happens if you enjoy retirement?
How does this solve the estate tax issue?
What about the problem of out living your money?
What accounts carry this risk?
How much have you built up?
How much can you pull each year without running out?
What do you avoid?
What about market volatility and sequence of returns risk?
What about fees?
What about taxes?
How are you going to make this money last?
What is the hardest question of all in finance?
What happens with a portfolio of policies?
Would you like to hear Episode 252?
What about the 1035 exchange?
How is this like a 1031 exchange in real estate?
What is the plus strategy?
Can you roll a life insurance policy’s cash value into an annuity?
What is the advantage of an annuity?
Will you get paid a lifetime income?
How about an example?
What about a 401(k)?
What did Wade Pfau, David Blanchett and others say?
How much would you rather have?
What would you prefer?
How much would you prefer?
What are the downsides?
What is there to consider?
Are annuities liquid?
Are Bank on Yourself® type whole life insurance policies liquid?
Can you Bank on Yourself® with an annuity?
Do annuities have tax-advantages?
Is it purely tax free?
What happens with a portfolio of policies?
What can you transform?
How much do you want guaranteed?
What can be used for medical expenses?
What about leaving a lump sum to a surviving spouse?
Can one take a partial 1035 exchange?
Who needs to know about this?

Episode 353: When My Parents Died, Here’s What Happened Next

June 7, 2024 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | Android | RSS

In this episode, we ask:

What did Mark learn from his parents?
What was a great gift?
What happened in high school?
What did Mark receive after college?
What happened with Dave Ramsey?
How many jobs did we work?
What did Mark’s mom do?
What about health ratings?
Would you like hear Episode 43?
Would you like hear Episode 322?
What did they discuss?
What happened?
How did Mark’s mom leverage her policy’s cash value?
What about the Roth IRA?
What happened next?
What happens with a health rating?
What about Mark’s dad?
Would you like to hear Episode 302?
What about the Upton Sinclair paradox?
What was Dad’s philosophy for money?
What did he believe about home values?
What did Mark’s mom do through the cancer diagnosis?
What are the limits on a Roth IRA?
What happened in January 2017?
What about estate planning?
Are your documents in place now?
Are your parent’s documents in place now?
Do you have a will?
Do you have a medical power of attorney?
Do you have a financial power of attorney?
What avoids probate?
What does not avoid probate?
Are life insurance proceeds private?
Do you owe them or not?
How might you avoid heartache?
What goes directly to the beneficiaries?
How much did she pay in as premium?
How much did the benefits pay?
What was the return?
What was the tax?
What were the fees?
Where did Mark and his brother put the money?
What would Mark prefer?
What makes Mark smile?
What happened with Mark’s dad?
What happened at the end?
Do people actually invest the rest?
What happens with term insurance?
What was worthless to him?
Is your will updated?
What are the issues with term insurance?
What about love?
What has Mark learned through losing both parents at a young age?
How about a tale of two parents?
What are the big takeaways?
What is messy?
How might you leave the best last gift?
What about letting policies expire?
Where would you like to be buried?
What songs would you like to be played at your funeral?
Would you like to hear Episode 149?
Does this story resonate?
Do you have a similar story or experience?
How might you leave the best last gift?

Episode 352: Right-Sizing Bank on Yourself®, A Real Estate Power Couple’s Story with Lindsay and Ryan Rice

May 31, 2024 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | Android | RSS

In this episode, we ask:

Have you ever wondered what it takes?
What are the struggles?
Would you like to hear more from Lindsay and Ryan Rice of Rice Properties Group?
How did they get started?
How did they nurture and generate a referral-based business?
What about relational business?
What about transactional business?
How about serving people?
How do they manage?
How do they work together and set goals?
What about life insurance?
What about Bank on Yourself® type whole life insurance policies surprised Lindsay and Ryan?
How have they leveraged their policies?
What about taxes?
What about retirement?
What about cash flow?
What’s the difference between a challenge and a burden?
What happened in 2021?
How about variable income?
What about reinstating a policy?
What happens once your policy is filled?
How does one determine the right size for a policy?
Would you like to meet with Mark?
Would you like to hear Episode 203?
How about some words of wisdom?
How is this like working out?
Would you like to search for Rice Properties Group?
What are the takeaways?
What are the action items?
How about the power of uninterrupted compound growth?
How about resilience in challenging times?
Is your current plan the right size?

Lindsay and Ryan Rice are the entrepreneurial spirits behind Rice Properties Group, a real estate powerhouse built on the foundation of love, partnership, and a steadfast commitment to financial mastery. Their journey began as colleagues, where they not only excelled in sales but also found love, becoming the company’s first couple to transition from quiet dating to marriage. Their shared experiences at the startup, which has since become a multi-billion-dollar enterprise, laid the groundwork for their future endeavors in real estate.

Episode 351: The Unseen Dark Forces in Your Retirement Plan

May 24, 2024 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | Android | RSS

In this episode, we ask:

What about the hidden things in your financial life?
Would you like to hear Episode 343?
What is the hidden dimension to our financial portfolios?
What is financial dark matter?
What is price?
What are the fees?
What is obscure?
What erodes wealth?
What is small, invisible but constant?
What are the consequences?
What about the illusion of progress?
What might send ripples through your financial plan?
What did JAMA say about wealth shocks?
What is the opportunity cost?
Are we doomed to the dark matter?
Why are we huge fans of the Bank on Yourself® strategy?
What is the aha! moment that changes everything?
What about peace of mind?
Do you know your money is going to do a certain thing?
What about owning the number?
Do you have a contract with your future?
How is this different from a 401(k) or a IRA?
Who is phased out of the Roth IRAs?
How much are you allowed to put in?
Can you have a financially secure future on the ROTH?
Is it liquid?
How can you access to the money?
What about penalties?
Who is tapping retirement accounts?
What did a recent Vanguard study say?
What retirement savings do Gen X members have?
What about living from paycheck to paycheck?
What about living on credit cards?
What about borrowing from a 401(k)?
What about credit reporting?
Would you like to listen to Episode 206?
What is one of the only ways you can be taxed twice on the same dollar?
What about being on a forced repayment plan?
Where does the money come from?
What about an after action review (AAR)?
What was the plan?
What went right?
What went wrong?
How might we do better next time?
What about an example?
What is the key takeaway?
What about constant refinement along the way?
What would it look like if it were easy?
What would money look like if it were easy?
What characteristics or attributes would it have?
How would you change?
What would you do about it?
What is the first step?
How do you feel?
What do you want more?
What did Lawrence Peter say?
Would you like to meet with Mark?

Episode 350: The Art of Leveraging Insurance for Real Estate Success with Jay Helms

May 17, 2024 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | Android | RSS

In this episode, we ask:

Can you imagine?
Would you like to hear another story from Jay Helms?
Would you like to hear Episode 243?
How did Jay break free from the rat race?
How did Jay leverage his Bank on Yourself® type whole life insurance policy’s cash value for real estate?
What was the annualized return?
What were the results?
What was the deal?
What was the loan amount?
What was the interest rate?
What happened six months later?
What’s a “me-loc” ?
What are the advantages?
What was the policy’s growth?
What is positive arbitrage?
Where else can you do this?
What about the risk?
What about first lien position as a safeguard?
What about coming out of the W-2 and going into the real estate world?
What did he say?
What did he not say?
What about liquid access to that money?
What about Jay’s mastermind group?
What about growth friends?
Would you like to join or login to the FREE Not Your Average Financial Community to access and participate in office hours?
How about a thought exercise?
Would you like to download this FREE two column sheet with growth friends | maintenance relationships along the top?
What are 20 of the most recent, important connections from your device (text, zoom, phone)?
What is the crab bucket?
What happens when you take action?
Would you like to meet with Mark?
Would you like to meet with Jay?
When is the best time to plant a tree?
What does Jay say about starting a policy?
What are the takeaways?
How might you leverage your life insurance?
What could be a powerful cash management tool?
What about positive arbitrage?
What are you waiting for?
What about calculated risks?
What about the importance of real relationships?
How will you think differently about your money, your economy and your future?

Thought Exercise: Growth Friends and Maintenance Relationships (PDF)

Jay Helms, Founder of the W2 Capitalist, escaped the rat race after 6 years of side hustling in real estate investing. Jay has a goal to help one million people create multiple streams of income, achieve financial freedom, or build legacy wealth through real estate investing. Jay met his wife Cassie when they were contestants on a reality TV show and when their family of 5 are not traveling the country in their RV, Jay and Cassie reside in Gulf Breeze, FL, with their three kids, Rowland, Stella, and Ellen Anne. Knowing that closing on the first deal is the biggest hurdle and roadblock for new investors, he wrote a book, Make An Offer: Break Through Analysis Paralysis & Grab the Confidence You Need to Become a Real Estate Investor, to help them get over those mental hurdles.

Episode 349: The Heirs or The IRS?

May 10, 2024 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | Android | RSS

In this episode, we ask:

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

Episode 348: What Your Other Advisor Will Say

May 3, 2024 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | Android | RSS

In this episode, we ask:

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