Not Your Average Financial Podcast™

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

Episode 392: Dave Ramsey is Not Your Doctor – The Poison Pill of Buy Term and Invest the Rest

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In this episode, we ask:

  • How’s that working out for you?
  • Who is A.L. Williams?
  • Would you better off investing with some term on the side?
  • Would you better off with a Bank on Yourself® type whole life insurance policy?
  • What about a twin study?
  • What happens after 29 years?
  • What are the takeaways?
  • Would you like to meet with Mark or one of Mark’s associates?

Episode 391: Bank On Yourself® In Action: Real Life Business Case Studies

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In this episode, we ask:

  • Would you like to listen to Episode 388?
  • What are the challenges faced by most entrepreneurs?
  • How is this playing itself out in the real world?
  • How about guarantees?
  • How about liquidity?
  • How about more success?
  • What challenges would this solve?
  • How can business owners level up their cash flow?
  • What do Bank on Yourself® type whole life insurance policy offer business owners?
  • What about lines of credit?
  • Are the banker’s trophy catch?
  • What about paying the interest?
  • What about times of business downturns?
  • What are the limits of lines of credit?
  • What about collateralization?
  • What about interest rates?
  • What about compliance?
  • How about a case study?
  • Is it worth the risk?
  • What is the insurance company contractually obligated to do?
  • What is the top ten list?
  • How about a guaranteed interest rate?
  • What about credit checks?
  • What about your credit score?
  • What about repayment terms?
  • What about loans being called?
  • What about tax-free access to funds?
  • What about the dual benefit of insurance and savings?
  • What about protection against market volatility?
  • What about compounding interest working in your favor (not the bank’s)?
  • What about estate preservation?
  • How might having a guaranteed line of credit help you and your business?
  • How about another case study?
  • What about inventory financing?
  • What about the fourth quarter and the Q4 rush?
  • What about another business case study?
  • What’s the catch?
  • What are the considerations?
  • What about paying off the loan?
  • What other major expenses are in your business?
  • How about this case study?
  • What about paying the tax payment from a policy loan?
  • What about paying off policy loans with windfalls?
  • What is thrilling?
  • How much?!
  • What are the takeaways?
  • Would you like to meet with Mark or one of Mark’s associates?

Episode 390: [Client Spotlight] From Island Paradise to Master of Banking with Harry Looknanan Jr.

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In this episode, we ask:

  • What would life be like when you’ve reached financial freedom?
  • Who is Harry Looknanan Jr.?
  • Who knows how to manage in crisis?
  • What happened in 2007?
  • How did Harry meet Mark?
  • What about peace of mind?
  • What has Harry been able to do since having a Bank on Yourself® financial strategy?
  • What about the contingency fund?
  • What about penalties and tax on rolling out of a qualified plan before age 59 1/2?
  • Who loses money when the market drops?
  • What happens to compounding in that case?
  • What’s important to you?
  • What components did Harry know he needed in his financial strategy?
  • What’s the beautiful thing?
  • How about increasing the yield without taking unnecessary market risk?
  • What do I need to do differently?
  • What 5 simple things do you want to accomplish in your financial life?
  • What is there to lose?
  • What is there to gain?
  • Are you a business owner? Would you like to reach out to Harry on LinkedIn?
  • What are the takeaways?
  • What are the contingency plans?
  • What do you achieve?
  • What do you focus on?
  • Who do you inspire?

Harry Looknanan Jr. works in commercial banking at the country’s largest financial institutions.  He enjoys the conversations with the owners of companies, listening to their story of starting in the garage and helping them solve their biggest problems. When he’s not banking, he enjoys spending time with my wife and Bentley (Dodson-Australian Shepard) indoors in the summer, and outdoors in the winter. He also scuba dives and binge-watches Sci-Fi movies in his free time.

Episode 389: Why Your Spouse Absolutely Needs To Be Here

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In this episode, we ask:

  • What’s the history?
  • What’s the opportunity?
  • What am I talking about?
  • What are the implications of your financial plan when you try to go it alone?
  • What about economies of scale?
  • What about the tax advantages of joint filing?
  • What are the other benefits?
  • What about net worth?
  • What did the Federal Reserve survey of consumer finances say?
  • What happens in divorce?
  • What patterns has Mark observed?
  • How about a case study?
  • What is the best gift?
  • What does the relationship help you become?
  • What offers guaranteed growth and protection?
  • What about funding life’s milestones?
  • What about legacy building for future generations?
  • What about tax advantages?
  • Who wants to send a valentine to the I.R.S.?
  • What about dreams and goals?
  • What about gifts?
  • What does everyone want this year?

Episode 388: Bank on Yourself® for Business Owners, An Introduction

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In this episode, we ask:

  • Would you like to learn more about capital for running a business?
  • How does the Bank on Yourself® concept advantage business owners?
  • What happens when entrepreneurs blow through their savings and money?
  • What’s the funny thing about other people’s money?
  • How many businesses have borrowed?
  • How much debt do businesses hold?
  • Why do most businesses fail?
  • Why are banks hitting record profit?
  • What is the takeaway message here?
  • What if you could take on the function of banking without taking on all of these hurdles?
  • What is the biggest lever you could pull?
  • What do many business owners need in today’s climate?
  • What about term insurance?
  • What about dividend paying whole life insurance?
  • What can be seen as a business asset on your balance sheet?
  • What would you do if you had access to $500,000, liquid?
  • What are you solving for?
  • What about the exit plan?
  • What about the loan feature?
  • What will continue to earn compound growth?
  • What could this do for you in your business?
  • Who sets the terms on the loan?
  • What about the tax advantages?
  • Who taught you to believe that?
  • What’s the biggest catch?
  • What are the problems?
  • Why is it crucial to work with a Bank on Yourself® professional?
  • What are the questions to pursue?
  • What would be your first steps?
  • Would you like to meet with Mark or one of Mark’s associates?

Episode 387: Become a Financial Tree that Brings Wealth for Generations with Evan Greathouse

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In this episode, we ask:

  • Have you had a near death experience?
  • What about the beauty and complexity of Mother Nature?
  • Who is Evan Greathouse?
  • What was Evan’s “aha” moment like?
  • What happens while Evan was completing yard work?
  • What drew Evan to becoming a Bank on Yourself® Professional?
  • How has Evan been able to do so much with his policy loan?
  • What are the applications?
  • Would you like to hear Episode 143?
  • What is the enhanced 401(k) catch up?
  • What is the big news for Secure Act 2.0?
  • …What is the maximum?
  • What is unbelievably flexible?
  • What happens with a reduced paid up option?
  • What about efficiency?
  • What about high cash value?
  • How about the paid up additions rider?
  • What is not an investment strategy?
  • Why is there such a bias against whole life insurance?
  • Who has your best interest at heart?
  • Who knows how it works?
  • What about throwing your eggs into one basket?
  • Is diversification really important?
  • Where can you keep your cash?
  • Is there a safer place to keep your cash?
  • What grows without interruption?
  • What is another way to insure against loss?
  • What is the insurance company obligated to do?
  • What do clients use the Bank on Yourself® type whole life insurance policy loans for?
  • What’s a game changer?
  • Who are you becoming?
  • Would you like to meet with Evan?
  • What are the takeaways?
  • What are the financial myths?
  • Who benefits from your belief about how money really works?
  • How can you be more dynamic in your financial life?
  • What about personal growth and finding purpose?
  • Who will you become?
  • What did Marcus Aurelius say?
  • What sort of legacy will you leave behind?

Evan Greathouse, Bank On Yourself® Professional, brings over 12 years of expertise as a seasoned Real Estate Investor. Holding a Business Management degree from Abilene Christian University, Evan is deeply passionate about his work. His extensive skill set encompasses construction, renovation, sales, marketing, and team building. Evan’s philosophy embraces the mantra of doing things wholeheartedly, driven by a belief that a strong ‘why’ can conquer any ‘how.’ He advocates for embracing failure as a stepping stone to success and cherishes his role as a devoted husband and father to three wonderful children. Meet with Evan

Episode 386: [Client Spotlight] Navigating Life’s Twists: Steven Lyon’s Wealth-Building Journey

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In this episode, we ask:

  • Is life like a road trip?
  • Who is Steven Lyons?
  • How did Steven and his wife meet?
  • What did Steven learn from his dad’s entrepreneurship?
  • What was the fork in the road?
  • What is Steven’s work?
  • What about pattern recognition?
  • What’s Steven’s learning journey with money?
  • What happened next?
  • What’s the difference between being covered vs. being secure?
  • What didn’t make much sense?
  • What about being discouraged from taking loans on a life insurance policy?
  • What is possible?
  • How are Bank on Yourself® type whole life insurance policies different?
  • What was the disincentive on that plan?
  • How could an annuity systematically pay for life insurance premium?
  • Is this too good to be true?
  • What about the vocabulary of insurance?
  • What opportunities can Steven chase now, without losing his position?
  • What are direct recognition loans?
  • How do direct recognition loans affect compound growth?
  • What has happened?
  • How easy was it to take a policy loan?
  • What is Steven doing with Authentic Texas Magazine?
  • What are the three types of buildings you will find in many small West Texas towns?
  • What about starting from an early age?
  • What about teaching the kids?
  • Where can you find Authentic Texas magazines?
  • What are the takeaways?
  • What about serendipity?
  • What about learning from financial missteps?
  • What about trusting in pattern recognition and trusting your gut?

Steven Lyons is the owner and creative director of Adaptable Space, a marketing design consultancy based in Nashville, Tennessee focusing on engineering business design solutions. Steven has twenty-eight years of agency and in-house creative experience building comprehensive brand communications working with Fortune 500 companies to non-profits. As the creative lead for Authentic Texas Magazine, he’s been an integral part of the redesign and continued development of the magazine since 2019, as well as the design director for the Official Texas Rangers Bicentennial Guide in 2023. Steven holds a bachelor’s degree in advertising and graphic design from Abilene Christian University.

Episode 385: How Does Dave Ramsey Not Get Sued for this?

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In this episode, we ask:

  • How compliant was Mark toward Dave Ramsey’s rules?
  • Have you heard Episode 323?
  • What about Pamela Yellen’s BankonYourself.com website update?
  • What advice did Dave give Thomas?
  • Why do so many viewers confuse Dave Ramsey for a financial advisor?
  • Did Dave do a thorough needs analysis on Thomas’s situation?
  • Is Dave’s claim that whole life insurance costs 20 times the cost of term life insurance true?
  • What does the math say?

  • What is Dave’s hatred of whole life insurance about?
  • Is cash value accessible in the first month of a whole life insurance policy?
  • Is it possible that Dave Ramsey could be wrong about something?
  • Would you like to listen to Episode 6, Episode 36, Episode 73, Episode 110 and Episode 143?
  • Why does Dave talk about an “average rate of return” on life insurance?
  • Why does he call life insurance an investment?
  • Is life insurance an investment?
  • What happens to financial advisors who call life insurance an investment?
  • What about the case study?
  • What about the money market accounts?
  • What about Dave’s term insurance ads on his show?
  • Is it reasonable to expect 12% returns on mutual funds?
  • What are the real returns before taxes are considered?
  • What about uninterrupted compounding?
  • Who invented the phrase “buy term and invest the rest”?
  • Is it true that insurers confiscate the cash value when you die?
  • Is that how equity contracts work?
  • How about an example?

 

Episode 384: Leverage Your Life Insurance Policy with Sarry Ibrahim

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In this episode, we ask:

  • Have you faced threats?
  • How might you bring greater benefit to you and your family?
  • Have you heard Sarry Ibrahim’s podcast, Thinking Like a Bank, Episode 123?
  • What did Sarry’s client ask?
  • What is the story with A.L. Williams?
  • Has that worked? Would it work now?
  • What about the whole life policy spreadsheet?
  • What are some options / hyptothetical scenarios?
  • What if there was $36,000 dollars to allocate each year for 30 years? ($3K/month)
  • What about investing $34,383 at a hypothetical 8% return, with a 1% compounding fee ever year for 30 years? What about purchasing a term policy with $1,616 for $600K death benefit for the 30 years?
  • How about purchasing a whole life insurance policy only? What happens at year 30?
  • What about purchasing a whole life insurance policy, taking a policy loan against the policy, investing the money and paying off the policy loan with the growth (hopefully) from the investment?
  • What is possible, considering volatility?
  • What are the better ways to do this?
  • What if it is just a death benefit?
  • What about investing the difference?
  • Why would whole life insurance be a better fit?
  • What are the takeaways?

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

Sarry Ibrahim, CFP®, EA, MBA, is located in Chicagoland and works with clients across the United States. As the founder of Financial Asset Protection, Sarry helps clients safely accumulate wealth without sacrificing liquidity.

When Sarry is not working with clients, he hosts episodes on the Thinking Like a Bank Podcast, and he enjoys spending time with his wife and son.

Connect with Sarry (rhymes with Larry) at
https://thinkinglikeabank.com/
https://www.youtube.com/@sarryibrahim4241
https://www.linkedin.com/in/sarry-ibrahim-mba-ltcp-bank-on-you

Episode 383: The 9 Steps to Secure Your Family’s Future

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In this episode, we ask:

  • Are you ready?
  • What are the risks you take, just to live your life?
  • What am I interested in now?
  • How do you reach your financial milestones without taking unnecessary risks?
  • What happens when risk goes up?
  • What about outcomes?
  • Who is determined to fail?
  • What about speculating?
  • Who is Tim Austin?
  • What are the 9 steps?
    • Where are you today?
    • Did you know you can reach your financial milestones?
    • Will you take an inventory of what’s working and what’s not working?
    • Are you ready to review the inventory? What are some proposed solutions?
    • Can you forgive yourself for all past and future financial missteps?
    • What will you decide?
    • What solutions will you implement?
    • What needs review and what adjustments are needed?
    • Who else needs help?
  • How about listening?
  • What’s working? What’s not working?
  • What are the biggest aha moments?
  • What might happen if….?
  • Do you believe you have a bigger future within you?
  • What is the After Action Review?
  • What’s helping? What’s hurting?
  • How might a third-party perspective bring value?
  • What’s possible?
  • What about self-doubt and self-forgiveness?
  • What about implementation?
  • Who are we grateful for?
  • What about solutions and ongoing adjustments?
  • Is there such a thing as a permanent financial plan?
  • What if you lose your job?
  • What if you move across the country?
  • Humbly, what adjustments are needed?
  • Who do you know who you want to feel the same way?
  • What’s it like to send a simple email introduction?
  • What did William Arthur Ward say?
  • Would you like to meet with Mark?