Banking

Episode 267: The Federal Reserve vs. Your Fractal Reserve (Part 2)

October 14, 2022 by Not Your Average Financial Podcast

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In this episode, we ask:

Are dashboard lights flashing red on the economy?
What makes the economy go up and down in the first place?
What about money?
What about saving?
What happens when the banks have more funds to lend?
What about the changes in interest rates?
What about long term decisions?
What happens when things go terribly wrong?
What is artificial?
What about overspending?
What about sustainability?
What about manipulating interest rates?
Which scenario are we living in now?
Who is spending on junk?
What did Ludwig von Mises say?
Have we become drunk with low interest rates?
What about an artificial boom?
What about pushing a beach ball down under water?
Who is the villain?
How does one discover true freedom from the banking system?
How is banking core to the human experience?
What about fractal banking?
How fast do banks loan out your deposits?
What did the Fed worry about in 2020?
Is there hope?
Would you like to meet with Mark?

Episode 266: The Federal Reserve vs. Your Fractal Reserve

October 7, 2022 by Not Your Average Financial Podcast

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In this episode, we ask:

What is the average retirement age for many Americans now?
Are people retiring later?
What is the average income and average net worth of these Americans?
How much?
What or who is the wizard behind the curtain?

Thanks to Tom Woods and the many historians and economists I cite in this episode!

What was the original job of the Federal Reserve?
What does flexible mean in the context of currency and the Federal Reserve?
What are shadow economics?
What happened in December of 1913?
What has happened with inflation?
How was the Fed originally created?
Would you like to hear Episode 56?
Are we now in a better place?
What did Christina Romer discover?
What about the frequency, length and duration of recessions?
What about price stability?
What about deflation?
What about output volatility?
What did Richard Timberlake say about monetary history?
What happened in the 19th century?
What about the gold standard?
What about the bank panic of 1819?
What was Thomas Jefferson’s plan?
What about the panic of 1873?
What about the gilded age?
How was life different for people born in 1860 vs. 1890?
How did prices drop?
How did America transform?
When was the gold standard restored?
What was unit banking?
How did the farming calendar affect the bank?
What about artificial fragility?
How was Canada different?
Could the U.S. have avoided bank panics?
What did Milton Friedman say?
Was the Fed successful at stopping bank panics?
What about deposit insurance in 1934?
…How many banking panics?!
Was the Fed not prepared to handle it?
What is the Cantillon effect?
How does money creation affect people differently?
Where are the top 5 wealthiest counties in the U.S.?
What about moral hazard?
Should prices fall?
What about goods and services?
What do banks create?
What about fractional reserve notes?
What about savers?
What about losing out due to inflation?
What about investments?
What about holding on to your cash?
What about maintaining your purchasing power?
Is this working?
How do we escape the boiling pot?
How might you take steps to increase your own money supply?

Episode 259: The Top Ten Keys to Becoming Your Own Banker with Marty Smith

August 19, 2022 by Not Your Average Financial Podcast

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In this episode, we ask:

What is the most important business in the world?
Who is in the banking business?
Who is Marty Smith?
What about a Marty Smith trilogy?
Where has Marty and his wife been living for 46 years?
How long has Security Mutual of New York been in business?
What are the flagship products for Security Mutual Life Insurance Company (SML)?
What about Nelson Nash?
What about the death benefit?
What about building cash value?
What is a wonderful combination?
What is the biggest hurdle?
What about education?
How many days since the last paradigm shift?
What is the infinite banking concept?
What about the book, Becoming Your Own Banker by Nelson Nash?
Who was Nelson Nash?
What about Austrian Economics?
What about forestry?
How far into the future do you think?
What about real estate investing?
What about being a pilot?
How does money actually work?
How do you think?

What are the top ten keys?

1. What is the most important business in the world?

Banking

2. What is banking?

Where some one or organization controls a pool of money

3. What about the one pool of money?

It applies to everyone

4. What about the reality of financing everything you buy?

You either pay interest to someone
Or you give up interest you could have earned by paying cash

5. What about the alternate use of money?

Opportunity Cost

6. What is the real problem?

Paying roughly a third of income on interest, fees and charges

7. What about the need for finance?

Probably greater than the need for life insurance protection

8. What about better control over principal and interest for big ticket items?

Cars you own,
major appliances,
education,
housing,
down payment on a house,
investment opportunities,
business equipment and inventory

9. What about creating a system of finance?

Using dividend paying cash value whole life insurance
(NOT Universal Life (UL), NOT Variable Life (VL), NOT Indexed Universal Life (IUL))

10. What about a major paradigm shift? Do you understand how money works?

It requires a major paradigm shift
A personal wealth building strategy

What about the book Debt: The First 5000 Years by David Graeber?
Who do you want to be in control?
Would you like to hear a story?
Is banking a problem?
What is the solution to the problem?
What would change?
What about increased freedom and joy?
What about being financially independent?
What about a personal wealth building strategy that actually works?

Marty Smith is the Regional Vice President of Security Mutual Life Insurance Company of New York. He loves 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 258: Don’t Do What Banks Tell You To Do… with Kristin Colca

August 12, 2022 by Not Your Average Financial Podcast

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In this episode, we ask:

What about a life changing moment?
What do banks do with money?
Who is Kristin Colca?
What happened to Kristin?
What does Kristin do?
What happened when Kristin met Teresa Kuhn?
What happened when Kristin graduated with her finance degree?
Would you like to hear Episode 56?
What about a savings mentality?
What about a reliance on safety?
What about taking on debt?
What about fast-forwarding to today?
What happens in an emergency?
What about liquidity, safety and guarantees?
What about risk, being beholden to finance companies and no emergency reserves?
What were the CD rates in the early 1980s?
Why should people keep their money liquid?
What about the ebbs and flows in the economy?
What about the market?
What about interest rates?
Why is it important to have liquidity?
What about taking advantage of opportunities when they come up?
How do banks work?
What do people not seem to realize about the banks?
What about an example?
What about real estate?
What about hard money lending?
What about peer-to-peer lending?
What are the steps?
What about capitalizing a policy?
What about borrowing against the cash value in a policy?
What about lending to another person?
What about determining the terms?
What about paying back the policy loan?
What about inflation?
What are the protective elements of a Bank on Yourself® type whole life insurance policy in an inflationary environment?
What about bond yields?
What about the price or premiums staying level, even an inflationary environment?
What is the good news?
Where are the buckets of cash?
What about the financial gurus?
What’s important about saving?
What’s important about the sequence of returns?
What about taking on risk?
What about guaranteed liquid cash?
How might you attract opportunities to you?
What about choosing the right financial tools?
What are the hidden pitfalls?
How do people make good decisions?
What are the rules?
What are the values?
What is the amount of risk?
What is the amount of money I’m willing to lose?
What is the rate of return that would justify this risk?
What about chasing the fairy tale dream?
What about leaving a legacy?
Would you like to reach out to Kristin?
Would you like to visit learnmorewithkristin.com?
If interest rates continue to rise, what will happen to policies?
What about riskier investments?
What do banks do with their own money?
Would you like to join our FREE membership site?
Would you like to join us at the Not Your Average Financial Summit? Come back next week for more details.

Kristin Colca, after starting her career in the banking industry, noticed that conventional financial wisdom was not working for many of her clients. A low-interest rate environment combined with Wall Street volatility and a growing pile of debt made it almost impossible to plan or create a secure plan for retirement. Further complicating these issues are the financial “experts” and “advisors” that are too quick to recommend one-size-fits-all solutions without fully understanding their client’s goals or dreams. Kristin’s mission is to create custom-tailored financial strategies for her clients that empower them to achieve financial freedom. Connect with Kristin Colca at learnmorewithkristin.com.

Episode 254: Solving the Unsolvable Financial Problems with Steven Step

July 15, 2022 by Not Your Average Financial Podcast

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In this episode, we ask:

How do you solve an unsolvable problem?
Can you solve a Rubik’s cube?
What about complexity?
Who is Steven Step?
What’s Steven’s story with Bank on Yourself®?
What happens every year on the policy statement?
What is always increasing?
What is the best way of creating a safe, tax-free retirement income?
Are there many safe, tax-free instruments available?
What about paying taxes?
What about social security?
What about the adjusted gross income?
How much is exposed to taxation?
What about financing bigger items?
How many policies does Steven own?
How many cars has Steven purchased?
What about medical emergencies?
What about an example?
What about feeling great?
What about ease?
What about a 401(k)?
What about Bank on Yourself®?
What about a traditional pension?
What about surprisingly high fees?
What about the market?
What about dollar cost averaging?
What are they not thinking about?
When will the market crash?
Does all the money saved in a 401(k) belong to the 401(k)’s account holder?
What about the IRA?
How long are you going to live?
What about the layers of complexity?
…How much in retirement assets?
What is possible?
Do you have to start taking required minimum distributions?
What about the tax payments?
What about the specific situation?
What about the The Baby Boomer Dilemma movie?
What’s Steven’s story with a client who held a 401(k)?
What happened in 2008?
What will the sequence of returns look like?
What is Steven’s hope?
Where will you be when you’re at age 82?
Would you like to connect with Steven? Call 800-245-4677 or reach out at connectwithstevenstep.com
Would you like to reach out to Steven and get access to view The Baby Boomer Dilemma?
Aren’t you thankful for Steven?
Would you like to review this podcast? Send us a screenshot of your review to hello@nyafinancialpodcast.com!

Steven Step is the President of A Step Ahead Financial, Inc. He is the co-author of The Secret to Lifetime Security. Steven has a Masters in Business Administration from USC. He has thirty years of experience helping hundreds of families build wealth, save taxes and retire comfortably.

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 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 205: Bank on Yourself® Type Whole Life Insurance Policy Loans vs. Everything Else, Round One

August 6, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

Have you subscribed to this podcast yet?
What did Patrick Henry say?
Does where you keep money matter?
Does where you keep your debt matter?
What happens when you are in debt?
How many Americans carry credit card debt?
What about all other types of debt?
What did the Federal Reserve study say?
What is the relationship between debt and income?
What about two years of indentured servitude?
How does that make you feel?
What about being debt free?
What about suffering?
What about depression and anger?
What did Dr. John Gathergood of the University of Nottingham study?
What about spending habits?
What about arguments about money as the top predictor of divorce, according to Sonya Britt, assistant professor of family studies at Kansas State University?
What about paying interest to a bank?
What about earning interest?
What about buying a car?
How much will you save?
What about earning interest?
What do you have to show for the money?
What about paying cash?
What about your future self?
How does one avoid this problem?
How does financing really work?
Are all forms of borrowing created equal?
What are the advantages?
What are the risks?
What are the considerations for buying a big ticket item?
What about a major expense?
What are the three things to consider when getting a “regular” loan?
- What about the speed?
- What about the interest rate?
- What about the flexibility of repayment?
What are the three ways to pay for a big ticket item?
- What about paying cash?
- What about financing?
- What about leasing?
What about making large purchases through Bank on Yourself® Type Whole Life Insurance Policy loans?
How do they work?
- How much do you want to borrow?
- Where do you want the insurance company to send the money?
- How many days does it take?
What about compounding interest?
How does taking a loan affect cash values?
What about an example?
What about uninterrupted compound growth?
Where does the policy loan money come from?
Does the money leave your policy?
What about the insurance company’s general fund?
Where do the loan payments go?
How does the policy grow?
Are you using your cash value as collateral?
What is a non-direct recognition loan?
What companies offer this feature?
What are the companies that have limits?
Would you like to meet with Mark to discuss your situation?
Can your money be doing two things at once?
How simple is it to get the money out?
How about uninterrupted compounding?
How about flexibility in repayments?
Are you in charge of how the loan gets repaid (or if it gets repaid)?
What happens if the loan doesn’t get repaid?
Who gets the reduced death benefit?
How are these loans different from every other loan?
What about dividends being based on the profits?
What is a mutual insurance company?
Who is a shareholder?
What about an example?
Who would benefit from the mortgage payments that you would be making each month?
What about the growth on an outstanding loan balance?
What are some strategies you may discuss with an authorized advisor?
What about lease arrangements?
What about having a credit check?
Can you be turned down for a policy loan?
What is a typical APR on a policy loan?
What about growth and compound interest?
What is the time table for policy loan repayments?
What about the flexibility?
What about setting up loan repayments, as you need to?
What about accumulation?
What about paying down interest only on an annual basis?
What about taking policy loans for retirement?
Who is in the driver seat?
What happens when a curve ball hits?
What about continued growth of cash value?
What about paying cash?
What happens when one takes a loan from a universal life insurance policy?
What about opportunity cost?
How do you solve the problem of continuously interrupting the growth of your money?
How can this help you eliminate bank financing?
What about other types of loans? Stay tuned!
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Episode 195: How to Write a Contract with Your Future

May 28, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

Can you imagine writing a contract with your future?
Would you like to hear the live webinar that Mark did for Jay Helm’s W2 Capitalist group?
What are the two universal laws?
What about gravity?
What about entropy?
What about division?
What are the risks?
What about unexpected financial responsibilities?
What do we know?
What can we control?
What about real estate?
What about the deed?
Is real estate about bricks and sticks or is real estate about paper?
What did Mark find at a museum in Chicago?
What about annuity buying Romans?
What about a soldier with guaranteed income?
What tangible, practical systems can you set up for your future?
What about Jim Carrey?
What is money?
What about trust?
What about contracts?
What are amateur contracts?
What about fees?
What about taxes?
What about volatility?
Who has a fee?
What do fees do to your accounts?
What does volatility do to your accounts?
How might taxes affect your accounts?
How does one live and thrive under the circumstances?
Where do you put your money?
Where do you plant your money?
What about complexity?
What about simplicity?
What about security?
What about liquidity?
What about systems?
What about predictable outcomes?
What is a futures contract?
What about insurance contracts?
Who is a wheat farmer?
Will you have enough cash to send your kid to college?
What motivates you?
What excites you?
What did Mark learn about participating whole life insurance?
What about Bank on Yourself® type life insurance policies?
What is steady, boring and predictable?
What is cash value?
What about the right design?
Who should you work with?
What companies should you work with?
How much do you want?
When do you want it?
What about no longer working with banks?
What about having a contract with the future you?
What about private money lending?
What excites you?
If this is good, why isn’t everyone doing it?
How do you go from small to big?
How does nature work?
What about a repeating pattern around a center?
What about easy access?
Does that acorn have a future contract?
Have you sat down with a true professional?
Who might you work with who has this expertise?
How many Bank on Yourself professionals are in the United States and Canada?
Would you like to meet with Mark?
Would you like to join our Not Your Average Financial Community?