Family

Episode 297: What It’s Like to Give Out 500 Death Benefits with Andrew Young

May 12, 2023 by Not Your Average Financial Podcast

In this episode, we ask:

What is even better than a five-star review on this podcast?
Who do you know who needs to hear this?
Would you like a FREE book? Email us at hello@nyafinancialpodcast.com
What about the mourning and sadness?
What about best practices for leaving an inheritance?
Who is Andrew Young?
Why should you keep your beneficiaries up-to-date?
What about the deceased’s wishes?
What happened when Andrew’s dad died?
What happens when families do the wrong thing?
Should we tell our beneficiaries that they are getting money?
What does Andrew recommend?
What about adult children?
What about an annual meeting?
What about reviewing the beneficiaries annually?
What about an example?
Why is it so important to work with an advisor?
What could have happened if…?
How did Andrew’s client dodge a massive mistake?
Which is smaller, the cash value or the death benefit?
What about covering nursing care?
What about a story?
What is the very nature of life insurance?
What about dementia?
What is the advantage of very mature policies?
How fast did the family receive the death benefit upon his death?
What is the typical rough timeline for death benefit payments?
How were the generations changed?
What about another story?
What about getting everything in place?
How did Andrew become an honorable member of the family?
What can we do to receive well?
What can we do to give well?
Do you have a place for your usernames and passwords?
Are the survivors able to access your accounts, documents and other details?
What about the medical directive?
What about a patient advocate?
What about getting legal documents set up?
Does everybody have a will?
How might we set our family up to succeed?
What about a poem?
Aren’t you thankful for Andrew?

Andrew Young is the Director of Recruiting for Bank On Yourself®. For over 25 years, Andrew has worked with individuals and business owners on retirement planning, succession planning, and estate preservation. He has been married to his wife Maureen for over 35 years, and they have two children. In Andrew’s spare time, he and his wife love to sail.

Episode 296: [The Survivor’s Checklist] What To Do When Your Loved One Passes

May 5, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

Who needs to hear this?
Would you like a FREE book? Email us at hello@nyafinancialpodcast.com.
What about unclaimed life insurance funds?
What about going into “full detective mode”?
How might you search?
What about the deceased’s own paperwork?
What about the deceased’s recent tax returns?
What about the deceased’s transaction history?
Are you the named beneficiary?
Can you call the insurance company to find out if you are a beneficiary?
What about the National Association of Insurance Commissioner’s (NAIC) life insurance policy locator service tool?
What about an example?
Is there a contingent beneficiary?
What happens if no beneficiary can be found?
What happens if the death benefit goes to the deceased’s estate?
Does the federal government have a website for this?
Can you find it on your own?
What about the unclaimed property office?
What happens if you move to another state?
What about unclaimed wages?
What about VA benefits?
What about unclaimed insurance funds?
What about the IRS and the federal tax refund?
What about the state tax refund?
What about treasuryhunt.gov for savings bonds?
What about SEC claims on stocks and brokerage funds?
What about contacting the brokerage fund directly to find an account left in your name?
What can you do to broach the topic?
When would be a good time to have a 30-minute conversation?
How could this be a positive experience for everyone?
Do you know about your parent’s life insurance policy or policies?
Do they have medical care benefits on these policies?
What if the worst has just happened?
Would you like to have the Survivor’s Checklist?
What needs to be done?
What do you need to do in the first few days?
What about the certified death certificate copies?
What about the deceased’s files and safety deposit boxes?
Is burial insurance or final expense insurance in place?
Has your loved one selected a cemetery location or plot in advance?
What about contacting the funeral home?
Should you assign the death benefit to the funeral home?
Should the death benefit get paid directly to you?
Should the death benefit be paid as a lump sum or as ongoing payments?
What should you do within the first week of someone’s passing?
What about the Social Security Administration?
What about Veteran’s Affairs?
What about the Department of Health Services (if they were receiving Medicaid)?
What about the insurance companies?
Do you need to contact the life insurer?
Do you need to contact the medical insurer?
Do you need to contact the disability insurer?
Do you need to contact the homeowners insurer?
Do you need to contact the auto insurer?
How long does it take for a life insurance death benefit to be paid out?
What do you do with the certified death certificate?
What about the liquidity of the life insurance company?
What happens with lump sums at a bank?
Who can easily withdraw $1M from a bank account? Are banks liquid?
How many days does it take to get a large withdrawal from the bank?
Are bankers allowed to ask you questions about why you want your own deposits back?
What about unused life insurance premium?
What about the retirement account plans (401(k), IRAs, Pensions, and other benefits still due to them)?
What about cancelling recurring bills?
What about closing down online and social media accounts?
What about establishing an I Love You folder with passwords?
What about bank accounts and online accounts?
What about the probate process?
Does your loved one have a will or trust (who is the trustee?)?
What about issuing bond?
What about notifying creditors that your loved one has passed?
What about taking an inventory of all assets and liabilities?
What about asking the court for a final distribution of the estate to be paid out to beneficiaries?
What if the loved one had a small or no estate?
Is there agreement among surviving relatives?
How can you collaborate with relatives in a constructive way?
What about the overwhelm?
What about the grief?
How might you love your family to make this process so much easier?
What is an I Love You folder?
What are the documents you should leave?
- What about the sources of all of your income?
- Where are your assets held? (401(k)s, IRAs, Pensions, Social Security, Medicare, Life Insurance premiums, etc.)
  - Company
  - Account Numbers
  - Listed Beneficiaries
  - Bank accounts and numbers
  - Phone numbers or addresses of companies
- What online accounts, social media accounts and other usernames and passwords will your loved ones need to access upon your death?
- What do you want your funeral to be like exactly?
- What items do you want to leave to specific people?
- What would you write in a letter to your closest loved ones? (Would you like a hand writing this letter? Hop on our calendar and select a time.)
What can you do this week to make sure your family is better off?

Episode 295: How to Prepare Your Family for an Inheritance

April 28, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

What do you say to someone when you know it’s the last time you will ever speak to them?
How do you say something loving and honoring?
What are the most important and pressing issues?
Who is prepared? Who is not prepared?
How does true wealth come through assets plus skills?
What about the mindset and skillset that’s needed?
What about education?
What about buying a home?
What about mentoring the next generation?
What about leaving a family fund?
How might one create a family fund or family reserve using Bank on Yourself® type dividend paying whole life insurance?
What about creating a long-term, safe and sure wealth bucket?
What about instantly creating a legacy and a savings strategy for years to come?
What will help your whole family weather tough economic storms?
What about long-term thinking?
What about a more durable view of wealth?
What about the family thinking as a family unit?
What about creating financially responsible kids and adults?
What skillsets will grow?
What about creating a mission for your family that’s bigger than individual happiness?
What do you prefer?
How does one get started creating a family fund?
Who do you need at the table?
What is your greatest asset?
Would you like to hear Episode 294?
What about the big picture strategy?
What is the best design?
What is the unique solution for your specific needs?
Would you like to meet with Mark to discuss a family fund?
How soon does one see cash value?
How might one use cash value from whole life insurance policy loans?
What about an uninsurable life insurance policy owner?
Who is buying policies on family members?
Who is buying policies on their parents?
Who is buying policies on their kids?
Who is buying policies on business partners?
What about a parent matching program?
How might both generations contribute to a policy?
How many creative ways can you think up?
What about an example?
What about single premium immediate annuities?
Is it possible for annuities to pay insurance policy premium?
What about the Vanderbilts?
What about the Rothschilds?
What about leaving assets?
What about leaving assets and values?
Who is a part of the ever unfolding story?
Why does family wealth evaporate?
Does success leave clues?
Do you have control over your assets?
Who has control over your assets?
What about saving?
What is the different between lending and giving?
How might kids use family money wisely?
What skills do kids need to remember?
What about nurturing and training?
What about long-term thinking?
What about delayed gratification?
What about displaying family values?
What are the takeaways?

Episode 294: How Families and Financial Advisors Sabotage Generational Wealth

April 21, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

Who needs to hear this?
Would you like a FREE book?
What about leaving a legacy?
How many generations?
What did Gloria Steinem say?
What about aggressive investment?
Did you lose $1?
Should we become more conservative as we get closer to retirement?
What is human capital?
How might we think like a family?
What is the greatest asset?
Would you like to hear Episode 104 and Episode 105?
How might one take an individual’s net worth and build up the family for generations?
Who is “taken out of service”?
Who will transform the family?
What happens in retirement?
What is the work that you love?
What about consulting?
What about freelancing?
What about starting a business?
What about mentoring the next generation?
What about sharing your story?
Is insurance temporary?
How is life insurance the bedrock of generational wealth?
Who buys term insurance?
…What do they have to show for it?
What happens when term insurance runs out?
What is the best age to purchase insurance?
What are the guarantees?
What is the only type of life insurance that offers guarantees?
What about government and taxes?
How much will you pay in tax in retirement?
What are the restrictions on the 401(k) or IRA?
Do you want the choice to spend down the accounts?
What happens now the SECURE Act has passed?
What are growth vehicles?
What are transfer vehicles?
What about failure?
What if there was no transfer of power?
How might we prepare the people to receive gifts?
Who is leaking money, as the generations progress?
What about shirt sleeves to shirt sleeves in three generations?
What about nurturing emotional, intellectual and human/social capital of the family?
Why do so many focus on short term thinking?
How do we avoid sabotaging and avoiding long term generational wealth?
Would you like to talk with Mark about generational wealth?
What are the four key elements that lead to long term thinking and generational wealth?
What about financial foundations?
What about saving?
What is the opposite of saving?
What about a family fund?
How might one save money, mitigate against risk and provide permanent protection and leave a legacy?
What about family lending?
What creative ways might you use family capital?
What if grandma and grandpa bought up all of the loans for the children and grandchildren?
What would happen if the wealth stayed within the family (instead of bleeding interest to bankers)?
What about leadership?
What about mentorship?
What about nurturing family relationships?
What about growing children into world leaders?
How young is too young?
What about legacy?
How might we prepare the people for the money?
What about the traditions and the values you leave behind?
What about sharing this episode with a family member?

Episode 282: Nearly All of the Places Money Can Live with Mark and Katrina Willis

January 27, 2023 by Not Your Average Financial Podcast

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In this episode we ask:

Are you missing out?
Would you like to subscribe?
Join the FREE Not Your Average Financial Community to receive a notice about this year’s dates!
Would you like a 30,000 foot flyover of financial choices?
Where might you park your money?
Where does your money live?
Why does this matter?
What are the pros?
What are the cons?
What were the news cycles saying in May 2022?
What about cash?
What about checking?
What about savings?
What is great about cash?
What are the downsides of cash?
What about inflation?
What about certificates of deposit (CDs)?
What about bonds and bond funds?
What about precious metals?
What about crypto?
What about term life insurance?
How about fixed annuities?
What about variable annuities?
What about dividend paying stocks?
What about stock buy backs?
What about common stocks?
What about tech stocks?
What did DALBAR say?
What about ETFs?
What about TDFs?
What about qualified plans, like 401(k)s?
What about real estate?
What about indexed universal life insurance?
What about variable life insurance?
What about business and K-1 partnerships?
What about Bank and Yourself® type whole life insurance?
What about all time record highs?
Is it an “either/or”?
Is it a “both/and”?
What are Mark’s takeaways?
Would you like to hear Episode 187?
Which of these tools were surprised about?
What did you learn? What are your takeaways?
Would you like to meet with Mark?

This is a segment from our 2022 Not Your Average Financial Summit. If you enjoy this presentation, and are interested in all of the slides and resources, consider joining us this autumn for the 2023 Not Your Average Financial Summit!

Episode 278: Overcoming Imposter Syndrome with Brian O’Neill

December 30, 2022 by Not Your Average Financial Podcast

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In this episode, we ask:

Do you need new skills?
What about the tools?
What skills might it take to be a good and successful employee?
What does it take to become a business owner or entrepreneur?
Who is Brian O’Neill?
What does it feel like to quit your day job?
What was the message Brian internalized?
What happened when Brian had a son?
What did Brian’s son say?
What did Brian say to his wife?
When did Brian end his W-2 job?
What about anxiety?
What is the imposter syndrome?
What about the fear of success?
Have you read the book, Mindset by Carol Dweck?
Who has made errors?
What hurdles did Brian overcome?
Where is the true risk?
What are some of the practical things Brian has engaged?
How was a Bank on Yourself® type whole life insurance policy life changing for Brian?
What about health insurance?
What about tax?
Is your boss in a parental role?
How might you rely on yourself?
What happened when Brian told his son about his Bank on Yourself® type whole life insurance policy?
What is the strong reason?
What will it look like if…?
What is Brian up to?
Would you like to learn more at w2prisonbreak.com?
Where is the most risky place to be, in terms of your income?
Would you like to join our FREE Not Your Average Community?

Brian O’Neill is an experienced real estate investor, author, speaker, coach and podcast host. In his real estate business, he specializes in creative finance strategies for purchasing properties, offering flexible solutions for both buyers and sellers.

Brian spent 25 years in corporate sales, stuck in a job he didn’t like and being away from his wife and young son. After decades of trying, Brian was finally able to break free and start his own real estate business and now he helps other aspiring entrepreneurs in similar situations
break out of their W2 Prisons through his coaching program and his podcast – The W2 Prison Break Show.

Brian has experienced many challenges and roadblocks in his life and has had lots of help from family, coaches, and mentors along the way. Providing the highest value to his clients to help them realize their dreams is something that drives him on a daily basis.

Episode 275: [TOOLBOX] The Rare Commodity of Thinking and How to Do It

December 9, 2022 by Not Your Average Financial Podcast

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In this episode, we ask:

What are the actual steps of thinking?
Do you have a process for your thoughts?
Do we already know it all?
How does one reverse engineer?
Have you read The Road Less Stupid by Keith Cunningham?
Would you like to avoid the arrival syndrome?
What can we improve?
How much money would you have in your hands right now, if you could unwind the worst three financial decisions you’ve ever made?
What about doing fewer dumb things?
What about reading and thinking?
What is the skillset?
What about taking 30-45 minutes centered around a high value question?
What about pain avoidance?
What are the core disciplines?
Could we all become a bit better at thinking?
How many arguments might we avoid?
How much would it improve our BMI or waistline?
How about adding zeros to your net worth?
What is the unasked question?
What is the right answer?
What is the real problem?
What about the right question?
How might I ______ …. so I can _________ … ?
Would you like to hear Episode 122?
How might you separate the problem from the symptom?
What are the biggest problems?
What about adventures in missing the point?
How is the root problem different from the symptom?
- What are the possible reasons I’m noticing this symptom?
- What is not happening, that if it did happen would cause the perceived gap to narrow or disappear?
- What is happening, that if it stopped happening would cause the perceived gap to narrow or disappear?
Is this an easy task?
What about brutal honesty and penetrating questions?
What about checking your unexamined assumptions?
Where have I been substituting my opinions for real facts?
What do I not see?
What about considering the second order consequences?
- What is the downside?
- What is the upside?
- Can I live with the downside?
What about examining the unintended consequences?
What about creating the machine?
What about the change that will close the gap?
What about getting closer to our desired outcome?
What about a new strategy?
How might you use the skill of thinking to your advantage?
How might you get to the root and take decisive action?
Will you sit down by yourself and think?
Would you like to meet with Mark?

Episode 274: What Your Money is Trying to Tell You with Marty Smith

December 2, 2022 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to hear a very special presentation?
Is dividend paying whole life insurance the best vehicle possible?
Who is Marty Smith?
How is Marty in the belief changing the business?
Is the bank the best place to store your money?
Is the 401(k) the best place for your retirement dollars?
Is the 529 plan the best way to pay for education?
Is financing your car through the dealership the best way to pay for it?
What happened at the SML officers meeting?
What might would we do instead of a 401(k)?
What happened?
Why did you buy a dividend paying whole life insurance policy?
Why should you buy a dividend paying whole life insurance policy?
What about Nelson Nash?
Did Nelson Nash own 45(!) dividend paying whole life insurance policies?
Why don’t people buy?
Do most of us live our lives unconsciously?
Is reality hard to see?
What about lies, half-truths, misdirections, etc.?
What did Socrates say?
How do you become conscious?
How do you become aware?
What about thinking?
What happens next?
What about the feelings?
What about the intuition?
What about the sensations?
What are the clues?
What about examining the suffering?
What is the solution?
Is there a better way to reach my financial goals?
Do I have to take as much risk as I am taking?
What about taxes?
What about regulation?
What about inflation?
Why did I buy dividend paying whole life insurance policies?
Why did you buy dividend paying whole life insurance policies?
Why should you buy dividend paying whole life insurance policies?
What did Pamela Yellen say?
Is there something better?
What was Marty’s profound, life-changing experience?
What are the four simple reasons?
What happens when you become conscious?
Who taught you to put money in the bank?
Is the money in your bank guaranteed to grow?
What about negative interest rates?
What about disability?
What about a death benefit?
How is a dividend paying whole life insurance policy different?
How important is a leveraged death benefit?
What about cash value?
How much does your life insurance actually cost?
What is the best retirement vehicle for your money?
What did the creator of the 401(k), Ted Benna, say?
What is almost the opposite of the 401(k)?
What about liquidity?
What about increases?
What about tax free death benefits to leave for your family?
What is the best financing tool available?
What about collateralization through policy loans?
What about the growth?
What about control?
What about loan payback schedules?
What is the power of banking on yourself?
What about the power of building wealth with each generation of your family?
What about denial?
What about the clues?
What about suffering?
What should we welcome?
What might we examine?
What about thoughtful, critical actions and decisions?
Is dividend paying whole life insurance the best product ever created?

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 273: Avoid the BEAR Trap and Build Real Wealth

November 25, 2022 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to jump in together?
Would you like to avoid the BEAR traps?
Why do people continually do things that are not in their best interest?
What about our subconscious operating system?
What about subconscious beliefs about money?
Is money the root of all evil?
Who deserves money?
Who needs money more?
Is there never enough?
Will I lose it?
Will my spouse take care of me?
What about the BEAR trap?
What about beliefs?
What about excuses?
What about actions?
What about results?
What happens when people win the lottery?
What about hitting an upper limit?
What about changing our beliefs?
What about taking stock of actual thoughts?
What about writing down your thoughts about money?
Do you have a journal?
Are the rich all crooks?
Is your house an asset?
Where did each of these beliefs come from?
Who taught you these?
What about mirror neurons?
What did Jim Rohn say?
What about excuses?
What about the future?
What about core beliefs?
What about thinking fresh thoughts?
What about thoughtful and exciting experimentation?
What about bringing it into the real world?
What about the actions? What about the being?
What is at the root?
What about finding encouraging results?
What about celebrating an upward spiral of results?
Where will your potential take you?
Was this helpful for you?
Does this start with you?
What’s your relationship with money like?
Does money get spent as soon as you have it?
Did you jot down your thoughts about money?
Would you like to be pleasantly surprised?

Episode 262: Don’t Make This Hard! 13 Crucial Questions about Money with Doug Peacock

September 9, 2022 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to join us for the Not Your Average Financial Summit in the afternoons on Friday, September 30 and Saturday, October 1?
Login or Join the FREE membership community to Reserve Your Spot!
Did you do what you were supposed to do?
Who is Doug Peacock?
What is Doug’s story?
Why does Doug work with the guarantees inherent in whole life insurance?
What are the 13 Crucial Questions?
Is it truly your money?
Do you know what the future value of that money will be?
What happened in 2008?
Does your money get to set a new time high, every day?
Would you like to hear Episode 197?
Does your current financial storehouse generate additional income for you?
Are you an owner?
Did people receive dividend checks in the Great Depression?
If you have unlimited access to your cash for your lifestyle needs or your business needs as much as you want?
Are brokerage accounts liquid throughout your lifetime?
What about home equity lines of credit (HELOCs)?
Can you leverage your money in your favor and still earn interest on it?
Can you control the repayment terms of the loan with your current bank?
What about employee retention and new hires?
Do you think taxes going up, going down or staying the same?
Do you want to pay taxes on the seed or the harvest? Do you want to pay taxes on a little or a whole lot?
Is a dollar worth more today or tomorrow?
What is the status of 95% of 65-year-olds, financially speaking?
Do you want someone else to hire away your best employee because of your benefits?
Do you want to pay more taxes?
Do you want the courts to tell everyone where your money is going after you die?
Do you want your competitor to be able to take advantage of opportunites that you cannot, because you couldn’t come up with the money?
Do you want some of money to be locked up when you try to leave your money as a legacy?
Do you have a guaranteed exit strategy from your business?
Is this hard?
Would you like schedule with Doug at peacockwealthgroup.com?

Doug Peacock spent 38 years as a high school teacher and football coach. He tried to retire the traditional/conventional path, and things didn’t work out like he was led to believe. He learned that other teachers and coaches were having the same conversation. Doug literally watched his 403(b) become a 203(b) twice in the last decade of his teaching career. He knew there had to be a better way, so he started learning how wealth really works.

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