Not Your Average Financial Podcast™

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

Episode 224: Uninsured and Loving It with Andy Schoonover

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In this episode, we ask:

  • What about health insurance?
  • What is the cost for covering a family in the U.S. for healthcare?
  • Who is Andy Schoonover?
  • What about healthcare.gov?
  • What happened with Andy’s daughter?
  • How much was the 15-minute procedure?
  • What about procedures being considered medically unnecessary?
  • What is CrowdHealth?
  • What about families going bankrupt because of medical expenses?
  • What about catastrophic events leading to financial distress?
  • What about monthly premiums and deductibles?
  • What are our day to day medical needs?
  • How does one pay for the big medical expenses?
  • What is the cost?
  • What happens if the expenses exceed $500?
  • What about crowd funding for health care?
  • What about wellness visits?
  • What about ER visits?
  • Will other members pay the bill?
  • What are the incentives for giving?
  • What about claims?
  • What about medical bill negotiation?
  • What about getting the monthly bill low?
  • What about adding market forces into healthcare?
  • What about negotiating forces?
  • Who owns the money?
  • Who has to give permission to move money?
  • What about guarantees?
  • What about denial of claims?
  • How many bills have been funded?
  • Why is this so marginalized?
  • What about the regulatory environment?
  • Do you need to show a religious affiliation?
  • What are the guidelines?
  • What are the limitations or the pre-existing conditions?
  • How are health insurance premiums incentivized to go up?
  • How are the incentives different for CrowdHealth?
  • Would you like to try Andy’s offer on CrowdHealth?
  • Should we do something because every one else is doing it?
  • What about business owners?
  • What about heads of households?
  • Did you know we are thankful for you?

Andy Schoonover is the founder and CEO of CrowdHealth, a community-powered alternative to health insurance that provides a revolutionary way of paying for healthcare bills through crowdfunding. Schoonover was previously CEO of VRI, a healthcare technology company focused on monitoring patients with chronic conditions out of their homes. He is a graduate of the University of Virginia and Stanford University’s Graduate School of Business.

Episode 221: Benefit from the Rising Cost of College with Marty Smith

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In this episode, we ask:

  • How might one cover the insane, rising cost of college without vaporizing retirement savings at the same time?
  • Do you have someone in your life going to college or planning to go to college?
  • Have you heard Episode 143?
  • Who is Marty Smith?
  • What about a story?
  • Do you like numbers?
  • What about a case study?
Please note: The numbers presented here are for the purpose of an example only.
Please Book a Meeting with us or another Bank On Yourself® Professional to run the numbers specific to your situation.
Would you like to join our membership site to participate in Office Hours?
Join at notyouraverage.mn.co 

Marty Smith is Regional Vice President of Security Mutual Life Insurance Company of New York. 

He loves the 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 218: Top 10 Tough Questions When You Bank on Yourself (Part 2)

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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 215: Client Spotlight with Jack Gerstner

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In this episode, we ask:

  • Can you rely on someone else to create your financial plan?
  • Have you heard Episode 122?
  • Who is your money guru?
  • Who is Jack Gerstner?
  • What about financial education?
  • What about research?
  • What about being open to new ideas?
  • What about challenging assumptions constructively?
  • What is Jack’s story with money?
  • What’s Jack’s story with crypto?
  • What happened when Jack read the Bank on Yourself Revolution book?
  • How does Jack use and leverage the whole life insurance policies?
  • What about renovations on properties?
  • What about medical bills?
  • What about speculation?
  • What about leaving a legacy?
  • What about property taxes?
  • What about compounding power?
  • How are taxes life’s greatest expense?
  • What makes all the sense in the world?
  • What is Jack’s strategy with whole life insurance and crypto?
  • What about Bitcoin?
  • What about speculation and volatility?
  • What about dollar cost averaging?
  • What about risk?
  • What about dividend paying whole life insurance?
  • What about annuities?
  • What about “anchor” assets?
  • What is Jack’s framework for allocation?
  • What about an emergency fund of three to six months of living expenses in your whole life insurance policy?
  • What about giving your money a job?
  • What about Jack’s philosophy for finance?
  • How is money a tool?
  • What about trusting and verifying?
  • What is a wise allocation of time?
  • What about a healthy distrust of mainstream advice, in general?
  • What about financial responsibility?
  • How about owning and learning the right way?
  • How do Bank on Yourself® type whole life insurance policies allow you to take more responsibility?
  • Who cares the most about your money?
  • What about purchasing power?
  • What about inflation?
  • What about inflation as a tax?
  • What happens to dividends on policies when interest rates rise?
  • Why did Jack join the Navy?
  • What would Jack tell his 18-year-old self?
  • What about paying attention to time?
  • What about responsibility?
  • What is reliable?
  • What is within your control?
  • What about your internal locus of control?

Jack Gerstner lives in Elmhurst, IL with his beautiful wife Lauren and their daughter Mia. They have a baby boy due in November 2021. Jack is an Illinois native and has lived here his entire life. He is a Transportation and Logistics professional and an Officer in the Navy Reserve. When he’s not spending time with his family or working, Jack enjoys running, reading, and learning about finance. Jack started his Bank on Yourself journey in June 2014 with Lake Growth Financial and now has multiple policies on him and his family.
Contact Jack on LinkedIn

Episode 208: Turning $82K into $20M with Chris Thurman

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In this episode, we ask:

  • What about a seed?
  • Who is Chris Thurman?
  • What about his partner Grant Thompson?
  • What happened when Mark was a client?
  • What about love?
  • What about life insurance as a central component?
  • What about a story?
  • How do we need to think?
  • What about Nelson Nash?
  • Why did Nelson Nash plant trees?
  • What about having a huge impact on your family?
  • What about the numbers?
  • What about insurance on the wife?
  • What about insurance on the husband?
  • Who do we want to insure?
  • Who do we want to benefit?
  • What happened when the son-in-law ended up in the hospital?
  • What about the paid up additions riders (PUA riders)?
  • What about the death benefit?
  • What about getting the windfall?
  • What did they do that was different?
  • What did they do with the inheritance?
  • How did she buy her house?
  • What happens at age 65?
  • What happens at her age 90?
  • What about multi generational planning?
  • Who started all of this?
  • How much did grandpa contribute?
  • What happens at the 4th generation?
  • What about life insurance on babies?
  • When do we want to start compound growth?
  • What about protecting insurability?
  • What about his son’s insurability?
  • What about teaching your children and your grandchildren?
  • What is the growth?
  • Where else can she start an outcome like this?
  • What about the Rockefeller Family?
  • What about the Rothschild Family?
  • What about the death benefit alone?
  • What have the policies grown to?
  • What about the legacy for this family?
  • Can her son handle this much wealth?
  • Why not term insurance?
  • How many term insurance policies will be in force at 90 years old?
  • Does term insurance have its purpose?
  • Why is whole life insurance required to make it work?
  • What about starting with your children?
  • What about starting with your grandchildren?
  • What about teaching kids on a camping trip?
  • What about teaching kids through example?
  • Who owns their cars?
  • Who borrows on their cars?
  • What about the “normal” way?
  • What about sharing annual reports?
  • What was his experience gifting his daughter a policy after graduation?
  • What about teaching your kids along the way?
  • What do they teach about money in school?
  • What about being normal?
  • What about being in debt up to your eyeballs?
  • What about having a nice credit score?
  • What about having a 401(k)?
  • What about sticking the money in the drywall of your house?
  • What about a sibling summit?
  • Is love part of your rate of return?
  • What principles or proverbs would Chris leave to his family?
  • How was Chris impacted by his Bank on Yourself® type whole life insurance policy?
  • Would you like to reach out to Chris and/or Grant? thompsonthurman.com

Chris Thurman is the co-owner of Thompson & Thurman in Amarillo TX and one of only 200 Bank on Yourself® Professionals in the United States and Canada.  He takes a comprehensive view of each client’s financial situation, and is passionate about guiding his clients towards success. He uses the Bank on Yourself® process to enable his clients to have a rock-solid financial plan and a predictable retirement income, with no luck, skill or guesswork required. Chris helps his clients become their own source of financing and get back what they pay for major purchases so they can have a richer lifestyle in retirement that is not directly dependent on the ups and downs of the stock and real estate markets.
Chris is married to his wife Holly and they have 3 children Austin, Claire and Spencer. In Chris’ spare time he enjoys spending his time at his kids sporting events and spending time with the family in the mountains fishing and riding ATV’s.

Episode 202: Hot Tea with Marilyn Blosser

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In this episode, we ask:

  • Who is resilient?
  • Who is Marilyn Blosser?
  • How did Marilyn get into financial services?
  • What about the federal government’s mandate to hire women in the insurance industry?
  • What about a stable salary?
  • What about commissions only?
  • What about a subsidy?
  • What about an unlimited income potential?
  • What about working from the heart?
  • Will Marilyn ever retire?
  • What about the Million Dollar Round Table (MDRT)?
  • How has Marilyn dramatically changed people’s lives?
  • What about the hiring culture?
  • What about Marilyn’s work with CNA?
  • What about working with property and casualty agents?
  • What happened with Henry?
  • When did Marilyn open her own business?
  • What about high net worth individuals?
  • What are the changes Marilyn has witnessed in the industry over her career?
  • Is life insurance only about the death benefit?
  • What about the living benefits alongside the death benefit?
  • What about Dave Ramsey?
  • What about Suze Orman?
  • What about buy term and invest the difference?
  • What about the 401(k)?
  • What about the volatility?
  • What’s the plan when the market drops?
  • What about Walt Disney and J.C. Penney using the living benefits of their whole life insurance?
  • Will it go backwards?
  • How can you protect yourself from volatility, regardless of age?
  • What is the best a 401(k) can do?
  • What about risk?
  • What is not understood about life insurance?
  • What about Ed Slott?
  • Does the insurance company send a 1099?
  • What about working with happy clients for decades?
  • Why can’t certain clients put more money into their policies?
  • What about converting term insurance to whole life insurance?
  • What about overcoming the fundamental challenges?
  • What about financial illiteracy?
  • What about the busyness of life?
  • What happens in an emergency?
  • What about the cash flow spreadsheet?
  • What about paying attention?
  • What are some interesting client experiences?
  • What about Marilyn’s client who was also a convicted felon?
  • Did the felon get approved for life insurance?
  • What about the Rockefeller family’s dynastic trust?
  • What about the Vanderbilts?
  • What about Marilyn’s policies?
  • What about setting up a trust?
  • What about the policies in the family?
  • What about Ben Franklin?
  • What about long term thinking?
  • Why is Marilyn blowing the horn for properly designed whole life insurance?
  • Would you like to reach out to Marilyn by phone at 305-934-7705?
  • Would you like to reach out to Marilyn by email at mmb@blosserfinancial.com?

Marilyn Blosser was born in Miami & has lived in Florida all her life.  She’s been in the financial services business for almost 45 years.  

Marilyn is very active in her professional organization WIFS, Women In Insurance & Financial Services, having served many terms on both the National & Local Board of Directors.  She also belongs and is active in several service organizations including the American Legion.  Marilyn enjoys spending time with family & friends as well as playing golf and is an avid poker player. Reach out to Marilyn by phone at 305-934-7705 or email her at mmb@blosserfinancial.com.

Episode 200: The Question is the Answer

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In this episode, we ask:

  • What about Socrates?
  • What did he say?
  • What about drawing out?
  • What about the socratic method?
  • What’s the process?
  • What about financial professionals?
  • What about asking interesting questions?
  • What about asking good questions?
  • What about Dale Carnegie?
  • What are the six types of questions that Socrates posed?
  • What about clarifying concepts?
  • What about probing assumptions?
  • What about probing rationale or reason or evidence?
  • What about questioning the viewpoint or the perspective?
  • What about probing implications or consequences?
  • What about questioning the question?
  • What about a deep dive conversation?
  • What happens with new clients?
  • What are some of the best conversations you’ve had?
  • How has the world changed?
  • Are you prepared?
  • How will you face new challenges?
  • Will government be able to care for the elderly?
  • How much does a year of nursing home care cost?
  • How are people living longer?
  • What about social security?
  • How long were benefits supposed to last?
  • What about Medicare?
  • How will these systems continue functioning?
  • What about the reality of living to age 100?
  • What about the reality of living to age 120?
  • Are people living longer than ever before?
  • What is the current transformation?
  • What about the industrial economy?
  • What about the information economy?
  • What about labor?
  • What about The End of Work by Jeremy Rifkin?
  • What did Harvard predict?
  • What about doing something else in two years?
  • Who needs job skills?
  • Who needs a new way of thinking?
  • What about time?
  • What about money?
  • What about interest rates?
  • Will interest rates remain this low?
  • What about government debt?
  • What about the rule of 72?
  • How many years will it take you to double your money?
  • What about inflation?
  • How many years will it take to double your income?
  • What about the rule of 115?
  • How many years will it take to triple your money?
  • How many years will it take to triple your income?
  • What about guaranteed income?
  • What about mortality credits?
  • What about leveraging?
  • Would you like to meet with Mark?
  • What about the world of low interest rates?
  • What about money printing?
  • What about the M2 supply?
  • What about the World Debt Clock?
  • What about the future inflation of that money?
  • What is the forecast?
  • Who pays more when inflation rises?
  • What will happen in fourteen years?
  • What about living with a lower standard of living?
  • Will you even be able to retire?
  • How might we offset inflation?
  • What about the market giving zero returns?
  • What about Wall Street?
  • What about a 401(k)?
  • What do you want to do about all of this?
  • What do you want to have happen to you, when you die?
  • What do you want to have happen to you, when you become disabled?
  • What do you want to have happen to you, if you have a critical illness?
  • What do you want to have happen to you, when you need long term care?
  • What do you want to have happen to you in retirement?
  • What about access to cash?
  • What about volatility?
  • What are the some of the financial miracles available?
  • What about compound interest?
  • What about tax deferral or tax free compound interest?
  • What about leverage?
  • What do you want to tackle?
  • Do you have access to capital?
  • How might you take advantage of these opportunities?
  • What about good news?
  • What are your favorite questions?
  • What are your takeaways?
  • What actions will you take?

 

Thanks for all of your support! We’re at 200 episodes!

Episode 199: Buy. Borrow. Die. …Pay Zero in Tax?

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In this episode, we ask:

  • How do the .001% navigate their taxes legally?
  • What about the ProPublica report?
  • How do they legally pay a tiny fraction of their fortunes in taxes?
  • What was your reaction to this news?
  • As your income rises, do you pay more in taxes?
  • Under current law, what is the highest tax bracket?
  • What do the ultra high net worth pay?
  • How is wealth different from income?
  • What will you pay in tax?
  • What about loans?
  • What about paying back loans?
  • What about collateral?
  • Do you have a pen and paper?
  • What about buying assets?
  • What about a home?
  • Does your house have an ATM attached?
  • When do you pay tax on an asset?
  • What about borrowing money?
  • Do you pay a tax when you borrow?
  • What are the tax advantages of debt?
  • What about interest?
  • What happens to wealth at death (when you die)?
  • What about tax on death benefits for life insurance?
  • What is the big divide?
  • What about the asset side?
  • What’s the caveat?
  • What happened in 2013?
  • What about buying with after tax dollars?
  • What about the step-up in basis?
  • What about the $1 salary?
  • What about Bank on Yourself®?
  • What is premium?
  • What is cash value?
  • What is death benefit?
  • What about buying premium?
  • What about borrowing cash value?
  • What about when you die, giving your death benefit to your beneficiary?
  • What about tax with life insurance?
  • What about strategies like bonus depreciation?
  • What about rental income?
  • What about not issuing dividends?
  • What about dividends in life insurance?
  • What is a refund of premium?
  • What about the option for purchasing PUAs with dividends?
  • Are you able to receive the dividend as a check?
  • When will tax be due?
  • What grows forever?
  • When do markets crash?
  • What about the generosity of a banker?
  • What if stocks go down?
  • What about living on stocks?
  • What about a margin call?
  • Could you come up with the money you need?
  • What about the cost of borrowing against the assets?
  • What about liquidating?
  • What about fixed income assets?
  • What about improvement of projections?
  • What happens if interest rates rise?
  • What about building up significant cash value?
  • What about income tax?
  • What about estate tax?
  • Who needs a trust?
  • Who needs an attorney?
  • What is the estate tax threshold under current law?
  • What reduces the death benefit?
  • What happens with unpaid policy loans?
  • Are death benefits taxable?
  • Are gains taxable?
  • What about an example?
  • What questions do you have?
  • What about beneficiaries?
  • What about teaching your children?
  • What about Mark’s mom?
  • Would you like to meet with Mark Willis, CFP® to discuss your specifics?

 

The topics presented in this podcast are for general information only and not for the purposes of providing legal, accounting or investing advice.

On such tax matters, please consult a CPA professional who knows your specific situation.

Episode 198: Live Your Best Life (Insurance)

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In this episode, we ask:

  • Would you like to hear this letter?
  • Would you like to download the letter? Subscribe to our email, and get the letter FREE.
  • What is your job to do on this earth?
  • What is the meaning of life?
  • Do you have a mission greater than yourself?
  • Who is responsible?
  • What about the fragility of life?
  • What about protection?
  • What about meaning and purpose?
  • Who wants to leave a large gift upon passing away?
  • What about taking life seriously?
  • What about desire?
  • What about caring for children and grandchildren?
  • Do you have car insurance?
  • What happens to your car insurance premiums if you never have an accident?
  • What about home insurance?
  • What happens if you have no triggering events?
  • What about health insurance?
  • What happens if you stay healthy?
  • Do you still pay the premium just in case?
  • What about the death benefit?
  • Why do they call it LIFE insurance?
  • What about the powerful advantages of the cash value?
  • Why do I need a death benefit at all?
  • Why do I need insurance expenses in the first few years?
  • What will you miss?
  • Why is the death benefit the asset?
  • What about a savings account?
  • What about guarantees?
  • What about the contractual growth?
  • What about guaranteed fixed interest?
  • What about collateral?
  • What about a relief of liability?
  • What about the tax advantages?
  • What about the income tax law?
  • What about widows, orphans and charitable causes?
  • What about incentives for private citizens?
  • What about borrowing from the policy?
  • What about an example?
  • What about mortality credits?
  • Have you heard Episode 197?
  • What about life transitions?
  • What about long term care?
  • What if?
  • What about dividend paying whole life insurance?
  • How much value would you like to build for your family and business?
  • Would you like to change your life?
  • What facts will change?
  • What about making good on your promises?
  • To whom are you responsible?
  • Will you reassure them?
  • Will you make sure they know?
  • Did you download the letter yet? Subscribe to our email, and get the letter FREE.

 

 

Episode 192: Can I Bank on Yourself® Outside of the United States? with Stephen Devlin from Canada

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In this episode, we ask:

  • What about courage?
  • What about taking big leaps?
  • Who is Stephen Devlin?
  • Do you live outside of the U.S.?
  • Have you ever jumped out of an airplane?
  • How did Stephen’s life change?
  • Why did Stephen become a Bank on Yourself® professional in Vancouver, Canada?
  • What happened to Stephen’s business in 2008?
  • How does money work?
  • What about the bank?
  • How does Bank on Yourself® work in Canada?
  • What are the slight differences?
  • How is the population of Canada different from the U.S.?
  • What about the insurance companies?
  • What about the requirements?
  • Have you heard Episode 159?
  • What about labels that mean nothing?
  • What happened when Stephen went to the insurance companies?
  • What happened in 2012?
  • When did Stephen realize he had a passion for training and mentoring?
  • What are the differences in naming around taxed deferred vehicles in Canada?
  • What’s the same?
  • What’s an RSP? What’s a tax-free savings account in Canada?
  • What’s an ESP?
  • What do you want your money to do for you?
  • How do you want to control your financial future?
  • What about guaranteed cash accumulation?
  • What about tax advantages in retirement?
  • What about the ability to borrow from the policy?
  • What about the ability to leave your family a legacy beyond what you’ve saved?
  • What are the limitations?
  • What about keeping policies tax exempt?
  • What would Stephen like to see?
  • What about patience?
  • What sort of client photos and messages does Stephen receive?
  • What are Stephen’s clients doing with their Bank on Yourself® type whole life insurance policies?
  • What about policies on grandchildren?
  • What do you use your policy for?
  • What might you accomplish?
  • Who moved to Canada because they wanted access to Bank on Yourself®?
  • What should you do if you live outside of the U.S. or Canada?
  • What options exist?
  • Who has a right to get these policies?
  • What about underwriting?
  • What about doing business in North America?
  • What is possible?
  • What drives Stephen?
  • Who is ready for some homework?
  • Are you in Canada? Would you like to reach out to Stephen?
  • What are the options?
  • What are your rights?
  • What choice will you make?
  • What about key interests?
  • Are you in the U.S.? Would you like to meet with Mark?

Stephen Devlin co-founded two of Canada’s leading companies in creating safe and secure wealth-building systems for personal use and business, taking advantage of an underutilized strategy with whole life policies. With offices across Canada and as President and Chief Financial Officer with MacDev Financial Group and SET Financial Solutions Inc., Stephen leads an exclusive group of advisors that specialize in his financial philosophy.

Stephen is passionate about self-empowering his clients to achieve financial control for life by educating and coaching them
on key financial principles. He is regarded as one of Canada’s leading experts in the Bank On Yourself®, and engineering multi-figure strategic wealth plans as an accredited advisor in these concepts.

Stephen is also a member of the prestigious Million Dollar Round Table. Stephen has been featured in local and international media, including Forbes, USA Today, A&E—and more. He has also authored two award-winning, best-selling books. More recently, he launched his own TV show “Financial Control for Life”. Stephen and his wife, Michele Platje-Devlin—CEO & Chief Compliance Officer for both companies live with their teenage son in Vancouver and on the Sunshine Coast.