Not Your Average Financial Podcast™

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

Episode 175: Five Surprising Benefits of Lifetime Income

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In this episode, we ask:

  • How would you like to be paid every single day for the rest of your life?
  • What are the surprising benefits of life time income?
  • What about risk for retirees?
  • What about longevity?
  • Will you live and live and live?
  • What about an annuity?
  • Did he just say the A-word?
  • What about Ken Fisher and Dave Ramsey and Suze Orman?
  • Why do they love annuities?
  • What does a guaranteed income look like?
  • What about money managers?
  • Who loves the idea of lifetime income?
  • What about lifetime income that you cannot out live?
  • What about the pension system?
  • What about the pension problem?
  • Will they up taxes or cut benefits?
  • What about pensions moving into annuities?
  • What about private annuities?
  • What about Bank of America? What about Merrill Lynch?
  • What about the New York Times?
  • What about General Motors?
  • Why are major companies buying private annuities?
  • What about Lehman Brothers?
  • What did Lehman do differently with the executives?
  • What did the TIAA CREF survey say?
  • What about retirement predictability?
  • How are fixed indexed annuities helpful?
  • What about anxiety?
  • What did the Wall Street Journal say?
  • What about friends, neighbors and fixed annuities?
  • What about retired school teachers?
  • What about happiness?
  • Who has to rely on the stock market?
  • How does a fixed indexed annuity compare to other products?
  • Do annuities lack liquidity?
  • Will you likely live longer?
  • What about the 4% rule?
  • Is it now the 3% rule?
  • What about a single premium immediate annuity (a.k.a. a SPIA)?
  • What would Wall Street ask you to build up for retirement?
  • What is the most efficient tool for income?
  • What about a hybrid strategy?
  • What happens in an emergency?
  • What about discretionary expenses?
  • How might you neutralize risks?
  • What about the sequence of return risk?
  • What about the withdrawal rate risk?
  • What was the average return?
  • Would you like to join our Not Your Average Financial Community?

 

Episode 173: Am I Too Old for Bank on Yourself®? Part 2

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In this episode, we ask:

  • Did you hear Part 1 in last week’s episode, Episode 172?
  • What about Bank on Yourself® for seniors?
  • What about long term care?
  • Can an 85-year-old get life insurance?
  • What about examples?
  • How do lump sum premiums work?
  • What about riders?
  • What about growth?
  • What about guaranteed values?
  • What about inflation?
  • What is a single premium whole life policy?
  • What about health concerns?
  • What is different about underwriting?
  • What about insuring someone in your family or business?
  • What about ownership of the policy?
  • What questions should you ask?
  • What about retirement?
  • Who do you know that needs to consider this?
  • Has your retirement gone up in value every single year?
  • What about dividends?
  • How strong is the institution where your money is held?
  • What about luck?
  • What about skill?
  • What about growth and principal?
  • What about taxes on gains?
  • Can you spend the money while it’s still growing for you?
  • What about borrowing cash value?
  • What is the path toward uninterrupted compound growth?
  • Do you have a Bank on Yourself® professional to talk with?
  • What is a non-recourse loan?
  • What happens when you die?
  • Is your money liquid?
  • Are you penalized from accessing your money?
  • Is your money trapped?
  • How much can you withdraw?
  • What’s pretty cool?
  • What about retirement income?
  • What about the biggest complaints from seniors?
  • What about penalties?
  • Does your plan address the 500-pound gorilla in the room?
  • What about long term care?
  • What about activities for daily living?
  • What about giving to charity?
  • What about probate court?
  • Would you like to hear some examples?
  • What about the sandwich years?
  • What about required minimum distributions or RMDs?
  • What about a home health care benefit?
  • What about leaving a legacy?
  • Where do seniors tend to keep cash?
  • What is possible and not possible to do?
  • Would you like to call us?
  • Would you like to view Mark’s calendar and book a meeting?

Episode 171: Unemployment, Post-COVID with Nicole Martin and Katie Cummins

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In this episode, we ask:

  • Are you unemployed?
  • Are you faced with challenges, as a business owner?
  • Who is Nicole Martin?
  • Who is Katie Cummins?
  • What about leadership?
  • What about shared leadership?
  • What ingredients do you have to put on the table?
  • What’s the state of our current employment landscape?
  • What’s the biggest competition?
  • What happened with the low wage jobs recently?
  • What about the other industry shifts?
  • What will the talent pool look like post-COVID?
  • What happens to the workplace?
  • How might we adjust?
  • What changes do we need to make?
  • What about furloughs and layoffs?
  • What about industries that need more staff than they can locate?
  • What about virtual work?
  • What about working in the office?
  • Will we go back to the way things were before?
  • What are some fun and creative things happening in this new normal?
  • What about fun family activities while working from home?
  • What about meeting pets and family members of coworkers for the first time?
  • How might we develop caring?
  • What about the Best and Brightest survey?
  • To whom might you reach out?
  • What does this crisis make possible?
  • What about a chaplain?
  • What about Zoom Bingo?
  • What about drink parties?
  • What about high performing businesses?
  • What are the four pillars of a high performing business?
  • What about shared core values?
  • What about everyone being a leader?
  • What about transcendent organizational value and purpose?
  • Have you ever just asked why?
  • What about performance excellence?
  • What about measuring indicators?
  • What about growth mindset?
  • How might we innovate?
  • What about trying something new?
  • Is now the time?
  • Are you a leader of the future?
  • Would you like to be in business for yourself but not by yourself?
  • Do you love what you do?
  • What does it look like to create your own path?
  • What about truth telling?
  • Would you like to apply to work with Mark and the Lake Growth team? bit.ly/worklg
  • What does HR Boost do for clients?
  • What about the free scorecard?
  • What are the takeaways?

Nicole Martin is Chief Empowerment Officer and Founder of HRBoost, LLC, a HR Shared Services consulting firm based in Chicago, Illinois. In recognition of her professional excellence as well as her community, Nicole has been honored by multiple organizations including most recently as one of Mirror Review’s 10 Game Changing Women in 2019. Awardee for Business Excellence by the Chicago Daily Herald, and a 2016 Enterprising Women of the Year Champion by Enterprising Women Magazine. A sought-after expert, her knowledge and advice have been featured in newspapers and magazines throughout the country. In addition, Nicole is the host online of HR in the Fast Lane and contributing writer for the Chicago Business Journal. Nicole has authored, International Literary Award and Amazon Best Seller, The Talent Emergency, the accompanying Talent Emergency Guidebook, The Human Side of Profitability, The Power of Joy & Purpose, and her newly released co-authored book No Fear Negotiation for Women. Nicole serves on a number of Boards dedicated to Human Capital, Culture and HR Excellence of which include Best & Brightest® Companies to Work For, Social Service in the community and Women in Business. To learn more about Nicole, go to www.hrboost.com or www.nicolemartin.live

 

Katie Cummins is a talented Human Resource professional and leader with experience across multiple industries and HR practices. She is an HR Consultant with HRBoost, LLC, an HR outsourcing and consulting firm. HRBoost believes every business deserves Strategic HR from day one and provides fully integrated HR outsourcing to HR projects and everything in between.

 

Episode 168: Robert Farrington, the College Investor

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In this episode, we ask:

  • What’s the number one thing in your financial life?
  • What is the moment that compounding can work for you?
  • Would you like to work with Mark? Learn more and apply at bit.ly/worklg
  • How much student debt is there?
  • How did Robert earn his first dollar?
  • How did Robert’s article get so many eyeballs?
  • What about student loan debt?
  • What’s Robert’s story?
  • What are the implications of student loans?
  • How did Robert get debt free?
  • What about increasing income?
  • Who knows how many they have?
  • Did you take out loans with your parents?
  • Did you take out loans with your kids?
  • What are Robert’s 30 ideas for passive income?
  • What repayment can you afford?
  • Should you kick the can down the road?
  • What will you do for the next five years?
  • Do you have a  system that works for you?
  • What are the odds of loan forgiveness?
  • What programs are available?
  • Are you into public service?
  • Can you get something for nothing?
  • What are the general rules of thumb?
  • What about refinancing?
  • What are the problems with Parent Plus loans?
  • What about family drama?
  • What about legal responsibility?
  • What are the rates now?
  • Should you be debt free before doing anything else?
  • What about the rate of return?
  • What about time?
  • Can you be this age again?
  • Would you like to visit thecollegeinvestor.com?
  • Would you like to learn more at loanbuddy.us?
  • What about consistency?
  • What about sticking with it?
  • What are the takeaways?
  • What about the volume of time?
  • What about refinancing student loan?
  • What about 529 plans for paying off student loan debt?
  • What are the takeaways?
  • Would you like to join us on Zoom, Tuesday, December 1?
    • When: Dec 1, 2020 02:00 PM Central Time (US and Canada)
    • Topic: Savings Smackdown – Save Now or Save Later
    • Register in advance for this webinar. After registering, you will receive a confirmation email containing information about joining the webinar.

Robert Farrington is a student loan debt expert and the founder of The College Investor. He has been helping people navigate student loans, investing, and wealth-building for over 10 years.

Episode 167: Don’t Worry, Retire Happy with Tom Hegna

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In this episode, we ask:

  • Who is Tom Hegna?
  • What was Tom taught at a young age?
  • What about savings?
  • What about a Math Party?
  • What’s the problem?
  • What needs to change?
  • What does retirement mean for Tom?
  • Are you getting any younger?
  • Can you take any of it with you?
  • What does Tom think about annuities?
  • What’s the stupidest thing someone can do?
  • What’s the difference between variable and fixed indexed annuities?
  • What about bonds?
  • What about income annuities?
  • What is retirement all about?
  • Is guaranteed lifetime income possible?
  • What about AUM (assets under management) fees?
  • What do the retirement studies say?
  • Do you have enough income for basic expenses in retirement?
  • Is there a substitute for guaranteed lifetime income?
  • Why do people rebel against the optimal?
  • What are Tom’s books?
  • What does AAA mean?
  • What does CCC mean?
  • What’s a mortality credit?
  • What else do you need to learn?
  • Would you like to work with us? See the job description here: http://bit.ly/worklg

Tom Hegna, CLU, ChFC, CASL, is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be THE Retirement Income Expert!.

As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature “Paychecks and Playchecks” retirement approach, helping Baby Boomers and seniors retire the “optimal” way. He has condensed a large chunk of his considerable knowledge into 5 books.

 

Episode 166: Sean Morrissey is Landlording for Life

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In this episode, we ask:

  • When was your moment?
  • Who is Sean Morrissey?
  • Have you heard the podcast Landlording for Life?
  • Who is Sean leading?
  • What about buy and hold real estate?
  • What is leading with lifestyle?
  • What does financial freedom mean for Sean?
  • What happened when banks lowered the line of credit?
  • What happened for four years?
  • What did Sean learn?
  • What does Sean do and what does liquidity do for Sean’s business?
  • How did Sean get started?
  • What is the value of liquidity?
  • What are the challenges for landlords right now?
  • What does the average guy or gal not realize about the need we have for access to capital?
  • Is it easy to buy?
  • What’s the weird position?
  • Are you liquid enough?
  • What about roughly 3% of capital expenditures and reserves?
  • What about roughly 5% for vacancy?
  • What about roughly 3% for a liquidity factor?
  • What about the “what if” game?
  • What about Mark’s meeting with Sean?
  • What surprised Sean?
  • What did Sean find?
  • Have you heard Episode 159 and Episode 160?
  • What did Sean learn?
  • What about universal life policies?
  • Are all mutual insurance companies good for Bank on Yourself® type policies?
  • Why does the contract matter on a life insurance policy?
  • What is a direct recognition loan provision?
  • What about non direct recognition company?
  • What’s an eye opener?
  • What are Sean’s hopes?
  • How does Sean plan to use his policies in sync with real estate?
  • What does Sean see, looking back?
  • How does Sean think big enough now?
  • Where do you want to be in 10 to 20 years?
  • When do we want our money most efficient?
  • What’s the power of a whole life insurance policy (especially the older ones)?
  • What about tax deductions and depreciation in real estate?
  • What about long range thinking?
  • What are the options down the road?
  • What’s the problem of real estate without whole life?
  • Would you like to work with Sean?
  • What is happening with evictions in Illinois?
  • What about liquidity?
  • What about setting sights too small?
  • How big can you think?
  • What about opportunities?
  • Want to work with us? We’re hiring. http://bit.ly/worklg

Sean Morrissey is a landlord and real estate broker, in the western suburbs of the Chicagoland area, who has built a $7M real estate portfolio and owns/manages Chicagoland Realty Group Partners LLC.

Having managed 200+ properties for landlords in the Chicagoland area, Sean has built property management systems to make “buy and hold” real estate sustainable and wealth-building.

Sean’s proudest achievement is being able to spend his days with his wife, two kids, dog and cat in what some may define a financial freedom lifestyle. Sean is the host of the real estate “buy and hold” real estate investor podcast called Landlording for Life.

Episode 165: Combining Bank on Yourself® with Profit First

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In this episode, we ask:

  • Would you like to work with us? Visit bit.ly/worklg
  • Is this your moment?
  • Would you like to learn how to combine the Bank on Yourself® strategy with Profit First?
  • Who are Brandon and Amanda Neely?
  • Can you build the wealth you really want?
  • What’s Amanda and Brandon’s story?
  • How many bank accounts do you need?
  • How much does an average bank account earn in interest?
  • How much does an average Bank on Yourself® type dividend paying whole life insurance policy earn?
  • What’s the story of Amanda’s client?
  • Who’s the boss?
  • How might you get the best results?
  • Are you financially set for life?
  • Who is taking unnecessary risk?
  • What’s the next step?
  • Who is in the banking business?
  • What makes business owners special?
  • How will Bank on Yourself® help you grow wealth?
  • What about the return of your capital?
  • What are the risks?
  • What about the options?
  • What are the benefits?
  • What about a volatility buffer?
  • Should you only do Bank on Yourself®?
  • What is Profit First?
  • What about debt?
  • What about paying cash for major purchases?
  • How might Bank on Yourself® help you to navigate the opportunity cost?
  • Are you in a W-2 job?
  • Will you run out of money?
  • Are you earning interest or paying interest?
  • Is all of your money tied up in a government sponsored 401(k)?
  • What about a diversified portfolio?
  • How might one break the paycheck-to-paycheck cycle?
  • What are the objections to Profit First?
  • Have you ever received a massive tax bill?
  • How does one pay the huge tax bill?
  • Will you find a way to be profitable?
  • Are you at least 1% profitable?
  • How do Bank on Yourself® and Profit First work together?
  • Do you give every dollar a job?
  • Would you like a copy of the spreadsheet? Email Mark at hello@nyafinancialpodcast.com
  • What are the steps for setting this up?
  • What could this mean for you?
  • Could this benefit you?
  • Do you need someone to help set up Profit First?
  • Do you need someone to help you set up Bank on Yourself®?
  • Would you like to schedule an intro call? The link is case-sensitive: bit.ly/BOYPF123
  • What’s your next best step?
  • What adjustments do you need to make?
  • What’s the death benefit?
  • Why are not-so-average strategies so important?

Profit First Chart

Profit First Chart

 

How Profit First works with Bank on Yourself®

 

 

Episode 157: I Love Leverage! I Love Liquidity! with Matt Shanlian

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In this episode, we ask:

  • What if some information changed the trajectory of your life?
  • What if you knew?
  • What about your family?
  • Who is Matt Shanlian, and what does he do everyday?
  • What is happening with this pandemic?
  • What happened with the mortgage marketplace?
  • What happened with Fannie and Freddie?
  • Are the lenders busy?
  • What’s happening with the rates?
  • What’s the outlook?
  • What about volatility?
  • What’s keeping rates really low?
  • Are we seeing a downturn in value?
  • Are families taking advantage of this time?
  • What about the next six months?
  • What are the opportunities?
  • Do you have equity?
  • When is the time to act?
  • Are we having all time low interest rates?
  • What is Matt’s philosophy around home equity?
  • When should we keep money in the drywall?
  • What is the difference between this year and last year?
  • Is this artificial?
  • How does proactive thought affect the decision to get a mortgage?
  • What cripples the American family?
  • What is the hamster wheel?
  • What’s the plan to get out of credit card debt?
  • How does this affect retirement and getting a mortgage?
  • How might we free up cash flow?
  • What about debt consolidation?
  • What is the game?
  • What’s the risk of a cash out refinance?
  • How much can you pull out with a cash out refi?
  • How does debt affect your financial picture?
  • What are the two things that will make one successful in business?
  • What about liquidity?
  • What about leverage?
  • What is the average American’s net worth at age 65?
  • What is a HECM loan?
  • How might we maximize cash flow?
  • What about the spend down time in retirement?
  • What about after peak income?
  • What is a reverse mortgage?
  • What happens at age 62?
  • Can you get a reverse mortgage if you’re a millionaire?
  • What is the stigma around reverse mortgage?
  • What are added protections for the borrower?
  • What is the required reverse mortgage counseling session?
  • What changed in the recent past around the reverse mortgage?
  • What about soliciting?
  • Did your grandparents have credit card debt?
  • What about an example?
  • Do you have to pay tax on an equity account?
  • What about the line of credit option?
  • Do kids want to inherit “this old house”?
  • What about the next generation?
  • What about probate?
  • What about first right of refusal?
  • How does home equity dance with Bank on Yourself® type life insurance policies?
  • What about safety?
  • What about liquidity?
  • What about leverage?
  • How is home equity built?
  • How might outside factors affect your equity?
  • Who has the control?
  • What do you have the ability to do?
  • Who makes the rules?
  • What is the safe place?
  • What is in the walls?
  • What erodes the value of a home?
  • What advice does Matt have?
  • Do you do an annual mortgage “check up”?
  • What opportunity presents itself?
  • What is your mindset?
  • What is your plan?
  • What might supercharge your financial outlook?
  • How might you be proactive (rather than reactive)?
  • How much wealth might you build?
  • What are the takeaways?
  • Does a cash out refi make sense?
  • Would you like to read Wade Pfau’s book?
  • Would you like to review your home equity numbers with Mark or one of Mark’s associates?
  • Would you like to join our mailing list?

Matthew Shanlian received his bachelor’s degree in finance from Liberty University before working full time in the mortgage industry starting in 2007. Matt began as a Loan officer assistant and has worked his way up to Division President with Primary Residential Mortgage, INC.  Matthew is a nationally recognized speaker, frequent podcast guest, and also serves on the board of directors for NIME, a non-profit , financial services education organization. These activities have helped him earn the achievement of being ranked by Mortgage Executive Magazine as a Top 1% Mortgage Originator in America. In his time away from the office, Matthew loves serving in his local church’s children’s ministry with his wife, Maria.  Together they have 3 children, Miles, Millie, and Maverick.

Episode 154: Invest Local! Private Money Lending with David C. Barnett

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In this episode, we ask:

  • Who is David C. Barnett?
  • How did David get into private money lending?
  • How does David look for deals that help improve the borrower’s business?
  • What’s David’s story?
  • What about doing financial deals?
  • What about commercial debt brokerage?
  • What did the limited power attorney allow David to learn?
  • Do we know what will happen in the future?
  • What about collateral?
  • What about Plan B?
  • What happens when things go south?
  • How do the wealthy stay wealthy?
  • What about the small deals?
  • What about doing a small deal with your own money?
  • What about the percentage?
  • What about selling the collateral piece if it doesn’t work out?
  • What about social, moral trust?
  • What about retail vs. wholesale investment?
  • What is a retail investment?
  • What does a bank do with a certificate of deposit?
  • What happens with the repo man?
  • How might you increase your rate of return?
  • Are these sort of deals the riskiest?
  • How do you build your network?
  • What about diversification?
  • What about risk and reward?
  • How do you find opportunities?
  • Should you put an ad out?
  • How do you connect with a club?
  • How do you build a network?
  • Where is the social angle?
  • How is a network self filtering?
  • What about credit reporting?
  • What are the advantages of a private deal?
  • Will it affect the borrower’s credit score?
  • What are the protections?
  • What about diversification?
  • What about the notes as an asset?
  • What about a rate with compound yield?
  • What happens if the zombie apocalypse happens?
  • What’s the worst case scenario?
  • What about Nassim Taleb’s barbell strategy?
  • What about the rattlesnake?
  • What about leverage strategies?
  • What about thinking about someone’s personal needs?
  • How might you benefit your borrower?
  • How might you collateralize?
  • What legal documents do you need?
  • How is personal property different from real estate?
  • What about the contracts?
  • Do you need to go in front of a judge?
  • If someone can’t make the payment, what’s likely happening?
  • What about a nuance in the language?
  • What’s a UCC filing?
  • What about creating a registration?
  • How do you choose which loans are worth it?
  • What are the rules in your state?
  • What is the limit on the interest you can charge?
  • What about consumption?
  • What about financing business needs or personal needs?
  • What are the circumstances that must exist for David to make a loan?
  • How does this increase cash flow?
  • How does this increase revenue?
  • How does this help them save money?
  • Why did David write this book?
  • Can you do deals on the side?
  • How much should you limit yourself?
  • How might you leverage deals with your knowledge and expertise?
  • Would you like to learn more at davidcbarnett.com?
  • Would you like to download his free book?
  • How might you invest in what you know?
  • Do you know your borrower?
  • Do you have liquid capital?
  • How might you be an ethical lender?
  • How might you provide a solution for those in need?
  • Would you like to leave us a review?
  • Send us a screenshot of your review to hello@nyafinancialpodcast.com, and we will send you a free book!

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David Barnett works with entrepreneurs around the world helping them to buy, sell and organize their small and medium sized businesses.

He’s the author of 8 titles on Amazon (Read David’s Books) and has been maintaining a YouTube channel (watch David on YouTube) covering these topics which has hundreds of videos.

 

Episode 153: Assisted Living Investing Strategies with Gene Guarino

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In this episode, we ask:

  • Who is Gene Guarino?
  • What is the Residential Assisted Living (RAL) Academy?
  • What is it about an idea that’s time has come?
  • What is the silver tsunami of seniors?
  • What about the boomers?
  • Have you experienced a family “event”?
  • What do parents want and need?
  • Who needs help with Activities of Daily Living?
  • Who wants to stay in a single family home instead of a large facility?
  • What about community?
  • What about a single family home that is too large?
  • What about care in the home?
  • Why is there an aversion to Long Term Care insurance?
  • What about running a business?
  • What are the costs?
  • What are the start up expenses?
  • What about the location?
  • What about finding an operator?
  • What about leasing?
  • What about 5 year lease contracts?
  • What is a giant advantage of liquidity?
  • How does Gene incorporate his family into his business?
  • How might you give your kids encouragement and empowerment?
  • How might you bring your kids along?
  • Would you like to download the book or watch the webinar at ral101.com?
  • What part are you going to play in the silver tsunami?
  • Would you like to live somewhere other than your own home if you need daily assistance?
  • What can a whole life insurance policy offer?
  • What is an accelerated death benefit rider?
  • How might this rider pay for care?
  • What about observation days?
  • What are the kids learning about leadership?

Gene Guarino is the founder of the Residential Assisted Living Academy. The RAL Academy is the premier source for education in owning, operating and investing in Residential Assisted Living and senior housing. Gene has trained thousands of people from across the country how to turn single family homes into cash flow machines.

RAL Academy’s motto is Do Good and Do Well. Gene has written 4 books and hosted 3 radio shows and has spoken in 5 countries and over 50 cities in the last year alone.