Income

Episode 184: Rewirement and Risks to Retiring in 2021 with Jamie Hopkins

March 12, 2021 by Not Your Average Financial Podcast

In this episode, we ask:

Have you ever seen the show, American Ninja Warrior?
What about a finite amount of cash?
Who is Jamie Hopkins?
What are some of Jamie’s earliest experiences with money?
What about the risks of retirement?
What about Jamie’s new book, Rewirement?
What about longevity?
What about the unknown time horizon?
What about deflation?
What about public policy risk?
What about unexpected financial responsibility?
What about a parent’s long term care needs?
What if your career is shorter than your retirement?
What does Jamie see in his crystal ball?
What is the giant societal experiment?
What about the 401(k)s?
What about the standard of living adjustments?
What about cutting back?
What about reliance on certain systems?
What about the social security fund report?
How does this influence policy?
What about social security?
What percentage of retiree’s income typically comes from social security?
Will the funds be depleted?
What about Biden’s proposals?
What is our single biggest funding program?
When was the last time social security was updated?
What about the assumptions?
What has happened to interest rates in the last 40 years?
How does this change behavior?
What changes in the macroeconomic assumptions?
What about a tax proposal?
What about inflation?
How does living on a fixed income work?
What about the infrastructure and legal system in the U.S.?
What about protections?
What about strategies?
What about contract law?
Does Jamie sell products?
What about fixed indexed annuities?
What about creating lifetime income?
What about fixed income?
What about bond laddering?
What about life insurance?
What about forced or automatic savings?
What about a death benefit?
What about tax diversification?
Could laws change?
Where will public policy go?
How might one public policy change affect your strategy?
Are tax rates going up?
Have you read the Power of Zero?
Do you act in accordance with your beliefs?
What about diversifying risk?
What do most people believe today?
What happened between 2010 and 2020?
Where can you follow Jamie?
What do you want to accomplish?
What are the takeaways?

Jamie Hopkins, Esq., LLM, MBA, CFP®, RICP® is the managing director of Carson Coaching and the Director of Retirement Research for Carson Group. He is a finance professor of practice at Creighton University’s Heider College of Business and is the author of the book Rewirement: Rewiring The Way You Think About Retirement Planning. Jamie helped co-create the Retirement Income Certified Professional (RICP®) designation at The American College of Financial Services. He was named as a top 40 young attorney by the American Bar Association and a top 40 financial service professional under the age of 40 by InvestmentNews. In 2020, his work on retirement planning and the SECURE Act won an award from WealthManagement.com for being the best Thought Leadership Advisor Education in the industry. You can contact him at www.jamiehopkins.com or follow him on twitter @retirementRisks.

Episode 182: The Mindset of a Real Estate Investor with Steve Rozenberg

February 26, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

Who is Steve Rozenberg?
What was dinner like for Steve growing up?
What changed for Steve around 9/11?
What about real estate?
What did Steve learn?
What about property management?
What about mindset and real estate investing?
What’s happening to the airlines?
Who owns the airplanes?
What happens when the planes are parked?
What about job security?
Why did Steve get into real estate?
What happened in the last 20 years?
What about taking focused and intentional action?
What is Steve seeing among pilots?
What are all of the ways one can make money on real estate?
What are the pros and cons of real estate?
What about making mistakes in real estate?
What about choices?
What is the mindset of a real estate investor?
What is the goal?
Why get into real estate?
What is the difference?
Why are some successful?
What are the desired results?
What about just being busy?
What about including the spouse and kids?
What is the employee mindset?
What is the entrepreneurial mindset?
What is the real estate investor mindset?
Why is it important to stop and think about your “why”?
What are the odds?
Is a rental property technically a business?
What does one need for a business to succeed?
Who has a business plan for their rental properties?
What is the best piece of advice Steve has received?
What about plateaus?
Will you stay the same, decline or improve?
What about universal atrophy?
What about the mindset?
What about the strategies?
What about buy and hold properties?
What about ego in a deal?
Does this property align with your goals or does it not?
Does the property align with your strategy?
Is this taking me closer to my goal?
Where is real estate headed?
What do you need to do to prepare?
What is Mynd property management?
Would you like to visit steverozenberg.com?
Would you like to subscribe to the YouTube channel?

Steve Rozenberg is the Vice President of Education for Mynd where he educates investors about the benefits of small residential investing.

Rozenberg is a member of both the Houston and Fort Worth/Mid-Cities chapters of NARPM, and is a licensed Texas real estate agent.

Rozenberg is an international commercial airline pilot who turned to real estate investing after 9/11 changed his life. Rozenberg has fixed-and-flipped hundreds of properties in the Houston metro, before co-owning the leading residential property management firm in Houston and DFW.

Throughout his 15-year career in real estate, Rozenberg has hosted several radio talk shows, appeared on a number of real estate investing podcasts, webinars, and masterminds.

Episode 176: Annuities vs. Everything Else

January 15, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

What are people saying about annuities?
What about supplemental income strategies for retirement?
Should alternative income strategies be used in retirement?
What about rental income?
What about rental income in a pandemic?
Is your rental property your annuity?
How is this working out?
What about Moody’s analytics?
How many renters are behind on rent?
What about mom and pop landlords?
What are squatter’s rights?
What about contract law?
What about laddered bonds?
What about taxes?
Have you heard Episode 138?
What about MUNI bonds?
What did Barron’s say?
What did Mark see at the Oriental Museum?
What about liquidity?
What is a Single Premium Immediate Annuity (a SPIA)?
What about inflation?
What about the Mack Truck factor?
What have the insurers done with the annuity gotchas?
What is the fixed indexed annuity?
Have you heard Episode 80?
What about income?
What about a steady stream of income in retirement?
How does one fund an annuity?
What are the choices?
What are the tradeoffs?
What are the protections?
What about qualified and non qualified plans?
How does a fixed annuity address the liquidity problem?
Who has the cash?
What is an idea for liquidity?
What about the inflation problem?
Can you lose money due to market fluctuations?
What about the participation rate?
What about an inflation protection hedge?
What about competitive market returns without loss?
What about increasing income in retirement?
What about a pay raise in retirement?
What about a guaranteed minimum income for life?
What about the insurers addressing the Mack Truck factor?
What about gifting the unspent lump sum to your beneficiaries?
What about nursing home care?
What about double income payments in a qualified care facility?
Do you have a bond that can do that?
Do you have a rental property that can do that?
What are the benefits of the indexed annuity?
What are the downsides?
What are the risks?
Who is an indexed annuity good for?
What about medium and long term savings goals?
What about short term goals?
What do you want your money to do for you?
Who are indexed annuities NOT good for?
What about surrender charges?
What about liquidity?
Would you like to meet with Mark?
What about looking at your Social Security benefits online?
Do you have a plan for long term care?
Do you have a plan for your home equity?
How might your home equity support you in retirement?
Do you still need to buy stuff?
Would you like to join the Not Your Average Financial Community?

Episode 175: Five Surprising Benefits of Lifetime Income

January 8, 2021 by Not Your Average Financial Podcast

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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

December 25, 2020 by Not Your Average Financial Podcast

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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

December 11, 2020 by Not Your Average Financial Podcast

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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

November 20, 2020 by Not Your Average Financial Podcast

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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

November 13, 2020 by Not Your Average Financial Podcast

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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

November 6, 2020 by Not Your Average Financial Podcast

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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

October 30, 2020 by Not Your Average Financial Podcast

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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

How Profit First works with Bank on Yourself®

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