Income

Episode 121: A Strategy for RMDs

December 27, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

What is a Required Minimum Distribution (RMDs)?
What happened when you put your income into the deferred tax account?
How will the tax be paid?
When will the tax be paid?
What is built into the Internal Revenue Code?
When do Required Minimum Distributions become payable?
What about age 70.5?
What about age 59.5?
What is this magical 11 year time zone?
Do you own a qualified plan?
When you can you withdraw funds?
What about penalties?
Have you heard about the 70.5 deadline?
A 50% penalty?! 50%?!
When do you think taxes will be higher?
What happens if you pass away with a qualified plan?
What does your partner have to do?
Would you like an example?
How does one calculate an RMD?
What is your life expectancy?
What is the balance of the account?
Are RMDs taxed at ordinary income tax rates?
Is your spouse 10 years younger than you?
Will RMDs force you into a higher tax bracket?
Will RMDs raise your Medicare premiums?
What if you have assets inside of your qualified accounts?
Will you have to sell your stocks?
Will you have to sell your real estate?
Does the RMD care?
What happens if you live past your life expectancy?
What happens if you need it for long term care?
What about the 4% rule?
How successful is the 4% rule?
What about 2.8%?
What about 6.5%?
Has the government updated their formula to reflect these new findings?
Will most run out of money?
What is the new SECURE ACT in congress?
What are some ideas to consider?
Are you in your mid to late 50s?
How much do you have that will be exposed to ordinary income tax?
Would you like protection from required minimum distributions?
Are there multiple accounts that you would like to consolidate?
How might you leave a substantial legacy for your children?
What about a life insurance policy?
Are today’s tax rates historically low?
How much will you be forced to take out of your retirement accounts?
How could you leave your family far more than you ever saved?
Would you like to view some example numbers? Note: this is only an example. To see your exact numbers, please contact us.
How might we help you with an RMD strategy? Hop on our calendar for a FREE 15 minute Introduction Phone Call
Do you own a Bank on Yourself® type policy? Do you believe that Bank on Yourself is a scam? Leave us a message and let us know your experience!

Episode 119: Building Wealth That Leads to the Blissful Life with Moneeka Sawyer

December 13, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Do you remember what happened in 2008?
What did JAMA say about “Wealth Shock”?
Who is Moneeka Sawyer?
How does Moneeka manage a multimillion dollar business?
How does Moneeka choose bliss?
What did Moneeka experience as a very young person?
How did Moneeka breakthrough?
What did Moneeka learn from her dad?
Do you want “poor people money issues” or “rich people money issues”?
What was Moneeka’s prayer?
How did Moneeka’s coach affect her?
What is a “bliss mentor”?
What does Moneeka love about real estate?
What do we do each day to set ourselves up for strength?
What is bliss?
Can you handle anything that life sends your way?
What is emotional resilience?
What is your default emotional home?
What is the bliss equilibrium?
What are the techniques to get back to bliss?
How do we create deep joy and contentment?
What are the tools to come back to equilibrium?
What is blissful wealth?
How do we support joy in life?
How is wealth a part of our life and a part of who we are?
How do we get the ultimate goals of what we want?
Is there ever an end goal?
Where does bliss happen?
How does Moneeka help successful people come back to bliss?
How is money an amplifier?
What are your core values?
How do you align to those values?
How do you know what your values are?
Would you like to read Moneeka’s book, Choose Bliss: The Power and Practice of Joy and Contentment?
What is a bliss moment?
Have you ever stopped, dropped and breathed?
How does one make better decisions?
Would you like to listen to Moneeka’s podcast, Real Estate Investing for Women?
Would you like to download Moneeka’s story at blissfulinvestor.com?
Is Moneeka still dancing?
What questions do you have? Would you let us know on speak pipe?

Moneeka Sawyer is often described as one of the most blissful people you will ever meet. She has been investing in Real Estate for over 20 years, so has been through all the different cycles of the market. Still, she has turned $10,000 into over $2,000,000, working only 5-10 hours per MONTH with very little stress.

While building her multi-million dollar business, she has travelled to over 55 countries, dances every single day, supports causes that are important to her, and spends lots of time with her husband of over 20 years.

She is the international best-selling author of the multiple award-winning book “Choose Bliss: The Power and Practice of Joy and Contentment.”

She is the host of the Podcast Real Estate Investing for Women and her expertise, and bliss-filled laugh, have been featured on stages, radio, podcasts and TV stations including ABC, CBS, FOX, and the CW, impacting over 100 million people.

Episode 117: The Billionaire’s Secret – Is Giving The Key to Wealth?

November 29, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Is it better to give than to receive?
What drives us to help others?
Are we hard wired to be selfish?
Why do we take care of the most vulnerable?
How might we cooperate?
Are we only out for survival?
Why does it feel so good to help other people?
What happens to our brains when giving?
How does generosity affect our biology?
What is the basis for the joy of giving?
Are the wealthy full of wealth because they give?
What about the Bill and Melinda Gates Foundation?
How much have they donated?
How much have they donated this year?
How has Bill Gates’ personal net worth changed?
Does giving increase your wealth?
Do people give more when they earn more?
Does giving lead to an increase in wealth?
What is the connection between giving and wealth?
What is a charitable impulse?
What is the psychology of giving?
Does giving increase your happiness?
What about dopamine?
What strategies might relieve the stress of the holidays?
How can you increase happiness?
How might you increase productivity?
Will the next million matter as much?
What is the mental shift?
How might you build more wealth for others?
What lights the fire under you?
Are you chasing your net worth as a main target?
How will serving others help you toward your target?
How might your network increase?
How might your net worth increase?
How might you reach your potential?
How might you donate time?
How might you donate skills?
Would you like to give us a minute or two of your time and tell us how we’ve impacted you? Leave us a message here: www.speakpipe.com/nyafp
Would you like to GIVE us a review on iTunes?
Do you know how grateful we are for you?

Episode 112: Six Spooky Goblins In Your Money

October 25, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like a copy of Pamela Yellen’s latest book?
Schedule a Meeting with us!
What special announcement does Holly have to share?
Would you like more treats and less tricks?
What is the first goblin?
What does $135K in retirement accounts lead to in income?
Can you live on $600 a month?
What is leaving your wallet?
What is your volume of saving?
How is rate of return different from volume of saving?
What if you saved 10%? What if you save 30%?
Have you heard Episode 106?
Have you heard Episode 48?
What is goblin number two?
What are the out of pocket medical costs?
Will you have health care costs coming up in retirement?
Do you have half a million dollars ready for medical expenses?
Are you between 45 and 65 years old?
How much do you have set aside for healthcare in retirement?
Who has 1.4 million saved for retirement?
For retirement, do you have an income bucket?
For retirement, do you have a healthcare bucket?
What is goblin number three?
How much will you owe the I.R.S.?
How much is THEIRS?
Do you owe taxes on tax-postponed (a.k.a. tax-deferred) accounts?
How much do imagine you will be able to take in income on these accounts?
Are you confident in your pre-tax income?
Does anyone know what your tax bracket will be in the future?
Has congress got around to voting on how much they will charge in taxes when you’re in retirement?
What is goblin number four?
What about Social Security benefits?
Will Social Security be part of your income?
Is your purchasing power shriveling up?
Do you depend on Social Security?
What is goblin number five?
What about equity mutual funds?
Who beats inflation?
Does the stock market do an average double-digit return?
Who knows what’s happening in the market?
Who’s beating inflation?
What’s happening now?
Who is behind the market?
How do reactionary impulses affect the market?
What about goblin number six?
Do you have a 50/50 chance of running out of money in retirement?
Do you follow the 4% withdrawal rule in retirement?
What does this mean?
How does this impact our financial lives?
What can we actually take away with this?
How might we fight back against our fears?
Will you prioritize your own capital?
When will you start saving?
Did you go trick or treat in packs or groups?
When did you last review your account fees?
Do you believe you know all of the fees?
What are your 401(k) fees?
Have you looked at the FINRA fund analyzer?
Would a single visit to the doctor ruin your financial life?
Would you like to call us at 1-800-962-9141?
Do you have a flashlight?
What kind of contracts can help you get through the end of the corn maze of life?

Episode 111: Should I Do a Bank On Yourself® type Whole Life Insurance Policy or a Roth IRA?

October 18, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

What has Amanda learned as a sample of one?
Who are Brandon and Amanda Neely?
What is Mark’s relationship with Brandon and Amanda?
If we did something different, what would the results be?
Would you like to follow along with the numbers? (See tables below)
Would you like to watch this in video?
What are Amanda’s numbers?
Are agent commissions too high?
What would the assets under management fee be?
What would the term insurance commission be?
What happened in 2008?
How much more would the investment advisor make?
Why is there a Wolf of Wall Street but no “wolf of insurance”?
What happens if you need or want your money prior to age 59.5?
What would your heirs receive when you pass?
What taxes would your heirs pay?
What are the tax considerations when you start using the money?
What happens if you get cancer or some other chronic or terminal illness?
What happens if you get sued?
What happens if you die too young?
What happens if you die too old?
What happens if the stock market goes down when you’re 36? How about when you’re 60?
Which side has guarantees?
Is the amount going in each year flexible?
What if you wanted to put in more? Or less?
What are the tax consequences now?
What are the tax considerations before you’re 59.5?
How many life insurance policies does the Neely family own?
How does the Neely family use their policies?
How can you use these specific policies to more effectively pay taxes?
Have you seen the webinar on Episode 84 The Past, Present and Future of Paying Your Taxes?
Have you heard Episode 87, How to Get Wealthy While Paying Your Taxes?
What income could this 35 yo female expect?
What is the life expectancy?
What is the difference between the term / Roth IRA and the Life Insurance policy?
How much does the fee on the Roth IRA become?
What about an older person’s strategy?
Have you heard Episode 91, Great Problems, Giant Piles of Cash?
How are mutual life insurance companies dealing with the low interest rate environment?
How do policy loans at 5% interest affect the insurance company’s performance?
When is the increase always greater than cost?
Would you like Brandon or Amanda to run this comparison for you with your numbers
Schedule a Comparison conversation with Brandon or Amanda

Episode 107: Adventures in Financial Planning with Tim Austin, Part 2

September 20, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

What are the four categories?
Have you taken an inventory of your life?
What are the potential places to improve?
Are you taking advantage of all opportunities in tax savings?
What can you do to control your cash flow on a monthly basis toward how you’re paying off debt?
Can you consolidate debt?
How can you shift that to savings?
What can we do to create financial independence in our lifestyle?
Are you inappropriately putting too much money in risk assets that aren’t really serving you well?
What are the steps?
How might you take inventory of your current allocations?
How might you accept where you are?
How might you take small baby steps?
What does one percent daily improvement do over the course of a year?
Does saving in a whole life insurance products mean sacrificing returns?
What does the word risk mean?
What do markets do?
Are we in a boom right now?
When was the last bust?
Do you invest when the market is low?
What happened in 2005?
Why do we buy high?
How has Tim’s net worth reached a new high every single day?
What did Tim do with his brother?
What is a buy-sell policy?
What did Tim do in 2019?
What advantages does Tim have?
When did speculation start to take hold in our culture?
What were the rich people doing in the 60s?
Do you have a realistic expectation of the 401(k)?
Will the market do the 12% every year?
Is your home your best asset?
Is your home paid off?
Do we need to live in bigger homes?
Should we buy lattes four times a week?
Why does Tim pay a trainer four times a week?
Who can help you?

Tim Austin is President and Founder of SET for Advisors, a leading training organization for financial advisors who want to help their clients grow wealth predictably and without taking unnecessary risk.

He is also the co-founder and director of the Bank On Yourself authorized advisor whole life insurance concept along with best-selling author Pamela Yellen who wrote the book Bank On Yourself: The Life-Changing Secret to Growing and Protecting Your Financial Future.

Bank On Yourself is a major best seller, hitting #1 on the USA Today and Amazon best-seller lists, and is also a New York Times, Wall Street Journal and Publishers Weekly #1 best seller.Tim makes his home in Clarkston, Michigan with his wife and three children. Tim likes to test the limits of his physical ability and mental toughness participating in Half Iron Man Triathlons and marathons.

Episode 106: Adventures in Financial Planning with Tim Austin, Part 1

September 13, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Who is Tim Austin?
When did Tim start learning about money?
When did Tim become a financial advisor?
What did Tim learn from his dad?
What did Tim learn from his grandmother?
What did Tim have to tell his grandmother?
What is the 10/10/10 rule?
What are orphan clients?
What did the orphan clients teach Tim about life insurance?
How did the orphan clients save money?
What are your liquid assets?
Are you living within your means?
What is financial independence?
How much are Americans saving today?
What is the difference between an asset and a liability?
What if someone can’t save 30% of their income?
What is the average debt ratio today?
What kind of debt?
What about an inventory?
Can you accept where you’re at?
Can you start making small, incremental improvements?
Where are all of the dollars going?
How many dollars are going to taxes?
How many dollars are going to debt?
Are you sacrificing your rate of return?
What will Tim share in next week’s Part 2 episode?
What are Mark and Holly’s takeaways?

Episode 104: The Family is Your Greatest Asset, Part 1

August 30, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to join us LIVE on Saturday, September 7, 2019 at 1PM-2PM Central Time? Register Now!
Is it best to Buy Term and Invest the Rest?
Would you like to fill out our feedback survey?
What is the greatest asset in your portfolio?
How has your family structure changed over the years?
Did you inherent your family business?
Has the business of family mostly disappeared?
Do we have a connection with our past?
Will your family have a guaranteed legacy?
Do you plan with your family?
What do rich families do that others don’t do?
How do you invest in your family?
What are the rules for the family asset concept?
How can you use the least amount of money to create the greatest amount of wealth?
Can you guarantee that wealth will occur and that it will transfer to the family tax free?
Do you think like a rich person?
Do you think like a poor person?
Would you like to create wealth for your family if you didn’t have to spend one more dime than you are spending right now?
How might you realign your assets to create more control over your money?
What is true wealth?
What about control in business?
Do you know it’s a great investment?
What about control in stock?
What about control in family business?
What are the elements that affect legacies?
What happens when one follows the traditional recommended plans?
What about the 401(k)?
What about the IRA?
What about the I.R.S.?
Are you leaving the I.R.S. a tip?
What about leverage?
What might be a perfect solution for wealth creation?
What about the perspective of the elder parent?
What about the perspective of the adult children?
What is a family asset system?
How many dreams have you had that have actually come to fruition in your life?
Is it possible to leave more money than you could ever save?
What is Mark’s story as a son?
What did Mark’s mom do?
What are the guarantees?
Do you want to add to an inheritance for your kids without paying anything?
Are you stressed by the market?
Are you paying fees?
What would you bet on?
Would you like to discuss the family asset concept with your family?
Would you like to join us next episode for Part 2?

Join us LIVE on Saturday, September 7, 2019 at 1PM-2PM CT

Register Now!

Episode 94: Krisstina Wise, Millionaire Money Coach

June 21, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

What is Krisstina Wise’s story?
What did Krisstina learn from Real Estate?
Is there a ceiling to income?
What happens when people make a lot of income but are consistently broke?
What is more fun that making money?
What did Krisstina learn from a medical emergency?
What is Krisstina’s philosophy of money?
What frameworks does Krisstina embrace?
What is earning?
What is saving?
What is investing?
How are each of these areas similar to the systems of the body?
What is the source of a “money illness”?
What is “the money trap”?
How do we build true wealth?
How do we become the CFO of our household?
What is the distinction between earning and wealth building?
Where do we build a balance sheet?
How much money is enough?
What is the mindset?
Is more better?
Do we spend too much?
How do we cultivate an abundance mindset, mentality and lifestyle?
What are the money laws and principles that are associated with abundance?
What is Parkinson’s law?
How do we build wealth?
What is the skill set of spending?
What’s another word for future spending?
What are living expenses?
How do we stay on track?
How do we integrate the choices we make on spending?
How much goes to interest?
How do we exercise our money?
How do we honor ourselves?
What’s the difference between restriction and choice?
What are the rules of money?
How does money affect health?
How is mastering money a skill set?
Where can you learn more about Krisstina’s book?
Have you seen Krisstina’s video on Money Mastery Training?
Would you like to read Krisstina’s book, Falling For Money?

Krisstina Wise is a real estate mogul, Millionaire Coach, and creator of several multi-million dollar businesses including Goodlife Luxury, The Paperless Agent and most recently, WealthyWellthy. She is also an international speaker and the award-winning author of the Amazon Best-Seller Falling for Money, a romance novel for your bank account. Named one of the 100 Most Influential Real Estate Leaders in the country, she has been featured in USA TODAY, as well as by Apple, Contactually and Evernote for her creative leadership with emerging technologies.

Episode 93: [Great Problems] Can I Put A Lump Sum into A Policy? Part 2

June 14, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Do you have giant piles of cash?
What are the six circumstances?
Did you listen to Part 1, Episode 92?
What is the answer to last episodes cliffhanger, the third unique way?
What is a single premium policy that allows you to add more money after the initial premium?
What if you’re dealing with a one time lump sum?
What do traditionally designed single premium whole life insurance policies allow?
What is a hybrid example?
How are Bank on Yourself authorized advisors influencing the insurance industry?
What did the insurance companies ask?
What happened?
What are the situations where using a Bank on Yourself policy for a lump sum makes sense?
Are you interested in a capital fund for real estate or business?
Do you need a holding place for future lump sums?
Do you have a need to pay for college?
What is a combo rider and how does it work?
What does a combo rider do?
Would you like the flexibility to put in a lump sum at irregular intervals?
What is the house analogy?
What is ART or Annual Renewable Term?
What is an ART rider?
How does the combo rider behave like universal life (UL)?
How is the risk much lower with a combo rider vs. a risky UL?
How can you get rid of the term rider within a combo rider?
What happens when you move the term rider into permanent insurance?
What happens when you know you won’t be getting additional windfalls? Can you drop the combo rider?
How can you move money into a policy right away?
How can you plan for expected windfalls?
How is this policy like a gas tank in a car?
How can you lock in your insurability?
How might you create a space to pour in cash?
How might you fund a college education without depleting or jeopardizing retirement funds?
What are the common vehicles for college funding?
Have you heard Episode 27?
What happens when you lock money into a qualified 529 plan?
How are Bank on Yourself type policies more flexible than a 529 plan?
What are some cool motivational incentives to get your kids to apply for a full ride?
What are all of the advantages?
Why does the government penalize parents that have saved for retirement and college?
Why does the government want you to be as poor as possible on paper to qualify for college funding advantages?
What can permanently give you an income that you can’t outlive?
What is the takeaway?
Are you working with an advisor who understands the nuances of these strategies?

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