Not Your Average Financial Podcast™

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

Episode 312: The Dangerous Fine Print of Indexed Universal Life Insurance with Lester Himel

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In this episode, we ask:

  • Would you like to join like-minded individuals on the journey? Join us for the FREE! Not Your Average Financial Summit on the afternoons of September 6 and 7, 2023? Register here!
  • How about a story?
  • Would you like to hear more?
  • Would you like to hear previous episodes with Lester Himel?
  • How did Les learn about the risks of universal life insurance (UL), indexed universal life insurance (IUL) and variable universal life insurance (VUL)?
  • What about the GIC?
  • What happened in 1985?
  • What did Les learn?
  • Can you always get 10% in the stock market?
  • What is AG49?
  • What is AG49A?
  • What is AG49B?
  • What is actuarial guidance?
  • What about a hypothetical straight line example?
  • What about signing the HR clipboard or binder, wherever you find a tab?
  • When will the market go down?
  • Did you hear last week’s episode, Episode 311?
  • Will you wait?
  • Is volatility ever your friend?
  • Does the market go in a straight line?
  • What is an illustration?
  • What did the AG49 rules do to the illustrations and projections for universal life insurance?
  • What about bonuses, buildups and multipliers?
  • Is straight line a joke?
  • Are the projections of universal life too rosy?
  • What about whole life insurance straight line illustrations?
  • What is the business model for whole life insurance carriers?
  • What about dividends?
  • What about consistency?
  • What is the variability inside of a whole life insurance policy?
  • What is happening with higher interest rates?
  • What about guarantees?
  • What group comes to see Les?
  • What’s the joke?
  • Do you have to think about volatility?
  • What about IUL, UL, VUL?
  • What about the zeros?
  • What about the increasing cost of insurance year after year?
  • Will that IUL, UL or VUL lapse?
  • Will you be able to live on this in retirement?
  • What is gold?
  • Would you like to read Lester’s blog?
  • Have you heard Episode 311 yet?
  • Who refuses to sell universal life products?
  • Do these products have unnecessary risks?

Join us this year, as we explore
the roots behind what we’re inheriting
and how we can navigate in the future.

Who: You! + Amazing Speakers, Authors and Industry Leaders
What: The 3rd Annual Not Your Average Financial Summit
When: September 6-7, 2023; 1PM to 4:30PM CT both days
(Please adjust for your timezone.)
Where: Virtual
How: REGISTER HERE!

Lester N. Himel discovered the use of specific types of Life Insurance to enhance and expand the performance of investment portfolios several years ago; this after spending 28 years in a variety of positions on Wall Street. Like most financial professionals, he considered stocks, bonds and similar instruments as the core of a reasonable investment approach. In those last several years, Les has found the better way. Les comes to this field with a very broad financial background. He started as a compliance officer, worked in administration, was an institutional bond trader, developed an Emerging Markets business, and was also involved with “alternative investments”. Les prefers low risk and “guarantees”, and has an ability to simplify explanations of what, why and how. Contact Les at heiratlas.com.

Episode 311: The Troublesome Cost Time-bomb of Universal Life Insurance with Lester Himel

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In this episode, we ask:

  • Would you like to join us for the FREE! Not Your Average Financial Summit on the afternoons of September 6 and 7, 2023? Register here!
  • Would you like to travel back in time with us?
  • Do you remember the TULIP bubble?
  • What about FOMO (fear of missing out)?
  • What about herd behavior?
  • What about the psychological tricks?
  • What is anchoring?
  • What about information bias?
  • What about filtering out what we don’t want to hear?
  • What about selective listening?
  • Who is Les Himel?
  • What about universal life insurance?
  • Would you like to hear Episode 52, Episode 53, Episode 264 and Episode 265?
  • What about a little arithmetic?
  • Where is the 5% average rate of return?
  • The return was 10%… well, was it?
  • What does one need to pivot on?
  • …50% of what?
  • What is volatility?
  • Would you like to learn more from Les at 82financial.com?
  • What about universal life insurance?
  • What about the index?
  • Why does Les not want to sell universal life insurance (UL)?
  • What happened in 1978?
  • What was the original product design?
  • What becomes more expensive?
  • Is term insurance actually cheap?
  • What is the true cost?
  • What is the crediting rate?
  • What about the cost of insurance?
  • What happens then?
  • What does the insurance company reserve the right to do?
  • Who has received a dreaded UL letter?
  • What about an analogy?
  • How is universal life insurance DIFFERENT from whole life insurance?
  • What’s the likelihood of dying at age 85?
  • Will you lose money?
  • Is it possible to execute a 1035 exchange with UL to whole life?
  • What is the lapse rate of UL?
  • What does it mean?
  • Can you pay UL for a limited number of years?
  • Are you on the hook to pay premiums for life in a UL?
  • What type of life insurance is front loaded?
  • What type of life insurance is back loaded?
  • Who has been mislead?
  • What about the recent regulations?
  • What are the key takeaways?
  • Is all that glitters gold?
  • Would you get in that airplane?
  • Is this another tulip bulb mania?
  • What is the source?
  • What obligation do they have to you?
  • What is their credibility?
  • Are you being influenced by emotions or bias?
  • Are you seeking objective feedback?

Join us this year, as we explore
the roots behind what we’re inheriting
and how we can navigate in the future.

Who: You! + Amazing Speakers, Authors and Industry Leaders
What: The 3rd Annual Not Your Average Financial Summit
When: September 6-7, 2023; 1PM to 4:30PM CT both days
(Please adjust for your timezone.)
Where: Virtual
How: REGISTER HERE!

Lester N. Himel discovered the use of specific types of Life Insurance to enhance and expand the performance of investment portfolios several years ago; this after spending 28 years in a variety of positions on Wall Street. Like most financial professionals, he considered stocks, bonds and similar instruments as the core of a reasonable investment approach. In those last several years, Les has found the better way. Les comes to this field with a very broad financial background. He started as a compliance officer, worked in administration, was an institutional bond trader, developed an Emerging Markets business, and was also involved with “alternative investments”. Les prefers low risk and “guarantees”, and has an ability to simplify explanations of what, why and how. Contact Les at heiratlas.com.

Episode 265: How to Get True Uninterrupted Compound Growth with Lester Himel

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In this episode, we ask:

  • Is there truly nowhere to hide? Would you like to join us THIS WEEKEND for the FREE Not Your Average Financial Summit in the afternoons on Friday, September 30 and Saturday, October 1, 2022? Login or Join the FREE membership community to Reserve Your Spot!
  • Would you like to hear Part 1 of my interview with Les in Episode 264?
  • Would you like to hear more from Les on Episode 52 and Episode 53?
  • What about compound growth?
  • Who understands the (uninterrupted) exponential function?
  • When I’m 75, 85, 95 years old… how am I paying my bills?
  • What is the 4% rule?
  • Is it 2.8% now?
  • Did your guru disappear?
  • How do Bank on Yourself® type whole life insurance policies develop compound growth?
  • What is a paid up addition (PUA)?
  • Why do I need the extra life insurance?
  • What buys paid up additions (PUAs)?
  • Who wants to participate?
  • Is that oak tree dropping acorns?
  • How are paid up additions like acorns?
  • What about the dividends?
  • What about guarantees?
  • What about solid results and simplicity?
  • Would you like to visit heiratlas.com?
  • What are the stages?
  • What is accumulation?
  • What is stabilizing?
  • What is distributing?
  • What provides actual compounding and consistency?
  • Is there a world where you can ignore the stock market?
  • We’d love to have you join us TODAY for the FREE Not Your Average Financial Summit!

Lester N. Himel discovered the use of specific types of Life Insurance to enhance and expand the performance of investment portfolios several years ago; this after spending 28 years in a variety of positions on Wall Street. Like most financial professionals, he considered stocks, bonds and similar instruments as the core of a reasonable investment approach. In those last several years, Les has found the better way. Les comes to this field with a very broad financial background. He started as a compliance officer, worked in administration, was an institutional bond trader, developed an Emerging Markets business, and was also involved with “alternative investments”. Les prefers low risk and “guarantees”, and has an ability to simplify explanations of what, why and how. Contact Les at heiratlas.com.

Episode 264: What Will You Do When You’re 82? with Lester Himel

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In this episode, we ask:

  • Would you like to join us for the FREE Not Your Average Financial Summit in the afternoons on Friday, September 30 and Saturday, October 1, 2022?
    Login or Join the FREE membership community to Reserve Your Spot!
  • Who is Lester Him?
  • Would you like to hear Part 1 of this interview today?
  • Would you like to hear Episode 52 and Episode 53?
  • What about volatility?
  • Should we be using the standard vehicles?
  • What did Les find?
  • What happened with the S&P?
  • Why such a big difference?
  • Are the results fact or fiction?
  • What about stocks, bonds and mutual funds?
  • According to the U.S. Census Data, what is the average net worth of an American over age 65? What is their income? How long will that last? Is this what they expected?
  • What has the stock market done over the years?
  • How has volatility affected the results?
  • How is the income in your working years like a shield?
  • What happens when the working income is gone?
  • Who is in the have nots and who is in the have yachts?
  • What is the difference in the word return vs. the word change?
  • What are the gurus paid to do?
  • What is the definition of compound growth?
  • Does the stock market give compound growth?
  • Does the bond market give compound growth?
  • What’s the difference between growth and compound growth?
  • How is compound growth like acorns coming off an oak tree?
  • Do bonds and mutual funds compound?
  • What is yield to maturity (YTM)?
  • What about simple interest?
  • What about making a distinction?
  • Do you have the capacity to do the work?
  • What are the two catches?
  • What did Albert Einstein say?
  • Would you like to join us for Part 2 of this interview next week?

Lester N. Himel discovered the use of specific types of Life Insurance to enhance and expand the performance of investment portfolios several years ago; this after spending 28 years in a variety of positions on Wall Street. Like most financial professionals, he considered stocks, bonds and similar instruments as the core of a reasonable investment approach. In those last several years, Les has found the better way. Les comes to this field with a very broad financial background. He started as a compliance officer, worked in administration, was an institutional bond trader, developed an Emerging Markets business, and was also involved with “alternative investments”. Les prefers low risk and “guarantees”, and has an ability to simplify explanations of what, why and how. Contact Les at heiratlas.com.

Episode 53: A New Perspective with Les Himel (Part 2)

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In this episode, we ask:

  • If compounding stumbles, do we gain or do we lose?
  • What troubles has Les Himel experienced with Wall Street?
  • What is macrodiversification?
  • What is microdiversification?
  • What about mutual funds?
  • What about bonds?
  • What about stocks?
  • How do we improve on a portfolio?
  • How do we turn our portfolio into a business model instead of Wall Street model?
  • What is 7702 of the tax code and why is it important?
  • How do you minimize volatility?
  • How does minimizing volatility benefit compounding?
  • What is the fabric of our society?
  • How is life insurance regulated?
  • What are the important specifics?
  • How does an insurer participate in the market?
  • What is the dividend pool? How is calculated?
  • What is the type of tax-free growth that Les has seen in the last 20-30 years?
  • What is the cumulative rate of return on the S&P? How does this affect results?
  • What should be the core of a portfolio?
  • How can you know what the reasonable outcome will be as you age?
  • What are you going to do to become wealthy? How can you make sure?
  • How does money affect sleep?
  • What are the three major ages in our life?
  • What are some typical pitfalls at each stage?
  • If we have a 401(k), what happens to our family if we die?
  • What are the takeaways?

Lester N. Himel discovered the use of specific types of Life Insurance to enhance and expand the performance of investment portfolios several years ago; this after spending 28 years in a variety of positions on Wall Street. Like most financial professionals, he considered stocks, bonds and similar instruments as the core of a reasonable investment approach. In those last several years, Les has found the better way.

Les comes to this field with a very broad financial background. He started as a compliance officer, worked in administration, was an institutional bond trader, developed an Emerging Markets business, and was also involved with “alternative investments”. Now, as one of only 200 Bank on Yourself authorized advisors, and with his ability to integrate far-reaching insights, he guides clients to financial success. Les prefers low risk and “guarantees”, and has an ability to simplify explanations of what, why and how. Les has achieved various FINRA registrations, and is a Chartered Financial Consultant (ChFC).
Lester resides in Westchester County, New York with his family and stays very busy working with clients across the country.

 

Episode 52: A New Perspective with Les Himel (Part 1)

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In this episode, we ask:

    • What has Les Himel learned in his 28 years on Wall Street?
    • What are the myths of standard conventional wisdom?
    • What are the rules of thumb we should always be able to rely on?
    • Can you get 10% or more per year in the market?
    • How much lower will taxes go?
    • What was the highest marginal tax rate in recent history?
    • How does anyone pay over 90% in taxes?
    • What happens when you go up in scale on your income?
    • Will you be in a different tax bracket in the future?
    • Are you looking at your finances in a 1 or 2 year time frame or in a 30, 40, 50 year time frame?
    • What are the realities of the stock market?
    • What is a cumulative rate of return?
    • How much was the cumulative rate of return on the DOW from 1900-1980?
    • What about 1980-2000? Why does Les call this time the “roaring 20”?
    • What happened on Black Monday?
    • What was the average climb during the 1980-2000 period?
    • What’s the story with the 401(k) in the 80s?
    • What are arithmetic averages?
    • What is a return?
    • What is the difference between a return and a change?
    • When do you truly receive a return?
    • Does your investment advisor take fees and taxes into account when they present an update to you?
    • How does volatility affect your future?
    • What’s the difference between an average and real dollars?
    • How can you calculate the change of how much you’ve really made or lost?
    • If you take the Standard and Poor’s Index (the S&P) from December 31, 2000 until the changes of December 31, 2016, what happened with volatility, and what was the average rate of return?
    • How do investment advisors anticipate the future earnings?
    • Do stocks perform in a straight line?
    • How can the cumulative rate of return help make sense of actual performance?
    • How can you check your math?
    • How does the math of the rate of return vs. the cumulative rate of return affect you?
    • Are you willingly putting up with the volatility, the fees and taxes for a whopping 3.35% return?
    • How does this affect pension funds and 401(k)s?
    • What is the reality?
    • What’s the difference between what we think we know and what we actually see?
    • When you look at the math, what do you come up with?
    • Do you have time to make it up?
    • Is compounding flexible?
    • Why does volatility destroy compounding?
    • Do stocks and bonds narrow volatility?

Lester N. Himel discovered the use of specific types of Life Insurance to enhance and expand the performance of investment portfolios several years ago; this after spending 28 years in a variety of positions on Wall Street. Like most financial professionals, he considered stocks, bonds and similar instruments as the core of a reasonable investment approach. In those last several years, Les has found the better way.

Les comes to this field with a very broad financial background. He started as a compliance officer, worked in administration, was an institutional bond trader, developed an Emerging Markets business, and was also involved with “alternative investments”. Now, as one of only 200 Bank on Yourself authorized advisors, and with his ability to integrate far-reaching insights, he guides clients to financial success. Les prefers low risk and “guarantees”, and has an ability to simplify explanations of what, why and how. Les has achieved various FINRA registrations, and is a Chartered Financial Consultant (ChFC).
Lester resides in Westchester County, New York with his family and stays very busy working with clients across the country.