Loans

Episode 88: Money Answers with Jordan Goodman

May 10, 2019 by Not Your Average Financial Podcast

In this episode, we ask:

Who is Jordan Goodman?
Where is financial education?
How do people behave around the stock market?
What happens with debt?
What incentives are there to save?
Is debt fueling the economy?
What has changed with the new tax law?
What books has Jordan written?
How do we refinance car loans?
Is a car an asset or a liability?
What is myloangen.com ?
What is a defeat device on leased cars?
What about the high interest student loan debt?
What is splashfinancial.com/moneyanswers and how can they help with paying off student debt quicker ?
What is the problem of this generation?
What are some strategies for paying for college?
What about credit cards?
What is guidetocreditcard.com ?
How can we improve our credit score?
Are errors on your credit report?
What is the FACTA law?
What is tourdecredit.com ?
What about medical debt?
What are the qualified advocacy organizations?
What is healthcareadvocates.com ?
How do we prioritize business debts?
Who has the most leverage over your business?
What is Corporate Turnaround?
What is helpwithpayables.com ?
Where is Jordan’s landing page?
See go.moneyanswers.com/notaveragefinancial

Jordan Goodman is ‘America’s Money Answers Man’ and a nationally-recognized expert on personal finance. He is a regular guest on numerous radio and television call-in shows across the country, answering questinos on personal finance topics. He appears frequently on The View, Fox News Network, Fox Business Network, CNN, CNBC, and CBS evening news.

For 18 years Jordan was on the editorial staff of Money magazine, serving as Wall Street correspondent. While at Money, Jordan reported and wrote on virtually every aspect of personal finance. In addition, h e served as weekly financial analyst on NBC News at Sunrise for 9 years, and the daily business news commentator on Mutual Broadcastings System’s America in the Morning show for 8 years.

Jordan is the author / co-author of 13 bestselling books on personal finance including Master Your Debt, Fast Profits in Hard Times, Everyone’s Money Book, Master Your Money Type, Barron’s Finance and Investment Handbook.

Jordan is a popular speaker and seminar leader on personal finance topics for business people, students, associations, investment clubs, employees and more.

Episode 87: How to Get Wealthy While Paying Your Taxes, Part 2

May 3, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

What is the greatest wealth building opportunity while paying taxes?
Do you get a tax refund each year?
Have you listened to Part 1, Episode 86?
Is your cash accessible?
Do you have the flexibility with a repayment schedule?
What happens if you don’t pay a life insurance policy loan back?
What about uninterrupted compound growth?
What are the steps?
Can you save for taxes and retirement at the same time?
Can you pay taxes with a policy loan?
Can you save for taxes throughout the year?
For whom does this strategy work the best?
Are tax refunds free money?
Does the IRS pay you interest?
What questions do you have?

Check out this private video webinar we did on Bank On Yourself and paying your taxes!

Click here to watch– https://youtu.be/000TgLqQpNQ

(or skip ahead to here to just see the numbers for “Tommie Taxpayer”) https://youtu.be/000TgLqQpNQ?t=4267

Episode 86: How to Get Wealthy While Paying Your Taxes, Part 1

April 26, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

How about peace, sanity and satisfaction?
How do you pay your taxes?
After you’ve cut down your obligation, what then?
When did withholding start?
What are all of the ways you can pay for something?
What is opportunity cost? See Episode 13
How much do you truly pay in taxes?
Can you change how you pay for your taxes?
What if you could save money?
What if you could make a return?
What are the IRS late penalties?
What’s the difference between monthly and daily compounding?
Have you heard the Debt, Saver and Wealth Accumulator episode?
What happens when you take a loan from a 401(k)?
How many times do you get taxed with a 401(k) loan?
Can you take a loan from an IRA?
What about HELOCs?
Are home values guaranteed?
Are you in the pocket of the bank?
Can the bank take a HELOC away?
Can the bank call a HELOC?
What about tax savings with HELOCs?
When do you need money most?
What has happened to tax benefits with HELOCs after the new tax law?
What about collateralizing with a traditional bank loan?
What about CDs?
How can you use a correctly designed whole life insurance policy to pay taxes?
What about business owners?
What about selling a business?
Why do business owners benefit from a Bank on Yourself type, dividend paying whole life insurance policy when paying taxes?
Would you like to make your own payback schedule?
What happens if you don’t repay the loan?
What about uninterrupted compound growth?
Is the tax liability one of the biggest expenses of your year?
What are some other benefits?
How is this different from deductions?
Do you have a good system for paying your taxes?

Remember! This episode provides generalized tax information and is NOT considered the same as the professional tax advice you will receive from your CPA. We are not CPAs, and we don’t play them on T.V.

Please consult your CPA or tax expert for professional tax advice and insight into your specific situation.

Episode 83: How to Maximize Your Retirement Income

April 5, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

How much peace and financial stability can you have?
How do oceans and rivers work together?
How do we benefit from systems?
Are annuities good for liquid access?
How can we solve immediate cash needs?
Where could you possibly keep an OCEAN OF MONEY?
How does a Bank on Yourself type policy work with annuities?
What spreadsheet did Holly create?
What is direct recognition?
What is non-direct recognition?
How does direct or non-direct recognition work?
Do you have a dividend paying whole life insurance contract?
Do you have a provision for non-direct recognition policy loans?
Do all insurance companies encourage policy holders to take policy loans?
Why is so important to work with the right advisors?
What can be buried in the contract provisions?
How do policy loans work? Have you heard Episode 32?
How can you overcome opportunity cost?
Does your policy have a TRUE non-direct recognition provision?
How can you get your money do two things at once?
Can you imagine growing your cash (even when you’ve spent it)?
How can your hard earned dollars work hard for you?
What if you had $1M in an annuity and $1M in a Bank on Yourself type Whole Life Insurance policy?
What happens when the account value is gone?
What is an ideal safe withdrawal rate?
How can you protect against running out of money?
What if we spend down the whole life policy earlier and allow the annuity to keep growing?
Which vehicles give you the most income in retirement?
Where are the guarantees in the stock market?
Is it possible to predict what the market will do?
Who is better at choosing stocks? Hedge fund managers or monkeys?
Would you like peace of mind?
Would you like your money to be there for you no matter what happens?
What are people saying?
Would you like to send us a review?
Would you like a free copy of the Bank on Yourself Revolution book?
Email us at hello@nyafinancialpodcast.com
Would you like to book a meeting with Mark?

Episode 71: The Debtor, The Saver or The Wealth Creator – Which Staircase Are You Climbing?

January 11, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

How do you buy stuff?
Would you like to meet us in person?
What staircase are you climbing?
How do you fund large capital purchases?
What are some benefits?
What does conventional purchasing look like?
What is the debtor’s or borrower’s staircase?
What do you have after you pay back the debt?

What is the saver’s staircase?
At the end of the saver’s staircase, what do you have?

What is the wealth creator’s staircase?
At the end of the wealth creator’s staircase, what do you have?

What about privacy?
What’s the best way to buy stuff?
How do wealth creators buy stuff?
Is it possible to “pay for something” twice?
What is “saving on the other side of the purchase”?
How does perspective matter?
What is an accelerated death benefit rider on a whole life insurance policy?
What are you going to do with this information?

The images here are inspired by and based on Don Blanton’s Circle of Wealth System, by Money Tax, Inc., “Debtor, Saver, Wealth Creator Visual,” The Private Reserve Strategy™, January 2012.

Episode 67: A No Stress Holiday Season

December 14, 2018 by Not Your Average Financial Podcast

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In this episode, we ask:

Can you hear the jingle of the bells?
Why are we so stressed at the holidays?
What drives people to take policy loans?
What does Amanda Neely say about strategically navigating the holiday season?
Do you have an emergency fund?
Do you have a feeling of abundance?
How can you free yourself up financially?
What does Jonathan Stinson say about having more options and more leverage?
What is “leveraging liquidity without depleting it?”
How can we think about these things differently?
How did Marvin purchase a car at the holiday?
What about the power to access your cash?
What did Holly do with a policy loan?
What did Mark and Katrina do with policy loans?

Episode 55: Banks vs. Mutual Insurance Companies

September 21, 2018 by Not Your Average Financial Podcast

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In this episode, we ask:

What are banks?
- How do banks work?
- What happens when you put your money with a bank?
- Is a checking account safe?
- What about interest bearing savings account?
- If you put ten thousand dollars into the interest bearing savings account, how much do you get credited to your account?
- What is the bank’s business?
- Why do they lend money?
- How far does modern banking go back?
- What was Jekyll Island? Who was there?
- What is the Federal Reserve?
- How much do banks have to keep on reserve?
- When did the FED update the requirements for the reserves?
- Where is all of your money?
- What happens when you deposit money into the bank?
- Why do we call deposit accounts the “safe” place?
- Is there another way?
What are mutually owned life insurance companies?
- How long have these companies been in force?
- What does Benjamin Franklin have to do with insurance?
- How are these different from a bank?
- Are life insurance companies allowed to inflate the money supply?
- Are life insurance companies allowed to participate in fractional reserve banking?
- What are the reserve requirements for an insurance company?
- Which is safer? The institution who has 10% or less on reserve or the company that has to keep over 100% on reserve?
How many banks went bankrupt in 2008?
How many life insurance companies in 2008?
If banks are so safe, why did so many fail?
If there isn’t going to be a bailout next time, how many more banks are we going to see go down?
Have you ever looked into who owns banks?
Have you ever heard of BOLI (Bank Owned Life Insurance)?
How much life insurance do banks purchase, according to the FDIC?
How do banks benefit from BOLI?
Should you do with your money what banks are doing with theirs?
What is COLI? Corporate Owned Life Insurance
Is a mutual life insurance company policy SAFER than a bank?
What happens if a life insurance company fails?
How are life insurance companies regulated?
What are insurance companies invested in?
Are life insurance companies convenient?
Do we spend more or less as availability to money becomes more convenient?
How would a life-insurance driven debit card affect dividends?

Episode 54: Rules of Thumb for Taking Out a Bank On Yourself Policy Loan

September 14, 2018 by Not Your Average Financial Podcast

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In this episode, we ask:

When are the appropriate scenarios for taking a policy loan?
Are you thinking like a banker?
Do you want your income to equal your premium?
What are the rules of thumb?
- When should you use a policy loan? Would it take you more than six months to save for that?
  - Why six months? Is that arbitrary?
- When should you pay cash? Is paying cash better than taking a policy loan?
What about loan interest?
How does the dividend date come into play?
Is there any room left in your policy?
Do you have the cash?
How quickly do you plan to pay the loan off? …More than six months?
What does the room in the policy look like? …What is the best and highest use of that cash?
Where will your money work hardest for you?
Why put money into a policy first and then take a policy loan?
How long does that process take?
What is “saving on the other side of the purchase” ?
How is this different from going into debt?
When is it a good time to break the rules above?
What are some things you should take loans out for?
- A phone?
- A laptop?
- A health insurance deductible?
- A down payment on a home?
- Home remodeling?
- Car repairs?
- Large emergency costs?
- Payroll?
- Inventory?
- What is the threshold?
Are these hard and fast rules?
What’s the minimum you can repay on the policy loan monthly?
There are no fees?
It takes about a week to get policy loan funds?
You can loan up to roughly 85%-90% of your cash value?
Is your money sitting still or in motion?
Do you budget your cash value?
Are you double counting dollars?
When should you not take out a loan?
Have you seen It’s A Wonderful Life?
Why do banks love your cash value as collateral for a bank loan?
Have you read the fine print?
Do you still have questions? Talk with us!

Episode 38: Another Word From Our Clients

May 25, 2018 by Not Your Average Financial Podcast

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In this episode, we ask:

What are our clients excited about?
Who is Christine?
What did Christine see her family and friends go through?
What was Christine’s first reaction when she heard about Bank On Yourself?
How does Christine use her Bank On Yourself policy?
What does Christine think is the best feature of a Bank on Yourself policy?
What did Mark learn from a recent study about education around policy loans?
What is Christine’s advice to first-timers?
What unique perspective does Christine bring?
How many ways can you use a Bank On Yourself policy?
How are Ben and Erica using their system of Bank On Yourself policies?
What did Harvey do to pay his daughter’s tuition, even when he was out of work?
How did Harvey use his policy to buy a new car?
How does Ros feel about her Bank On Yourself policies?
How did Amanda’s life change because of her Bank On Yourself policy?
How did Brandon eliminate their business debt and student debt?
How did Joe secure copyrights and photographs for his book?
How did Andrew become debt free and see his money continue to grow?
How did Craig fulfill the American Dream?
How did Grady creatively use a Bank On Yourself policy loan to improve his credit score and save $5K on the life of his student loan? (Amazing.)
What do you think about Ben “taking the hit” on moving money out of a traditional retirement account?
How is “taking a hit” for growth much like gardening?
What thoughts do you have?
What ideas do you have?
Hop on our calendar! Let’s see what’s possible.