Loans

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.

Episode 37: A Word from Our Clients

May 18, 2018 by Not Your Average Financial Podcast

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In this episode, we ask:

What are our clients getting excited about?
How have our clients been utilizing their Bank On Yourself solutions?
How have our clients invested in Real Estate?
How have our clients increased their income?
How have our clients worked within their family structures?
How have our clients paid their taxes?
How have our clients paid for their grandkid’s college?
How are our clients leaving a legacy?
Who is Phil Smith?
How many policies does Phil and his wife own?
What questions did Phil have when he started working with Mark?
How is a Bank on Yourself policy an exercise in simplicity?
What is Phil’s experience with growth?
How has Phil used his policy?
How does Phil, who works at a credit union, see loans?
How does Phil do “not your average average” financial management?
How many creditors have hassled Phil?
How did Phil respond to a policy loan repayment letter?
How are credit unions beneficial?
How does Phil plan on using his policies in the future?
What’s Phil’s advice for first-timers?

Episode 33: Bank On Yourself Loans & Getting Out of Debt

April 20, 2018 by Not Your Average Financial Podcast

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In this episode, we ask:

Shouldn’t we pay down our debt first before doing anything else with our money?
How did Pamela Yellen’s husband “make a profit” on his heart surgery?
How can you reduce or eliminate your debt and increase your savings at the same time?
How can policy loans help you get out debt?
What is the first thing you should do to get financial freedom?
How can money keep growing as if you didn’t take a loan?
Should I wait until I’m debt free to start a Bank On Yourself designed policy?
What’s the snowball method?
What is the bomb cyclone method?
How does lost savings affect long term financial goals?
Are you missing out on retirement income?
How does this affect a mortgage timeline?
How can you eliminate student loans?
How can you supercharge your debt payoff?
See the Tale of Two Brothers Part 1
See the Tale of Two Brothers Part 2
What happens when your available loan value equals the loan balance?
What is better than paying cash to pay off a house?
What happens when you pay a policy loan back?
How can you pay off debt without losing the growth on your money?
How can use this strategy for student loans?
How can use this for financing a car?
How can use this for mortgage acceleration?
How can you get out of credit card debt?
How can you start saving?
How many applications are there with this strategy?
How can you get out of the debt without starting “at ground zero”?
What do you get after you’re debt free?
How do you keep the loan company happy?
In what ways can you utilize the snowball method on steroids?

Episode 32: How do Bank on Yourself Policy Loans Work?

April 13, 2018 by Not Your Average Financial Podcast

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In this episode, we ask:

What is a life insurance policy loan?
If I’m trying to be debt free, why go back into debt with an insurance company?
Are life insurance loans just like a credit card or a mortgage?
Isn’t a life insurance loan just like a personal loan?
How does your cash value collateral continuing growing, even when you have a policy loan outstanding?
How is this different from a HELOC?
Is your house guaranteed to go up in value?
What about contractual guarantees with a life insurance policy loan?
What are the limits with a life insurance policy loan?
Could the loans lapse the policy?
What is the best kind of investment to a life insurance company?
Can you be “underwater” in your life insurance policy loan?
What are the requirements for this type of life insurance policy to work in a Bank on Yourself design?
- Is it whole life insurance?
- Is it a non-direct recognition loan?
- Is it flexible, so you keep it for your entire life?
- Are you repaying your loans?
- Are you working with a knowledgeable, authorized advisor?
Do you have trauma from a previous bad experience?
Why do so many advisors not know how to design these properly?
Does your existing whole life insurance policy penalize you when you take policy loans?
Does your advisor know what they’re doing? Do they frantically google in front of you?
Why did the Titanic sink?
Do you know an advisor who has a skillful knowledge of Life Insurance contracts?
Of what red flags should you be aware?
With non-direct recognition policy loan, how is the dividend credited on a whole life policy?
If you don’t have a non-direct recognition policy loan, what happens?
When you take a policy loan, where does the money come from?
- See The Bank On Yourself Revolution by Pamela Yellen, page 256
What is the collateral for that loan?
When do life insurance companies get a profit?
How do you benefit from the interest you paid on the loan?
If the insurance company’s yield is better than their worst case scenario, what happens to your dividends?
Who’s allergic to paying interest?
What are some financing strategies when buying a car?
What interest does an insurance company charge on the loan?
Who are the owners of the insurance company?
Do you love that you are charged loan interest?
What is simple interest, compounded annually in arrears?
When is 5% not always 5%?
Why would you willingly pay extra for something?
What type of interest would you like on a savings account? Simple? Compound?
How can you calculate the growth you receive?
Is the method of banking on yourself better or worse than paying cash for things?
Don’t you wish more people knew about this?
How can you make a profit on buying a car?
How can you use a life insurance policy with non-direct recognition policy loans for income in retirement?
What’s the problem with the direct recognition policy loan design for income in retirement?
What design features have a tremendous amount of impact on how long money will last in retirement?
How do banks use money in more ways than one (at the same time)?
What does the fine print in your contract say?
“Ignore what banks tell you to do with money, and instead, watch what they do with their own money.” – John McCarthy
How much money do banks keep in life insurance contracts?
What’s a tier 1 asset?
How can you change your family tree?

Episode 31: How Do Bank Loans Work?

April 6, 2018 by Not Your Average Financial Podcast

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In this episode, we ask:

What is debt?
What are some of the common judgement calls about debt?
What are some religious thoughts around debt?
What did Solomon say about power?
What is the year of Jubilee?
Does debt lead to intergenerational slavery?
Are you more likely to be in debt if your parents are / were in debt?
Is debt evil?
Can debt cause trouble?
How can you severely limit your options?
Should we avoid all debt? Is it a black and white scenario?
What kind of debts do typical Americans carry?
How many people know that the first credit card wasn’t issued until 1951? How did people survive before 1951?
What is the average credit card balance and percentage?
Why is credit card debt so nasty?
By how much has Student Loan debt surpassed Credit Card debt?
How many people are supposed to be paying 100% in their annual salary to student loan debt?
What are some of the gotchas with student loan debt?
What are the implications for parents who have cosigned loans on their child’s debt?
Can you bankrupt student loans?
What about mortgage debt?
What is a good rule of thumb for housing costs?
Why can’t people save?
Why can’t people afford things?
What’s in the fine print?
Who can provide a second set of eyes for you, when you encounter fine print?
What about car loans?
Is vehicle debt going up or down?
How long does it take to pay these loans off?
What is the average savings rate?
What about vacations?
Why don’t most financial planners have a plan for life’s cashflow?
Why do you have to pay a bunch of penalties and taxes to access money?
Why do most financial advisors suggest that you eat rice and beans?
Why do financial advisors say to “not touch your money”?
Why are we forced into this crazy cycle where everyone is benefitting from your money but you?
How much cash will flow through your accounts in your life?
How will you work with your cash flow?
Can you avoid buying stuff?
Can you find a way to have uninterrupted compound growth and still be able to afford the stuff of life?
What is the bank doing with your money?
How do banks do more than one thing at a time with a dollar?
What is fractional reserve banking?
How do banks find the money for loans?
How do the banks get so wealthy?
How do you learn from the banks to harness your personal cash flow?

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