Loans

Episode 380:[Client Spotlight] Mastering Real Estate and Bank On Yourself® with Brian Claus

December 13, 2024 by Not Your Average Financial Podcast

In this episode, we ask:

How about balancing family life, ministry and real estate?
Who is Brian Claus?
Have you heard about UnBound Now?
What’s Brian’s earliest memory with money?
What did Brian’s Dad do to incentivize saving?
What’s Brian’s story?
What happened in 2018?
What are the benefits of running real estate through policies instead of banks?
What about Dave Ramsey’s thinking?
What about due diligence?
What about selling the house?
What was the benefit of putting the proceeds into a policy?
What about the down payment for the new house?
What about the pool?
What happened with the land deal?
What about the other deals?
How did Brian access the money?
Would you like to view Brian’s financial map?
How else does Brian use these policies?
What about paying taxes?
What about the ministry through Brian’s church?
Would you like to visit UnBound Now?
Would you like to email or message Brian on the FREE Not Your Average Financial Community?
What are the takeaways?

Brian Claus balances family life with a career in diverse real estate ventures, from long-term rentals to Airbnbs and land sales. For over a decade, he’s worked with Unbound Now, a dedicated anti-human trafficking organization, where he’s made a meaningful impact.

Episode 374: [Client Spotlight] Bank On Yourself® and Austrian Economics with Max Brusky

November 1, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Can you imagine…?
What is Austrian Economics?
Who is Max Brusky?
What is Max’s podcast about?
Would you like to hear the BuckAround Podcast?
What happened to Max in downtown Chicago?
What happened at the Mises Circle event?
What is the relationship between Austrian Economics and Bank on Yourself?
Who is Ludwig von Mises?
What about Mises’ books, Theory of Money and Credit (1912) and Socialism (1920)?
What about sound money?
What is considered a store of value?
What about lending money?
What is the purpose of the central bank?
Is it a quasi-government agency?
Who appoints the central bank’s governors?
What is money? What is credit?
Who controls the money supply?
What leads to inflation?
What leads to improper business signals to investors and creditors?
What is a good interest rate?
Who sets the interest rate?
What is the Austrian Business cycle?
What is the boom / bust cycle?
What happens when the money is cheap and free?
What happens when bad decisions get subsidized by more money?
What does Mark have?
Do the Austrians have something to say about what’s going in our world right now?
Would you like to visit mises.org?
What about the Great Depression?
Would you like to read Murray Rothbard’s book on The Great Depression?
Who was Murray Rothbard?
What about human action?
Who are the Austrian economists?
What is the fix? Can anyone fix it?
What about Bitcoin and cryptocurrencies?
What about the various agendas?
Do you remember the sidebar blogroll?
What about various Austrian economist podcasters?
What about Keynesian economics?
What about course corrections?
What did Thomas Jefferson say?
How was Max lucky?
Who is Robert Murphy?
Who is able to opt out of that system?
What is designed to keep you in debt?
What about debt, on the bank’s terms?
What happens when you use the cash value as collateral on a policy loan for big purchases in Bank on Yourself® type whole life insurance policies?
What is the great dispossession?
Who gets paid last?
How is an insurance company’s contract different?
What about the history of the contract?
What are the benefits of whole life insurance?
How does the death benefit make a big impact?
How has Max used his policies?
How about loaning money to kids for college?
What about having skin in the game?
What about the honor of paying back your debt?
What about paying tax?
What about donations?
How do the college loan repayments contribute to the kid’s inheritance?
What is a racket?
What are some creative ways to set up kids for success?
Would you like to visit mises.org?
Would you like to visit aier.org?
What are the takeaways?

Max Brusky is an attorney specializing in civil litigation, particularly insurance defense, coverage, and subrogation. He is currently an “in-house” and Claims Director for a national trucking company. He is a happy husband to a happy (and brilliant, and understanding) wife, and the proud father of two, one in college, one almost in college. He currently lives in Chicago’s far west suburbs, but still considers himself a Wisconsin expatriate.

Episode 368: A Better Way to Profit First with Mike Michalowicz

September 20, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Have you ever wished you were just average?
Are you a business owner?
Why do some business owners thrive and others merely survive?
What if it were easy to become profitable?
Who is Mike Michalowicz?
What is the commercial that changed Mike’s life direction?
What happened when Mike was in overwhelming debt?
What is Parkinson’s law?
What about doing fewer things, better and faster than ever?
What about making the (scary) choice to take profit first?
What did Mike realize?
What about cost cutting?
What about growth?
How did Mike flip the (Sales-Expenses=Profits) formula to (Sales-Profit=Expenses)?
Would you like to hear Episode 165?
How might one implement Profit First?
What is a behavioral intercept?
How might we set up a system to drive the results we want?
What are the core elements?
What is the vault?
What about blending the Bank on Yourself® strategy and Profit First?
What are the pitfalls?
What about Occam’s razor?
What about leveraging your natural tendencies?
What are Mike’s four healthy habits?
Did you know that Brandon Neely and Amanda Neely are Certified Profit First Professionals?
What is a Certified Profit First Professional? Would you like to visit profitfirstprofessionals.com?
What about Mike’s latest book, All In?
What do your clients want more than anything else?
What are the takeaways?
Which one of these actions will you take this week?

Mike Michalowicz is an investor, active partner in multiple companies and a prolific author. His bestselling book, Profit First, has sold more than one million copies.

Mike is a former small business columnist for The Wall Street Journal, and he launched three multi-million dollar companies before his 35th birthday.

If you enjoyed reading Profit First, you may also enjoy his other books, including All In, The Pumpkin Plan, Clockwork, Fix This Next, Get Different, My Money Bunnies, Surge and The Toilet Paper Entrepreneur.

Episode 367: A Bank on Yourself® Manifesto with Dave Bonnemort

September 13, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to hear Part 1 with Dave Bonnemort?
What about mindset?
What about cash value life insurance?
What is the point of all of this?
What about building capital?
Can you do hard things?
What’s Dave’s experience with his policies?
What about thinking long range?
Do you want a million dollars today or a penny that doubles every day?
What about dividends?
What was Nelson Nash pounding the drum about?
When do you want your money to be most efficient?
How does the Bank on Yourself® or Infinite Banking strategy fit into the E.S.I. framework we talked about last week?
What about warehousing your wealth?
What about emergency funds?
What about starting a business and access to opportunity funds?
What about looking at the flow of money?
What about the Profit First book?
How does Dave pay his taxes?
How does Dave protect the family and the business?
What is the Augusta rule?
What about paying for college and beyond?
What about saving to drive the efficiency of the dollars?
What about real estate, crypto or starting a business?
Does the choice have to be either/or?
How is life insurance an “and asset”?
How do the tax dollars pay for the life insurance premium?
What did Dave learn from Nelson Nash?
What about insurance as an asset class?
How did Dave choose to work with Mark?
Do you build capital in an investment?
Who gets burned?
What about ruminating over all of the information, to really absorb and learn it?
What about being more strategic?
What about paying a simple interest rate back to the insurance company?
What about having capital for opportunities?
What about getting better terms for cash (vs. financing)?
What about the example of the two sisters: the life insurance sister vs. the C.D. sister?
Why are books so important and so much better than social media?
What will take time?
What is a 30 year journey and process?
Who understands how to handle lump sums?
Who is willing to hustle and grind?
What are the strategies you can employ when you can’t pay a premium?
What about thinking long term?
Would you like to hear Episode 95 and Episode 96?
How might life insurance figure into your overall situation?
How might it be a safety net as well as accessible capital?
How might patience lead to exponential growth over time?
What about talking with your family to teach financial concepts in a practical way?
Would you like to meet with Mark?

Dave Bonnemort is a current client and active practitioner of the Becoming Your Own Banker concept, as well as a husband to an amazing wife and father to three incredible kids.

He makes his living as a small business owner, is a student of Austrian economics, and a personal finance junkie.

Episode 366: From Mowing Lawns to Mastering Money with Dave Bonnemort

September 6, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Does X mark the spot?
Who is Dave Bonnemort?
How did Dave get his start?
How many policies does Dave and his family own?
What is the E.S.I. framework?
What about earning?
What about saving?
What about interest?
What about banking?
Who is good at at least two of the three?
What about investing in yourself and your health?
What about education?
How might we bring value to others?
What have you done to help keep up with inflation?
What is the difference between saving and investing?
Is a 401(k) saving or investing?
What about the book Becoming Your Own Banker by Nelson Nash?
What about keeping your debts low?
What did Charlie Munger say?
What about Willie Sutton’s law?
What about the changing rules?
Have you looked at the history of taxes?
Where are the big payouts?
What about risk?
What about the likelihood of loss vs. the likelihood of winning?
What about volatility?
What about saving and building capital?
What about being broke as a joke?
How did Dave 10x some of his money?
Who knows better (what to do with your money)?
What about banking, rate and volume?
What are the two businesses?
How about patience and hard work?
What about the mindset?
What are the ugly, painful, grinding years?
What about the capitalization phase?
How is this like starting a tree farm?
What about the loan phase?
How much money do you bring in every month?
What dollar amount do you bring in as loans?
What if you were paying yourself back (for loans) and recapturing that interest instead?
Would you like to hear Part 2 with Dave next week?
What are the takeaways?
What about the need to have accessible, liquid capital?

Dave Bonnemort is a current client and active practitioner of the Becoming Your Own Banker concept, as well as a husband to an amazing wife and father to three incredible kids.

He makes his living as a small business owner, is a student of Austrian economics, and a personal finance junkie.

Episode 365: Retirement Savings Sabotage! Why 90 Percent of IULs Fail… and What To Do

August 30, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Are we in a retirement crisis in this country?
How was that agent trained?
What is the problem with indexed universal life insurance (IUL)?
Have you read the book Becoming Your Own Banker by Nelson Nash?
Would you like to hear Episode 312?
Have you read Pamela Yellen’s book The Bank on Yourself Revolution?
What did the estate planning attorney say?
What was on the Comparing Life Insurance Solutions document (see readable image of document below)?
Have you been tricked?
What’s in the fine print?
What about withdrawals?
Can you put money back into an IUL after a withdrawal?
What is the main purpose of a life insurance company?
What about the investment portfolio?
What do insurers make on their overall portfolio?
What types of investments are in the insurer’s portfolio?
Who believes 7%?
What is mathematically impossible?
What rate of return is legally shown on the statements?
Is there such a thing as an average rate of return?
What will the insurers do with an IUL contract?
Do you remember the Fast and the Furious, etc.?
What happens if you take a loan from an IUL and the market crashes?
What is the feature?
What about the insurance expenses?
Why is that IUL cash value shrinking?
Why does the cost of insurance go up every single year in an IUL?
What about tax-free loans with an IUL?
What happened to the IUL writing agent?
How much are you taking out each year to supplement your retirement?
How many years are you getting 0 on your index?
Do you have income to pay down the IUL policy loans?
What adds to the pressure?
What happens to 88% of IUL policies?
How many IUL policies pay a death claim?
What if your IUL policy lapses with gains inside of the contract?
How long do you have to pay the taxes?
What is the over loan protection rider for those age 75+?
What about properly set up permanent dividend paying whole life insurance, from a mutual insurance company that offers non-direct recognition loans?
What is true?
What happens if you totally ignore the policy loan?
When does a policy risk lapsing?
What about flexibility?
How about a thought exercise, a tale of two contracts?
What happens when you’re in your in your eighties and can’t pay the higher premiums?
What are the guarantees in IUL?
What are the guarantees in whole life?
What is annual renewable term insurance (ART)?
What about costs?
What are the differences?
What are the limits of an IUL?
What is a reduce paid up policy (RPU)?
Can one RPU an IUL?
What about the strength of dividends?
What should this document say about whole life insurance?
What is the cost basis?
What about the rules for policy loans?
Why the ommissions on the IUL side?
What is a stalwart of several centuries of financial stability?
What is the big experiment of modern times?
What almost never pays a death benefit?
What about the gains being taxable?
What about the tax implications for beneficiaries of IUL policies?
What is the 1035 exchange?
Can one 1035 exchange from an IUL into a whole life policy?
Who’s in your corner to help you navigate and interpret all of this jargon?
Would you like to meet with Mark or one of Mark’s colleagues?

Episode 350: The Art of Leveraging Insurance for Real Estate Success with Jay Helms

May 17, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Can you imagine?
Would you like to hear another story from Jay Helms?
Would you like to hear Episode 243?
How did Jay break free from the rat race?
How did Jay leverage his Bank on Yourself® type whole life insurance policy’s cash value for real estate?
What was the annualized return?
What were the results?
What was the deal?
What was the loan amount?
What was the interest rate?
What happened six months later?
What’s a “me-loc” ?
What are the advantages?
What was the policy’s growth?
What is positive arbitrage?
Where else can you do this?
What about the risk?
What about first lien position as a safeguard?
What about coming out of the W-2 and going into the real estate world?
What did he say?
What did he not say?
What about liquid access to that money?
What about Jay’s mastermind group?
What about growth friends?
Would you like to join or login to the FREE Not Your Average Financial Community to access and participate in office hours?
How about a thought exercise?
Would you like to download this FREE two column sheet with growth friends | maintenance relationships along the top?
What are 20 of the most recent, important connections from your device (text, zoom, phone)?
What is the crab bucket?
What happens when you take action?
Would you like to meet with Mark?
Would you like to meet with Jay?
When is the best time to plant a tree?
What does Jay say about starting a policy?
What are the takeaways?
How might you leverage your life insurance?
What could be a powerful cash management tool?
What about positive arbitrage?
What are you waiting for?
What about calculated risks?
What about the importance of real relationships?
How will you think differently about your money, your economy and your future?

Thought Exercise: Growth Friends and Maintenance Relationships (PDF)

Jay Helms, Founder of the W2 Capitalist, escaped the rat race after 6 years of side hustling in real estate investing. Jay has a goal to help one million people create multiple streams of income, achieve financial freedom, or build legacy wealth through real estate investing. Jay met his wife Cassie when they were contestants on a reality TV show and when their family of 5 are not traveling the country in their RV, Jay and Cassie reside in Gulf Breeze, FL, with their three kids, Rowland, Stella, and Ellen Anne. Knowing that closing on the first deal is the biggest hurdle and roadblock for new investors, he wrote a book, Make An Offer: Break Through Analysis Paralysis & Grab the Confidence You Need to Become a Real Estate Investor, to help them get over those mental hurdles.

Episode 349: The Heirs or The IRS?

May 10, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

What annual day did Americans just survive?
Where do you pay tax?
Who pays the most in lifetime taxes?
Who pays the least?
What about your heirs?
Do you want theirs or your heirs to get the money?
What is legally required?
Would you like to hear Episode 199?
What are the steps?
What about income tax?
What about assets that force an income?
What about assets you can borrow against?
What about collateral?
What about the tax to your heirs?
Is this only for the ultra-wealthy?
What are some ideas?
What happens when the laws change?
What about BITA?
What about taxing the rich?
How does this affect the middle class and less wealthy?
What about estate tax?
What about interest rates?
What about a mindset shift?
Are there capital gains on life insurance?
What are the problems?
What is guaranteed to grow?
What is not guaranteed to grow?
What happens if you find yourself underwater?
What about liquidity?
What about compounding?
What assets compound?
How about an example?
What about the power of compounding growth?
What are the opportunities?
Is everyone going to be able to save enough money?
What about saving a modest amount?
What are billionaires doing with their stocks and real estate?
What are the quick takeaways?
What are the strategies?
What about the risks with common strategies?
What about whole life insurance?
What about reducing your tax burden now?
What about a Bank on Yourself® type whole life insurance policy?
Would you like to visit notyouraverage.mn.co?

Episode 346: When Bank on Yourself® Policy Loans Matter Most

April 19, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Why haven’t you subscribed yet?
What big purchases are coming up?
Can you earn your way out of expenses?
What happens in retirement?
Can you earn your way out of expenses throughout all of the ages of life?
What’s the difference between earning income at age 35 and age 86?
What allows for uninterrupted compounding?
How is this possible?
Who offers non-direct recognition policy loans?
How about an example?
What is the amount of the cash value?
What is the simple interest rate on the policy loan?
What happens over four years?
What happens to the policy?
What is the gain?
Did you earn more than you spent?
What happens over a longer time horizon?
What about dividends?
Would you like to hear Episode 345?
Would you like us to review your policy?
What is unbelievably cool?
What products stop growing your money when you spend it?
Can you imagine this chart?
What happens on the spend down?
What continues to earn interest?
What if you could continue to maintain the compounding growth on your money?
What are the implications?
What results shocked Mark?
What if they never paid off the loan?
How about another apples-to-apples example?
What does a policy loan look like in a direct recognition policy?
What about the interest?
What about receiving a weird letter from the insurer at age 81?
Where was the compounding?
Where did the growth go?
What does a policy loan look like in a non-direct recognition policy?
What about the interest?
What is the difference?
What is the policy growth based upon?
What about compounding and accumulation?
What about loan interest?
How much more?
Is the policy designed the right way?
Who is getting penalized?
How about a timely warning?
Does your agent understand the working parts well?
Is your policy built correctly?
Is your policy breaking compound growth?
What about the Gold Standard of the Bank on Yourself® Professional training?
What would it look like?
What about absolute certainty?
Do you have to know everything about how your phone was engineered to enjoy it?
How is a Bank on Yourself® type whole life insurance policy like a smart phone?
When was the last time you reviewed your current policy?
Would you like a second set of eyes?
Would you like to learn more by listening through our Episodes in a List?
What about time?
Are you serious?
Would you like a meeting with me or an associate?

Episode 345: Direct vs. Non-Direct Policy Loans, The Debate and The Truth

April 12, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

What is a policy loan?
Why do we love the Bank on Yourself® type whole life insurance policies?
Is a non-direct recognition policy loan the best feature in the financial universe?
What is a direct recognition policy loan?
Is there really no difference between the two?
Does it really matter?
Why is transparency key?
What is the history between non-direct recognition and direct recognition policy loans?
How long have life insurance policies loans been around?
Over 150 years ago, how did insurers treat these separate loans with distinct interest rates?
What about collateral?
What about the life insurance general fund?
What about using your policy as collateral?
What about dividends?
How would the policy continue to earn interest?
Where is the money for the loan coming from exactly?
Why did some insurance companies move over to do direct recognition policy loans?
Why did some insurance companies hold firm with non-direct recognition policy loans?
What is a mutual life insurance company?
What about profits?
Who should logically have a higher dividend?
Who is penalized?
Do companies offering direct recognition policy loans offer slightly higher dividends?
Who is going to have a better experience?
What good is that cash value if you can’t collateralize it?
What about the living benefits of life insurance?
What is outrageous?
What did Nelson Nash say?
Who has real liquidity?
What about direct recognition policy loans for a time horizon (for 10 years, etc.)?
How about an example?
What is a 1035 exchange (a like-kind exchange for life insurance)
Would you like to learn more in Episode 252?
What happens in a scenario where direct recognition policy loans were taken?
What happens in a scenario where non-direct recognition policy loans (as in a Bank on Yourself type whole life insurance policy) were taken?
What about the dollar diagram?
What about the one dollar?
What happens if you put this single dollar into a paid up additions rider (PUAR)?
What about opportunity cost?
What happens if you spend that dollar instead of saving it?
What is the interest?
What benefits you?
What about dividends?
How do the insurers earn money for dividends?
How does that benefit policy holders?
How much would you have?
How many dollars…?
Is there such a thing as paying too much premium?
How about another example about a policy loan to purchase a car?
What did the three cars cost you?
How much did you net in the non-direct recognition policy loan’s policy?
Knowing all of this, why would you buy a car any other way?
Should you just get a bank loan?
What totally defeats the purpose of Bank on Yourself®?
Are you being penalized?
Which scenario keeps me more in control of my own money?
Which scenario yields control to the bank?
What about Bank on Yourself® policy engineering?
Would you like to meet with Mark?
Would you join us next week?

The topics and images presented in this podcast are general information only and not for the purposes of providing legal, accounting or investment advice. On such matters, please consult a professional who knows your specific situation.

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