Loans

Episode 173: Am I Too Old for Bank on Yourself®? Part 2

December 25, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

Did you hear Part 1 in last week’s episode, Episode 172?
What about Bank on Yourself® for seniors?
What about long term care?
Can an 85-year-old get life insurance?
What about examples?
How do lump sum premiums work?
What about riders?
What about growth?
What about guaranteed values?
What about inflation?
What is a single premium whole life policy?
What about health concerns?
What is different about underwriting?
What about insuring someone in your family or business?
What about ownership of the policy?
What questions should you ask?
What about retirement?
Who do you know that needs to consider this?
Has your retirement gone up in value every single year?
What about dividends?
How strong is the institution where your money is held?
What about luck?
What about skill?
What about growth and principal?
What about taxes on gains?
Can you spend the money while it’s still growing for you?
What about borrowing cash value?
What is the path toward uninterrupted compound growth?
Do you have a Bank on Yourself® professional to talk with?
What is a non-recourse loan?
What happens when you die?
Is your money liquid?
Are you penalized from accessing your money?
Is your money trapped?
How much can you withdraw?
What’s pretty cool?
What about retirement income?
What about the biggest complaints from seniors?
What about penalties?
Does your plan address the 500-pound gorilla in the room?
What about long term care?
What about activities for daily living?
What about giving to charity?
What about probate court?
Would you like to hear some examples?
What about the sandwich years?
What about required minimum distributions or RMDs?
What about a home health care benefit?
What about leaving a legacy?
Where do seniors tend to keep cash?
What is possible and not possible to do?
Would you like to call us?
Would you like to view Mark’s calendar and book a meeting?

Episode 168: Robert Farrington, the College Investor

November 20, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

What’s the number one thing in your financial life?
What is the moment that compounding can work for you?
Would you like to work with Mark? Learn more and apply at bit.ly/worklg
How much student debt is there?
How did Robert earn his first dollar?
How did Robert’s article get so many eyeballs?
What about student loan debt?
What’s Robert’s story?
What are the implications of student loans?
How did Robert get debt free?
What about increasing income?
Who knows how many they have?
Did you take out loans with your parents?
Did you take out loans with your kids?
What are Robert’s 30 ideas for passive income?
What repayment can you afford?
Should you kick the can down the road?
What will you do for the next five years?
Do you have a system that works for you?
What are the odds of loan forgiveness?
What programs are available?
Are you into public service?
Can you get something for nothing?
What are the general rules of thumb?
What about refinancing?
What are the problems with Parent Plus loans?
What about family drama?
What about legal responsibility?
What are the rates now?
Should you be debt free before doing anything else?
What about the rate of return?
What about time?
Can you be this age again?
Would you like to visit thecollegeinvestor.com?
Would you like to learn more at loanbuddy.us?
What about consistency?
What about sticking with it?
What are the takeaways?
What about the volume of time?
What about refinancing student loan?
What about 529 plans for paying off student loan debt?
What are the takeaways?
Would you like to join us on Zoom, Tuesday, December 1?
- When: Dec 1, 2020 02:00 PM Central Time (US and Canada)
- Topic: Savings Smackdown – Save Now or Save Later
- Register in advance for this webinar. After registering, you will receive a confirmation email containing information about joining the webinar.

Robert Farrington is a student loan debt expert and the founder of The College Investor. He has been helping people navigate student loans, investing, and wealth-building for over 10 years.

Episode 166: Sean Morrissey is Landlording for Life

November 6, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

When was your moment?
Who is Sean Morrissey?
Have you heard the podcast Landlording for Life?
Who is Sean leading?
What about buy and hold real estate?
What is leading with lifestyle?
What does financial freedom mean for Sean?
What happened when banks lowered the line of credit?
What happened for four years?
What did Sean learn?
What does Sean do and what does liquidity do for Sean’s business?
How did Sean get started?
What is the value of liquidity?
What are the challenges for landlords right now?
What does the average guy or gal not realize about the need we have for access to capital?
Is it easy to buy?
What’s the weird position?
Are you liquid enough?
What about roughly 3% of capital expenditures and reserves?
What about roughly 5% for vacancy?
What about roughly 3% for a liquidity factor?
What about the “what if” game?
What about Mark’s meeting with Sean?
What surprised Sean?
What did Sean find?
Have you heard Episode 159 and Episode 160?
What did Sean learn?
What about universal life policies?
Are all mutual insurance companies good for Bank on Yourself® type policies?
Why does the contract matter on a life insurance policy?
What is a direct recognition loan provision?
What about non direct recognition company?
What’s an eye opener?
What are Sean’s hopes?
How does Sean plan to use his policies in sync with real estate?
What does Sean see, looking back?
How does Sean think big enough now?
Where do you want to be in 10 to 20 years?
When do we want our money most efficient?
What’s the power of a whole life insurance policy (especially the older ones)?
What about tax deductions and depreciation in real estate?
What about long range thinking?
What are the options down the road?
What’s the problem of real estate without whole life?
Would you like to work with Sean?
What is happening with evictions in Illinois?
What about liquidity?
What about setting sights too small?
How big can you think?
What about opportunities?
Want to work with us? We’re hiring. http://bit.ly/worklg

Sean Morrissey is a landlord and real estate broker, in the western suburbs of the Chicagoland area, who has built a $7M real estate portfolio and owns/manages Chicagoland Realty Group Partners LLC.

Having managed 200+ properties for landlords in the Chicagoland area, Sean has built property management systems to make “buy and hold” real estate sustainable and wealth-building.

Sean’s proudest achievement is being able to spend his days with his wife, two kids, dog and cat in what some may define a financial freedom lifestyle. Sean is the host of the real estate “buy and hold” real estate investor podcast called Landlording for Life.

Episode 163: Why Banks Need Insurance Companies with Kevin Greer

October 16, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to be the owner?
What about assets?
Who is Kevin Greer?
Who works with Kevin?
What’s the craziest thing Kevin’s seen?
What about families inheriting properties?
What about estates and life insurance death benefits?
How does Kevin acquire properties for BankFinancial?
What’s the big difference for a smaller bank?
Who is the target market?
Why does it make sense to work with a community bank?
How does cash value life insurance factor into net worth calculations?
What does Kevin see on the balance sheets?
What about term insurance?
What is a future asset vs. current asset?
What about liquidation situations?
What are capital markets?
What are BankFinancial’s sweet spot?
What is a recourse loan?
How does one personally guarantee a loan?
What is it like, as a bank, borrowing from life insurance companies?
What kind of loans do life insurance companies want?
What are the companies looking for?
How might you, as an owner in a mutual life insurance company, participate in these deals?
What about cash flow?
What about yield?
What about private lending (sort of like hard money lending)?
How does Kevin help private lenders?
How did Kevin discover his passion for this work?
Would you like to talk with Kevin?
- kgreer@bankfinancial.com
- Call 312-525-1131
- Reach out on LinkedIn
What are the takeaways?
What is a current asset? What is a future asset?

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

Kevin Greer, a commercial and multifamily real estate specialist for BankFinancial, has over 25 years experience lending and has closed over $100 million in real estate financing transactions.

Kevin participated on bank REO committees and REO disposition teams. In addition, Kevin has personally bought and sold several real estate properties over the past 15 years.

Episode 161: Bank on Yourself® and Real Estate Investing

October 2, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to hear a LIVE workshop Mark did with Roger Blankenship of the Flipping America Real Estate Investment Association?
Who has the deal funding power?
Is it possible to cut out mortgage companies?
What was the biggest wake up call of Mark’s adult life?
What are the three strategies and tactics?
What else?
Would you like to watch the video presentation (see below)?
Would you like to subscribe to the NYAFP YouTube page?
Would you like to hear the Q&A?

Episode 160: Why Work with a Bank on Yourself® Professional? Part 2

September 25, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

What is the history of Bank on Yourself®?
What did Nelson Nash find with the Infinite Banking Concept?
How was Nelson an evangelist?
What’s the issue with the IBC meaning?
What standards are in place around the Infinite Banking Concept?
What did Pamela Yellen learn?
What does Pamela write on page 247 of the Bank of Yourself® Revolution?
What is a modified endowment contract (or MEC)?
How did Pamela Yellen develop the Bank on Yourself® Professionals program?
How is the Bank on Yourself® language protected?
What is Bank on Yourself®?
How does this make a significant difference?
How might you know if an agent is capable and properly trained in designing a Bank on Yourself® type policy?
What about investment advisors?
What about designing riders properly?
How are these policies different from traditional whole life policies?
What is the only kind of insurance recommended for the Bank on Yourself® strategy?
What about captive agents?
What sort of products are captive agents writing?
Does it sound too good to be true?
What is Bank on Yourself® based upon?
Who owns Bank on Yourself® type life insurance policies?
Who do you know who is a Bank on Yourself® policy owner?
Can that advisor truly help you?
Why didn’t that advisor already tell you about Bank on Yourself®?
What is Bank on Yourself® NOT?
What about the knock-off advisors?
What about advisors who lost their licenses?
What is happening in the marketplace landscape?
What about the Infinite Banking Concept?
What about Private Banking Systems, Family Banking, Circle of Wealth, What Would the Rockefellars Do? and Perpetual Wealth Strategy?
Have you heard episode 95 and 96?
When was Nelson Nash’s Becoming Your Own Banker written?
What’s wrong with outdated numbers?
Is it about rate of return?
Is it legal to call an insurance policy a “bank”?
What about the laws and regulations?
Did Nelson Nash defend his trademarks?
How much do we treasure Nelson’s legacy?
What is a 770 Account?
What about the other names for a 770, including a President’s Secret Account, a 501(k) Plan, an Invisible Account and Income for Life?
What about a 702(j) Retirement Plan, attributed to President Ronald Reagan?
How are the Bank on Yourself® Professionals different?
What about Wealth Beyond Wall Street?
What is the promise?
What are some other names?
What is a Safe Money Millionaire or a 101 plan?
What is Indexed Universal Life?
What is in the fine print?
What about the warnings and disclaimers?
Why does the cash value on these go to ZERO?
What about the watchdog investigation?
Why are the illustrations on IUL and UL products wildly inaccurate?
What are IUL problems?
What about the IUL increasing costs?
Why is this devastating?
Why do these policies fall apart?
Would you like to hear Episode 59?
Would you like to hear Episode 60?
Would you like to hear Episode 61?
How are Bank on Yourself® Professionals different?
What is Maximum Premium Indexing and why is it so hot right now?
Why are they recommending buying an IUL and a whole life policy?
What is this mysterious strategy?
What is the advantage? What is the downside?
What is piggy backing?
Who does this benefit?
What are the red flags?
Why is this an ethical crisis?
Why is borrowing from one policy to buy a new one a bad idea?
What can you do if you’ve already purchased an inefficient or troubling policy?
Have you heard of the 1031 exchange in real estate?
Is there a like kind exchange in insurance?
What is the 1035 exchange?
Do you have an in-force illustration?
Would you like to call your insurer to get an in-force illustration?
Would you like us to review your in-force illustration for FREE?
- Email us your PDF at hello@nyafinancialpodcast.com
- or hop on Mark’s calendar.

The Problem with Costs Going Crazy in Indexed Universal Life (IUL)

Example of What Might Happen with Retirement Income Using Indexed Universal Life (IUL)

Episode 158: Bank on Yourself®: What’s in it for Insurance Companies? with Matt Berman

September 11, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

Why would insurance companies offer the products for Bank on Yourself® whole life insurance type policies?
Who is Matt Berman?
What is Foresters Life Insurance and Annuity Company?
How is a member different than a customer?
What is a fraternal benefit society?
How is the Foresters experience different than a stock based company?
What are the benefits?
How might life insurance promote a social benefit?
What space does Foresters create to provide service to the community?
What is Caring Through Crisis?
What about the legal support?
What is the Charity Benefit Rider?
What about the profitable business model?
How does Foresters stay profitable through these hard times?
What about the strategic plays?
What about managing low rates and uncertainty?
How is this an exciting time?
How does Foresters rise to the occasion?
What’s in it for Foresters?
What about diversification of risk?
What about consistency?
What about needs?
How does the Foresters spectrum of products serve different needs?
What about term life insurance?
What about permanent cash value life insurance?
What about premium levels?
What about retirement needs?
What about unanticipated life events?
When do profits emerge for life insurance company?
How is it that a company can lose money in the first year of a new policy?
What is an acquisition expense?
How do profits emerge over time?
What about premiums paid over time?
What about a strong persistency?
What about the diversification of the company’s risk?
What about the price point?
What is a long duration liability?
What about reinvesting back into membership?
What about stakeholders and constituents?
How long has Foresters been going strong?
What about purpose driven DNA?
How does Foresters operate?
What about innovation?
What about being purpose driven?
What about focusing on social good?
What happened in 2019?
What about wellness?
What about a rewards system based on wellness?
What are the takeaways?
Would you like to join us live tomorrow for Profit First and Bank On Yourself®, Saturday, September 12, 2020 at 11am ET?

As Chief Distribution Officer of Foresters Financial, Matt Berman is responsible for life insurance and annuity product development, pricing and sales across the United States and Canada.

Matt has over 25 years of experience leading strategic planning, sales, marketing and product management organizations in insurance and investment banking. He has worked in global organizations, including AXA, AIG and Zurich Insurance, motivating customer-focused teams in both the property and casualty, and life and savings sectors.

Matt holds a Bachelor of Arts in English from the University of Pennsylvania and a Master of Business Administration from New York University, Stern School of Business. Matt is an avid tennis player, skier and surfer, and active in community service.

Episode 157: I Love Leverage! I Love Liquidity! with Matt Shanlian

September 4, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

What if some information changed the trajectory of your life?
What if you knew?
What about your family?
Who is Matt Shanlian, and what does he do everyday?
What is happening with this pandemic?
What happened with the mortgage marketplace?
What happened with Fannie and Freddie?
Are the lenders busy?
What’s happening with the rates?
What’s the outlook?
What about volatility?
What’s keeping rates really low?
Are we seeing a downturn in value?
Are families taking advantage of this time?
What about the next six months?
What are the opportunities?
Do you have equity?
When is the time to act?
Are we having all time low interest rates?
What is Matt’s philosophy around home equity?
When should we keep money in the drywall?
What is the difference between this year and last year?
Is this artificial?
How does proactive thought affect the decision to get a mortgage?
What cripples the American family?
What is the hamster wheel?
What’s the plan to get out of credit card debt?
How does this affect retirement and getting a mortgage?
How might we free up cash flow?
What about debt consolidation?
What is the game?
What’s the risk of a cash out refinance?
How much can you pull out with a cash out refi?
How does debt affect your financial picture?
What are the two things that will make one successful in business?
What about liquidity?
What about leverage?
What is the average American’s net worth at age 65?
What is a HECM loan?
How might we maximize cash flow?
What about the spend down time in retirement?
What about after peak income?
What is a reverse mortgage?
What happens at age 62?
Can you get a reverse mortgage if you’re a millionaire?
What is the stigma around reverse mortgage?
What are added protections for the borrower?
What is the required reverse mortgage counseling session?
What changed in the recent past around the reverse mortgage?
What about soliciting?
Did your grandparents have credit card debt?
What about an example?
Do you have to pay tax on an equity account?
What about the line of credit option?
Do kids want to inherit “this old house”?
What about the next generation?
What about probate?
What about first right of refusal?
How does home equity dance with Bank on Yourself® type life insurance policies?
What about safety?
What about liquidity?
What about leverage?
How is home equity built?
How might outside factors affect your equity?
Who has the control?
What do you have the ability to do?
Who makes the rules?
What is the safe place?
What is in the walls?
What erodes the value of a home?
What advice does Matt have?
Do you do an annual mortgage “check up”?
What opportunity presents itself?
What is your mindset?
What is your plan?
What might supercharge your financial outlook?
How might you be proactive (rather than reactive)?
How much wealth might you build?
What are the takeaways?
Does a cash out refi make sense?
Would you like to read Wade Pfau’s book?
Would you like to review your home equity numbers with Mark or one of Mark’s associates?
Would you like to join our mailing list?

Matthew Shanlian received his bachelor’s degree in finance from Liberty University before working full time in the mortgage industry starting in 2007. Matt began as a Loan officer assistant and has worked his way up to Division President with Primary Residential Mortgage, INC.  Matthew is a nationally recognized speaker, frequent podcast guest, and also serves on the board of directors for NIME, a non-profit , financial services education organization. These activities have helped him earn the achievement of being ranked by Mortgage Executive Magazine as a Top 1% Mortgage Originator in America. In his time away from the office, Matthew loves serving in his local church’s children’s ministry with his wife, Maria.  Together they have 3 children, Miles, Millie, and Maverick.

Episode 154: Invest Local! Private Money Lending with David C. Barnett

August 14, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

Who is David C. Barnett?
How did David get into private money lending?
How does David look for deals that help improve the borrower’s business?
What’s David’s story?
What about doing financial deals?
What about commercial debt brokerage?
What did the limited power attorney allow David to learn?
Do we know what will happen in the future?
What about collateral?
What about Plan B?
What happens when things go south?
How do the wealthy stay wealthy?
What about the small deals?
What about doing a small deal with your own money?
What about the percentage?
What about selling the collateral piece if it doesn’t work out?
What about social, moral trust?
What about retail vs. wholesale investment?
What is a retail investment?
What does a bank do with a certificate of deposit?
What happens with the repo man?
How might you increase your rate of return?
Are these sort of deals the riskiest?
How do you build your network?
What about diversification?
What about risk and reward?
How do you find opportunities?
Should you put an ad out?
How do you connect with a club?
How do you build a network?
Where is the social angle?
How is a network self filtering?
What about credit reporting?
What are the advantages of a private deal?
Will it affect the borrower’s credit score?
What are the protections?
What about diversification?
What about the notes as an asset?
What about a rate with compound yield?
What happens if the zombie apocalypse happens?
What’s the worst case scenario?
What about Nassim Taleb’s barbell strategy?
What about the rattlesnake?
What about leverage strategies?
What about thinking about someone’s personal needs?
How might you benefit your borrower?
How might you collateralize?
What legal documents do you need?
How is personal property different from real estate?
What about the contracts?
Do you need to go in front of a judge?
If someone can’t make the payment, what’s likely happening?
What about a nuance in the language?
What’s a UCC filing?
What about creating a registration?
How do you choose which loans are worth it?
What are the rules in your state?
What is the limit on the interest you can charge?
What about consumption?
What about financing business needs or personal needs?
What are the circumstances that must exist for David to make a loan?
How does this increase cash flow?
How does this increase revenue?
How does this help them save money?
Why did David write this book?
Can you do deals on the side?
How much should you limit yourself?
How might you leverage deals with your knowledge and expertise?
Would you like to learn more at davidcbarnett.com?
Would you like to download his free book?
How might you invest in what you know?
Do you know your borrower?
Do you have liquid capital?
How might you be an ethical lender?
How might you provide a solution for those in need?
Would you like to leave us a review?
Send us a screenshot of your review to hello@nyafinancialpodcast.com, and we will send you a free book!

Get our episodes delivered right to your inbox so you don’t miss the amazing free content we’re giving out each week. Also get exclusive access to live calls, office hours and Q&A with me and our esteemed guests!

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David Barnett works with entrepreneurs around the world helping them to buy, sell and organize their small and medium sized businesses.

He’s the author of 8 titles on Amazon (Read David’s Books) and has been maintaining a YouTube channel (watch David on YouTube) covering these topics which has hundreds of videos.

Episode 147: To Win The Lottery, You Have to Buy a Ticket with Ros Kaspi

June 26, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

Who is Ros Kaspi?
What’s her story and background?
What were people telling Ros?
What caused Ros to change tracks?
Where did Ros find her opportunity?
What caused Ros to go out as an entrepreneur?
What about yoga?
What about a retreat?
What about a bed and breakfast?
What did Ros learn about opening a business?
Who was on her team?
What happened to her father?
What did Ros do in Chicago, and what did she learn?
What about happiness?
What about credit cards?
How is Israel different from the U.S., regarding credit cards?
What about Bank on Yourself type whole life insurance policies?
What about property?
What about real estate?
What’s an amazing way to buy property?
What was it like learning about the Bank on Yourself strategy?
What about the portfolio of policies?
How have the current events impacted her tenants?
Has the coronavirus impacted her income?
How has her perspective changed around money?
How is an employee mindset different from an entrepreneurial mindset?
How might your money work for you?
What does Ros love about Mark?
What about talking through ideas?
What about getting good feedback?
Do you have a personal financial advisor who is always there for you?
Is your financial advisor available?
What would Ros say to someone who is concerned about being too old?
How did Ros purchase a policy?
How did Ros purchase a cash property?
What are the things that intrigued Ros?
What other nuggets of wisdom does Ros have to share?
What other feedback does Ros have?
What about a “win the lottery” joke?
Do you move your feet?
How much do you want to make?
What direction do you want to go?
What about Bob Proctor, Jack Canfield and the mastermind group?
Isn’t that amazing?
How might we overcome obstacles?
If you could not leave money to your children or to the world, but only principles, habits and ideas to achieve success, what would those be?
Would you like to reach out to Ros? Email her at roskaspi@gmail.com!
Have you been sucked into financially difficulty?
What’s the next first step?
Are you the boss of your money?
Is your money ‘your employee’?
What does Ros want to add about the tax benefits?
What about the mastermind?
What’s the difference between success and failure?
What’s the difference between being alone and being together?

A world traveler, Ros Kaspi was born in Chicago, lived in Tel Aviv for many years, and in 2004 came back to Chicago to take care of her mother who just reached 99.

A business woman, an entrepreneur and Manager of a global company, she has experience and expertise. She studied Life Coaching with Bob Proctor and used his teachings to create Mastermind groups.

In recent years she has turned to real estate, purchasing condos, while using Bank on Yourself type whole life insurance policies to reach her real estate goals. Would you like to reach out to Ros? Email her at roskaspi@gmail.com.

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