Not Your Average Financial Podcast™

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

Episode 140: Krisstina Wise, How to Live Financially Immune

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In this episode, we ask:

  • Who is Krisstina Wise?
  • What is Krisstina’s philosophy?
  • What is the alternative mindset?
  • What about an unconventional approach to real wealth?
  • What do you prefer?
  • What about financial products?
  • What are the top 10 steps for being financially immune?
  • Who is this for? Who is this not for?
  • What about variable income earners?
  • What about micro-business owners?
  • What is a business?
  • What is an income-making machine?
  • How might we generate more income?
  • What is the ceiling?
  • What are the limits?
  • How well do we move money through our household?
  • How do you build your asset sheet?
  • What is the system?
  • What do you do when everything is out of your control?
  • What about being “financially vulnerable”?
  • What about being financially immune?
  • Would you like to visit financiallyimmune.com ?
  • What happened when the ship hit the iceberg?
  • Is it “game over”?
  • Is it about survival?
  • Where is peace of mind?
  • What is the first thing from the business point of view?
  • What is burn rate?
  • Do you know your numbers?
  • If I asked you, what is your burn rate, could you say it?
  • What is the vital sign of a business?
  • How do we lower your burn rate to survival?
  • Is this expense essential to survival?
  • Is it negotiable?
  • Is rent negotiable?
  • Is payroll negotiable?
  • Are we carrying extra weight right now?
  • What about in the household?
  • What about refinancing car loans?
  • What about refinancing mortgages?
  • What about entertainment costs?
  • If we just did one, what would we choose?
  • What can we do?
  • What are we capable of?
  • How might we add the burn rates together?
  • Are we responsible for the total burn rate?
  • Who can find the money in the business?
  • Who can find the money in the household?
  • How might we reframe a tragedy?
  • What does this financial tragedy make possible?
  • What can we now do?
  • Where are the geniuses?
  • Are you grateful for genius creativity?
  • What is the next level of creativity?
  • How might you stockpile cash?
  • How is cash like water?
  • How is cash like oxygen?
  • How do we stockpile the cash funds?
  • Who is feeling the stress right now?
  • Where is the runway?
  • How long can we go?
  • How much runway do we have?
  • How much do we have in reserves?
  • Do you have 30, 60 or 90 days?
  • Where do you have liquid funds?
  • How is Krisstina using a whole life policy loan?
  • What about the Becoming Your Own Banker philosophy?
  • What about a cash out refinance?
  • What about real estate purchases?
  • What about the investor mentality?
  • What are some different ways to get cash?
  • What about debt?
  • What about negotiating terms?
  • What is your run rate?
  • Do you have predictable income?
  • Where is the revenue of the business 30, 60 and 90 days?
  • Can you predict it?
  • What do I need to break even?
  • What is the business strategy to be net zero?
  • How is this better to know?
  • What is the run rate on the personal side?
  • How are you solid?
  • How are you just fine?
  • What about burying your head in the sand?
  • What about fear?
  • How do we get “unstuck”?
  • What makes all the difference?
  • Where is the genius within?
  • What have I collected?
  • What do I have right now?
  • How long will it last?
  • What do we need?
  • What if we woke up today and forgot our memory?
  • How might we think like a start-up?
  • When is the time to do it?
  • Game on?
  • How might we be part of the solution (and not part of the problem)?
  • Are you able to pivot and play a new game?
  • Are you stronger?
  • Are you resilient?
  • Are you willing to learn the lessons?
  • Will you be ready the next time this happens?
  • How might we support you? Schedule a call with Mark

 

 

Krisstina Wise is a real estate mogul, Millionaire Coach, and creator of several multi-million dollar businesses including Goodlife Luxury, The Paperless Agent and most recently, WealthyWellthy. She is also an international speaker and the award-winning author of the Amazon Best-Seller Falling for Money, a romance novel for your bank account. Named one of the 100 Most Influential Real Estate Leaders in the country, she has been featured in USA TODAY, as well as by Apple, Contactually and Evernote for her creative leadership with emerging technologies.

 

Episode 128: Seven Reasons Bank On Yourself® is Legitimately the Real Deal!

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In this episode, we ask:

  • What are the core reasons why Bank On Yourself® is the real deal?
  • Who is The White Coat Investor, Dr. Jim Dahl?
  • What did he write about Bank On Yourself®?
  • What did Ted Benna, the father of the 401(k), say?
  • Where is Ted Benna parking his money?
  • What are Ted Benna’s three reasons why we should be weary of 401(k) plans?
  • Who is Jim Harbaugh?
  • What is a split dollar loan agreement?
  • What is the nature of Jim Harbaugh’s arrangement?
  • Could a business own a whole life insurance policy?
  • Why would a business want to own a policy?
  • Can a life insurance policy act like a deferred compensation plan?
  • What about Babe Ruth’s life insurance policy?
  • Would you like purchase a replica of Babe Ruth’s policy?
  • Have you heard Episode 66?
  • Are you still skeptical?
  • Have you read the Pirates of Manhattan?
  • What do the banks do with their assets?
  • What about Enron founder, Ken Lay?
  • What about Lehman Brothers?
  • What is Tier 1 capital?
  • Does life insurance qualify as Tier 1 capital?
  • What did your grandparents do with their whole life insurance policies?
  • What was the most popular life insurance product from 1940-1970?
  • What happened in 1981?
  • Have you heard Grandma’s Wealth Wisdom podcast?
  • What is 10x safer than a bank’s savings account?
  • Why are banks so eager to keep your cash on hand?
  • What is fractional reserve banking?
  • How much can banks loan out?
  • What is the Dodd Frank Act?
  • What are the reserve requirements for life insurance companies?
  • How much does the well capitalized life insurance company have to have on hand?
  • What is the big difference in reserve requirements between banks and life insurance companies?
  • Have you read How Privatized Banking Really Works?
  • How do the life insurance companies invest their funds?
  • How much do life insurance companies have to keep liquid?
  • How much do life insurance companies have to have to pay death benefits?
  • How are life insurance companies strictly regulated?
  • What happens if a life insurance company gets into difficult times?
  • What are the additional protections?
  • How have many life insurance companies been able to pay a dividend for over 100 years?
  • Why do life insurance companies under promise and over deliver?
  • Have you heard Episode 118?
  • Have you heard Episode 106 and 107?
  • How does the insurance industry support the infrastructure across the U.S.?
  • What is the unique business model of the insurance companies?
  • How can the insurance companies get a better yield?
  • If this was a big scam, how could the insurance company build so much?
  • What do the investments of the insurance companies look like?
  • Is the money still liquid?
  • What usually constitutes a scam?
  • When do most people lose their skepticism?
  • How does life insurance cash value benefit families, businesses and other individuals?
  • What about the disclosures?
  • What is concealment?
  • What about the paperwork?
  • What about the disclosures from a prolific insurer, Mass Mutual?
  • What are the myths and truths about life insurance?
  • What about subscribing to the research from Pamela Yellen’s work?
  • What are some takeaways?
  • Should you believe everything you read on the internet?
  • What sources have authority?
  • Have you read Financial Independence in the 21st Century?
  • Would you like to buy this book?
  • What about Investopedia’s guide to dividend paying whole life insurance?
  • Have you heard Episode 74?
  • Have you heard Episode 55?
  • Have you heard Episode 6?
  • Have you heard Episode 36?
  • Have you heard Episode 91?
  • Have you heard Episode 110?
  • What is your favorite or most memorable money mistake? Leave us a message and let us know!
  • Would you like a free copy of Pamela Yellen’s latest book?


 

Episode 127: Is Bank on Yourself® a Scam? A Nerd’s Eye View on Policy Loans and Michael Kitces

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In this episode, we ask:

  • Is Bank on Yourself® a Scam?
  • Who is Michael Kitces, and why do we respect him so much?
  • What did Michael Kitces write about Bank on Yourself®?
  • Would you like to read Pamela Yellen’s responses to his analysis of Bank on Yourself®?
  • What does Kitces say about permanent whole life insurance loans?
  • What does Kitces say about growth in a whole life insurance policy?
  • What is a non-direct recognition policy loan?
  • Have you heard Episode 110?
  • What does Kitces say about access to cash value?
  • What does Kitces say about loans causing policy lapse?
  • What does Kitces say about taxable gains?
  • Should you take a home mortgage?
  • What are the consequences of not paying a debt back?
  • What happens to life insurance policy loans when one dies?
  • What happens with debt forgiveness?
  • Why does Mark work with Pamela Yellen’s Bank on Yourself® authorized advisors group?
  • What else does Kitces say about permanent whole life insurance loans?
  • Would you like to learn more about taxes and life insurance loans?
  • What other financial vehicle allows for this?
  • What are the key structures in a properly designed Bank on Yourself® type whole life insurance policy?
  • What is an indexed universal life insurance policy (IUL)?
  • What is a crediting rate?
  • Can you build a Bank on Yourself® type whole life insurance policy on an IUL product?
  • Do whole life insurance policies have crediting rates?
  • Would you like to learn more about indexed universal life insurance policies (IUL)?
  • Why is the Bank on Yourself® brand important?
  • Should you worry about life insurance policies lapse?
  • Do you have a mortgage? Could you lose your mortgage? Could you lose your house?
  • What if half of your mortgage payment was optional?
  • Can you have discipline with your finances?
  • Do you have a well trained advisor who truly understands the proper way to build and care for a Bank on Yourself® type whole life insurance policy?
  • What is Michael Kitces biggest blind spot in his article?
  • Do you finance everything you buy?
  • Do you use traditional financing?
  • Do you take loans from auto companies?
  • Do you take loans from a FDIC insured bank?
  • Do you take loans and pay them back according the preset schedule?
  • After the traditional loan, what do you have left?
  • What about leasing?
  • What do you have at the end of a lease?
  • What about paying cash instead of financing?
  • Do you save up and pay cash for everything?
  • Do you replenish your savings?
  • When you pay cash, aren’t you actually borrowing from yourself?
  • How much interest are you earning on the money you withdrew?
  • When will you begin earning interest?
  • Are you paying interest, passing up interest or earning interest?
  • How is paying cash like stealing from your future self?
  • Would you like to learn more about opportunity cost?
  • What does a Bank on Yourself® type whole life insurance policy loan offer?
  • What are your thoughts on this?
  • Who do you know who needs to hear about this?
  • Would you like to leave us a review? Send us a screenshot of your review to hello@nyafinancialpodcast.com, and we’ll send you a free book!

Episode 120: Are You Investing and Banking at Retail Prices?

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In this episode, we ask:

  • Are you ready?
  • What is the most wonderful shopping season?
  • Would you like to retire right now?
  • What is it we’re talking about when we talk about money?
  • Can you meet your life goals without money?
  • Should we put money in the stock market and wait?
  • What are taxes going to do?
  • Will you get more than a 10% return on your money?
  • What can you expect from the stock market?
  • Why does Dave Ramsey still quote 12% annually on mutual funds when advisors aren’t allowed to do that?
  • What are real investors actually receiving, according to DALBAR?
  • What about fees?
  • What are the ongoing costs?
  • What are 12b1 fees?
  • What are other expenses?
  • What about redemption fees?
  • What about exchange fees?
  • What about the account fee?
  • Do you have to keep a minimum balance in that fund?
  • How might you think outside of the “retail” investing space?
  • What if you could invest at “wholesale” prices?
  • What is a REIT?
  • What about a private equity fund?
  • What is the trouble with wholesale shopping?
  • What about getting the top of the line model?
  • Are you giving up liquidity?
  • Does the government regulate who has access to wholesale?
  • What is an accredited investor?
  • How might you shop direct?
  • Do you increase your return with direct investing?
  • Do you increase your risk with direct investing?
  • Do you increase your control with direct investing?
  • How can you increase the tax benefits?
  • Would you like to defer your tax?
  • What about a Roth IRA?
  • What about offsetting rent income with expenses?
  • Can you do this inside a Roth IRAs?
  • What is the disadvantage of a self-directed IRA?
  • What about a professional real estate investor?
  • Who is blocking you when you’re a direct investor?
  • How can you eliminate the bank from the equation?
  • What about the function of banking at the retail, wholesale and direct levels?
  • What about Bank on Yourself® type designed whole life insurance policies?
  • What if you could become a banker in the direct sense of the word?
  • Are you a private money lender?
  • What happens when banks stop lending?
  • Could you offer your friends or family a better rate and better terms?
  • Could you become a lender to improve your financial picture?
  • How many fees are in your portfolio?
  • Are you an accredited investor?
  • Have you seen crunchbase.com?
  • Do you budget your cash value?
  • Have you started using YNAB (youneedabudget.com)?
  • Would you like to talk with us about making your financial picture more direct?
  • We have a question for you… Is Bank on Yourself a scam? Let us know at speakpipe.com/nyafp
  • Would you like to leave us a review at Apple Podcasts?
  • Would you like a complimentary copy of Pamela Yellen’s latest book?

Episode 118: How to Triple Your Net Worth Building Real Wealth with Dan Proskauer and Alan Eckstrand

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In this episode, we ask:

  • Who is Dan Proskauer?
  • How did Dan triple his net worth?
  • How long has it taken Dan to triple his net worth?
  • How many years has Dan been keeping up with his net worth in Quicken?
  • What was the first thing that Dan did with his policy?
  • How many Bank on Yourself type policies does Dan own?
  • How did Dan restructure his money?
  • What can you do if you have enough money?
  • Do you need to take the risk?
  • How has having a policy helped Dan invest wisely?
  • How has Dan been able to take advantage of opportunities?
  • What did Dan do with his profits?
  • What is so special about the paid up additions rider?
  • Why did Dan switch from paying premiums monthly to annually?
  • How does Dan carry debt?
  • How does Dan “blow up the balloon”?
  • How has Dan leveraged a HELOC?
  • How will one’s net worth be impacted over time?
  • How many of Dan’s kids are in school?
  • How has Dan built real wealth?
  • Is Dan special?
  • Do all Bank on Yourself type policy holders have a chart like this?
  • Would you like to see the chart?
  • Is Bank on Yourself a scam? Leave us a voice message with your thoughts and questions on speak pipe! 

Dan Proskauer is Vice President of Engineering United Health Group’s Optum unit and has spent nearly 30 years as a professional in the Semiconductor and Health Care industries.

He is an engineer by personality and by training and has always been fascinated by details and numbers. Dan has been a Bank on Yourself practitioner since mid-2009 and has started new policies as recently as last year.

Special thanks to Jeff Hochwalt (jeff@financialrp.com) and Alan Eckstrand (alan@thefinancefixer.com) for joining us on this episode!

 

 

 

 

Episode 114: The 8 Rules for Bank on Yourself® with Jim Conrad

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In this episode, we ask:

  • Who is Jim Conrad?
  • Would you like a FREE copy of Pamela Yellen’s new book, Rescue Your Retirement?
  • Send us a screenshot of your new iTunes review to hello@nyafinancialpodcast.com, and we’ll send you a copy of the book!
  • What can you do with a dollar?
  • What are the 8 rules for Bank on Yourself® type Whole Life policy?
    • 1. A Bank on Yourself® type Whole Life policy gets better every year, and there is nothing you can do about it.
    • 2. There is no such thing as paying too much premium.
    • 3. Pay as much premium as you can, for as long as you can.
    • 4. Always use your own capital… did I say always?
    • 5. Never save up money in somebody else’s bank.
    • 6. Pay back your policy loans in a reasonable amount of time.
    • 7. Favor paying premium over paying back loans quickly.
    • 8. If you bank on yourself, you can forget about interest rates and rate of return.
  •  Have you heard Episode 6?
  • Does something becoming more efficient every year violate the laws of physics?
  • Do you know anything else that gets better every year?
  • Is there such a thing as paying as paying too much premium?
  • Would you like to watch Jim’s Dollar Diagram video?
  • How many policies does Jim own?
  • How can you make major purchases over and over again?
  • Why would you want to put money into a risk investment?
  • Why is this so powerful?
  • What is the math on PUA premium growth from age 21?
  • Should you do this if you’re younger?
  • How is Jim living proof that it works?
  • How long can you keep paying premium?
  • Why is paying premium a privilege?
  • Why wouldn’t you want to keep putting money into that money machine?
  • Isn’t the look of a curve beautiful?
  • If you have a money machine in your living room, and you put one dollar in and four dollars come out, how many dollars would you put in the money machine?
  • Why should I borrow against my own policy if I can get a lower interest rate a credit union?
  • What is the flaw in this thinking?
  • Can you enrich yourself and the bankers?
  • How might you enrich yourself?
  • Why would you like to build up the wealth of others, when you can build your own wealth?
  • Are you in the habit of keeping tens of thousands in the closet?
  • Do you own a properly structured Bank on Yourself® type Whole Life policy?
  • Why would you want to enrich those who profit from fractional reserve banking?
  • How might you pay back your policy loans in a reasonable period of time?
  • What is a reasonable period of time?
  • How does one determine what is reasonable?
  • Why do people pay off loans quickly?
  • Can you afford to buy that thing?
  • Are you “stealing the peas”? (As Nelson Nash would say…)
  • Can you favor paying premium over paying back loans quickly?
  • How much of your available cash flow should be used for paying back loans?
  • How much of your available cash flow should be used for premium?
  • Should you put your dollar into PUAs or toward a policy loan?
  • Should you always favor paying premium?
  • What happens when you’re no longer earning active income?
  • Should you pay off your loans before retirement?
  • How have we been trained?
  • How can you think differently than the way the rest of the world thinks?
  • What? Jim? Did I hear you right?
  • Shouldn’t you get the lowest interest rate you can get?
  • Where will your death benefit go?
  • What is the rate of return on guaranteed growth over unknown growth?
  • What about interest rates?
  • Are higher interest rates great?
  • How does the volume of interest go down over the growth of the loan?
  • What about dividends?
  • What has to happen for Jim to throw a party?
  • Would you like to watch Jim’s Dollar Diagram video?
  • Would you like to talk with Jim? Email him at jim@conradfinancial.us
  • What did you take away from today’s episode?

Jim Conrad, the President of Conrad Financial Services, resides with his wife, Deb, in Concord, North Carolina.  Jim started working for his clients in financial services 20 years ago, after a 25-year career in management with a Fortune Top 10 company.  He grew up in the Chicago suburbs, and he hold a B.S. in chemical engineering from Purdue University and an MBA from Lewis University.

Jim has been a Bank On Yourself Authorized Advisor for the past 13 years.  His passion is  helping people achieve financial peace of mind by owning a strategy they can count on for life.

Episode 111: Should I Do a Bank On Yourself® type Whole Life Insurance Policy or a Roth IRA?

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In this episode, we ask:

  • What has Amanda learned as a sample of one?
  • Who are Brandon and Amanda Neely?
  • What is Mark’s relationship with Brandon and Amanda?
  • If we did something different, what would the results be?
  • Would you like to follow along with the numbers? (See tables below)
  • Would you like to watch this in video?
  • What are Amanda’s numbers?
  • Are agent commissions too high?
  • What would the assets under management fee be?
  • What would the term insurance commission be?
  • What happened in 2008?
  • How much more would the investment advisor make?
  • Why is there a Wolf of Wall Street but no “wolf of insurance”?
  • What happens if you need or want your money prior to age 59.5?
  • What would your heirs receive when you pass?
  • What taxes would your heirs pay?
  • What are the tax considerations when you start using the money?
  • What happens if you get cancer or some other chronic or terminal illness?
  • What happens if you get sued?
  • What happens if you die too young?
  • What happens if you die too old?
  • What happens if the stock market goes down when you’re 36? How about when you’re 60?
  • Which side has guarantees?
  • Is the amount going in each year flexible?
  • What if you wanted to put in more? Or less?
  • What are the tax consequences now?
  • What are the tax considerations before you’re 59.5?
  • How many life insurance policies does the Neely family own?
  • How does the Neely family use their policies?
  • How can you use these specific policies to more effectively pay taxes?
  • Have you seen the webinar on Episode 84 The Past, Present and Future of Paying Your Taxes?
  • Have you heard Episode 87, How to Get Wealthy While Paying Your Taxes?
  • What income could this 35 yo female expect?
  • What is the life expectancy?
  • What is the difference between the term / Roth IRA and the Life Insurance policy?
  • How much does the fee on the Roth IRA become?
  • What about an older person’s strategy?
  • Have you heard Episode 91, Great Problems, Giant Piles of Cash?
  • How are mutual life insurance companies dealing with the low interest rate environment?
  • How do policy loans at 5% interest affect the insurance company’s performance?
  • When is the increase always greater than cost?
  • Would you like Brandon or Amanda to run this comparison for you with your numbers
  • Schedule a Comparison conversation with Brandon or Amanda



 

Episode 110: [Mythbusters] Wait! Did I Just Pay For This Twice?

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In this episode, we ask:

  • Would you like to leave us a review?
  • Do you experience panic moments?
  • Have you ever felt panic around a policy loan?
  • Have you heard Episode 34?
  • How exactly does a policy work?
  • Would you like to discuss this with us?
  • What happens when you take the first loan out?
  • What about buying a new car with a policy loan?
  • Do you ever ask, “Did I just make a terrible mistake?”
  • Didn’t I pay for the car twice?
  • Is taking a policy loan better than paying cash?
  • Is the loan payment on top of premium?
  • Doesn’t it feel like you’re buying the car all over again?
  • Are you the banker and the borrower at the same time?
  • Why do bankers add capital to a bank?
  • Who comes in the front door of a bank?
  • Why do bankers love it when borrowers pay back loans?
  • Are banks looking for capital?
  • Are you setting up an actual bank?
  • How might you recapture the banking function?
  • What is a reasonable period of time?
  • What is the big idea?
  • What might you use as collateral?
  • What have you been saving for?
  • How does a Home Equity Line of Credit (HELOC) work?
  • How do people use HELOCs to finance education (or other life purchase)?
  • What are the problems with using a HELOC?
  • What are the benefits with a Bank on Yourself type policy?
  • What are the problems with 401(k) loans?
  • What are the benefits with a Bank on Yourself type policy?
  • What does this look like in an example with real numbers?
  • When you take a policy loan, where does it come from?
  • How does the policy continue to grow, even with policy loans?
  • What is a non-direct recognition loan feature?
  • Have you heard Episode 83?
  • Which companies offer non-direct recognition?
  • Does the insurance company charge you interest on a whole life insurance loan?
  • Are you able to skip a payment on a life insurance loan repayment?
  • Is the loan interest simple or compound interest?
  • Could the policy lapse if you take a very large policy loan?
  • How can you manage the policy in a healthy way?
  • What happens when you take money from a savings account?
  • Is there an opportunity cost with a policy loan?
  • When do you have to pay the policy loan off?
  • Do you interrupt the growth of your money when you borrow it?
  • Am I saving enough to have the money to make the purchase I want?
  • How will I make the purchase? Will I pay cash? Will I go into debt? Will I take a policy loan?
  • Have you heard Episode 54 yet?
  • Have you heard Episode 71 yet?
  • Isn’t this twice as nice?

 

Episode 109: How to Become Your Business’ Line of Credit (and Beat your Competition) with Scott Plamondon

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In this episode, we ask:

  • Has your crystal ball come in the mail yet?
  • Do you have a line of credit?
  • Do you have a business collateralized loan?
  • Who is Scott Plamondon?
  • Have you heard the Grandma’s Wealth Wisdom podcast with Brandon and Amanda Neely?
  • When did Scott join the Air Force?
  • When did Scott start as an accountant?
  • When did Scott move to California?
  • Are most business loans rejected?
  • Why do so many businesses fail?
  • How did Scott start working with business owners?
  • What is the client’s story with the line of credit?
  • What’s Brandon and Amanda’s story?
  • How does this client use a Bank on Yourself type whole life insurance policy to create a line of credit for the business?
  • How did Brandon and Amanda use their Bank on Yourself type policy to deal with a flood at their business?
  • How did Brandon and Amanda use their Bank on Yourself type policy to sell their business?
  • What did Scott’s client want?
  • What was the result?
  • How are policy loans more graceful than bank lines of credit?
  • What about when business isn’t great?
  • What about when business is thriving?
  • How does this strategy affect retirement?
  • Who will be the most resilient when the economy turns?
  • How could this client interact with his competitors?
  • Can this client take a break from repaying the loan if his business hits a rough patch?
  • How much control do you have?
  • What is the spiraling cycle?
  • What is a daily interest loan?
  • What about paying excess interest?
  • Why do business owners love to reinvest in their own business?
  • Did Scott get any pushback from other CPAs or accountants?
  • What opportunities have Scott’s clients been able to take up?
  • What’s bigger than a rate of return?
  • What other things should be factored in?
  • How might you take advantage of opportunities?
  • What opportunities emerge from downturns?
  • Are you already in the banking business?
  • Which side of the banker’s table are you sitting on?
  • Who is Nelson Nash? Have you heard Episode 95 and Episode 96?
  • What is the average age of an entrepreneur?
  • What if you never had to depend on banks?
  • What if you do decide you want to start your own business in the future?
  • How can you work with Scott Plamondon?
  • Do you know someone who has been burned by the banks?
  • What percentage of businesses have their loan requests rejected?
  • How many receive a loan?
  • What can the bank do?
  • What happens when a bank calls the loan?
  • Is it about the internal rate of return?
  • Does opportunity seek out those who have liquidity?

For over 28 years Scott Plamondon has been successfully helping people plan for retirement. He uses his accounting and investment background combined with a deep understanding of his client’s financial needs, to offer the best possible strategies.

Scott earned a Bachelor of Science degree in Business Administration from New Hampshire College. He is a Chartered Life Underwriter (CLU) and he has a Personal Financial Planning Certificate (PFP) from the University of California, Irvine. He is fully licensed in life and disability insurance, and annuities.

Scott served in the US Air Force from 1984 to 1987. He is married with two daughters and resides in Mission Viejo, California where he is an active member of the community.

 

 

Episode 107: Adventures in Financial Planning with Tim Austin, Part 2

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In this episode, we ask:

  • What are the four categories?
  • Have you taken an inventory of your life?
  • What are the potential places to improve?
  • Are you taking advantage of all opportunities in tax savings?
  • What can you do to control your cash flow on a monthly basis toward how you’re paying off debt?
  • Can you consolidate debt?
  • How can you shift that to savings?
  • What can we do to create financial independence in our lifestyle?
  • Are you inappropriately putting too much money in risk assets that aren’t really serving you well?
  • What are the steps?
  • How might you take inventory of your current allocations?
  • How might you accept where you are?
  • How might you take small baby steps?
  • What does one percent daily improvement do over the course of a year?
  • Does saving in a whole life insurance products mean sacrificing returns?
  • What does the word risk mean?
  • What do markets do?
  • Are we in a boom right now?
  • When was the last bust?
  • Do you invest when the market is low?
  • What happened in 2005?
  • Why do we buy high?
  • How has Tim’s net worth reached a new high every single day?
  • What did Tim do with his brother?
  • What is a buy-sell policy?
  • What did Tim do in 2019?
  • What advantages does Tim have?
  • When did speculation start to take hold in our culture?
  • What were the rich people doing in the 60s?
  • Do you have a realistic expectation of the 401(k)?
  • Will the market do the 12% every year?
  • Is your home your best asset?
  • Is your home paid off?
  • Do we need to live in bigger homes?
  • Should we buy lattes four times a week?
  • Why does Tim pay a trainer four times a week?
  • Who can help you?

 

Tim Austin is President and Founder of SET for Advisors, a leading training organization for financial advisors who want to help their clients grow wealth predictably and without taking unnecessary risk.

He is also the co-founder and director of the Bank On Yourself authorized advisor whole life insurance concept along with best-selling author Pamela Yellen who wrote the book Bank On Yourself: The Life-Changing Secret to Growing and Protecting Your Financial Future.

Bank On Yourself is a major best seller, hitting #1 on the USA Today and Amazon best-seller lists, and is also a New York Times, Wall Street Journal and Publishers Weekly #1 best seller.Tim makes his home in Clarkston, Michigan with his wife and three children.  Tim likes to test the limits of his physical ability and mental toughness participating in Half Iron Man Triathlons and marathons.