Retirement Costs

Episode 364: Don’t Make Your Financial Life a Daytime TV Drama

August 23, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

How about the young and the rest of us?
How about the bold and the broker?
How about general hospital, finance wing?
How do we cope with the drama?
Would you like to hear Episode 363?
Would you like to hear Episode 144?
What about debt to your future self?
What about liabilities?
What about assets?
What about student loan debt?
Who is stuck in the cycle of debt?
Who passes on the cycle of debt to the next generation?
Why are they in debt?
What happens when you take a life insurance policy loan?
How can you beat cash?
What happens if you need to buy a car?
What is the average retirement savings?
What about the boomers?
Who will be able to retire?
What are the options?
What about savings?
How many retirees plan on depending on Social Security?
How much would the reduction be?
Do you like cliffhangers?
How about a real happily ever after?
Would you like to schedule a meeting with Mark?

Episode 358: From Panic to Peace of Mind – The CURE Strategy for Late Stage Retirement Planning

July 12, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Did something or someone take you out?
Can you retire at all?
What are some tactical strategies?
Do you feel behind?
What happened to the stock market?
What happened in 2022?
What does one need to keep up with inflation?
What happened to the average 401(k) balance?
How long does it take to break even?
What is a single premium policy?
What about the fixed paid up additions rider?
What are the costs of the C.U.R.E. strategy?
What is the growth potential on this strategy?
How about a case study?
What about the tax?
What about risk?
What are the two stage rocket strategy stages?
…What to do?
What about a catch-up retirement engine?
How about the numbers?
What happened?
Would you like to hear Episode 271?
Would you like to hear Episode 150?
Would you like to hear Episode 83?
What are the takeaways?

Episode 356: Your 401(k) Will Be Gone within a Decade

June 28, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

What lasts forever?
What could be happening right before our eyes?
What did the February 2024 Bloomberg article say?
How old is a 401(k)?
Are we still living through the great experiment of a 401(k)?
Is it forced?
Who is going with the flow?
Is it just automatic and easy?
What’s the point?
Why are many people starting to scrutinize 401(k) accounts?
What will happen?
What about the tax benefits?
Why bother at all?
What are you agreeing to?
What about the book 401 (not) Ok?
Do you want anything on this list?
What is sacrilegious?
Is that money all yours?
How much is in a 401(k)?
How much of that belongs to the owner?
What about the vesting trap?
Who else gets a portion?
Are tax rates going down?
Is it “monopoly money”?
What is a ticking time-bomb?
What’s the solution?
What are employer sponsored liquid accounts?
What about penalty?
What about liquidity?
What are the taxes?
What about the gains?
How is this different from a Bank on Yourself® type whole life insurance policy?
What do studies show?
What about automatic employer contributions?
Would you like to speak with Mark?
Is it easy to withdrawal money from a retirement account?
What is gone?
What is a downfall?
Does the money stop growing?
What continues to grow?
What about big life expenses, like paying for college?
Is there a vesting schedule with the Bank on Yourself® type whole life insurance policy?
What grows tax-deferred?
What represents real wealth?
What is locked in, even when the market takes a crash?
How old is the Bank on Yourself® type whole life insurance policy?
Why do we keep using a 401(k) for retirement planning?
Would you like to hear Episode 9? Is it time to retire your 401(k)?
Would you like to hear Episode 10? Your 401(k) – who is benefiting the most?
Would you like to hear Episode 11? A 401(k) – How’s that working out for you?
What are the takeaways?
What is the true cost?
Would you like to meet with Mark or an associate?

Episode 355: The Ultimate 401(k) Upgrade – Tax-Free Income and Market Protection

June 21, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

What is finite?
How do we solve that problem?
What can be converted into a lifetime stream of income?
Is there a stream of income that you cannot outlive?
Would you like to hear Episode 354?
How can you get through your retirement without coughing up a third of your income into taxes and fees?
What about the allegory of the cave?
What about the fear of change?
Who has a 401(k)?
Did you know…?
What could take about half of your life savings away?
Are you one of the lucky ones?
Would you like to hear Episode 79?
How much would one have after taxes and fees?
How much could one take per month?
What about another way?
What if one could spread it out slowly?
What happens in systematic withdrawal?
What are some possibilities?
Who would like to preserve the wealth?
How about an example?
What about annuities?
What about fun?
What would you rather have?
Would you like to meet with Mark?

Episode 352: Right-Sizing Bank on Yourself®, A Real Estate Power Couple’s Story with Lindsay and Ryan Rice

May 31, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Have you ever wondered what it takes?
What are the struggles?
Would you like to hear more from Lindsay and Ryan Rice of Rice Properties Group?
How did they get started?
How did they nurture and generate a referral-based business?
What about relational business?
What about transactional business?
How about serving people?
How do they manage?
How do they work together and set goals?
What about life insurance?
What about Bank on Yourself® type whole life insurance policies surprised Lindsay and Ryan?
How have they leveraged their policies?
What about taxes?
What about retirement?
What about cash flow?
What’s the difference between a challenge and a burden?
What happened in 2021?
How about variable income?
What about reinstating a policy?
What happens once your policy is filled?
How does one determine the right size for a policy?
Would you like to meet with Mark?
Would you like to hear Episode 203?
How about some words of wisdom?
How is this like working out?
Would you like to search for Rice Properties Group?
What are the takeaways?
What are the action items?
How about the power of uninterrupted compound growth?
How about resilience in challenging times?
Is your current plan the right size?

Lindsay and Ryan Rice are the entrepreneurial spirits behind Rice Properties Group, a real estate powerhouse built on the foundation of love, partnership, and a steadfast commitment to financial mastery. Their journey began as colleagues, where they not only excelled in sales but also found love, becoming the company’s first couple to transition from quiet dating to marriage. Their shared experiences at the startup, which has since become a multi-billion-dollar enterprise, laid the groundwork for their future endeavors in real estate.

Episode 351: The Unseen Dark Forces in Your Retirement Plan

May 24, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

What about the hidden things in your financial life?
Would you like to hear Episode 343?
What is the hidden dimension to our financial portfolios?
What is financial dark matter?
What is price?
What are the fees?
What is obscure?
What erodes wealth?
What is small, invisible but constant?
What are the consequences?
What about the illusion of progress?
What might send ripples through your financial plan?
What did JAMA say about wealth shocks?
What is the opportunity cost?
Are we doomed to the dark matter?
Why are we huge fans of the Bank on Yourself® strategy?
What is the aha! moment that changes everything?
What about peace of mind?
Do you know your money is going to do a certain thing?
What about owning the number?
Do you have a contract with your future?
How is this different from a 401(k) or a IRA?
Who is phased out of the Roth IRAs?
How much are you allowed to put in?
Can you have a financially secure future on the ROTH?
Is it liquid?
How can you access to the money?
What about penalties?
Who is tapping retirement accounts?
What did a recent Vanguard study say?
What retirement savings do Gen X members have?
What about living from paycheck to paycheck?
What about living on credit cards?
What about borrowing from a 401(k)?
What about credit reporting?
Would you like to listen to Episode 206?
What is one of the only ways you can be taxed twice on the same dollar?
What about being on a forced repayment plan?
Where does the money come from?
What about an after action review (AAR)?
What was the plan?
What went right?
What went wrong?
How might we do better next time?
What about an example?
What is the key takeaway?
What about constant refinement along the way?
What would it look like if it were easy?
What would money look like if it were easy?
What characteristics or attributes would it have?
How would you change?
What would you do about it?
What is the first step?
How do you feel?
What do you want more?
What did Lawrence Peter say?
Would you like to meet with Mark?

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 339: How Bank on Yourself® Solves the Four Greatest Dangers to Your Retirement

March 1, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Who do you know who needs to hear this?
Would you like a free book?
What are the four greatest dangers to your retirement?
Did you hear Episode 338?
How does the Bank on Yourself® type whole life insurance policy solve these dangers?
What does Pamela Yellen do to protect the intellectual property and quality of the Bank on Yourself® brand?
Are you getting a correctly and properly designed dividend paying whole life insurance policy?
Did you buy an incorrectly designed policy? Would you to book a meeting with us to get a second set of eyes on that policy?
Are you working with a Bank on Yourself® Professional?
Would you like to hear Episode 160?
What about predictable guaranteed growth, liquidity and tax advantages?
When do you need money most?
Where does the guarantee come from?
What about dividends?
How long have our companies been paying dividends?
What is the minimum amount of saving you will have on the day you plan to retire?
Who audits the life insurance companies?
How rare is it for insurance companies to go bankrupt?
Who backs the insurance companies?
Are banks a safe place to keep money?
How many banks failed in 2008?
What happened to the deposits of those banks?
Who bailed them out?
Pop quiz?
How many life insurance companies failed in 2008?
What happened to Lincoln Memorial Life Insurance?
What was the result for the policy holders?
What is Bank Owned Life Insurance?
What did an FDIC report show about bank’s life insurance holdings?
How much cash value is on the balance sheet of these banks?
What are banks doing with their money?
What about fees and cost surprises?
What happens in a traditional retirement account with fees of 1%?
How much is paid to life insurance agent as commission?
Which one costs more?
Which one goes on forever?
Which one has a stop loss?
Who gets guarantees?
Why would Bank on Yourself® Professionals take reduced pay?
How much of your cash value can you access?
What are the RMDs on whole life insurance?
Who is in complete control of the money in a life insurance policy?
What do you finance?
Who pays interest?
Who earns interest?
What about assets under management (AUM)?
What about all of the dollars you pay in expenses throughout your life?
What is the required repayment scheduled on life insurance cash value loan balances?
Can your money do two things at once?
What is compounding and growing?
Who offers these unique products?
What about self financing?
Are you constantly interrupting the growth of your money because you need to buy stuff?
Is there a better way?
What are some famous examples of successful business owners?
What happened following the 1929 stock market crash?
Does having money safe, liquid, growing at a competitive rate without market risk, take away any of your options?
Doesn’t it give you more options?
What are the multiple tax advantages?
Do you know what your tax bill will be?
What about the tax on social security?
Is income taken from your policy taxable?
What about medicare premium?
What about business owners financing business expenses?
What about the death benefit?
What do you want your money doing for you?
Does your strategy give you guaranteed growth?
Does your strategy lock in your principal in growth?
Does your strategy give you control over your money?
Does your strategy let you use your money without penalty?
Does your strategy give you a tax free retirement income?
What gives you more freedom?
What about Roth accounts?
What about life insurance policies?
Does your strategy let you access your money without liquidating your cash?
What are the restrictions on 401(k) loans?
What hardship happens if you lose your job?
What is truly unique in the financial universe?
Would you like to hear more in Episode 205 and Episode 206?
Does your strategy finish funding yourself if you die prematurely?
Does your strategy let you know the minimum guaranteed value of your savings?
Does your strategy give you a plan where you can count on it?
What works to your advantage in every single instance here?
What do you want your money doing for you?
How about some case studies?
What makes sense in your situation?
Why work with Mark Willis, CFP®?
What is key to making sure your policy is designed properly?
Do they have the right credential?
Would you like some personalized reports?
Would you like to schedule a meeting?

Episode 338: The Four Dangers of Conventional Retirement Plans and What to Use Instead

February 23, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

How about getting back to basics?
Do you need a PhD to be successful?
Who can opt out of the insanity?
Has conventional retirement planning failed us?
Have 401(k)s failed?
What happened to pensions?
Is it up to us?
What is the cost of care?
What are the problems?
Do you believe there will be another major market crash?
Who has changed their behavior?
Who is guaranteed to get paid?
What is sequence of returns risk?
What about the 4% rule?
What did Wade Pfau say?
What about a 2.8% withdrawal rate look like?
What will you need?
How many years of savings do you have set aside?
What are your investments going to be worth?
How many of us will live past age 90? …age 95?
What might eat away at your savings?
How much are you actually paying in fees?
What about compounding?
Are fees transparent?
Are fees baked in?
Are you seeing all of the fees?
How might we lower fees?
What about index funds?
What about no load index funds?
Is your money locked up?
What about penalties?
What about employer restrictions?
Who can change the rules whenever they want?
What about bank robbers?
What about the tax time bomb?
What about deferral?
Is it ever a good idea to defer a root canal?
Would you like to hear Episode 30?
Who are you underwriting?
Where will the government get the money?
What will happen by 2045?
What about social security?
What about medicare?
What will be insolvent?
Is there any way to avoid these dangers?
What is safe and predictable?
What about guarantees?
What did Mark discover through his financial education as a Bank on Yourself Professional and Certified Financial Planner®?
How is Wall Street like a crazy rollercoaster?
What is high cash value, dividend paying whole life insurance?
How has this been around for centuries?
What about Bank on Yourself® type whole life insurance policies?
How is this different from other types of life insurance?
Would you like to read the Bank on Yourself Revolution by Pamela Yellen?
Are you too sick?
Are you too old?
Who started a life insurance policy at age 85?
What did the father of the 401(k), Ted Benna say?
What is a monster?
Where does Ted Benna put his money now?
Why would he recommend that?
What problems does that solve?
- What about predictable and guaranteed growth?
- What about control of your money?
- What about liquidity and access to the money?
- What about multiple tax advantages?
Who need to hear this episode?

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