Retirement Costs

Episode 315: Retiring with Federal Funds with Mike Grimm

September 15, 2023 by Not Your Average Financial Podcast

In this episode, we ask:

Who do you know who needs to hear this?
How about the true story of Ida May Fuller? Have you heard of her?
How many federal employees are set to retire soon?
Who is Mike Grimm?
What happened when Mike and Mark were biking in Jackson Hole, WY?
What about coming down the mountain?
What is Mike’s story?
What sort of benefits packages do government employees have?
What was Mike’s work with nuclear weapons like?
How are federal employees different from private sector employees?
What are the three legs of benefits for government employees?
What about the FERS annuity?
What about the thrift savings plan (TSP)?
What about social security benefits?
What about defined benefit plans and defined contribution plans?
What are the two main retirement systems?
What changed in 1984?
What about newer government employees?
What about SERS and FERS?
What about pensions?
What are the factors contributing to benefits?
How is a TSP like a 401(k) for the federal government?
When did Mike realize he had a passion for helping federal employees?
What happens when federal employees hit retirement?
What about working longer and the tax implications?
When should one start the planning process?
Why do I want to continue my work?
Do I need to work extra years?
Where does Mike work, and what is the process?
Would you like to email Mike?
Would you like to read Mike’s book?
What can you expect in retirement?
How many years in advance do you need to get started?
Have your read through your pension benefits?
Have you decided what you believe about taxes?
What do federal employees need to pay attention to?
When is a good time to reach out to Mike?

Mike Grimm is the president and founder of Federal Employee Benefits Professionals. He specializes in federal employee benefits and retirement planning. Before starting his business, Mike retired from the US Government as a Federal Agent/Deputy Director with the National Nuclear Security Administration. Mike’s current mission is to help federal employees manage their benefits for a safe and secure retirement.

Episode 303: Expert Panel on Bank on Yourself® Client Stories

June 23, 2023 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | RSS

In this episode, we ask:

What is even better than a five star review?
Who needs to hear this?
What book does Stephen recommend?
What did Stephen’s clients learn?
What did Dan’s client do with his cash value?
What were Mark’s clients able do with their modest policies?
What did Grant’s business owner client do?
Who wants to have control of their money?
Why would a business owner choose to do a Bank on Yourself® account strategy for their employees?
What about emergencies?
What happens with 401(k)s when losing an employee?
What about taxable accounts?
What about tax free money?
What about giving the family something more valuable?
What are the benefits?
Do employees love it?
What happened with John’s business owner client?
What about the challenge to get the funding for business expenses?
What’s the update with this client’s retirement?
Who wants more policies?
What is so powerful to understand about WHOLE LIFE insurance?
What do you need today? tomorrow?
Would you like to hear Episode 86 and Episode 87?
What did Amanda do?
Who pays tax via policy loans?
What about self escrow?
How much did Amanda’s client save in fees while doing self escrow with policy loans?
What seeds did Sarry’s client plant for the future?
What about Mark’s client’s family example?
What about thinking outside of the box?
Where is it written that you have to put all of your chips on red or black to meet your financial goals?
What are the takeaways?
Would you like to connect on the FREE Not Your Average Financial Community at notyouraverage.mn.co?

This episode features a round table of
select Bank On Yourself® Professionals, including:
John Ensley (Puget Sound, WA),
Sarry Ibrahim (Chicago, IL),
Dan Morris (Daytona Beach, FL),
Amanda Neely (Cincinnati, OH),
Brandon Neely (Cincinnati, OH),
Stephen Step (Los Angeles, CA)
and Grant Thompson (Amarillo, TX).

Episode 294: How Families and Financial Advisors Sabotage Generational Wealth

April 21, 2023 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | RSS

In this episode, we ask:

Who needs to hear this?
Would you like a FREE book?
What about leaving a legacy?
How many generations?
What did Gloria Steinem say?
What about aggressive investment?
Did you lose $1?
Should we become more conservative as we get closer to retirement?
What is human capital?
How might we think like a family?
What is the greatest asset?
Would you like to hear Episode 104 and Episode 105?
How might one take an individual’s net worth and build up the family for generations?
Who is “taken out of service”?
Who will transform the family?
What happens in retirement?
What is the work that you love?
What about consulting?
What about freelancing?
What about starting a business?
What about mentoring the next generation?
What about sharing your story?
Is insurance temporary?
How is life insurance the bedrock of generational wealth?
Who buys term insurance?
…What do they have to show for it?
What happens when term insurance runs out?
What is the best age to purchase insurance?
What are the guarantees?
What is the only type of life insurance that offers guarantees?
What about government and taxes?
How much will you pay in tax in retirement?
What are the restrictions on the 401(k) or IRA?
Do you want the choice to spend down the accounts?
What happens now the SECURE Act has passed?
What are growth vehicles?
What are transfer vehicles?
What about failure?
What if there was no transfer of power?
How might we prepare the people to receive gifts?
Who is leaking money, as the generations progress?
What about shirt sleeves to shirt sleeves in three generations?
What about nurturing emotional, intellectual and human/social capital of the family?
Why do so many focus on short term thinking?
How do we avoid sabotaging and avoiding long term generational wealth?
Would you like to talk with Mark about generational wealth?
What are the four key elements that lead to long term thinking and generational wealth?
What about financial foundations?
What about saving?
What is the opposite of saving?
What about a family fund?
How might one save money, mitigate against risk and provide permanent protection and leave a legacy?
What about family lending?
What creative ways might you use family capital?
What if grandma and grandpa bought up all of the loans for the children and grandchildren?
What would happen if the wealth stayed within the family (instead of bleeding interest to bankers)?
What about leadership?
What about mentorship?
What about nurturing family relationships?
What about growing children into world leaders?
How young is too young?
What about legacy?
How might we prepare the people for the money?
What about the traditions and the values you leave behind?
What about sharing this episode with a family member?

Episode 292: Multiple Streams of Tax-Free Income in Retirement

April 7, 2023 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | RSS

In this episode, we ask:

What is better than a five star review?
Who needs to hear this?
Who wants a FREE book?
When is the time to make changes to your tax situation?
Would you like to hear Episode 290 and Episode 291?
Who wants multiple streams of tax-free income?
How many streams are we talking about?
How many streams of income does Ryan Reger have? Would you like to hear Episode 76?
What provides a series of tax advantages?
What happens if the IRS changes the rules?
What about social security?
What is the correct time to take social security benefits?
What are the factors that play into this decision?
What happened to social security rules in the 1980s?
How much of your social security check is taxable?
What about Roth IRA conversions?
What tax trap is easy to fall into?
Why is it smart to do a piece meal, internal, multi-year conversion?
What did Nelson Nash say?
Who is getting a guaranteed income stream?
How might one spread out the tax liability?
Is there still time?
What is the standard deduction?
What about an income annuity?
What about an example?
When were you taxed?
What about a recap?
What about some counter-intuitive strategies?
What about muni-bonds?
What about tax on muni-bonds?
How does this affect social security?
How much will you pay in tax?
How many states charge tax on muni-bonds?
What are the rates?
What about call risk?
What about reverse mortgages?
What are the takeaways?
What about future taxes?
What about putting all your eggs in one tax-free basket?
Does your CPA think beyond this year?
Would you like to join us next week?

Episode 291: Unexpected Ways to Max Out Your Roth IRA

March 31, 2023 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | RSS

In this episode, we ask:

Are you paying more in tax?
What are some strategies with IRAs and Roth IRAs?
What about the drama of the stock market?
What strategies include a guaranteed life time income?
Who is ready for a next level strategy?
What’s wrong with self-directed IRAs?
Would you like to hear Episode 209?
What is a “back door” Roth?
How do conversions work?
Who meets the income eligibility requirements for a Roth IRA?
What about an IRA on a spouse?
What about a “mega back door” IRA?
What does this look like?
What about high income earners?
Who allows for after tax contributions?
Does it make sense to pay tax on a smaller balance?
Is it better to convert when your income is lower?
Is time running out?
What about a multi-year conversion?
Do you have the number of your HR department?
Do you own a small business?
Are your family members employed?
Where will the money live?
What is liquid?
What is accessible?
What do you want to purchase within your IRA?
How much do you need?
How much annual income do you want?
Is the IRA full of stocks? Indexed funds? Real estate?
Is there a better way?
What about an income annuity inside of an IRA?
What about guaranteed lifetime feature?
What about inflation protection?
What about liquidity?
Is the money locked up?
What about emergency funds?
What about leaving a death benefit to your heirs, should you pass away too soon?
What about an IRA transfer?
What about piecemeal internal Roth conversions?
What about paying your taxes now?
What about an annuity inside a Roth IRA?
What about guaranteed, tax-free, inflation-adjusted income that could last the rest of your life?

Episode 283: Fire Your Real Estate Banker (Part 1)

February 3, 2023 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | RSS

In this episode, we ask:

Would you like to subscribe?
Is there a better time to be a real estate investor?
Would you like some game-changing strategies?
What about mortgage rates?
What about inflation?
What is the overall state of the market?
How far will the money last?
What is the monthly cost for long term care?
What did the study from Urban Institute say?
Who is able to retire?
Will you have the choice?
How might constraints drive innovation?
Where might your money go?
What is the small hinge that will swing the big door in your financial life?
Where will your money live?
What about risk, tax, fees and penalties?
What do you want your money to do for you?
Do these products solve your problems?
Do these products feed the problems?
What is guaranteed?
What did Einstein say?
What are the attributes of your money?
Is it taxable?
Is it guaranteed?
Can you leverage it?
Is it at risk?
Do you have control over where your money lives?
What are your answers to these questions?
- Can you lose money due to elements outside of your control?
- Are guarantees on your money offered or received?
- Is the principal safe and protected?
- Are there any penalties to access your cash?
- Can you get access to the money without red tape or delays, if you need it?
- Can you leverage your money to create the most amount of wealth for the least amount of money?
- Does your money grow tax deferred, or is it going to be taxed in the future? Is it going to be tax free in the future?
- Is your money protected from lawsuits and creditors and other predators?
- Can your money be used as collateral?
- Does your money transfer income tax free to your heirs?
Is your money doing things counter to your desires?
Where will your money live?
What are you going to do about it?
What about a story?
What did Mark learn?
What about Bank on Yourself® type whole life insurance policies?
Is it time to find a better way?
How does this fit with real estate?
Why should we bother?
What about tax advantages?
- How is this similar or different from a Roth IRA?
What about guarantees?
- How is this time tested?
- How are the guarantees a great buffer?
What about insurance?
- Does whole life insurance expire?
What about freedom?
- What about liquidity?
- What about access? What about loan provisions?
How can you get true, uninterrupted compound growth?
What does any of this mean to you and your real estate business?
What happens when you combine real estate and Bank on Yourself®?
See you next week!

Episode 271: Are you with Bobby Bonilla?

November 11, 2022 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | RSS

In this episode, we ask:

Are you ready for the season of your life where income stops but expenses continue?
What did the Ubiquity Retirement Savings Group and the National Today Data Science team survey?
What did they learn?
Who has 5K saved?
Who will be able to maintain their standard of living in retirement?
Who will outlive their money?
How much do we pay in medical costs and healthcare?
What are some fun, practical and simple ways to maximize your retirement income?
Who is Bobby Bonilla?
How did Bobby Bonilla structure his compensation?
What is a deferred income annuity?
Who else in the MLB is taking streams of income in retirement?
What is social security?
What about financial entertainers?
What about a case study?
Would you like to learn about the Income Maximization Strategy by hearing Episode 83?
What about mutual funds?
What about ETFs?
What about crypto?
What about real estate?
What about true retirement security?
What about Bank on Yourself type whole life insurance policies and annuities?
What about permanent guaranteed income?
What did the Wall Street Journal say?
What did AARP say?
Why is this not a default option?
How are annuities an insurance contract?
What about your retirement?

Episode 268: The Three Phases of Wealth and the One We All Forget [Expert Panel]

October 21, 2022 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | RSS

In this episode, we ask:

Who would you call?
What about years of combined experience?
What about accumulation?
What about distribution?
What about that phase in the middle?
Would you like to listen to and learn from this panel?

Reach out to anyone on this panel:

Episode 265: How to Get True Uninterrupted Compound Growth with Lester Himel

September 30, 2022 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | RSS

In this episode, we ask:

Is there truly nowhere to hide? Would you like to join us THIS WEEKEND for the FREE Not Your Average Financial Summit in the afternoons on Friday, September 30 and Saturday, October 1, 2022? Login or Join the FREE membership community to Reserve Your Spot!
Would you like to hear Part 1 of my interview with Les in Episode 264?
Would you like to hear more from Les on Episode 52 and Episode 53?
What about compound growth?
Who understands the (uninterrupted) exponential function?
When I’m 75, 85, 95 years old… how am I paying my bills?
What is the 4% rule?
Is it 2.8% now?
Did your guru disappear?
How do Bank on Yourself® type whole life insurance policies develop compound growth?
What is a paid up addition (PUA)?
Why do I need the extra life insurance?
What buys paid up additions (PUAs)?
Who wants to participate?
Is that oak tree dropping acorns?
How are paid up additions like acorns?
What about the dividends?
What about guarantees?
What about solid results and simplicity?
Would you like to visit heiratlas.com?
What are the stages?
What is accumulation?
What is stabilizing?
What is distributing?
What provides actual compounding and consistency?
Is there a world where you can ignore the stock market?
We’d love to have you join us TODAY for the FREE Not Your Average Financial Summit!

Lester N. Himel discovered the use of specific types of Life Insurance to enhance and expand the performance of investment portfolios several years ago; this after spending 28 years in a variety of positions on Wall Street. Like most financial professionals, he considered stocks, bonds and similar instruments as the core of a reasonable investment approach. In those last several years, Les has found the better way. Les comes to this field with a very broad financial background. He started as a compliance officer, worked in administration, was an institutional bond trader, developed an Emerging Markets business, and was also involved with “alternative investments”. Les prefers low risk and “guarantees”, and has an ability to simplify explanations of what, why and how. Contact Les at heiratlas.com.

Episode 264: What Will You Do When You’re 82? with Lester Himel

September 23, 2022 by Not Your Average Financial Podcast

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | RSS

In this episode, we ask:

Would you like to join us for the FREE Not Your Average Financial Summit in the afternoons on Friday, September 30 and Saturday, October 1, 2022?
Login or Join the FREE membership community to Reserve Your Spot!
Who is Lester Him?
Would you like to hear Part 1 of this interview today?
Would you like to hear Episode 52 and Episode 53?
What about volatility?
Should we be using the standard vehicles?
What did Les find?
What happened with the S&P?
Why such a big difference?
Are the results fact or fiction?
What about stocks, bonds and mutual funds?
According to the U.S. Census Data, what is the average net worth of an American over age 65? What is their income? How long will that last? Is this what they expected?
What has the stock market done over the years?
How has volatility affected the results?
How is the income in your working years like a shield?
What happens when the working income is gone?
Who is in the have nots and who is in the have yachts?
What is the difference in the word return vs. the word change?
What are the gurus paid to do?
What is the definition of compound growth?
Does the stock market give compound growth?
Does the bond market give compound growth?
What’s the difference between growth and compound growth?
How is compound growth like acorns coming off an oak tree?
Do bonds and mutual funds compound?
What is yield to maturity (YTM)?
What about simple interest?
What about making a distinction?
Do you have the capacity to do the work?
What are the two catches?
What did Albert Einstein say?
Would you like to join us for Part 2 of this interview next week?

Prev Page...

...Next Page