Retirement Costs

Episode 194: [Toolbox] Use The Volatility Buffer Against Market Madness

May 21, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

What is the goal of climbing a mountain?
Who was the first person to successfully climb Mount Everest?
What about coming down the mountain?
What about a sherpa?
What about compensation based on AUM?
What is the volatility buffer?
What about when all of the money is tied up in the market?
What happens with a market crash?
What happens in retirement?
Does the stock market care if you are retired or not?
How might we avoid a disaster in retirement?
Who has an average retirement account?
Who has a mythical average account?
What are some strategies?
What money can you not afford to lose?
How does the volatility buffer work?
Wouldn’t you anticipate what the mountain might bring?
How might you shield yourself from the elements?
What are the provisions?
Who is Wade Pfau?
What does Wade Pfau say?
What are some reasonable expectations?
How about coming down the mountain safely?
What did Tom Hegna say?
Would you like to discuss some strategies for “coming down the mountain”?
Schedule a meeting with Mark

Episode 191: Ask Me Anything

April 30, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to hear our Q&A?
Can I do a one time lump sum without recurring premium on a key man whole life dividend paying policy?
- Would you like to hear Episode 174?
How do you give your older kids the high level overview of financial education… telling them over a two hour time block on vacation? What about teaching through games? (featuring Debbie Wilder and her contagious joy)
What happens if you want to start your retirement earlier than age 65, i.e. at age 45? (featuring Brandon Neely and Amanda Neely)
What if you want to retire within 10 years?
What are some creative ways to save premiums every year? (featuring Brandon Neely and Amanda Neely)
Would you like to join a future Ask Me Anything during Office Hours?
- Join our Not Your Average Membership Community to Get Access

Episode 188: The Founder of Bank On Yourself®, Pamela Yellen

April 9, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

Who is Pamela Yellen?
What about Pamela’s articles and books?
What did Pamela learn from experience?
What did Pamela investigate?
How does Pamela remember her mission?
What about Dave Ramsey and Suze Orman?
What is real education?
What is infotainment?
Has conventional financial wisdom worked?
How many actually have financial security?
What do people say about Bank on Yourself?
What about investment accounts?
What about Pamela’s newest book, Rescue Your Retirement?
What about 401(k)s and IRAs?
What will the value of your accounts be when it’s time for retirement?
Do you know?
What about a personal story?
What about the go go years of the dot com bubble?
What is a paper gain?
How is a paper gain different from real wealth?
What about paper gains vanishing?
How does Bank on Yourself® fit into a financial strategy?
What about cash value?
What about taking policy loans?
What are some examples of what people are doing with policy loans?
What has Pamela done with her policies?
What happened when Pamela wrote the Bank on Yourself® book?
How was she able to access $500,000 in a week, with no questions asked?
What about non-direct recognition policy loans?
Is this the 8th wonder of the world?
What happened to Pamela’s colleagues?
What about compound growth?
What about guarantees?
What about the right to borrow?
What is a unilateral contract?
What about opportunities?
What about emergencies?
What would an adequate emergency fund look like?
Can you have your money working for you in two places at once?
What about the Bank on Yourself® Professional program?
What about the intellectual property of Bank of Yourself®?
Why is it important to work with someone with the right training to build and care for a policy?
How might a policy help you manage your tax burden?
Do people have to pay tax on social security?
What about commissions?
What about the death benefit?
What did the father of the 401(k) say?
What is he doing with his money?
What if you have a 401(k)?
What about reading pages 36-37 of Rescue Your Retirement?
Would you like a FREE copy of Rescue Your Retirement?
Would you like to visit findoutmorenow.com?
Would you like to book a meeting with Mark? (Write Rescue Your Retirement book in the notes on the calendar page so we can get you that FREE copy)
What are Pamela’s insights?
What are the takeaways?

Pamela Yellen, Financial security expert and best-selling author, investigated more than 450 savings and retirement planning strategies seeking an alternative to the risk and volatility of stocks and other investments. Her research led her to a time-tested, predictable method of growing and protecting wealth she calls Bank On Yourself (www.bankonyourself.com) that is now used by more than half a million people.

Pamela is the author of the New York Times bestselling books BANK ON YOURSELF: The Life-Changing Secret to Growing and Protecting Your Financial Future and THE BANK ON YOURSELF REVOLUTION: Fire Your Banker, Bypass Wall Street, and Take Control of Your Own Financial Future.

Pamela has appeared on every major TV and radio network and served as a source for organizations and publications such as the Associated Press, Fox News, Bloomberg Businessweek, Ladies’ Home Journal, Essence Magazine, Aging Today and AARP. Her articles have been featured in thousands of major publications and websites, and she has spoken to more than 1,000 audiences world-wide.

Pamela was born in Buffalo, New York, and has lived in Sarasota, Phoenix, and the San Francisco Bay area. She graduated from the University of San Francisco with a degree in psychology. Pamela and her husband Larry currently live outside of Santa Fe, New Mexico, They enjoy theatre and the arts, hiking, biking, bird watching, traveling, gourmet cooking, working out (Pamela can leg press 200 pounds!), reading, spoiling their two grandkids, and are involved in supporting numerous charitable causes.

Ten percent of all author royalties are donated to educational not-for-profits, such as The Smile Train, The Nature Conservancy, Susan G. Komen for the Cure, Wounded Warrior Project, Heifer International, and Hawk Watch.

Episode 184: Rewirement and Risks to Retiring in 2021 with Jamie Hopkins

March 12, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

Have you ever seen the show, American Ninja Warrior?
What about a finite amount of cash?
Who is Jamie Hopkins?
What are some of Jamie’s earliest experiences with money?
What about the risks of retirement?
What about Jamie’s new book, Rewirement?
What about longevity?
What about the unknown time horizon?
What about deflation?
What about public policy risk?
What about unexpected financial responsibility?
What about a parent’s long term care needs?
What if your career is shorter than your retirement?
What does Jamie see in his crystal ball?
What is the giant societal experiment?
What about the 401(k)s?
What about the standard of living adjustments?
What about cutting back?
What about reliance on certain systems?
What about the social security fund report?
How does this influence policy?
What about social security?
What percentage of retiree’s income typically comes from social security?
Will the funds be depleted?
What about Biden’s proposals?
What is our single biggest funding program?
When was the last time social security was updated?
What about the assumptions?
What has happened to interest rates in the last 40 years?
How does this change behavior?
What changes in the macroeconomic assumptions?
What about a tax proposal?
What about inflation?
How does living on a fixed income work?
What about the infrastructure and legal system in the U.S.?
What about protections?
What about strategies?
What about contract law?
Does Jamie sell products?
What about fixed indexed annuities?
What about creating lifetime income?
What about fixed income?
What about bond laddering?
What about life insurance?
What about forced or automatic savings?
What about a death benefit?
What about tax diversification?
Could laws change?
Where will public policy go?
How might one public policy change affect your strategy?
Are tax rates going up?
Have you read the Power of Zero?
Do you act in accordance with your beliefs?
What about diversifying risk?
What do most people believe today?
What happened between 2010 and 2020?
Where can you follow Jamie?
What do you want to accomplish?
What are the takeaways?

Jamie Hopkins, Esq., LLM, MBA, CFP®, RICP® is the managing director of Carson Coaching and the Director of Retirement Research for Carson Group. He is a finance professor of practice at Creighton University’s Heider College of Business and is the author of the book Rewirement: Rewiring The Way You Think About Retirement Planning. Jamie helped co-create the Retirement Income Certified Professional (RICP®) designation at The American College of Financial Services. He was named as a top 40 young attorney by the American Bar Association and a top 40 financial service professional under the age of 40 by InvestmentNews. In 2020, his work on retirement planning and the SECURE Act won an award from WealthManagement.com for being the best Thought Leadership Advisor Education in the industry. You can contact him at www.jamiehopkins.com or follow him on twitter @retirementRisks.

Episode 178: Tax-Free Wealth with Tom Wheelwright

January 29, 2021 by Not Your Average Financial Podcast

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In this episode we ask:

Who is Tom Wheelwright?
Have you read his book, Tax Free Wealth?
Would you like to hear his podcast?
What was Tom’s childhood like?
Where did Tom first learn about money?
What was one of Tom’s first jobs?
What did Tom learn about rental property?
With whom does Tom work?
What does Tom’s CPA network look like?
What does Tom love about tax education?
How did Tom’s relationship start with Robert Kiyosaki?
Where do Tom and Robert travel together?
What about the tax law around the world?
How is the tax law a series of incentives?
What is Tom’s paradigm of taxes?
How long is the tax law in the U.S.?
Is all income taxable?
Is anything deductible?
What is the majority of the tax law?
What’s the history?
What about incentivizing the free market?
What about tax credits?
What about depreciation?
What about tax credits for sending your kid to college?
What about tax deductions for buying a house?
What do most countries have in common?
What’s fun about taxes?
How does one make more money when they follow the tax law?
What about electric cars?
Is the free market the best place to build infrastructure?
What about the cash flow quadrant?
What about tax incentives?
Have you read Cash Flow Quadrant by Robert Kiyosaki?
Are you an employee?
Are you self employed or a small business owner?
Are you a big business owner?
Are you an investor?
What about Trump paying $750 in taxes?
What about debt and real estate?
Do you have to be big to get the benefits of the big business?
Can an employee enjoy the tax benefits of an investor?
What about the Wall Street trap?
What about “retail” investments?
What about “wholesale” investments?
What about private equity?
Is this available to anyone outside of the 1%?
What about “factory-direct” investments?
What’s on the horizon for real estate?
What’s on the horizon for tax law?
Are taxes going down?
What’s likely to happen?
What about incentives toward clean energy?
Where is policy headed?
What was one of the best real estate deals ever?
Are you looking at cash flow?
What is the simple analysis of any deal?
What will happen to the size of government?
What opportunities come with government expansion?
What about the pandemic?
What about office space and other commercial real estate?
What is Tom doing differently in their office?
How many streams of tax-free income can Tom and Mark think up?
What about Roth IRAs?
What about HSAs?
What about depreciation on rental real estate?
What about a 1031 exchange?
What about reverse mortgages?
What about life insurance?
What about a business?
What is the only thing you can cash out of tax free?
How can you combine a business with real estate?
What about clean energy?
What about oil and gas?
What runs out? What wears out?
What about renewable energy?
Would you like to hear the Wealthability show?
Would you like to read Tom’s book, Tax-Free Wealth?
Would you like to visit wealthability.com?
Would you like to join the NEW Not Your Average Financial Community?

Tom Wheelwright is a CPA, CEO of WealthAbility®, Best-Selling Author of “Tax-Free Wealth”, Owner and Active CPA for Wheelwright Manahan, Speaker, and Host of 2 popular podcasts, including The WealthAbility® for CPAs Show. Wheelwright advises CPAs, accounting professionals, small business owners, entrepreneurs, and investors how to permanently and legally reduce their taxes by 10-40%. Previously, Wheelwright was a Manager in the National Tax Office of Ernst and Young, an Adjunct Professor in the Masters of Tax Program at Arizona State University for 14 years, and a Fortune 500 in-house tax advisor and tax lobbyist.

Episode 176: Annuities vs. Everything Else

January 15, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

What are people saying about annuities?
What about supplemental income strategies for retirement?
Should alternative income strategies be used in retirement?
What about rental income?
What about rental income in a pandemic?
Is your rental property your annuity?
How is this working out?
What about Moody’s analytics?
How many renters are behind on rent?
What about mom and pop landlords?
What are squatter’s rights?
What about contract law?
What about laddered bonds?
What about taxes?
Have you heard Episode 138?
What about MUNI bonds?
What did Barron’s say?
What did Mark see at the Oriental Museum?
What about liquidity?
What is a Single Premium Immediate Annuity (a SPIA)?
What about inflation?
What about the Mack Truck factor?
What have the insurers done with the annuity gotchas?
What is the fixed indexed annuity?
Have you heard Episode 80?
What about income?
What about a steady stream of income in retirement?
How does one fund an annuity?
What are the choices?
What are the tradeoffs?
What are the protections?
What about qualified and non qualified plans?
How does a fixed annuity address the liquidity problem?
Who has the cash?
What is an idea for liquidity?
What about the inflation problem?
Can you lose money due to market fluctuations?
What about the participation rate?
What about an inflation protection hedge?
What about competitive market returns without loss?
What about increasing income in retirement?
What about a pay raise in retirement?
What about a guaranteed minimum income for life?
What about the insurers addressing the Mack Truck factor?
What about gifting the unspent lump sum to your beneficiaries?
What about nursing home care?
What about double income payments in a qualified care facility?
Do you have a bond that can do that?
Do you have a rental property that can do that?
What are the benefits of the indexed annuity?
What are the downsides?
What are the risks?
Who is an indexed annuity good for?
What about medium and long term savings goals?
What about short term goals?
What do you want your money to do for you?
Who are indexed annuities NOT good for?
What about surrender charges?
What about liquidity?
Would you like to meet with Mark?
What about looking at your Social Security benefits online?
Do you have a plan for long term care?
Do you have a plan for your home equity?
How might your home equity support you in retirement?
Do you still need to buy stuff?
Would you like to join the Not Your Average Financial Community?

Episode 175: Five Surprising Benefits of Lifetime Income

January 8, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

How would you like to be paid every single day for the rest of your life?
What are the surprising benefits of life time income?
What about risk for retirees?
What about longevity?
Will you live and live and live?
What about an annuity?
Did he just say the A-word?
What about Ken Fisher and Dave Ramsey and Suze Orman?
Why do they love annuities?
What does a guaranteed income look like?
What about money managers?
Who loves the idea of lifetime income?
What about lifetime income that you cannot out live?
What about the pension system?
What about the pension problem?
Will they up taxes or cut benefits?
What about pensions moving into annuities?
What about private annuities?
What about Bank of America? What about Merrill Lynch?
What about the New York Times?
What about General Motors?
Why are major companies buying private annuities?
What about Lehman Brothers?
What did Lehman do differently with the executives?
What did the TIAA CREF survey say?
What about retirement predictability?
How are fixed indexed annuities helpful?
What about anxiety?
What did the Wall Street Journal say?
What about friends, neighbors and fixed annuities?
What about retired school teachers?
What about happiness?
Who has to rely on the stock market?
How does a fixed indexed annuity compare to other products?
Do annuities lack liquidity?
Will you likely live longer?
What about the 4% rule?
Is it now the 3% rule?
What about a single premium immediate annuity (a.k.a. a SPIA)?
What would Wall Street ask you to build up for retirement?
What is the most efficient tool for income?
What about a hybrid strategy?
What happens in an emergency?
What about discretionary expenses?
How might you neutralize risks?
What about the sequence of return risk?
What about the withdrawal rate risk?
What was the average return?
Would you like to join our Not Your Average Financial Community?

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 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.