Retirement Plans

Episode 121: A Strategy for RMDs

December 27, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

What is a Required Minimum Distribution (RMDs)?
What happened when you put your income into the deferred tax account?
How will the tax be paid?
When will the tax be paid?
What is built into the Internal Revenue Code?
When do Required Minimum Distributions become payable?
What about age 70.5?
What about age 59.5?
What is this magical 11 year time zone?
Do you own a qualified plan?
When you can you withdraw funds?
What about penalties?
Have you heard about the 70.5 deadline?
A 50% penalty?! 50%?!
When do you think taxes will be higher?
What happens if you pass away with a qualified plan?
What does your partner have to do?
Would you like an example?
How does one calculate an RMD?
What is your life expectancy?
What is the balance of the account?
Are RMDs taxed at ordinary income tax rates?
Is your spouse 10 years younger than you?
Will RMDs force you into a higher tax bracket?
Will RMDs raise your Medicare premiums?
What if you have assets inside of your qualified accounts?
Will you have to sell your stocks?
Will you have to sell your real estate?
Does the RMD care?
What happens if you live past your life expectancy?
What happens if you need it for long term care?
What about the 4% rule?
How successful is the 4% rule?
What about 2.8%?
What about 6.5%?
Has the government updated their formula to reflect these new findings?
Will most run out of money?
What is the new SECURE ACT in congress?
What are some ideas to consider?
Are you in your mid to late 50s?
How much do you have that will be exposed to ordinary income tax?
Would you like protection from required minimum distributions?
Are there multiple accounts that you would like to consolidate?
How might you leave a substantial legacy for your children?
What about a life insurance policy?
Are today’s tax rates historically low?
How much will you be forced to take out of your retirement accounts?
How could you leave your family far more than you ever saved?
Would you like to view some example numbers? Note: this is only an example. To see your exact numbers, please contact us.
How might we help you with an RMD strategy? Hop on our calendar for a FREE 15 minute Introduction Phone Call
Do you own a Bank on Yourself® type policy? Do you believe that Bank on Yourself is a scam? Leave us a message and let us know your experience!

Episode 115: When Should I Take My Social Security? with Brian Minier

November 15, 2019 by Not Your Average Financial Podcast

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**CORRECTION – in the episode we state that 85% of your benefit is taxed. To clarify, 85% of your Social Security can be exposed to taxation at whatever your tax rate is.
For example if your Social Security monthly benefit is $1000/mo, $850/mo of that would be exposed to your tax rate, (which might be 20% for example.)**

In this episode, we ask:

Do you have a 401(k)? Do you have an IRA? Do you have a Bank on Yourself type whole life insurance policy?
Who is Brian Minier?
What is customized Social Security planning?
Are you walking away from benefits?
Are you allowing your credits to accrue?
Are you eligible to take a spousal benefit?
Is Social Security secure?
What is the reality of the Social Security benefit system?
Have you read the Social Security statements?
What is the history of Social Security?
What was the life expectancy when Social Security started?
At what age did the Social Security pay?
What are the issues?
What is happening with the baby boomers?
What is the decline in worker to beneficiary ratio?
How many people are taking the benefits?
What can politicians do?
How long can you delay benefit?
What are reduced cost living adjustments?
What makes Social Security complex?
What are the 561 different calculations to consider?
Should you always take Social Security early?
Should you wait until age 70 to take benefits?
What are the factors to consider?
Are you married?
Are you receiving a pension?
What should the benefit be?
When should I take the benefit?
How do you qualify for Social Security?
How long do you need to work to collect Social Security?
How do you receive a spousal benefit?
How do you know if Social Security has calculated your statement accurately?
How do you know what you’re going to receive in benefits?
Where can you go to view your current benefits?
Can you view your future benefits, even if you’re young?
Have you visited ssa.gov?
Why is maximizing Social Security so important?
Why is looking at the big picture of a couple so important?
What factors influence the timing?
Have you been diagnosed with a terminal illness?
Are you married and did your spouse work?
Are you married and you have a child who is less than 18 years of age?
What is the most thing that most people never consider?
What about survivorship?
Who usually dies first?
How to plan for a surviving spouse?
What’s the best way to put Social Security to use?
How is Social Security taxed?
What is provisional income?
What types of income are not listed as provisional income?
What are some of the things you can do?
Can converting to a Roth IRA help?
How might using a life insurance vehicle help?
What are the taxes due on Social Security?
How might you lower your provisional income?
What happens if you make more than $44,000 joint income annually?
How much will the government tax your Social Security benefit?
What nuances would affect your benefit amount?
Why is distribution planning important?
Why should Social Security and retirement planning be a combined effort?
Do you know someone who understands the benefits of Social Security?
Where might you learn more?
Do you have a question on Social Security?
Are you age 62 or older?
Would you like to see what’s possible in your situation?

Brian Minier is a Certified Financial Fiduciary® with over 10 years of experience in the insurance and financial service industry. He has an MBA from Malone University and a Bachelor of Science in Marketing from the University of Akron. Brian is a Certified Bank on Yourself Advisor and assists his clients with many areas of retirement planning and investments.

He specializes in helping seniors plan for retirement and develop smart Social Security strategies, and also provides financial advice and guidance to help individuals weather both good and bad financial markets.

Brian’s particular expertise lies in customized Social Security planning, designing personalized retirement plans to help his clients achieve their individual retirement goals, and income and distribution planning – an area which Brian feels is too often neglected by most traditional advisors.

Brian lives in New Albany with his wife and two children, and is active in his church and community. In his spare time, he enjoys spending time with his family, participating in missions work, and working out.

You can reach Brian Minier at Keystone Financial, by calling 614-300-9501.

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

October 4, 2019 by Not Your Average Financial Podcast

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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 105: Your Family Is Your Greatest Asset, Part 2

September 6, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to join us LIVE on Saturday, September 7, 2019 at 1PM-2PM Central Time? Register Now!
Do most Americans have savings?
Have you heard Episode 84?
What is the government going to do with the national debt?
What mostly interests most financial planners?
Where can you put money?
Do yo have to be stuck with fees?
What do you think about bank fees?
What about taxable accounts?
What products are designed to extract wealth from your pocket?
What is the common advice to most financial problems?
What did Einstein say?
What is the solution?
How can you change the approach?
How does one build a financial plan leading to poverty?
Are you passing on the same financial mindset to your kids?
Have you seen the video of the jar of fleas?
What’s a new mindset?
Where is the success in a certain financial product?
Do you need to invest in stocks, bonds and mutual funds?
Are you smart enough to manage your own financial future?
What are the four most dangerous word in your financial life?
Are you part of a loving family?
Are your parents still alive?
What if we worked together, with our families?
What if we worked with our aging parents?
What if siblings worked together?
What about paying for long term care insurance?
Does the 401(k) offer long term care insurance?
Do you have financial guarantees in place?
What is the family asset concept?
Would you like a book? Email us at hello@nyafinancialpodcast.com, ask for the book, and we will send you a copy.
What’s an example?
Are there investment fees on a whole life insurance policy?
Does market volatility affect a 401(k)?
What is life insurance designed for?
How much will a healthy couple need in retirement and for long term care?
What can the owner do with the cash value in a policy?
What restrictions are there?
What ways can you leverage your unique situation?
Would you like to see your own numbers? Book A Meeting
Example chart:

Join us LIVE on Saturday, September 7, 2019 at 1PM-2PM CT

Register Now!

Episode 104: The Family is Your Greatest Asset, Part 1

August 30, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to join us LIVE on Saturday, September 7, 2019 at 1PM-2PM Central Time? Register Now!
Is it best to Buy Term and Invest the Rest?
Would you like to fill out our feedback survey?
What is the greatest asset in your portfolio?
How has your family structure changed over the years?
Did you inherent your family business?
Has the business of family mostly disappeared?
Do we have a connection with our past?
Will your family have a guaranteed legacy?
Do you plan with your family?
What do rich families do that others don’t do?
How do you invest in your family?
What are the rules for the family asset concept?
How can you use the least amount of money to create the greatest amount of wealth?
Can you guarantee that wealth will occur and that it will transfer to the family tax free?
Do you think like a rich person?
Do you think like a poor person?
Would you like to create wealth for your family if you didn’t have to spend one more dime than you are spending right now?
How might you realign your assets to create more control over your money?
What is true wealth?
What about control in business?
Do you know it’s a great investment?
What about control in stock?
What about control in family business?
What are the elements that affect legacies?
What happens when one follows the traditional recommended plans?
What about the 401(k)?
What about the IRA?
What about the I.R.S.?
Are you leaving the I.R.S. a tip?
What about leverage?
What might be a perfect solution for wealth creation?
What about the perspective of the elder parent?
What about the perspective of the adult children?
What is a family asset system?
How many dreams have you had that have actually come to fruition in your life?
Is it possible to leave more money than you could ever save?
What is Mark’s story as a son?
What did Mark’s mom do?
What are the guarantees?
Do you want to add to an inheritance for your kids without paying anything?
Are you stressed by the market?
Are you paying fees?
What would you bet on?
Would you like to discuss the family asset concept with your family?
Would you like to join us next episode for Part 2?

Join us LIVE on Saturday, September 7, 2019 at 1PM-2PM CT

Register Now!

Episode 98: Ryan Fleming – The College Funding Crisis is a Retirement Issue

July 19, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

How does college funding relate to retirement?
What’s Ryan’s story?
How much do we have in student debt?
What are the increases on tuition and fees?
Can paychecks keep up with the costs?
What happens if things don’t turn out as planned for a student?
Is college worth it?
What is a wealth transfer?
What does the average college graduate make?
How do traditional financial advisors advise parents who have kids going to college?
Does a 529 plan solve for the realities of college?
Are there more efficient ways to finance college?
What is the average balance of 529 plans for kids about to go to college?
What are the four big college funding mistakes we need to avoid?
Are you in a student loan trap?
Are you over borrowing?
Are you assuming that you won’t receive financial aid?
What does the FAFSA look like?
What counts against families?
What about selecting the wrong college or career path?
How is college funding like buying your first home?
How does Ryan’s work differ from typical advisors?
How does one pay for college without going broke?
How much does college actually cost?
How does a career coach help with college costs?
What about testing?
What about forms?
Since most people won’t get full rides, where will the dollars come from?
How do Bank on Yourself® type policies work with college funding?
How does college planning affect your standard of living in retirement?
How is college planning like golfing?
How is the Bank on Yourself® strategy like a putter of financial products?
How does Bank on Yourself® stand the test of time?
What are the extra benefits of Bank on Yourself® type policies for college planning?
How does one pay off student debt?
What does life insurance have to do with retirement?
How many policies does Ryan have?
Does Ryan own a 529 plan?
What’s the story of Ryan’s clients?
How can you use the deferral mechanism of student loans to your advantage?
Should you wait until high school to plan for college?
Would you like to speak with Ryan about your child’s upcoming foray into college?

Ryan Fleming is a college planning specialist in the Columbus, Ohio area, practicing for over 11 years. As a Certified Financial Fiduciary®, CFF Ryan takes pride in helping others plan for their financial futures by avoiding wealth transfers and conflicts of interest. Ryan specializes in helping parents of college college-bound students plan for one of the largest wealth transfers of their lives. He also consults individually with parents and students to help them improve their financial aid picture and pay for college on a tax-favored basis.

In addition to his college planning practice, Ryan also works with families who want to improve their long-term retirement picture and ensure proper distribution of their estate.

What sets Ryan apart is his client-centric and easy-to-understand approach. Ryan’s main goal for each of his clients is to help provide them with confidence and certainty in their financial future by helping them answer the 4 most important financial questions that we all must answer in order to properly plan for retirement.

Ryan Fleming, CFF®
Website: www.keystoneadvisors.com
Email: rfleming@keystonecollegeplan.com
Phone: (614) 300-9493

Episode 97: Retirement Roundup! 50% of Americans Are Making This Mistake…

July 12, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

What does this podcast mean to you? Let us know by leaving us a message and we may include it on our 100th episode! Have you visited speakpipe.com/nyafp?
Leave us your answer, in your own words, in an audio message? Please record yours before 5PM CT July 15!
What did the Barron’s article say?
What about the generational feedback?
How much more will each generation need to save annually?
Where is the disconnect?
How are the very best 401(k) plans performing?
Does the government have a solution for retirement?
What study came out of Northwestern Kellogg School of Management?
Is America ready for retirement through the 401(k)?
Are people actually living within their means?
Do Americans have enough for retirement?
What about DALBAR’s latest report?
Have most investors kept up with inflation over the last 20 years?
What is an adequate reward for taking on risk?
Based on the DALBAR report, what is the annual return over 20 years?
Where could you get a higher return?
Did the report include fees?
Did the report include inflation?
What what was the real return?
Could it have been worse?
What about taxes?
Who are the people behind DALBAR?
What is the Quantitative Investor Report?
What do most people invest in?
What did the DALBAR report say about the numbers reported in the annual prospectus?
What is the difference between average and real returns?
Where is the advertising off?
Why do investors believe that they’re making more than they actually are?
How does income volatility affect heart disease risk?
How does income volatility affect stroke risk?
How does income volatility affect the risk of death?
What is the medical phenomenon called the Wealth Shock?
What about the study from the American Medical Association?
How does health respond to a foreclosure?
How does health respond to a drop in the market?
What is the relationship between market declines and hospital admissions?
How much did the market fall in 2008?
How do Wealth Shocks work?
What about the Federal Reserve study?
When do you need money the most?
What can help you weather financial storms?
What can help you weather health storms?
Does where you put your money matter?
Can money choices affect the longevity of your life?
Will Wall Street continue on?
How many times do we have to hear this?
Are we the exception to the rule?
Is everyone in the market special?
Does independent research come out every year?
Can living in a perpetual state of stress be devastating?
Would you like to learn more through another episode, about Health and Wealth?
If you’ve already left a message for episode 100 on speak pipe, thank you! If you would like to leave us a message, please visit our SpeakPipe page, and leave us a message to show how this podcast has affected you!

Episode 83: How to Maximize Your Retirement Income

April 5, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

How much peace and financial stability can you have?
How do oceans and rivers work together?
How do we benefit from systems?
Are annuities good for liquid access?
How can we solve immediate cash needs?
Where could you possibly keep an OCEAN OF MONEY?
How does a Bank on Yourself type policy work with annuities?
What spreadsheet did Holly create?
What is direct recognition?
What is non-direct recognition?
How does direct or non-direct recognition work?
Do you have a dividend paying whole life insurance contract?
Do you have a provision for non-direct recognition policy loans?
Do all insurance companies encourage policy holders to take policy loans?
Why is so important to work with the right advisors?
What can be buried in the contract provisions?
How do policy loans work? Have you heard Episode 32?
How can you overcome opportunity cost?
Does your policy have a TRUE non-direct recognition provision?
How can you get your money do two things at once?
Can you imagine growing your cash (even when you’ve spent it)?
How can your hard earned dollars work hard for you?
What if you had $1M in an annuity and $1M in a Bank on Yourself type Whole Life Insurance policy?
What happens when the account value is gone?
What is an ideal safe withdrawal rate?
How can you protect against running out of money?
What if we spend down the whole life policy earlier and allow the annuity to keep growing?
Which vehicles give you the most income in retirement?
Where are the guarantees in the stock market?
Is it possible to predict what the market will do?
Who is better at choosing stocks? Hedge fund managers or monkeys?
Would you like peace of mind?
Would you like your money to be there for you no matter what happens?
What are people saying?
Would you like to send us a review?
Would you like a free copy of the Bank on Yourself Revolution book?
Email us at hello@nyafinancialpodcast.com
Would you like to book a meeting with Mark?

Episode 79: The Hidden Problems of Living Too Long

March 8, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

What is a necessary risk?
What is an unnecessary risk?
Do you need a side hustle?
How do we manage risk?
Where do we need to go from here?
What is FINRA?
What are the 21 categories of risk from FINRA?
What are the two types of risk?
What is an example of pure risk?
What is an example of speculative risk?
What is purchasing power risk?
What is the consumption assumption?
Do you spend more on your days off?
How much do you expect the cost of consumer goods to increase over the next 20 or 30 years?
How much have health insurance premiums risen since 1999?
Will health care costs eat up your retirement income?
What about systemic risk or market risk?
Does staying in the market longer protect you?
Would you like to review Episode 51: Does Buy and Hold Work?
Would you like to review Episode 52: A New Perspective with Les Himel (Part 1)?
Would you like to review Episode 53: A New Perspective with Les Himel (Part 2)?
Are you exposed to political risk or tax risk?
What about the risk inherent with sequence of returns?
What about the average rate of return?
What about the IRA money being allocated to a nursing home?
What about the risk of elder fraud in your senior years?
What about the death of a spouse?
What about the risk of dismissing long term care?
How much does long term care typically cost?
What are the unavoidable risks?
Which of these risks is the most important?
What about the risk of living too long?
How do you protect against living too long?
What is protected income?
What if you could create a passive income stream, that even if you run out of money, you would never run out of money?

sequence of returns

Episode 78: What’s So Secure About Social Security with Bill Rainaldi, CFP®

March 1, 2019 by Not Your Average Financial Podcast

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In this episode, we ask:

Who is Bill Rainaldi?
What is Social Security? When was it started?
How much of your income is withheld from your pay for Social Security?
How does Medicare factor in?
What is the average Social Security income?
Can you rely on Social Security in retirement?
How long do you have to work before you qualify for Social Security?
What is a spousal benefit?
What are the mistakes people make with Social Security?
How much do these mistakes cost?
Are the Social Security personnel unable to give financial advice?
What is a survivor benefit?
Why is it important to consider your spouse in the decision on when to claim the benefit?
What if there is an age difference with the spouse?
What is the earnings test?
What is the most common age for people choosing to receive the benefit?
What happens if you’re still working?
Are you trying too hard to get the maximum benefit?
How does the formula work?
Who benefits more from Social Security – a high or low income person?
What is the rate Social Security benefits are taxed at?
Are you making too much in income?
Is Medicare free?
What about Medicare Part B?
What is MAGI?
How can you manage your benefits properly?
What about Medicare Part D?
How do you stay below certain thresholds?
Can your Social Security benefit go down?
What about brackets?
Will Social Security be around in the future?
What is happening with the retirement age?
What action steps can you take to better prepare for Social Security?
Can you live on Social Security benefits alone?
Have you and your spouse visited ssa.gov to find your best claim option?
Would you like a free Social Security analysis? Book A Meeting

A Lehigh University graduate, William Rainaldi is a Regional Vice President for Security Mutual Life Insurance Company of Binghamton, NY. He is a leading U.S. authority on Social Security and its impact on retirement planning. He has an extensive background in life insurance, business & investment concepts and computer technology.

In 2015 he was the featured presenter in a series of Social Security webinars sponsored by Trusts and Estates magazine and Wealthmangement.com. In 2017, he was a featured guest on Laura Adams’ Money Girl podcast, produced by Macmillan Publishing.

Mr. Rainaldi is a Certified Financial Planner™ and an Accredited Estate Planner (AEP). He is married with three children and two grandchildren. You can reach Bill via email at WRainald@SMLNY.com.

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