Not Your Average Financial Podcast™

Episode 325: [Mythbusters] Thanksgiving and The Tragedy of the Commons

November 24, 2023 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? Let us know!
What about learning to share?
What about a story?
What about written accounts from the pilgrims?
What about sharing?
Would you like to hear Episode 223?
What about contributing to one another?
What about ownership?
Who gets to enjoy a great harvest?

Episode 324: The Earth is Abundant, and the Ultimate Scarce Resource is Time (and Imagination)

November 17, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

How do you use your time?
How might you increase the quality and quantity of time?
What are the four types of currency?
How incredibly abundant is our world?
What about scarcity?
What about capital good?
Do you view time as a valuable resource?
Is population growth a major problem?
Are we running out of resources?
What about gold?
What about inflation?
How many hours do you need to work?
What about prices dropping?
What about time?
What about abundance?
What about optimism?
What about challenging conventional wisdom?
What about economizing your time?
What about this year?
What about this week?
What about today?
What about delegation?
What about creating and keeping a budget?
Would you like to join the FREE Not Your Average Financial Community?

Episode 323: Why Dave Ramsey Uses Disgust to Get You to Believe Him

November 10, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

Do you remember the elementary school cafeteria?
What about hair nets?
Who was Edward Bernays?
What about public relations?
What is disgust for?
What about avoidance?
What about rejection?
What about punishment?
What about the basal ganglia?
How are we manipulated by disgust?
What words elicit disgust reactions?
What does Dave Ramsey say in his book?
What does he say in his article, The Truth About Life Insurance?
What does Dave Ramsey say about the stock market?
Who is the Edward Bernays of the financial infotainment industry?
What licenses does Dave Ramsey hold?
Who is A.L. Williams?
What is happening behind the scenes with the stock market?
Do you trust that company?
What about being over the top?
What about paint-by-number thinking?
What about nuance?
What about manipulation?
What about bias?
What about repeating what other people have said, without thinking?
Would you like to hear Episode 302?
How many influences are recommending?
What is the recourse?
What about Franz Kafka?
Is insurance a primitive religion?
What about rational thinking?
What about magical thinking?
What did Orit Tykocinski say?
Do you have health insurance?
Do you feel less at risk?
Why do we buy insurance?
What about the word “sure”?
What about lack of doubt?
What about the advertisement?
What about the logos?
What about the warranty?
What about avoiding the pain of loss?
What about loss mitigation tactics?
What about life insurance?
What about guarantees?
What are the chances of the claim being paid?
Why is whole life insurance different from other types of insurance out there?
Does the stock market have guarantees?
What percentage of term insurance policies result in the insurer paying a claim?
What are the lessons?
Am I buying for the right reasons?
Am I just trying to please my psyche?
What about getting motivated to take action?
Is it something that you truly want?

Episode 322: Navigating the Underwriting Tunnel of Chaos with Amanda Neely

November 3, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

Have you ever been stuck?
What about the uncertainty?
What about the waiting?
What is the underwriting tunnel of chaos?
Who is Amanda Neely?
What about a frank conversation?
What about frustration?
What about making the world a better place?
What about transforming how money works?
What about Bank on Yourself®?
What are the misconceptions?
Who can qualify?
What is bananas?
What about health?
What about giving blood, urine and medical records?
What about assumptions?
Are you too old?
Are you too young?
Are you too sick?
Are you healthy?
Do you have too many pre-existing conditions?
Do you have unusual circumstances?
What about being pregnant?
What about financial details?
What about getting something that is hard to get?
What is it like going through underwriting?
Who is the owner?
Who else could be the insured?
What scenarios are possible after a decline?
What are some family strategies?
What about spouses?
What is a table rating?
What about smokers?
What about being postponed?
What about trying again?
What about the steps?
What about pro-tips?
What about direct primary care (DPC)?
What is an attending physician’s statement (APS)?
How can an applicant get access to their APS?
Why do we need medical information with life insurance?
What’s the difference between a possible claim and a guaranteed claim?
How is life insurance different from property and casualty insurance?
What about guarantees?
Why are the insurers so selective?
What about a common competitor?
What about adverse selection?
What about converting term insurance?
Would you like to hear Episode 187?
What is the problem with converting to indexed universal life (IUL) insurance?
Why are IUL premiums going up?
What is the accelerated underwriting program?
Why is this a good deal for the insurer?
What is good news for the whole life insurance policy holder?
Would you like to reach out to Amanda Neely at wealthwisdomfp.com?

Amanda Neely, CFP® is a Certified Financial Professional® and Bank on Yourself® Professional, who uses her years of experience in business growth to develop personalized financial strategies for individuals, couples, and entrepreneurs. She works with people to find their unique path to financial freedom. Reach out to Amanda at www.wealthwisdomfp.com

Episode 321: How to Give Your Child the Gift of Bank on Yourself® with Amanda Neely

October 27, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

Have you seen this meme?
How many cookies?
What would your 18-year-old self choose?
Who is Amanda Neely?
Would you like to listen to more Not Your Average Financial Podcast episodes with Amanda Neely?
What’s the right time?
What does Amanda wish she had when she was 18?
What did Mark Twain say?
What is Bank on Yourself® and who is Pamela Yellen?
What steps did the father have in mind?
What is the flexibility?
What are the limits?
What is the design?
What about continuing to save?
What about modeling?
How much can you save now?
How much do you want to enjoy life?
What is the balance between enjoying life now and saving, so you can enjoy life later?
What is the custom design for your family’s financial story?
What about uninterrupted compound interest with savings?
What happens with a brokerage account?
What about foundational wealth?
Who will stay in really great health?
What about joy?
What about (living without breaking) compounding?
Have you read the Bank on Yourself Revolution by Pamela Yellen?
Would you like to see the sailboat on the Bank on Yourself Engineering podcast?
What are the components?
How can the family share the components?
How does this open up possibilities?
What’s the exit plan?
What are some design ideas?
What can a parent do with forethought?
What information do the young adults need?
What about expectation management?
Why should parents talk with their kids about policies?
Why do parents set up policies with their kids?
Why do parents gift policies to adult children?
Would you like to reach out to Amanda or Brandon at 513.447.6501?
What are the takeaways?

Episode 320: Where Do Life Insurance Companies Put the Money? with Mary Ward

October 20, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

Have you ever seen How It’s Made?
How do insurance companies operate?
How do insurers manage their finances, so they enough money to pay claims?
How do insurance companies put your money to work?
How have they managed to do this for well over a century without fail?
How do they manage challenges, like pandemics?
Who is Mary Ward, SVP and CFO from the Security Mutual Life Insurance Company of New York?
What is a mutual life insurance company?
What about the culture?
What about the team?
Why is it important to work with a mutual owned company (vs. a publicly traded company)?
What about dividends?
What about assumptions?
What are the options?
What about a return of premium?
What are the goals?
Who does the insurer want to please?
How long has SML been in business?
How have they paid dividends for 132 years, even through the Great Depression and Covid?
What happens when mortality levels go up?
How many dividend paying stocks have paid out over 132 years? Do you know of any?
Where do insurance companies put the money?
What about invested assets?
What about liabilities?
What is the risk appetite?
Why are insurers risk averse?
What about regulations and stress testing?
How do the investments line up with mortality rates?
What about NAIC rankings?
What about diversification?
Why do insurers steer clear of stocks?
What about real estate and infrastructure debt?
What was happening with the banking trouble?
Why didn’t we hear about insurance company trouble?
Who pays death claims every day?
What about New York State testing?
What if you have extreme mortality?
How often must SML prove their capacity to manage extreme mortality events?
What about permanent products, such as whole life insurance?
What about cash value?
What is the value of having life insurance in place?
What are the key performance indicators for Security Mutual?
What about $3B in assets in 2022, despite Covid?
What about Houston, Texas?
What is a capital to asset ratio? Why does it matter?
How does capital grow?
What about risk based capital?
What about being strategic and managing reserve capital?
What about long-range thinking?
What about a new facet on the gem?
What about the opportunity and flexibility of working with whole life insurance?
What about questions?
What are the takeaways?
What about choosing a reliable, secure provider?
What about exploring whole life insurance?
What about researching before you make a decision?
What about the track record and history of these companies?
How long have they been paying guarantees and dividends?
What about seeking out professional advice?
Would you like to meet with Mark or one of Mark’s colleagues?

Mary Ward is the Senior Vice President and Chief Financial Officer at Security Mutual Life Insurance Company of New York, where she oversees the Company’s fiscal functions, including strategic initiatives, financial reporting, expense management, and relationships with rating agencies and regulatory bodies, and is also Co-Chair of the Enterprise Risk Management Committee.

Outside of work, she enjoys outdoor activities, and spending time with her family. Mary received her Bachelor of Business Administration, Accounting, and Business Management from St. Bonaventure University.

Episode 319: The Genius of Business Franchising with Marty Greenbaum

October 13, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

Who works as a W-2?
Who wants control over their own business?
What are the benefits of franchising?
Who is Marty Greenbaum?
How about a case study?
What about junk?
Who needs experience first?
How about regional territories?
What’s good about franchising?
Who works with Marty?
Where did Marty’s passion come from?
How many franchises are there in the U.S.?
Is this applicable to your business?
Who is in the business of royalty collection?
What about a vested interest?
What are the advantages to a franchise business model?
Who are the right kinds of people for franchising?
What about an example?
What are the attributes of the top performers?
Who is a good candidate?
Who gets awarded a good franchise?
What are the mistakes or pitfalls to avoid in franchise purchasing?
What about the legal standpoint?
What about the due diligence?
How is the territory determined?
What about speaking with existing owners?
What about mitigating risks?
What about franchise financing?
What about range?
How long does it take to get cash flow positive?
Are banks the final resting place for many businesses?
How does Marty get paid?
Would you like to visit smartfranchiseinvesting.com?
What about industries?
What about brands?
What about thorough due diligence?
What are the right questions?
How are you going to buy this thing?
What about Bank on Yourself® type whole life insurance?

Marty Greenbaum is a top franchise consultant with over 30 years of experience in franchising. He served his family’s franchise opening hundreds of locations and then grew an extremely successful marketing agency in franchising helping brands achieve their goals. He’s a Certified Franchise Executive and Founder of Smart Franchise Investing and is dedicated to helping people make smart decisions when it comes to franchise ownership. He’s helped hundreds of people explore franchise ownership, serving them as a franchise consultant, educator, and matchmaker. Email Marty at marty@smartfranchiseinvesting.com

Episode 318: Occam’s Razor Burn Using Premium Financing

October 6, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like the ultimate shaving tool?
What is Occam’s razor?
What about necessity?
What about the simplest solution?
What is the best option or model?
What is premium financing?
What is happening with the estate tax limits?
What about leverage?
What has this led to?
What are the risks?
Do you need it?
Can you afford it?
What about finding the winners and losers?
Is there a trend here?
What about an example?
What are the steps?
What is the allure?
What are the risks?
What is the exit strategy?
If everything worked out perfectly, what would happen?
What about the relationship with the bank?
What is a floating rate?
What about reapplying after a period of time?
Is this a good deal?
What happens in a rising rate environment?
What happens to the interest?
What about the accumulation feature?
What about collateral?
What about a spiral of expenses?
What happens if they can’t pay the premium?
What are the circumstances?
What happens when the loan is gone?
What about a cancellation?
What about leverage?
What about paying out of pocket?
What about estate tax liability?
What about other needs?
Is there any cash value available the policy owner?
Where does this leave the policy owner?
What is the biggest risk?
Is the loan larger than the cash value?
What if interest rates rise?
What if caps and spreads fall?
What about coming up with the money?
What are some stress tests?
What about a death benefit?
What about those with extremely high net worth?
Are you crawling back into the banker’s pocket?
What is the financial incentive for the bank?
How much loan interest is the bank collecting?
What about collateral?
What about the insurance agent?
What about the commissions?
Would you like to hear Episode 36?
Who is retiring first?
Is your money in a complex environment?
Is your money in a simple environment?
Who has control?
Would you like to join our FREE Not Your Average Community?

Episode 317: [Client Spotlight] Homeschooling, Amazon and Financial Freedom with Kate Chattic

September 29, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

How about a story?
What about unforgettable memories with your loved ones?
Who is Kate Chattic?
What happened on Kate’s recent adventure?
What large costs emerged?
What about creative solutions?
How did Kate use her policy loan?
What about problem solving?
What about teaching?
What about resilience?
What about selling on Amazon?
What does a day in the life look like?
Why did Kate start her Bank on Yourself® type whole life insurance policies?
What are the best plans?
What about getting your hands in dirt in gardening?
What about naming the money?
What about an emergency fund?
What about buying a vehicle?
What about choosing to pay back a loan very quickly?
What is Kate’s advice?
What about the generations?
When is the best time to plant a tree?
What are the takeaways?
Would you like to join the FREE Not Your Average Financial Community?

Kate Chattic is a homeschooling mother of seven, yes SEVEN, children! Two of those kids have grown up and flown away to new adventures, but while they were teenagers they aided her in starting a business on Amazon in 2015 that grew to become the full-time income for their family. It took just 2 years to bring her husband, Nate, home from his job to join his family in the business and homeschooling the children. Now their time is spent running their business, teaching others how to sell on Amazon and sharing how to utilize life insurance creatively! katechattic.com

Episode 316: Living Off Rentals with Kirby Atwell

September 22, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

What about short term rentals?
Who is Kirby Atwell?
What’s Kirby’s story with money?
What lessons did Kirby learn?
What about the sheep?
What happened when Kirby was in the army?
What did Kirby read?
What did Kirby realize?
What is Kirby’s unique model for short-term rentals?
What about several thousands dollars a month of net cash flow?
What about “the Albany model”?
What about a utilitarian model vs. high end model?
What about competition?
What about traditional or primary markets?
What is the biggest challenge in this model?
What happens throughout the seasons?
What is the situation on the ground right now?
What about interest rates?
What about loan programs for investment properties?
What about service costs for higher price points?
What about small multi-units?
What about structure?
What about DSCR?
What about long-term vs. short-term rental?
What about using a Bank on Yourself® type whole life insurance policy for down payments?
What about leverage?
What are the typical results in these markets?
How did Kirby discover his passion for short term rentals?
What is the worst case scenario?
What about the capacity to have a bigger impact?
What is the First Vacation Rental Investment Blueprint program?
Would you like to start Kirby’s masterclass?
What are the takeaways?
What is DSCR loan?
What about private money?
What about Bank on Yourself® type life insurance policies?

Kirby Atwell served 6 years as an officer in the US Army, after Graduating from West Point Military Academy. While serving in the military he developed a strong interest in real estate, and he bought his first rental property in 2006. In 2011, he left the service to pursue real estate full time. He started his first real estate investment company, rehabbing over 100 properties either to flip or keep as rentals in the Chicago area. Today, Kirby primarily focuses on investing in high-cash-flowing vacation rental properties. He owns a portfolio of vacation rentals in northern Indiana, where he lives on a 45-acre farm with his wife and young kids. He also helps others who work a full-time job to buy and set up their first high-cash-flowing vacation rental through his signature program called The First Vacation Rental Investment Blueprint. Kirby is the host of the Living Off Rentals podcast and YouTube channel.

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