Not Your Average Financial Podcast™

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 174: Life Insurance on Your Kids

January 1, 2021 by Not Your Average Financial Podcast

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In this episode, we ask:

Can you imagine yourself in a forest?
Why in the world would we have life insurance on a young child?
What about life insurance on grandchildren?
What about annual premium?
What about 20-year-old policies?
What’s an example?
What about compounding growth?
What about the time value of money?
What about uninterrupted compound growth?
What about tax, under current law?
What about changing your family tree?
What about risks?
What about cash value?
What about purchasing cars?
What about policy loans?
What about Bank on Yourself type whole life insurance policies?
What about house purchases?
What about international trips?
What about cash flow real estate?
What about teaching children to prepare for the next generation?
What about covering multiple generations?
What about underwriting?
What about tax advantages?
What about the outlay?
What about the grandparents?
What’s Mark’s story?
How might a death benefit from the matriarch or patriarch set up the family for generations?
How might life insurance greatly simplify the estate planning process?
What about creating a wealth mentality?
What about the psychology over multiple generations?
What about a mindset?
What about promoting an understanding?
How old is this idea?
What about the Rockefeller’s?
How might you educate?
Do you assume your child will go to college?
Do you assume your grandchild will go to college?
Who wants to push back against average advice?
Is the college degree now overrated?
What about teaching your child?
What about learning to think like a banker?
What about examples?
Does age matter on a policy?
What is the potential?
What about growth?
What about market risk?
What about policies on your kids?
What’s Anita’s story?
How is life insurance different in Canada?
What about cash value growth?
What about buying cars?
What are the benefits?
What are the drawbacks?
What is the example on Million Dollar Baby?
What about future grandchildren?
Would you like to join our NEW! Not Your Average Financial Community?

Anita Bennett, a Vancouver born and Vancouver Island raised SFU Business Graduate who started her career specializing in Marketing, has been working with families since 2010. Her first business, a play-café called Kinder Café, was located in Port Coquitlam, BC, and was dedicated to providing a safe place for the community to connect with their children.

Anita believes that having a strong financial plan & investment strategy is the backbone of every family’s future success. She is dedicated to providing families with the information that they need to start the right investment savings and protection plans for their family and their children.

Having lost her father at the age of 29, and having lived the impact of her husband having a life-threatening illness, Anita knows how important it is to have disability and life insurance to protect the financial well being of a family’s future and the standard of living.

Anita is a mother of two and a step-mother to three children. When not educating parents on financial & investment strategies, she is out playing soccer in the Metro Women’s Soccer League, as well as coaching her children’s soccer teams.

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 172: Am I Too Old for Bank on Yourself®?

December 18, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

Have you ever seen the movie, The Little Shop of Horrors?
Are you working because you want to or because you must?
What about running out of money?
What about death?
What about pensions?
What about 401(k)s?
What about health problems?
What about life savings?
What about social security?
Can one live on social security?
What about senior’s expenses?
What is the amount of the median retirement account?
Do you “pull your own teeth”?
What about TDFs?
What about AUMs?
Who is concerned about their pension?
What is the root cause?
Is it possible to lower your risk profile?
What about peace of mind?
What do Bank on Yourself® type policies offer?
Is it too late to start a Bank on Yourself® type policy?
Are you too old to start a Bank on Yourself® strategy?
What about cash value?
What about safety?
What about predictability?
What about returns?
What about massive cash accumulation?
What about access to cash?
What about liquidity?
What about long term care insurance?
What about using it or using it?
What about a 50 year old man?
What about a 60 year old man?
What happens to the expenses as you get older?
What about working with a Bank on Yourself® professional?
What about Bill Williams?
Have you read Pamela Yellen’s book, The Bank on Yourself® Revolution?
How many policies does Bill have now?
How did Bill do this?
What about taxes?
What about Tom?
Have you read Rescue Your Retirement yet?
Would you like a free copy?
What are the concerns?
What about required minimum distributions or RMDs?
What about a fixed indexed annuity?
What about taxes?
What is an increasing income rider?
What about a 10-pay policy?
What about money in the 401(k)?
What about day trading?
What about the concerns?
What is your case study?
Would you like to subscribe to be a part of our community?

Episode 171: Unemployment, Post-COVID with Nicole Martin and Katie Cummins

December 11, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

Are you unemployed?
Are you faced with challenges, as a business owner?
Who is Nicole Martin?
Who is Katie Cummins?
What about leadership?
What about shared leadership?
What ingredients do you have to put on the table?
What’s the state of our current employment landscape?
What’s the biggest competition?
What happened with the low wage jobs recently?
What about the other industry shifts?
What will the talent pool look like post-COVID?
What happens to the workplace?
How might we adjust?
What changes do we need to make?
What about furloughs and layoffs?
What about industries that need more staff than they can locate?
What about virtual work?
What about working in the office?
Will we go back to the way things were before?
What are some fun and creative things happening in this new normal?
What about fun family activities while working from home?
What about meeting pets and family members of coworkers for the first time?
How might we develop caring?
What about the Best and Brightest survey?
To whom might you reach out?
What does this crisis make possible?
What about a chaplain?
What about Zoom Bingo?
What about drink parties?
What about high performing businesses?
What are the four pillars of a high performing business?
What about shared core values?
What about everyone being a leader?
What about transcendent organizational value and purpose?
Have you ever just asked why?
What about performance excellence?
What about measuring indicators?
What about growth mindset?
How might we innovate?
What about trying something new?
Is now the time?
Are you a leader of the future?
Would you like to be in business for yourself but not by yourself?
Do you love what you do?
What does it look like to create your own path?
What about truth telling?
Would you like to apply to work with Mark and the Lake Growth team? bit.ly/worklg
What does HR Boost do for clients?
What about the free scorecard?
What are the takeaways?

Nicole Martin is Chief Empowerment Officer and Founder of HRBoost, LLC, a HR Shared Services consulting firm based in Chicago, Illinois. In recognition of her professional excellence as well as her community, Nicole has been honored by multiple organizations including most recently as one of Mirror Review’s 10 Game Changing Women in 2019. Awardee for Business Excellence by the Chicago Daily Herald, and a 2016 Enterprising Women of the Year Champion by Enterprising Women Magazine. A sought-after expert, her knowledge and advice have been featured in newspapers and magazines throughout the country. In addition, Nicole is the host online of HR in the Fast Lane and contributing writer for the Chicago Business Journal. Nicole has authored, International Literary Award and Amazon Best Seller, The Talent Emergency, the accompanying Talent Emergency Guidebook, The Human Side of Profitability, The Power of Joy & Purpose, and her newly released co-authored book No Fear Negotiation for Women. Nicole serves on a number of Boards dedicated to Human Capital, Culture and HR Excellence of which include Best & Brightest® Companies to Work For, Social Service in the community and Women in Business. To learn more about Nicole, go to www.hrboost.com or www.nicolemartin.live

Katie Cummins is a talented Human Resource professional and leader with experience across multiple industries and HR practices. She is an HR Consultant with HRBoost, LLC, an HR outsourcing and consulting firm. HRBoost believes every business deserves Strategic HR from day one and provides fully integrated HR outsourcing to HR projects and everything in between.

Episode 170: Sick of Health Insurance? Here’s an alternative with Joel Noble and Samaritan Ministries

December 4, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

What’s one of the top reasons people go broke?
Who is Joel Noble?
How does Joel define leadership?
What is Samaritan ministries?
What is a “non-insurance” way to meet medical needs?
What about the ongoing crisis in medical needs?
What is the cost of health coverage for most families?
What about “cutting out the middle man”?
What about risk assessment?
What about the cost?
What is the new program, “Given”?
How did Samaritan start?
What were price controls?
What are the origins of employer based health insurance?
How did employer based health insurance take off?
What about the mandate?
What about the penalty?
What about health care sharing?
What’s the history of health care sharing?
What about Mennonites and Amish barn raising?
What about community “pots”?
What about health care expenses?
What about monthly health care cost sharing?
How much does Samaritan’s network circulate monthly?
What about trust?
What’s the difference between a share and a premium?
How is this different from a health insurance?
What happens if a family misses a share?
Want to hear Mark’s injury story?
What was Mark’s experience?
What about Joel’s experience?
What other advantages are here?
What about community?
What about networks?
What about going out of network?
What about the freedom to go where you want?
What about assumptions?
Who is this not for?
How is insurance ingrained into our society?
What about medical debt?
What about medicare?
What about opting in?
What about a waiver?
What are the penalties?
Are there prohibited services?
What about medical tourism?
How are members incentivised to make savvy financial choices?
What is healthcare bluebook?
How might one look up procedures and providers?
What about the online access?
What about the need?
What are the out of pocket costs?
How is this different from a high deductible health plan?
How many people in the U.S. are doing this?
What does Joel wish people knew?
What about the affordable care act?
What about faith based nonprofits?
What happens if people become sick?
What about the ACA penalty for members?
Would you like to learn more?
What are the takeaways?

Joel Noble is Director of Public Policy at Samaritan Ministries International, where he has served since 2001. He directs the ministry’s legislative program, advocating with federal and state governmental bodies. He also consults for the Alliance of Health Care Sharing Ministries. Joel earned his bachelor’s degree in history education from Illinois State University, with an emphasis on political science, geography and sociology. He completed a Master of Arts in leadership studies from the Seminary at Lincoln Christian University, where his final research paper focused on what the Bible teaches on the proper jurisdiction of the family, church and civil government. He has been married to his wife, Sarah, for 19 years. They have four boys.

Episode 169: How to Give Double to Your Favorite Charity, Without Any More Out of Pocket!

November 27, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

Have you wished you could give more?
How might you leave a substantial legacy?
How might your gifts affect generations?
Who is Mark Willis?
Would you like to have a meeting regarding charitable giving? Would you like to book a meeting with Mark at lakegrowth.com/schedule to discuss?
What about old debt?
How might we help the charities thrive?
How about thinking through a game plan?
What are the options for giving?
Are you making an exit strategy?
What about nonprofits?
What about donor advised funds?
What about foundations?
What about endowments?
What about trusts?
Are we a saving nation or a debt nation?
What about finite resources?
How large are the debt payments?
What happens when we haven’t been able to give?
When are donors least likely able to give?
Why is giving so important?
What happened in the year 2020?
Can one donate debt?
Why is debt so heavy?
Who is sitting behind the banker’s desk?
What if you could use the idea of banking to your advantage?
What about buffering against inflation?
What about dividend paying permanent whole life insurance?
What about impacting your personal life?
What about impacting the charity, as a donor?
What are the possibilities for beneficiaries?
What about the dividends?
What about the guarantees?
What about the interest?
What about the parable of the talents?
How fast could a charity get access to money?
Can you give cash value to a charity?
What about using the cash value for personal benefits?
What about charitable gifts?
Are you an insurable interest to the charity?
Can the charity be the owner and beneficiary of a policy?
What about tax savings?
What about doubling the gift?
What about an example?
What about a policy loan?
What about church gifts?
What about church leader care?
Can you purchase life insurance policies on a church?
What is a key person policy?
What about annual or routine giving?
What about tax deductions?
What about how it feels?
How do you give to your favorite charity?
Why do you give to your favorite charity?
What about giving on a limited budget?
How long does an example take to “pay for itself”?
How is this different from traditional “pass the plate” strategies?
Do you simultaneously need the gift for your own needs?
What about a car loan example?
What about age?
What about numbers?
What happens if you pass away?
What happens if you need income?
What about a Bank on Yourself type whole life insurance policy?
What does this all mean?
What’s the difference with the charitable banking strategy?
How is this a win/win situation?
What are the considerations?
What are the downsides?
Is this a long term strategy?
What about a leaving a legacy?
Who do you need to tell?
Would you like to see if this makes sense for you?
Would you like to talk with Mark about charitable giving? Schedule a phone introduction appointment with Mark.
How is it possible to double a legacy?
What about the tax implications?
Would you like to make your dreams for a better world come true?

Episode 168: Robert Farrington, the College Investor

November 20, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

What’s the number one thing in your financial life?
What is the moment that compounding can work for you?
Would you like to work with Mark? Learn more and apply at bit.ly/worklg
How much student debt is there?
How did Robert earn his first dollar?
How did Robert’s article get so many eyeballs?
What about student loan debt?
What’s Robert’s story?
What are the implications of student loans?
How did Robert get debt free?
What about increasing income?
Who knows how many they have?
Did you take out loans with your parents?
Did you take out loans with your kids?
What are Robert’s 30 ideas for passive income?
What repayment can you afford?
Should you kick the can down the road?
What will you do for the next five years?
Do you have a system that works for you?
What are the odds of loan forgiveness?
What programs are available?
Are you into public service?
Can you get something for nothing?
What are the general rules of thumb?
What about refinancing?
What are the problems with Parent Plus loans?
What about family drama?
What about legal responsibility?
What are the rates now?
Should you be debt free before doing anything else?
What about the rate of return?
What about time?
Can you be this age again?
Would you like to visit thecollegeinvestor.com?
Would you like to learn more at loanbuddy.us?
What about consistency?
What about sticking with it?
What are the takeaways?
What about the volume of time?
What about refinancing student loan?
What about 529 plans for paying off student loan debt?
What are the takeaways?
Would you like to join us on Zoom, Tuesday, December 1?
- When: Dec 1, 2020 02:00 PM Central Time (US and Canada)
- Topic: Savings Smackdown – Save Now or Save Later
- Register in advance for this webinar. After registering, you will receive a confirmation email containing information about joining the webinar.

Robert Farrington is a student loan debt expert and the founder of The College Investor. He has been helping people navigate student loans, investing, and wealth-building for over 10 years.

Episode 167: Don’t Worry, Retire Happy with Tom Hegna

November 13, 2020 by Not Your Average Financial Podcast

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In this episode, we ask:

Who is Tom Hegna?
What was Tom taught at a young age?
What about savings?
What about a Math Party?
What’s the problem?
What needs to change?
What does retirement mean for Tom?
Are you getting any younger?
Can you take any of it with you?
What does Tom think about annuities?
What’s the stupidest thing someone can do?
What’s the difference between variable and fixed indexed annuities?
What about bonds?
What about income annuities?
What is retirement all about?
Is guaranteed lifetime income possible?
What about AUM (assets under management) fees?
What do the retirement studies say?
Do you have enough income for basic expenses in retirement?
Is there a substitute for guaranteed lifetime income?
Why do people rebel against the optimal?
What are Tom’s books?
What does AAA mean?
What does CCC mean?
What’s a mortality credit?
What else do you need to learn?
Would you like to work with us? See the job description here: http://bit.ly/worklg

Tom Hegna, CLU, ChFC, CASL, is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be THE Retirement Income Expert!.

As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature “Paychecks and Playchecks” retirement approach, helping Baby Boomers and seniors retire the “optimal” way. He has condensed a large chunk of his considerable knowledge into 5 books.

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