Not Your Average Financial Podcast™

Think different about your money, your economy and your future. Be curious. Be stable. Be sane.

Episode 405: [Mailbag] Your Questions, Our Answers

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In this episode, we ask:

  • What questions do you have?
  • Would you like to join our FREE! Not Your Financial Community?
  • Can someone use an annuity to roll money out of a qualified plan like a 401(k) or an IRA? Is this for people over 59.5 or younger than age 59.5? Can you get money out of a 401(k) and into a life insurance policy?
  • What about the tax bill?
  • What about the early 10% withdrawal penalty?
  • What about paying off a debt?
  • What about rolling over into a fixed indexed annuity inside of the IRA?
  • Would you like to hear Episode 172?
  • Can I get accumulation and guarantees on an annuity without taking income on it?
  • What about MYGAs (multi-year guaranteed annuities)?
  • Would you like to listen to Episode 280?
  • Would you like to meet with Mark?
  • What is an enhanced index option?
  • What is a SPIA (single premium indexed annuity)?
  • What call has Mark never had to make?
  • What about an annual income?
  • How is this better than CDs or bonds?
  • What is the refund option on a SPIA?
  • What is the best way to take income on the cash value of a policy?
  • What happens with withdrawals?
  • What is the cost basis?
  • What are the tax implications?
  • What happens if you take the gains out?
  • What about taking a loan from the policy?
  • What happens to the death benefit when you take a loan?
  • What does your beneficiary receive upon death?
  • Our adult child lives on his own, and since we are uninsurable, can we get a policy on him?
  • What are the limits?
  • What is the insurable interest?
  • What about gifting premium?
  • What about a joint trust?
  • Do you offer comprehensive planning beyond setting up Bank on Yourself® type life insurance policies correctly?
  • Would you like to join our FREE! Not Your Financial Community?
  • Do you like mailbag episodes?
  • What questions do you have?

Episode 404: Escape the Grind! Jason Duncan’s Exiter Club

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In this episode, we ask:

  • Are you in the daily grind?
  • Do you need a better strategy?
  • Who is Jason Duncan?
  • Would you like to listen to Episode 289?
  • Who needs their time back?
  • Who needs their business on track for maximum valuation?
  • What’s Jason’s story?
  • What about focus: following one course until successful?
  • What epiphany did Jason have in July of 2024?
  • What are the four main currencies (team): time energy attention money?
  • What’s the difference between a consumer and wealth creator?
  • Why did Jason decide to focus on the Exiter Club?
  • What about making a choice?
  • What are the three tiers of the entrepreneurial evolution?
  • What about tier 1, owner operators?
  • What about tier 2, owner managers?
  • What about tier 3, owner investors?
  • What about the business as an asset?
  • Is this business sellable?
  • What do your employees deserve?
  • What is the allure and risk to becoming an entrepreneur?
  • What are some transformation stories?
  • What is the hero syndrome?
  • Is there another way?
  • What is a privilege and responsibility?
  • What is a building that only has one opening?
  • What about the first stream of income?
  • Is diversification always a good idea?
  • How does Bank on Yourself® help me succeed in my business ventures?
  • What problems have you solved?
  • What do you want?
  • What are you trying to get?
  • Would you like to join the Exiter Club?
  • Would you like to connect on the FREE Not Your Average Financial Community™ membership site?
  • What are the takeaways?
  • Would you like to visit therealjasonduncan.com?

Jason Duncan is the Founder & CEO of The Exiter Club, a mastermind helping high-level entrepreneurs break free from the grind and scale their businesses.  Best-selling Author of Exit Without Exiting.  Host of The Root of All Success podcast.  America’s Exit Coach, known for helping entrepreneurs step away from daily operations without losing ownership or profits, Jason’s mission is to help entrepreneurs build businesses around their lives, not the other way around. Using his #ExitWithoutExiting strategy and XOS™ Method, he helps business owners create systems that allow their businesses to thrive independently, giving them more time for what matters most. Clients who follow Jason’s methods have reduced work hours by 30%, increased productivity by 80%, and boosted business value by 30%. Featured in Inc. and Entrepreneur magazines, Jason has become a recognized expert in helping entrepreneurs scale their businesses while achieving true autonomy and freedom. therealjasonduncan.com

Episode 403: Backtesting IULs and Stocks. When Past Performance Doesn’t Even Predict Past Performance!

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In this episode, we ask:

  • What was born 129 years ago today?
  • What has Mark learned?
  • Have you ever seen the phrase, past performance is no guarantee of future results?
  • What about marketing?
  • What about backtesting?
  • What is an index?
  • How is the Dow Jones constructed?
  • How are the stocks in the S&P weighted?
  • What is the supersized Dow?
  • What about target date funds (TDFs)?
  • Where do TDFs live?
  • What about options?
  • What about make-believe simulations?
  • Does past performance reflect past performance?
  • What about the real-time rapid change in the numbers?
  • What factors should we consider?
  • Why bet your retirement on backtesting?
  • What about historical averaging?
  • What about broader trends and contractual guarantees?
  • What about IULs?
  • What about charts looking at a dollar invested in 1929…?
  • Can you drive your car forward by looking in the rearview mirror?
  • What are the takeaways?

Episode 402: Fee Comparisons of Bank On Yourself® Whole Life vs. Investments with Evan Greathouse

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In this episode, we ask:

  • How might you finance your future without the fees?
  • How might you grow and accumulate wealth?
  • How about the transformative reality of whole life insurance?
  • Who is Evan Greathouse?
  • How about comparing the costs?
  • How about a case study?
  • Would you like to hear Episode 143?
  • What about irregular or variable premium amounts?
  • What about flexibility?
  • What happens when premium payments stop?
  • What about whole life insurance commission?
  • What about investment advisor fees?
  • Who makes more?
  • What about the performance?
  • What about the outcomes?
  • What about the liquidity of the cash value life insurance?
  • What about the fees and taxes on the investment account?
  • What are the limits of a Roth IRA?
  • What about capital gains tax?
  • What about the cash value?
  • What you like to hear Episode 392?
  • What about long-term financial planning?
  • What are the takeaways?

Evan Greathouse, Bank On Yourself® Professional, brings over 12 years of expertise as a seasoned Real Estate Investor. Holding a Business Management degree from Abilene Christian University, Evan is deeply passionate about his work. His extensive skill set encompasses construction, renovation, sales, marketing, and team building. Evan’s philosophy embraces the mantra of doing things wholeheartedly, driven by a belief that a strong ‘why’ can conquer any ‘how.’ He advocates for embracing failure as a stepping stone to success and cherishes his role as a devoted husband and father to three wonderful children. Evan is located in Nashville, TN. Meet with Evan

Episode 401: More Proof Direct Recognition Loans are Terrible for Bank On Yourself®

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In this episode, we ask:

  • Is the policy correctly structured?
  • How about a case study?
  • Does the policy with the most cash value always win?
  • What is the difference between a direct recognition and a non-direct recognition whole life insurance policy loan?
  • What did the footnotes say?
  • What are some possible outcomes?
  • What happened to the dividends with an outstanding direct recognition loan balance?
  • What happens to the dividends with an outstanding non-direct recognition loan balance?
  • What’s the difference?
  • How much loan interest?
  • What’s the big takeaway here?
  • Why would this policy become a modified endowment contract (MEC)?
  • How about another example?
  • What happened with the dividends?
  • What about the policy loan interest?
  • What are the takeaways?
  • Why do Bank on Yourself® type whole life insurance policy loans use non-direct recognition policy loans?

Would you like to avoid direct recognition loans and loss of dividends?

Is my policy a Bank on Yourself® type whole life insurance policy?

Agent

  • Is my agent captive or independent? (Can he/she work with multiple companies or just show me one company’s product line?)
  • Is my agent trained to confidently and competently answer all of my questions? (Am I having to educate him/her?)
  • What is the agent’s training and stability? How long will the advisor be around to help me?
  • Is my agent among the ~200 Bank on Yourself® Professionals in good standing with the Bank on Yourself® organization?

Insurance Company

  • Does the company offer whole life insurance? (Do I have Whole Life or a Universal Life, Variable Life, Indexed Universal Life or Term policy?)
  • Is the insurance company mutually owned or stock owned?
  • Is the insurer’s customer service department educated enough to help me with policy loans?
  • Does this company have a high Comdex Rating and solid financial strength? Will they have the stability to be in business for the next 100 years at least?

Tax considerations

  • Will this policy become a modified endowment contract (MEC)?
  • Will both principal and gains be accessible tax-free under current law?

Riders

  • Are paid-up additions (PUAs) offered through premiums or just through dividends?
  • What is the Insurance Company’s PUA load cost? How does it compare to other whole life products?
  • What are the PUA limits (and any other gotchas)? When and why must we reduce our PUAs, even if we don’t want to?
  • Were any other riders available to help accelerate my cash value growth, like term riders?
  • If I miss a premium payment, are there protections? What will happen to the policy?
  • Is there a Chronic Illness Rider or similar available? What are the fees for this rider?
  • What are the limits on Chronic Illness, Long Term Care and Accelerated Death Benefit riders?

Dividends

  • Does the insurer who issued my whole life insurance policy pay dividends?
  • Does the whole life product I purchased receive dividends?
  • Is the dividend based on company performance, with me participating as an owner, or is it merely “interest sensitive” based on industry performance?
  • Has the insurance company paid dividends at least 100 years straight?
  • Was there significant dividend variability over the last 12 years, suggesting risk to future cash value growth?

Loans

  • If I take a loan, how will it affect the policy, short-term and long-term?
  • Do I have non-direct recognition loans or direct recognition loans?
  • When will I pay policy loan interest (at the end of year or immediately)?
  • What limits are at work for policy loans? Is there a maximum amount per loan
  • What will they allow me to borrow out at a time?
  • What is my loan interest rate on this policy? Is it above or below the industry average?
  • Is the loan simple interest or compound interest?
  • At what time interval is the loan interest being accrued (annually, daily, etc.)?
Would you like a second set of eyes to review an existing policy, or would you like to discuss your specific situation? Reach out to meet with Mark or one of Mark’s associates.

Episode 400: How to Never Run Out of Money – Even if You Live to 120!

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In this episode, we ask:

  • Would you like to join us live for the Bank on Yourself® Rescue Your Retirement Bootcamp on May 6th, 2025, 1PM-5PM ET?
  • Will you run out of money if you live to 120?
  • What are we going to do make sure your money doesn’t run out before you do?
  • What about market volatility? Do you remember 2008?
  • What replaced the pension plans?
  • What about inflation risk?
  • Is the answer investing in the market?
  • What does the economist William Sharpe say?
  • What percentage can one take out of a 401(k) without running out of money?
  • What percentage of 65 year-olds will live beyond age 90?
  • Who is underspending?
  • What about annuities?
  • What about inflation-protected payouts?
  • What is the only true form of retirement security?
  • What are endowments?
  • What is the history of the annuity?
  • What happened to Babe Ruth?
  • What about Ben Bernanke?
  • What is a fixed indexed annuity?
  • What about immediate pay annuities?
  • What about letting your money grow before turning on income in an annuity?
  • Why do so many financial infotainers bash annuities?
  • Are there quality annuities?
  • What about special benefits?
  • What about increasing income?
  • How about some case studies?
  • What about guaranteed lifetime income?

JOIN US LIVE
for the Rescue Your Retirement Bootcamp
WHO: The Top Bank on Yourself® Professionals
WHAT: An afternoon-long bootcamp
– a deep dive into the workings of Bank on Yourself® –
(lifetime access to the recording available!)
WHEN: May 6th, 2025, 1PM-5PM ET
COST: $47
WHERE: ONLINE
REGISTER NOW

 

Episode 399: How to Pay for Everything in Life

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In this episode, we ask:

  • Would you like to join us live for the Bank on Yourself® Rescue Your Retirement Bootcamp on May 6th, 2025, 1PM-5PM ET?
  • What deals are you making?
  • What does it take to start a bank?
  • Where do banks keep their capital?
  • What is Tier 1 capital?
  • Who needs a liquid, regular parking spot for savings?
  • How does the money continue to grow, even while you’re using it?
  • What about major wealth transfers?
  • What are people saying?
  • Why work with us?

 



JOIN US LIVE
for the Rescue Your Retirement Bootcamp
WHO: The Top Bank on Yourself® Professionals
WHAT: An afternoon-long bootcamp
– a deep dive into the workings of Bank on Yourself® –
(lifetime access to the recording available!)
WHEN: May 6th, 2025, 1PM-5PM ET
COST: $47
WHERE: ONLINE
REGISTER NOW

 

Episode 398: The Golden Parachute

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In this episode, we ask:

  • Are you interested in 3 ways to leverage cash value life insurance for a secure business exit?
  • Who has an exit plan?
  • What are the benefits of a golden parachute?
  • What happened in the ’80s?
  • What lowers the risks of takeovers?
  • What are some example scenarios?
  • Do you have a Bank on Yourself type whole life insurance policy in the business?
  • What about securing a legacy while also ensuring business continuity?
  • Would you like to join us at the FREE Not Your Average Financial Community at notyouraverage.mn.co?

Episode 397: Can You Bank On Yourself® with over 200 Rental Properties? with Bryan Powers and Ben Berry

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In this episode, we ask:

  • What about getting started?
  • Who is Bryan Powers?
  • Who is Ben Berry?
  • What is Bryan’s story?
  • What do they love about Bank on Yourself® type whole life insurance policies?
  • How have they used their policies so far?
  • What are some problems with borrowing money from the SBA?
  • Is it compounding?
  • Can you see a new perspective?
  • How would it feel to discover an extra million?
  • What leads to a whole lot less financial stress?
  • What about retiring early?
  • What about the ongoing relationship?
  • How about the next generation?
  • What about adjusting as life happens?
  • What about reaching financial milestones without taking unnecessary risk?
  • What about resilience?
  • Who wins? …the banks?
  • How did Menard’s emerge as a giant?
  • What are Bryan’s aspirations with his policy?
  • How is this different from a self-directed IRA?
  • Would you like to listen to Episode 209?
  • Would you like to text Ben at 563-570-2367?
  • Would you like to email Ben at bencberry@gmail.com?
  • What principle would Bryan leave for his kids?
  • What are the takeaways?
  • What is the most important thing?
  • Doesn’t it make sense to build the foundation first?

Ben Berry is a financial strategist dedicated to empowering individuals and businesses to achieve financial control and stability. Recognizing the limitations and volatility of traditional investment and retirement planning, Ben and his wife, Erica, embarked on a decade-long exploration of more ethical, rational, and reliable wealth-building methods. This pursuit led him to develop strategies focused on predictable, long-term growth, independent of market fluctuations.

As a Bank on Yourself® Professional and licensed insurance agent, Ben is the owner of Berry Financial Services in Fayetteville, Arkansas. He specializes in crafting personalized financial strategies that diverge from conventional approaches offered by stockbrokers, lawyers, and other financial advisors. His expertise encompasses a range of solutions, including strategic real estate investments, effective college funding strategies designed to minimize financial burden, and the development of secure, lifetime retirement income plans.

Ben works with clients seeking predictable wealth accumulation and financial self-sufficiency, with a particular focus on generating tax-free retirement income. He provides proven, tax-efficient financial solutions designed to help clients regain control of their financial destinies and achieve their long-term financial goals.

Bryan Powers has been an entrepreneur since 2000, owning a recording studio, a live music venue and a couple of restaurant franchises to include Lenny’s Sub Shops and McDonald’s.  In 2013, Bryan started Family Home Solutions, a Real Estate Investment Company that expanded into a Local Property Management Company, Realty Brokerage and a Real Estate Acquisitions and Dispositions company.  Powers currently shares ownership in over 200 single family rental units and AirBnb properties in 3 states as well as a 356-bed student housing apartment syndication.  In 2018, Powers co-created the Angler Aid Brand, a fishing first aid and safety company that is now widely distributed online and through Bass Pro Shops.

Since 2023, Powers is co-owner of the Mobility City franchise markets in Southwest Missouri and Arkansas.  Mobility City is a Boca Raton based franchise system that has quickly become Southwest Missouri’s Premiere Mobility Products store and has plans to open a second location in Northwest Arkansas by May of 2024.  Bryan has also served on the board of two local non-profit organizations as well as serving on the advisory council of 2 national franchise systems.

Bryan is a Husband, Father of 3, and Grandfather of 1 and loves time at the lake with family, travel, and music composition.

Episode 396: Double Bonus Strategy: Enhancing Employee Benefits With 162(a) Plans

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In this episode, we ask:

  • Would you like to meet with Mark?
  • What are the challenges for small businesses?
  • What’s wrong with a small business’s 401(k) offering?
  • What is the problem with fees?
  • What is the problem with liquidity?
  • What are the penalties?
  • What about the severe loss of control?
  • What about forced participation?
  • Why, with all of these problems, does everyone set up 401(k)s?
  • What about a financial Frankenstein?
  • Is the proof in the pudding?
  • How are we fairing?
  • What is the average 401(k) balance for a 55 year-old?
  • How might a business owner attract the best talent and offer the best benefits?
  • Why are Bank on Yourself® type whole life insurance policies superior?
  • Would you like to hear Episode 36?
  • What about tax?
  • What about eliminating restrictive rules?
  • What about going from a 401(k) to a 162(a)?
  • What are executive bonus life insurance contracts?
  • What are the administrative costs?
  • What are the additional benefits?
  • What are the considerations?
  • What are the backup options?
  • How about an example?
  • What is a double bonus?
  • What about the tax?
  • Would you like to hear Episode 206?
  • What can the employees do?
  • What about the taxation of social security benefits?
  • What if tax rates double on you on income in required minimum distributions or other qualified distribution income?
  • What are additional benefits of the 162(a)?
  • Would you like to establish a better than a 401(k) alternative that benefits your employees profoundly?
  • Would you like to meet with Mark?