Not Your Average Financial Podcast™

Episode 306: How to Turn Financial Turmoil into Your Opportunity

July 14, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to watch selected clips from us on YouTube?
What is happening with the banks and the FDIC?
What about non-bank banks?
How much uninsured assets are held in these non-bank banks?
Have you read David Graeber’s book, Debt: The First 5000 Years?
How much wealth has debt created?
Who is positioned to profit?
Who is gobbling up the little banks?
What is the exact issue?
What about fractional reserve banking?
Are we encouraged to speculate?
Who is ready to opt out of this madness?
What is the business of banking?
What is the business of life insurance companies?
How are the time horizons different?
How are the reserves on hand different?
What is the worst thing to happen to a banker?
What is the best thing to happen to an insurer?
Are you a year older?
Will you take that deal?
What are the insurers obligated to do?
Where will you park your savings?
What is contributing to the problem?
What if fractional reserve banking evaporated?
What would make the financial system more stable?
What about private lending?
What about dreaming of what the world could look like?
What could reduce stress?
What about the mortgage industry?
What would lead to more responsible lending practices?
Who needs an auto loan anyway?
What other benefits could surface?
Who is opting out?
How do Bank on Yourself® type whole life insurance policies reduce stress?
What about an example?
What about overdraft fees?
What about bridge loans?
Do you have to wait?
Can you choose to opt out?
Would you like to meet with Mark to discuss your specific situation?

Episode 305: The Reduced Paid Up Strategy

July 7, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

What is better than a five star review?
Who needs to hear this?
Would you like a FREE book? Email us at hello@nyafinancialpodcast.com!
What about the Apollo missions?
When will premiums come to an end?
Would you like to hear Episode 293?
What about the contractual obligation of the life insurance company?
What is a maturity date?
What limits exist?
What about age 121?
What about actuarial math?
What about when the cash value matches the death benefit?
How is term insurance different?
What about an example with old fashioned whole life insurance?
Should I surrender a policy?
…Do you feel lucky?
Would you rather…?
What about an example with Bank on Yourself® type whole life insurance?
What is growing?
How do PUAs change everything?
What is ever increasing…?
What are the implications?
What else in the financial universe works this way?
What about algae?
What about the explosion of a supernova?
What did Albert Einstein say?
How is guaranteed growth possible?
Would you like to listen to Episode 197?
Are you forced to pay premiums forever?
What if you can’t pay the premiums?
Would you like to hear Episode 203?
What is reduced paid up (RPU)?
How does this work?
What are the trade offs?
How do different products work?
How about an example?
What continues to grow, even after he stops paying premiums?
What happens if he is still alive at age 121?
What about funding a policy for only 10 years?
What about retiring at age 70?
What about reduce paying up at age 71?
What will happen to the policy?
What will the actuarial math do?
What happens to the cash value?
How can the cash value continue to increase after RPU?
Who can RPU? What are the rules?
What about another example?
Does this work with lump sums?
What about a lifetime of tax free access to the cash?
What happens if one reduce pays up after a policy loan gets out of hand?
What about paying down a policy loan with cash flow freed up from RPU?
What about the restrictions on universal life contracts?
When will premiums need to stop?
Can expenses ever stop?
What are some of the other considerations of RPU?
Would you like to meet with Mark?

How Does Cash Value grow on a guaranteed basis? Follow along below:

Pay One Lump Sum ($138,000)… funds it for 5 years!

Then in year 8 Reduce Pay Up and the cash value continues growing.

Of course, you might not want to fully fund this policy (as seen above for life) – instead you might follow this course of action: Fully fund the policy for 10 years then pay minimally until year 20, then reduce pay up your policy:

All guarantees are based on the claims-paying ability of the insurer. Dividends are not guaranteed.

These are not complete illustrations, but general information. They do not include the load costs or surrender charges which may or may not be included in the images above. All guarantees are based on the claims-paying ability of the insurer. Dividends are not guaranteed.

Please review a full contract and illustration for details when considering this for your situation.

Episode 304: The Deferred Sales Trust 2.0 with Brett Swarts

June 30, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

Who needs to hear about this?
Would you like to watch select clips on YouTube?
What about tax strategies?
What about deferring tax?
Is it always a good or bad idea?
What is the deferred sales trust or DST?
How does the DST 2.0 take things a step further?
How does the DST 2.0 work?
What about your team?
Are taxes going up in the future?
Who is Brett Swarts?
Would you like to hear Episode 181?
What is Brett passionate about?
What is a 1031 exchange?
What is happening in California?
What about a case study?
What is the problem?
What about freedom?
What would 1031 work for?
What about changes in the law?
How does a Deferred Sales Trust help?
What about Deferred Sales Trust 1.0?
What can you buy?
What about the Deferred Sales Trust 2.0?
What about a case study?
What is the estate tax exemption?
Do you want it into or out of the taxable estate?
What about inheritance?
Who has an estate tax problem?
What are the requirements?
Where will taxes take us?
What do you need?
What do you want?
How long will it take?
What about diversifying?
What happens in youth?
What happens after building up some assets?
What happens in passive income?
What happens later in life?
Who is on your dream team?
Is there a one-size fits all solution?
How can we become a force?
What happened in 2008?
What about study and practice?
What about nuance and rules?
What about mindset?
What about swap until you drop?
When are we most likely to need access to cash?
When are real estate prices likely at their lowest?
When are banks least likely to lend?
How many income streams do you keep?
What are the traps of the 1031?
What about flexibility?
What about the current wealth transfer?
Would you like to read Brett’s book, Building a Capital Gains Tax Exit Plan?
Would you like to visit capitalgainstaxsolutions.com?
Do you always want to pay more?
What happened to wealth between 2008 and 2011?
What about the opportunity to transfer assets and exit assets in ways that make sense to you?

The topics presented in this podcast are general information only and not for the purposes of providing legal, accounting or investment advice. On such matters, please consult a professional who knows your specific situation.

Brett Swarts is considered one of the most well-rounded Capital Gains Tax Deferral Experts and informative speakers in the U.S. He is the Founder of Capital Gains Tax Solutions, is an exclusive Deferred Sales Trust Trustee, host of the Capital Gains Tax Solutions podcast and an eXp Commercial Multifamily Broker in Sacramento, CA and Saint Augustine, FL.

Episode 303: Expert Panel on Bank on Yourself® Client Stories

June 23, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

What is even better than a five star review?
Who needs to hear this?
What book does Stephen recommend?
What did Stephen’s clients learn?
What did Dan’s client do with his cash value?
What were Mark’s clients able do with their modest policies?
What did Grant’s business owner client do?
Who wants to have control of their money?
Why would a business owner choose to do a Bank on Yourself® account strategy for their employees?
What about emergencies?
What happens with 401(k)s when losing an employee?
What about taxable accounts?
What about tax free money?
What about giving the family something more valuable?
What are the benefits?
Do employees love it?
What happened with John’s business owner client?
What about the challenge to get the funding for business expenses?
What’s the update with this client’s retirement?
Who wants more policies?
What is so powerful to understand about WHOLE LIFE insurance?
What do you need today? tomorrow?
Would you like to hear Episode 86 and Episode 87?
What did Amanda do?
Who pays tax via policy loans?
What about self escrow?
How much did Amanda’s client save in fees while doing self escrow with policy loans?
What seeds did Sarry’s client plant for the future?
What about Mark’s client’s family example?
What about thinking outside of the box?
Where is it written that you have to put all of your chips on red or black to meet your financial goals?
What are the takeaways?
Would you like to connect on the FREE Not Your Average Financial Community at notyouraverage.mn.co?

This episode features a round table of
select Bank On Yourself® Professionals, including:
John Ensley (Puget Sound, WA),
Sarry Ibrahim (Chicago, IL),
Dan Morris (Daytona Beach, FL),
Amanda Neely (Cincinnati, OH),
Brandon Neely (Cincinnati, OH),
Stephen Step (Los Angeles, CA)
and Grant Thompson (Amarillo, TX).

Episode 302: [Client Spotlight] The Upton Sinclair Paradox with Nick Poppe

June 16, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

Who needs to hear this?
What would you do?
Who is Nick Poppe?
What about the 4% rule?
What about guarantees?
What’s Nick’s first memory with money?
What happened in April 2020?
How did Nick learn about the concept?
What’s wrong with traditional financial planning?
Who has a firm foundation?
What about income in retirement?
What about knowing how much you have in retirement?
What about the power of guarantees?
What about commissions?
What about efficiency?
What about the messages?
Is Bank on Yourself® a scam?
What about taking unnecessary risk and stress?
What about the fees?
Would you like to hear Episode 36?
What about Nick and Brooke’s policies?
When is the best time to get started?
How many policies do they own?
How have they used the cash values?
What does Nick track on his spreadsheet?
What about the progress?
How fast did Nick and Brooke become “net worth positive”?
How is non-direct recognition, dividend paying whole life insurance an “and asset”?
What about compound growth?
What about having more options?
Would Sallie Mae help in an emergency?
What about student loan debt?
What about going in one direction?
What about peace of mind?
Which should we do first: pay off debt or save?
What is so easy?
What happens if something comes up?
What advice does Nick have?
What about looking with an unbiased mind?
Who has been taught this in school?
Who reads about this in the Wall Street Journal?
Who benefits from stocks, bonds and mutual funds?
Who wants the best for you?
Where is the financial incentive involved?
Is your money someone else’s annuity?
What is the advice you’re getting?
How do we live within our means?
What books does Nick recommend?
Would you like to read Do the Impossible by Jason Drees?
Would you like to read The Power of One More by Ed Mylett?
What about mindset?
Would you like to connect with Nick on the FREE Not Your Average Financial Community?
What are the takeaways?
What can your first job teach you?
What about salary?
What about 401(k) as a foundation?
How is your financial professional being paid? Is it front loaded? Is it fees for AUM?
How much more will you spend on fees?
Have you seen the Wolf of Wall Street?
What about tracking progress?
What about setting a goal?
What about focusing on the gain?

Both originally from South Dakota, Nick Poppe and his wife, Brooke, have been in Northwest Arkansas for the past 2 years with their 2 dogs. Brooke is an Occupational Therapist and Nick works fully remotely in the financial industry. After several years in banking and financial planning and knowing the ‘average’ financial strategies weren’t working, Nick discovered the Bank on Yourself® strategy and has implemented this Not Your Average financial strategy for the past 3 years and has experienced the peace of mind, ease, and guarantees that this strategy provides.

Episode 301: [Money Talks] Knowing When to Call a Financial Advisor

June 9, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

What is one of the most satisfying parts of my work?
When is a good time to call?
What about a story?
Are bankers gonna bank?
Are collectors gonna collect?
When is it crucial to get a second set of eyes and ears?
What about dramatically improving your financial situation?
When should you call me?
What about the unexpected times?
Are you going into debt of any kind?
Are you in the midst of a job change?
Are you retiring or considering retirement?
Did you receive or are you about to receive an inheritance?
Have interest rates changed in a substantial way?
Has the stock market changed in a substantial way?
Do you pay tax on your social security?
Do you pay the alternative minimum tax?
Did you get married?
Did you get divorced?
Did you have a child?
Did you have another child?
Did you take on an aging parent?
Did you buy a home or are you considering buying a home?
Did you start a business?
Are you in the midst of a catastrophic illness, such as a heart attack, stroke or cancer?
Did you win the lottery?
What other reasons can you think up to call us?
Would you like to call our office at 1-800-962-9141?
Would you like to book with Mark?
What did Jim Rohn say?
What about rock, paper, scissors?
How are we predictable?
How might we need to adapt?
What about an example?
How might we fix this?
Who taught you that?
How’s that going for you?
Might it make sense to ask for help?
How might we discover opportunities in the midst of obstacles?
What are the traps?
What did Dwight D. Eisenhower say?
What are the dynamics?
What did Napoleon Bonaparte say? What happened in 1805?
How might you be resilient?
What did Russ Alan Prince say?
How many actually implement the plan?
What does this mean?
Who struggles to follow through?
What about the importance of ongoing communication?
What about a giant binder?
What about a relationship?
What about planning?
What is your specific concern?
What about goal setting?
What about taking targeted action?
What about a broad overview?
What about just in case vs. just in time planning?
Are you collecting pebbles?
Are you ready to take the pebbles out of your pocket?
Would you like to make an impact?
Where do monkeys outperform market managers?
What about a divorce case study?
Would you like to book with Mark?

Episode 300: How to Stay Motivated and Get Wealthy

June 2, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

What is better than a five star review? Who needs to hear this?
Do you know how grateful we are for you?
How might we stay motivated to get wealthy?
How long will we live?
How will today turn out?
What about the curve balls?
What about transcendent spiritual experience?
What about living by the day and measuring by the decade?
What defines your life?
What about the gain?
Where are you now?
What are some ways to stay motivated?
What about adding a zero to your goals?
Who is your mentor?
Who are you mentoring?
How might you starve your fear?
Are you the news?
What are your wins?
Are you reading “just in time” books?
What about SMARTER goals?
What about fitness and play?
What is none of your business?
What are you NOT watching?
What did Judd Brewer say?
What is distraction?
What about habit loops?
What about your mind? What about your brain?
How might one unhook from negative habits?
What about considering the little bean plant?
What about adding a trellis?
What about rhythms and relationships?
What is a spiritual budget?
What are the three ultimate currencies?
What are you paying attention to?
What are the two meanings of appreciation?
How will I prioritize my finite resource?
How am I going to spend what I have?
Are attention deficits causing financial deficits?
What about budgeting attention?
What about budgeting money?
What about budgeting time?
What about budgeting energy?
What about regular patterns of activity?
Who will I look like in the future?
What is just the right amount of structure?
What are you doing in the morning, in the middle of the day, in the evening?
What might you trade?
Are you trading for assets or liabilities?
When will you see your net worth grow?
How are health and wealth related?
What did Rabbi Lapin say?
What is the infinite game?
What did Gloria Steinem say?
What does the future look like?
What does retirement mean?
What happens when we come face-to-face with death?
What did Jamie Hopkins say about rewirement?
What about building a framework?
What might you lean on?
What about bank on yourself type whole life insurance and annuities?
What about directions?
What about building something solid?
Would you like to meet with Mark?

Episode 299: Why the FDIC is NOT Your Superhero

May 26, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

What’s that up in the sky?
Can the FDIC keep your money safe?
Who relies on this great institution?
Who can rest easy?
Wait?!
Who is breaking a sweat?
What would happen in a sudden wave of bank failures or sudden financial crisis?
What about times of financial stress?
How might this pose a BIG risk?
What about exposure?
What about protecting depositor funds?
Is this superhero up to the challenge of the current economic climate?
What is the Federal Deposit Insurance Corporation (FDIC)?
What happened earlier this year?
Where did the money come from?
Who funds the FDIC?
What happens to the yield?
Who is the US Treasury?
How many banks are in a precarious position now?
Is there any end in sight?
What has happened as interest rates have risen?
What about fractional reserve banking?
What about a credit crunch?
What about regional banks?
How many funds will be protected?
Where are people moving money?
Where will the government get the money to guarantee deposits?
What if you only got 1% of your money back in the event of a collapse?
What about the bank lobby?
What is book value?
What is market value?
What is fractionalized methodology?
How are bank reserve regulations different from insurance reserve regulations?
How are insurance companies regulated?
What does NAIC say about reserves?
Why do insurance companies need much larger reserves?
Do insurance companies have an enormous edge over banks?
Would the government step in and cover your deposits?
Who decides?
Who is systemically important?
What about lending?
What did Mark Twain say?
Is it raining?
What can we do about this?
What is within our control?
Who is your superhero?
What happens with policy loans when banks are in crisis?
Who wants to become their own source of financing?
What are the takeaways?

Episode 298: College Knowledge with Dave Kozak and Joe Kerins

May 19, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

Who needs to hear this?
Would you like a free book?
Who is going to college?
Who is Dave Kozak?
Who is Joe Kerins?
What are some strategies beyond college planning?
What about strategic planning and critical thinking skills?
How does one plan for the non-college path?
What matters to financial success?
What does life insurance have to do with college planning?
Why do non-direct recognition life insurance loans matter?
What’s wrong with 529 plans?
What do we need to know now?
What is new in the college planning ecosystem?
Is college the next step?
Would core business education and learning hurt?
Are you beginning with the end in mind?
What is the best for our kids?
Who enjoys work?
Do your kids need to go to college?
What is Joe’s story?
What is the largest expense most families face?
How do college funding mistakes affect retirement?
What is the FAFSA?
…What don’t we know?
What’s the problem with traditional college financial planning?
What is the reality of the 529?
Are you saving college or are you investing for college?
What counts against you as you pay for college?
How do investments raise your college cost?
How does one win at this game?
How does financial aid work?
Do only poor people get a financial aid?
How does one build to their advantage?
What is financial aid?
Who needs to buy life insurance?
Who needs to fund an education?
Is it accessible?
How much are we going to spend?
Where is the money?
What are the secrets?
Why does a life insurance policy need to be non-direct recognition, for this to work?
Who understands policy design?
Why do IULs (indexed universal life insurance policies) fail?
What about compound growth?
Do you have to sacrifice your future retirement?
When do we earn our highest income?
Where will your money live?
What about an example?
What’s the difference?
Why does it matter?
How does one lower the cost of college?
How do Dave and Joe help on the front end of college planning?
What is the advantage of merit based dollars?
What if it wasn’t the school that made the career?
What about the social, academic and financial fit?
What about a regional school?
What about a case study?
Who is falling in love with a school?
Is the school truly a fit?
What is the cost?
Will schools compete for students?
How much does the school truly love this student?
Would you like to hear the College Knowledge podcast?
Would you like to learn more at elitecollegiateplanning.com?
What are the takeaways?
What about 529 plans and the Secure Act 2.0?
What are the classic mistakes parents make?
What about properly designed non-direct recognition life insurance policies?
How is this a double benefit?
Are you keeping your wealth in the family?

David A. Kozak is the founder and CEO of Elite Collegiate Planning and CEO of the College Planning Network. He has, in his own words, “the distinct honor” to work with families across the country to redefine what “investment” means to them. He believes—to quote Benjamin Franklin—“An investment in knowledge always pays the best dividends.” This drives his passion for educating families about how to send their children to college without jeopardizing their own financial goals and retirement. Dave created the College Knowledge podcast to let college insiders share their own expertise, experience and perspective to help inform college-bound families.

Joseph L. Kerins III, CCPS® is a Certified College Planning Specialist, Financial Planner, and Senior Planner at Paradigm Financial Group. Helping families pay for college without destroying their overall wealth and retirement is Joe’s focus. Many families don’t realize that it is not just a college problem, but a wealth and retirement problem. Joe works with these families to create unique plans with proper strategies to save and pay for college without sacrificing financial freedom and achieving all of their financial goals. Joe lives in Wayne, Pennsylvania with his wife, Mollie, and three children, Joey, Ellie and Eddie. Joe is a fourth-generation member of the South Philadelphia String Band, which participates annually in the Mummers Parade in Philadelphia.

Episode 297: What It’s Like to Give Out 500 Death Benefits with Andrew Young

May 12, 2023 by Not Your Average Financial Podcast

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In this episode, we ask:

What is even better than a five-star review on this podcast?
Who do you know who needs to hear this?
Would you like a FREE book? Email us at hello@nyafinancialpodcast.com
What about the mourning and sadness?
What about best practices for leaving an inheritance?
Who is Andrew Young?
Why should you keep your beneficiaries up-to-date?
What about the deceased’s wishes?
What happened when Andrew’s dad died?
What happens when families do the wrong thing?
Should we tell our beneficiaries that they are getting money?
What does Andrew recommend?
What about adult children?
What about an annual meeting?
What about reviewing the beneficiaries annually?
What about an example?
Why is it so important to work with an advisor?
What could have happened if…?
How did Andrew’s client dodge a massive mistake?
Which is smaller, the cash value or the death benefit?
What about covering nursing care?
What about a story?
What is the very nature of life insurance?
What about dementia?
What is the advantage of very mature policies?
How fast did the family receive the death benefit upon his death?
What is the typical rough timeline for death benefit payments?
How were the generations changed?
What about another story?
What about getting everything in place?
How did Andrew become an honorable member of the family?
What can we do to receive well?
What can we do to give well?
Do you have a place for your usernames and passwords?
Are the survivors able to access your accounts, documents and other details?
What about the medical directive?
What about a patient advocate?
What about getting legal documents set up?
Does everybody have a will?
How might we set our family up to succeed?
What about a poem?
Aren’t you thankful for Andrew?

Andrew Young is the Director of Recruiting for Bank On Yourself®. For over 25 years, Andrew has worked with individuals and business owners on retirement planning, succession planning, and estate preservation. He has been married to his wife Maureen for over 35 years, and they have two children. In Andrew’s spare time, he and his wife love to sail.

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