Wealth Talks: Recent Episodes
Dr. Tom McFie
Wealth Talks podcast is an educational podcast that helps you build Wealth in all areas of your life. Increase your Financial IQ, develop personal growth, and create a lasting legacy all while getting exposed to the strategies that successful people are using. You’ll get actionable strategies and intelligence that you can immediately put to use to start creating real and lasting generational wealth. See more on our website: https://www.life-benefits.com/podcasts
This episode is about how our clients have used Infinite Banking.
Infinite Banking as the name suggest can be used for and infinite number of things. Some of the success stories our clients have used infinite banking for are encouraging, inspiring and just fun. Listen and get inspired and learn how you can better implement infinite banking to create a better financial future.
In this episode:
- How our client used infinite banking to start a health food store
- How our client uses infinite banking to finance the floor plan at his car dealership How infinite banking can be used to finance a house in place of a traditional mortgage
- How one of our clients surprised their children with a downpayment
Please let us know in the comments or by emailing us at: producer@wealthtalks.com if you would enjoy following along for a tour of how David uses Infinite Banking to run his car dealership
Infinite Banking vs Mortgage Video: https://www.youtube.com/watch?v=ge5HLcZybNU
📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
Investing in Infinite Banking vs investing with Infinite Banking. What's the difference?
Today we're talking about how you can use Infinite Banking with investments to grow your money even faster.
A policy loan can be used for many different things, including investing. This can be investing in the stock market, investments in real-estate, business funding, financing your taxes, etc.
Here is a real life example:
Ben shares how he uses Infinite Banking to invest in his equipment business when he has the opportunity to buy a tractor or piece of equipment that can make him money. He shares how buying and selling equipment using Infinite Banking allows him to have quick access to his cash values, using them like a line of credit while they continue earning a great internal rate of return.
Here is a video on How Indexed Universal Life Insurance Works: https://www.youtube.com/watch?v=SQwepIbcq38
📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
Did you know you can use Infinite Banking to save money on your taxes?
There are multiple tax benefits to using Infinite Banking, and in this episode, you'll learn a few smart tax strategies to save money on taxes by using Infinite Banking.
With the infinite banking concept and Participating Whole Life Insurance, you get tax deferred growth on your money and get tax free access to this growth! BIG WIN!
Don't overpay. Listen and start saving!
📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
In this episode, you'll learn how to use Infinite Banking even better by learning from the stories of other people.
In this episode, learn about how people use Infinite banking to:
- · Build a family banking system
- · Build a health food store
- · Develop software
- · Build a new business
- · Purchase business equipment
- · Loan money to a friend
- · Pay for private school
- · Finance their tax bill
- · And MORE!
Using Infinite Banking is an exercise in imagination. By hearing what other people are doing with infinite banking you can learn and implement the creativity that is working for others into your own life and boost your finances.
Retirement Income using Infinite Banking | Episode 578: https://www.youtube.com/watch?v=9STyuxsoWn4
Real Estate Investing with Dr Steve| Episode 543: https://www.youtube.com/watch?v=_r552FyHfc0
Infinite Banking and Real Estate | Episode 544: https://www.youtube.com/watch?v=aFqxeENXIiY
Answers to questions about Infinite Banking such as:
• How much money do I need to start Infinite Banking? • Should I pay off debt before starting Infinite Banking? • Does cycling money in and out of my policy grow it faster? • How to stop paying premiums on your Infinite Banking policy. • What is an RPU?
Listen and get answers to all these questions and more in this episode of Wealth Talks podcast.
Infinite Banking can help you level up your financial game and build wealth faster, but there is a lot to understand and sort through to understand what is Infinite Banking?
In this episode we answer questions about Infinite Banking, and discuss how you can level up your financial game and build wealth by doing what successful people do. Both strategy and philosophy.
Some of the questions in this episode are:
How is infinite banking different than regular banking?
Why use whole life insurance? Why not term, why not indexed universal life insurance?
How much do I need to do infinite banking? How much can I start with?
Is Infinite Banking only for rich people?
Can you earn a higher rate of return than with infinite banking?
📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
Contact info: Producer@wealthtalkspodcast.com
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Listen to the Wealth Talks Podcast on:
YouTube: https://www.youtube.com/@wealth-talks-podcast
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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Infinite Banking can help you level up your financial game and build wealth faster, but there is a lot to understand and sort through to understand what is Infinite Banking?
In this episode we answer questions about Infinite Banking, and discuss how you can level up your financial game and build wealth by doing what successful people do. Both strategy and philosophy.
Some of the questions in this episode are:
How is infinite banking different than regular banking?
Why use whole life insurance? Why not term, why not indexed universal life insurance?
How much do I need to do infinite banking? How much can I start with?
Is Infinite Banking only for rich people?
Can you earn a higher rate of return than with infinite banking?
📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
Contact info: Producer@wealthtalkspodcast.com
Follow the Wealth Talks Podcast on:
Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA==
Facebook: https://www.facebook.com/profile.php?id=61554798231074
Listen to the Wealth Talks Podcast on:
YouTube: https://www.youtube.com/@wealth-talks-podcast
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
In this episode we go over some of the problems with Infinite Banking.
Some of these problems are with the Infinite Banking Concept directly. Some are false teachings/marketing about the infinite banking concept. Other problems we address in this episode are personal problems that must be taken care in order to have success with practicing the Infinite Banking Concept.
Watch Steven's video on IUL here: https://www.youtube.com/watch?v=cDrQ7OIYKQE&t=1019s
This episode is about how to use Infinite Banking as part of your retirement strategy.
Infinite Banking is a financial tool that gives you a competitive edge in everything you do. Using The Infinite Banking Concept as part of your retirement planning gives you the flexibility of a very liquid asset that you can use for increasing your retirement income.
Listen and learn about how you can use Infinite Banking to make your retirement even better.
This episode is about how to finance purchases with Infinite Banking. Using Infinite Banking like your own private bank provides you with flexibility, freedom and greater financial gain than using other financing methods.
With interest rates no longer at record lows, Infinite Banking makes sense for many purchases that you finance all the time.
When you listen to this episode you will realize the benefits of using Infinite Banking with a Whole Life Insurance Policy over just saving up and paying cash. Dave Ramsey teaches to pay cash and this can be good. Infinite Banking goes a step further and lets you earn interest on your money while also making a purchase.
A good financial strategy is important in order to get ahead in todays financial world. Infinite Banking gives you the edge.
📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
Contact info: Producer@wealthtalkspodcast.com
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Listen to the Wealth Talks Podcast on:
YouTube: https://www.youtube.com/@wealth-talks-podcast
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
In this podcast episode, we're going to discuss how to use the Infinite Banking Concept efficiently.
As IBC practitioners, John and Ben share some of the things they have learned first hand by using Infinite Banking.
Ben shares how he overextended when he first started purchasing whole life insurance policies for infinite banking. He explains what he did to fix this, and how he is using Infinite Banking now.
Learning these does and don'ts from an Infinite Banking Practitioner is extremely valuable and will help make you more successful with practicing Infinite Banking.
📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
Contact info: Producer@wealthtalkspodcast.com
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Listen to the Wealth Talks Podcast on:
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Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
In today's economy, your need for financing is greater than your need for a rate of return.
Recovering the interest you would normally pay to a bank for financing something is what Infinite Banking is all about.
Getting started with the Infinite Banking Concept requires discipline. Infinite Banking is a longterm financial strategy and not something that is built overnight. Infinite Banking uses Participating Whole Life Insurance as part of the strategy to build a financing system where you can access capital to finance whatever you need, while your money is still earning a return.
Infinite Banking is an excellent tool, and it makes everything you do financially, better.
But you will never get any of the benefits of Infinite Banking unless you actually get started.
In this episode you will learn everything you need to know to get started with Infinite Banking.
Contact info: Producer@wealthtalkspodcast.com
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This is the story of how Nelson Nash discovered the Infinite Banking Concept, as written about in in his book Becoming Your Own Banker - unlocking the infinite banking concept.
Nelson Nash wrote the book Becoming Your Own Banker and did seminars around the country teaching and sharing the Infinite Banking Concept.
Since learning about Nelson Nash and Infinite Banking in 2005, we have been practicing and teaching The Infinite Banking Concept. We started McFie Insurance in 2007 to be able to sale life insurance specifically designed for Infinite Banking.
Infinite Banking has made a huge difference in our life and is the reason we are still sharing it with others today.
The Infinite Banking Concept is the key factor that lets you get ahead and level up financially.
Watch this episode on YouTube here: How Infinite Banking Got Started – YouTube
John, Ben and Steven McFie were home educated and are self-elected college opt-outs. All three of them are business owners and do not regret skipping a college degree.
College can be a smart or a foolish decision depending on the circumstances.
This episode is not meant to discourage or encourage a college education, but is rather about learning your options and gaining perspective so you can make a smart decision with your resources of time and money. Listen and hear stories, examples and their personal opinions on college education and schooling.
These are the 5 Human factors from the book Becoming Your Own Banker (The Infinite Banking Concept) written by R Nelson Nash
- Parkinsons Law
- Willie Suttons Law
- The Golden Rule
- The Arrival Syndrome
- Use it or lose it
In the book Becoming Your Own Banker, Nelson Nash writes, "If you control these 5 factors, you can be successful at Infinite Banking. And if you are successful with infinite banking it will put you miles ahead of your peers in the financial world."
It is important to master these 5 human factors. In this podcast episode we go over each of these 5 factors and discuss them in detail.
If you are learning more about Becoming Your Own Banker, this is a great place to start. Learn all about Becoming Your Own Banker and the infinite banking concept on audio with this podcast.
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Indexed universal life insurance, commonly called by it's acronym IUL, is one of the most complex types of life insurance, and its complexity often makes it difficult to understand.
In this episode we break Indexed Universal Life Insurance down into simple plain english, making it easy to understand.
You'll learn the history of IUL, what it its, how it works and if its right for you.
Download Binder on Understanding IUL Here: https://pages.mcfieinsurance.com/iul-made-simple/
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Vacation has a way of bringing you a new perspective on life. A change of scenery, new experiences, a different schedule and different culture. We went on vacation, and have some aha moments from our trip to share with you.
Traveling from Indiana down through Kentucky, Tennessee, Georgia, and Alabama, we went vacation at Gulf Shores Beach on the Gulf of America.
We visited Buc-ees for the first time and learned about how much brisket they go through per day! We fished in the Gulf of America Shell finding on the beach and A detour on the way home to buy a piece of machinery
Hear about all this and more in this weeks episode of Wealth Talks Podcast.
Some people see forced savings as a negative limiting rule they are bound to, while for some it provides guidelines to help them thrive.
Is forced savings a good thing for you? Does it limit you? Let us know how you feel about it.
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Learn about Whole Life Insurance and how it works, the pros and cons of whole life insurance, how you can use whole life insurance cash value and loans.
Also in this episode learn more about Indexed Universal Life Insurance.
- Is IUL really a permanent life insurance policy?
- Does universal life insurance work well?
- Does term life insurance have a benefit if you're single or already have life insurance coverage?
Most people think life insurance is about what happens when you die. Participating whole life insurance is a financial asset you build equity in while you're alive, and can use as a financial tool.
Here is a comprehensive downloadable detailing all about Whole Life Insurance, and how Participating Whole Life Insurance Works: https://pages.mcfieinsurance.com/whole-life-insurance-made-simple/
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Explore and learn the key points from the book Rich Dad Poor Dad written by Robert Kiyosaki.
Build a system of assets instead of liabilities. Learn to think like the rich instead of like the poor and middle class.
Dr. Steve Hryszczuck read Rich Dad Poor Dad and implemented some of the principles of the book into his life. The results yielded a system of assets providing a cashflow return. We sat down with Dr. Steve and he shares and explains what he has done, and how it is working for him in these two episodes here:
Real Estate Investing with Dr. Steve Hryszczuk: https://youtu.be/_r552FyHfc0
Infinite Banking and Real Estate with Dr. Steve Hryszczuk: https://youtu.be/aFqxeENXIiY
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On wealth talks podcast we break down Nelson Nash's revolutionary Infinite Banking Concept step by step. Learn exactly how to start infinite banking, including: - Choosing the right dividend-paying whole life policy and adding powerful riders - Properly overfunding your policy to maximize early cash value growth (without triggering MEC rules) - Borrowing against your cash value tax-free while your money continues compounding - Repaying yourself on your terms to recapture interest banks normally keep - Real-world examples, common mistakes to avoid, and tips for building generational wealth Discover how to start infinite banking and take control of your finances with the Infinite Banking Concept (IBC) — the proven strategy to become your own banker using dividend-paying whole life insurance. Whether you're new to the Infinite Banking Concept or looking to optimize your existing setup, we explain the fundamentals in plain English — no hype. Hear from verified IBC practitioners, policyholders who've implemented the strategy successfully, and experts who reveal how the wealthy use privatized banking to finance cars, homes, investments, and businesses without traditional lenders. If you're searching for how to start infinite banking, tired of losing interest to banks, or ready to build a personal banking system that grows wealth safely and predictably, subscribe now and start your journey to financial independence. New episodes drop weekly.
Listen on Apple Podcasts, Spotify, or your favorite platform — and take the first step toward becoming your own banker today!
#InfiniteBanking #BecomeYourOwnBanker #WholeLifeInsurance #FinancialFreedom #CashValueLifeInsurance
Follow the Wealth Talks Podcast on: Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA==
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Listen to the Wealth Talks Podcast on:
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
On todays episode 566, we break down how to fund dividend-paying whole life insurance used with the Infinite Banking Concept, including: - Paying your policy premium - How to stop paying a premium on a whole life policy - Retirement with a policy designed for Infinite Banking - Riders and Premiums on dividend-paying whole life insurance
Get The Show Notes Here: https://mcfieinsurance.com/podcasts/funding-whole-life-insurance-for-infinite-banking/
On wealth talks podcast we break down Nelson Nash's revolutionary Infinite Banking Concept step by step. Learn exactly how to start infinite banking, including: - Choosing the right dividend-paying whole life policy and adding powerful riders - Properly overfunding your policy to maximize early cash value growth (without triggering MEC rules) - Borrowing against your cash value tax-free while your money continues compounding - Repaying yourself on your terms to recapture interest banks normally keep - Real-world examples, common mistakes to avoid, and tips for building generational wealth
Discover how to start infinite banking and take control of your finances with the Infinite Banking Concept (IBC) — the proven strategy to become your own banker using dividend-paying whole life insurance.
Whether you're new to the Infinite Banking Concept or looking to optimize your existing setup, we explain the fundamentals in plain English — no hype. Hear from verified IBC practitioners, policyholders who've implemented the strategy successfully, and experts who reveal how the wealthy use privatized banking to finance cars, homes, investments, and businesses without traditional lenders.
If you're searching for how to start infinite banking, tired of losing interest to banks, or ready to build a personal banking system that grows wealth safely and predictably, subscribe now and start your journey to financial independence.
New episodes drop weekly. Listen on Apple Podcasts, Spotify, or your favorite platform — and take the first step toward becoming your own banker today! #InfiniteBanking #BecomeYourOwnBanker #WholeLifeInsurance #FinancialFreedom #CashValueLifeInsurance
Buying Term Life insurance rather than Whole Life insurance and then investing the difference of premium payments, became popularized financial advice in the 1970s and 1980s by AL Williams. Now today, 50 years later, this advice is still the cornerstone principal for many financial advisors including Dave Ramsey.
Is Buy Term and Invest the difference the best option now? Whole Life insurance policies available today are different than 50 years ago, the market is always changing, is it time to revisit buying term and investing the difference?
In this episode we compare buying term and investing the difference, vs buying high cash value designed whole life insurance. The results are pretty interesting. Listen and find out the details.
📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
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Listen to the Wealth Talks Podcast on:
YouTube: https://www.youtube.com/@wealth-talks-podcast
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
Are you often late? ... It could mean you're an optimist type personality. Ben explains in this episode and Steven self convicts.
Wealth is often used in reference to monetary value or quantity. Many people never consider the wealth that is beyond money.
Relationships, Memories, Health, Family, Friends, Opportunities etc.
Wealth is a comprehensive expression. Today on Wealth Talks Podcast, we talk about some of these other types of wealth. This episode takes a bit of a turn.
Link to Jesse's video on buying his house: https://www.youtube.com/watch?v=ge5HLcZybNU
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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Buying Term Life insurance rather than Whole Life insurance and then investing the difference of premium payments, became popularized financial advice in the 1970s and 1980s by AL Williams. Now today, 50 years later, this advice is still the cornerstone principal for many financial advisors including Dave Ramsey.
Is Buy Term and Invest the difference the best option now? Whole Life insurance policies available today are different than 50 years ago, the market is always changing, is it time to revisit buying term and investing the difference?
In this episode we compare buying term and investing the difference, vs buying high cash value designed whole life insurance. The results are pretty interesting. Listen and find out the details.
Get The Show Notes Here: https://mcfieinsurance.com/podcasts/buy-term-and-invest-the-difference-vs-whole-life/
📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
Follow the Wealth Talks Podcast on:
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Listen to the Wealth Talks Podcast on:
YouTube: https://www.youtube.com/@wealth-talks-podcast
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
A good life insurance policy can become a Modified Endowment Contract when it fails the 7 pay test. What does that mean in plain terms? We explain in this episode.
Learn what a MEC is (modified endowment contract) What if my Infinite Banking Policy becomes a MEC? Is a MEC bad? Can a MEC be good? How to avoid a MEC Why did the rules for life insurance change in 1988? What is the 7 pay test for life insurance? Learn the history of the MEC laws passing congress Podcast
Episode 560: https://www.youtube.com/watch?v=y7JoQ5OA92U
📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
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Converting term insurance into a permanent life insurance policy can allow you to recover the cost of your insurance in a matter of a few years, insure that your premium will never increase, your death benefit will never expire, and in addition to this, build cash value equity in your policy that will continue to accumulate and grow tax free. (listen to understand more about this)
One of the best kept secrets about Life Insurance is convertible term insurance. Convertible term insurance allows you to take advantage of the low premiums of term insurance and lock in your insurability, and then down the road convert the term insurance into permanent life insurance that builds equity.... all without having to re-qualify for insurance.
We use convertible term life insurance and recommend it to our clients. 99% of term life insurance never pays a benefit. This is because term insurance becomes cost prohibitive with premiums as age of the insured increases.
We specialize in designing and selling Convertible Term Life Insurance, and Participating Whole Life Insurance for maximizing cash value and growth.
Email: team@McFieInsurance.com
Call: 317-912-1000
Link to Dave Ramsey vs Infinite Banking binder: https://pages.mcfieinsurance.com/dave-ramsey-v-infinite-banking/?utm_source=youtube&utm_medium=link&utm_campaign=podcast&utm_content=557
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Listen to the Wealth Talks Podcast on:
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Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
If you have questions about Infinite Banking or Whole Life Insurance, this is the perfect episode for you. We go through a bunch of specific questions on Infinite Banking, Whole Life Insurance, Financial Strategies and the like; answering the questions in lots of detail.
Resources for this episode are here:
Gracine's video on single premium policies: https://www.youtube.com/watch?v=POTBDjFA6yE&t=1s
Tom's video on 2 ways to pay property taxes: https://www.youtube.com/watch?v=1lPmv8TPWEI
📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
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Listen to the Wealth Talks Podcast on:
YouTube: https://www.youtube.com/@wealth-talks-podcast
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
What is the most important factor in retirement planning? The philosophy and the financial habits you create.
John does financial planning for clients. Today he shares details about how he goes about creating a successful financial plan.
- What is his goal when he advises his clients?
- How does he make projections for his clients?
- How do you make calculations based on future assumptions?
- Whats the best way to save for education?
- How do you plan for retirement?
- How much money is enough? Can you calculate that number?
An important message on retirement is found in a parable of the Bible. A rich farmer who had an abundance of grain, decided to tare down his barns and build bigger ones to store up all his wealth. God rebuked this man for his actions and said to him, "You fool! This very night your soul is required of you; and now who will own all the things you have prepared?" Luke 12:20
The take away from this is, there is a problem with greed and just storing up money for your own wants desires and needs and neglecting some of the more important things, like what happens to your soul when you die, or caring for the needs of those around you.
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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On this episode we are discussing an article written by the White Coat Investor on Infinite Banking. The article is called 7 truths on Infinite Banking / Bank On Yourself.
In this episode:
- Who is The White Coat Investor?
- Are the 7 "truths" of this article accurate? ... We discuss each of them today.
- Is The White Coat Investor consistent?
- Clarity on some confusion around infinite banking and whole life insurance
- Direct vs Non Direct recognition.
- What is an Infinite Banking Policy?
Link to Tom McFie's article on the White Coat Investor: https://mcfieinsurance.com/white-coat-investor/?utm_source=YouTube&utm_medium=link&utm_campaign=podcast&utm_content=558
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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Dave Ramsey has 7 recommendations:
- Start a $1000 emergency fund
- Implement a debt snowball strategy
- Have 3-6 months of expenses worth in savings
- Invest 15 % of your income
- Save for your children's college tuition
- Pay off your house early
- Build wealth and give
Are these 7 steps good to follow? Do they lead to financial success? Here's our opinion.
Also in this episode:
- What is the difference between an Emergency Fund and a Cash Cushion?
- Expectations and positive thinking.
Link to Dave Ramsey vs Infinite Banking binder: https://pages.mcfieinsurance.com/dave-ramsey-v-infinite-banking/?utm_source=youtube&utm_medium=link&utm_campaign=podcast&utm_content=557
We decided to ask Chat GPT questions about Infinite Banking. It was pretty accurate today, but it also had some serious errors.
We ask Chat GPT, What is Infinite Banking? And it gives us an example. We ask Chat GPT, What about using Indexed Universal Life Insurance for Infinite Banking? Is Dave Ramsey correct about Infinite Banking? Can I use Infinite Banking for Retirement Income?
This whole episode is questions we're asking to Chat GPT and other AI software, and then evaluating their responses.
If you don't know about a subject, it can be hard to separate the facts from the fiction... and AI software is only as smart as the sources it is quoting.
If you have questions you need clarified or answered, comment or contact our team. We are happy to help you.
Resources: Jesse buys a house, Infinite Banking vs Mortgage: https://www.youtube.com/watch?v=ge5HLcZybNU&t=9s
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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How Infinite Banking is going to work in 2026. What's changing? What's staying the same?
In this episode:
An update on Dad His diagnosis, treatment and whats happening right now.
Using Infinite Banking to keep your money growing at maximum efficiency
Using Infinite Banking with Real Estate
Why should you use Whole Life Insurance with Infinite Banking? Making a cash offer on a piece of real-estate
Using Life Insurance and Infinite Banking for Retirement
Using Infinite Banking to purchase a vehicle
Can I start an Infinite Banking policy on my children and grandchildren?
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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This is the story of how Michael and Andreini used Infinite Banking to purchase their new car. A Toyota 4 Runner Limited, AWD, premium wheels and less than 9000 miles for $55,500.
Infinite Banking allows you to put yourself in the driver seat of your own finances by providing access to financing under your own terms. No loan underwriting, no credit applications, you're in control.
You'll hear in this episode how Infinite Banking served Michael and Andreini when they purchased their new vehicle.
Because of Infinite Banking, they had negotiation leverage with the dealership and ended up with a deal within $500 of their original counter-offer price, including taxes and fees!
All the details of this story in this episode you don't want to miss.
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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Planning for retirement. Is it smart to follow what everyone else is doing? Can Life Insurance help with your retirement strategy?
What is a 401k?
What is a 7702?
We discuss planning for retirement in this episode and the many different options and approaches that are available, and what people choose.
Listen and get all the details now. 📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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Marc Adams is the founder of the world renowned Marc Adams School of Woodworking. He joins us on this podcast and shares the story of how it all got started.
The Marc Adams School of Woodworking (MASW) hosts world famous craftsman and artist to share their time honored crafts. Woodworking, glass blowing, painting, leather working, metal working, quilting, furniture building, joinery, cabinetry and the list goes on!
Learn more and sign up for a class on their website here: https://www.marcadams.com/
Kyle Busch is suing (and its a massive lawsuit!) over the performance of his Indexed Universal Life insurance policy that has killed his retirement plan.
We go over the details of whats going on in this podcast episode.
Is it the life insurance agents fault? Is it the Insurance Companies fault? What will this mean for other people who own this same kind of Insurance?
This a lawsuit for the books! And has the potential to effect a lot of people!
Listen and get all the details now. 📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
How do you get a large amount of money into an Infinite Banking Policy? We go over the details on this episode.
This episode follows the story of one of our real estate clients who came to us for an infinite banking policy.
Listen along and learn from this real life scenario.
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
Follow the Wealth Talks Podcast on: Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA==
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
These three board games all teach important financial lessons that are important to keeping more of the money you make, putting your money to use so it works for you, and achieving success in life.
Success looks different to everybody. But the principles to building wealth, making money, and having a passive income are consistent, and remain unchanged year after year. Listen as we discuss the important life lessons to remember as your pursue success.
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
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Listen to the Wealth Talks Podcast on:
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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This episode is all about getting your questions answered about infinite banking and whole life insurance.
Questions like: How long should I pay my premium? Do I need to repay my loan? Can I do interest only? Can I stop my premium? How quickly can I borrow from my policy? How to structure loan repayments for Infinite Banking.
These questions and more. If you have questions you would like answered, leave them in the comments or email them to us at team@mcfieinsurance.com and we'll address them.
Amortization tables based on borrowing $100k and repaying at 5.5%, 8% and 10% with repayments over a variety of terms. Use MoneyTools.net to calculate payments on a specific loan example.
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/
Follow the Wealth Talks Podcast on: Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA==
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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Growing your money while it accumulates, is necessary to a good savings plan. Having easy access to your savings without having to pay taxes and, without destroying the compounding growth you are earning. Is part of what makes Infinite Banking such a beneficial financial tool.
Having a cash cushion allows you to recover the opportunity cost of items you have to finance. Sometimes paying off your debt is not the best option. Listen and hear the story of how one of our clients has used Infinite Banking in his life.
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/
Follow the Wealth Talks Podcast on: Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA==
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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With the historical performance of gold in the last 12 months, it has raised a lot of attention and questions, about whether owning gold is an asset, and a good investment right now.
You can easily find endless advice and facts, supporting whichever view point on gold you are currently leaning towards.
Rather than giving you more advice on what we would do, In this episode we look at the history surrounding ownership and valuation/de-valuation of Gold, the pros and cons of owning and investing in Gold, and have discussion based on that. We don't advise you one way or the other, but rather focus on understanding all aspects of what investing and owning Gold would intel. This way you can make a wise educated decision, that will be best for you.
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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Dr Steve Hryszczuk is back on the podcast this week to talk about how he uses his Life Insurance policy cash values and Infinite Banking for real estate and his overall financial strategy.
This is part 2 of the interview with Dr. Steve. If you haven't yet heard part 1 make sure you check out last weeks episode!
Dr. Steve details how using Infinite Banking has impacted his life in the world of Real Estate investing and beyond. Having liquidity and multiple options for accessing cash has been a huge part of his success. He shares in detail how he has done it in this episode.
Dr. Steve's new book entitled "Commercial Real Estate Investing for Everyone" is also available now on Amazon. You can order it here: https://www.amazon.com/Commercial-Real-Estate-Investing-Everyone/dp/1625863217/ref=tmm_pap_swatch_0
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
If you have ever considered investing in real estate, this episode is for you.
Dr Steve Hryszczuk has been converting small, often overlooked office buildings into lucrative assets that create strong recurring streams of income.
In this episode, Dr Steve shares his proven business plan he has developed over the last 20yrs, for building a portfolio of commercial investment properties.
This is part 1 of a 2 part series. Make sure to subscribe to not miss next weeks followup interview.
Dr. Steve's new book entitled "Commercial Real Estate Investing for Everyone" is available now on Amazon. You can order it here: https://www.amazon.com/Commercial-Real-Estate-Investing-Everyone/dp/1625863217/ref=tmm_pap_swatch_0
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/
Failure is an event, not a person.
Its important to learn from our failures, and other peoples failures. This allows us to re-channel our energy and put ourselves in a better position for the future.
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/
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From the Charlie Kirk memorial event, to listening in on one a Jim Cramer show, IBC and everything in between. Join us for our round the table discussion on all the above topics.
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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- Is Whole Life always better than buying term and investing the difference?
- Does buying term and investing the difference give you a better return on your money?
- What happens if you need to use some money from your investment along the way?
- Is any whole life insurance policy good for infinite banking?
These are a few of the questions that come up and we answer in this episode. Not everything is as clear as it first appears.
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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Many famous people throughout history and currently today, use whole life insurance as part of their financial strategy to generate and protect their wealth. Its benefits have been praised and used by some of the most successful people in America... so why do some people dislike it so much?
Is it because of the the perceived lack of flexibility? Do people today have a harder time thinking longterm? Have Insurance agents tainted the perception of good life insurance by selling bad insurance?
Whatever the reason, there is a turning point happening. People are rediscovering Participating Whole Life Insurance and the incredible upside potential it offers to your financial porfoilio.
Listen and discover about Whole Life Insurance and Infinite Banking
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/
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Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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Albert Einstein famously said, "Imagination is more important than knowledge." This is because being able to be think outside the box allows you to move beyond what is known, and discover or create new things.
Infinite Banking is an exercise in imagination. Infinite Banking allows you to use your money while it is still earning and growing. It allows you to recover money that would otherwise be lost paying interest to the banks. Using Infinite Banking allows you to get ahead in life.
Listen to this episode to boost your imagination and help you use Infinite Banking better!
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/
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Velocity banking is a strategy where you use a line of credit as your primary account and use lump sums to pay off a loan, usually a mortgage. The idea behind this is that using a line of credit will help you use your cash flow and extra money to cover your expenses but also go toward paying off your mortgage. Most often the velocity banking strategy utilizes a Home Equity Line of Credit (HELOC)
We look at the numbers and the pros and cons of using this type of strategy to pay down your mortgage. The results are quite interesting. We discuss and compare results on this episode here.
More on Velocity Banking here: https://mcfieinsurance.com/velocity-banking-comes-to-a-screeching-halt-for-many/
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/
In this podcast episode, Tom, Michele and John talk about what Sherwood from Royalty Auto Service is doing for one of their customers.
The customer got taken advantage of and paid way to much for a car that had problems, Royalty Auto didn't just fix her car, they helped raise money for her to use to buy a better car!
Now they are taking her car shopping and they want to put her in touch with a financial advisor to help her manage the money everybody gave her.
They are really going the extra mile to look out for her. Tom Michele and John talk about some of the things this customer could do with the money to keep it safe, make it grow and improve her life.
This is an example of how social media can be used for good. What a story.
Infinite Banking allows you to access your money while it grows.
Unlike a 401k, IRA or other retirement accounts, with infinite banking you don't have to lock away your money until retirement age. You can use your money throughout your life, while its growing. This provides huge benefits and allows you to grow your money with investments outside of infinite banking, while earning an internal rate of return.
Using IBC, our son and his wife were able to purchase their first home without getting a bank loan.
Other clients of ours have used their Infinite Banking to finance vehicles, pay off high interest debt and invest. We share some of these stories on todays episode.
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Investing In Real Estate and Infinite Banking are complimentary financial strategies.
Having access to equity from a life insurance policy gives you the advantage of private lending.
Not having to qualify for a loan from a bank opens more real-estate opportunities and lets you move with speed and capability.
We have taught infinite banking at many real-estate conferences because it is such a complimentary and game changing strategy for real estate investors.
If you are wanting to get into real-estate, or already are doing real-estate, you need to listen to this podcast.
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In 1970 home prices were about 3 x the average income Today home prices are about 7x the average income
In year 2000, the average age of a first-time home buyer was about 30 yrs old Today the average age of a first-time home buyer is 38
What has caused this? Is it possible to still get ahead with the odds stacked against you?
We talk about all of this and more.
Listen Now
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Discover how to strike a balance between living well today and planning for tomorrow in this engaging episode.
Too often, financial advisors offer one-size-fits-all advice—pay off debt, save for retirement, or invest more—without considering the full picture of your life.
But life is more than just money. Time is short and finding joy in the present while securing your future is key.
Saving everything for tomorrow or spending it all today isn’t the answer. Learn how to create a healthy, fulfilling balance that works for you.
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Real Life Infinite Banking Stories.
In this episode we share a bunch of stories from our clients on how they have used infinite banking personally.
A Word of Caution! Don’t listen to this episode unless you want to feel inspired and encouraged.
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In this episode we go back to the very beginning of the Infinite Banking Concept and the teachings of Nelson Nash to look at exactly what is Infinite Banking.
Learn about the discovery of Infinite Banking, the teachings of Nelson Nash, and the core principles of The Infinite Banking Concept.
This episode will bring clarity to what the Infinite Banking Concept is, and why it works so well.
Real life Infinite Banking stories from clients of McFie Insurance as promised in episode 530 has been moved to episode 532. To listen to real life infinite banking stories go to episode 532.
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The big idea of Infinite Banking is that you recover the money you’re spending.
The Infinite Banking Concept uses a participating whole life insurance policy to accumulate equity, then use that equity to leverage for a loan.
This process can be understood easily by thinking of something we are already familiar with. A HELOC.
There are some similarities to using a Home Equity Lines of Credit and using a Life Insurance policy as collateral for a loan. We talk about them.
There are also some big differences that gives Life Insurance a big advantage. We talk about those.
The Infinite Banking Concept is very straight forward. Much of the complicated information and articles on IBC are not helpful and just cause more confusion.
This episode is all about Infinite Banking Made Simple. Listen and learn now
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Everything in life has a cost. Many times the cost of using one’s own money is overlooked, and the earnings that your spent money could have earned, are lost forever.
Using the Infinite Banking Concept and Participating Whole Life Insurance you can overcome this lost opportunity costb by having access to your money while it continues to grow.
Learning and implementing the principles of growing wealth that we talk about in this episode, will help you get ahead financially and build a more successful financial future.
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On a recent Dave Ramsey show there was a caller who is a trim carpenter making decent money, but wanting to save more. He was divorced 8 years ago, and now has 23k in savings. He owes about 25k left on his mortgage, and has a 20k dollar loan on his motor bike.
Dave gave some shocking advice to this guy!
We have a much different approach to how we help our clients than what Dave said to his caller, so we decided to add our commentary on this episode.
What are your thoughts on how Dave advised his caller?
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Warren Buffet has some advice on saving. We listen to what he has to say and discuss it.
Savings is the foundation of building wealth. If you can keep your savings earning a return while you also use it to buy things, you can grow wealth even faster.
Listen and discover how to grow wealth.
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A common question we get asked is, can I start Infinite Banking with a Lump Sum?
The short answer is: Yes
We find that what most people are really asking with this question is, Does it make sense to start Infinite Banking with a lump sum?
A detailed answer will take into consideration the specific amount of the lump sum, personal details, as well as rules and regulations that will apply to you, and will tell you not only if it is possible, but if it is profitable.
In this episode we share examples and scenarios that we've designed and observed, where people have funded Infinite Banking policies with lump sums of money. This will help you understand the process better.
When people think about saving money to get ahead financially, they often think about a qualified plan.
Unfortunately, qualified plans have not been all what they were cracked up to be, and today people are saving less than, before they were introduced to “help people save more”
Savings have become an after thought for many people today. In reality, savings should be treated with as much urgency and importance as your house payment, car payment and other expenses.
It is easier to save money when its is not locked away behind early access penalties. Its easier to save when your savings are growing for you. Its easier to save when you know you can access your savings to finance opportunities or needs in your life.
This is what we help people do, and what we discuss on the podcast this week.
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People are not saving enough for retirement.
People who are saving, are not saving in the best places.
This is creating a lack of funds in retirement, and often a need to go back to work later in life. Neither of these are good options.
We help people plan for and fund their retirement in a non conventional way. This allows our clients to have the freedom to progress financially even in retirement, rather than having to retire to a less and diminishing amount of income.
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Gaining a new perspective is essential for growth and transformation. It’s easy to stay locked into familiar ways of thinking, but changing your thinking and mindset will unlock new potential.
Listen as Michele and John bring to life small easy steps you can make to transform your finances and life to the next level.
It all starts with where you are and with what you have.
Listen Now
Today we're going to talk about how to discuss money in your marriage, and when. We'll also have a discussion on managing your own home economy.
Money and Marriage are two things that should go together well. If they don’t go together well, they usually no longer go together at all. Divorce happens. Divorce is never pretty, and deconstruction of a family is bad for everyone.
We have had to make financial decisions in our marriage over the years that we never would have anticipated. We have also witnessed other couples make financial decisions over the years (good and bad). You'll get to hear about all of that in this episode now.
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Here are some highlights from our recent live seminar Infinite Banking Made Simple. One of the seminar attendees wrote: "Anyone can benefit from this [the Infinite Banking Concept] if they can wrap their mind around it." She is right!
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Today we are discussing the biggest financial mistakes that we see people make. It is our hope that by discussing these financial mistakes you can avoid making them yourself.
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What is Financial Freedom? Is it the ability to buy anything you want at any time without looking at the price tag? Is it having enough money that you “Never have to work again.” Is it not having any debt and no debt payments?
Money isn’t everything, but it rates reasonably close to oxygen on the “gotta have it scale” Everybody knows what money is, but what is financial freedom?
Do people have financial freedom once they finally have a million dollars in a bank account? Or does your bank account balance even matter?
Is financial freedom permanent? How do you know when you are financially free and what does that look like exactly?
That’s what we are going to talk about right now.
In the 1990s, Americans on average were spending 34.5 cents per every dollar on interest. That means when you make 1,000 dollars, you only get to keep 655.
If this is what was happening 30 years ago, imagine how bad it is today!
This podcast is about How to Keep More of the Money You Make by recovering interest cost in your life.
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There are two ways to gain experience in life. You can get experience personally or you can get it secondhand by watching and learning from other people’s experiences.
If you can successfully learn from other people’s experiences you can get ahead much faster in life.
It has been said that a joint venture is where one party brings experience, one party brings money and at the end of the venture the parties have switched...the party who brought experience ends up with the money and the party who brought the money ends up with experience.
In this podcast we are going to be sharing other people’s experiences with money and interest. These real life stories have some very good learning opportunities that can help you grow your wealth better.
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First off, is an overview of how banking works. The way a bank manages their deposits, loans, assets and liabilities is the key to how they make money.
By understanding and following some of the same principles a bank uses, you can self finance items in your life and earn the interest you would have otherwise paid to someone else. This is often referred to as Becoming Your Own Banker, or The Infinite Banking Concept.
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People are in a big middle-class squeeze right now. Paychecks seem stuck while expenses go up and up.
Housing, healthcare, debt—the middle class is juggling it all - with no safety net, in many cases. Sometimes affordability feels like a myth but we’re helping people fight back to attain financial stability and success.
Today we’re talking about very real financial struggles which most people in middle-class America are facing along with solutions to help you make progress regardless of where you’re starting.
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Did you know that no insurance company truly 'does' Infinite Banking—but many offer the keys to unlock its potential?
We'll break down how top life insurance companies offer policies that can unlock the power of infinite banking, even when they're not promoted that way.
Learn about:
What characteristics separate a good infinite banking policy from a standard life insurance policy.
How dividend performance (PWLI) impacts a policy's long-term value and the mechanics of policy loans.
Why some companies might discourage or limit these loans and the potential implications for policyholders.
Mutual vs Stock company dynamics with Infinite Banking.
Direct vs Non-Direct Recognition - interest rates / cash value growth.
Riders available. Some companies offer PUA and term rider combination for high cash value
Much has been written, published and said about Infinite Banking.
Sometimes it feels confusing to decipher what’s really accurate. If you ever feel confused, you'll enjoy this podcast. We're going to shed some light on popular misunderstandings surrounding Becoming Your Own Banker and The Infinite Banking Concept.
Points of common confusion:
- Treating Infinite Banking as an Investment - Just looking at the ROR versus the Return of Money
- Viewing Infinite Banking as a product rather than a process
- Thinking of a life insurance policy as a bank.
- Trying to borrow money and repay it, just to make the policy grow better
Did you know you can earn a positive average rate of return and still loose money? ...You can!
Can IBC be used well in this economic climate? It can, and we are... Ben shares an investment he is doing with The Infinite Banking Concept right now.
We read through more reddit questions this week, and you'll get to hear about:
- The Nelson Nash Golden Rule
- 4 major reasons to own Whole Life Insurance
- A question about a Penn Mutual Policy
- plus more
This is an episode you don't want to miss.
Today were going to go to Reddit and read what people are saying about Infinite Banking. Then we'll respond to them right here on the Wealth Talks Podcast.
You don't want to miss this!
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Watch to the End! Some people have a bad experience with the Infinite Banking Concept. We'll share what happened.
People ask how much money do you need for Infinite Banking or they assume they need to have more than they do, in order to benefit from Infinite Banking.
On the flip side, people who have more money sometimes think Infinite Banking is only for people who have less money. What is the truth?
Do you have to have lots of money to use infinite banking or do you only need to have a little? Or, is there a golden number somewhere in between that really makes the Infinite Banking Concept work?
Listen and find out the answer to these questions and more!
Watch this episode on video here: https://www.youtube.com/@wealth-talks-podcast
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In this episode of the Wealth Talks Podcast we get to talk about one of the foremost reasons we use the Infinite Banking Concept and that has to do with our family.
We explain how we've structured our finances even beyond using the Infinite Banking Concept and how that works for us.
The Infinite Banking concept is a wonderful thing for families because it can help families build wealth faster and establish a family economy.
If you have a family you will love this.
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Business owners have the opportunity to use the Infinite Banking concept and Whole Life Insurance in some very creative ways to benefit their business.
We're going to talk about how one company is using whole life insurance to create a very nice financial arrangement for the owners.
Listen and Enjoy!
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In this episode we are going to talk about how to buy things with the Infinite Banking Concept.
We talk about how to use Infinite Banking with a credit card to maximize your returns and create cash flow.
We'll share details on things we've financed using IBC, and you'll get ideas on things you can self finance in your life.
If you own your own business or want to own your own business you will want to hear what we talk about in this episode. Business owners love Infinite Banking. We'll share some specific business owner self financing opportunities in this episode as well.
Enjoy!
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In this episode we are talking about Infinite Banking policies.What kind of life insurance policy you want for the Infinite Banking Concept and how to tell the difference between good and bad Policies.
We get quite a few policies that come in to our office for review. Sadly a lot of these policies are pretty bad, but that’s also kind of good news in a strange way because the sooner you know you have a bad policy the sooner you can handle that problem, and get the policy you wanted to begin with.
There’s a lot of things you need to know to get the best life insurance policy for the Infinite Banking Concept, but there is also a lot of things you don’t need to know and if you stop to analyze all of them, it can delay you from actually getting started.
Davy Crockett’s motto was purportedly “Be sure you’re right then go ahead.”
That’s some of the best advice when it comes to The Infinite Banking Concept too.
If you are practicing the Infinite Banking Concept and you don’t know beyond a shadow of a doubt whether your policy is good or bad, make sure you contact us to get a policy review, It’s is so worth the financial peace of mind.
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Some people love the infinite banking concept and use it a lot, some people look at it for years without trying it at all, some people never try it and some people start and then stop. There has got to be more than one opinion on whether the Infinite Banking Concept works or not, but today you are going to get our opinions.
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In this episode we are talking about what people need to know to get the MOST benefit from the Infinite Banking Concept. The most important thing people need to know, to benefit from the Infinite Banking Concept, is how to get started. There are a lot of benefits to be had from the Infinite Banking Concept but you won’t get ANY of them, unless you get started. What people need to know to get the MOST benefit from the Infinite Banking Concept is how to expand their system of Infinite Banking policies properly.
That’s what we are talking about today. After this episode you will know how to expand your system of policies.
If you have any questions about how you specifically, in your current situation, should get more involved with the Infinite Banking Concept, I would suggest contacting us. We have personally been using and teaching the infinite banking concept for more than 17 years. We know how to use it, we know how to get the benefits of the Infinite Banking concept and we know how to help you do the same. With the new year just getting underway, what better time than now to make sure you are getting the benefits of the Infinite Banking Concept?
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We NEVER hear people say “I wish I would have waited a little bit longer before I got started with the Infinite Banking concept”. We DO here people say, “I wish I would have known about this sooner.” This begs the question, “How do you “get started” with the infinite banking concept?”
We are going to answer that question today and we are going to answer it in detail because getting started with the Infinite Banking Concept will look a little bit different for everyone.
If getting started with the Infinite Banking Concept is one of your goals for the new year, be sure to call us at McFie Insurance, We can help you make that goal a reality. Over the last 16 years, dozens of people, probably hundreds of people have said, “I wish I had started this sooner.” But never have I heard anyone say, “I wish I would have waited a little longer to get started.” To contact McFie insurance you can call us at 866-502-2777 or you can email us: our email address is team@mcfieinsurance.com
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We have been using the Infinite Banking Concept personally for 19 years at this point. Although the way we have used it changes over the years as the economic environment changes, The Infinite Banking concept still works just as good as ever.
The Infinite Banking Concept is an idea, It’s how you think about money.
New Years are incredibly popular times people resolve to improve their lives and their futures, but tragically they tend to be the beginning of yet another failure to people who don’t plan first, then prepare and then take action on their programs.
We want to encourage you to take a moment and make a plan to succeed in 2025, once you have a plan together then you will know how to prepare for action and that will put you on the trail to accomplishing your goals.
Link to video with Alex: https://www.youtube.com/watch?v=KW0UkMsTgIg&t=15s
If getting started with the Infinite Banking Concept is one of your goals for the new year, be sure to call us at McFie Insurance, We can help you make that goal a reality. Over the last 16 years, dozens of people, probably hundreds of people have said, “I wish I had started this sooner.” But never have I heard anyone say, “I wish I would have waited a little longer to get started.” To contact McFie insurance you can call us at 866-502-2777 or you can email us: our email address is team@mcfieinsurance.com
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Recently Tucker Carlson interviewed Dave Ramsey. Dave Ramsey is a well known name in personal finance. I listened to the interview, I was impressed.
Dave has a large personality and although we disagree with him strongly on certain points especially, life insurance and money management, he can be a good wake up call for people who are living in the bondage of debt, spending more money than they make and not getting ahead financially in life.
We have helped many people who first started with Dave Ramsey to get in control of their financial lives.
Dave Ramsey will probably never understand Whole life insurance and the power of the Infinite Banking Concept, but he does help people who are in bad financial shape get control of their situation.
Once someone is in control of their financial life, we hope they will continue to learn and grow, become better money managers and start a legacy of financial freedom in their family.
There is a report showing that over 5800 IRS and contractor employees owe nearly 50 million dollars of overdue taxes.
It also appears by the looks of things that many of the employees are wilfully evading taxes… It seems like they know the system well enough to know how much they can get away with and they’re doing it.
The IRS acknowledges this is happening, they seem to have metrics on it because out of the 70 employees who they claim are “willfully evading” taxes, they have fired 20.
What do you think would happen if every American started to evade taxes, but less than one third of them had any consequences for doing so?
Listen Now and tell us what you think in the comments.
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It has been said that the next generation will be able to rise as high as they can rise by standing on the shoulders of the generation before them. My Dad gave my siblings and me the opportunity to rise higher with the foundation he gave us, and in turn, we hope to do the same for our children.
It is a beautiful thing to see how the actions of a person can aid their posterity. It is a tragic thing to see how the actions of a person can setback their legacy and stunt their posterity.
If you haven’t already, please write a review for The Wealth Talks Podcast before we reach 500 episodes. The 500th episode is a major milestone and we would love to have you be part of it. Your reviews mean a lot to us and The Wealth Talks Podcast. Thank you!
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This is a story that my Dad told to me when I was younger, about his Mom (my Grandma) and her next door neighbor who was a thief.
My Grandma caught and confronted her neighbor stealing from her, right in front of her nose. The way she put an end to the robbery, was genius. It will bring you a chuckle... and also some wisdom.
Here is the story in detail. Enjoy!
P.S. My daughters Anna and Gracine took this story and wrote and illustrated an entertaining children's book based on this story.... as you can probably guess. I highly recommend.
You can order it on our website here, and get it for Christmas: https://mcfieinsurance.com/store-detail/#GrandmasCoffeeCan
It has been said that the healthiest of all human emotions is Gratitude.
This is Thanksgiving week, on Thursday we take the whole day off to give thanks for wonderful things in our lives.
The more you express your gratitude, the more you have to be grateful for. Kind of like work. The more work you do, the more work you will have to do. What you focus on expands
There is so much to be thankful for and we probably don’t spend as much time as we should feeling it. Here are some things we're thankful for, and also a fun "grateful" activity you can try out at thanksgiving this year. Listen Now!
Happy Thanksgiving!
If you haven’t already, please write a review for The Wealth Talks Podcast before we reach 500 episodes. The 500th episode is a major milestone and we would love to have you be part of it. Your reviews mean a lot to us and The Wealth Talks Podcast. Thank you!
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In sports, when the whistle blows the play stops. It’s what happens after the whistle blows that determines the course of the game.
Blowing the whistle is the first and most monumental step in getting different results in life. What you do, after the sound of the whistle has faded, is the biggest contributing factor to the results you will eventually get.
We hope you can see why we think you should have a whistle protocol in your life. We want you to succeed in the greatest way possible.
If you haven’t already, please write a review for The Wealth Talks Podcast before we reach 500 episodes. The 500th episode is a major milestone and we would love to have you be part of it. Your reviews mean a lot to us and The Wealth Talks Podcast. Thank you!
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Today We take a look at the election results, and what we can expect and prepare for financially with a second Donald Trump administration.
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Voting is a Duty. To use the words of early president John Quincy Adams, "duty is ours, results are God's".
Not voting in a U.S. election would be to shirk our duty and let our fellow Americans down.
There is no patriotic way to sit on the sidelines and not vote in an election.
If you are a citizen of the united states, you have a duty to discharge.
Listen to this before the polls close. Voting is a duty.
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The topic for today’s podcast is investment banking. We think that if you act like an investment banker in your own life you will be more profitable and get ahead faster financially.
The way you think and what you think about is the foundation for what you do. If you can think like an investment banker, and act in accordance, you can have opportunities to grow your wealth like banks and businesses.
In specific situations it is beneficial to think like a banker. I tell people “You need to put on your banker’s hat.”
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Some people are pretty well stressed out. Of all the things people stress about, of which there are many, somewhere near the top of the list is money!
Financial stress is a big deal and that’s what we are talking about today!
Financial stress can be horrible or beneficial, and the effects can reach into all the areas of your life. It's all in how you respond to it.
This is what we are here to talk about today.
Hopefully This episode is helpful for you as you deal with whatever stress you have in your life.
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If you have a small business or entity that requires filing with your state, there’s a new rule you need to comply with by registering with FinCen. The filing is mandatory and the consequences are massive for not complying.
It is estimated that 50% or more of small business owners do not know about this rule. Make sure you listen to this episode so you know what to do. Expert Attorney Lee Phillips will explain who, and when you need to register, and also how.
We’ve worked with Attorney Lee Phillips over the years to develop asset protection for businesses and individuals, using things like LLCs, S corps, wills and trusts etc. Attorney Phillips is a great asset, and today you get to learn from him on Wealth Talks Podcast.
Some people have owned whole life insurance for several years and they want to get more involved with infinite banking. They want to make sure that they are using the infinite banking concept and their policy to their best advantage. That’s good. Today we are going to talk about how to do that.
Some things we will talk about in this episode will be:
Should you borrow from your cash value for everything? When should you take a policy loan? Do you have to pay back a policy loan? Should you pay back a policy loan fast? Can someone own multiple policies?
ENJOY!
Investment Grade Life insurance is not an actual product. It is rather, terminology that was created to sell more life insurance. Listening to this episode will help you to better understand what people mean when they use the phrase "Investment Grade Life Insurance". There are lots of different types of life insurance policies out there. Some are good, some are bad. Life insurance is sold by honest and dishonest people. If you want a policy that helps you keep more of the money you make, grow your wealth and give you financial peace of mind, make sure you get a good policy and buy it from someone who has good character.
Being in the financial space like we are, we get asked about what will happen if the dollar collapses, we get asked what we think about cryptocurrency. Do we think the dollar is doomed? Do we think Crypto is a good investment? Do we think Crypto will replace the dollar? We’re going to talk about all of this right here right now, buckle up.
One of the most well known cryptocurrencies is Bitcoin. I don’t own Bitcoin, but we have clients who do, some of them did very well when bitcoin went up so significantly in 2020.
That’s one side of the coin, the other side of the coin is that we have clients who believed so strongly in the future of Bitcoin that they mortgaged their home to buy it and ended up losing their house.
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A lot of people have Trust issues... we're not talking about psychological trust issues, we're talking about issues they have with a legal Trust.
One of the Trust issues people have is simply not having any Trust at all. That’s an issue because Trusts keep estates out of probate!
There are many legal tools available that can provide specific benefits in specific situations. Many of the legal tools that are used by the wealthiest people have been established to grant the wealthiest people exceptions to rules. You don’t have to be extremely rich to use and benefit from the same legal tools, but on the other hand, just because they are available doesn’t mean you should or have to use them.
The more you know about the legal tools available, how they work, the benefits they can provide, and the problems they can create the better decisions you can make to grow and protect your wealth.
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Are you bored with your budget? Are you tired of feeling frustrated and limited?
Budgeting doesn’t have to be boring. If you structure your budget the right way, you can feel free and creative instead of trapped.
To be effective, a budget has to be practical and also flexible.
Listen to this episode and discover some new creative ways to work your budget. Budgeting can be fun and extremely rewarding, if you do it the right way.
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Many people think slavery in America was a thing of the past, we fought a civil war to end it and we’re glad it’s gone, but there are many people today who are enslaved.
We are talking about financial slavery and how to escape the bonds of financial slavery today right now on Wealth Talks.
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Someone asked us to respond to the opening and closing ceremony at the 2024 Olympics, Brett asked us to talk about what someone should do with the money if they win the lottery, and Carlo asks if we had the choice between taking retirement benefits at $7800/mo. with lifetime free medical vs a lump sum of $1.5million dollars which one we would choose.
3 completely different questions, but all interesting in their own way. We are going to talk about all three of these things today right here on Wealth Talks.
If you you have a question, or would like us to comment on a topic, feel free to reach out in the comments below.
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Not long ago in podcast 469 we Rebutted a Dave Ramsey video that a podcast listener sent us. That podcast episode has been watched by hundreds of people and the feedback has been really something. A lot of people loved it and some people didn’t, you can see their feedback in the comments on episode 469. But through it all, another listener sent us another Dave Ramsey video and we are going to respond to that video today.
If you haven't seen this particular video you can watch it here:
The Dave Ramsey video Jonathan sent us:
https://www.facebook.com/story.php?story_fbid=985650382924576&id=100044388700838&mibextid=WC7FNe&rdid=I82xtNhc7kJWBVgW
1:38 Is life insurance an asset? 2:28 Dave Ramsey's life insurance example 10:00 Do you need life insurance after age 50 12:46 When Buy Term and Invest the Difference doesn't work out 14:33 Should you invest or buy life insurance 16:39 Fisher Price donut ring demonstration 21:12 Is Dave Ramsey a life insurance agent?
If you have a question or content you would like us to comment on in the podcast, reach out to us in the comments. We look forward to hearing from you soon.
Credit unions will mail out life insurance offers sometimes. Are they a good deal? Should you buy life insurance through a credit union offer?
That’s what we are talking about today.
Credit union life insurance is better than nothing, but there are better deals.
Listen and learn about the different types of life insurance available for you today.
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If you own a business you can absolutely use the infinite banking concept to fund business expenses and that’s what we are going to talk about right now in this episode of the Wealth Talks podcast.
A lot of business owners want to use infinite banking to finance business expenses because of the intrinsic benefits. We’re going to talk about the benefits and also the process of using the infinite banking concept for business.There are a few things you want to get right to get all of the benefits and have no problems.
The benefits include tax benefits, time savings, increased profits, more productivity, cost savings, flexibility for loan repayments, better cash flow and peace of mind.
In this episode we talk about: • Real concrete examples of a business loan and the results • How to use the infinite banking concept to help with taxes • How you can keep the interest personally that your business pays on the loan • How you can finance equipment that will increase productivity • How to get a discount on subscriptions and commercial insurances by paying in advance • How to defer loan repayments to a more lucrative season if necessary to improve cash flow
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In this podcast we are talking about the problems with the infinite banking concept.
The infinite banking concept is an idea not a product. The infinite banking concept is a way of thinking about money and finance in a way that allows you to keep more of the money you make, grow your wealth and have financial peace of mind.
Some people think the infinite banking concept is a life insurance policy. Or that a life insurance policy is an infinite bank. It is not. The only reason life insurance is associated with Infinite Banking at all, is because life insurance has tax preferred treatment, gives the owner reasonable growth on their money, provides protection and lets the owner leverage their money without giving up policy growth or guarantees.
Some big problems we see when people try and get set up with the Infinite Banking Concept are:
• Too big of premiums
• Borrowing to pay premiums
• Borrowing and repaying loans just because
You can avoid these problems and be successful with the infinite banking concept by learning how it works and implementing it correctly. We will cover that in this podcast too.
If you have a question about the Infinite Banking Concept, ask your question in the comments, or send an email to producer@wealthtalks.com so we can answer your questions right here in the studio.
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If you wonder how much life insurance you need? Or how much life insurance you need for infinite banking? This is your podcast.
The most honest answer to the question of, “How much life insurance do I need?” is, “Nobody knows”. And the shortest answer to the question of “how much life insurance should I have” is probably, "MORE!" ... let us explain
A lot of people settle for the life insurance they’re offered through work or from a friend, some people don’t have any life insurance at all, but people who understand how life insurance works want it and they want specific policies and certain amounts.
We are going to talk about how to get the life insurance you want, how to use the cash value while you’re alive and how to provide financial peace of mind for your family when you die.
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This podcast will be helpful to those who want to keep more of the money they make, grow their wealth and have financial peace of mind.
On a side note... We have Jasper here in the studio with us this morning. He’s 9 weeks old German Shepherd Puppy. Jasper is our up and coming guard dog. We have a guard dog up at our house already, her name is Lulu, she’s a german shepherd also and does a great job, She patrols around our house, but Jasper’s duties will be to guard the barn area.
German Shepherds and Life Insurance go hand in hand in our family. Listen to hear the story on todays episode of Wealth Talks Podcast.
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As we teach people about whole life insurance, how to manage money and the infinite banking concept, time and time again people tell us “I wish I would have known about this sooner”, or, “they should teach this in high school”.
When you find something that works so well, it’s hard not to look back and wish you had that knowledge or that product earlier in life.
In this episode, Episode 477 of the Wealth Talks Podcast we are going to talk about the things we wish we knew about finances before age 18. That covers high school also, yes, some of these things we talk about today, should be taught in high school.
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Today we answer 9 questions we received about life insurance, cash value, money, interest rates, and dividends. These questions and their answers will be helpful to anyone who uses, or plans to use life insurance cash values and the Infinite Banking concept.
The questions are:
-
Do I get to choose the interest rate I pay on a policy loan?
-
If the dividend rate is 5% and my policy loan interest rate is 4% am I making 1% on the difference?
-
When I pay back my policy loan with interest am I paying myself back principle and interest?
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Does the interest I owe on a policy loan change every month if I am making principle and interest payments monthly back to the policy?
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What is the interest rate that the guaranteed cash values compound at?
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How is the dividend rate determined?
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Is the dividend rate the same as the compounding growth rate of the policy cash values?
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Can the insurance company alter my life insurance contract if I start flight lessons?
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When I borrow money from my policy how does it affect the guaranteed growth of my policy? How does it affect the dividends? How does it affect the face value?
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In this podcast you will get specific numbers, and details from two different Whole Life Insurance policies, what the premiums are, how long they can be funded and how much money the owner can borrow.
This is a glimpse into infinite banking policy design that many people will never get.
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The way you think is the lens through which you observe every situation in life. The way you observe influences how you respond and how you respond makes an enormous impact in your life for better or for worse.
Respond… and that’s such an important word, because many people go through life reacting to what life presents to them and that’s not an ideal situation to be in.
The difference between responding and reacting can be as significant as life and death, If you touch a hot stove, your reaction can save you from severe burns, in the same way a response instead of reaction can neutralize a bad situation, and lead you to successful communication.
If you have a bad mindset, how do you fix your mindset?
If you habitually react, how do you start responding instead?
If you don’t like the results you are getting, how do you get different results?
All this and more on this episode of The Wealth Talks Podcast
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Have you ever wondered what the world will look like when today’s young adults become the middle-aged people of the future?
The future is full of possibilities for everyone. There will be people who seize the opportunity to make a possibility a reality and there will be people who let the possibilities remain possibilities because they don’t want to make a commitment or put in the work.
If anyone, young or old, rich or poor, man or woman, chooses to do what it takes, success can still be theirs.
If you have young children make sure to involve them in what you are doing so they don’t have to figure everything out from scratch when they are the next group of “young adults”.
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If the money you save isn’t earning anything, it is losing value. That’s horrible news, but it’s the truth.
We were on a business call with Alex just the other day and he asked, what is happening to the middle class?
Middle class is defined largely by household income adjusted for household members. Anything from about 50k/150k of income per person is considered middle class right now.
The most obvious thing that hurts the middle class is Inflation.
Inflation is stealing the value from your money every day and if your savings can’t outpace inflation, or at least keep up with it, you are falling behind.
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Today we have Anna, in the studio with us, to discuss how she has built her baking business from scratch, no pun intended, and to discuss some of the challenges and problems she has faced along the way. We also are of course going to sample one of her famous treats.
Anna's business, Bread and Butter baking, makes sourdough bread, cookies, cakes, pies and cinnamon rolls.
You can also watch the video of this episode on Youtube: https://youtu.be/Yx7DqS6WZHg
Cash Value Life Insurance is one of the lesser understood financial assets that you can own, but it is also one of the most powerful. In today’s episode of The Wealth Talks Podcast we talk about the cash value of life insurance policies, what it is, where it comes from and how it can be used. This episode is all things cash value.
After this episode you will understand life insurance cash value better than you ever have before.
Paying Property Taxes using the infinite banking concept: https://www.youtube.com/watch?v=dBG9Gk8lGTw
Review WealthTalks on Apple Podcast here: https://podcasts.apple.com/us/podcast/wealth-talks/id978187163
As a listener of the Wealth Talks Podcast you can request episodes that answer your questions or talk about something you want to know more about, just send an email to producer@wealthtalks.com
Josh listens to Wealth Talks on his way to work and he asked us to do a rebuttal to an episode of Dave Ramsey’s show where he is talking about the infinite banking concept. We happen to know a lot about the infinite banking concept, so if anyone can add perspective to Dave Ramsey’s video about the Infinite Banking Concept it would be us.
The video Josh sent to us is called Heated Debate Between Infinite Banker and Dave Ramsey if you need more context to anything we talk about in this podcast the link to that video is here: https://www.youtube.com/watch?v=A-NKv_wp8DM
If anyone knows Jim from Nashville who was on this episode of the Dave Ramsey show, please email producer@wealthtalks.com and let us know. It sounds like Jim has put a lot of thought into what he is doing for his son and we would like to hear more about it.
Review WealthTalks on Apple Podcast here: https://podcasts.apple.com/us/podcast/wealth-talks/id978187163
As a listener of the Wealth Talks Podcast you too can request episodes that answer your questions or talk about something you want to know more about, just send an email to producer@wealthtalks.com
There has been a lot of money transferred from the accounts of working Americans into the coffers of the U.S. Government from the income tax alone. But worse than that it has created division among Americans and that is the worst repercussion of the 16th amendment.
In this episode we talk about:
• Tax avoidance vs. tax evasion• Tax avoidance procedures• Tax planning measures• Tax fighting duties
Listen as we will talk about ways to avoid income taxes, pay income taxes and fight back against the progression of the income tax.
What do you think of the 16th amendment?
The Richest Man in Babylon book has the reputation of being responsible for creating more millionaires than any other book in print. If that is the case, the advice in this book may be the best financial advice in the world.
The financial advice given in this book has many aspects. One of the most fundamental of these is the 10-20-70 Rule.
The powerful thing about the 10-20-70 rule is that no matter how much or how little money you make there is always 10%... 20%... and 70%. And it works on any scale.
Listen and discover how to apply this fundamental financial principal to your finances, and then watch how it transforms your life.
Resources:How to get a Whole Life Insurance Policy: Contact McFie Insurance 702-660-7000 | team@mcfieinsurance.com | https://mcfieinsurance.com/
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In days gone by many private companies could offer pensions that would actually support someone financially in retirement, but those days are gone and so are the pensions.
The financial side of retirement is extremely uncertain, many mainstream retirement plans are mediocre at best and while the desire to retire persists among people, the financial challenges of retirement have increased.
The Financial Side of retirement can be better than the forecast looks, if you do something different than what most Americans are doing.
Watch this episode and start planning for a better retirement now.
Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast
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Listen to the Wealth Talks Podcast on:
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Inflation is like a thief that never comes.
It is good to protect yourself from inflation in every way you can. The bible says that if the man of the house knew what time the thief was coming he would be on the alert and not let his house be broken into.
We know the thief is here, our duty is to protect our financial house to the best of our ability.
This episode of Wealth Talks Podcast is a timely episode for how to combat inflation in 2024.
Resources:
How to get a Whole Life Insurance Policy: Contact McFie Insurance 702-660-7000 | team@mcfieinsurance.com | https://mcfieinsurance.com/
Follow the Wealth Talks Podcast on: Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA==
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Listen to the Wealth Talks Podcast on:
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163 Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
This is an example of how someone used the Infinite Banking Concept and the cash value of their life insurance to expand their welding and fabrication business. One of the owners of Brothers Fab Shop joins us in the studio to answer all our questions.
We ask about: The expansion opportunity How to borrow from a policy Have they paid the loans back yet How has the expansion affected business and more
This episode of Wealth Talks Podcast is a great episode for anyone who owns a business. This is how the Infinite Banking Concept can work for a business owner.
Resources: How to get an Infinite Banking Policy: Contact McFie Insurance 702-660-7000 | team@mcfieinsurance.com | www.mcfieinsurance.com
Follow the Wealth Talks Podcast on: Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA== Facebook: https://www.facebook.com/profile.php?id=61554798231074
Watch on YouTube: https://youtu.be/Z8XUZ825QP8
In this episode we review the numbers of the first Infinite Banking policy we bought. We have owned the policy for 18 years now so you could say it’s an adult policy now. Over the years, We have paid lots of premiums on this policy and we have also used policy loans against the cash value for many things. We go over all of it in this episode, episode 463, of The Wealth Talks Podcast.
Resources: 2 Ways to pay the most hated tax in America: https://www.youtube.com/watch?v=dBG9Gk8lGTw
Get a good Infinite Banking policy for yourself: https://mcfieinsurance.com/ 702-660-7000 mailto: team@mcfieinsurance.com
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Watch on YouTube: https://youtu.be/iOb_5_It0b4
In 2005 our family went on vacation. We drove from Oregon where we lived at that time down to San Diego California to spend some time on the beach. But on this particular vacation Dad may have been more excited about a book he was reading than the vacation we were taking.
We had not been thrilled with all of the results we were getting from the financial advice we had followed most of our life, and here were some of the missing pieces in this book.
The Infinite Banking Concept is a way of thinking that can revolutionize your financial future.
In this podcast we talk about how we found The Infinite Banking Concept.
Resources: Contact McFie Insurance to buy life insurance or for a life insurance review: 702-660-7000 mailto: team@mcfieinsurance.com
Follow the Wealth Talks Podcast on: Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA== Facebook: https://www.facebook.com/profile.php?id=61554798231074
Watch on YouTube: https://youtu.be/D79Rx01vFNQ
Our son Jesse, Is getting married this month, Jesse will be the first of our 8 children to get married. We are very happy for him and his soon to be wife, Alyssa.
We thought it would be interesting and useful to have Jesse join us in the studio for this episode of Wealth Talks to talk about premarital financial considerations, house hunting and wedding plans among other things.
Resources: To buy life insurance or get a life insurance review, contact McFie Insurance. mailto: Team@McFieInsurance.com or 702-660-7000.
Follow the Wealth Talks Podcast on: Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA== Facebook: https://www.facebook.com/profile.php?id=61554798231074
Watch on YouTube: https://youtu.be/8Yj3ICOJbu4
#wedding #finances #housebuying
Interest rates are rising right now and being in debt is becoming more expensive all the time. In this episode, episode 460 of the wealth talks podcast, we are going to talk about how to be debt free.
Becoming debt free can be a daunting task, many people will never know what it feels like to be debt free.
People take on debt voluntarily or involuntarily. Voluntary debt in our country often involves student loans and credit cards. Involuntary debt often involves emergencies. To truly be “debt free” you can’t have any debt, none, nada, zip, zero. This is how to be debt free.
Resources: https://mcfieinsurance.com/10-20-70-budget-system
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Watch Wealth Talks Podcast on YouTube: https://www.youtube.com/@wealth-talks-podcast
It is good to have life insurance, but having bad life insurance can be worse than having no life insurance at all.
Michele reads a message from someone who writes in about how they bought the wrong kind of life insurance even though they were trying to get good life insurance.
We talk about how to get good life insurance and how to check the life insurance you already have to find out if it is good life insurance.
Life insurance is something you want to get right the first time because it gets more expensive with time.
Resources: Go here to get the free policy checklist we talk about in this episode: https://mcfieinsurance.com/podcasts/how-to-get-life-insurance/
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Watch Wealth Talks Podcast on YouTube: https://youtu.be/rSNhjrw0P0s
The death benefit is probably the most prominent feature of life insurance and the feature most people think of when they think of life insurance. But that’s not the only benefit of life insurance, you can use the cash value of your life insurance while you’re still alive because your life insurance policy is collateral.
You can also assign your life insurance as collateral to use other people’s money.
If you own a business you can use life insurance as a benefits program and to keep critical employees.
Resources: To get term insurance contact https://mcfieinsurance.com/ Mailto:team@mcfieinsurance.com call: 702-660-7000
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Watch on YouTube: https://youtu.be/axpMwXi2s78
Most people think life insurance is for when you die, it is, but, you can also use the life benefits of whole life insurance while you’re still alive. What about term insurance though? Is it any good or is it a waste of money?
Many people who have term life insurance now are going to be severely disappointed when their term is up because you can't turn back the clock and get new coverage at the same low rates you had before.
Resources: To get your life insurance reviewed call McFie Insurance at 702-660-7000 or email: team@mcfieinsurance.com
Follow the Wealth Talks Podcast on: Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA== Facebook: https://www.facebook.com/profile.php?id=61554798231074
Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163 Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
Watch on YouTube: https://youtu.be/VjQg5RPgEok
We get to listen to an interview with real estate investor John Morey.
John talks about why he bought whole life insurance, how he started out using it wrong.
Why he like to use whole life insurance to grow his wealth, and how he teaches other people about how they can benefit from using life insurance and invest in real estate.
0:00 Interview with John Morey 3:41 What is a MEC policy? 5:08 Don't make this mistake with Infinite Banking 20:50 Why starting now is important (visual demonstration)
Resources: https://southerncharmre.com/
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Watch on YouTube: https://youtu.be/PPUQAmAdkSA
Mark Twain has the credit for saying, “The Return of my money is more important than the return on my money.” It is better to make an investment that returns a small increase as well as your seed money than it is to make an investment that has a large projected return but fails to return your seed money. Warren Buffet said, “The first rule of an investment is don’t lose, The second rule of an investment is don’t forget the first rule and that’s all the rules there are.” If you lose your seed money, how are you going to get ahead financially?
You can earn a positive average rate of return while you're losing money!!
We talk about bad investments, good investments and how to access capital to make investments.
Resources: Life Insurance review: https://mcfieinsurance.com/
Follow the Wealth Talks Podcast on: Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA== Facebook: https://www.facebook.com/profile.php?id=61554798231074
Watch on YouTube: https://youtu.be/fcX19z967m8
Every time you spend money you are making an investment. It’s either a good investment or a bad investment. Do not buy into the idea that investments have to be something rare, exclusive, elusive, exciting or in a land far away. Some of the best investments are right in front of you, if you can’t see them it’s because you look at everything the way most everyone else does.
You can and should become rich and investing is one of your responsibilities with the money that comes under your control
2:14 Is real estate a good investment? 10:13 Should you cosign a student loan? 13:33 Why investing morally is important 15:08 How to set up your finances 18:01 Using policy cash value 26:05 Is oil a good investment? 27:23 Preparing for an investment
Resources: Life insurance policy sales and review https://mcfieinsurance.com/ Contact: Team@McFieInsurance.com | 702-660-7000
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Watch on YouTube: https://youtu.be/2fkdf7lJmMo
There are two kinds of debt, good debt and bad debt. Good debt is debt that gives you a financial advantage; tax benefits, better cash flow and the ability to take advantage of opportunity. Bad debt is debt that costs you opportunity, causes stressful cash flow issues and cripples you financially. In this episode we talk about how to payoff bad debt and how to use good debt to your advantage.
4:19 How to tell if a debt is good or bad 12:38 Snowball Method explained 14:00 The Avalanche Method 16:59 How to set up your finances 19:34 The largest amount of debt John has seen 27:34 Should student loans be paid off? 30:21 Is a mortgage a good debt?
Resources: Life insurance policy sales and review McFieInsurance.com Contact: Team@McfieInsurance.com | 702-660-7000
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Watch on: YouTube: https://youtu.be/vYrX3XA-DWk
The savings rate in the US has been going up a bit recently but it’s still lower than what it should be. Generally speaking, people aren’t saving enough money to have financial peace of mind. But when someone does save money there are a host of decisions to be made on how to keep that money.
In this podcast we talk all things savings, how to save money and where to keep money you have saved.
Resources: Life insurance policy sales and review McFieInsurance.com Contact: Team@mcfieinsurance.com | 702-660-7000
2:51 Where to save your money 6:24 The problem with saving plans 8:45 What to look for in a savings plan 16:25 How to set up your finances 27:00 Why premium financing isn't used much right now 28:31 Earning a 66% return in whole life insurance
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Watch On: YouTube: https://youtu.be/Mhw62bVjAf8
Becoming your own banker, the infinite banking concept, bank on yourself and other financial concepts promote the idea of using the life benefits of life insurance. Many people think life insurance is for when you die, that’s true, but you can also use life insurance while you’re still alive.
There are benefits to using life insurance as a financial tool that you cannot get with any other financial products. But the problem is there is good life insurance and bad life insurance and too many people who want good life insurance wind up getting bad life insurance.
We talk about good life insurance, bad life insurance and how to get a good life insurance policy with cash value so that you can be your own banker.
Resources: Life insurance policy sales and review McFieInsurance.com Contact: Team@mcfieinsurance.com | 702-660-7000
0:00 How to Be Your Own Banker 3:15 History of life insurance 5:38 Types of life insurance 7:09 The two types of life insurance 8:56 The origin of Buy Term, Invest the Difference 11:26 Term life insurance, universal life insurance, indexed universal life insurance (IUL) and whole life insurance 15:00 Reviewing an IUL policy 18:23 How to set up your finances 20:57 How to tell if a life insurance policy is good or bad 22:39 10/90 Infinite banking policy (IBC) 25:11 Guaranteed vs non-guaranteed values 30:13 The difference between cash value and death benefit
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Watch on Youtube: https://youtu.be/-sUT5xUCkbs
Throughout this year you will get to make financial decisions. If you make good financial decisions you will get ahead faster. In this podcast we will share knowledge that you can use to make good financial decisions.
Please go here and write a review for the Wealth Talks Podcast: https://podcasts.apple.com/us/podcast/wealth-talks/id978187163 –Thank you!
2:11 Financial metrics that confuse people 9:44 Ad Break @McFie-Insurance 15:58 The Trick to Kubota's 0% Financing 25:02 Tom & Michele's Camper
Resources: Life insurance policy sales and review McFieInsurance.com Contact: Team@mcfieinsurance.com | 702-660-7000
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Watch on: YouTube: https://youtu.be/Gw6hiKngqv0
The tragedy of financial resolutions is that resolutions often go unfulfilled. If you want to achieve something financially significant in a new year it is better to set a goal first and then make your resolutions.
0:00 The Tragedy of Financial Resolutions 1:13 Resolutions vs. Goals 4:25 What is a Goal? 10:32 Why specificity matters when setting goals 11:28 Why people don't set goals 14:20 Ad break @McFie-Insurance 25:00 When to celebrate a goal 27:40 Tips for setting goals in 2024
Resources: Buy good cash value life insurance or get a policy you owned reviewed: https://mcfieinsurance.com/ 702-660-7000 | team@mcfieinsurance.com
Follow along: Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA== Facebook: https://www.facebook.com/profile.php?id=61554798231074
Watch on: YouTube: https://youtu.be/aMiSv0StJQ8
In our family’s Christmas gift exchange this year we have a $20 limit. We drew names last month and the rules are that the drawing results are confidential and you can’t spend more than $20 on the gift you buy.
In this Bonus Christmas Podcast we discuss how putting a financial limit on our family gift exchange increases creativity.
0:00 Intro. 1:19 John's most memorable gift. 3:47 Why a financial limit on a gift exchange is useful. 12:15 When can a good gift be a bad gift? 15:13 John blows a train whistle. 15:56 Last minute Christmas gift ideas. 19:03 American inventions. 20:55 How to help children develop creativity.
Resources: The Wise Man Foolish Man card game, buy it here: https://amzn.to/41iOTGE A good train whistle :) if you're buying a gift for someone who loves trains: https://amzn.to/41xU6uA The book Michele bought Tom last year: https://amzn.to/3trwqv3
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Listen on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163 Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
We share our reasons for moving from Nevada to Indiana and the financial implications of switching houses.
We talk about: Buying our new house while selling our old house Our backup financing plan Why we paid cash for the new house God's timing Freedom and politics
Resources: The Wise Man Foolish Man card game, buy it here: https://amzn.to/41iOTGE
Follow along: Instagram: https://instagram.com/wealthtalkspodcast?igshid=YTQwZjQ0NmI0OA== Facebook: https://www.facebook.com/profile.php?id=61554798231074
Listen on: Youtube: https://www.youtube.com/channel/UCNxtmtcy-NGobVMvuO9sjBQ Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163 Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
Prior to moving from Nevada to Indiana we took a life insurance policy loan and let that money sit in our checking account because we expected to have some "unexpected" moving expenses. The money sitting in our checking account was our cash cushion.
We talk about the "unexpected" expenses that arose 02:34 Video footage of our moving caravan How we paid for those unexpected expenses to recover our capital sooner The best place to keep a cash cushion How to build a cash cushion and How to replenish a cash cushion
Moving is one scenario that illustrates the importance of having a cash cushion but there are other scenarios where having a cash cushion gives you freedom, and peace of mind. What scenario can you think of where it would be helpful to have a cash cushion?
Resources For you: The Wise Man Foolish Man card game, buy it here: https://amzn.to/41iOTGE
Follow along: Instagram: https://instagram.com/wealthtalkspodcast Facebook: https://www.facebook.com/profile.php YouTube: https://www.youtube.com/@wealthtalkspodcast558/videos
Recessions occur throughout history fairly regularly. Governments often attempt to prevent them from happening, and while these efforts may temporarily delay a recession, they can’t prevent one. Since we can expect to see multiple recessions throughout our lifetime, it’s wise to be prepared. In today’s episode, find three things you can do to prepare for the next recession.
Resources:
Wise Man Foolish Man Card Game – Amazon.com
A Biblical Guide to Personal Finance
Many people want to accomplish more than the status quo in life, and they see money as a means to the end. Money is an important tool, but sadly, some pursue money without a basic understanding of how it works and what it can and cannot do. These people often end up hurting themselves instead of making their lives better.
Resources: A Biblical Guide to Personal Finance
Scare tactics are often used to coerce others into taking a desired action. These tactics attack the victim emotionally, causing them to react very differently than they might if they logically analyzed the situation. A critical first step to surviving financially is being able to think through and around scare tactics. This podcast will help you prepare mentally, so you can avoid becoming a victim. Listen Now.
Resources: A Biblical Guide to Personal Finance
Remember the old saw “Never judge a book by it’s cover”? This proverb cautions against making judgments based only upon outward appearances. Appearances can be a good indication, but basing a decision solely upon them can lead to serious consequences. In today’s episode, find out how appearances did us in... or was it interstate 40? You decide.
Resources: A Biblical Guide to Personal Finance
Remember the old saw “Never judge a book by it’s cover”? This proverb cautions against making judgments based only upon outward appearances. Appearances can be a good indication, but basing a decision solely upon them can lead to serious consequences. In today’s episode, find out how appearances did us in... or was it interstate 40? You decide.
Resources: A Biblical Guide to Personal Finance
Remember the old saw “Never judge a book by it’s cover”? This proverb cautions against making judgments based only upon outward appearances. Appearances can be a good indication, but basing a decision solely upon them can lead to serious consequences. In today’s episode, find out how appearances did us in... or was it interstate 40? You decide.
Resources: A Biblical Guide to Personal Finance
Many Americans are living paycheck to paycheck, but times are not getting any easier financially, so it’s time to break this cycle now because it will only get more painful to do it later.
We know people who are living paycheck to paycheck whether they make a low income or hundreds of thousands every year. The size of your income doesn’t always matter, but financial principles always do. Sometimes you can cut expenses, and other times you can think more creatively about additional income too.
Many times, you just have to step away from all of life’s craziness, get in a corner by yourself with pad of paper and THINK about where you are, where you really want to go and how you can make adjustments to get there.
A Biblical Guide to Personal Finance has additional tips and principal about financial stewardship which will help you on your journey to financial stability and success.
You can order a copy of the book Biblical Guide to Personal Finance Here
A lot of people are living alone and whether they realize it or not, living alone has a cost. This isn’t just regarding whether you are married or single, some people are financially all alone. Banding together with a group of like-minded individuals can help you big time financially. Don’t go alone! Listen to this episode of Wealth Talks.
Regardless of what the government or media might claim, for many Americans, life is getting worse.
As government overreach continues to destroy the private market, things are becoming more expensive and even unavailable.
In this episode, find out what happened to insurance in California and discover a way you could save big with an alternative solution to health insurance.
We aren’t against 401Ks or IRAs, we are against the idea that people need to trust an expert to manage their money.
A lot of people go with a 401K or IRA because some expert told them to, or because everyone else is doing it. But it’s your money, you are the most qualified person to manage it, and ultimately you are responsible for any gains or losses.
So don’t just trust an expert or go with the flow, think for yourself, find the truth and the truth will set you free.
Bad economies rear their ugly head fairly regularly, and while they cause damage to almost everyone, the hardest hit are those who haven’t prepared, or don’t know how to prepare for hard times.
When the economy is booming, it’s easy to think you have everything figured out financially, but during a downturn you better have your ducks in a row, or it could take you under.
Listening to the wrong people can mess you up financially. You are in control of your own finances, and while people may offer advice on how to handle them, it’s up to you to determine whether their advice is good or bad.
After all, you’re the one who must live with the results.
Today on Wealth Talks, you’ll discover a way some people can save on taxes. Will this way work for you? Maybe, maybe not.
Get the details and then you decide.
There are two emotions largely responsible for controlling human behavior.
Fear and Greed.
Whether it be the headlines of yester year predicting a coming ice age, the global warming crisis of today, or something else, fear mongers have shrewd ways of making people react.
Greed is another detrimental emotion, and interestingly, with so many people putting themselves first, our society is less happy and more depressed than ever.
On today’s episode, Tom, Michele, and John talk about these two powerful emotions... Fear and Greed.
Life insurance equity is a great tool which can be used to finance expenses and investments throughout life.
Some people try and rush the equity building process, but because they don’t understand how life insurance works, they may wind up buying an inferior policy or impatiently give up on the entire idea. But when you understand the process you’ll know it’s important to “crawl before you walk.”
Understand why life insurance is a good financial tool so you know the process and can have confidence in the results.
Resources:
How to Build Sustainable Wealth
Left, right, fast, slow, yes, no. Uncertainty is uncomfortable, stressful and can even be paralyzing.
Life is filled with uncertainty. It is critically important we understand how to recognize and deal with the stresses of uncertainty to prevent them from becoming paralyzing.
Resources:
Winning Your Financial Game
412(e)(3) plans are fully insured retirement plans. This type of plan is not dependent on market performance, it is based on the guarantees of whole life insurance and annuities. Not only does this take the guesswork and market dangers out of retirement planning, it can also save you a lot on taxes today.
But 412(e)(3) plans will only work well in some situations. Do they make sense for you? Find out on Wealth Talks.
Resources:
A Biblical Guide to Personal Finance
Stress can wear you out. Not only does stress damage your physical health, it affects your decision making ability leading to poor decisions and sometimes to an incapability to make any decision at all.
We can’t avoid stressful situations. But with better planning, we can reduce them. Find out how on Wealth Talks.
Resource:
How Life Insurance Works - Video
Are you looking to make a good investment? A great investment? What about the best investment ever? Financial speaking, whole life insurance is not an investment, it is an asset. But many of our clients say purchasing well designed whole life insurance is the best “investment” they’ve ever made.
Resources:
A Biblical Guide to Personal Finance
Trusting the wrong people can really mess you up, but you do have to trust people. So, who are you going to trust and how far will you trust them?
This is an area where you want to be careful to have confidence! Listen now to the latest episode of Wealth Talks.
Resources:
A Biblical Guide to Personal Finance
If you are playing the game of life, you better know the rules, because things can happen quickly! What might have been a logical move in the past may be a terrible move now. Life is constantly changing, but if we understand the basic rules, we can play the game and have fun!
Resources:
A Biblical Guide to Personal Finance
Have you ever bought something you thought was nice only to find out... it’s not the real deal? Almost every good item has knockoffs, and many people get suckered into buying them. It’s a terrible feeling, but it happens. Do you have the discernment necessary to keep from getting suckered financially? Listen now to Wealth Talks.
Resources:
A Biblical Guide to Personal Finance
How Life Insurance Works - Video
Buying a home is the biggest investment many Americans ever make, fortunately homebuying advice is as abundant as zucchini in July. Many advocate extra mortgage payments to pay everything off as quickly as possible. Others staunchly declare you should never make an extra mortgage payment.
What should you do? Listen now on Wealth Talks
Resources: A Biblical Guide to Personal Finance
Becoming wealthy isn’t something which happens to anyone. It is the result of careful planning, wise choices, and definite
actions.
If you really want to become wealthy and are willing to put in the work, this podcast is for you. Listen here on Wealth
Talks.
Resources:
A Biblical Guide to Personal Finance
Winning Your Financial GAME
Making large financial decisions can be difficult. It’s one thing to analyze the facts once you have them, but sorting through countless opinions looking for facts can be exhausting and overwhelming.
Instead of researching every financial decision, some people like to find a person or expert they mostly agree with, or believe is knowledgeable, and follow their every advice. This may seem easier at first, but often it leads to major financial problems.
Resource Links:
A Biblical Guide to Personal Finance
Over the last few years things happened in our nation like we’d never seen before. Almost overnight industry stopped, businesses shuttered their doors, shopping centers were empty, and highways deserted. What started out as a temporary 2 week pause dragged on and on. And suddenly the possibility of losing one’s job became very real for many people. What would happen to you and your family if you lost your income? Are you prepared financially? Listen now to Wealth Talks.
Resource Links:
A Biblical Guide to Personal Finance
What started out as a strange new game in the 1960s, the result of a lost shuttlecock on a family vacation, has suddenly caught on. Pickleball is rapidly growing across America as many people try the sport and then find they can’t stop playing. If you’ve never played, you might find this hard to believe, but pickleball principles can help you financially too! Listen now on Wealth Talks.
The robbers didn’t kick the door in, bust the safe or leave fingerprints on the entry way table, they didn’t break the windows, damage furniture or rip out the TVs. Inflation is such a clever thief, many people never realize they are systematically being stolen from. If you don’t know this about inflation, you owe it to yourself. Listen to this episode now.
Resource Links:
A Biblical Guide to Personal Finance
Many people base their actions on an ever-changing perception of reality instead of time-tested truth. But the Bible tells us that “whatever a man sows, this he will also reap.”
Only 43% of Americans today say they believe money is important. As Zig Ziglar pointed out, the other 57% “will probably lie about other things too.” Money is important, and the exchange of money is more important than the form/type of money because the exchange of money expresses and can even magnify your underlying values.
But many aspects of the financial system we live in today are based on perception rather than fact, and this creates some problems.
Listen for tips on what you can do to base your own actions and preparations on a deep foundation of truth and reality despite various illusions we perceive.
Resource Links:
A Biblical Guide to Personal Finance
With all the investment, hedging and saving options we have in today’s world, is there any need for whole life insurance? Whole life insurance has been around for a long time and some may argue it is outdated. In today’s episode, find 10 things you could do with your money instead of buying whole life insurance.
Resource Links:
Winning Your Financial GAME
A Biblical Guide to Personal Finance
Bank failures often have a ripple effect, when one big bank goes, a bunch of smaller ones often walk off the cliff too. Are bank failures good for the economy? They may make for nice executive bonuses at JP Morgan, but what about the rest of Americans? Hear more about bank failures and what they mean for you on Wealth Talks. Listen Now.
Resources
The Perils of Banking and How to Avoid Them - Video
A Biblical Guide to Personal Finance
If you die in some unnatural, extreme way many people will hear about it. Falling over the Grand Canyon railing and slithering to your fate will probably get you an honorable mention in a news story. Getting killed in the crossfire of two rival gangs may earn you a national news spot for several days.
But what about those who don’t die glamorous deaths? What will the people we love remember us for?
Resource Links:
Subscribe for Vlog updates on the McFie family visit to Wall Builders museum May 26-28th 2023
Money issues are the most cited source for divorce. Yet, even with such dire consequences, 49% of Americans admit they have lied to their partner about money. Having the correct attitude towards money is critical when building a relationship. What role should money have in a relationship? Find out on Wealth Talks.
Prescription for Wealth
A Biblical Guide to Personal Finance
In our rapidly changing era, saving and preparing for tomorrow has never been more important. But saving in today’s world can be difficult, especially where cost of living is high such as in New York or San Francisco, or when a market swing could wipe out a lot of your savings. Today on WealthTalks – hear the tips and principles you need to save in a way that can build sustainable wealth for your future.
Resources 10-20-70 Worksheet, Life Benefits Store, WealthTalks.com
When the Infinite Banking Concept (IBC) was first discovered, many insurance companies were fine with their agents selling policies designed for IBC. Some even went out of their way to recruit such agents. But this favor seems to be souring.
Recently Mass Mutual, one of the largest insurance companies, stated they may terminate agents who practice IBC.
What happened?
New Book - Biblical Guide to Personal Finance
“You can beat him, you can cheat him, you can treat him bad and leave him...” Queen explained in their hit song Another One Bites the Dust. A lot of dust gets thrown around in the insurance ring, sometimes by ignorant agents, but often by greedy agents looking only to earn a commission. While the dust makes things difficult, you don’t have to bite it. PLEASE! Don’t bite the dust! Listen now on Wealth Talks.
New Book - Biblical Guide to Personal Finance
Why do you go to work? Why do you help other people? Why do you save money for the future? Do you work only to finance a lifestyle, or establish a comfortable retirement? Do you help people only because you are “giving back”? What is the force which drives you? What is your why?
New Book - Biblical Guide to Personal Finance
What is fungibility? Is it mildew? Is it mushrooms? Is it the blue green spores growing on the 3-week-old half sandwich at the back of the fridge? Or perhaps the whiteish green carpet spreading over the curiously deformed orange at the supermarket? Actually, fungibility has a lot to do with money and finance. Find out all about fungibility on Wealth Talks.
Video: Velocity of Money example
New Book - Biblical Guide to Personal Finance
We just watched two big banks fail - Silicon Valley Bank (SVB) and Signature. Bank failures happen quite frequently, but the failure of SVB and Signature heralded the largest bank failures since 2007-08.
With the failure of these banks, one may wonder how safe life insurance companies are. What happens when an insurance company goes broke like AIG did in 2008? Find out on Wealth Talks.
We’ve been gaslighted a lot by our government over the last few years. Remember how often we were told “Follow the Science” or “Don’t question the Science”?
Of course, questioning the science should only improve the science, but this can also be dangerous as Galileo discovered with his famous experiment, for which he was persecuted.
This can happen in other areas of life too, even when it comes to financial promotions. Getting gaslighted or even ghosted are part of life and this won’t be changing anytime soon. When you tune your discernment to pick up reality from noise, then you can make decisions to improve your life and your financial results.
Many people don’t understand how much they need life insurance. Many people are pitifully under insured while some don’t have any insurance at all! Forget about the many living benefits life insurance can provide, the death benefit of a life insurance policy can make all the difference in the world to the ones left behind when someone passes. In this episode, find out how much you need life insurance, not for yourself, for the ones you love.
Would you use your cash value to become a pilot? Start a business? Buy a vacation home? What would you do if your home was flooded? Or if someone drove through your front window? Or if you lost your income and couldn’t make the car payment?
In this episode, find out how our clients use their cash value to take advantage of opportunities, or face financial difficulties.
Some people only have life insurance to provide a death benefit. Many of them never realize life insurance can provide benefits while they are still living. This is sad because using the life benefits of a policy could make their life so much better and more enjoyable, while still providing a death benefit for their loved ones when they pass. In this episode, you will discover the life benefits of life insurance, and how to use them.
Resources:
Time Value of Money - Policy Loan Financing Example How Life Insurance Works - YouTube video with Gracine McFie Winning Your Financial GAME book & study guide
Just because marketing doesn’t discuss the dangers of a product doesn’t mean there are none. The strong, tough Marlboro man advertisements certainly didn’t portray the sufferings many smokers experience in later years, but this does not mean smokers who exclusively smoke Marlboro products will escape these sufferings.
Some life insurance products have hidden dangers too. Hear more about the dangers of indexed universal life insurance today on Wealth Talks.
Many people aren’t aware they can get a higher social security payment in retirement. Depending how you file, you may be able to increase your social security benefits by 8% a year (up to 32%/year overall) when you delay taking benefits beyond full retirement age. But as they say, the devil is in the details. Does filing this way make good financial sense? What are some ways you can start preparing now to be able to maximize your social security benefits when you get to your golden years? Find out today on Wealth Talks.
Does steak actually cost more when it goes on sale? When you save money are you actually losing it? What does time value of money mean anyway? Today on Wealth Talks, Tom, Michele and John are in the studio to talk about the time value of money and how it works.
Overpaying taxes is often seen as a smart strategy. Not only does it keep you out of trouble with the IRS, it’s also a nice surprise to get the refund check in the mail. But overpaying taxes may hurt you financially because of lost opportunity. Find out why on Wealth Talks.
IUL has been the shiny yet dangerous toy in the insurance world for some time. Having enjoyed a period of wild popularity, IUL is starting to come under attack. Although many have spoken out against IUL including Forbes and the Center for Economic Justice, insurance companies are still pushing IUL hard. Why? Find out on the latest episode of Wealth Talks!
Elaborate plans and complex formulas sound grand and can even make great sense. But simple is usually easier and if it’s easy, it tends to get done. In this episode you will learn about the 10-20-70 rule, one of the simplest and best financial formula we’ve ever found. Listen Now!
Resources: Life Benefits Store
Many people set new goals for the new year, but sadly, many people will never make those goals because of poor planning, or even worse, no plan at all. Do you have a good financial plan? This is an episode you will probably find useful as you make plans for 2023. You’ll also hear about the trouble we ran into on the hunt in late October.
Resources: Life Benefits Store
Researchers estimate raising a child will cost you 225,000 dollars! This cost does not include any private education, or a college degree... perhaps it isn’t surprising that Americans are having less children. But does raising a child really cost $225,000? Tom and Michele McFie have raised 8 children and they don’t agree with this research. Listen to the episode now.
It is a strange fact that those in power will often destroy the people who put them into power. A recent example is the EAGLE act which will likely destroy the jobs and opportunities of many who voted for the current administration. Strange. Sadly, we see the same sort of sabotage happening in other areas of life too, even coming from executives undermining the confidence of their customers.
But when you know what to look for, it becomes easier to avoid the bad options and choose good products which are still available. This is certainly true when it comes to life insurance.
401Ks, ESGs, Pensions plans, and Life Insurance are all things you probably know of, but there are some unpleasant surprises associated with many of them which you need to be aware of. Listen now to find out about these surprises and how to protect yourself against them, and also a shocking study about America’s financial literacy.
Many Americans wake up in a bad mood. Researchers estimate the average American will wake up in a bad mood 300 days every year. How terrible! What could be causing this? Today on Wealth Talks, Tom and John discuss something they see behind American’s bad moods.
Resources: Understanding the Infinite Banking Concept - PDF, Winning Your Financial Game – Book and Study Guide
Skyscrapers, bridges, and nations are all built on foundations. A good foundation will last for many years but, if not maintained, it will eventually crumble. Today, Tom and Michele McFie discuss America’s foundation, it’s dangerous condition and our duty to maintain it.
It’s more fun to talk about a bomb exploding in the middle east than a local road the city plans to build through a quiet neighborhood. Why? Because sensationalism sells! Just because sensationalism is being sold doesn’t mean we should buy it.
Today on Wealth Talks, Tom and John discuss the perils of buying sensationalism.
Resource: Wealth Seminar Recording
There are many false teachings about life insurance. Some attempt to portray life insurance as a terrible product, while others attempt to make it magical. Sadly, many false teachings seem logical, which makes them even more dangerous. Today on Wealth Talks, Tom and John discuss some of the false teachings about life insurance (you’ve probably heard of them).
Resource: Wealth Seminar Recording , Dividends Explained with Dan Foley
Should you buy Term Insurance? Whole life? Universal life? Which is the cheapest? What type is the best? Should you buy insurance as soon as possible? Or wait until you’re older? Should you own different types of life insurance at different points in your life? Find out on Wealth Talks!
Resource: Wealth Seminar Recording
As a nation we are in bad shape. Inflation is climbing, environmental “concerns” threaten our staggering economy and global elites seem to be planning the overthrow of the middle class. Is there anything we can do to fight back? Or is this the end of the line? On today’s episode, learn what you can do to fight back!
Resources: Wealth Seminar Recording
Each year several banks go broke, but, comparatively, few life insurance companies become insolvent. Today on Wealth Talks, Tom and John look at the way life insurance companies are structured to provide such stability. But wait! What about AIG? In this episode you will discover what went wrong at AIG and what ultimately happened to the policy holders.
Resources: Wealth Seminar Recording
Federal pension plans have been in disarray for some time, but now, state pension plans are running into trouble as well... 8 trillion dollars of trouble. Only two states are left in America with adequately funded pension plans, and the economic decline may be affecting these soon. What do Tom and John think about this? Find out on Wealth Talks.
Resources: Wealth Seminar Recording
Inflation punishes people for saving by stealing the value out of their money. With inflation this bad, many people are saving less, have stopped saving or are even spending their savings. Some of this is doubtless due to rising prices, but it is hard to save when your being punished for it. Is it still a good idea to save? Find out what Tom and John think on Wealth Talks.
Resources: Wealth Seminar Recording: https://www.life-benefits.com/store/
Inflation punishes people for saving by stealing the value out of their money. With inflation this bad, many people are saving less, have stopped saving or are even spending their savings. Some of this is doubtless due to rising prices, but it is hard to save when your being punished for it. Is it still a good idea to save? Find out what Tom and John think on Wealth Talks.
Resources: Wealth Seminar Recording: https://www.life-benefits.com/store/
Many people buy fire insurance but never have a fire. Many people buy car insurance and never get in an accident. Many people have medical insurance they don’t use. But today, on Wealth Talks, John and Michele discuss one type of insurance everyone will use at some time. Listen on Wealth Talks.
Many people buy fire insurance but never have a fire. Many people buy car insurance and never get in an accident. Many people have medical insurance they don’t use. But today, on Wealth Talks, John and Michele discuss one type of insurance everyone will use at some time. Listen on Wealth Talks.
Fear and greed are called the two big motivators in this world, but they won’t help you build a strong and sustainable financial future. Today on Wealth Talks, Tom and John discuss the mindset you need to have to build a successful financial future. Listen Now!
Fear and greed are called the two big motivators in this world, but they won’t help you build a strong and sustainable financial future. Today on Wealth Talks, Tom and John discuss the mindset you need to have to build a successful financial future. Listen Now!
Socialism is supposed to be where everyone shares with other people. The needy are taken care of by those who have an abundance, everything is fair, equal, just, and the sun sets in a golden glow over the ocean every night. Sounds nice!
Socialism has been tried many times, and it hasn’t worked. But could it? Listen now on Wealth Talks.
Resources: Livestream and in-person registration; https://www.life-benefits.com/wealth-seminar/?inf_contact_key=6d62f9b9e07dd9e55b77ab13cf56715d680f8914173f9191b1c0223e68310bb1
Socialism is supposed to be where everyone shares with other people. The needy are taken care of by those who have an abundance, everything is fair, equal, just, and the sun sets in a golden glow over the ocean every night. Sounds nice!
Socialism has been tried many times, and it hasn’t worked. But could it? Listen now on Wealth Talks.
Resources: Livestream and in-person registration; https://www.life-benefits.com/wealth-seminar/?inf_contact_key=6d62f9b9e07dd9e55b77ab13cf56715d680f8914173f9191b1c0223e68310bb1
Sticks and stones may break my bones, but words can never hurt me. Today on Wealth Talks, Tom and John discuss this age-old children’s rhyme, and how it is still very relevant even in the “grown-up” world.
Also, there is something happening in Las Vegas you should probably know about. Listen now!
Resources: Register here: https://www.life-benefits.com/wealth-seminar/ Livestream option can be selected in the checkout process.
Turns out, winning is easy... if you keep changing the goal posts! Our government is reeling the goal posts in with an electric winch in overdrive! Gas prices have risen 117% in 18 months, but the “official” percentage is only 46%. Our economy isn’t in recession... but only because they changed the definition of “recession”.
Today Tom and John are back in the studio to unpack everything. You don’t want to miss this episode.
Resources: Click here: https://www.life-benefits.com/wealth-seminar/?utm_source=wealthtalks&utm_medium=podcast&utm_campaign=381 to register for the Wealth Seminar (if you are unable to purchase tickets, the seminar is already full).
Getting rich is something a lot of people want to do. But there are startling consequences along the way which many people overlook. Have you considered the consequences of getting rich?
Tom and John are back on Wealth Talks discussing some of the startling dangers on the way to riches.
Resources: Click here to register for the Wealth Seminar (if you are unable to purchase tickets, the seminar is already full).
https://www.life-benefits.com/wealth-seminar/?utm_source=wealthtalks&utm_medium=podcast&utm_campaign=381
Getting rich quick is simple. All you do is bet big and never lose at poker. Simple, straightforward, and statistically impossible. Simple doesn’t mean easy. There are numerous such half-baked plans and schemes for getting rich quick, some people even believe life insurance is the method with which one can get rich quick.
We love life insurance, but it’s not a get rich quick formula. Today on Wealth Talks, Tom and John discuss what life insurance can do for you.
Resources:Fri-Sat Wealth Seminar in Las Vegas
Ice cream containers are getting smaller, and the price is rising. Is this inflation? It's now called shrinkflation!
No matter what cutesy name inflation may masquerade under, it’s still inflation and can hurt you financially.
Today Tom and John discuss inflation, how we can appoint better politicians, and something happening in September (you are invited).
Resources:Fri-Sat Wealth Seminar in Las Vegas: https://www.life-benefits.com/wealth-seminar/?utm_source=wealthtalks&utm_medium=podcast&utm_campaign=inflation
If you need something messed up, call a politician, they’re pretty good at it. Almost every economic problem we have today can be correlated to some stupid something a politician decided to do.
On today’s episode you’ll hear about a lot of stupid things politicians have done with what disastrous results. And you’ll also find out what we can do regain control of our own economics.
Resources: Wealth Seminar: https://www.life-benefits.com/wealth-seminar/
Supply and demand have been regulating goods and prices for a long time and, when left alone, they do a very good job. But some people abuse supply and demand quite badly. When this happens, it mixes up the economy for everyone.
How does supply and demand work? How is it abused? Listen in on Wealth Talks as Tom and John discuss supply and demand, how the elites try to manipulate it and what you can do to introduce a more balanced perspective on a personal level.
Watching our economy is like watching a car hurtling down the interstate at 104 mph with 5% tread left on three tires, a bent rear axle and a spare rated for 45 on the front right... something is going to happen... but what?
Today, Tom and John discuss what they foresee happening and what we should do to prepare.
Resources: How to Build Sustainable Wealth
Our country is in trouble. Gas prices are at unprecedented highs, criminals go unpunished and gross corruption seems to be the only requirement for holding public office.
America is almost to the 250-year mark at which, historically, many nations have fallen. Will America survive? Should we just blow everything up and start over? Or can we still save America?
Rick Green, former Texas representative, national speaker and founder of Patriot Academy, has the answers to these questions. Don’t miss this episode. Listen Now!
Resources: Patriot Academy: https://www.patriotacademy.com/, Become a Constitution Coach: https://coach.patriotacademy.com/constitutioncoach/
Biblical Citizenship: https://coach.patriotacademy.com/biblicalcitizenship/
The American system of government based upon “the Laws of Nature and Nature’s God”, has facilitated the largest burst of creativity, wealth production and accumulation in all human history.
Within this system there is always conflict between extremes which tends to find a working balance in different ways at different times. When a viable balance is achieved during the struggle for equilibrium, human energy is harnessed in amazing ways resulting in remarkable production of wealth. When an extreme human-created ideology prevails on either end of a spectrum, wealth tends to be suppressed and even destroyed.
Of course, not all struggles are political in nature. Some take place within the financial world, within specific industries or even within a religion. Some issues carry widespread implications while others are more local in nature.
It helps to recognize that extremists tend toward chaos and tyranny, but a balanced perspective creates an environment of greater freedom which is exactly the recipe needed for growing and protecting wealth at a personal/family level.
Some issues are obviously macro-level, which no one person can change overnight; but many small decisions can be made at an individual level to help your own life more become balanced and effective as well as assisting the pendulum to swing the appropriate way at the macro level.
Resources: History of Money and Banking documentary: https://www.life-benefits.com/store-detail/#history-mb
The percentage of people who own life insurance has been dropping big time. Fewer and fewer people understand the importance of being insured. This is too bad, because, while life insurance does help maintain the quality of life for people you love when you pass, life insurance can also increase the quality of your life while you are living.
On today’s episode, Tom and John discuss why they think life insurance ownership is dropping, and how life insurance can help you save money.
Resources: How to Build Sustainable Wealth: https://www.life-benefits.com/store/
We live in a world that too often blurs important distinctions between fact and feeling so far it becomes easy to question the existence of the fact. But behind this facade, you can recognize the unflattering lawyer's adage - if the facts are on your side argue the facts, if the law is on your side argue the law, if neither is on your side then change the subject and question the motives or attack the character of the opposition. We may ignore certain facts for a time but we cannot ignore the results of following a bad ideology based on wishful thinking. Following an ideology that welcomes and works with facts is key to building sustainable wealth. Resource Link: Order the book Winning Your Financial GAME: https://www.life-benefits.com/store-detail#WinningYFG
There are many legal ways to save on taxes, but there are also a lot of dangerous tax schemes. You can smell some tax schemes from a mile away, but others are more subtle – these are the ones that can get good people into trouble.
Let’s face it, everyone wants to save on taxes, but nobody wants to get in trouble with the IRS.
Today on Wealth Talks, Tom and John are joined by Jack Cohen CPA who served as an award-winning IRS auditor for 33 years before entering the private sector as a CPA.
Listen in as they discuss some of the latest tax schemes, how to stay out of trouble, and a relatively new strategy to save on taxes!
Resource Link: SALT Cap Workarounds Update: https://news.bloombergtax.com/tax-insights-and-commentary/salt-cap-workaround-pass-through-entity-tax-update-part-i
Ignorance and Stupidity, Greed and Fear will be some of your leading enemies when trying to achieve success of any kind – especially financial success.
Understanding the characteristics of these ailments can help you to identify and overcome them before they have time to impose the entirety of their destructive behavior and results in your life.
It’s been said that “man’s biggest enemy is ignorance”. It doesn’t seem this will be changing anytime soon, but the blueprint to overcoming ignorance and gaining success is relatively easy.
Resources: Find Books and other Educational Resources on the Life Benefits Store: https://www.life-benefits.com/store/
It’s a nice big word... but what is it, and is it relative to life? Cognitive Dissonance is the name for a common, if detrimental, human behavior phenomena.
Listen as Tom and John explain cognitive dissonance, and how you can respond to it in your life.
Resources: Winning Your Financial GAME, How to Build Sustainable Wealth
Interest rates are a vital part of our economy and can quickly turn a boom into a bust or vice versa.
Today, Tom and John tell you everything you need to know about the recent shift in interest rates, what they foresee happening to interest rates, and some ways to prepare for the coming changes.
Resources: Winning Your Financial GAME, Financial Class Recording
“Free Range” chicken is better than regular chicken... or is it? While it certainly commands a higher price over other birds at the grocery store, “Free Range” doesn’t mean what many people think it does.
“Free Range” isn’t the only misleading label... there are many others, and not just in the food industry. Don’t get taken-in by misleading labels! Listen now to Wealth Talks.
High cash value life insurance policies are often referred to as banks... but is this correct? Learn about what goes into the process of starting a bank and why this is important to you. Not only are there different practices on this topic, but there are
We can’t control the “what ifs” of life... but we can choose to live in faith. Faith for the future does not entail thinking raw positive thoughts or screaming “I am a hero” in the mirror. In fact, such raw positivity, unfounded on a solid base, leads to fear and frustration.
On Wealth Talks, join Tom and John as they discuss how to live with faith and balance for the future.
How should you manage your money? Is it a good idea to let an adviser or planner manage your money for you? Should you be concerned about getting the highest rate of return?
All this and more on the latest episode of Wealth Talks.
Why do so many airplanes crash after heavy maintenance (engine overhaul, etc.)? Why do cars sometimes have more problems when they come out of the shop? Why do patients become worse after surgery? Why are some people losing money even when their money is actively managed?
There is something to explain this phenomenon, it’s called “Maintenance Induced Failure.”
How much Maintenance is too much? Listen now on Wealth Talks!
Making money is one thing, keeping it is quite another! There are many places to keep money, IRA, 401K, 529 plan, etc., but where should you keep yours?
On today’s episode, Tom and John discuss some of the different places you can keep your money. Listen Now!
With the US dollar becoming more inflated, the question arises: Should I buy gold? Silver? What about crypto?
Drawing from history, Tom and John discuss some of the ramifications of monetary policy in this episode of Wealth Talks! Listen in to get their take on the whole gold/silver/crypto question.
Resources:
A History of Money and Banking – Documentary premier with the McFie family via Zoom on Wed March 23rd.
Email steven@life-benefits.com to request the Zoom link.
It wasn’t just the Beatles who talked about money in their song Can’t Buy Me Love. Money is a common thread which is evident throughout all of history and is a frequent subject throughout the Bible.
We are supposed to manage money... not the other way around. Today on Wealth Talks, Tom and John discuss some common problems they see when it comes to money management.
Resources: https://www.life-benefits.com/prescription-for-wealth-book/Prescription for Wealth – free download:
https://www.life-benefits.com/store/Prescription for Wealth - Paperback:
Constellation is in the process of a deal with Ohio National, a change which would turn Ohio National from a mutual company to a stock held company. How will this change their policies? Should you keep your existing Ohio National policies?
Today on Wealth Talks, Tom and John bring you some important points on what you want to know about Ohio National and the upcoming changes.
What does “paying up” a policy mean? Is it a good thing? What about using a term rider instead? What does FPUA mean?
Listen in as Tom and John answer these questions and discuss some things you’ll want to be aware of if you plan on “paying up” your policy.
Some people thrive in the spotlight of competition, while others feel threatened. Competition is often seen as a negative thing, but truly fair competition understood in the right spirit can be a great blessing especially as a long-term strategy.
The attitude with which we approach this subject makes a huge difference in how we treat an Employer, Customers, Competitors and even Family members. What may surprise you is that your attitude toward competition and getting money versus earning money may limit you more than anyone or anything else.
When it comes to managing money there is much more to the picture than the negative side of competition. Competing by the rules and with the right attitude is a great asset in your wealth-building endeavors
One of the great problems our nation faces today is the ingratitude of its citizens. Turns out, it is very easy to point out the wrongs and injustices committed by those who came before us.
Many times, we see those faults more keenly if we have an inclination to commit them ourselves. But it is also important, although, perhaps, not so easy, to remember and commend the good things they did.
Today on Wealth Talks, Tom and John discuss the pressing question, “Is America, with all its faults, still worth saving?”
The McFie family recently read a book together titled Oh, Money! Money! by Eleanor H. Porter and we highly recommended it.
Humans have an integral relationship with money, especially when you realize that the Hebrew word for the first man, Adam, is closely related to the Hebrew words both for blood and money.
In fact, the Bible mentions money about 140 times which is more than nearly any other subject. Obviously financial matters are important, especially if you want to follow the Biblical blueprint when it comes to managing your money wisely.
Rumor is an emotional roller-coaster which can prove embarrassing, painful, and costly. While it may be natural to react to a rumor, people who react to rumors often pay a price for their actions.
So how can one assess a rumor and respond rationally? Today on Wealth Talks, John is joined by Jesse McFie. Together they discuss rumors, and how to respond in a way that limits the negative impact on your finances and other life decisions.
Resources:
Life Benefit’s Store: https://www.life-benefits.com/store/
jessemcfie - Instagram: https://www.instagram.com/jessemcfie/
Why are people so infatuated with “giving back”? Why do some people settle for failure almost in the face of success? Why are some rashly confident?
On today’s episode, Tom and John discuss the imposter syndrome and the interesting behavior patterns it can cause.
Listen Now!
Resources:
How to Build Sustainable Wealth
There are many spider webs out there, not all of them are made by eight legged arthropods. Many are spun specifically to snare gullible, greedy or unaware humans.
It’s a dangerous time to be a fly... join Tom and John as they clear up some of these sticky webs on today’s episode.
Listen now!
Resources:
How to Build Sustainable Wealth
Politics have a BIG impact on what we do with our money. Laws, rules, and regulations restrict and penalize us depending on where we store and how we use our money, and taxes cut a chunk right off the top regardless.
But there is a financial tool left to us which is still, comparatively, free from restrictions and penalties. Find out more on Wealth Talks.
It isn’t often one spends $50,000 in a single day without previously intending to, but sometimes it happens. Todays on Wealth Talks you’ll hear the story and find out what “happened”.
Resources: Building a Secure Financial Foundation:https://www.life-benefits.com/videos/how-to-build-a-secure-financial-foundation/
@brothersfabshop - Instagram
The new year is almost here. Starting January 1st we often see more people outside, walking, jogging or running working on their “resolutions”. This usually lasts for a couple of weeks after which the people, as well as their resolutions perhaps, fade into obscurity.
Are these resolutions not merely confessions?
On today’s episode with special guest Ben McFie, you will learn how to make New Year’s goals which will last long after the first two weeks of January. Listen Now
Resources: Goal Setting with Tom Ziglar: https://s3-us-west-2.amazonaws.com/lifebenefits/Audio/Teleconferences/2017/Tom+Ziglar+Jan+2017.mp3
As excited as everyone seems around Christmas, a lot of people report experiencing “post-holiday blues”. Interestingly, over 40% of Americans go into debt to buy Christmas gifts. Might this new debt contribute to their post-holiday blues? We thought s
If you’ve been “around” in the insurance world, you’ve probably heard about a term rider.
It is quite common to see an insurance policy with a term rider attached, but this doesn’t mean it’s a good idea. In fact, many times, putting a term rider on a policy makes no sense at all.
Today on Wealth Talks, Tom and John discuss term riders and why they don’t often like them.
Resources:
Policy Class: https://www.life-benefits.com/store-detail#policy-class
Prescription for Wealth: https://www.life-benefits.com/prescription-for-wealth-book/
Taxes have been around for a very long time indeed. If we look at the history of taxes in the United States, we notice a curious phenomenon... taxes rarely decrease over time. For some reason, taxes tend to go up!
Guess what? They could be going up again! As cheerful as this may be to DC’ers, a few of us American citizens find this upsetting.
So, what should we do to ensure we don’t pay more in taxes than we must? Listen now on Wealth Talks.
Resources: How to Build Sustainable Wealth: https://www.life-benefits.com/store/
With college tuition increasing and student loans becoming a real problem, the question presents itself: Is college still worth it?
Many college students graduate and work jobs completely unrelated to their degree. But at least they are thousands of dollars in debt. That always makes the future seem bright!
Today on Wealth Talks, Tom and John take a hard look at college education. Is it necessary? Is it useful? Is it dangerous? Listen now on Wealth Talks.
There is a new rule pending approval which could dramatically change 401(k)s. If the ruling is approved, 401k plan managers, while choosing investments, will have to consider the ESG criteria (Environmental, Social and Governance factors) of investments for the plan. Generally speaking, fees on ESG funds are higher and there is some research which shows the ESG market may have already peaked.
Despite privately held beliefs on whether investments based on ESG criteria are generally better/worse than other investments, these factors, combined or individually, could hurt 401k balances.
Today on Wealth Talks, Tom and John discuss this problem and some ideas for working against a disintegrating status quo.
Resources: How to Build Sustainable Wealth: https://www.life-benefits.com/store/
Ever heard that? It seems to be a prevailing theme nowadays. Look to the experts. Don’t ask questions. Do what you’re told. Looking to the experts is fine but relying solely on them can be catastrophic. We have to exercise discretion and make our own decisions. Today on Wealth Talks, Tom and John discuss some of the core thought processes we need to have to be financially savvy.
We live in a world of lies. This isn’t anything new or unique to this time in history. We’ve been living in a world of lies for a long time. So, who should we trust? The government? Yeah, not us either. On today’s episode, Tom and John share what we need to know to survive in our “world of lies”.
Resources: Relative Truth is No Truth - Podcast
Understanding Different World Views - Interview with Krish Dhanam
Taxing the rich is a topic many elected officials harp on with a religious zeal. Despite their moral high tone, taxes on the rich seem to do more damage to the middle and lower classes. The income tax, supposedly to penalize rich tycoons, ended up being paid mostly by people other than the rich. Whoops! Guess it’s time for a new tax. Any suggestions for a name?
On today’s episode, Tom and John discuss how we can avoid getting squelched by taxes and inflation... it’s one of the few weapons we have left.
Resources
The Creature from Jekyll Island
Warning signs are supposed to offer us some degree of protection from the described danger. Yet a recent study shows they many have the opposite effect.
Trivial warnings abound everywhere... especially in California where even a cup of coffee has been found to cause cancer. Of course, just because there is a “warning” doesn’t mean it’s really dangerous.
The same holds true in the finance industry. Just because something is “qualified” or “preferred” doesn’t mean it’s the best place to invest your money. To grow your wealth, you must know how to assess the real danger, not just read the warnings.
Listen now on Wealth Talks.
Resources
Prescription For Wealth: https://www.life-benefits.com/store/
Taking a loan from a policy is easy, but there are questions that can arise.
Will taking a loan decrease my death benefit? Why does the insurance company charge interest? When should I pay off my policy loan?
This week, Tom and John answer all these questions and many more. Listen Now on Wealth Talks.
Resources
How to Build Sustainable Wealth: https://www.life-benefits.com/store/
Lots of people seem to be gung-ho on investing in the market. Whether they’re trying to make a lot or make a little, build their dream home or supplement social security. Sometimes these folks only know enough to be dangerous.
This episode is a chilling reminder as to how rough and unpredictable a road the market can be in reality.
And talking of social security. What’s might happen to this program? Tom and John share thoughts about this and discuss wealth killers such as fees, interest and taxes. Listen Now.
Resources
How to Build Sustainable Wealth: https://www.life-benefits.com/store/
Note: Investing information provided in this podcast is for educational purposes only. Life Benefits, LLC does not offer advisory or brokerage services, and does not recommend or advise investors to buy or sell particular securities.
America has been the face of benevolence for years. Has this benevolence contributed to the deterioration of America today?
It is good to be compassionate and sharing, but we need to make sure we are not giving away what we need to take care of our own responsibilities.
Listen in as Tom and John address the problem of benevolence and possible side-effects in your personal finances as well as at a cultural level.
Resources
Link to Seminar recording: https://www.life-benefits.com/store-detail/#sw-seminar
Link to Policy Class: https://www.life-benefits.com/store-detail/#policy-class
September 17-18th marked our first LIVE event since early 2020. It was wonderful! Seeing people in person, face to face, is something no Zoom conference can replace.
Today on Wealth Talks, Tom and John are joined by Michele. Together, they give you a brief synopsis of the event.
Resources: https://www.life-benefits.com/store-detail/#sw-seminar
Taxes are unpleasant, yet it is important to plan for them if one wants to pay as little as possible. Sadly, many people are planning in a way that will cost them in the long run.
Today, Tom and John are joined by special guest Martha Baker-Starr, a Certified Tax Coach™. Together, they talk about the importance of planning for taxes over the long term. Listen now on WealthTalks.
Contact: Martha@ProsperousStrategies.com or call 803-256-1083 ext 104
We put fences around our homes and locks on our doors to protect our physical property. But do we do anything to protect our intellectual property? Coca-Cola, MacDonald’s and Nike sure have, but what about us?
Intellectual property is extremely important and should be properly protected, but it’s tough to know how to do so. Should you file for a Copyright? Trademark? Patent? Even if you know which form of protection is right for you, filing with the US Government can be a real pain.
Today on Wealth Talks, Tom and John are joined by Attorney Mark Wright. Mr. Wright has an extensive history of protecting intellectual property across the private, corporate, and government sectors; from small businesses to Fortune 500 companies. Listen now to hear His insight on intellectual protection.
Resources: Attorney Mark Wright contact: info@wrightlawgroup.com
Average returns don’t mean actual returns. On the surface this doesn’t sound like it would be a huge issue. But it is. In addition, the benefit of a 401(k) tax deferral used to be estimated about 9%, but not anymore. And fees continue taking a steady told each year which erodes your compounding base. These factors, as well as liquidity issues and insufficient accumulation of funds in most plans are prompting people to save in other vehicles even if they continue to use a 401(k).
Many of those who speak about the evils of making money are the ones who aren’t making any.
Today on WealthTalks, Tom and John talk about why Earning money, as well as Keeping and Giving money, are so important to building and sustaining a strong society.
Make sure your children learn about the flow of money and value in meaningful ways as they grow up, so they can become more productive and creative as adults.
Interest is often seen as a negative thing, but is it? Many people confuse interest with usury, but the two are distinctly different.
Today on Wealth Talks, you will learn the difference between interest and usury, and how to use interest to your advantage.
Also, Tom and John share the next big thing they see coming in the financial world and what you can do to prepare.
Ready to take control of your money? Attend our upcoming LIVE event.
Sustainable Wealth and Investing Seminar Sept 17-18th
Was your question answered? A few weeks ago, Tom and John devoted an episode to answering questions from you, our listeners. But they didn’t get to all of them. This week, Tom and John are back to answer those questions.
Also, check out the details for our upcoming LIVE event.
Sustainable Wealth Seminar Sept 17-18th
Many people want to know… should they pay extra interest to their policies? This is not a simple yes or no question. The answer will vary based on few different factors, including how the policy was designed.
On this episode Tom and John dig into policy design and whether or not paying extra in interest make sense.
Sustainable Wealth Seminar Sept 17-18th: https://www.life-benefits.com/sustainable-wealth-seminar/
Tom and John are joined on Wealth Talks by Dr. Steve Hryszczuk.
Dr. Hryszczuk, a Life Benefits client for many years, has carefully managed his policies to successfully invest in real estate as well as financing other things in his life. Today, he shares the different ways he has been able to use his policies, as well as sharing some sound thinking for investing in real estate.
He sends 2 pictures of the foundations for the new Hryszczuk family home and writes...
Here’s a metaphor of how I view my WLI [whole life insurance]
It’s stable, predictable and always available.
Maybe not the most sexy part of my house, but without it the whole edifice will collapse.
Today’s episode is all about answering questions from you and others who listen to WealthTalks.
From questions about serving clients in different geographical locations, to strategy and policy design concepts – you all have some great questions. And we’re not done yet…more coming in a few weeks.
Do you have a question for Tom and John? Submit your question to: john@wealthtalks.com
Recently there was an agent who was claiming to help people with the Infinite Banking Concept. Instead, he was swindling them.
On today’s episode Tom and John break down this guy’s swindling setup, talk about scenarios which should have been red flags to his clients and what finally happened to the guy. They also share some practical financial tips which can help keep you from being conned.
Sustainable Wealth Seminar Sept 17-18th: https://www.life-benefits.com/sustainable-wealth-seminar/
People are outliving their money, leaving themselves broke in their retirement. It isn’t solely because they aren’t saving enough, it’s also because they are saving in the wrong places.
In today’s episode Tom and John assess the current retirement crisis to find out what went wrong. They also share details about our upcoming LIVE event which focuses on being Debt Free, Investing and Funding Retirement.
Sustainable Wealth Seminar Sept 17-18th: https://www.life-benefits.com/sustainable-wealth-seminar/
In 1993 Shawn Tully wrote an article in Fortune Magazine entitled The Real Key to Creating Wealth. The concept of Economic Value Added (EVA) which Tully described changed the way the corporate world looked at creating wealth.
While Tully’s article was directed towards the corporate world, the concept is relevant to personal finance as well.
Today on Wealth Talks, Tom and John discuss Tully’s article and how it can change your approach and success for building wealth.
If you have business partners or plan to enter a business with partners, this show is important for you. If one partner dies or needs to exit your venture, you need to be able to protect your assets and buy out the missing partner.
This show covers some general information about the different types of Buy-Sell agreements and how these agreements can be funded effectively.
You’ll discover:
- Three basic types of Buy-Sell agreements
- How they work
- Some downsides and benefits to various buy-sell structures
- Why life insurance is often used to fund buy-sell arrangements
If you have questions about structuring your buy-sell agreement, call Life Benefits at 702-660-7000.
10 years ago, Prescription for Wealth made its debut. This small book has stood the test of time, challenging the complex financial schemes of our day with simple truth.
Later books, Winning Your Financial Game, Retirement Curveball and Building Sustainable Wealth expound on the principles explained, in a nutshell, in Prescription for Wealth.
As simple as these principles are, they have drastically changed the financial well-being and lives of many who have put them into action.
Prescription for Wealth is available on Amazon: https://www.amazon.com/Prescription-Wealth-Why-Should-Rich/dp/0983475768/ref=sr_1_1?dchild=1&keywords=prescription+for+wealth&qid=1623703890&sr=8-1 and on the Life Benefits Store: https://www.life-benefits.com/store/
Order before Wednesday June 16, 2021 to receive in time for Father’s Day!
Resources:
Prescription for Wealth pdf download: https://www.life-benefits.com/prescription-for-wealth-book/
The step-up in basis or stepped-up basis allows property and businesses to be passed to the next generation without a tax on the appreciation.
Biden’s new tax plan depicts removing the step-up basis. Removal of the step-up basis will seriously jeopardize the financial legacy of many Americans.
Today on Wealth Talks, Tom and John discuss how we can prepare to leave a legacy in spite of this.
How to Build Sustainable Wealth – Get the book: https://www.life-benefits.com/store/
Poverty has always existed and always will. Despite the “War on Poverty” (the most monetarily expensive war), poverty rates in America have been steadily on the rise.
This should, perhaps, come as no surprise. Jesus Christ told us we would always have the poor among us, but that doesn’t mean we have to be one of them.
In today’s show, Tom and John discuss poverty and why it has become an obstacle to building sustainable wealth in America.
Resources:
5hr Financial Class – Get the Recording
Recently we’ve had a few Indexed Universal Life policy contracts come across our desk for review. As part of our review process, we calculated the cost of insurance in these policies and compared it to the cost of insurance in a Whole Life product of our design.
In today’s show, Tom and John look at how these costs match up. While Indexed Universal Life may be the trendiest type of insurance, it leaves a lot to be desired.
Resources:
Order How to Build Sustainable Wealth : https://www.life-benefits.com/store/
With possible changes to the tax code looming, it is likely life insurance will become an even more important planning tool for people who want to build and sustain generational wealth.
But there is a lot of negativity surrounding life insurance and those who sell it. Public opinion of life insurance salesmen is low, coming in just above that of used car salesmen.
But on today’s episode, Tom and John talk about celebrities who have much better opinions of life insurance. Some were even life insurance salesmen! Their names may surprise you!
Joe Biden is on record for stating “Americans will suffer under my administration”. Biden’s economic policies are threatening to turn out a lot like Jimmy Carter’s did in the 1970s. The good news is we can try to prepare for the future by looking at the past.
Interest rates under Carter were very high. But interest rates on policy loans, while higher than they are right now, were comparatively low. Those who recognized this, were able to borrow against their life insurance policies to capitalize on opportunities which came along. Of course, they could only borrow in proportion to how much they had put in.
Listen to the latest episode of Wealth Talks Now!
There is a fascinating history around governments and the way they deal with drugs. Hippocrates warned against the use of opium except for some medicinal purposes.
Yet by 1839 Great Britain was embroiled with China over the trade of opium. British ships were instructed to bring the finest opium back to England. Needless to say, this opium was not used for medicinal purposes.
So what does this have to do with Life Insurance? The fact is governments cannot stem the tide of culture and the way people think. Governments can use force, or impose penalties and taxes, but there are other forces at work on a deeper level. This is a foundation which shares a common ground when it comes to the value of using life insurance to build wealth.
Hear more on the show today.
Beyond the fact that Sam was from Tennessee, we are ignorant of much of his life… except that his cremation was the strangest sight the Northern Lights have ever seen.
While not as strange, perhaps, as Sam’s cremation, we see our fair share of “strange things done in the midnight sun by men who moil for gold”.
In this episode, Tom and John share some “strange things” about the Life Insurance Industry you’ll want to be aware of.
Contact Life Benefits to get a policy review at 702-660-7000
Cancel Culture isn’t anything new. Although the name has changed over the years the selfish ideas and beliefs behind it have remained the same.
Cancel Culture and Critical Theory thinking, a hideous blend of Marxism and Freudianism, is seriously endangering our Western Society.
Today on Wealth Talks, Tom and John discuss Cancel Culture and what we can do to guard against it.
World population is a major concern… but not in the way many people see it.
Anyone who has taken a flight across the US should realize that overpopulation is not even a remote problem. In fact, the biggest problem many countries are facing today is underpopulation.
Today on Wealth Talks, Tom and John talk about underpopulation and the grave danger it represents to the US.
Catch the show here.
There are two categories into which all Life Insurance products fall: Temporary and Permanent. In general, term products are classified as temporary insurance, while whole life and universal life products are classified as permanent.
It is important to understand how these different types of policies work when you wish to purchase the best type of Insurance.
Today on Wealth Talks, Tom and John break down how different policies perform so you can see what type of insurance is the best to own.
Listen Now.
How many times have you heard someone recite sentiments along these lines “It’ll be my kids’ problem by then”… implying that they will be dead and their kids will have to deal with the problem instead.
The lack of responsibility is shocking, and the results of this thinking are disastrous. We are all susceptible to this type of thinking.
Even Hezekiah one of the best kings of Israel was caught in this way of thinking. Although there was peace in Hezekiah’s day, the Israelites eventually became enslaved to the Babylonians.
Today on Wealth Talks, Tom and John discuss how to avoid this type of thinking, and how to leave a real and lasting legacy.
Listen Now!
Some people firmly believe in financing every expense in life with a policy loan. Others believe in financing only the larger expenses, and many don’t know what to believe. This is a controversial subject with an endless number of opinions.
While it is easy to be confused by the barrage of information available, following certain steps and keeping certain ideas in mind can simplify the decision process amazingly.
Today on WealthTalks, Tom and John discuss things you will want to be aware of when financing with a policy loan and some tips to deciding when a policy loan makes sense.
Listen Now
In American society, more and more people seem to be less interested in making any sort of commitment, preferring a quick and easy relationship. Those only seeking a relationship are typically absorbed with themselves, looking only for what they can get out of the relationship.
Commitments are very different. Those looking to make a commitment are interested in how they can help other people, and create a better life for those around them.
Today on Wealth Talks, Tom and John are joined by Michele McFie.
On todays show, they discuss the differences between people engaged in a commitment and those in a relationship… and how differently they make financial decisions.
Listen Now!
Ice cream containers are shrinking - again. It used to be common for ice cream to be sold in a half gallon cartons. Some years ago, cartons shrunk to 1.75 quarts and just recently many ice cream cartons shrank again to only 1.5 quarts.
Prices, however, did not shrink accordingly. Most prices stayed the same. This latest change is the equivalent of a 16.667% price increase.
Some people may blame the creamery, the carton manufacturer or even the grocery store for the increase in price. But the real blame lies elsewhere.
Today on WealthTalks, Tom and John talk about why ice cream containers are shrinking, and what we can do to keep our savings from shrinking as well.
Listen Now!
Gino Bartali was an Italian cyclist. Winning the Giro d'Italia in 1936 and 1937 and the prestigious Tour de France in 1938, Gino went on to win two more titles after the War, the Giro d’Italia in 1946 and the Tour de France in 1948.
But it wasn’t for any of these races that Gino became a hero, it was for his work in the Underground.
Under the guise of training, Gino carried papers all across Italy. These papers, meant to save the lives of Jews, would have meant death for Gino if they had been discovered. Gino was a true hero.
We have delivered seventeen death benefits to the families of true heroes. It doesn’t matter their profession, affluence, or education, those who have a plan to provide for those they leave behind are true heroes.
Resource: How to Build Sustainable Wealth: https://www.life-benefits.com/store-detail/#HTBSW
Buying a Whole Life Insurance policy is a lot like starting a business that is guaranteed to succeed. In a world where 90% of startup businesses fail, talking about guaranteed success seems strange - even perhaps a little fishy.
But when it comes to life insurance, you can indeed find sustainable guaranteed growth. Guaranteed growth may take more time than some investments, but the slow & steady approach is the same used by many large grocery stores, such as Walmart, Ralphs, Krogers, Piggly Wiggly etc.
In today’s episode, Tom and John discuss how these guarantees can work for you.
Listen Now
Paul “Bear” Bryant famously said “Offense sells tickets. Defense wins championships.” Many investment advisors today are hyper-focused on the offensive side of wealth building (investing).
Wealth building is just as much defense as it is offense. In today’s episode, Tom and John discuss how to get your Wealth Building defense running smoothly.
Resources:
Order Winning Your Financial GAME
Many people pursue money to their own misery. If they only had more money, they reason, they would be happy and contented. With this mindset, they will never be happy. They will either be poor and miserable, or they will be richly miserable.
Wealth, on the other hand, isn’t dependent on money. Money can be a part of wealth, but wealth is not a part of money!
Today on Wealth Talks Tom and John talk about money, the love of money, and wealth. Listen Now
Resources:
Order How to Build Sustainable Wealth Here: https://www.life-benefits.com/store/
Securities. The very name fills one with the sense of safety, conjuring up images of bank vaults, locked safes and armed guards.
Ironically, many so-called securities are not secure. In fact, most securities are risky.
…which brings up a question…are whole life insurance products considered securities? Do they share any similarities with securities?
On todays episode of WealthTalks, Tom and John talk about securities and why whole life insurance is different.
Listen Now
Morbid as it sounds, to get the greatest rate of return from a life insurance policy, you could pay the first premium and then die.
While we certainly don’t suggest this course of action, this method will undoubtably give you the greatest rate of return.
Put this way, the whole concept of “rate of return” seems a little silly. However, it’s easy to get caught up in the “what’s your rate of return” game.
Today on Wealth Talks, Tom and John talk about the benefits of Whole life Insurance, and why the “rate of return” is not top priority.
In the world around us, many people have confused wealth with money. Sadly, many pursue money, but never take the time to build wealth.
How do we build wealth, and how do we protect the wealth we build so as to leave an inheritance to our children’s children?
In today’s episode Tom and John explore building wealth through the window of faith, and how to protect the wealth we will leave behind.
Listen now
Resources: Building Sustainable Wealth
Many Americans have worked hard to further their children’s education. Sadly, many realize too late, that much of the so-called “education” was really indoctrination which may have ruined their children’s values. Many children graduate from College and University with far different values, morals, and viewpoints than those held by their parents.
Parents who are building a legacy may well think twice about allowing it to fall into the hands of their altered children because more money could amplify their destruction. Fortunately, there are ways to control how your children receive your legacy after you pass on.
During this show, Tom and John will talk about some ways to protect your legacy… and your children!
Listen Now
529 plans are touted as a way to save for your children’s education. But saving money in a 529 plan is a lot like sending your money to jail. Once your money is in a 529 plan you can’t use it for anything other than education. If you need to use that money for other purposes, you’ll pay a hefty penalty!
But there is a way to get money out of a 529 plan without paying a penalty. On this episode of Wealth Talks, Tom and John will explain how to do this.
Also on this episode: How to set your Financial New Year Resolutions in 2021
Resources:
How to Build Sustainable Wealth
Richest Man in Babylon
…until you hear this.
There is no question - paying off a mortgage early saves interest. But what will you be losing by paying off your mortgage early? It’s called Lost Opportunity. If you can simply earn 1.4% on the extra mortgage payments required to payoff a mortgage at 3.75% APR over 15 years rather than 30 years, then you can come out ahead of the interest you would save by making those extra payments. Just 1.4%. This return is completely possible with a basic guaranteed financial tool.
Considering all the facts in your situation, it might make sense to payoff a mortgage early, but please don’t make this decision before your hear the reasoning behind managing your money more effectively by NOT making extra payments. This could change the way you think about extra mortgage payments for the rest of your life.
Resoures
What You Need to Know About Velocity Banking
How to Build Sustainable Wealth - Get the Book
Queen was almost prophetic with their song… many Americans are biting the dust financially because they depended on financial planners who didn’t know the future. Of course the responsibility to take care of these people doesn’t fall on the financial planner, but rather on the client’s own children.
This leads to the sandwich generation, people who are taking care of both their parents and their children. This should not be happening in America… but it is. What can we do to keep our children from having to take care of us?
Today on WealthTalks, Tom and John talk about what we need to do to take care of our future. Listen Now
Resources: Order Tom's book - How to Build Sustainable Wealth
Velocity Banking is known by many different names among which are, the HELOC Strategy, the Australian Mortgage and the Mortgage Accelerator System. Basically it’s a system which claims to help you pay off your mortgage faster.
Names aside, what are the fundamentals of Velocity Banking? Does it work? Is it safe? Should you try it?… good questions.
On this episode of WealthTalks, Tom and John delve deep into the core philosophy of Velocity Banking to bring you the inside scoop.
Listen Now!
Resources:
MoneyTools.net
Read more about Velocity Banking
Many people will say a picture is worth a thousand words… but that’s likely because they have never read a well written book, or listened to a great speaker.
Krish Dhanam, a professional speaker who has spoken in 75 different countries across 6 different continents, has recently written two new books: Missives Mottos & Maxims, and Twilight.
Today, Krish Dhanam joins Tom and John on WealthTalks to share about these books and the reasons he wrote them.
Listen Now
Get the new books here:
Missives, Mottos & Maxims at SkyLifeSuccess.com
Twilight at MalaMinistries.org
Both books are also available on Amazon - Paperback and Kindle versions.
Depending on your state, open enrollment for health insurance runs from November 1st through December 15th.
Guest, Jesse Cheng from Take Command Health joins the show to share about using QSEHRAs (Qualified Small Employer Health Reimbursement Arrangements) and ICHRAs (Individual Coverage Health Reimbursement Arrangements) to provide tax-deductible benefits to employees in 2021 rather than trying to find + administering the right group health insurance plan for everyone in a company. HRAs do require some employer administration, but with the right platform this process becomes super easy.
Learn the basics of using HRAs as a way to fund a specific dollar amounts of tax-deductible health benefits for people in your company.
Resources:
Similar Interviews with Jack Hooper at Take Command Health
HRA options for Small Business Owners - Start here
The walls of Jerusalem were crumbling, just outside the Babylonian army was waiting to loot and burn the city and carry the Israelites into exile.
In the midst of this looming catastrophe, God told Jeremiah to buy land.
In such a time of crisis, why would God tell Jeremiah to buy land? Can this help us know how to act in today’s troubled times?
In this week’s episode, John is joined by Ben as they discuss this story, and how it applies to us today.
Listen Now
The Life Benefits Formula is this: (Work + Mutual Respect + Education) x Faith = Sustainable Wealth
In this week’s episode, Tom and John discuss each component of The Life Benefits Formula, what it consists of, and how it works.
Listen Now
Recently a poplar investment and financial website ran an article about Life Insurance, but the article was inaccurate and not true.
We responded with a new article on the subject, bringing much needed clarity to how Cash Value Life Insurance works.
Today on Wealth Talks, John and Ben talk about the different types of Life Insurance available, and how you can use your cash value life insurance as a financial tool.
There are multiple types of life insurance, each kind created for a specific purpose. Some accumulate cash value, some are just pure death benefit, still others have an investment option.
Listen in and learn about the different types of life insurance, and why life insurance is called the 4th pillar of Americanism.
Resources: 5 Ways to Use Whole Life Insurance Cash Value: https://www.life-benefits.com/5-ways-obtain-whole-life-insurance-cash-value/
Protecting yourself legally is a must. But how do you go about it? Most Lawyers are happy to “set you up”, but it might be exactly that!
Today on Wealth Talks, Tom and John are joined by Attorney Lee Philips, a Counselor to the U.S. Supreme Court, to talk about ways you can protect yourself legally.
Do not miss this episode… Listen Now!
Call John to order Lee Philips’ Accumulation and Preservation of Wealth System + Advanced Tax Tactics: 702-660-7000 (or email john@wealthtalks.com)
Americans are running out of money in retirement, and its not just by a little… there’s a big shortfall. It shouldn’t be this way, but sadly Americans have either not saved enough, or saved in the wrong places… maybe some of both.
The typical IRA and 401k are just not cutting it. So what should we do instead?
Today on Wealth Talks, Tom and John talk about why the 401k and the IRAs have failed Americans, and what we can do to save more effectively for the future.
Some people advocate borrowing from a life insurance policy for everything. Others vehemently oppose taking a policy loan at all. What should you do? The answer is simple though not conclusive… it depends.
Sometimes it makes great sense to take a policy loan. At other times, you can save more money by borrowing elsewhere.
Today on Wealth Talks, Tom and John point out the effects of borrowing against a policy, and how you can decide when to use a policy loan and when to look for other funding options.
With low interest rates right now, does it make sense to make extra payments right now? This is an area of confusion for many, and it is often glossed over by the experts in finance.
Today on WealthTalks, Tom and John discuss making extra payments on a mortgage, and even using a HELOC to pay off the mortgage early.
Knowing the facts can save you a lot of money. Listen Now on Wealth Talks
Fun with Real Estate Presentation - Video: https://www.life-benefits.com/videos/fun-with-real-estate-by-tom-mcfie/
How did it originate? What was it intended for? How can it be used? Is it a good financial strategy?
Those are good questions. Listen Now on Wealth Talks as Tom and John delve into the inner workings of the Roth IRA.
How Does a Roth IRA Work? - Article: https://www.life-benefits.com/how-does-a-roth-ira-work/
Its been an exciting few days! The new book How to Build Sustainable Wealth has finally premiered as a softcover.
Many people are struggling financially. They are doing all they know how to do, but their money keeps slipping through their fingers like sand. Frustrated and upset, they turn towards a Financial Planner for help. Sadly, this is often the worst thing they could do.
On this show we discuss the new book How to Build Sustainable Wealth, and how it can help you keep more of the money you make.
Order the new book How to Build Sustainable Wealth by Dr. Tomas McFie: https://www.life-benefits.com/store/
The Economy is suffering, stability is not an accurate description of the Market, and the Federal Reserve seems to be playing a game of Jenga with our monetary system.
It seems as if any moment everything could come crashing down.
What should we do?… what can we do?
In uncertain times, like the present, many are advocating buying silver or gold. Is this a good choice? Are there better options?
Find the answers now on WealthTalks.
Order the new book How to Build Sustainable Wealth by Dr. Tomas McFie
Real Estate prices have been fluctuating for years. Goaded by natural disasters, crime and political intrigue, real estate prices have been anything but stable. Seemingly “safe” properties are not immune, the arrival of a less than desirable neighbor, or the whim of some politician can change your home’s value drastically.
All told real estate seems a slippery surface on which to set your basket of eggs.
But what else can we do? Where else can we build equity today? Commercial Real Estate? A HELOC perhaps?
Join us on Wealth Talks and discover the answers to these questions.
The purpose of TUMS and other antacids seems straightforward - almost like a magical formula to solve Heartburn and acid indigestion. But how do antacids work? They either neutralize the acid in your stomach or, depending on the product, they might prevent you from making as much acid in the first place. With no acid to slosh up your esophagus, you can’t get heartburn!
This all seems great, but an interesting study shows that those who took antacids were more likely to become ill than those who did not. The acids in your stomach protect you from diseases. With these acids destroyed, germs can move right in and pull a chair up to the fire, so to speak.
Eating raw foods will keep your immune system strong and will also help too keep you from getting heartburn, as your stomach doesn’t have to produce as much acid to break down these foods.
But let’s face it. Replacing a Big hamburger and fries with cool Brussel sprouts and carrot sticks, can be disheartening to say the least.
Today on Wealth Talks, Nutritionist Doug Grant reveals the natural solution to excess stomach acid. And no, you don’t have to munch Brussel sprouts for the rest of your life!
Resources:
Optimal 1 Digestion & OHS 21-day Challenge - Get them here: https://www.optimalhealthsystems.com/Articles.asp?ID=277&ProductCode=8&qty.8=1&ProductCode=655705123013&qty.655705123013=1&HPClientID=15749&HPEmail=john+++wealthtalks.com
Use code: OHSWEALTH during checkout to get 10% off your first order with Optimal Health Systems
February Show with Nutritionist Doug Grant: https://www.life-benefits.com/podcasts/health-is-wealth-with-ohs/
It’s obvious that Christian faith is under attack on many levels across America. This inherently includes an attack on the Judeo-Christian values which support the ownership of personal property and allow American families to build sustainable wealth. Dr. Ralph Reed’s latest book For God and Country provides a defense of Judeo-Christian values especially relating to political decisions in the face of vocal opposition.
When it comes to elected officials, you can’t ignore or deny that there are “politics” involved in the way they deal with certain issues and regulations including recent restrictions and standards surrounding COVID and rioting.
But Freedom is in the DNA of the American people, and most agree on the foundational values of: Faith in God, Strong Families & Civil Society, Free Markets, Rule of Law and Limited Government.
Many evangelical Christians are facing hate for supporting Donald J. Trump for President in 2016. As the Founder and Chairman of Faith and Freedom Coalition + working on the campaigns for 11 presidential elections over the years, Dr. Reed definitely has a connection to the pulse of national politics as they relate to Christian Faith and values.
Listen and consider what the election means for your faith, values and wealth.
3 Steps to Effectively Stand for your Values in 2020 and beyond:
- Be educated & informed
- Vote
- Work to influence public policy
Resources:
Enter to Win a copy of Ralph Reed’s book: https://www.life-benefits.com/ralphreed
YouTube has changed the world of learning. With a simple search, we can find videos to learn about almost anything under the sun. But there is so much non-relevant, outdated, and even mis-information online too, that trying to sort out the gold can be frustrating.
Today on WealthTalks, you get a “behind-the-scenes look” at the Life Benefits YouTube channel, as Gracine and Jesse join the show. How do we keep our videos relevant? Where is a good place to start? What will these videos help you with?
Listen Now on Wealth Talks
Also on this show… sneak peek on next week’s show with a special guest!
Resources:
The Life Benefits YouTube Channel:
https://www.youtube.com/user/LIFEBENEFITSINC
Only 59% of Americans own life insurance and 50% of these people are still under-insured. Why don’t people own more life insurance?
Perhaps it’s because they:
- Have been told it’s a bad investment?
- Have heard misunderstandings about life insurance
- Had an experience with a bad policy (or a bad agent)
Or maybe they think:
- Group life insurance is enough
- Life insurance is “just for the next guy”
- The insurance they would like to have would be too expensive
- Or maybe they don’t want to think about it.
There are many benefits to owning the right kind of life insurance policies in the 2020 economic environment and beyond. Today Tom and John discuss some of these benefits and reveal common mistakes around life insurance.
Resources:
How to Build Sustainable Wealth - Preorder (delivery in September): https://ao160.infusionsoft.app/app/orderForms/Fire-Your-Financial-Planner-Preorder
COVID is on the rampage! Stay safe, stay home, wear a mask, social distance, but you could die anyway. Fortunately, you can discover if you have the disease by taking a simple test. Unfortunately, 80% of positive test results are false positives, but so what? Oh, and pull up that mask, all the way over your nose… it’s to keep you safe… it’s to keep everyone else safe, but to really be safe, let’s quarantine.
Wow! It sounds deadly! What can we do to fight this super-virus?
Today on Wealth Talks, Tom and John are joined by Dr. John Bergman, an internationally renowned doctor, practicing in the U.S. and Mexico. Dr. Bergman brings special insight around the COVID virus, and what to do to really stay safe.
Resources:
Dr. John Bergman's Website:
https://drjohnbergman.com/?utm_source=life-benefits.com&utm_medium=podcast&utm_campaign=08062020Interview
Extreme Health Academy: https://www.extremehealthacademy.com/?utm_source=life-benefits.com&utm_medium=podcast&utm_campaign=08062020Interview
Dr John Bergman's Youtube Channel: https://www.youtube.com/channel/UC8RPuonNxq2lMb8zMvo7Xxw
Many people think the Federal Reserve is a wing of government… but in actuality it is a Private Cartel.
The unusual thing about the Federal Reserve is their ability to create money. We have to work to make our money, but the Federal Reserve can simply print its very own Benjamin Franklins.
In today’s day and age, they don’t even have to print. They can generate money with a click of a computer key!
No! It can’t be as easy as that! But it is!
Very Comforting… isn’t it?
Today on Wealth Talks, Tom and John are joined by Dr. Paul Cleveland. Dr. Cleveland has a Ph.D. in Economics and is a Professor of Economics and Finance at Birmingham-Southern College. Dr. Cleveland gives us a brief history of the Federal Reserve and how it operates + a way we can stay in the game despite the rising inflation.
Resources:
Get Dr. Cleveland’s Books and Courses at BoundaryStone.org
https://boundarystone.org/store/?utm_source=life-benefits.com&utm_medium=referral&utm_campaign=PodcastInterview
Is The United States of America a Democracy, a Republic, or something else? Does the Constitution uphold the Lockdown? What is the Electoral College? Was the 17th Amendment in 1913 good or bad?
These are important questions, how do we find the answers?
Today on Wealth Talks, Tom and John are joined by constitutional scholar Rick Green. Rick knows exactly what the constitution says, listen in as he answers these and other questions.
Listen Now
If you let procrastination get a grip on you, it can crush you! People procrastinate all the time, whether rushing busily around doing nothing, or lazily evading their work. One thing people procrastinate about a lot, is their money.
They make their money, but then they lock it some place they can’t get it. Or, they hand it over to their Financial Planner, or Stock Broker, because, after all, they will know best what to do.
Why do they do this? Because to learn how to grow their money would take some work on their part, and they would rather just hand it over to someone else. This type of procrastination has cost people big time!
What can you do to avoid procrastination? Listen Now
Resources: 3 Things You Can Do To Become Wealthier: https://www.life-benefits.com/3-things-to-become-wealthier
When will things go back to normal? What are changes that might arise from this pandemic? What is racism?
What can we do about the personal economic impact of everything going on?
Today, Rabbi Daniel Lapin (America’s Rabbi), TV host and bestselling author of the book Thou Shall Prosper, joins us on WealthTalks.
Listen as Rabbi Lapin answers these and other questions. His answers bring remarkable insight to the problems at hand.
Resources:
Get the Complete Library with Rabbi Lapin’s materials: https://rabbidaniellapin.com/product/complete-library-package/?utm_source=life-benefits.com&utm_medium=podcast&utm_campaign=07092020Interview
Krish Dhanam joins the show today!
Are some of George Orwell’s famous predictions coming true?
- Ignorance is Strength
- Freedom is Slavery
- War is Peace
Foundations matter - and no less in the times we are living today. When you draw a line there is always a price to pay, but history shows that people who draw the line and stand by their values are the ones who later rise to heights of prominence.
Krish also shares lessons from the Bible about convictions… and the cost which these convictions can carry.
Developing the Mental Agility, the Physical Presence and the Spiritual Character you need to weather the social and economical storms of the 21st century has never been more paramount.
Excellent and important material.
ResourcesPurpose and Productivity Podcast by Krish Dhanam
On iTunes: https://podcasts.apple.com/sg/podcast/purpose-productivity/id1519074745
On Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy81YmVkNzI4L3BvZGNhc3QvcnNz
Universal Life Insurance and especially Indexed Universal Life Insurance (IUL) is a relatively new type of insurance, and one which has created a lot of controversy. Some almost swear by it, others just as vehemently oppose it. Some like it because they say it allows them to still dabble in the market, while retaining a death benefit. Others detest it because it shifts the risk away from the insurance company onto the policyholder.
Today on Wealth Talks, Tom and John take a look at some common arguments for Indexed Universal Life Insurance. Does the case for IUL have a leg to stand on? Listen Now!
Resources:
Indexed Universal Life Insurance (IUL): How It Works And What You Need To Know: https://www.life-benefits.com/podcasts/indexed-universal-life-insurance-iul-how-it-works-and-what-you-need-to-know/
Do You Have A Friend Selling Indexed Universal Life Insurance: https://www.life-benefits.com/podcasts/do-you-have-a-friend-selling-indexed-universal-life-insurance/
Originally called “old-age insurance protection”, Social Security was supposed to be a supplemental form of income for those who had not saved enough. Today Social Security has become the primary source of income for many retirees.
Social Security gets the money it pays out by taxing people who are still working and also by taxing its own payouts! But there will come a time when Social Security has to pay out more than what they bring in. Social Security will then be “bankrupt.” What exactly does this mean and what will probably happen at this time?
Listen Now!
Resources:
https://www.ssa.gov/OACT/NOTES/ran5/an2004-5.html
3 Things You Can Do to Becoming Wealthier - 57-page Guide: https://www.facebook.com/LifeBenefitsTeam/posts/3110599242296727
We’ve probably all heard the term Becoming Your Own Banker. Why would anyone want to be a banker? Aren’t bankers the professionals? Why not just let them manage all the money?
Today on WealthTalks Tom and John share some very interesting and astounding, numbers. At the end of this podcast you will not only realize exactly why you should manage your own money, you will also know how.
Listen to the episode now!
A brilliant Chemist once said he enjoyed going back and teaching Chemistry 101. Why would he enjoy teaching something that was obviously elementary for him? The answer was simple. Going back to the basics for a time helped him be more creative when he went back to his other chemistry work.
Today on Wealth Talks, Tom and John go back to the basics, Insurance 101 if you will. Not only is this a great staring point for newbies, but, just like Chemistry 101, its a great refresh for those who are advanced. Listen Now
Resources:
Winning Your Financial GAME & Study Guide: https://www.life-benefits.com/store/
Prescription for Wealth ebook & audiobook: https://www.life-benefits.com/prescription-for-wealth-book/
Financial Class Recording: https://lifebenefits.lpages.co/financial-class-05192020-recording/
Recently a few articles have made their way into the news about Insurance Companies turning down would be purchasers due to the COVID19 Pandemic. Perhaps the Wall Street Journal put it best stating “Some Americans are being turned away trying to buy Life Insurance”.
Today, Dan Foley, Senior Vice President of Marketing Technology with Security Mutual Life, joins the show to talk about what exactly is happening with the Insurance companies.
Security Mutual started in 1886 in New York. Now they sell insurance in all fifty states, the District of Columbia, and the US Virgin Islands. 38 years ago, Dan Foley joined them, starting work in the company’s actuarial science department. Dan Foley really knows his stuff! You do not want to miss this interview.
Recently there have been some sensational articles in the media suggesting life insurance companies are facing tough times with the financial crisis combined with COVID-19.
Special guest Attorney Andrew Rinn, also the Vice President of Advanced Markets at Ameritas, joins us to share an inside perspective on what’s really happening at mutual life insurance companies right now. It is fascinating to hear how life insurance companies (especially mutual companies with strong cash positions and a low debt ratio) are in a position to obtain nice deals in the current bond market.
Underwriting procedures and virtual research have also been upgraded to minimize paramedic requirements for new policies. Life insurance guarantees are always important - never more so than during these times. It’s good to hear how mutual insurance companies like Ameritas are putting their policy holders first - keeping guarantees strong and recognizing liquidity needs through policy loans.
Thank you for sharing, Mr. Rinn!
He straddled the bicycle for the first time, set his feet on the pedals and rode serenely away into the glowing sunset. Oh if only it was that easy! It isn’t of-course, because, like everything, there is a learning curve.
Is it possible to eliminate the learning curve on a bicycle by learning everything you can about it?
What if you learned the way the shifter worked, the way the derailleur, the chain the sprocket, the cassette, the front brake and the back brake worked. What if you looked up a video on bicycling 101 and even read an entire book on bicycling for dummies, would the learning curve be eliminated? No! Decreased? Yes, but eliminated? Emphatically no!
So how does all this relate to good money management? Listen to the episode now!
What are you really worth? Americans used to save over 14% of what they made, but now Americans are hardly saving at all. Many people don’t feel they are worth anything, and hence they don’t save anything. This is tragic!
How much should you save? Some say you should have enough saved to live on for 6 months, some say enough for 3 years. Both those options beat having just $500 like 50% of Americans, but are they right for you?
Also on this show: If guaranteed policy values are based on a 4% return, and I you are paying 5% interest on a policy loan, are you only paying a net 1%? As you may suspect, there is more to the actual results of this example than what appears on the surface.
Join Tom and John on Wealth Talks, as they discuss the answers to these questions.
Resources:
10-20-70 Budgeting System & Worksheet: https://www.life-benefits.com/10-20-70-budget-system/
Order Winning Your Financial GAME & Workbook: https://ao160.infusionsoft.com/app/manageCart/addProduct?productId=208
If you’re interested in investment opportunities, take the time now to begin preparing and learning everything you can about the process.
For example, if you think Real Estate investing and rental properties sound interesting, then learn about the state laws, the systems and templates that you would need to have in place for this type of investment/business venture. There are some great resources online for learning about state specific laws and getting actual templates that can help you in this type of venture. Checkout this example of a Month-to-Month Rental Agreement from iPropertyManagment.
Learn about the different expenses associated with the investments you think you may want to make. Calculators such as this Investment Property Calculator on AARP can help with this process and in evaluating real opportunities when they do come along.
Anyone can lose money investing, but starry-eyed novice investors tend to lose much more than people who have enough knowledge to avoid major mistakes. Get knowledge on your side.
And regardless of the investment opportunities you want to pursue, be sure you are building a strong foundation of guarantees and liquidity before investing, because investments are always going to carry risk. Life Benefits can help you build your foundation of financial guarantees through Life Insurance. Call us for assistance at 702-660-7000.
Resources:
More Information about Inverted Yield Curves
The economy is down, businesses are closed and people are left unemployed as the quarantine lockdown continues. Will the economy ever recover?
Today on Wealth Talks, economist George Gilder joins Tom and John to talk about the economy, wealth and poverty.
George Gilder has written many renown books on the economy, including Wealth and Poverty, a best seller with over a million sold and Life after Google, also a bestseller.
You do not want to miss this episode. Listen Now!
Resource Links:
Subscribe to George Gilder’s Daily Prophecy at GilderPress.com: https://gilderpress.com/?utm_source=lifebenefits.com&utm_medium=podcast&utm_campaign=wealthtalks
Get Life After Google on Amazon.com: https://www.amazon.com/Life-After-Google-Blockchain-Economy-ebook/dp/B072NYKG2G/
Get Wealth and Poverty on Amazon.com: https://www.amazon.com/Wealth-Poverty-Twenty-First-Century-Gilder/dp/B00CB5H5JQ/
Annuities can be good if you know how to use them. But what are some good strategies for using annuities?
Today Tom and John explore different ways you can use annuities, and which ways make the most sense.
Also on this episode, SBA loans. How long will it take to get one? What if I need the money before I can get the loan?
Resources: Types of Life Insurance:
https://www.life-benefits.com/podcasts/what-type-of-life-insurance-do-you-really-want/
YouTube LIVE with Campbell Jones Cohen CPAs
https://www.youtube.com/watch?v=BA-GlC44kXk
We all think we know what the economy is… but do we really? What is the origin of the word economy? What does it mean? Does it pertain to you as much as it does to me?
Those are interesting questions. Here are some more: What is the Cost of a credit card? What is the Price? What about the Cost and the Price for a mortgage? How does that compare to life insurance?
Listen Now to find the answers!
Resources: Winning Your Financial Game
Risk Tolerance is a phrase that gets thrown around a lot in the typical financial world. Your risk tolerance is defined as the degree of variability in investment returns that you are willing to withstand.
But this really doesn’t specify the amount of money you are willing to risk in order to possibly make a certain amount of money. In other words, how much money are you going to gamble with?
Of course, just because you gamble with more and more money, that doesn’t mean you will make more, or even any, money in return.
Sadly, it seems that many “risk tolerance” measures are just a new-fangled way of throwing your money away. Here’s what you want to know instead: What is your Loss Aversion? Listen now to find out.
Resources:Podcast Interview with Dr. Paul Cleveland
The market has plunged rapidly into a black swan, and a black swan is where typical financial planning fails.
Typical financial planning tells you just to keep your money in, and let the market come back up. But many times, the best deals are to be found in times like these. If your money is all tied up, you are going to miss out.
Traditional financial planning starts out by purchasing Whole Life Insurance, which is not tied to the market. When the market is in a time like this, your money is easily accessible to use for any opportunities that may arise.
Sadly, many people who are losing money because of typical financial planning, think it’s too late to start planning traditionally. Heres the good news: It’s not!
When it comes to Whole Life Insurance, there are many “interesting” products and designs. There is an art and a science to designing Whole Life Insurance, not every life insurance agent can design a good policy. We design the best whole life insurance, customized to meet your needs.
Listen now
Also in this episode: My children don’t have steady income, how do I help them start a policy?
Some people have a big win followed by a devastating loss. Sometimes the loss even nullifies the win. Have you seen it? It’s the classic example of winning a battle but losing the war.
In this episode of Your Monday Motivation there’s some good advice about how to keep winning when you win. It’s second hand advice, but it’s good…
The market is a mess. Stocks are down, the Dow is down, the S&P 500 is down. Are you happy with your strategy for financial planning? Or does it feel more like gambling in Las Vegas?
People are being failed by their financial planning strategy, leaving them dependent on Social Security. This is a problem.
You need a foundation that isn’t affected by the latest plunge in the market.
Listen now to find out why it is so critical to have this foundation, and how to get it.
Typical financial planning has failed, leaving many dependent on social security. 401Ks, simple IRAs and other Tax Qualified Plans, are the “golden goose” that can kill you financially if you don’t know and understand the “terms and conditions” of each.
Although it seems like “free money” when your employer is contributing some sort of match, will that “free money” actually cost you in the long run?
In today’s episode, Tom and John talk about some of the consequences that could ensue in the future with these typical systems. Surprises can be nice, but tax implications you didn’t expect to have, aren’t.
Don’t get caught by surprise, understand what’s ahead. Listen Now.
Today on Wealth Talks Michele joins Tom and John… and so does Mr. Higgins! Well, sort of. Poor Mr. Higgins lives in a book and has a clock but cannot tell if it is on time! Mr. Higgins buys another clock only to discover that neither clock displays the same time.
Now Mr. Higgins is in despair! He can’t tell which clock is correct! Is Mr. Higgins doing the same thing with clocks that some people do with life insurance? Listen Now to find out, not only what some people do with life insurance, but also what Mr. Higgins does to fix his problem.
How can you tell if you’re paying more in taxes than you should be? Can section 199A really give businesses a leg up? What about the Secure Act? Is Life Insurance really a good tool to leave a legacy?
Jack Cohen worked as an IRS Auditor for 33 years, In fact, he won the IRS Employee of the Year Award in 2006. Since then, Jack has switched the “black hat” for the “white hat”, helping people pay as little as they legally can in taxes.
Today he joins Tom and John on Wealth Talks to answer questions about section 199A, the Secure Act, and others. Also, he offers to review your tax returns so you can tell if you are losing money.
Don’t miss this Episode: Listen Now.
Health is indeed a part of Wealth. And with so many options for diets and supplements in today’s world, where do you even start to start? Do nutrition and supplementation really play a role in helping you reach Optimal Health?
Doug Grant is the founder of Optimal Health Systems (OHS). Before founding OHS in 1997, Doug was the 1st nutritionist ever hired by an NBA team. He has continued on to work with athletes in MLB, the NCAA, the Olympics, and even publishing Ironman magazine for a couple of years.
Listen in as Doug Grant joins Tom and John to talk about health and nutritional needs, and what type of process goes into developing nutrition products at OHS.
Resources:
Call 702-660-7000 to get your 21-day Blitz Challenge
Use code: OHSWealth to get 10% off your first order with Optimal Health Systems
There are many Retirement Calculators out there, insert your numbers and Ta-Dah! The calculator spits out how much money you need to have in order to retire. But these calculators can’t guarantee how much money you will need in retirement.
What chunk of your money will inflation gnaw off throughout your retirement? Are your retirement savings tax free? Or only tax deferred? Will you ever require special medical care? What about assisted living? Or emergencies, or… or… or…
Today on Wealth Talks, Tom and John talk about events that can catch you by surprise in retirement. Don’t trust typical financial calculators to tell you what you “need” to retire on.
Call our office to see how Participating Whole Life Insurance can help you plan for more sustainable passive income in retirement. Call 702-660-7000 or schedule time to Talk with an Agent.
The Federal Reserve has been artificially lowering interest rates for years. This has been driving up the cost of stocks, far beyond their economic value. Meanwhile, other central banks are printing up legal currency in order to buy shares of stock.
Our own Federal Reserve is printing up currency with which they are purchasing mortgages.
Sooner or later, a return to economic reality will have to take place. Today Tom and John are joined by Dr. Paul Cleveland, Ph.D. in Economics and Professor of Economics and Finance at Birmingham-Southern College.
Join the conversation as they talk about the ways to prepare for the upcoming “return to reality”.
Resources:
Get Dr. Paul Clevelands books at boundarystone.org
Risk tolerance is a big term in typical financial planning. Basically, risk tolerance is the amount of nerve you have to watch your investment portfolio lose money without flinching. According to typical financial planning, the higher your “risk tolerance” the more money you should risk losing to try and get big returns.
But typical financial planning isn’t working out so good for most Americans. People are running out of money in retirement and the median savings for someone age 65 or older is only $63,000.
If you are allergic to risk and you hate losing money, if you believe that when you’re 65 you should have more than $63,000 in savings then you probably shouldn’t follow typical financial planning.
Doing nothing is not enough though, you must do something better, that’s what we talk about on episode 248 of Wealth Talks. Listen Now.
Wealth Seminar on February 20th. Register Here»
How is wealth created? According to George Gilder, there are three things that create wealth. (Listen to find out)
People who put money in a 401(k) limit their access to their own money which makes it hard to create wealth… and 401(k)s aren’t treating people all that well, to begin with.
The average 401(k) balance is pretty low especially considering many employees are betting on their 401(k) to make retirement a reality. That’s probably the reason most retired Americans depend on Social Security for at least 50% of their retirement income.
People who believe in the future use their money to create wealth. Can you do that too?
Discover the three things that create wealth. Listen Now.
Governments and central banks are taking the low road. They are attempting to artificially stimulate the economy by implementing negative interest rates. John says it will work probably work short-term Tom says it could cause people to hoard tangible assets like gold, silver, antique automobiles and art.
What is it that really stimulates an economy long-term and causes wealth to be created?
Why do you think most business regulations are put in place?
A. To protect small business from getting overrun by big business
B. To make it hard for small business to compete with big business
Now picture yourself approaching retirement… what would you do if interest rates went negative on all of your retirement savings, and instead of earning interest on your money, you had to start paying just to keep the money you’d saved?
All this and more on episode 246 of Wealth Talks. Listen Now.
Most people think saving money is about cutting lifestyle and luxuries. This is certainly one way to save, but it is not the only way because where you save your money can make a big difference in how much you get to keep. 💵
Benjamin Franklin says, “There are two ways to increase your wealth. Increase your means or decrease your wants. The best is to do both at the same time.” But increasing your means is not always as easy as increasing your income because expenses tend to rise to equal (or exceed) income (Parkinson’s law). 😟
When you have a good plan for your finances you can save more money without working any harder; you can have peace of mind and be ready for good investment opportunities when they come to you.
Whether you’re trying to save more money for retirement, to make an investment, or just saving money for a rainy day it’s always a good thing to minimize fees and taxes. And you want a big word called LIQUIDITY. Find out why this is so important.
Resources:
10-20-70 Cashflow Worksheet Tool
Tips for Saving More Money in 2020 - Video
Wealth and Poverty book by George Gilder
The Black Swan book by Nassim Nicholas Taleb
he SECURE Act was signed into law by President Trump on December 20, 2019. Here are some key changes you should know as you plan for retirement:
Generally, the SECURE Act:
- Removed Maximum Age limit for IRA Contributions
- Increased the age for Required Minimum Distributions (RMDs) from age 70.5 to 72
- Enforces a 10yr distribution window for most inherited retirement accounts - no more stretch IRAs
The SECURE Act is likely to increase age tax-qualified account balances because people will be encouraged to save more in these accounts. It will also increase government tax revenues because of the 10yr distribution rule on inherited accounts.
Also under the Secure Act, employers get a tax credit by automatically enrolling employees in the company sponsored retirement plan (Small-Employer Automatic Enrollment Credit). If you don’t want to be automatically enrolled into contributions to your company retirement plan you may need to take action to opt-out.
Now is a good time to consider how much of your money you wish to invest in tax-qualified accounts compared to paying the tax and building wealth in other types of accounts where you have more control, lower fees and less market risk.
For example: Target-date mutual funds are a default option for most retirement plans with an automatic enrollment. Target-date funds are sold as a “set it and forget it management strategy” and they are also notorious for high fees. Fees are a killer whenever you try to grow your money.
Compare target-date funds with the guaranteed values that build in participating whole life insurance policy over a similar time period. It could make sense to keep the control of your money and lock in guaranteed growth through life insurance + leave any legacy to your heirs income tax-free, instead of putting them into a higher tax-bracket with required distributions on an inherited tax-qualified account.
Wealth Workshop in Las Vegas Jan 18th - Register now
Most people are losing money with typical financial planning. Learn to use Life Insurance as a Financial tool while you’re living so you can keep more of the money you make and have financial peace of mind.
Can you really eliminate the control of Banks and Financial institutions in your life by using Life Insurance? Or should you own Life Insurance for different reasons? Discover the best reasons to own and use Life Insurance as a financial tool in 2020.
With the New Year just around the corner it’s a great time to reflect on the history of Life Insurance and how to achieve your goals in 2020. New Year’s resolutions are infamous for lasting only a few weeks. What does it take to get the follow through you deserve and achieve the results you really want?
Consistent Action is one key. And so is Consistent Motivation. One way to stay motivated in 2020 = Subscribe to Your Monday Motivation a 2-minute weekly motivational message from Ben McFie.
Subscribe to Your Monday Motivation on Apple Podcasts
OR Subscribe by text message by texting: MMM to 77222
What are people talking about when you hear the term “Investment Grade Life Insurance”? Answer: It can be just about any type of life insurance under the sun because the “Investment Grade” part is marketing fluff.
The Supreme court has ruled that life insurance is not an investment but rather an asset, so what you really want to know is how the underlying life insurance works and how it would fit into your portfolio.
This podcast show makes it easy to understand the value of guarantees from WHOLE life insurance in your portfolio, and why it pays to be wary of any other type of risk management scheme contrived within a UNIVERSAL life insurance contract. When you know what’s really happening, you’ll know what to do.
Resources:
Get the Tool: Internal Rate of Return (IRR) for Policy Values
Register for the: Jan 18th Workshop in Las Vegas
Should you rely only on Group Life Insurance through your employer? Or does it make sense to combine your group coverage with individual coverage? What option(s) will cost the least over time? What else should you know of when it comes to Group Life Insurance? Find out now.
Hear the pros and cons of Group Life Insurance and how it compares (or can work together) with personal Term Life Insurance and Participating Whole Life insurance to get you the best coverage.
Resources:
Get a Quote for Term or Participating Whole Life Insurance here
Stories from the Plymouth Pilgrim colony and the modern Farming community help to explore the way Socialism differs from Mutual Assistance, Mutual Organizations or acts of Charity in a community. Ask yourself, what model will best protect wealth? And discover how you can you participate in a mutual framework to protect the wealth you create.
Obviously, charity is important, while greed is destructive. The right method and attitude for creating and protecting your wealth follows the same guidelines. Do this right and you will experience a wealthier life beyond just the money you accumulate in the process.
This show also includes some fun facts on life insurance…how much life insurance was in-force in 1930 compared to 2018? Listen and find out.
Resources:
2018 Life Insurance Stats - Statista.com
What you need to know about government, money systems and market environments to build sustainable wealth - we make it all easy for you. Understanding these systems conceptually, will help you grow your wealth and keep more of the money you make.
Did you know Sir Isaac Newton (the inventor of calculus) made a significant contribution to a stable monetary system in England? This helped to set the stage for the great wealth accumulated by the British Empire. Hear the story on today’s show.
Today’s discussion also sheds light on why you should become wealthy in the first place. It boils down to how you get the money, and that should be a virtuous activity. As writer George Gilder points out, wealth is only valuable when it is combined with wisdom. Same reason why currency trading doesn’t “create” any value.
“Life, Liberty and the Pursuit of Happiness”, is the foundation which allows opportunity for you to create value out of nothing which is the only model that “creates” real wealth. Other methods just shuffle money around but DO NOT CREATE any new wealth.
Summary includes a tool you can use to avoid some of the imperfections in the “system of the world” in which we live today. This helps maximize your opportunities to create wealth and keep control of the wealth you do create.
Resources:
https://www.biblegateway.com/passage/?search=John+17&version=NASB
https://www.life-benefits.com/how-to-protect-your-money-from-inflation/
You’ve heard of income-based repayment aka income-driven repayment plans for student loans. Do they apply to you? How do you know what income driven plan is best for you?
What about the tax liability when the loan is forgiven? Is it really worth jumping through all the recertification hoops? Will you have to limit your service potential to keep your income low enough to qualify?
Or could there be a strategy for you that ties it all together and gives you a better deal?
Maybe you can save enough cashflow over the next 20-25 years to take care of the tax liability with no problem. Maybe you can turn your debt into an asset and actually have “money saved” to show for your effort when everything is done. There is a strategy and this show will help you discover what you need to know.
Resources:
https://forms.gle/bc9x5cHh4Rpf5tkNA
From the story of the Tower of Babel in Genesis, through Greek Culture, even through the Dark Ages, and now through modern day Marxism in America, humans often think it is wrong to be wealthy. They think it might be better to redistribute the wealth. Maybe everyone could enjoy prosperity equally and fairly - it sounds really nice.
But life isn’t equal or fair, so what’s the best solution? Today you’ll hear some history around the idea of Wealth Redistribution and the different forms it assumes throughout history. This discussion makes several references to the Bible.
Basically you can choose from 3 systems:
- Socialist/Communist system = Direct Redistribution by government
- Capitalist system = Redistribution through markets, services and charity
- Neo-Capitalist or “Crony” Capitalist = Redistribution through manipulated markets
Consider how these three systems distribute and redistribute wealth and then you’ll be able to make better sense of the wealth in your life to manage it wisely.
Resource links: https://www.life-benefits.com/podcasts/wealth-redistribution-where-the-idea-came-from-and-what-it-means-for-you/
Did you know, that a withdrawal from any type of Universal life insurance policy, is substantially different than a withdrawal from a Whole life insurance policy? Policy loans may also affect universal life insurance and whole life insurance products differently. On this show you’ll hear what you need to know about policy loans and withdrawals.
It doesn’t matter whether a universal product is called Indexed Universal Life (tied to a market index), Variable Universal Life (tied to various stock accounts), or plain Universal Life (usually tied to an interest rate).
Withdrawals from any type of life insurance policy can easily be taxable. Loans are usually not taxable but can become taxable if you borrow too much and cannot pay the interest. Don’t lose money. Discover what you need to know to keep more of the money you make.
You will also hear guidelines on when it makes sense to take a policy loan and when it makes sense to use other money.
Call Life Benefits for specific guidance 702-660-7000
Conversation with Krish Dhanam and Dr. John Bergman highlighting some of the wonderful experiences and content from the 2019 Wealth Cruise.🚢
From financial wealth building to world views and knowledge for cultivating physical health and well-being, this cruise reflects a recognition that humans are tridimensional in nature with Mental, Physical and Spiritual aspects. To achieve real and sustainable wealth you have to become successful in all 3 dimensions.
Mentally you can design a strategy to create financial wealth and exercise discipline to follow your plans and make important adjustments along the way.
Physically you want to recognize when your body is stressed and how that could affect your ability to perform and experience life at your full potential.
Fundamental world views (aka spiritual beliefs) affect your work ethic, and give you the dignity to serve and do the things you need to do in the other two dimensions.
Ultimately you want to grow in a balanced way. Krish Dhanam explains the wheel of life and how this can help you develop a large “wheel” in a balanced way without getting side tracked by circular logic or passing emotional desires.
Resources:
Zig Ziglar’s Wheel of Life - How does Your Life Measure? >>>>
Subscribe to Life Benefits for info on the Next Wealth Cruise
🗓 Open Enrollment for Health Insurance starts Friday November 1st running through December 15th 2019. Special guest Jack Hooper from Take Command Health shares 2 new HRAs available for businesses in 2020 - ICHRA and EBHRA in addition to QSEHRA from 2017.
Acronym Definitions:
ICHRA = Individual Coverage Health Reimbursement Arrangement
EBHRA = Excepted Benefits Health Reimbursement Arrangement
QSEHRA = Qualified Small Employer Health Reimbursement Arrangement
These HRAs can add more options and flexibility for employers and employees searching for the best health coverage and benefits.
Business Owners in any of the 50 states can choose from a couple types of HRAs to eliminate the hassles of trying to choose the best group health plan, and deal with premium increases. You can also outsource the on-boarding, compliance and reporting to make an HRA the obvious simple solution for your business health benefits program.
Shopping for individual coverage? Use the Take Command Health system to find the best health insurance options across ___ states.
And if you’re an employee who’s not entirely happy with your employer offered group health plan, you may want to take this information to your employer and encourage them to implement an HRA that could give you better options in 2020.
Resources:
For more information on shopping for Individual and Family Health Insurance Coverage see:
How to Save Money on your Health Insurance - 2018 podcast with Jack Hooper
and
Comparison of Heathcare Sharing Options - Podcast
🗞Everything you need to know, and probably more than you’ll ever need to know, about Indexed Universal Life Insurance (IUL). Universal Life Insurance has been promoted since the 1970’s. IUL insurance is even more recent, but still based on the same idea of buying term insurance and investing the difference.
If you like risk, fees, a possibility of greater gain when the market goes up (never when it goes down), an ever increasing cost of insurance, and a thick contract that obviously protects the insurance company over the policy owner…you might want IUL.
Yes, we’re biased toward good traditional Whole Life insurance, and you’ll understand why as you listen. Complexity is not your friend when it comes to IUL.
Resources:
If you already have an IUL policy contact Life Benefits for a review: 702-660-7000
How Indexed Universal Life Insurance Works: https://www.life-benefits.com/how-indexed-universal-life-insurance-works-iul/
19 out of 20 Americans with a 401(k) are paying fees of some sort whether they know it or not. 😰 Even if the account, or advisor, does not charge a management fee, there are usually fees hidden in various ways.
If you know these fees are present you can figure out how to deal with them, overcome, or avoid them strategically. Just don’t be a sucker and think you have no fees until it’s too late to recover the money you lose.
If you’re going to invest, be aware of expense ratios, transaction fees, and front-end or back-end fees. There can even be custodial or accounting fees. Not all of these fees are easy to track down especially when they are pre-packaged within various investments or funds so you simply see a net return.
Even when you just have money in a bank there are possible fees so it pays to be vigilant and strategic about how you save money and where you save your money.
Best known as a billionaire tycoon and a hostile corporate takeover entrepreneur, T. Boone Pickens was an amazing person with great financial sense.
But in 2008 one of his ideas crashed. Pickens had helped Oklahoma State University buy life insurance through Premium Financing. After the 2008 crash T. Boone Pickens stepped in personally to bailout OSU and they still lost the life insurance.
Today you’ll see a lot of people encouraging premium financing on the internet or in seminars. Unless you have deep pockets or a rich benefactor like T. Boone Pickens it’s much better to stick with a “comfortable and affordable” strategy for funding your life insurance assets. If Premium Financing was a wildcard for T. Boone Pickens, what makes you think it could be different for you?
Resources:
Premium Financed Life Insurance: A Risky Endeavor
Today is #InternationalPodcastDay! And we have a winner for the Beats Solo3 Wireless headphones - announced during this show.
Thank you for participating in the WealthTalks celebration sharing your favorite podcast shows!
And some of you went above and beyond sharing more on how you use your policies + asking questions for the WealthTalks show and leaving reviews on iTunes & Stitcher. We appreciate you!
Hear an answer to 4 of the many great questions you asked through the celebration entries:
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How do you decide when to take a policy loan or when to use outside money?
-
At what point do you become maxed out on your life insurance coverage?
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How can this concept be integrated with real estate and business cash flow strategies?
-
What is the fastest way to pay down debt?
Resources:
How Life Insurance Works - Human Life Value Calculation
How do you maximize growth in your policies (and outside your policies) with strategies like the Infinite Banking, Bank On Yourself or The Perpetual Wealth Code™?
This can depend partly on how your policies are designed. If you have a policy that is “maxed out” under the Modified Endowment Contract rules you might not be able to maximize the policy much more. What then?
When your policy growth and guarantees are maximized it’s time to look to your money management for the optimal growth opportunities. Listen for details on the balance to make this all work for you so you can stop losing money and keep more of the money you make.
Celebrate #InternationalPodcastDay this week by sharing your Favorite Podcast Shows and entering to win a set a Beats Headphones on September 30th:
Enter to Win here - #InternationalPodcastDay
Many budget systems give you a good feeling as you start, but cannot produce the sustainable results you need to build real prosperity. As an example take Senator & Presidential candidate Elizabeth Warren’s book which recommends a 50-20-30 budget system.
This budget system reminds you of a typical government budget when you realize that only 50% of your income is allocated to necessities that require 60% of an average American household income. Oops!
Maybe you could fit necessities into 50% of your income, especially if your income is above average, but this is not a great plan for keeping more of the money you make OR building prosperity.
Better start with something you know will be sustainable and a plan to NOT lose the money you save. Try the 10-20-70 system and make sure you “pay yourself first”. This system has been around for a long time. You know it will be sustainable and if you can save more than 10% (or 30%) of your income, all the better.
Resources:
See how the 10-20-70 Budget System Works + Get the Worksheets Free
Special guest Dustin Mathews from WealthFit has seen people MAKE a lot of money in the Speaking & Marketing world, but KEEPING that money is another story - they usually don’t. Yes, there are shooting stars that burn brightly for awhile and they burnout too.
It’s good to ask yourself, from time to time, whether you want to stay on the path you’re traveling or if, like Dustin was, you’re addicted to the search for a BIG payday that never comes. Don’t simply follow a primrose path to the detriment of real wealth in your life. Make sure you create sustainable results for yourself and your family.
Dustin has repurposed his life to make more time for family and the things that really matter. And he hasn’t neglected Money either because money is an important part of Wealth.
Hear how Dustin has used his whole life policy + a lesson he learned that could save you money on your next vehicle purchase.
Resources:
Get your cabin on the Wealth Cruise: Cruise Information here or call 702-660-7000
Get the McFie’s WealthFit courses here:
Wealth That Lasts - Dr. Tom McFie
Getting Out of Debt - Michele and John McFie
Note: When you get these courses there is an optional upgrade to access ALL courses on the WealthFit platform. If you try that, but decide not to continue after the free trial be sure to check that it doesn’t renew automatically anyway. This seems to be a technical problem which the WealthFit team is still working through.
Disclaimer: Life Benefits does not recommend or endorse any other WealthFit courses, content or strategies.
Compounding is wonderful when it’s working continuously for you - and not so wonderful when large losses interrupt the process. But you don’t have to lose money if you don’t gamble with risk. ♠️
You can’t always trust what people tell you to do with your money, but you can watch what wise people are doing with their OWN money. Warren Buffet says to be “Fearful when others are greedy and greedy when others are fearful.” Stock-piling cash when other people are greedily chasing the market, can be a great strategy; then instead of gambling with risk you can take more calculated risk (if & when you wish) and you can secure a compounding foundation of guarantees.
Start with guarantees and you can build a financial portfolio with both guarantees and results from calculated risk. Start by gambling with risk and you will never see the full potential of guarantees in your portfolio.
Disclaimer: Life Benefits its agents, and representatives are not authorized to give investment, legal or tax advice.
Few people in the world can define and highlight, social paradigms so clearly as Krish Dhanam, your special guest on this show. Krish is entertaining as he brings a wealth a knowledge and understanding of multiple world views, into wonderful perspective so you can apply the lessons in real life.
You might be thinking: “Why are you talking anthropology on a Wealth podcast?” Because, Popularity ≠ Truth and the popular definition of truth as something relative, is a social issue of our time, with far-reaching reverberations; absolutely affecting your wealth and prosperity.
Creating wealth requires you to connect with people. When you connect with people it’s important to find common ground where you can agree upon certain absolute truths in order to work together effectively. When you understand different world views and how people are thinking, you’ll be able to make more quality connections. Some people do this instinctively. When you understand the process consciously, it is empowering and exciting.
Resources:
Wealth Cruise October 19-26th in the Eastern Caribbean
Strife over money is the #1 reason couples bring up as they file for divorce in America. The amount of money involved doesn’t seem to be a significant issue, nor how money is saved or what is purchased, but rather how one spouse (or both) makes the other FEEL about money.
You see, blaming money is an easy way out. Communication around money is often the key problem, and this requires both spouses to take responsibility for at least part of the problem. Good News! A communication problem can likely be resolved so the differences you do have (and will have) about money will seem trivial in the end.
On this show you will hear ideas for communicating with your spouse about money matters. You’ll hear why you should NOT try to “change your spouse” or share everything “equally” and why the His/Her money option is not a good way to cope with a problem.
Even if you’re not married, the material in this show can help you become a better communicator and to get along better with more people.
Do you have a marriage with successful communication around money? Please share your thoughts in the comments below or write in to podcast@wealthtalks.com
Resources:
Wealth Cruise October 19-26th in the Eastern Caribbean: https://www.eventbrite.com/e/7-day-wealth-cruise-seminar-tickets-56010515961
Truth has been so distorted, and redefined in our world that it’s easy to wonder if there really is absolute “truth” anymore. Experts tell people to embrace a new world 🌎 where everything is “relative” to everything else - a world where Opinion trumps Fact and nothing is totally certain.
This is a corrupt idea with dangerous consequence for your prosperity and wellbeing. The issue is politically charged too with far-reaching effects into education, interpretation of history, nationality, and a redefinition of family and individual rights. These elements are ALL important if you want to realize full prosperity and financial wealth in your life.
The financial world is no exception: Average and Actual Rates of Return are confused and promoted along with a myriads of assumptions and sleight of hand reporting practices which lead to outright guessing and fabrication around most financial projections.
Remember to pause and think through information before choosing your position. This isn’t a simple feel-good choice, like which sports team will be your favorite - this is about your wealth, prosperity and the world you want your children and grandchildren to live in.
Resources:
“The Dress” - Is it White and Gold or Blue and Black?: https://en.wikipedia.org/wiki/The_dress
In the 1970’s DMSO was very popular with athletes🏃🏽♂️but you had to go to the vacuum store to get it. Where is DMSO today? What about other Fad remedies that come and go?
You can see a similar pattern in the Financial World too. Fads come and go, the Guarantees stick around through thick and thin. Some fads are harmless, but many times the smartest thing you do with a Fad is - avoid it. Just because “everybody is doing it” doesn’t mean that automatically becomes a good thing to do. Processionary caterpillars provide a great example on how this habit can be fatal.
When it comes to your money, don’t let an overnight fad burn out, taking your life savings along with it. Always make a point to look deeper than the superficial excitement around any proposition.
Resources:
Order Doctoring Data by Dr. Malcom Kendrick on Amazon.com:
https://www.amazon.com/gp/product/1907797467/ref=as_li_qf_asin_il_tl?ie=UTF8&tag=lifebenefit09-20&creative=9325&linkCode=as2&creativeASIN=1907797467&linkId=abd39d49d531ff6552edeebead064532
Black Swan Video Summary by John McFie: https://www.youtube.com/watch?v=5K74rH0OriI
Life Insurance, Index Funds, Mutual Funds, Low Fees, Lower Fees, - hey even Negative Fees now! 💫 Risk, Risk Management, Risk tolerance... how in the world do you know what to do, let alone know how the results will turn out?
Only by building on a foundation of Guarantees can you navigate the financial world with any sort of confidence. No mortal can tell you exactly how the future will turn out. Accept this truth and protect yourself from volatility, then take a cue from 🍔 Burger King and 🍟 McDonalds, and you’ll be able to bypass most financial advice (and shenanigans) no problem.
Truth can be tricky to search out; it is very simple and logical when you find it. Manage your own money and this can mean lots of extra $ that stay in your pocket rather than subsidizing superfluous money managers.
In this episode:
Life Insurance Companies are updating their products for the latest 2017 CSO Mortality tables (CSO = Commissioners Standard Ordinary). The previous major CSO tables were assembled in 2001. There are some changes that will affect new policy values because people are living longer now. Listen to hear what these changes mean for you.
Special history on the Apollo 11 astronauts! (timecode: 4min 37sec) 🚀 As we celebrate their achievement with the Moon landing 🌙 and their safe return to earth 🌎 50 years ago this week, it’s a great time to reflect on how the astronauts planned for their families just-in-case they did not make it home alive.
These 3 heroes could not qualify for Life Insurance, but they did have the brilliant values to protect their families before they left on the dangerous and historic trip to the Moon.
Deferral has been called “magic” 🎩 in the financial world. Deferral can help you accumulate more money, but will it actually provide you more money to use? This is a gamble on where tax rates could go and how the market might perform.
Where are taxes going in the Future? Listen for what you should consider before jumping on the Tax Deferral bandwagon. Just because “everyone is doing it” doesn’t automatically make deferring your taxes the best thing to do.
Right now, Congress is contemplating changes to deferral/distribution rules such as the “SECURE” Act which has passed the House of Representatives and sits in the Senate. If you have deferred taxes over your lifetime, it’s worth considering the possible outcomes while there’s still time to make some changes before you actually need the money.
Don’t gamble with your with your financial future! Make sure you have a guaranteed foundation of at least some money you can access tax-free. This gives you better options for your Passive Income and providing a legacy.
Resources:
The Big Bank Bailout - Forbes.com Article
Come on the Wealth Cruise October 2019 - Link
Did you know that nearly 3 out of every 10 people provide care for chronically ill, disabled or aged members of their family? 😨 It’s true, and more than 1 out of 10 of these family caregivers provide 40 or more hours of care per week!
Whether you’re directly providing this care or financing the care for your family - this can really affect your finances FAST. But your retirement and legacy shouldn’t have to suffer for this important priority IF the family plans ahead.
Don’t wait until it’s too late. Explore the options and get perspective for your family plan.
There’s a good case for Adult Children to Insure their Parents, but this isn’t always possible. Even if parents don’t want to leave a legacy, the best solution includes a way to restore the financial burden resting upon family care-givers (or care-financiers).
Resources:
The Case for Insuring Parents and Loved Ones - Article on InsuranceNewsNet.com
Get a Life Insurance Quote
Wealth Workshop in Bellingham, Washington July 27th
Wealth Cruise October 2019 - See Event Details
Happy Independence Day! 🇺🇸 It's a great time to consider how you exercise your Financial FREEDOM.
Financial planning used to be simple. Today there are infinite possibilities - some good - some bad.
You want sustainable Passive Income in your Golden Years? Now is the best time to optimize your money - create stability and better options for the future.
This is not as hard as you might think. Traditional tools with solid guarantees are still the best way to build your foundation.
Also a follow up to last week’s show… people say “you won’t need a Life Insurance Death Benefit” in the future - discover why this is probably not true. Of course a life insurance death benefit can be income tax free, but that’s not all. Listen and discover another role where a permanent death benefit can become a unique planning tool for your future and passive income.
Resources:
How Much Will You Need for Retirement - Podcast
Retirement Remastered - Smart Strategy for Passive Income in Your Golden Years - Article
Wealth Cruise October 2019 - Info Link
Coming soon - a video bringing unique perspective to how you want to manage your finances. Subscribe here for updates
A L Williams popularized the concept of “Buy Term and Invest the Difference” in the 1970’s. When market returns are looking good this concept seems to make a come-back even though it’s flawed with big assumptions.
They say you won’t need a death benefit when term insurance gets expensive. They say your investments will do better than whole life insurance. Maybe, and maybe not.
You want guarantees? Then you want to build a strong financial foundation with guarantees before you invest. Investing isn’t bad, but don’t throw away guarantees for speculative possibilities.
Resources:
Buy Term and Invest the Difference? - Video Example with ROR
How to Build a Secure Financial Foundation - Video with Ben McFie and a Donut Stack
Catch this Special Interview with Alex. Alex contacted our office for some policy reviews after his agent told him “let policy loans pay your premiums.” This started in the 90’s. 20+ years later results are plaintive.
These were (and still are) good policies, but the funding strategy backfired. Policy loans can enable you to take great financial opportunities without giving up guaranteed growth + dividends on your money, and like any good strategy this can be taken too far.
Good rule of thumb for Policy Loans = Make sure you’re always making or saving more money than the interest when you take a policy loan.
Can you use a policy loan to pay a premium if you’re in a cash flow crunch? Of course, just don’t make this your long-term habit. DO make sure you’re always aware of the interest on any and all policy loans that you take.
Plan to review your strategy regularly - about 1x year is a good idea. Contact Life Benefits for a complimentary policy review.
Most public facing insurance companies today are organized as stock-held companies. 🏢 Many mutual carriers have reorganized as mutual holding companies.
What does this mean for you? Example: You get a whole life policy from a mutual carrier. BUT then the contract says your policy was issued by a stock company! You still participate/receive dividends + have voting rights as a mutual policy holder, so what just happened?
No cause for alarm. If you chose a mutual holding company, this is normal. Here’s how a typical mutual holding structure works and what you should know as a policy holder with a company organized in this manner.
Topic #2: What is the 7-pay test?
One of you recently asked a question about the 7-pay test. Today you get the answer + hear why some people intentionally want policies that are Modified Endowment Contracts. And yes, this does make sense sometimes.
Resource:
Here’s the link to order Winning Your Financial GAME - Book and Study Guide
Some gurus say you can “make money” by taking a vacation financed by a policy loan, but is this really true? 🤨
Taking a vacation is an obvious expense - there is a cost - at some point you have to make the money to pay for your vacation.
Here’s how to tell the Facts apart from Fluff. Yes, you can “Recover/Offset” money on your next vacation… and it also takes TIME.
Checkout How to Recover Thousands on Your Next Vacation - Article for further info with a numeric example.
When it comes to your Homeowner’s insurance 🏠…
- How many times have your filed a claim in the last 7-10 years?
- Do you usually file small claims (say under $5,000) or take care of them out-of-pocket?
- What is your deductible?
Your answers to these 3 questions could help you save on your premiums in the future.
Resources:
Get Your LexisNexis Personal Report
To Claim or Not To Claim - Article
More About Umbrella Insurance (including Average cost) - Article
Some advisors tell you to Buy Term Life Insurance and Invest the Difference, but there is a better way (no secret). 🤔
Some advisors tell you to Buy Universal Life Insurance (UL, VUL, EIUL or IUL variants), but this is really a pre-packaged form of the same strategy 🎁 - Buy Term and Invest the Difference. There’s still a better way!
We tell you to buy Whole Life Insurance with a strong PUA rider (Paid Up Additions) + maybe some convertible term insurance (separate policy)…AND you will hear WHY this is the best way to go. When all the pieces come together it just makes sense! You want to keep your options on the the table as fully and as long as possible, and you remember Warren Buffet’s first 2 rules: #1 Don’t Lose Money; #2 Don’t Forget Rule #1.
Also on this show a quick review of how long you should think of keeping the PUA rider on a Whole Life Insurance policy for the best results.
Resources:
Do You Have a Friend Selling Indexed Universal Life Insurance? - Podcast
Nassim Taleb - Author, Investor & Philosopher
Should You Have a Term Rider? - Video
Did you know, that successfully avoiding risk can be more important to your wealth than finding great returns? ⚠️ But most people (including financial planners) think they can “manage risk” when they’re simply hiding the risk instead. Don’t let this bite you.🦈
Learn from a real-life story of Steve Wynn’s Mirage Hotel & Casino + the fact that “In the last fifty years, the ten most extreme days in the financial markets represent half the returns. Ten days in fifty years!”
In 1911 the Supreme Court ruled Life Insurance was a Transferable Asset, and Justice Oliver Wendell Holmes wrote the court opinion saying life insurance is one of the “…best recognized forms of investment and self-compelled saving.”
Discover how you can manage risk through whole life insurance in a way that’s impossible through the Stock Market alone.
Resources:
Supreme Court Ruling Grigsby v. Russell (1911) - On Life Insurance as Transferable Property
How to Read a Life Insurance Illustration - Video
The Black Swan - book by Nassim Taleb
You will hear all sorts of fluffy marketing terms when it comes to building wealth with life insurance. 🎧 Listen for tips on how to cut through to the real meaning and understand the keys to manage your money wisely.
A good litmus test that still holds true = “If it sounds too good to be true, it probably is.” Of course Truth does provide amazing results, AFTER the foundation has been laid. Good things take time to grow.
It’s not so much about the money you SAVE - its about the Money you KEEP and there is a big difference! Not all advice is applicable for all levels of financial strategy - This is one lesson that will always help you stay on track at every level of your financial journey.
Resources:
How to Read a Life Insurance Illustration - Video
Life Benefits Website - Blog, Podcast, Videos
Are you having to pay more income tax for 2018 than you planned?🇺🇸 Jack Cohen CPA joins us for a quick interview to share what he’s seeing as 2018 returns are processed.
You may not be getting as big a tax refund this year because of the way withholding is calculated under the new law...instead, you most likely keep more with every paycheck. The IRS will be releasing a new W-4 form later this year which could complicate withholding for employees.
Most Americans are indeed paying less federal income tax overall UNLESS you live in a high-income/property tax state like California, New York, New Jersey or Illinois.
Section 199A of the new law is great for business owners, but there are special situations CPAs are working through for the first time. Small changes can significantly affect your bottom line and calculations can be complex. Good idea to get a second opinion if your 2018 return doesn’t seem quite right.
Contact Jack Cohen for a Free Review of your tax return - no strings attached: 702-255-2330
Resources:
2017 Law Cut Taxes for Most Americans - NY Times
Campbell Jones Cohen CPAs - Website
Similar to a 1031 exchange in Real Estate 🏘, a 1035 exchange lets you avoid tax and transfer your “cost basis” when exchanging life insurance policies.
Do you have a policy that isn’t performing the way it ought to be? Is your insurance agent wanting you to exchange into a new life insurance policy? Should you do this?
Here’s an overview with Pros and Cons and what you want to know to decide whether a 1035 is the best idea for you.
Also some clarification around when it makes sense to take a policy loan - triggered by a recent conversation with Dr. Jim.
Thank you Dr. Jim!
Resources:
Atlanta Workshop - May 4th 2019
How to Read a Life Insurance Illustration - Video
🛳 Come experience the Wealth Cruise Oct 19-26th 2019! Launching from Ft. Lauderdale, FL and touching ports in St Thomas, Grand Turk, Half Moon Cay, and San Juan you can expect delightful destinations with beautiful blue waters AND…
You’ll get to hear proven practices for wise Money management, strong Family Relationships and good Health from the McFie Family, Krish Dhanam and Dr. John Bergman. This will be an experience much different than the Wealth Summits!
Cabin prices start at 1,698 (double occupancy). Only 350 deposit per cabin is required to reserve. May 1st is the soft deadline. This means prices can go up after May 1st and availability is not guaranteed. Reserve your cabin now and start looking forward to this one-of-a-kind experience.
Contact Anila Dhanam to reserve your cabin: 469-261-6067
Contact Life Benefits for general cruise questions: 702-660-7000
Resource Links:
Wealth Cruise Info
Interview with Dr. John Bergman - Podcast Archive
Interview with Krish Dhanam - Podcast Archive
Wikipedia reveals 91 different types of insurance 😲 - many of them you will never need. Life Insurance gets high attention on this show with good reason. There is a place for other types of insurance too.
Did you know there is insurance that will pay you an income if you become disabled (Disability / Disability Income Insurance)? There’s also insurance to help cover expenses for Long-term care such as Assisted Living. Today John and Gracine McFie share what you should know about these 2 types of insurance.
Call for personalized quotes: 702-660-7000
Resources:
More info on Disability Insurance - www.ProDisability.com
- What’s the difference between direct and and non-direct recognition? Does it matter? 🤷♀️
- How does Re-insurance protect policy owners and beneficiaries?
- An inside perspective on Artificial Intelligence (AI) coming into underwriting processes.
- Official Ratings versus strong financials and Capital Surplus.
Special Interview with 2 Vice Presidents of Ameritas Life Insurance Company: Rob Sharp and Kelly Halverson
(Kelly is also an Actuary - one of the scientists who crunch the numbers behind life insurance)
Ameritas provides a great selection of whole life and term life insurance policies with strong guarantees.
Questions answered, big words made easy + an inside perspective on what it takes to make strong guarantees for policy owners at Ameritas.
Resources:
Ameritas 2018 Annual Report - Open
Ameritas Financial Highlights - Web Link
Direct of Non-Direct Recognition: What Difference Does it Make? - Blog
Come behind scenes and hear the reasoning around insurance company ratings, portfolio management, dividends and what it all really means for you in this special interview with Karl Kreunan - Vice President of Ohio National Financial Services.
Karl makes detailed life insurance topics easy. “Life insurance is a significantly underutilized financial asset” - use it in your life and enjoy the financial security it will provide for you and your family.
Astronaut Neil Armstrong knew the value of life insurance, but he couldn’t get any before his trip to the moon because of the high risk. Find out what he did instead.
Call us for a personal strategy session: 702-660-7000
Resources:
Ohio National’s 2017 Annual Report - Open
You will love this entertaining and useful example of a 5% average rate of return! 😯 And you’ll never think the same way about AVERAGE returns again.
Explore how returns work in life insurance and what type of life insurance works best as a guaranteed foundation of protection and savings for your family. Information is everywhere today, but real
Knowledge and Understanding are the keys 🔑 you’ll need to win big because at the end of the day it’s not all about how much money you can MAKE, rather how much you KEEP.
Make sure you are playing the LONG GAME.
Resource:
How Life Insurance Works - Video
When first hearing about The Perpetual Wealth Code™ you might wonder if you need to do something else first. Do you need to SAVE first? Or PAY OFF DEBT first? Or should you INVEST first so you have more money to do the Perpetual Wealth Code™?
Discover what you should do first and what comes next on the best road to financial freedom. It all makes sense when you get the full perspective.
Call us for a private strategy session to gain perspective on your finances and how the Perpetual Wealth Code™ can work for you: 702-660-7000
ALSO IN THIS EPISODE: A recent caller with maxed out credit cards 💳 wants to retire in 5 years by investing in Real Estate. 🏠 Is is it possible? Listen to this episode to hear the details
Recent questions reveal a natural perspective around using participating whole life insurance to build your wealth. Discover how policy loan interest works, what “backdating” means and what the “break-even” point means for you and your wallet.
In the second half of the show, you’ll learn the power of the Perpetual Wealth Code™ and tips for managing money in your financial toolbox.
Resources:
Definition of the 7-pay period
Dividends Explained - Podcast
Everyone knows life insurance companies make good money, and they don’t share profits with all policy owners. Neither do all policy owners get equal benefits from guarantees provided by life insurance companies.
Discover what’s going on behind the scenes with company structure, and policy design. Armed with this knowledge you can maximize your guarantees from certain life insurance companies and share in the profits of the insurance company as well.
A good Life Insurance policy can be a wonderful financial tool once you sort through the fluff to reveal the real solid products that are available.
Did you know there have been 29 market corrections of 10% or more over the last 50 years? That averages out to more than one every 2 years and this volatility can play havoc with your financial security UNLESS you build a strong foundation of GUARANTEES first.
Investment opportunities are nice, but don’t let them lure you away from building your all-important foundation. Build your foundation first and then the world becomes your oyster.
4 Steps to Wealth in order of priority = Protect, Save, Manage Debt, Invest (notice Investing comes last)
Call for your personal strategy session: 702-660-7000
Filmed on location in India 🇮🇳, with a top-quality production spanning 5 continents - The Least of These (movie) 🎬 was released in US theaters February 1st 2019. It is a story of compassion, desperation, truth, deception and forgiveness.
Hear first hand from Krish Dhanam as he takes you behind the scenes and reveals the journey of this amazing project and what the message means for you. You see, life and wealth are 3 dimensional and you have to get all 3 dimensions right to be a complete success.
Be sure to see this film while it’s in the theaters and we hope you can join us for the Wealth Cruise in October 2019!
Resources:
The Least of These Movie - Find a Theater Near You
Starring actors: Steven Baldwin, Sharman Josi and Shari Rigby
iForgive.com
Call 702-660-7000 for info on the Oct 2019 Wealth Cruise with Life Benefits and Krish Dhanam
There’s a big difference between quality motivation and high-pressure sales tactics often used by insurance salespeople. Here’s what you need to know to discern the real deadlines so you can be comfortable with this important purchase.
There’s no excuse for hhigh-pressuresales tactics, but neither is there any excuse for procrastination.
Call our office for a no-pressure life insurance experience, or a second opinion on your current policy: 702-660-7000
2019 Workshops - See the Current Schedule
Financial entertainers 🤑 will tell you that you need to “cut out your coffee” ☕️ to get out of debt, save for your future and become a millionaire!
Maybe that’s true for them, but is it true for you? BALANCE is key. Discover how to balance your financial life so you can save with sustainable guarantees, get out of debt and achieve your dreams without sacrificing your quality of life.
The basic recipe is simple. Your details are unique. Call us for assistance with your strategy to get out of debt and move beyond just “debt free” to “financial freedom”. 702-660-7000
Resources:
10-20-70 Cash Flow Balancing Worksheet - Download here
Prescription for Wealth ebook - Download here
Grandma’s Coffee Can - Order here
There’s a lot of “alphabet soup” 👀 surrounding HRAs (Health Reimbursement Arrangements), HSAs (Health Savings Accounts) and FSAs (Flexible Spending Accounts)…even people who are really smart managing money don’t always realize the potential of using these tools to save money.
When it comes to HRAs there’s a traditional 105 HRA and also the QSEHRA which provides great options for small business employers & employees. Now there are some new plans on the horizon for 2020 like the ICHRA and EBHRA.
Listen closely as special guest Jack Hooper from Take Command Health clears up the “alphabet soup” around all these tools so you can successfully navigate this part of your financial world and save more money than you ever thought possible.💰
Resource Links from Take Command Health:
Small Business HRA Strategy Guide - Blog
Impact of the New Proposed HRAs (ICHRA and EBHRA) - Blog
QSEHRAs for Small Business Owners - How to Start
You may remember the iconic character, Mr. Toad the motorcar fanatic 🚘, from Kenneth Grahame’s classic Wind in the Willows. What you may not know is how to recognize wild Mr. Toad rides in the financial world.
2 new Debt Bubbles have been growing since the subprime lending crisis around 2008. Combined there are over 10 trillion dollars and many Americans directly exposed. Now the Federal Reserve is raising interest rates - could this pop the bubbles? 📌💥
Don’t be caught by surprise. Listen for the details should know and how to protect yourself with a solid financial foundation.
Did you know Southwest Airlines made a profit every year while other airlines were struggling in a post 9/11 world? ✈️
Could war strategy books help you become a better money manager? ♖
Practical people know that truth in one area of life can often be reapplied to other areas of life with the same success. So can lessons from failure. When it comes to failure, it’s always better to learn from other people’s failure than from your own.
Resource Link: Facebook LIVE Jan 2019 - 6 Things You Need to Avoid Financially
Did you know that 2018 was the worst year in the US stock market since 2008?
Learn from 2018 and build a resilient toughness 💪 into your financial future for 2019 and beyond. Happy New Year!
Read more about the value of a Volatility Buffer in retirement here
Call 702-660-7000 for your personal strategy session.
Did you know that Warren Buffett’s first business venture started at age 6? And at age 11 he was working in his father’s brokerage firm.
Listen for the story and why it’s so valuable for children to learn wise money management values as soon as possible.
Get the 2 children’s books by Gracine and Anna McFie here on the Life Benefits store. https://www.life-benefits.com/store/
Also on this show - a question Dr. Bret about pre-payment penalties on business loans and some thoughts on when it’s good to take a policy loan.
But IUL is no way to get great guarantees on your money. If you want to help your friend, you might even be able to pay them the commission they would have earned if you bought the policy from them, and still come out ahead! 😳
IUL is a hybrid insurance product based on term insurance where the cost of insurance is increasing every year. Discover why guarantees from Whole Life insurance are better…and if you really want to invest in the index fund, go ahead and invest directly so your growth isn’t capped. 💰
Also on this show - a request from a Wealth Talks listener on Social Security: What might happen in 20 years and should you be worried about not contributing more?
Shopping for Christmas, Birthdays and other celebrations can be fun, and sometimes tough too. Some people go into debt this time of year.😟 And maybe you can’t find a gift that really expresses the love you feel for someone.
Here are some tips to keep your shopping fun, enjoyable and fulfilling for true wealth in all aspects of your life. Remember that the most important things in life aren’t things. Protection and security for the future is one of the most meaningful gifts you can give to your family.
Also hear the real-life questions coming across our desk and catch useful ideas for your own situation.
Want some help or a fresh perspective? Call 702-660-7000 and ask for a private Strategy Session.
Resources:
2019 Document Workshop Info & Schedule
Watch Attorney Lee Phillips on how to build a strong Legal Foundation
13 years ago we came home to Robbers in our House. What we learned, would change our Life and Financial Thinking forever
It was a dark, drizzling dreary November evening 13 years ago, when we came home to Robbers in our house!👺
They got away with many things…some which you can never replace. The cleanup process was emotional, but also helped change our thinking. For example: If the thief didn’t take _____, is it really as valuable as we think?
During the cleanup process, Michele ran across a letter that ended up introducing us to Participating Whole Life Insurance and complimentary wise money management strategies.
In the financial world, you can be robbed without realizing it until later in life. Fees, taxes, and inflation all take a bite out of your pie.
The average Rate of Return on Social Security is only about 1.23%. Sometimes investments aren’t any better.
Listen to this episode for the full story and learn how you can improve your strategies on life and building wealth WITHOUT getting robbed.
Resource Links:
Visualize a $100,000 investment earning 6% for 30 years MINUS Fees, Taxes and Inflation
Watch Attorney Lee Phillips on how to build a strong Legal Foundation
ROR on Social Security is only 1.23% - Article on FoxBusiness
Premium Financing promotions seem to be all over the place today! But with so many moving pieces 🎲 are they really the best idea for you and your family??
Here’s what you need to know to secure a golden financial future 🔑 - from simple budgeting for extra expenses (like a new transmission) - to the best way to plan for life insurance premiums. You are listening to Wealth Talks 🎧
More info on Premium Financing:
Premium Financing (Stacking and Laddering Policies) - VIDEO
Premium Finance - BLOG
Many people are looking beyond traditional health insurance to faith-based healthcare sharing ministries. ⛪️
Not only can you stand up for the healthcare values you believe in, but you can often save money too.
Since the Affordable Care Act requires health insurance to cover pre-existing conditions, traditional heath insurance premiums have skyrocketed🚀 Participating in a healthcare sharing ministry is often much less expensive than traditional insurance because these groups CAN make exclusions for pre-existing conditions!
So what options are available? Here’s a quick comparison of 4 popular Christian-based sharing ministries. This is great place to start your research.
Resources:
Traditional Health Insurance Shopping Info by State - Written info from Take Command Health
How to Save Money on your Health Insurance - Podcast
Ministry Sharing Guidelines:
Medi-Share - Christian Care Ministries (CHM) Guidelines
Samaritan Ministries Guidelines
Christian Healthcare Ministries (CHM) Guidelines
Liberty HealthShare Guidelines
Here’s our list of Pros/Cons/Noteworthy points per ministry…
Medi-Share by Christian Care Ministry (CCM):
Pros:
-
No annual, per-incident, per-person or per-lifetime sharing caps
-
Free 24/7 access to virtual providers via MDLIVE
- Bill Negotiation
- Simple, Easy-to-understand Guidelines
Cons:
- More per-visit fees: $35 per doctor visit or hospital visit, $135 for emergency room visit
- Services outside of network adjusted to “usual and customary charges” - may not all be covered
- Does not work in Montana
Noteworthy:
- More options for a higher “Annual Household Portion” (like a deductible) than some available - maybe offset by higher overall cost/fees?
- Separate Senior Assist program available - like an extension (not supplement) of Medicare Parts A & B
Medi-share Pricing Calculator - Link
Medi-share - Request Info Link
Please note: We use Media-share personally and thus know more about this ministry than some of the others. See what people are saying about other sharing options below.
Samaritan Ministries:
Pros:
- Broader range of expenses allowed for sharing such as Chiropractic and Homeopathic care
- $300-1,500 sharing threshold per member
Cons:
- Seems to have more conditions and small things to pay attention to - they have made a nice effort to simplify with some visual breakdowns in the PDF version of their guidelines
- 250k per need/annual sharing limit
Noteworthy:
- Direct Sharing to individual members versus Automatic collection and payout by the sharing ministry
- Save to Share program does provide a way to get unlimited sharing - read guidelines for details
- Sharing cost seems higher for people in 20-30’s age range?? More than the McFie family adult children are paying with Medi-share currently, but we also choose a high AHP - hard to say how the differences work out.
Christian Healthcare Ministries (CHM):
Pros:
- Low sharing prices
- “Like family” experience - see what people are saying below
Cons:
- You handle most of the bill negotiations - they do provide resources to help
- 125,000 per diagnosis sharing limit + 100,000/yr with the Brother’s Keeper add-on - still limited annually per-diagnosis even with the Brother’s Keeper option
Liberty HealthShare:
Pros:
- Low prices
- Less strict Christian Lifestyle requirements
Cons:
- The sharing guidelines read like a legal document - terms and conditions seem more complex
- 125,000 to 1 million sharing limit per incident
Noteworthy:
- A Case Worker may assigned on “serious cases” to suggest Alternative treatment options - cooperation is voluntary but your actions may affect what expenses they are willing to share
What People Are Saying
A big THANK YOU to all of you who wrote in on this subject! Your responses were very helpful in this review, and we have chosen a few to share with everyone in this post.
Samaritan Ministries:
Amy says:
We use Samaritan Ministries because it seems like a more Biblical approach to healthcare - giving directly to brothers and sisters in Christ in need, and not indirectly funding abortion.
We chose this one over another big one - I forget which, but it's based out of Florida [probably Medi-Share run by Christian Care Ministries - they are based in Florida] - because that one was going to require my husband to get written doctor's permission to work out, and they were going to charge more for having high cholesterol. Samaritan is more user-friendly.
We are, however, open to looking into Christian Healthcare Ministries because I think it may cost less and people we know seem to be pleased with them, too.
Dr. Donald says:
We use Samaritan Ministries the past couple of years. We like the idea of sending money directly to those in need.
However, I'm thinking about dropping it because of the expense. I am covered by Medicare part A but haven't signed up for Part B - I know I will be penalized if and when I do.
Katherine says:
We have been using Samaritan Ministries for about 5-years now. We send our monthly "Share" directly to participants in need. I love that my check is written out to a person!! This is done for 10-months; the other 2-months are sent to SM for admin costs. We started out at approximately $360 per month for a family of 2; it is currently is $440.
The only time we have submitted a need is for my husbands stem cell procedure on his knee. This treatment is not covered under traditional health care plans. SM covered it 100% after $350 deductible. The stem cell used was his own. It was completely successful and so he avoided a knee replacement. This plan is not a fit for everyone but it works great for us.
Rob says:
My wife is part of the health care sharing Samaritan Ministries. I qualify for Medicare. We decided on Samaritan because it was a little cheaper than the others we looked at and because we get a discount at our primary care facility for belonging to Samaritan.
Dr. Miguel says:
We use Samaritan ministries. I chose them over the others because they pay for chiropractic and non-traditional therapies while the others that I researched strictly stuck to medical care. My wife has used them extensively it is paid for her to have IV therapies, Rolfing, functional medicine and other non-traditional therapies for a shoulder injury. It also paid for her to have shoulder surgery and we have been extremely happy. It paid for everything.
We were able to negotiate cash fees for the services for a substantial discount which went towards the deductible that Samaritan ministries and laid out. We pay for $50 per month for my wife and I. This is substantially better than the best deal I can negotiate with traditional insurance.
Christian Healthcare Ministry:
Valerie says:
We have been members of Christian Healthcare Ministry since 2011. They have been amazingly supportive and prompt in processing any medical bills we incurred. We have chosen to be Gold level members at only $150.00/month. Any discount given by the healthcare provider is credited to your deductible. We have also been members of their Brothers Keeper program which bills quarterly only if any claims above a certain amount are received. The quarterly gift amount has never exceeded 25.00 each. There is also a Prayer Page which lists people that have pre-existing bills and members can choose to donate.
After I had a surgical procedure I received a phone call from the Executive Director to check on me. And this was during the Christmas season! They have experienced huge growth since Obamacare went into effect but have hired additional team to support the growth. We recommend this to everyone.
Dr. Gregg says:
I've been using Christian Healthcare Ministries for more than 2 years. It is very affordable and my out of pocket is minimal. I've only had one claim in these two years and ended getting reimbursed from the the entire amount I had paid to the doctors and hospital (over $1700.) I am a raving fan now.
Eric says:
We are "using" Christian Healthcare Ministries health care program. Have been "signed" up with them for maybe 3 or 4 years. We have never used or required their assistance to pay for any health care costs.
We pay $90 per month, plus $90 each quarter for the two of us. My wife is 61 and I am 63.
Shaun & Julie say:
Our family belongs to Christian Healthcare Ministries. They have been a wonderful family to us since January 2015.
Ever feel like you’re trying to decipher Mandarin Chinese when it comes to Life Insurance? 🤔
Each industry and niche has a special set of terms, and it all becomes much easier when you know what these terms mean!
Get the high-level overview today which is more than average life insurance agents know. And if you already have life insurance request a complimentary Policy Review to understand what you own.
Click here to Request Your Complimentary Policy Review
Some people love it.😍 Some hate it.😡 Explore the value of life insurance in your financial plans and how to integrate this tool to maximize your results.
The Perpetual Wealth Code™ outlines a system to build a strong foundation for your financial future.💰 Today we review this system and answer relating questions from the 2018 Wealth Summit audience. 🎤
Missed the Wealth Summit? Get Online Access to the Recording Here - $297
📞 Call 702-660-7000 to discuss your personal situation or Request a Strategy Session
Questions Answered in this Episode:
- Is Life Insurance a Good Tool for Building Wealth?
- What type of investments do the McFie’s use their policy loans for?
- How many Bank Accounts does it take to do the Perpetual Wealth Code?
- Can I borrow from a source to pay my policy/start my policy and then borrow from the policy to pay the loan back? ~ David
- What about transferring 401k money to policies?
- If someone only has 5-10 years of full-time work productivity left can this insurance concept still work for them and how? ~ Dr. Janis
Coming up next week: Life Insurance Made Easy
Half the battle is knowing what the new terminology means. Tune-in next week and you’ll know more about life insurance than the average life insurance agent! ✅
📩 Subscribe to Wealth Talks Podcast Here »
Health Insurance Made Easy with Special Guest Jack Hooper Open Enrollment for 2019 Health Insurance is just around the corner! (November 1st - December 15th 2018) Small Business Owners (up to 50 employees) have some great options to limit cost and help em
In 2019 we’ll be hitting the road for workshop events around the USA. You can submit a request for your area on our website here www.life-benefits.com/contact. Or let us know by phone 702-660-7000.
Get Online Access to the Full Wealth Summit Recording - $297 (ready by December 1st or as soon as editing is done)
2019 Wealth Cruise Details
Today on Wealth Talks, join Tom, John, and Michele McFie as they take questions from the live audience at the Wealth Summit. Learn about the Perpetual Wealth Code, Life Insurance, and advanced strategies about money.
If you ever get the dreaded “brown envelope” from the IRS, you want someone like Jack Cohen CPA on your side of the table. Jack worked for the IRS for 33 years and now represents people in front of the IRS…you could say he say he saw the light and turned back from the dark side.
Today on Wealth Talks, Jack previews some the topics he’ll be sharing at the Wealth Summit including the new limitation on SALT deductions (State and Local Income Taxes) and the 2018 tax break for business owners.
Don’t miss the crazy story about the IRS reporting one of Jack’s clients to the local 911 near the end.🤣
Special Offer compliments of Life Benefits: Contact Jack’s office at 702-255-2330 for a no-charge review of your latest tax returns.
Mark Dealy will be sharing his Perpetual Wealth Code™ journey at the Wealth Summit this year! Today on Wealth Talks you get a personal insight into 2 key factors that have contributed to Mark’s successful journey.
Come here Mark speak LIVE at the 2018 Wealth Summit - Register here
Mark Dealy owns a landscaping company in Washington state. He is also a Wealth Mentor at Life Benefits and helps people to wisely implement the Perpetual Wealth Code™. You can reach him by phone at: 360-220-6641
“So many people spend their health gaining wealth, and then have to spend their wealth to regain their health.” -A.J. Reb Materi
More and more people today are getting diagnosed with Alzheimers, Parkinson’s, ALS, Dementia and other Brain/Nerve related diseases. But it didn’t used to be this bad. What changed?
Healthcare & Assisted Living are no fun and they’re pretty expensive too - big Wealth Killers.
Dr. John Bergman will be at the Wealth Summit sharing the data and some things you can do to reverse hidden damage in your Brain and Nervous system.
Come hear Dr. John Bergman speak LIVE at the 2018 Wealth Summit- Register here
or call 702-660-7000 to pre-order the recording.
Growth and expansion is REQUIRED - not optional. Trying to keep your family or business the same size guarantees only one thing - that it will shrink.
Why does the United States print the words “In God We Trust” on the currency? Is there such as thing as an “evil corporation”?
Today on Wealth Talks, Rabbi Lapin shares nuggets of wisdom to help you Grow and Protect your Wealth.
You can meet Rabbi Lapin in person when he speaks LIVE at the 2018 Wealth Summit Oct 12-14th in Las Vegas - Register here
4 tools everyone should use in their personal legal foundation because…what you KEEP is more important than what you MAKE.💰
Special guest Attorney Lee Phillips, spent several years of his life earning an extensive college education. 6 months after graduation (age 27) he was diagnosed with Stage 4 cancer and all the golden prospects of a wonderful life came crashing down.💥
Come hear Lee speak LIVE at the 2018 Wealth Summit - Register here
Learn from Lee’s journey so you can protect yourself and your family from the worlds Wealth Killers.
Is 10% of your income enough to be saving for your financial future? Should you be saving more?
There is a way to save more by quickly converting your 10-20-70 budget to 30-70 without working any harder. Listen and Discover how.
Resource Link - 10-20-70 Worksheet
Also in this episode, find out how you can manage your large portfolio of life insurance policies easily and efficiently. Thank you Jason for writing in with this question.
Thomas Edison once said that “Opportunity is missed by most people because it is dressed in overalls and looks like work.” How true!
As Brian Tracy has observed, “Successful people are always looking for opportunities to help others. Unsuccessful people are always asking, ‘What’s in it for me?’”
At the Wealth Summit Dr. Terryl Wolfswinkel will be speaking on Opportunity and how to be ready when opportunity comes knocking. Today on Wealth Talks he gives a “sneak preview” to his valuable presentation coming up at the Wealth Summit October 12-14th 2018.
Come here Dr. Terryl speak LIVE at the 2018 Wealth Summit - Register here »
Dr. Terryl Wolfswinkel is a Wealth Mentor at Life Benefits and helps people to wisely implement the Perpetual Wealth Code™ and maximize their financial freedom and security. You can reach him directly by phone at: 515-422-4703
Growing up in Argentina in the late 1980’s, Max Ponzone started trading currency through a local exchange with a friend at age 9. Escaping the economic turmoil of Argentina his family moved to South Africa in 1991 where it all happened again.😲
Today Max lives in the United States. He trades options and has started a company called Trade Cheetah creating a tool to manage positions and integrate investing strategies to transform the way investors, find, manage and trade stock options.
Come hear Max speak LIVE at the 2018 Wealth Summit - Register here
Disclaimer: This podcast may contain expressed views and opinions of Life Benefits, LLC its agents, representatives and/or others and is not meant to constitute advice or counsel of any kind. Life Benefits, LLC its agents, and representatives are not authorized to give investment, legal or tax advice.
What a loaded question! So many variables - and most likely, some still unknown. But it is important to have some idea of where you want to go so you can plan and save to get there.
Today we explore a few high-level examples to reveal how much you might need for retirement. How much with Traditional Investments? How much with whole life insurance? Plus some other options that are available to maximize income from your assets.
Results can vary widely from case to case so we encourage you to contact our office for specific details on your situation. 702-660-7000
Resource Links:
Retirement Remastered - Article: https://www.life-benefits.com/retirement-income-strategy/
Withdrawal Projection Calculator (Excel)
https://www.life-benefits.com/wp-content/uploads/2018/06/Withdrawal-Projection-Worksheet.xlsx
Dividends Explained - Podcast: https://www.life-benefits.com/podcasts/dividends-explained-ep-89/
CDC Life Expectancy Table (page 3)
https://www.cdc.gov/nchs/data/nvsr/nvsr66/nvsr66_04.pdf
With the stock market raging, unemployment being lower than it has been in years, and the economy performing better than it has for a very long time, many are asking, “How does this effect my financial future?
The Perpetual Wealth Code™ was designed, much like Vanguard Mutual Funds were designed, to produce profits for Main Street and NOT the vultures of Wall Street. That is because even while Wall Street roars, Main Street groans under the risk that it is forced to carry. Yet, with the Perpetual Wealth Code™ Main Street whirrs right along under no burden of risk regardless of the risk Wall Street creates. Boom or bust, Bull or Bear, there is little that consequential effects those on Main Street if they are actively participating in the Perpetual Wealth Code™.
Learn more about the Perpetual Wealth Code™ here: https://www.life-benefits.com/perpetual-wealth-code/
Contrary to Dave Ramseys' recent claim, Millionaires DO use Life Insurance to Grow and Protect Wealth. Let's take a look together at some real-life examples that debunk Dave’s misapplied data.
Level 1 thinking is emotional, easy and used by everyone. Level 2 thinking is logical and somewhat lazy. There is almost always more under the surface of success than any casual observer will see. Discover the why behind the how of using this knowledge to think like the Wealthy.
Ben McFie joins us on Wealth Talks today to share a wonderful example on Thinking and story from Zig Ziglar on the Wisdom of the Ages.
Please call or email us with your questions for this podcast: 702-660-7000 or team@life-benefits.com
Resource Link: Think Both #23 - Listen Here»
It’s normal to compare one investment to another. What if you could continue earning money on your savings while making an investment too?
So many ways to invest - so many opinions - where should you start? For most people, investing will start with things they’re already purchasing in their life. What about a home with a mortgage as an investment? Is this a liability or an asset?
What about business expansion or business ideas? What about stocks, bonds and mutual funds? What about universal life insurance tied to market performance?
Discover the keys to Sensible Investing from Day 1.
Resource Links:
Fun with Real Estate Video - Watch Here: https://www.youtube.com/watch?v=wsVBD2x2fnU
Average versus Actual Rate of Return Video - Watch Here: https://www.youtube.com/edit?o=U&video_id=K74lNg064zc
Universal Life Insurance - Podcast ep.90 https://www.life-benefits.com/podcasts/universal-life-insurance-ep-90/
Indexed Universal Life Insurance - Podcast: https://www.life-benefits.com/podcasts/indexed-universal-life-ep-147/
How Life Insurance Works - Video with Gracine McFie https://www.life-benefits.com/videos/how-life-insurance-works-with-gracine-mcfie/
More Videos on Universal Life Insurance Link to: https://www.life-benefits.com/?s=universal%20life&type=videosℴ=
Discover the 4 Crucial Steps you need to implement and Create Wealth, Financial Security and Peace of Mind. Worldly wisdom completely reverses the order of these 4 steps to financial success. Listen now and discover the best way to build your foundation for financial security so you can get the MOST benefits.
For more info on building wealth and prosperity the right way, come to the Wealth Summit in Las Vegas: October 12-14th 2018
Wealth Summit Links:
https://www.wealthsummit.net
https://www.life-benefits.com/events/2018-wealth-summit/
People often wonder why they would want to use participating whole life insurance rather than some other financial tool(s)? The quick answer is because no other tool has all the positive benefits without too many negatives. When you get all the facts on the table, it just makes sense.
Today on Wealth Talks, discover WHY it makes so much sense to include participating whole life insurance in your financial portfolio.
Resource Link: https://www.life-benefits.com/retirement-income-strategy/
From 2008 the US government has bailed out major banks to the tune of 16.8 trillion dollars! But banks did NOT lose their own money, they lost depositors money. Today we explore some fun and amazing visual pictures of 1 trillion dollars!
See one example here: http://demonocracy.info/infographics/usa/us_debt/us_debt.html
Also discover what you can learn from the Banks to protect YOUR money the way the Banks protect THEIR own money.
Good things to know about Social Security so you can plan now for alternative options and financial security in your golden years. Also read: Retirement Remastered - Passive Income Strategy Article
From 1987-2017 the cost of college education has increased 212% while wages have been fairly static. Student loans are an increasing burden for more people later in life than ever before in history. The internet has made a lot of higher educational material available at no charge. Companies are starting to realize that a college degree doesn’t always equal more competence, and they’re more open to hiring and training the right people without a college degree. What could this mean for your financial future?
And whether you have a college degree or not, whether you have student loans or not, there are certain things you can do to guarantee better financial security for your family.
Also see: https://www.life-benefits.com/growth-of-student-loan-debt-5-times-faster-than-wages-over-past-decade/
As regulations have been rolled back to pre-1960 levels, the wealth for US households has increased by an estimated $7.1 trillion dollars. Unemployment rates are lower than they have been in the last 44 years. So what does this mean for your financial future?
This week on Wealth Talks discover why NOW is a great time to be saving + How to best protect your savings so you’re ready for the opportunities that come along when the economy goes down.
A couple years ago we interviewed Rabbi Daniel Lapin on an exclusive teleconference that was recorded with limited access. Today we’re releasing this special interview on the podcast. Enjoy!
Listen and discover:
- The importance of Face-to-Face connections for building wealth
- How to make meetings matter instead of wasting time
- The 10th Commandment for Making Money
Here are the resource links for this episode:
Retirement Curveball - Add to Cart
About the American Alliance of Jews and Christians
Wealth Summit 2018: www.wealthsummit.net where Rabbi Daniel Lapin will be a guest speaker
Today on Wealth Talks Tom and Michele McFie talk about the lapse of Term and Universal Life insurance due to the ever-increasing premiums.
Sometimes the cost of insurance is too high. Sometimes a person’s income is too low. Here’s what can be done to continue growing wealth with The Perpetual Wealth Code™.
Products are like tools - they can sit in your “toolbox” or you can use them in a Process to create wonderful results. Good tools are a joy to work with and help you achieve more with less time, effort and risk. Same is true when it comes to building wealth.
There’s more behind a freight train engineers’ job than meets the eye. Have you ever heard of “in train” forces?
And there are parallels when it comes to using life insurance to maximize your financial future too. You are the engineer…be sure to get the knowledge you need to operate safely and effectively!
John and Jesse also share some information about the new Life Benefits website, how to quickly find what you need + new content.
Resource Links: https://lifehacker.com/career-spotlight-what-i-do-as-a-train-engineer-1683307144
Beware of Indexed Universal Life (IUL) where guaranteed values are not long-term guarantees. Participation rates, cap rates, a different expense ratio or mortality experience can drastically affect your real experience and actual policy values.
The journey of life is full of ups and downs. Don’t let the ride get you distracted from planning for the “worst of times”. Here’s what you need to know to make sure your family has the money they’ll need to live and continue the legacy of a loved one.
Why commitment is important for building wealth. Just as it takes commitment to build fulfilling relationships and create value for customers in a business, commitment to the right financial activities will help you build wealth with more guarantees and a better experience.
Moving money just for the sake of moving it doesn’t create wealth. The flow of money must create VALUE to generate good profits and true wealth.
Do you want to to be Rich and Famous or just Rich? Results of a recent survey may surprise you. How you think about managing your money can make a big difference in your financial results and future security.
Call 702-660-7000 for a personal strategy session to see how The Perpetual Wealth Code™ can work with your numbers.
Where to find the balance between Minimalism and Materialism when it comes to your money and Wealth. Resource Link: Prescription for Wealth ebook (Free Download) - http://www.life-benefits.com/prescription-for-wealth-resource.html
Knowledge is learned, Wisdom is lived. Discover the story behind Wealth Talks, and how to create a secure financial foundation for your future.
Resource Link: Prescription for Wealth ebook (Free Download) - http://www.life-benefits.com/prescription-for-wealth-resource.html
Congress recently passed the biggest tax changes since 1986! In this episode former IRS auditor Jack Cohen CPA shares what you need to know (for individuals and small business owners) about the new changes starting in 2018.
Resources:
1. Call Jack’s office at 702-255-2330 for a complimentary tax review.
2. Go to https://discover.life-benefits.com/newsletter/index.html to read Jack’s article in the Living Richly newsletter and claim your free 12-month subscription
Why we NEVER recommend or sell Indexed Universal Life (IUL) insurance and what you need to know to grow and protect your wealth.
Explore what qualifications and experience are most important when you’re looking for sound financial advice to grow and protect your wealth. Mere certifications do not necessarily translate to results, and your best interests.
Michele shares the story of how she creates a wonderful health-wealth balance in the McFie Family lifestyle. Making choices to be healthy does NOT mean you can’t be wealthy. Healthy food CAN also taste wonderful! And here’s how to learn more in April from some of the top speakers in Chiropractic and Natural Health at Room1 in Las Vegas.
Resource Links:
Room1 Event Information: www.Room1LasVegas.com
Special Access Link for Tickets: https://room1.eventbrite.com?discount=LifeBenefits
Is it wise to start 2 policies on the same person at one time? Should you borrow from one policy to pay the premium on another policy also known as “Stacking” or “Laddering”? Should you take policy loans that you never plan to repay? Listen now and get the answers.
The news is abuzz with speculation on what could have caused the recent market downturn. Is this the beginning of a bear market or was it a simple value adjustment? How does the market correction affect whole life insurance values? Why are whole life divi
Are bitcoin investors crazy? Or do they have a point? Explore the ultimate test of any currency (traditional, paper or crypto) and why government actions can have such far reaching effects on the value of the currency(s) they regulate.
Answers to Frequently Asked Questions: Will it take very long?, What insurance company is best?
Policy design options to Maximize Whole Life Cash Value - what is worth considering and when. Learn why term riders could be a good option for some cases but not all. Call Life Benefits to discuss your personal situation: 702-660-7000.
From educational material, strategy and policy design to personal training, software tools and document templates. Here’s a briefing on how Life Benefits, LLC and our associates can help you reach your goals in 2018.
Disclaimer: Life Benefits,LLC, its agents, and representatives are not authorized to give legal or tax advice.
Tax cuts by income level under Trump’s tax plan + some benefits for business owners. Listen in and discover what this could mean for you.
Special session with Tom Ziglar on Goal Setting plus advice from John and Ben McFie on setting your financial goals to focus on actions and service not just the numbers. Tom Ziglar’s Resource Link: https://wp.life-benefits.com/jan-2017-ziglar/
Listen in on the way we think through reviewing a policy that seems okay but may not be balancing a client’s financial needs. It’s all about Money Management and what makes the most sense OVERALL. For details on this particular case see: http://www.life-benefits.com/blog.html?bpid=4204
Should you ever let interest accrue on a policy loan instead of paying out-of-pocket? How often you should check policy values? Discover how to manage policy loans wisely, and why you should never expect dividends to pay interest.
Celebrate with John! Enter to win Happy Birthday prizes through 12/31/2017. 1st Prize: 2017 Wealth Summit Recording, 2nd Prize: Winning Your Financial GAME Book and Study Guide, 3rd Prize: Retirement Curveball book. Everyone who enters will receive 12 months of the Living Richly Newsletter free.
Key points of The Perpetual Wealth Code™ - an outline for busy people. From the 10-20-70 strategy, to the flow of money and how to eliminate lost opportunity. What you need to know to grow and protect your wealth successfully. Highlights the distinct benefits for Employees, Small Business Owners, Entrepreneurs and Investors.
Resources:
Perpetual Wealth Code™ Webinar: https://www.youtube.com/watch?v=eJx0MdGWn10
Health Insurance Options: healthcare.life-benefits.com
Why it’s better to build a financial foundation around the certainty of Main Street rather than risk on Wall Street. With the Perpetual Wealth Code™ there’s no need to hazard your precious savings in speculation with the financial and political vultures of Wall Street.
Resource: Blog on “An Automatic Millionaire" - http://www.life-benefits.com/blog.html?bpid=4190
Special guest Jack Hooper joins Dr. Tom and John McFie to share about how to find the Best Health Insurance and get special discounts, medical bill negotiation and more. https://discover.life-benefits.com/health-insurance/index.html
Throughout history, governments have meddled with money and value. It’s no different in today’s world. Explore what’s going on so you’ll know how to best plan for the future and protect your savings from insidious inflation.
Mainstream financial advisors usually advocate a conventional investment strategy along with term life insurance to cover liabilities and family obligations. But most people can get better results with ZERO market risk and MORE OPTIONS by using participating whole life insurance designed for low commission - high cash value. Listen and learn why this is the better way to go.
In this Episode Michele and Ben McFie fill in for Tom and John as they are on a business trip in Dallas TX. Listen to this episode and find out why Michele says, "I don't feed my kids hot dogs."
On todays episode on Wealth Talks, Tom and John McFie share about how to think in percent and use interest as a tool to maximize your wealth.
Discover the reason why Participating Whole Life Insurance is such a good asset to secure a foundation for your financial future and The Perpetual Wealth Code.
This week on Wealth Talks Tom and John McFie give an update post Wealth Summit. Tom talks about Emotions and how they affect your finances, and John shares a little bit about his presentation at the Wealth Summit on Passive Income.
Different types of Riders that can be added to life insurance policies. Explore the pros and cons and the purpose of these different options. Discussion includes Waiver of Premium, Accelerated Benefit and Paid Up Additions riders.
John, Ben, Gracine, Jesse, Anna, Eva, Steven and Jordan (The McFie kids) are running the office, preparing for the Wealth Summit (Oct 6-8th), recording a podcast and more while Tom and Michele share the Perpetual Wealth Code™ on a Mediterranean cruise.
An overview of the different types of life insurance and how to get more information.
Link to Perpetual Wealth Code™ Advanced Course: http://wealthsolutions.teachable.com/p/pwc-advanced
Podcast Now on Google Play at: https://play.google.com/music/listen#/ps/I4xs5kgmjo7et5fxrna7ndcepgu
Breaking News! A new course on The Perpetual Wealth Code™ revealed. Great for rookies and clients who want to master The Perpetual Wealth Code™ and learn how to apply it for best results. This episode provides an overview of the course and why we built it for you. Link to Course:http://wealthsolutions.teachable.com/p/pwc-advanced/
How policy loan interest works. Explore how interest on a policy loan is figured, the options to pay it or add to the loan balance and what makes sense based on your strategy.
The loss of loved ones, and providing for those left behind is important. Life Benefits is focused on the living benefits, but death benefits is also a big factor.
How to get rid of financial stress by proactively balancing your life so you can experience true wealth, health and happiness.
Whether it’s private school, tutoring, college or a self-taught program - there is a price for education. Today we explore what you can do to boost your financial outcome.
Call 702-660-7000 to order podcast references: Winning Your Financial GAME Book & Study Guide ($20), Funding Your Child’s Education brochure (Free)
Planning a Legacy to make the world a better place. Discover what you can do to build a legacy while you’re alive and how this shapes what happens when you’re gone.
Discover how to payoff debt efficiently and build a foundation for wealth at the same time. Some people pay off their debt and have nothing to show for it, but you can create an asset while paying off your debt!
Using the Perpetual Wealth Code™ to finance business operations and business growth. Explore how the taxes work, and what you need to consider to protect your principle.
Podcast Resources: http://www.life-benefits.com/podcast.html
It’s been called the 8th wonder of the world and can work for you or against you. In the real world it does both at the same time. Discover what you need to know to cut bad compounding and boost the good kind.
Important things to know about tax qualified plans so you can be a good money manager. Recommended Resources: Winning Your Financial GAME (book) with the New Study Guide + Retirement Curveball (book)
Independence is more than just the absence of Slavery. Discover how to build Financial Independence in the right spirit to create true Legacy instead of just an Inheritance.
Saving and Investing in the right things at the right time to Win Your Financial GAME. Why risk it all when you can start with a solid guaranteed foundation and build steadily from there?
How to best finance large ticket items like homes, real estate investments, college education and even cars to keep the most money in your pocket.
Exploring elements of the Perpetual Wealth Code you can leverage to grow and protect your wealth - Volume of Interest, Velocity of Money and Free Cash Flow. See Podcast Resources for Velocity of Money Video Example: http://www.life-benefits.com/podcast.html
The 2017 Wealth Summit is coming up in a few short months: October 6-8th. Discover the value of this seminar and then register for the best savings before June 30th. www.wealthsummit.net
If you’re serious about building wealth, then protecting your assets is a MUST. Today we share tips on Asset Protection and how to establish a solid legal foundation AND bypass expensive attorney fees to establish a good asset protection framework. Get Resources here: http://www.life-benefits.com/podcast.html
An illustration is to a life insurance policy what a blueprint is for a house. Michele McFie joins Tom and John to share how to read and understand the numbers on a Life Insurance illustration.
Tax time doesn’t have to be stressful IF you plan ahead of time. Keep more of the money you make by planning in advance, and discover some helpful tips and information for tax planning. Get the End of Year Checklist download from Podcast Resources at: www.life-benefits.com/podcast.html
Communicating Clearly and Effectively. Money, Politics and Religion are usually taboo topics in social circles of friends and family. But it doesn’t have to be this way. Discover how to communicate clearly about Money. Close families especially should b
Solutions to help you increase and protect your wealth. From Education, Live Events and The Perpetual Wealth Code™, to online software, calculators and blueprints, we want you to keep more of the money and grow wealthier every year.
Planning for Retirement and future Passive Income are top priorities for many people we talk with on a weekly basis. Today on Wealth Talks, discover why the “4% rule” is no longer relevant and some things you can do now to start planning proactively for your future.
Preserving your family values for handling money and wealth. Discover some simple practical activities you can do with your children to plant the values of Perpetual Wealth and Wise Stewardship even at a young age. Here is the link to get the children books discussed in this episode: http://www.life-benefits.com/store.html
The greatest downside of The Perpetual Wealth Code™ and options for passive income in your Golden years. Hint: The downside is also your greatest benefit in using The Perpetual Wealth Code™. Psst…be sure to check our YouTube channel to see the office tour video Jesse is sharing this week.
Do you want a withdrawal or a policy loan? Discover the important difference between these two, and how they affect Cash Value and Death Benefit growth in various life insurance policies.
Different insurance companies call the Paid Up Additions Rider by different names, and provide different payment options. Basically this rider is used to jump-start early cash value in a policy. There are technical terms in today’s episode so get the big idea and remember we’re here to help with the details.
Discover the ins and outs of Variable Universal Life Insurance (VUL). Does it make sense to buy VUL if you want to invest in stocks and don’t need the death benefit? Get the answer to this question + more perspective in this episode.
Discover the dangers of Guaranteed No-Lapse Universal Life insurance and why guarantees in this product are not the same as the quality conservative Guarantees found in Participating Whole Life Insurance.
Ben and Jesse McFie join Tom and John in the studio sharing some recent news and conversations. Then we talk about being a good Money Manager and why you should think twice before borrowing from one policy to pay another.
Whether you’re comparing whole life policies, or deciding whether it’s the right time to take a policy loan, it is most profitable to Think in Percent. But a rate of return can be too deceptively simplistic. Discover what percentages are truly important.
Planning for the future with Convertible Term Insurance. Explore the rates on good Convertible Term Insurance and get a sense of the future Whole Life Premiums for converting. Be sure to download the resource charts for this episode at www.life-benefits.com/podcast.html
In this episode Michele McFie joins Tom and John to talk about Dividends and how to practically compare illustrations. She will also share with you some helpful tips and techniques. To have us review your Illustrations and/or inforce policies, Contact: team@life-benefits.com
Insight on Real Estate Investing and The Perpetual Wealth Code™ with a “lump sum” of money versus an income stream. Discover why balancing life insurance with other investment opportunities is more important than trying to get the max $ into life insurance premiums immediately. Episode Resources: Podcast.Life-Benefits.com
Listen to this podcast and better understand Universal Life and the risk assumed by the policy owner. Discover why basing your financial foundation on guarantees which are maximized in a properly designed Whole Life product is of such importance to you and your financial well being.
Special guest Dan Foley, CLU (Vice President of Marketing Technology at Security Mutual Life Insurance Company of New York) joins Dr. Tom and John McFie to share how dividends work in a whole life insurance policy with a mutual company. Discover why dividend rates vary from company to company and the best ways to compare the performance of insurance products.
How to manage debt wisely whether it’s a mortgage, car loan, business loan or policy loan. Life Insurance plays a key role in providing protection against outstanding debt and becomes the best environment for savings and a foundation for other investment opportunities.
This week on Wealth Talks Tom and John talk about the keys to a successful budget. Listen to this episode and discover how a percent based budget can provide you more freedom and scalability than a traditional flatline budget based on fixed expenses.
Should you replace an existing life insurance policy or keep what you have? Today we clear muddy waters surrounding this question and share some key factors that can help you make the best decision.
We don’t usually talk about job reports and confidence levels, but some special things are happening right now. Despite the looming stock market crash from unprecedented highs which has been predicted by several experts, the next few years are likely to be a great time for small business growth, translating to more personal income and savings for middle-class Americans. Consider these facts and how you can improve your position now so you’re ready when opportunity knocks.
Joe Biden says “I no savings account, but I have a great pension and a great salary.” For those of us who don’t have a six figure pension backed by taxpayers, discover how to plan for the future in a way that keeps all the options on the table as long as possible.
The holiday shopping season is here again. Today we explore smart shopping tips (offline & online) integrated with The Perpetual Wealth Code™ to save you time and money.
Discover why 10-pay policies are NOT the best way to build wealth using life insurance. Dr. Tom and John McFie discuss a recent case and how the agent erroneously tried to reason that “the policy loan rate doesn’t matter because you get it all back in the end.”
Being thankful is a powerful way to generate wealth that can never be replaced or taken away from you.
Special guest Layla Vanderslice joins Dr. Tom and John McFie sharing about Diversification. Is it good or bad? Why does Warren Buffet say diversification is for people who don’t know what they’re doing? Are Mutual Funds diversified? Is PWLI diversified? Are there different types of diversification? How does it all pan out in the end…especially if you need Long Term Care?
Do you want to payoff the mortgage on your house or have the money to pay it off? This is an emotional decision as well as a financial one. Listen with an open mind.
Bribery and conflicts of interest are rife in Politics, Media, and Money Management. The recent fiduciary ruling by the Department of Labor seems to be an effort to correct some of the shenanigans, but it slaps good people as well as the bad guys. Listen and discover why the fiduciary rule will end up hurting people with small to average size portfolios. Is this ruling the result of another conflict of interest?
Rich people look for strategies and “loopholes” to avoid and defer taxes all the time. But some strategies only make sense for people with extra money sitting around. Discover how life insurance translates some “big boy” strategies to a practical level for anyone who has the ability to manage money.
Fresh from the 2016 Wealth Summit, this week we share some thoughts as we all get back to the daily routine. Discover what you missed and be sure mark your calendar for the 2017 Wealth Summit.
Gracine joins the show today to share some underwriting rules and an easy way to calculate “Human Life Value”. Discover how to use term life insurance as insurance for permanent life insurance AND income replacement for your family at the same time.
Saving and Investing should never be equated, although they can cooperate together. Discover the proper places for saving and investing with The Perpetual Wealth Code™.
Is it better to Share property, Own property, Or to be a Steward of property? Explore the history of different property control methods, and discover the best model for growing and protecting your wealth.
Tom and John McFie analyze 8 Savings tips from a recent article and share considerations how to make your Savings plan into a Way of Life rather than a strict budget item.
In this Episode Tom and Michele McFie are in the studio together talking about Time, Money and Numbers. Listen in for some life changing ideas, thoughts and encouragement.
A quick update on market conditions and why it is NOT a good time to retire. Market conditions and better longevity mean a reconsideration of withdrawal rates, and a higher probability of the need for Long Term Care. Together let’s review the important points and explore another perspective.
A peek behind the scenes - discover the McFie family’s teamwork at Life Benefits. People often ask us “what do you do in the business?” Of course we wear many hats but here’s a quick look into what we were doing last week.
For busy people: An “Executive summary” on the pros and cons of Tax Qualified Plans, Mutual Funds, Margin Accounts, Bonds, CDs, Real Estate, and Life Insurance in about 30 minutes.
Is the Money Problem a MACRO problem (i.e. government/society level) or a MICRO problem (i.e. individual/family level)? Michele joins Dr. Tom and John McFie to share about Life Lessons and how they apply to money and wealth. We touch on many things…from the caller who said “I should have learned this when I was in 8th grade” to thinking in percent and why the control of money is so empowering.
In this episode Ben and Gracine join the podcast to share some interactions with people at a recent event they were sponsoring, and John shares some must listen podcast episodes from the archives… You don’t want to miss these
Patience is a virtue especially when it comes to making more money and keeping more of what you make. Speculation and “get rich quick” strategies feed on the multitudes who lack patience. Build a guaranteed foundation first…the slow and steady is
Michele joins Dr. Tom and John McFie for this episode to talk about the best time to start using The Perpetual Wealth Code™. Waiting until later is never a recipe for success... it is much better to start from where you are right now and build.
Today’s Podcast is a live teleconference recording of Tom Ziglar talking about Dream Alignment and transitioning from Success to Significance.
Usually we charge for recordings like this, but the message was so good we couldn’t resist sharing it on this Podcast! ENJOY!
Our material is being misconstrued! At least we ought to feel grateful that it is popular right? We do feel honored on that score, but now listen in to find out what’s happening. Please take everything we publish in context and be wary of high pressu
How do Muni Bonds @ 4% compare to Cash Values on a Participating Whole Life Insurance policy? Listen in to discover our findings on a recent case plus what the Wall Street Journal has to say about “How Muni Bonds ‘Yield’ 4% in a 2% World”.
Zig Ziglar said, “Positive thinking won’t let you do anything, but it will help you do everything better than negative thinking will.” Despite this fact, many people still think in negative terms even when they have a fair degree of financial “success”. So Do this…Replace your negative thinking habits with positive thinking habits your life and wealth will improve.
What if I can’t make my premium? What if I lose my job or the economy crashes? Michele joins Dr. Tom and John McFie exploring some questions on the “front line” at Life Benefits.
What Divdends mean and why we use the Paid Up Additions option by default. Dr. Tom and John McFie also discuss how long to pay the premium on a Whole Life policy.
Discover the pros/cons of 10-pay life insurance policies, and when it makes sense to add additional policies to Your Financial GAME. Get clarity for your specific situation by scheduling a complimentary no pressure Strategy Session.
Is there a place for Term Insurance? Yes. Dr. Tom and John run through the different varieties of Term Insurance and how to use them effectively to protect your family and provide the best options for your financial future.
Discover how to minimize lost opportunity on vacation money by using life insurance and The Perpetual Wealth Code™. Dr. Tom and John McFie share how the process works and reveal the limitations.
One size does NOT fit all. Too many financial experts try to pigeon-hole clients to fit the product they sell. Dr. Tom and John share the difference between prepackaged hybrid products and the building materials that will allow you to create a firm foun
In this Episode, Dr. Tom and John McFie share some key thoughts from visiting the Money Show today. They share about some of the sessions they attended in the morning and why they’re glad they didn’t travel across country to attend.
In this episode learn why it is good to use numbers in planning, but not to run your whole life. Discover the balance between Money, Numbers and Wealth plus a look at how the McFie Family integrates different family talents in one business.
Gracine McFie, shares good books for teaching your children about wealth, and a glimpse behind the scenes into her daily work at Life Benefits.
Listen to this episode and learn how the Average American spends money, and saves money for the future. On this episode, Dr. Tom McFie also shares his perspective on Currency Collapse.
In this episode encounter some pros and cons of tax deferral and understand how to use Life Insurance to get some benefit from tax deferral without losing access to your principal.
In this episode Dr. Tom and John McFie take a look at a 20yr Actual Rate of Return on the S & P 500 compared to the tax equivalent rate of return on Participating Whole Life Insurance Cash Values. They also address a common question: Should you take a pol
This week on Wealth Talks, Dr. John Schellenberg joins Dr. Tom and John McFie to talk over strategies for buying a house AND the best methods to retrieve money from Tax Qualified Plans.
Learn how to make sure your legal documents will do what you want them to do. Resource Link: documentreview.life-benefits.com
* Includes Bonus to last episode: Info that Dr. Tom McFie’s Dad received from Social Security in 1948.
This week on Wealth Talks Tom and John McFie talk about Social Security and how it was sold as an “Insurance Plan” but turned out a “Ponzi Scheme.” In addition to the history, find out what is affecting Social Security today so you can make good plans for the future.
Website: www.life-benefits.com
Phone: 1-866-502-2777
Think through your options first. In this Episode Dr. Tom and John McFie share some recent cases. Many insurance agents ignore important consequences to pad their pocket and sell a bigger 1st-year premium which = more commission.
Today on Wealth Talks John and Jesse McFie talk about 3 common myths about Whole Life Insurance.
1) WL is best for Pre-Retirement Income Protection
2) WL provides a Great Investment Return
3) The Insurance Companies are Great Investors.
Inflation steals the value of savings without changing the figures. It is an insidious form of taxation. Doomsayers mourn this fact. Optimists try to change it. Leaders adjust to the fact and work with it.
In this episode Jesse joins Tom and John McFie in the studio to talk about taking action in life, and being cautious to never confuse motion with progress.
In this Episode, John and Jesse draw lessons from a landscaping project that can help you build a great team for success in Your Financial GAME.
By listening to this episode, you'll find a way to evaluate your New Year Resolutions and use the powerful One-Touch Rule to stay on track and achieve your dreams.
Do you live your life to “get through” or to “grow and improve”? Your answer creates the lens through which you view your savings and wealth. Once you know where you’re going Savings + Saving in the Right Place = A Great Start on the Road to Financial Wealth.
Winning is a habit, but so is losing. Discover how to track what really matters and improve the results in Your Financial GAME.
702-660-7000
www.life-benefits.com
In the words of Vince Lombardi, “Practice does not make perfect. Only perfect practice makes perfect.” In this episode you'll discover how to build the right team and perfect the practice in Your Financial GAME. Also, Dr. Tom shares some options that are available when looking to get money out of a Qualified Plan.
In this episode, learn why the control of your own money trumps all other financial strategies, and discover how the right life insurance helps you keep better control of your Savings, Assets, and Liabilities.
In this Episode, Dr. Tom and John McFie talk about common places to park or invest your money include an IRA, 401(k), 403(b), ROTH, SEP, 529, Real Estate, Stocks, Bonds, Mutual Funds, Money Marketing Accounts, CDs and even Further Education. But what are the consequences?
After listening to this Podcast, call 702-660-7000 for more information and a complimentary strategy session with one of our wealth consultants.
Understanding Your Financial GAME results. Money in one place is not always the same as money in another place.
Discover how your values translate to actions and help you toward greater wealth or away from it. Roy Disney said, “It’s not hard to make decisions when you know what your values are.” This episode will help you recognize your values and filter through distracting sound bites to get the full truth.
In this Episode Dr. Tom and John McFie talk about Time and Money. If time was unlimited it’s value would be destroyed, and when money is created out of thin air it’s value is also destroyed. But combine these 2 limited resources Time and Money together, and you get something called The Time Value of Money. Learn how to make The Time Value of Money work for you as you Win Your Financial GAME.
www.life-benefits.com
1-866.502.2777
In this Episode, Dr. Hugh Cradduck joins Dr. Tom and John McFie to discuss Strategies for Future Income with The Perpetual Wealth Code™, how to protect Social Security Income from taxation, and 2 ways to create an income stream using Life Insurance. Dr. Hugh Cradduck also shares his journey with The Perpetual Wealth Code™.
Why are some people skeptical of the truth yet fall easily for speculation? Fear and greed are 2 powerful motivators behind this dangerous pattern. Discover how to reverse these emotions and use logic correctly so you will be skeptical of speculation, and able to trust the truth.
In this Episode Tom and John talk about “Above Down Inside Out” and how to apply the "3Ds" to create Good Profits and Wealth.
Today on Wealth Talks, Dr. Tom has invited Tom Balmer back to the show to share with the you how he is using The Perpetual Wealth Code™, and how it has changed his life.
Tom Balmer is a Client and also a Mentor with Life Benefits. After practicing The Perpetual Wealth Code™ and gaining experience with it in his personal life, Tom became filled with passion to share the message that transformed his future, with others.
On this Episode, Michele joins Tom and John McFie to talk about the three books Tom has written, and how they making such a huge difference for people winning their financial GAME. The books are: Prescription for Wealth, Winning Your Financial GAME, and Retirement Curveball. (Released earlier this year)
In this Episode Tom and John McFie talk about how to make your money more productive. It’s normal to compare one investment to another. What if you could continue earning money on your savings while making an investment too? Good News!... You can.
Today on Wealth Talks, Tom and John McFie talk about the importance of thinking in percent, and Tom tells a story about when him and Michele were at Office Depot recently, and the sales lady asked if they would like to buy some stamps...
In this episode Tom also shares some wisdom he learned from one of his previous patients who was extremely wealthy, that has changed his life forever. It can change your life too. You can watch the video here: http://www.life-benefits.com/podcast.html
In this Episode, Michele McFie joins Tom and John in talking about how Money and Numbers are different, and how this affects Your Financial GAME.
Tom talks about how Wealth is more than money, and then Michele shares a quote she saw recently... "Some people are so poor, all they have is money." Think of Howard Hughes for example...
Beginning with a quote from Henry Ford, "Those who have the money make the rules", Tom and John talk about the importance of having Captial (Seed Money). Remember...The more money you have, the more people you can help.
Tom and John McFie talk about using Positive Cash Flow for defense in Your Financial GAME. This strategy is also used by Warren Buffett and Jeff Bezos to expand their opportunities and make money.
Tom, John and Ben McFie share tips on how to overcome the barrier of procrastination to creating wealth in your life.
Procrastination is one of you worst enemies. When you overcome it you will find an abundance of wealth and opportunity.
In this Episode, Tom and John McFie talk about how to conquer scarcity and find abundant opportunity. Understand how the herd mentality perpetuates scarcity and how to get out of the vicious cycle. It’s not hard…actually easier than settling for scarcity or “just getting by”.
In this Episode, Tom and John McFie talk about interest. After listening to this podcast, you will be able to make sure you're really getting ahead not just treading water or falling behind in Your Financial GAME.
This podcast contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this recording constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
In this episode with Tom and John McFie, you'll discover the reason why term insurance is so important, and how it becomes a stepping stone to wealth and success. Andrew Carnegie named Life Insurance as one of the 6 pillars of the American Success System because it provides a foundation for individual savings as well as economic protection.
In this Episode Tom, John and Jesse McFie talk about how contracts protect liberty and provide the foundation for progress and wealth not just in the general economy but in your personal financial GAME too.
This podcast contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this recording constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
On this Episode, Wealth Mentor Tom Balmer joins Dr. Tom and John McFie to explore the dangers of Qualified Plans and what you can do to increase and protect your wealth without giving up the use and control of your money. Tom Balmer shares his thoughts on the employer match in a 401k and why people don’t like to talk about money.
This podcast contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this recording constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
In this Episode, Tom and John McFie talk about the difference between Allopathic and Vitalistic Money Management. Discover how you can eliminate risk and focus on your values by adjusting your money management strategy to keep more of the money you make.
This podcast contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this recording constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
In this episode, Dr. Tom and John McFie are joined by Joe Ferraris to review the 10-20-70 Cash Flow strategy and and how to use Participating Whole Life Insurance to improve long term benefits of recovering interest, creating cash flow and extending your legacy.
This podcast contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this recording constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
In this episode Ramon Lua joins Tom and John McFie to talk about the proper role of a CPA or Accountant in Your Financial GAME... With his experience and Accounting degree, Ramon shares his perspective on Client/Accountant relationships and how to balance your priorities for income, savings and getting rid of debt.
This podcast contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this recording constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
On this episode Tom and John McFie talk about what an investment is... is it an Asset or Speculation? Listening to their strategies and details will help you know how to plan, grow and protect your wealth.
This podcast contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this recording constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
On this Episode, Tom and John McFie talk about how it is important to plan your inheritance and legacy, so that you can reward your following generations without giving the government more than is absolutely nessecary.
"...it takes planning..." says Tom, even if you don't think you have anything to pass on, you need to protect yourself from litigation.
This podcast contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this recording constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
Tom and John McFie talk about how many CPAs try to save you taxes for the current or past year, but sometimes fail to consider and plan for the future years! Tom and John shares some tips on planning for your taxes long term as well as short term.
Tom also offers an opinon letter from his personal CPA, complimentary to anyone who is listening to this podcast.
This podcast contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this recording constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
In the Studio, Tom and John McFie talk about Business Financing, and how Savings is the building block to success with your finances... Tom shares about how before he discovered the Perpetural Wealth Code™ he always believed in saving, but didn't know how to save so it profited him instead of the Money Mangagers, Banks and Finance Companies... Thats when he looked into what the Money Managers and Bankers do with their money, and began doing the same with his own. Thats why Tom McFie is now know as "The Man Who Beat the Bankers"
This podcast contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this recording constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
Tom and John McFie talk about Universal Life, Variable Life, Indexed Unviversal Life, Equity Indexed Universal Life, Term Life Insurance,Whole Life Insurance, and Participating Whole Life Insurance. John, shares how the policies are structured, and Tom McFie shares his wisdom from years of experience in the Financial Arena. In this episode you will learn about the different types of Life Insurance out there, and will walk away with an intelligent understanding to be able to decide what type of Life Insurance is right for you and your family.
This podcast contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this recording constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
Tom and John McFie talk about Cash Value life insurance and The Perpetual Wealth Code™. They talk about common financial myths and certian things to be cautious about with your finances.
This podcast contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this recording constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
Dr. Tom and John McFie talk about risk, and how Taxes and Fees destroy the earnings on your money by more than many realize... That is why the Banks purchased over 143 billion Dollars of Life Insurance in 2013, which is now up to over 146 billion in 2014.
Money has to flow to make money, says Dr. Tom... even when you lock it away in an investment, The money managers and are stirring the pot and making money off your savings. ...Learn how to take control of Your money, and become your own money manager with The Perpetual Wealth Code™.
This episode contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this episode constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.
Tom and John McFie talk about Retirement and Qualifed Plans, and what is happening to American's savings, Social Security, and Retirement.
So what should people do to avoid this? Asks John. Tom shares the Financial Solution that creates Wealth, Money and Freedom that he discoverd when he was 45 years old.
This show contains expressed views and opinions of Life Benefits, LLC., its agents, representatives, and/or others who have been quoted from various sources. Such content should be used for educational purposes only. Nothing in this show constitutes, or is meant to constitute, advice or counsel of any kind. If you require advice or counsel in relation to any legal, financial or medical matter you should consult an appropriate professional.