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

📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/

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

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.

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 

Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu

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.

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.

Today We take a look at the election results, and what we can expect and prepare for financially with a second Donald Trump administration.

Please review us on Apple Podcasts: 
Go to the podcast app and write a review or go to this link, click listen on Apple Podcasts then scroll down and click "write a review" https://podcasts.apple.com/gb/podcast...

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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.”

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 

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Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast 

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.

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 

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Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast 

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.

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.

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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Listen to the Wealth Talks Podcast on:

Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163 

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Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast 

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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Listen to the Wealth Talks Podcast on:

Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163 

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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

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Watch on YouTube: https://youtu.be/D79Rx01vFNQ 

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

Follow the Wealth Talks Podcast on:
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Watch on YouTube:
https://youtu.be/axpMwXi2s78

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

Follow along:
Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA==  
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Watch on:
YouTube: https://youtu.be/vYrX3XA-DWk 

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

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==  
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Watch on:
YouTube: https://youtu.be/aMiSv0StJQ8 

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
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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

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

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

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

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

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