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Wealth Talks

With a special emphasis on finances we talk about things that create wealth in your life. It's like a dinner table conversation once a week.
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Now displaying: Category: general
Feb 20, 2024

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

Feb 13, 2024

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/ 

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/PPUQAmAdkSA 

 

Feb 6, 2024

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

Jan 30, 2024

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

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/2fkdf7lJmMo

Jan 16, 2024

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

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/Mhw62bVjAf8  

Jan 2, 2024

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

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/Gw6hiKngqv0 

Dec 20, 2023

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 

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  

Listen on:
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8 

Dec 18, 2023

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 

Oct 11, 2023

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.

Jul 11, 2023

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

Jul 3, 2023

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

Jun 28, 2023

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.

Mar 21, 2023

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.

Jan 3, 2023

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

Dec 28, 2022

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. 

Dec 16, 2022

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.

Nov 30, 2022

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

Nov 23, 2022

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.

Nov 16, 2022

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

Nov 8, 2022

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

 

Jun 22, 2022

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

Jun 9, 2022
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
 
May 17, 2022

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

May 3, 2022

“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.

Feb 23, 2022

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

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