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.
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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
Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu
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==
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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
Follow the Wealth Talks Podcast on:
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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==
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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==
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Watch on YouTube: https://youtu.be/8Yj3ICOJbu4
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
Follow the Wealth Talks Podcast on:
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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==
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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
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/
Follow the Wealth Talks Podcast on:
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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:
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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
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/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
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
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:
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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
Follow along:
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Facebook: https://www.facebook.com/profile.php?id=61554798231074
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:
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