Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

We get a lot of questions about cashflow banking on our Ask The Money Nerd Segment of the Wealth Labs Podcast. But one question that has come up a bit more frequently lately is around starting the cash flow banking process when you are close to retirement. Today, Stolba and I have brought back Tim Cardon to run the numbers and give you an idea what this looks like if you are a bit further down the road.

Time Stamps:
1:30 – At 60 Years Old, what is the best way to set up a Cash Flow Banking System?
2:40 – Illustration of a Cash Value Policy
3:15 – Why you don’t break even on a Whole Life Policy for the first few years
4:50 – Resources to learn how to utilize death benefit to produce cash flow while you are alive
6:00 – How Tim was able to get his Father to Early Retirement
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

There are plenty of options when it comes to purchasing a car, but which one is going to preserve your cashflow? Today, on our Ask The Money Nerd Segment of the Wealth labs Podcast, We brought back Tim Cardon to run the numbers and make sure you are getting the best deal when purchasing your car!

Time Stamps:
1:47 – The Money Nerd’s First cars?
4:56 – Why Garrett Leased his first Cars?
6:50 – Things to be aware of when a car dealership gives you a “Deal”
8:15 – Why a business owner might consider a lease vs a loan
9:30 – I have had a car lease for the last 7 months, does the cash flow index apply to this type of “loan” and what are your recommendations I should consider?
11:00 – Why you might consider a lease over purchasing a car more on the personal side
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Banks pay you to rent your money and then they sell it at a much higher cost than what you actually get paid for it. So how do we flip this strategy and have it work for us?

Velocity Banking can be an extremely confusing concept, which is why Tim Cardon joins us in today's episode to help us understand if we are in the right economic and political environment to implement this strategy to pay off a mortgage faster.

Time Stamps:
2:01 – This Episodes Question: Would it be ideal to use Velocity Banking to pay down my rental 100% and use its cash flow to cover my monthly mortgage on our primary property?
2:50 – What is a Cash Flow Index?
4:00 – Why we should be looking at the bigger picture of our loans
4:50 – The reasons we don't really know what the actual impact of months of self-isolation will be.
5:30 – There is a good chance that we have re-created the Great Depression!
8:10 – What is Velocity Banking?
11:05 – Whether using cash or credit, there is always an interest cost.
13:45 – The Fed lowered interest rates, but did the interest rate drop get transferred to the public? Here's the reality, the banks got an infinite rate of return, here's how that happened.
15:30 – Garrett’s concerns with Velocity Baking given the current environment of our country.
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Sometimes when get ourselves in situations that create feelings of scarcity or the feeling of being trapped because we have so much debt holding us back. What are your options? What risks are you facing and how can you address them? In this episode of Ask The Money Nerds, Garrett charts some new territory by giving you unconventional ideas to get you back on the right foot and navigate your debts.

Time Stamps:
1:20 – Scarlett's Question: I have accumulated an amount of debt that I currently do not have the money to pay back. My anxiety around this debt keeps me up at night. I am currently unemployed and am not able to find a job with a livable wage. Do you have any thoughts or suggestions?
2:10 – Some unconventional advice from Garrett
3:00 – The credit card system is broken. Here's why.
3:30 – Why you should be doubling down on using your time to learn new skills & finding a career.
4:40 – Why this type of situation calls for a different approach.
6:10 – Some things to be aware of if you do choose to stop paying on your debts.
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Are you worried about your 401k or IRA? Do you want to access your money with out penalty and have a way to address the tax? There are now provisions within the CARES Act, that allow people to pull money out of their retirement accounts WITHOUT the 10% penalty! Today, we discuss why you may want to consider this option as well as a 72(t) distribution.

Time Stamps:
1:45 – Kathy's Question: If I opt for a 72(t) Election, before 59.5 years, can I change my mind once actually reach this age?
2:05 – What is a 72(t) Election?
3:00 – When is it a good situation to take a 72(t) election?
4:25 – Why Garrett doesn’t have a 401(k).
6:10 – What are the pros and cons of putting funds from a 401(k) into an Annuity?
8:00 – What is a Zero-Coupon Bond?
10:05 – What is an Annuity?
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Do you feel too much of your income is going to pay your loans and that you don't have enough left over to have the quality of life you want? Do you wonder how you can escape the debt trap without having to sacrifice your life away? Debt can create so much stress in our lives and cause us worry more and enjoy our lives less. In this episode of Ask The Money Nerds, Stolba and I talk about how you can get out of the hole and get on track right away rather than taking years to get there, including how to restructure loans and way to correct your credit score.

Time Stamps:
2:25 – Marquita's Question: My debt to income ratio is very close to 100%, should I do a debt consolidation loan and close the credit card accounts or should I keep paying the minimum payment on the credit cards?
2:50 – Consider an intra-family loan as an assistance option
3:10 – Refinance so you can utilize equity for better loan efficiency
4:00 – Ways to improve your credit score
4:40 – Other loan options
6:10 – Velocity Banking strategy
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

It's imperative to have access to cash if you want to be on the right side of the massive wealth transfer that is about to happen. How do you accelerate your savings? Where do you find more money to put in savings? And where can you save it? In this episode of Ask The Money Nerds we share with you some strategies to boost your savings and the best place to park your money for tax free growth!

Time Stamps:
2:17 – Paul's Question: What does Garrett determine as having liquidity? How can I have cash to invest? And what is the best account to put my money into?
2:58 – How to find more money?
3:40 – What is Cash Flow Banking?
5:28 – One option to park your cash and have it grow tax free
6:30 – A few risks with bonds
7:35 – What is a brokerage account?
8:40 – Reasons why I'm not a fan of retirement accounts.
9:55 – An alternative place to put your cash
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Picking the right company and structuring your cash flow banking policy is vital to making this strategy work. In this episode of Ask The Money Nerds, I share some of the criteria I use to evaluate the efficacy of a company, I define my relationship with Garda Insurance and explain why I typically recommend them.

Time Stamps:
1:45 – Justin's Question: What insurance company do you recommend getting whole/term policies through? Also, what is your relationship with Garda Insurance?
2:45 – What is the minimum interest rate that you look for in a policy?
3:10 – What is a PUA?
4:00 – Why Garrett doesn’t care for companies that are stock based companies
5:10 – My relationship with Garda Insurance
7:05 – Other resources to navigate looking at your own cash flow banking policy.
8:08 – What is a Mutual Company?
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

If you knew you were going to get an extra $100k dollars tomorrow, above and beyond everything else you already had, what would you do with it? A viewer is considering what to do with an inheritance and is wondering if it's best to pay off accumulated debt before investing. In this Wealth Labs episode of Ask The Money Nerds, Stolba and I want you to consider a factor that is rarely mentioned when deciding what to do with your money, but we believe it will give you more clarity and confidence in whatever direction you choose!

Time Stamps:
1:20 – Lee's Question: My wife and I are coming into serious money soon. Should we pay off debt before investing in real estate?
1:35 – Peace of Mind vs Rate of Return
3:30 – Should we consider paying off our cars and debt before investing? We are getting conflicting advice from multiple people.
6:30 – Treating an investment like a business (rather than a hobby) is crucial to your success.
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/

Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

Have you thought about starting a business, but don't know where to begin? How do you make sure your personal assets are protected when you launch a business? There are several different entities to choose from when when setting up your business, so how do you know which one is going to be right for your situation? In this episode of Ask The Money Nerds Stolba and I give a brief overview of the various entities to help you choose which business one best fits your business needs.

Interview Time Stamps:
2:10 – Sarah's Question: What business structure is best for my massage therapy business? I want my personal assets to ve protected.
3:10 – The importance of talking with an attorney before setting up any type of entity.
3:30 – Why most people form an LLC
4:15 – Why C-Corporations have become a bit more complicated
4:45 – What is a pass through entity?
7:00 – If you want to go into business with a partner how do you determine how much ownership each partner gets?
***
If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!

Check Out Garrett's Books:
Killing Sacred Cows - https://amzn.to/2lMbX1i
What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book

Connect with Garrett:
Facebook: https://www.facebook.com/garrettbgunderson
Twitter: https://twitter.com/GBGunderson
Instagram: https://www.instagram.com/garrettbgunderson
LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/
Website: https://wealthfactory.com/