Wealth Talks

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

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: [email protected] | 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

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: [email protected] | 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/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: [email protected] | 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

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: [email protected] | 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

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/-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: [email protected] | 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

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 | [email protected]

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

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

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