Wealth Talks

We've probably all heard the term Becoming Your Own Banker. Why would anyone want to be a banker? Aren't bankers the professionals? Why not just let them manage all the money?

Today on WealthTalks Tom and John share some very interesting and astounding, numbers. At the end of this podcast you will not only realize exactly why you should manage your own money, you will also know how.

Listen to the episode now!

A brilliant Chemist once said he enjoyed going back and teaching Chemistry 101. Why would he enjoy teaching something that was obviously elementary for him? The answer was simple. Going back to the basics for a time helped him be more creative when he went back to his other chemistry work.

Today on Wealth Talks, Tom and John go back to the basics, Insurance 101 if you will. Not only is this a great staring point for newbies, but, just like Chemistry 101, its a great refresh for those who are advanced. Listen Now

Resources:

Winning Your Financial GAME & Study Guide: https://www.life-benefits.com/store/

Prescription for Wealth ebook & audiobook: https://www.life-benefits.com/prescription-for-wealth-book/

Financial Class Recording: https://lifebenefits.lpages.co/financial-class-05192020-recording/

Recently a few articles have made their way into the news about Insurance Companies turning down would be purchasers due to the COVID19 Pandemic. Perhaps the Wall Street Journal put it best stating "Some Americans are being turned away trying to buy Life Insurance".

Today, Dan Foley, Senior Vice President of Marketing Technology with Security Mutual Life, joins the show to talk about what exactly is happening with the Insurance companies.

Security Mutual started in 1886 in New York. Now they sell insurance in all fifty states, the District of Columbia, and the US Virgin Islands. 38 years ago, Dan Foley joined them, starting work in the company's actuarial science department. Dan Foley really knows his stuff! You do not want to miss this interview.

Recently there have been some sensational articles in the media suggesting life insurance companies are facing tough times with the financial crisis combined with COVID-19.

Special guest Attorney Andrew Rinn, also the Vice President of Advanced Markets at Ameritas, joins us to share an inside perspective on what's really happening at mutual life insurance companies right now. It is fascinating to hear how life insurance companies (especially mutual companies with strong cash positions and a low debt ratio) are in a position to obtain nice deals in the current bond market.

Underwriting procedures and virtual research have also been upgraded to minimize paramedic requirements for new policies. Life insurance guarantees are always important - never more so than during these times. It's good to hear how mutual insurance companies like Ameritas are putting their policy holders first - keeping guarantees strong and recognizing liquidity needs through policy loans.

Thank you for sharing, Mr. Rinn!

He straddled the bicycle for the first time, set his feet on the pedals and rode serenely away into the glowing sunset. Oh if only it was that easy! It isn't of-course, because, like everything, there is a learning curve.

Is it possible to eliminate the learning curve on a bicycle by learning everything you can about it?

What if you learned the way the shifter worked, the way the derailleur, the chain the sprocket, the cassette, the front brake and the back brake worked. What if you looked up a video on bicycling 101 and even read an entire book on bicycling for dummies, would the learning curve be eliminated? No! Decreased? Yes, but eliminated? Emphatically no!

So how does all this relate to good money management? Listen to the episode now!

What are you really worth? Americans used to save over 14% of what they made, but now Americans are hardly saving at all. Many people don't feel they are worth anything, and hence they don't save anything. This is tragic!

How much should you save? Some say you should have enough saved to live on for 6 months, some say enough for 3 years. Both those options beat having just $500 like 50% of Americans, but are they right for you?

Also on this show: If guaranteed policy values are based on a 4% return, and I you are paying 5% interest on a policy loan, are you only paying a net 1%? As you may suspect, there is more to the actual results of this example than what appears on the surface.

Join Tom and John on Wealth Talks, as they discuss the answers to these questions.

Resources:

10-20-70 Budgeting System & Worksheet: https://www.life-benefits.com/10-20-70-budget-system/

Order Winning Your Financial GAME & Workbook: https://ao160.infusionsoft.com/app/manageCart/addProduct?productId=208

If you're interested in investment opportunities, take the time now to begin preparing and learning everything you can about the process.

For example, if you think Real Estate investing and rental properties sound interesting, then learn about the state laws, the systems and templates that you would need to have in place for this type of investment/business venture. There are some great resources online for learning about state specific laws and getting actual templates that can help you in this type of venture. Checkout this example of a Month-to-Month Rental Agreement from iPropertyManagment.

Learn about the different expenses associated with the investments you think you may want to make. Calculators such as this Investment Property Calculator on AARP can help with this process and in evaluating real opportunities when they do come along.

Anyone can lose money investing, but starry-eyed novice investors tend to lose much more than people who have enough knowledge to avoid major mistakes. Get knowledge on your side.

And regardless of the investment opportunities you want to pursue, be sure you are building a strong foundation of guarantees and liquidity before investing, because investments are always going to carry risk. Life Benefits can help you build your foundation of financial guarantees through Life Insurance. Call us for assistance at 702-660-7000.

Resources:

More Information about Inverted Yield Curves

The economy is down, businesses are closed and people are left unemployed as the quarantine lockdown continues. Will the economy ever recover?

Today on Wealth Talks, economist George Gilder joins Tom and John to talk about the economy, wealth and poverty.

George Gilder has written many renown books on the economy, including Wealth and Poverty, a best seller with over a million sold and Life after Google, also a bestseller.

You do not want to miss this episode. Listen Now!

Resource Links:

Subscribe to George Gilder's Daily Prophecy at GilderPress.com: https://gilderpress.com/?utm_source=lifebenefits.com&utm_medium=podcast&utm_campaign=wealthtalks

Get Life After Google on Amazon.com: https://www.amazon.com/Life-After-Google-Blockchain-Economy-ebook/dp/B072NYKG2G/

Get Wealth and Poverty on Amazon.com: https://www.amazon.com/Wealth-Poverty-Twenty-First-Century-Gilder/dp/B00CB5H5JQ/

Annuities can be good if you know how to use them. But what are some good strategies for using annuities?

Today Tom and John explore different ways you can use annuities, and which ways make the most sense.

Also on this episode, SBA loans. How long will it take to get one? What if I need the money before I can get the loan?

Resources: Types of Life Insurance:

https://www.life-benefits.com/podcasts/what-type-of-life-insurance-do-you-really-want/

YouTube LIVE with Campbell Jones Cohen CPAs

https://www.youtube.com/watch?v=BA-GlC44kXk

We all think we know what the economy is… but do we really? What is the origin of the word economy? What does it mean? Does it pertain to you as much as it does to me?

Those are interesting questions. Here are some more: What is the Cost of a credit card? What is the Price? What about the Cost and the Price for a mortgage? How does that compare to life insurance?

Listen Now to find the answers!

Resources: Winning Your Financial Game