Risk Tolerance is a phrase that gets thrown around a lot in the typical financial world. Your risk tolerance is defined as the degree of variability in investment returns that you are willing to withstand. But this really doesn’t specify the amount of money you are willing to risk in order to possibly make a certain amount of money. In other words, how much money are you going to gamble with? Of course, just because you gamble with more and more money, that doesn’t mean you will make more, or ev...
Apr 08, 2020•27 min
The market has plunged rapidly into a black swan, and a black swan is where typical financial planning fails. Typical financial planning tells you just to keep your money in, and let the market come back up. But many times, the best deals are to be found in times like these. If your money is all tied up, you are going to miss out. Traditional financial planning starts out by purchasing Whole Life Insurance, which is not tied to the market. When the market is in a time like this, your money is ea...
Mar 31, 2020•20 min
Some people have a big win followed by a devastating loss. Sometimes the loss even nullifies the win. Have you seen it? It’s the classic example of winning a battle but losing the war. In this episode of Your Monday Motivation there’s some good advice about how to keep winning when you win. It’s second hand advice, but it’s good…
Mar 30, 2020•3 min•Ep. 84
The market is a mess. Stocks are down, the Dow is down, the S&P 500 is down. Are you happy with your strategy for financial planning? Or does it feel more like gambling in Las Vegas? People are being failed by their financial planning strategy, leaving them dependent on Social Security. This is a problem. You need a foundation that isn’t affected by the latest plunge in the market. Listen now to find out why it is so critical to have this foundation, and how to get it....
Mar 24, 2020•14 min
Typical financial planning has failed, leaving many dependent on social security. 401Ks, simple IRAs and other Tax Qualified Plans, are the “golden goose” that can kill you financially if you don’t know and understand the “terms and conditions” of each. Although it seems like “free money” when your employer is contributing some sort of match, will that “free money” actually cost you in the long run? In today’s episode, Tom and John talk about some of the consequences that could ensue in the futu...
Mar 18, 2020•13 min
Today on Wealth Talks Michele joins Tom and John… and so does Mr. Higgins! Well, sort of. Poor Mr. Higgins lives in a book and has a clock but cannot tell if it is on time! Mr. Higgins buys another clock only to discover that neither clock displays the same time. Now Mr. Higgins is in despair! He can’t tell which clock is correct! Is Mr. Higgins doing the same thing with clocks that some people do with life insurance? Listen Now to find out, not only what some people do with life insurance, but ...
Mar 10, 2020•23 min
How can you tell if you’re paying more in taxes than you should be? Can section 199A really give businesses a leg up? What about the Secure Act? Is Life Insurance really a good tool to leave a legacy? Jack Cohen worked as an IRS Auditor for 33 years, In fact, he won the IRS Employee of the Year Award in 2006. Since then, Jack has switched the “black hat” for the “white hat”, helping people pay as little as they legally can in taxes. Today he joins Tom and John on Wealth Talks to answer questions...
Mar 03, 2020•20 min
Health is indeed a part of Wealth. And with so many options for diets and supplements in today’s world, where do you even start to start? Do nutrition and supplementation really play a role in helping you reach Optimal Health? Doug Grant is the founder of Optimal Health Systems (OHS). Before founding OHS in 1997, Doug was the 1st nutritionist ever hired by an NBA team. He has continued on to work with athletes in MLB, the NCAA, the Olympics, and even publishing Ironman magazine for a couple of y...
Feb 25, 2020•26 min
There are many Retirement Calculators out there, insert your numbers and Ta-Dah! The calculator spits out how much money you need to have in order to retire. But these calculators can’t guarantee how much money you will need in retirement. What chunk of your money will inflation gnaw off throughout your retirement? Are your retirement savings tax free? Or only tax deferred? Will you ever require special medical care? What about assisted living? Or emergencies, or… or… or… Today on Wealth Talks, ...
Feb 18, 2020•19 min
The Federal Reserve has been artificially lowering interest rates for years. This has been driving up the cost of stocks, far beyond their economic value. Meanwhile, other central banks are printing up legal currency in order to buy shares of stock. Our own Federal Reserve is printing up currency with which they are purchasing mortgages. Sooner or later, a return to economic reality will have to take place. Today Tom and John are joined by Dr. Paul Cleveland, Ph.D. in Economics and Professor of ...
Feb 11, 2020•33 min
Risk tolerance is a big term in typical financial planning. Basically, risk tolerance is the amount of nerve you have to watch your investment portfolio lose money without flinching. According to typical financial planning, the higher your “risk tolerance” the more money you should risk losing to try and get big returns. But typical financial planning isn’t working out so good for most Americans. People are running out of money in retirement and the median savings for someone age 65 or older is ...
Feb 04, 2020•25 min
How is wealth created? According to George Gilder, there are three things that create wealth. (Listen to find out) People who put money in a 401(k) limit their access to their own money which makes it hard to create wealth… and 401(k)s aren’t treating people all that well, to begin with. The average 401(k) balance is pretty low especially considering many employees are betting on their 401(k) to make retirement a reality. That’s probably the reason most retired Americans depend on Social Securit...
Jan 28, 2020•25 min
Governments and central banks are taking the low road. They are attempting to artificially stimulate the economy by implementing negative interest rates. John says it will work probably work short-term Tom says it could cause people to hoard tangible assets like gold, silver, antique automobiles and art. What is it that really stimulates an economy long-term and causes wealth to be created? Why do you think most business regulations are put in place? A. To protect small business from getting ove...
Jan 22, 2020•21 min
Most people think saving money is about cutting lifestyle and luxuries. This is certainly one way to save, but it is not the only way because where you save your money can make a big difference in how much you get to keep. 💵 Benjamin Franklin says, “There are two ways to increase your wealth. Increase your means or decrease your wants. The best is to do both at the same time.” But increasing your means is not always as easy as increasing your income because expenses tend to rise to equal (or ex...
Jan 14, 2020•23 min
he SECURE Act was signed into law by President Trump on December 20, 2019. Here are some key changes you should know as you plan for retirement: Generally, the SECURE Act: Removed Maximum Age limit for IRA Contributions Increased the age for Required Minimum Distributions (RMDs) from age 70.5 to 72 Enforces a 10yr distribution window for most inherited retirement accounts - no more stretch IRAs The SECURE Act is likely to increase age tax-qualified account balances because people will be encoura...
Jan 07, 2020•26 min
Can you really eliminate the control of Banks and Financial institutions in your life by using Life Insurance? Or should you own Life Insurance for different reasons? Discover the best reasons to own and use Life Insurance as a financial tool in 2020. With the New Year just around the corner it’s a great time to reflect on the history of Life Insurance and how to achieve your goals in 2020. New Year’s resolutions are infamous for lasting only a few weeks. What does it take to get the follow thro...
Dec 31, 2019•27 min
What are people talking about when you hear the term “Investment Grade Life Insurance”? Answer: It can be just about any type of life insurance under the sun because the “Investment Grade” part is marketing fluff. The Supreme court has ruled that life insurance is not an investment but rather an asset, so what you really want to know is how the underlying life insurance works and how it would fit into your portfolio. This podcast show makes it easy to understand the value of guarantees from WHOL...
Dec 24, 2019•20 min
Should you rely only on Group Life Insurance through your employer? Or does it make sense to combine your group coverage with individual coverage? What option(s) will cost the least over time? What else should you know of when it comes to Group Life Insurance? Find out now. Hear the pros and cons of Group Life Insurance and how it compares (or can work together) with personal Term Life Insurance and Participating Whole Life insurance to get you the best coverage. Resources: Get a Quote for Term ...
Dec 18, 2019•17 min
Stories from the Plymouth Pilgrim colony and the modern Farming community help to explore the way Socialism differs from Mutual Assistance, Mutual Organizations or acts of Charity in a community. Ask yourself, what model will best protect wealth? And discover how you can you participate in a mutual framework to protect the wealth you create. Obviously, charity is important, while greed is destructive. The right method and attitude for creating and protecting your wealth follows the same guidelin...
Dec 11, 2019•25 min
What you need to know about government, money systems and market environments to build sustainable wealth - we make it all easy for you. Understanding these systems conceptually, will help you grow your wealth and keep more of the money you make. Did you know Sir Isaac Newton (the inventor of calculus) made a significant contribution to a stable monetary system in England? This helped to set the stage for the great wealth accumulated by the British Empire. Hear the story on today’s show. Today’s...
Dec 03, 2019•21 min
You’ve heard of income-based repayment aka income-driven repayment plans for student loans. Do they apply to you? How do you know what income driven plan is best for you? What about the tax liability when the loan is forgiven? Is it really worth jumping through all the recertification hoops? Will you have to limit your service potential to keep your income low enough to qualify? Or could there be a strategy for you that ties it all together and gives you a better deal? Maybe you can save enough ...
Nov 27, 2019•21 min
From the story of the Tower of Babel in Genesis, through Greek Culture, even through the Dark Ages, and now through modern day Marxism in America, humans often think it is wrong to be wealthy. They think it might be better to redistribute the wealth. Maybe everyone could enjoy prosperity equally and fairly - it sounds really nice. But life isn’t equal or fair, so what’s the best solution? Today you’ll hear some history around the idea of Wealth Redistribution and the different forms it assumes t...
Nov 19, 2019•23 min
Did you know, that a withdrawal from any type of Universal life insurance policy, is substantially different than a withdrawal from a Whole life insurance policy? Policy loans may also affect universal life insurance and whole life insurance products differently. On this show you’ll hear what you need to know about policy loans and withdrawals. It doesn’t matter whether a universal product is called Indexed Universal Life (tied to a market index), Variable Universal Life (tied to various stock a...
Nov 12, 2019•22 min
Conversation with Krish Dhanam and Dr. John Bergman highlighting some of the wonderful experiences and content from the 2019 Wealth Cruise.🚢 From financial wealth building to world views and knowledge for cultivating physical health and well-being, this cruise reflects a recognition that humans are tridimensional in nature with Mental, Physical and Spiritual aspects. To achieve real and sustainable wealth you have to become successful in all 3 dimensions. Mentally you can design a strategy to c...
Nov 06, 2019•26 min
🗓 Open Enrollment for Health Insurance starts Friday November 1st running through December 15th 2019. Special guest Jack Hooper from Take Command Health shares 2 new HRAs available for businesses in 2020 - ICHRA and EBHRA in addition to QSEHRA from 2017. Acronym Definitions: ICHRA = Individual Coverage Health Reimbursement Arrangement EBHRA = Excepted Benefits Health Reimbursement Arrangement QSEHRA = Qualified Small Employer Health Reimbursement Arrangement These HRAs can add more options and ...
Oct 29, 2019•27 min
🗞Everything you need to know, and probably more than you’ll ever need to know, about Indexed Universal Life Insurance (IUL). Universal Life Insurance has been promoted since the 1970’s. IUL insurance is even more recent, but still based on the same idea of buying term insurance and investing the difference. If you like risk, fees, a possibility of greater gain when the market goes up (never when it goes down), an ever increasing cost of insurance, and a thick contract that obviously protects th...
Oct 16, 2019•30 min
19 out of 20 Americans with a 401(k) are paying fees of some sort whether they know it or not. 😰 Even if the account, or advisor, does not charge a management fee, there are usually fees hidden in various ways. If you know these fees are present you can figure out how to deal with them, overcome, or avoid them strategically. Just don’t be a sucker and think you have no fees until it’s too late to recover the money you lose. If you’re going to invest, be aware of expense ratios, transaction fees...
Oct 15, 2019•25 min
Best known as a billionaire tycoon and a hostile corporate takeover entrepreneur, T. Boone Pickens was an amazing person with great financial sense. But in 2008 one of his ideas crashed. Pickens had helped Oklahoma State University buy life insurance through Premium Financing. After the 2008 crash T. Boone Pickens stepped in personally to bailout OSU and they still lost the life insurance. Today you’ll see a lot of people encouraging premium financing on the internet or in seminars. Unless you h...
Oct 08, 2019•19 min
Today is #InternationalPodcastDay! And we have a winner for the Beats Solo3 Wireless headphones - announced during this show. Thank you for participating in the WealthTalks celebration sharing your favorite podcast shows! And some of you went above and beyond sharing more on how you use your policies + asking questions for the WealthTalks show and leaving reviews on iTunes & Stitcher. We appreciate you! Hear an answer to 4 of the many great questions you asked through the celebration entries...
Oct 01, 2019•23 min
How do you maximize growth in your policies (and outside your policies) with strategies like the Infinite Banking, Bank On Yourself or The Perpetual Wealth Code™? This can depend partly on how your policies are designed. If you have a policy that is “maxed out” under the Modified Endowment Contract rules you might not be able to maximize the policy much more. What then? When your policy growth and guarantees are maximized it’s time to look to your money management for the optimal growth opportun...
Sep 24, 2019•21 min
