Wealth Talks
478 episodes - English - Latest episode: about 17 hours ago - ★★★★ - 46 ratingsWealth Talks podcast is an educational podcast that helps you build Wealth in all areas of your life. Increase your Financial IQ, develop personal growth, and create a lasting legacy all while getting exposed to the strategies that successful people are using. You’ll get actionable strategies and intelligence that you can immediately put to use to start creating real and lasting generational wealth. See more on our website: https://www.life-benefits.com/podcasts
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Episodes
Q&A: Infinite banking, life insurance, cash value, policy loans
July 02, 2024 09:30 - 24 minutes - 33.3 MBToday we answer 9 questions we received about life insurance, cash value, money, interest rates, and dividends. These questions and their answers will be helpful to anyone who uses, or plans to use life insurance cash values and the Infinite Banking concept. The questions are: 1. Do I get to choose the interest rate I pay on a policy loan? 2. If the dividend rate is 5% and my policy loan interest rate is 4% am I making 1% on the difference? 3. When I pay back my policy loan with int...
Infinite Banking Policy Loans
June 25, 2024 09:30 - 27 minutes - 38.5 MBIn this podcast you will get specific numbers, and details from two different Whole Life Insurance policies, what the premiums are, how long they can be funded and how much money the owner can borrow. This is a glimpse into infinite banking policy design that many people will never get. 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.ph...
Developing A Good Mindset
June 17, 2024 23:44 - 26 minutes - 36.7 MBThe way you think is the lens through which you observe every situation in life. The way you observe influences how you respond and how you respond makes an enormous impact in your life for better or for worse. Respond… and that’s such an important word, because many people go through life reacting to what life presents to them and that’s not an ideal situation to be in. The difference between responding and reacting can be as significant as life and death, If you touch a hot stove, y...
Will Young Adults Turn Out?
June 11, 2024 09:30 - 27 minutes - 38.5 MBHave you ever wondered what the world will look like when today’s young adults become the middle-aged people of the future? The future is full of possibilities for everyone. There will be people who seize the opportunity to make a possibility a reality and there will be people who let the possibilities remain possibilities because they don’t want to make a commitment or put in the work. If anyone, young or old, rich or poor, man or woman, chooses to do what it takes, success can still be...
What's Happening to the Middle Class? | Episode 472
June 04, 2024 09:00 - 23 minutes - 32.5 MBIf the money you save isn’t earning anything, it is losing value. That’s horrible news, but it’s the truth. We were on a business call with Alex just the other day and he asked, what is happening to the middle class? Middle class is defined largely by household income adjusted for household members. Anything from about 50k/150k of income per person is considered middle class right now. The most obvious thing that hurts the middle class is Inflation. Inflation is stealing the v...
Starting a Baking Business | Episode 471
May 28, 2024 13:21 - 20 minutes - 28.7 MBToday we have Anna, in the studio with us, to discuss how she has built her baking business from scratch, no pun intended, and to discuss some of the challenges and problems she has faced along the way. We also are of course going to sample one of her famous treats. Anna's business, Bread and Butter baking, makes sourdough bread, cookies, cakes, pies and cinnamon rolls. You can also watch the video of this episode on Youtube: https://youtu.be/Yx7DqS6WZHg
Cash Value Insurance Policies Episode 470
May 21, 2024 09:30 - 24 minutes - 34.5 MBCash Value Life Insurance is one of the lesser understood financial assets that you can own, but it is also one of the most powerful. In today’s episode of The Wealth Talks Podcast we talk about the cash value of life insurance policies, what it is, where it comes from and how it can be used. This episode is all things cash value. After this episode you will understand life insurance cash value better than you ever have before. Paying Property Taxes using the infinite banking conc...
Dave Ramsey Rebuttal | Episode 469
May 14, 2024 08:30 - 19 minutes - 26.9 MBJosh listens to Wealth Talks on his way to work and he asked us to do a rebuttal to an episode of Dave Ramsey’s show where he is talking about the infinite banking concept. We happen to know a lot about the infinite banking concept, so if anyone can add perspective to Dave Ramsey’s video about the Infinite Banking Concept it would be us. The video Josh sent to us is called Heated Debate Between Infinite Banker and Dave Ramsey if you need more context to anything we talk about in this podca...
Income Taxes | Episode 468
May 07, 2024 09:30 - 20 minutes - 28.1 MBThere has been a lot of money transferred from the accounts of working Americans into the coffers of the U.S. Government from the income tax alone. But worse than that it has created division among Americans and that is the worst repercussion of the 16th amendment. In this episode we talk about: • Tax avoidance vs. tax evasion • Tax avoidance procedures • Tax planning measures • Tax fighting duties Listen as we will talk about ways to avoid income taxes, pay income taxes and fight...
The Richest Man In Babylon Book | Episode 467
April 30, 2024 09:30 - 23 minutes - 33 MBThe Richest Man in Babylon book has the reputation of being responsible for creating more millionaires than any other book in print. If that is the case, the advice in this book may be the best financial advice in the world. The financial advice given in this book has many aspects. One of the most fundamental of these is the 10-20-70 Rule. The powerful thing about the 10-20-70 rule is that no matter how much or how little money you make there is always 10%... 20%... and 70%. And it wo...
The Financial Side of Retirement | Episode 466
April 23, 2024 09:30 - 25 minutes - 35.3 MBIn 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 diff...
Inflation 2024 | Episode 465
April 16, 2024 09:00 - 24 minutes - 33.4 MBInflation 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 ...
Infinite Banking For Your Business | Episode 464
April 09, 2024 09:20 - 28 minutes - 39.9 MBThis 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 busines...
My 1st Infinite Banking policy | Episode 463
April 02, 2024 09:15 - 28 minutes - 38.9 MBIn 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 G...
How We Found The Infinite Banking Concept | Episode 462
March 26, 2024 09:20 - 25 minutes - 35.8 MBIn 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 o...
Jesse is Getting Married | Episode 461
March 19, 2024 09:20 - 25 minutes - 34.8 MBOur 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@McFieIn...
How To Be Debt Free | Episode 460
March 12, 2024 09:15 - 25 minutes - 35.5 MBInterest 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 ...
How To Get Life Insurance | Episode 459
March 05, 2024 10:20 - 24 minutes - 34.1 MBIt 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 becau...
How To Use Life Insurance Cash Value | Episode 458
February 27, 2024 10:25 - 27 minutes - 38.2 MBThe 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 cri...
Is Term Life Insurance a Waste of Money | Episode 457
February 20, 2024 10:25 - 24 minutes - 33.9 MBMost 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 Insu...
John Morey Real Estate Investor | Episode 456
February 13, 2024 10:20 - 22 minutes - 30.6 MBWe 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 d...
Rate of Return vs. Return of Your Money | Episode 455
February 06, 2024 10:20 - 28 minutes - 39.9 MBMark 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...
Investments | Episode 454
January 30, 2024 10:28 - 29 minutes - 40.2 MBEvery 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 con...
How To Handle Debt | Episode 453
January 23, 2024 10:00 - 33 minutes - 46.5 MBThere 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 Me...
How To Save Money | Episode 452
January 16, 2024 10:27 - 36 minutes - 50.7 MBThe 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@mcfieinsura...
How to Be Your Own Banker | Episode 451
January 09, 2024 10:27 - 32 minutes - 44.4 MBBecoming 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 man...
Making Financial Decisions Simple | Episode 450
January 02, 2024 15:55 - 30 minutes - 41.5 MBThroughout 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 To...
Resolutions Vs. Goals | Wealth Talks Podcast | Episode 449
December 26, 2023 10:30 - 29 minutes - 41.1 MBThe 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 202...
We put a $20 Limit on our gift exchange for Christmas | Episode 448
December 20, 2023 10:27 - 25 minutes - 34.8 MBIn 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...
The Reasons We Moved | Episode 447
December 18, 2023 22:28 - 27 minutes - 37.7 MBWe 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/profi...
The Importance of Having a Cash Cushion | Episode 446
December 13, 2023 10:30 - 23 minutes - 32.6 MBPrior 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 Ho...
How to prepare for a Recession.
December 08, 2023 00:47 - 29 minutes - 375 MB VideoRecessions 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: Wise Man Foolish Man Card Game – Amazon.com A Biblical Guide to Personal Finance
Do you want more money?
December 01, 2023 01:21 - 26 minutes - 36.2 MBMany 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
Avoid Becoming A Victim of this Financial Tactic
November 23, 2023 12:33 - 30 minutes - 42 MBScare 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 This Saw?
November 15, 2023 13:40 - 23 minutes - 31.9 MBRemember 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
Remember This Saw?
November 15, 2023 13:40Remember 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
Remember This Saw?
November 15, 2023 13:40Remember 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
What To Do When 100k per year Is Not Enough
November 08, 2023 14:25 - 17 minutes - 23.4 MBMany Americans are living paycheck to paycheck, but times are not getting any easier financially, so it’s time to break this cycle now because it will only get more painful to do it later. We know people who are living paycheck to paycheck whether they make a low income or hundreds of thousands every year. The size of your income doesn’t always matter, but financial principles always do. Sometimes you can cut expenses, and other times you can think more creatively about additional income t...
Don't Go Alone
November 02, 2023 18:33 - 19 minutes - 26.7 MBA lot of people are living alone and whether they realize it or not, living alone has a cost. This isn’t just regarding whether you are married or single, some people are financially all alone. Banding together with a group of like-minded individuals can help you big time financially. Don’t go alone! Listen to this episode of Wealth Talks.
It's Getting Worse
October 25, 2023 16:00 - 25 minutes - 35.1 MBRegardless of what the government or media might claim, for many Americans, life is getting worse. As government overreach continues to destroy the private market, things are becoming more expensive and even unavailable. In this episode, find out what happened to insurance in California and discover a way you could save big with an alternative solution to health insurance.
No, We Aren't
October 18, 2023 17:12 - 25 minutes - 34.7 MBWe aren’t against 401Ks or IRAs, we are against the idea that people need to trust an expert to manage their money. A lot of people go with a 401K or IRA because some expert told them to, or because everyone else is doing it. But it’s your money, you are the most qualified person to manage it, and ultimately you are responsible for any gains or losses. So don’t just trust an expert or go with the flow, think for yourself, find the truth and the truth will set you free.
Preparing for an Economic Crash
October 11, 2023 05:47 - 18 minutes - 25.4 MBBad economies rear their ugly head fairly regularly, and while they cause damage to almost everyone, the hardest hit are those who haven’t prepared, or don’t know how to prepare for hard times. When the economy is booming, it’s easy to think you have everything figured out financially, but during a downturn you better have your ducks in a row, or it could take you under.
Bad Advice Can Cost You
October 05, 2023 14:19 - 25 minutes - 35.2 MBListening to the wrong people can mess you up financially. You are in control of your own finances, and while people may offer advice on how to handle them, it’s up to you to determine whether their advice is good or bad. After all, you’re the one who must live with the results. Today on Wealth Talks, you’ll discover a way some people can save on taxes. Will this way work for you? Maybe, maybe not. Get the details and then you decide.
Fear and Greed
September 29, 2023 06:57 - 25 minutes - 35.3 MBThere are two emotions largely responsible for controlling human behavior. Fear and Greed. Whether it be the headlines of yester year predicting a coming ice age, the global warming crisis of today, or something else, fear mongers have shrewd ways of making people react. Greed is another detrimental emotion, and interestingly, with so many people putting themselves first, our society is less happy and more depressed than ever. On today’s episode, Tom, Michele, and John talk abo...
Using Life Insurance as a Financial Tool
September 20, 2023 00:43 - 27 minutes - 37.9 MBLife insurance equity is a great tool which can be used to finance expenses and investments throughout life. Some people try and rush the equity building process, but because they don’t understand how life insurance works, they may wind up buying an inferior policy or impatiently give up on the entire idea. But when you understand the process you’ll know it’s important to “crawl before you walk.” Understand why life insurance is a good financial tool so you know the process and can ha...
Certainly Uncertain
September 12, 2023 23:54 - 24 minutes - 34.1 MBLeft, right, fast, slow, yes, no. Uncertainty is uncomfortable, stressful and can even be paralyzing. Life is filled with uncertainty. It is critically important we understand how to recognize and deal with the stresses of uncertainty to prevent them from becoming paralyzing. Resources: Winning Your Financial Game
This Could Save You on Taxes
September 06, 2023 00:46 - 28 minutes - 38.9 MB412(e)(3) plans are fully insured retirement plans. This type of plan is not dependent on market performance, it is based on the guarantees of whole life insurance and annuities. Not only does this take the guesswork and market dangers out of retirement planning, it can also save you a lot on taxes today. But 412(e)(3) plans will only work well in some situations. Do they make sense for you? Find out on Wealth Talks. Resources: A Biblical Guide to Personal Finance
Stress Around Change: How to deal with it
August 29, 2023 23:52 - 22 minutes - 31 MBStress can wear you out. Not only does stress damage your physical health, it affects your decision making ability leading to poor decisions and sometimes to an incapability to make any decision at all. We can’t avoid stressful situations. But with better planning, we can reduce them. Find out how on Wealth Talks. Resource: How Life Insurance Works - Video
Best Invesment Ever?
August 23, 2023 16:11 - 17 minutes - 24.4 MBAre you looking to make a good investment? A great investment? What about the best investment ever? Financial speaking, whole life insurance is not an investment, it is an asset. But many of our clients say purchasing well designed whole life insurance is the best “investment” they’ve ever made. Resources: A Biblical Guide to Personal Finance
Who is trustworthy today?
August 18, 2023 13:48 - 19 minutes - 27.3 MBTrusting the wrong people can really mess you up, but you do have to trust people. So, who are you going to trust and how far will you trust them? This is an area where you want to be careful to have confidence! Listen now to the latest episode of Wealth Talks. Resources: A Biblical Guide to Personal Finance