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Wealth Talks

Author: Dr. Tom McFie

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Wealth 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
211 Episodes
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Did you know, that successfully avoiding risk can be more important to your wealth than finding great returns? ⚠️ But most people (including financial planners) think they can “manage risk” when they’re simply hiding the risk instead. Don’t let this bite you.🦈 Learn from a real-life story of Steve Wynn’s Mirage Hotel & Casino + the fact that “In the last fifty years, the ten most extreme days in the financial markets represent half the returns. Ten days in fifty years!” In 1911 the Supreme Court ruled Life Insurance was a Transferable Asset, and Justice Oliver Wendell Holmes wrote the court opinion saying life insurance is one of the “…best recognized forms of investment and self-compelled saving.” Discover how you can manage risk through whole life insurance in a way that’s impossible through the Stock Market alone.   Resources: Supreme Court Ruling Grigsby v. Russell (1911) - On Life Insurance as Transferable Property How to Read a Life Insurance Illustration - Video   The Black Swan - book by Nassim Taleb
You will hear all sorts of fluffy marketing terms when it comes to building wealth with life insurance. 🎧 Listen for tips on how to cut through to the real meaning and understand the keys to manage your money wisely. A good litmus test that still holds true = “If it sounds too good to be true, it probably is.”  Of course Truth does provide amazing results, AFTER the foundation has been laid. Good things take time to grow.   It’s not so much about the money you SAVE - its about the Money you KEEP and there is a big difference! Not all advice is applicable for all levels of financial strategy - This is one lesson that will always help you stay on track at every level of your financial journey.   Resources: How to Read a Life Insurance Illustration - Video Life Benefits Website - Blog, Podcast, Videos
Are you having to pay more income tax for 2018 than you planned?🇺🇸 Jack Cohen CPA joins us for a quick interview to share what he’s seeing as 2018 returns are processed. You may not be getting as big a tax refund this year because of the way withholding is calculated under the new law...instead, you most likely keep more with every paycheck. The IRS will be releasing a new W-4 form later this year which could complicate withholding for employees. Most Americans are indeed paying less federal income tax overall UNLESS you live in a high-income/property tax state like California, New York, New Jersey or Illinois. Section 199A of the new law is great for business owners, but there are special situations CPAs are working through for the first time. Small changes can significantly affect your bottom line and calculations can be complex. Good idea to get a second opinion if your 2018 return doesn’t seem quite right. Contact Jack Cohen for a Free Review of your tax return - no strings attached: 702-255-2330   Resources: 2017 Law Cut Taxes for Most Americans - NY Times Campbell Jones Cohen CPAs - Website
Similar to a 1031 exchange in Real Estate 🏘, a 1035 exchange lets you avoid tax and transfer your “cost basis” when exchanging life insurance policies.   Do you have a policy that isn’t performing the way it ought to be? Is your insurance agent wanting you to exchange into a new life insurance policy? Should you do this?   Here’s an overview with Pros and Cons and what you want to know to decide whether a 1035 is the best idea for you.   Also some clarification around when it makes sense to take a policy loan - triggered by a recent conversation with Dr. Jim. Thank you Dr. Jim!   Resources: Atlanta Workshop - May 4th 2019 How to Read a Life Insurance Illustration - Video  
🛳 Come experience the Wealth Cruise Oct 19-26th 2019! Launching from Ft. Lauderdale, FL and touching ports in St Thomas, Grand Turk, Half Moon Cay, and San Juan you can expect delightful destinations with beautiful blue waters AND…   You’ll get to hear proven practices for wise Money management, strong Family Relationships and good Health from the McFie Family, Krish Dhanam and Dr. John Bergman. This will be an experience much different than the Wealth Summits!   Cabin prices start at 1,698 (double occupancy). Only 350 deposit per cabin is required to reserve. May 1st is the soft deadline. This means prices can go up after May 1st and availability is not guaranteed. Reserve your cabin now and start looking forward to this one-of-a-kind experience.   Contact Anila Dhanam to reserve your cabin: 469-261-6067 Contact Life Benefits for general cruise questions: 702-660-7000   Resource Links: Wealth Cruise Info Interview with Dr. John Bergman - Podcast Archive Interview with Krish Dhanam - Podcast Archive
Wikipedia reveals 91 different types of insurance 😲 - many of them you will never need. Life Insurance gets high attention on this show with good reason. There is a place for other types of insurance too. Did you know there is insurance that will pay you an income if you become disabled (Disability / Disability Income Insurance)? There’s also insurance to help cover expenses for Long-term care such as Assisted Living. Today John and Gracine McFie share what you should know about these 2 types of insurance.   Call for personalized quotes: 702-660-7000   Resources: More info on Disability Insurance - www.ProDisability.com
What’s the difference between direct and and non-direct recognition? Does it matter? 🤷‍♀️ How does Re-insurance protect policy owners and beneficiaries? An inside perspective on Artificial Intelligence (AI) coming into underwriting processes. Official Ratings versus strong financials and Capital Surplus. Special Interview with 2 Vice Presidents of Ameritas Life Insurance Company: Rob Sharp and Kelly Halverson (Kelly is also an Actuary - one of the scientists who crunch the numbers behind life insurance)   Ameritas provides a great selection of whole life and term life insurance policies with strong guarantees.   Questions answered, big words made easy + an inside perspective on what it takes to make strong guarantees for policy owners at Ameritas.   Resources: Ameritas 2018 Annual Report - Open Ameritas Financial Highlights - Web Link Direct of Non-Direct Recognition: What Difference Does it Make? - Blog
Come behind scenes and hear the reasoning around insurance company ratings, portfolio management, dividends and what it all really means for you in this special interview with Karl Kreunan - Vice President of Ohio National Financial Services. Karl makes detailed life insurance topics easy. “Life insurance is a significantly underutilized financial asset” - use it in your life and enjoy the financial security it will provide for you and your family. Astronaut Neil Armstrong knew the value of life insurance, but he couldn’t get any before his trip to the moon because of the high risk. Find out what he did instead.   Call us for a personal strategy session: 702-660-7000   Resources: Ohio National’s 2017 Annual Report - Open
You will love this entertaining and useful example of a 5% average rate of return! 😯 And you’ll never think the same way about AVERAGE returns again. Explore how returns work in life insurance and what type of life insurance works best as a guaranteed foundation of protection and savings for your family. Information is everywhere today, but real Knowledge and Understanding are the keys 🔑 you’ll need to win big because at the end of the day it’s not all about how much money you can MAKE, rather how much you KEEP. Make sure you are playing the LONG GAME.   Resource: How Life Insurance Works - Video
When first hearing about The Perpetual Wealth Code™ you might wonder if you need to do something else first. Do you need to SAVE first? Or PAY OFF DEBT first? Or should you INVEST first so you have more money to do the Perpetual Wealth Code™? Discover what you should do first and what comes next on the best road to financial freedom. It all makes sense when you get the full perspective. Call us for a private strategy session to gain perspective on your finances and how the Perpetual Wealth Code™ can work for you: 702-660-7000 ALSO IN THIS EPISODE: A recent caller with maxed out credit cards 💳 wants to retire in 5 years by investing in Real Estate. 🏠 Is is it possible? Listen to this episode to hear the details
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Comments (4)

Jignasha Chetan

What are those two books they talk about in this episode

Feb 23rd
Reply

Tom MacDonald

hi guys I came across your podcast and thought I would listen to it. But episode 187 was essentially devoid of any meaningful information. I was waiting for the meat of the meal should be put on the table and all I kept getting was appetizers. I'm kind of using that metaphor because I think you overdid it with the metaphors as well. cover the 5 w's and give specific examples would be helpful. I ran a radio talk show Program for a couple of years and I know you have to fill up time. I get that but make sure you get concrete information out along the way. like most things in life that are free they still have to bring value or else your time ends up being wasted. Cheers and good luck

Dec 6th
Reply

Mark I

you could have just said you dont understand bitcoin, and dont invest in it which would be valid but ranting on with gospel passages etc. was painful to listen to!

Jul 19th
Reply

Teresa Christ

delect

Mar 24th
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