Wealth Talks

Today We take a look at the election results, and what we can expect and prepare for financially with a second Donald Trump administration.   Please review us on Apple Podcasts: Go to the podcast app and write a review or go to this link, click listen on Apple Podcasts then scroll down and click "write a review" https://podcasts.apple.com/gb/podcast... Follow the Wealth Talks Podcast on: Instagram: https://www.instagram.com/wealthtalks... Facebook: https://www.facebook.com/profile.php?...  Watch on:  YouTube: https://www.youtube.com/watch?v=x3PB3eDjkLg 

Voting is a Duty. To use the words of early president John Quincy Adams, "duty is ours, results are God's". Not voting in a U.S. election would be to shirk our duty and let our fellow Americans down. There is no patriotic way to sit on the sidelines and not vote in an election. If you are a citizen of the united states, you have a duty to discharge. Listen to this before the polls close. Voting is a duty. Please review us on Apple Podcasts: Go to the podcast app and write a review or go to this link, click listen on Apple Podcasts then scroll down and click "write a review" https://podcasts.apple.com/gb/podcast... Follow the Wealth Talks Podcast on: Instagram: https://www.instagram.com/wealthtalks... Facebook: https://www.facebook.com/profile.php?...  Watch on:  YouTube: https://www.youtube.com/watch?v=x3PB3eDjkLg 

The topic for today’s podcast is investment banking. We think that if you act like an investment banker in your own life you will be more profitable and get ahead faster financially. The way you think and what you think about is the foundation for what you do. If you can think like an investment banker, and act in accordance, you can have opportunities to grow your wealth like banks and businesses. In specific situations it is beneficial to think like a banker. I tell people “You need to put on your banker’s hat.” Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast 

Some people are pretty well stressed out. Of all the things people stress about, of which there are many, somewhere near the top of the list is money! Financial stress is a big deal and that’s what we are talking about today! Financial stress can be horrible or beneficial, and the effects can reach into all the areas of your life. It's all in how you respond to it. This is what we are here to talk about today. Hopefully This episode is helpful for you as you deal with whatever stress you have in your life. Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast     

If you have a small business or entity that requires filing with your state, there’s a new rule you need to comply with by registering with FinCen. The filing is mandatory and the consequences are massive for not complying. It is estimated that 50% or more of small business owners do not know about this rule. Make sure you listen to this episode so you know what to do. Expert Attorney Lee Phillips will explain who, and when you need to register, and also how. We’ve worked with Attorney Lee Phillips over the years to develop asset protection for businesses and individuals, using things like LLCs, S corps, wills and trusts etc. Attorney Phillips is a great asset, and today you get to learn from him on Wealth Talks Podcast.    

Some people have owned whole life insurance for several years and they want to get more involved with infinite banking. They want to make sure that they are using the infinite banking concept and their policy to their best advantage. That’s good. Today we are going to talk about how to do that. Some things we will talk about in this episode will be: Should you borrow from your cash value for everything? When should you take a policy loan? Do you have to pay back a policy loan? Should you pay back a policy loan fast? Can someone own multiple policies? ENJOY!

Investment Grade Life insurance is not an actual product. It is rather, terminology that was created to sell more life insurance. Listening to this episode will help you to better understand what people mean when they use the phrase "Investment Grade Life Insurance". There are lots of different types of life insurance policies out there. Some are good, some are bad. Life insurance is sold by honest and dishonest people. If you want a policy that helps you keep more of the money you make, grow your wealth and give you financial peace of mind, make sure you get a good policy and buy it from someone who has good character.  

Being in the financial space like we are, we get asked about what will happen if the dollar collapses, we get asked what we think about cryptocurrency. Do we think the dollar is doomed? Do we think Crypto is a good investment? Do we think Crypto will replace the dollar? We’re going to talk about all of this right here right now, buckle up.  One of the most well known cryptocurrencies is Bitcoin. I don’t own Bitcoin, but we have clients who do, some of them did very well when bitcoin went up so significantly in 2020.  That’s one side of the coin, the other side of the coin is that we have clients who believed so strongly in the future of Bitcoin that they mortgaged their home to buy it and ended up losing their house. Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast 

A lot of people have Trust issues... we're not talking about psychological trust issues, we're talking about issues they have with a legal Trust. One of the Trust issues people have is simply not having any Trust at all. That’s an issue because Trusts keep estates out of probate! There are many legal tools available that can provide specific benefits in specific situations. Many of the legal tools that are used by the wealthiest people have been established to grant the wealthiest people exceptions to rules. You don’t have to be extremely rich to use and benefit from the same legal tools, but on the other hand, just because they are available doesn’t mean you should or have to use them. The more you know about the legal tools available, how they work, the benefits they can provide, and the problems they can create the better decisions you can make to grow and protect your wealth. Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast   

Are you bored with your budget?  Are you tired of feeling frustrated and limited? Budgeting doesn’t have to be boring. If you structure your budget the right way, you can feel free and creative instead of trapped. To be effective, a budget has to be practical and also flexible. Listen to this episode and discover some new creative ways to work your budget. Budgeting can be fun and extremely rewarding, if you do it the right way. Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast 

Many people think slavery in America was a thing of the past, we fought a civil war to end it and we’re glad it’s gone, but there are many people today who are enslaved. We are talking about financial slavery and how to escape the bonds of financial slavery today right now on Wealth Talks. Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast 

Someone asked us to respond to the opening and closing ceremony at the 2024 Olympics, Brett asked us to talk about what someone should do with the money if they win the lottery, and Carlo asks if we had the choice between taking retirement benefits at $7800/mo. with lifetime free medical vs a lump sum of $1.5million dollars which one we would choose. 3 completely different questions, but all interesting in their own way. We are going to talk about all three of these things today right here on Wealth Talks. If you you have a question, or would like us to comment on a topic, feel free to reach out in the comments below. Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast   

Not long ago in podcast 469 we Rebutted a Dave Ramsey video that a podcast listener sent us. That podcast episode has been watched by hundreds of people and the feedback has been really something. A lot of people loved it and some people didn’t, you can see their feedback in the comments on episode 469. But through it all, another listener sent us another Dave Ramsey video and we are going to respond to that video today. If you haven't seen this particular video you can watch it here: The Dave Ramsey video Jonathan sent us:  https://www.facebook.com/story.php?story_fbid=985650382924576&id=100044388700838&mibextid=WC7FNe&rdid=I82xtNhc7kJWBVgW 1:38 Is life insurance an asset?  2:28 Dave Ramsey's life insurance example 10:00 Do you need life insurance after age 50 12:46 When Buy Term and Invest the Difference doesn't work out 14:33 Should you invest or buy life insurance 16:39 Fisher Price donut ring demonstration 21:12 Is Dave Ramsey a life insurance agent? If you have a question or content you would like us to comment on in the podcast, reach out to us in the comments. We look forward to hearing from you soon.

Credit unions will mail out life insurance offers sometimes. Are they a good deal? Should you buy life insurance through a credit union offer? That’s what we are talking about today. Credit union life insurance is better than nothing, but there are better deals. Listen and learn about the different types of life insurance available for you today.   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    Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast 

If you own a business you can absolutely use the infinite banking concept to fund business expenses and that’s what we are going to talk about right now in this episode of the Wealth Talks podcast. A lot of business owners want to use infinite banking to finance business expenses because of the intrinsic benefits. We’re going to talk about the benefits and also the process of using the infinite banking concept for business.There are a few things you want to get right to get all of the benefits and have no problems. The benefits include tax benefits, time savings, increased profits, more productivity, cost savings, flexibility for loan repayments, better cash flow and peace of mind. In this episode we talk about: • Real concrete examples of a business loan and the results • How to use the infinite banking concept to help with taxes • How you can keep the interest personally that your business pays on the loan • How you can finance equipment that will increase productivity • How to get a discount on subscriptions and commercial insurances by paying in advance • How to defer loan repayments to a more lucrative season if necessary to improve cash flow   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    Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast   

In this podcast we are talking about the problems with the infinite banking concept.   The infinite banking concept is an idea not a product. The infinite banking concept is a way of thinking about money and finance in a way that allows you to keep more of the money you make, grow your wealth and have financial peace of mind.  Some people think the infinite banking concept is a life insurance policy. Or that a life insurance policy is an infinite bank. It is not. The only reason life insurance is associated with Infinite Banking at all, is because life insurance has tax preferred treatment, gives the owner reasonable growth on their money, provides protection and lets the owner leverage their money without giving up policy growth or guarantees.  Some big problems we see when people try and get set up with the Infinite Banking Concept are: • Too big of premiums • Borrowing to pay premiums • Borrowing and repaying loans just because  You can avoid these problems and be successful with the infinite banking concept by learning how it works and implementing it correctly. We will cover that in this podcast too.  If you have a question about the Infinite Banking Concept, ask your question in the comments, or send an email to producer@wealthtalks.com so we can answer your questions right here in the studio. 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    Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast 

If you wonder how much life insurance you need? Or how much life insurance you need for infinite banking? This is your podcast. The most honest answer to the question of, “How much life insurance do I need?” is, “Nobody knows”. And the shortest answer to the question of “how much life insurance should I have” is probably, "MORE!" ... let us explain A lot of people settle for the life insurance they’re offered through work or from a friend, some people don’t have any life insurance at all, but people who understand how life insurance works want it and they want specific policies and certain amounts. We are going to talk about how to get the life insurance you want, how to use the cash value while you’re alive and how to provide financial peace of mind for your family when you die. 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    Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast 

This podcast will be helpful to those who want to keep more of the money they make, grow their wealth and have financial peace of mind. On a side note... We have Jasper here in the studio with us this morning. He’s 9 weeks old German Shepherd Puppy. Jasper is our up and coming guard dog. We have a guard dog up at our house already, her name is Lulu, she’s a german shepherd also and does a great job, She patrols around our house, but Jasper’s duties will be to guard the barn area. German Shepherds and Life Insurance go hand in hand in our family. Listen to hear the story on todays episode of Wealth Talks Podcast. 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    Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast 

As we teach people about whole life insurance, how to manage money and the infinite banking concept, time and time again people tell us  “I wish I would have known about this sooner”, or, “they should teach this in high school”. When you find something that works so well, it’s hard not to look back and wish you had that knowledge or that product earlier in life.  In this episode, Episode 477 of the Wealth Talks Podcast we are going to talk about the things we wish we knew about finances before age 18. That covers high school also, yes, some of these things we talk about today, should be taught in high school. 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    Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast 

Today 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 interest am I paying myself back principle and interest? 4. Does the interest I owe on a policy loan change every month if I am making principle and interest payments monthly back to the policy? 5. What is the interest rate that the guaranteed cash values compound at? 6. How is the dividend rate determined? 7. Is the dividend rate the same as the compounding growth rate of the policy cash values? 8. Can the insurance company alter my life insurance contract if I start flight lessons? 9. When I borrow money from my policy how does it affect the guaranteed growth of my policy? How does it affect the dividends? How does it affect the face value? 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    Listen to the Wealth Talks Podcast on: Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163  Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8  Youtube Music: https://music.youtube.com/playlist?list=PLwU1nBBz00on-wImV9bLClndzJhc0a2eu Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast