0013. The 7 Benefits of 3rd Generation Annuities
Financial Independence Now
In this episode, I continue my deep dive into annuities, focusing on the transformative benefits of 3rd generation annuities. These modern financial tools offer a balanced and secure approach to planning your financial future. I explore 7 key benefits—flexibility, safety, liquidity, growth, tax deferral, low to no fees, and longevity protection—and discuss how these features can empower you to achieve your financial goals. Tune in to discover how 3rd generation annuities can be a cornerstone in your journey toward financial independence. If you missed our previous episode, I highly...
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0012. The 3 Generations of Annuities
Financial Independence Now
In Episode 12 of the Financial Independence Now podcast, host Randy Luebke, discusses the topic of annuities, clearing up many common misunderstandings surrounding them. He compares annuities to familiar financial instruments like Social Security and company pensions, emphasizing their importance of considering the use of annuities in retirement planning. The episode details 3 Generations of Annuities: The First Generation Annuities (Gen1), or Fixed Indexed Annuities, are likened to certificates of deposit (CDs), where the investment is tied-up for a specific period of time. The interest paid...
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0011. Budgeting for Dummies
Financial Independence Now
In this episode of Financial Independence Now, host Randy Luebke dives into one of the most crucial yet challenging aspects of financial planning – budgeting. Randy introduces a practical strategy to simplify the process, the "false scarcity" method and categorizing expenses into essentials and lifestyle. Listen in as Randy breaks down essential expenses into six categories: food, shelter, clothing, healthcare, transportation, and taxes, and explains how to track and manage these effectively. He also shares insights on setting aside savings and managing payroll taxes, making budgeting...
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0010. Roth Math
Financial Independence Now
In this episode of The Financial Independence Now podcast we debunk several common myths and misinformation surrounding Roth conversions. We call this “Roth Math” and most people don’t understand it. Discover the essential considerations that you need to understand because they will significantly impact your decision to convert your traditional IRA’s, 401(k)s and other traditional retirement savings plans into a Roth. Trust us, you will be surprised with what you will learn from this podcast. Episode Highlights: Explore the misconceptions surrounding...
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0009. The Four Sequential Steps
Financial Independence Now
In this episode, Randy Luebke, president and founder of Lifetime Paradigm, takes you through the four sequential steps to achieve financial independence. Randy breaks down each step and highlights why people often fail to reach financial independence when they skip these essential stages. The key to success lies in following the step-by-step process diligently. In this episode: Recap of The 4 Essential Elements The 4x4 Financial Independence Plan ℠ The 4 Sequential Steps and why they are crucial for achieving financial independence Step 1: Optimize Everything Step 2: Eliminate...
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0008. The Four Essential Elements
Financial Independence Now
In this episode of the Financial Independence Now podcast, Randy Luebke introduces the concept of The 4 Essential Elements as part of The 4x4 Financial Independence Plan sm. The 4x4 Financial Independence Plan sm is comprised of 4 Essential Elements and 4 Sequential Steps. The 4 Essential Elements include: Retirement Planning, Asset Protection, Estate and Tax Planning. Retirement planning is very different today than it was for your parents and grandparents, who typically worked one job their entire life and then retired with...
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0007. Discipline Vs. Desire
Financial Independence Now
In this episode, we unravel a powerful truth: Discipline alone isn't enough to sustain you on the path to achieving your most cherished goals. Discipline can get you started, but in the long run, you are going to need more than discipline to see you through to the end when you are trying to achieve almost any worthy goal. In this episode of The Financial Independence Now podcast, we dive deep into the mindset required for achieving financial independence with our expert host, Randy Luebke. Randy throws discipline out the window and replaces it with a stronger and more powerful emotion,...
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0006. What Is A Fiduciary?
Financial Independence Now
In this episode, we dive into the often-misunderstood world of financial advisors, and the distinction between fiduciary and non-fiduciary advisors. In this eye-opening presentation, we will help you to understand the very important differences between these two groups, and why recognizing those differences is so very important to you. We will provide you with the details that differentiate fiduciary advisors from their broker-dealer counterparts and their standards of care. For example, broker-dealer advisors are held to the standard of “Suitability”. Most people think they know...
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0005. The Three States Of Money
Financial Independence Now
Do you remember back in high school when you were taught that all matter in the universe exists in only three different states: solid, liquid, or as a gas. Also, while all matter must exist in one of the states, matter can only exist in one state at a time. Meaning, it’s either a solid, liquid, or a gas, but it can never be in more than one. Did you know that money has similar qualities? Money also exists in just three states, and money can only exist in one of these states at a time as well. Did you know that money has similar qualities? Money also exists in just...
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0004. The Penny Story
Financial Independence Now
In this episode of the Financial Independence Now podcast, Randy explores the concept of attaining financial independence by teaching you how to turn one penny into millions of dollars in just one month. He'll take you on a journey through “The Penny Story”, which explains how a penny that doubles every day for just one month can be worth over $5 million. While this strategy is hard to believe, it is also very real due to the power of compounded interest. The Penny Story demonstrates how investments grow exponentially over time. Randy discusses how time can be both a...
info_outlineThis is the inaugural episode of "Financial Independence Now", and it is a “must-listen”. In this episode, Randy Luebke discusses the keys to achieving financial independence, something he calls Retirement 2.0. You see, retirement today is very different than it was for your parents or grandparents. Their retirement plan, or Retirement 1.0, generally meant they would work for one company their entire life. Then, once they stopped working, they were done working altogether.
The problem with the Retirement 1.0 model is that most people would work until they couldn’t and, as a result, they would put off doing many of the things that they enjoyed, including spending time with those they cared about most. This concept is called delayed gratification and, while this strategy does have many benefits, the biggest downside is that none of us know how many years are ahead of us, and what a shame to put off living the life you dream of for decades only to learn that you really don’t have as much time as you hoped ahead of you.
Today’s retirement, Retirement 2.0, is about beginning to live the life you dream of, NOW. It’s about doing more of the things you really enjoy and spending more time with those your care about most, today. Randy is not advocating financial irresponsibility. On the contrary, he insists you live within your means today and forever. What he advocates is achieving Financial Independence, “When the assets you have, provide the income you need, to live the life you want, and work, is no longer a requirement, it’s an option”.
Randy explains that with financial independence, you will still utilize delayed gratification, however, the goal is no longer about working for a living and then retiring to begin living your life. Instead, it’s about working to achieve financial independence as quickly as possible. You see, most people, work to earn money to buy things. Wealthy people work to buy things that make money. Those “things” are assets, like businesses or income property or annuities and pensions. This is a shift in the retirement paradigm. A shift to beginning to live the life you want today, by acquiring the assets you need to provide the income you need to live the life you want, a less stressful and more fulfilling life.
Topics Discussed:
- The definition of financial independence
- The benefits of achieving financial independence
- The five steps to achieve financial independence
Links Mentioned:
- lifetimeparadigm.com
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