Dave Ramsey Retirement Income
Wealth Talks
On a recent Dave Ramsey show there was a caller who is a trim carpenter making decent money, but wanting to save more. He was divorced 8 years ago, and now has 23k in savings. He owes about 25k left on his mortgage, and has a 20k dollar loan on his motor bike. Dave gave some shocking advice to this guy! We have a much different approach to how we help our clients than what Dave said to his caller, so we decided to add our commentary on this episode. What are your thoughts on how Dave advised his caller? Go here to get the Infinite Banking Made Simple Binder for free: Follow the...
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Warren Buffet and Savings
Wealth Talks
Warren Buffet has some advice on saving. We listen to what he has to say and discuss it. Savings is the foundation of building wealth. If you can keep your savings earning a return while you also use it to buy things, you can grow wealth even faster. Listen and discover how to grow wealth. Go here to get the Infinite Banking Made Simple Binder for free: Follow the Wealth Talks Podcast on: Instagram: Facebook: Watch the Wealth Talks Podcast on: YouTube:
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Lump Sum Infinite Banking Policy
Wealth Talks
A common question we get asked is, can I start Infinite Banking with a Lump Sum? The short answer is: Yes We find that what most people are really asking with this question is, Does it make sense to start Infinite Banking with a lump sum? A detailed answer will take into consideration the specific amount of the lump sum, personal details, as well as rules and regulations that will apply to you, and will tell you not only if it is possible, but if it is profitable. In this episode we share examples and scenarios that we've designed and observed, where people have funded Infinite Banking...
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Qualified Plans vs Infinite Banking
Wealth Talks
When people think about saving money to get ahead financially, they often think about a qualified plan. Unfortunately, qualified plans have not been all what they were cracked up to be, and today people are saving less than, before they were introduced to “help people save more” Savings have become an after thought for many people today. In reality, savings should be treated with as much urgency and importance as your house payment, car payment and other expenses. It is easier to save money when its is not locked away behind early access penalties. Its easier to save when your savings are...
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Retirement Funding with Infinite Banking
Wealth Talks
People are not saving enough for retirement. People who are saving, are not saving in the best places. This is creating a lack of funds in retirement, and often a need to go back to work later in life. Neither of these are good options. We help people plan for and fund their retirement in a non conventional way. This allows our clients to have the freedom to progress financially even in retirement, rather than having to retire to a less and diminishing amount of income.
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The Infinite Banking Mindset
Wealth Talks
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: Gaining a new perspective is essential for growth and transformation. It’s easy to stay locked into familiar ways of thinking, but changing your thinking and mindset will unlock new potential. Listen as Michele and John bring to life small easy steps you can make to transform your finances and life to the next level. It all starts with where you are and with what you have. Listen Now
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Money, Marriage and Kevin O’Leary
Wealth Talks
Today we're going to talk about how to discuss money in your marriage, and when. We'll also have a discussion on managing your own home economy. Money and Marriage are two things that should go together well. If they don’t go together well, they usually no longer go together at all. Divorce happens. Divorce is never pretty, and deconstruction of a family is bad for everyone. We have had to make financial decisions in our marriage over the years that we never would have anticipated. We have also witnessed other couples make financial decisions over the years (good and bad). You'll get to hear...
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Infinite Banking Seminar Report | Episode 521
Wealth Talks
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: Here are some highlights from our recent live seminar Infinite Banking Made Simple. One of the seminar attendees wrote: "Anyone can benefit from this [the Infinite Banking Concept] if they can wrap their mind around it." She is right! Go here to get the Infinite Banking Made Simple Binder for free: Follow the Wealth Talks Podcast on: Instagram: Facebook: Watch the Wealth Talks Podcast on: YouTube:
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People's Biggest Financial Mistakes
Wealth Talks
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: Today we are discussing the biggest financial mistakes that we see people make. It is our hope that by discussing these financial mistakes you can avoid making them yourself. Watch on YouTube: Follow the Wealth Talks Podcast on: Instagram: Facebook:
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How to Have Financial Freedom
Wealth Talks
📄 INFINITE BANKING MADE SIMPLE | GET THE BINDER HERE: https://mcfieinsurance.com/ What is Financial Freedom? Is it the ability to buy anything you want at any time without looking at the price tag? Is it having enough money that you “Never have to work again.” Is it not having any debt and no debt payments? Money isn’t everything, but it rates reasonably close to oxygen on the “gotta have it scale” Everybody knows what money is, but what is financial freedom? Do people have financial freedom once they finally have a million dollars in a bank account?...
info_outlinehe 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 encouraged to save more in these accounts. It will also increase government tax revenues because of the 10yr distribution rule on inherited accounts.
Also under the Secure Act, employers get a tax credit by automatically enrolling employees in the company sponsored retirement plan (Small-Employer Automatic Enrollment Credit). If you don’t want to be automatically enrolled into contributions to your company retirement plan you may need to take action to opt-out.
Now is a good time to consider how much of your money you wish to invest in tax-qualified accounts compared to paying the tax and building wealth in other types of accounts where you have more control, lower fees and less market risk.
For example: Target-date mutual funds are a default option for most retirement plans with an automatic enrollment. Target-date funds are sold as a “set it and forget it management strategy” and they are also notorious for high fees. Fees are a killer whenever you try to grow your money.
Compare target-date funds with the guaranteed values that build in participating whole life insurance policy over a similar time period. It could make sense to keep the control of your money and lock in guaranteed growth through life insurance + leave any legacy to your heirs income tax-free, instead of putting them into a higher tax-bracket with required distributions on an inherited tax-qualified account.
Wealth Workshop in Las Vegas Jan 18th - Register now
Most people are losing money with typical financial planning. Learn to use Life Insurance as a Financial tool while you’re living so you can keep more of the money you make and have financial peace of mind.