Wealth Talks

Today's episode is all about answering questions from you and others who listen to WealthTalks. From questions about serving clients in different geographical locations, to strategy and policy design concepts – you all have some great questions. And we're not done yet…more coming in a few weeks. Do you have a question for Tom and John? Submit your question to: john@wealthtalks.com

Recently there was an agent who was claiming to help people with the Infinite Banking Concept. Instead, he was swindling them. On today's episode Tom and John break down this guy's swindling setup, talk about scenarios which should have been red flags to his clients and what finally happened to the guy. They also share some practical financial tips which can help keep you from being conned. Sustai...

People are outliving their money, leaving themselves broke in their retirement. It isn't solely because they aren't saving enough, it's also because they are saving in the wrong places. In today's episode Tom and John assess the current retirement crisis to find out what went wrong. They also share details about our upcoming LIVE event which focuses on being Debt Free, Investing and Funding Retire...

In 1993 Shawn Tully wrote an article in Fortune Magazine entitled The Real Key to Creating Wealth . The concept of Economic Value Added (EVA) which Tully described changed the way the corporate world looked at creating wealth. While Tully's article was directed towards the corporate world, the concept is relevant to personal finance as well. Today on Wealth Talks, Tom and John discuss Tully's arti...

If you have business partners or plan to enter a business with partners, this show is important for you. If one partner dies or needs to exit your venture, you need to be able to protect your assets and buy out the missing partner. This show covers some general information about the different types of Buy-Sell agreements and how these agreements can be funded effectively. You'll discover: Three ba...

10 years ago, Prescription for Wealth made its debut. This small book has stood the test of time, challenging the complex financial schemes of our day with simple truth. Later books, Winning Your Financial Game , Retirement Curveball and Building Sustainable Wealth expound on the principles explained, in a nutshell, in Prescription for Wealth. As simple as these principles are, they have drastical...

The s tep-up in basis or stepped-up basis allows property and businesses to be passed to the next generation without a tax on the appreciation. Biden's new tax plan depicts removing the step-up basis. Removal of the step-up basis will seriously jeopardize the financial legacy of many Americans. Today on Wealth Talks, Tom and John discuss how we can prepare to leave a legacy in spite of this. How t...

Poverty has always existed and always will. Despite the "War on Poverty" (the most monetarily expensive war), poverty rates in America have been steadily on the rise. This should, perhaps, come as no surprise. Jesus Christ told us we would always have the poor among us, but that doesn't mean we have to be one of them. In today's show, Tom and John discuss poverty and why it has become an obstacle...

Recently we've had a few Indexed Universal Life policy contracts come across our desk for review. As part of our review process, we calculated the cost of insurance in these policies and compared it to the cost of insurance in a Whole Life product of our design. In today's show, Tom and John look at how these costs match up. While Indexed Universal Life may be the trendiest type of insurance, it l...

With possible changes to the tax code looming, it is likely life insurance will become an even more important planning tool for people who want to build and sustain generational wealth. But there is a lot of negativity surrounding life insurance and those who sell it. Public opinion of life insurance salesmen is low, coming in just above that of used car salesmen. But on today's episode, Tom and J...

Joe Biden is on record for stating "Americans will suffer under my administration". Biden's economic policies are threatening to turn out a lot like Jimmy Carter's did in the 1970s. The good news is we can try to prepare for the future by looking at the past. Interest rates under Carter were very high. But interest rates on policy loans, while higher than they are right now, were comparatively low...

There is a fascinating history around governments and the way they deal with drugs. Hippocrates warned against the use of opium except for some medicinal purposes. Yet by 1839 Great Britain was embroiled with China over the trade of opium. British ships were instructed to bring the finest opium back to England. Needless to say, this opium was not used for medicinal purposes. So what does this have...

Beyond the fact that Sam was from Tennessee, we are ignorant of much of his life… except that his cremation was the strangest sight the Northern Lights have ever seen. While not as strange, perhaps, as Sam's cremation, we see our fair share of "strange things done in the midnight sun by men who moil for gold". In this episode, Tom and John share some "strange things" about the Life Insurance Indus...

Cancel Culture isn't anything new. Although the name has changed over the years the selfish ideas and beliefs behind it have remained the same. Cancel Culture and Critical Theory thinking, a hideous blend of Marxism and Freudianism, is seriously endangering our Western Society. Today on Wealth Talks, Tom and John discuss Cancel Culture and what we can do to guard against it.

World population is a major concern… but not in the way many people see it.   Anyone who has taken a flight across the US should realize that overpopulation is not even a remote problem. In fact, the biggest problem many countries are facing today is underpopulation. Today on Wealth Talks, Tom and John talk about underpopulation and the grave danger it represents to the US. Catch the show here.

There are two categories into which all Life Insurance products fall: Temporary and Permanent. In general, term products are classified as temporary insurance, while whole life and universal life products are classified as permanent. It is important to understand how these different types of policies work when you wish to purchase the best type of Insurance. Today on Wealth Talks, Tom and John bre...

How many times have you heard someone recite sentiments along these lines "It'll be my kids' problem by then"… implying that they will be dead and their kids will have to deal with the problem instead.   The lack of responsibility is shocking, and the results of this thinking are disastrous. We are all susceptible to this type of thinking.   Even Hezekiah one of the best kings of Israel was caught...

Some people firmly believe in financing every expense in life with a policy loan. Others believe in financing only the larger expenses, and many don't know what to believe. This is a controversial subject with an endless number of opinions. While it is easy to be confused by the barrage of information available, following certain steps and keeping certain ideas in mind can simplify the decision pr...

In American society, more and more people seem to be less interested in making any sort of commitment, preferring a quick and easy relationship. Those only seeking a relationship are typically absorbed with themselves, looking only for what they can get out of the relationship. Commitments are very different. Those looking to make a commitment are interested in how they can help other people, and...

Ice cream containers are shrinking - again. It used to be common for ice cream to be sold in a half gallon cartons. Some years ago, cartons shrunk to 1.75 quarts and just recently many ice cream cartons shrank again to only 1.5 quarts.   Prices, however, did not shrink accordingly. Most prices stayed the same. This latest change is the equivalent of a 16.667% price increase. Some people may blame...

Gino Bartali was an Italian cyclist. Winning the Giro d'Italia in 1936 and 1937 and the prestigious Tour de France in 1938, Gino went on to win two more titles after the War, the Giro d'Italia in 1946 and the Tour de France in 1948. But it wasn't for any of these races that Gino became a hero, it was for his work in the Underground. Under the guise of training, Gino carried papers all across Italy...

Buying a Whole Life Insurance policy is a lot like starting a business that is guaranteed to succeed. In a world where 90% of startup businesses fail, talking about guaranteed success seems strange - even perhaps a little fishy. But when it comes to life insurance, you can indeed find sustainable guaranteed growth. Guaranteed growth may take more time than some investments, but the slow & steady a...

Paul "Bear" Bryant famously said " Offense sells tickets. Defense wins championships ." Many investment advisors today are hyper-focused on the offensive side of wealth building (investing). Wealth building is just as much defense as it is offense. In today's episode, Tom and John discuss how to get your Wealth Building defense running smoothly. Resources: Order Winning Your Financial GAME

Many people pursue money to their own misery. If they only had more money, they reason, they would be happy and contented. With this mindset, they will never be happy. They will either be poor and miserable, or they will be richly miserable. Wealth, on the other hand, isn't dependent on money. Money can be a part of wealth, but wealth is not a part of money!     Today on Wealth Talks Tom and John...

Securities. The very name fills one with the sense of safety, conjuring up images of bank vaults, locked safes and armed guards.   Ironically, many so-called securities are not secure. In fact, most securities are risky. …which brings up a question…are whole life insurance products considered securities? Do they share any similarities with securities? On todays episode of WealthTalks, Tom and John...