Wealth Talks

The death benefit is probably the most prominent feature of life insurance and the feature most people think of when they think of life insurance. But that's not the only benefit of life insurance, you can use the cash value of your life insurance while you're still alive because your life insurance policy is collateral. You can also assign your life insurance as collateral to use other people's m...

Most people think life insurance is for when you die, it is, but, you can also use the life benefits of whole life insurance while you're still alive. What about term insurance though? Is it any good or is it a waste of money? Many people who have term life insurance now are going to be severely disappointed when their term is up because you can't turn back the clock and get new coverage at the sa...

We get to listen to an interview with real estate investor John Morey.  John talks about why he bought whole life insurance, how he started out using it wrong.  Why he like to use whole life insurance to grow his wealth, and how he teaches other people about how they can benefit from using life insurance and invest in real estate. 0:00 Interview with John Morey 3:41 What is a MEC policy? 5:08 Don'...

Mark Twain has the credit for saying, "The Return of my money is more important than the return on my money." It is better to make an investment that returns a small increase as well as your seed money than it is to make an investment that has a large projected return but fails to return your seed money. Warren Buffet said, "The first rule of an investment is don't lose, The second rule of an inve...

Every time you spend money you are making an investment. It's either a good investment or a bad investment. Do not buy into the idea that investments have to be something rare, exclusive, elusive, exciting or in a land far away.  Some of the best investments are right in front of you, if you can't see them it's because you look at everything the way most everyone else does. You can and should beco...

There are two kinds of debt, good debt and bad debt. Good debt is debt that gives you a financial advantage; tax benefits, better cash flow and the ability to take advantage of opportunity. Bad debt is debt that costs you opportunity, causes stressful cash flow issues and cripples you financially. In this episode we talk about how to payoff bad debt and how to use good debt to your advantage. 4:19...

The savings rate in the US has been going up a bit recently but it's still lower than what it should be. Generally speaking, people aren't saving enough money to have financial peace of mind. But when someone does save money there are a host of decisions to be made on how to keep that money. In this podcast we talk all things savings, how to save money and where to keep money you have saved. Resou...

Becoming your own banker, the infinite banking concept, bank on yourself and other financial concepts promote the idea of using the life benefits of life insurance. Many people think life insurance is for when you die, that's true, but you can also use life insurance while you're still alive. There are benefits to using life insurance as a financial tool that you cannot get with any other financia...

Throughout this year you will get to make financial decisions. If you make good financial decisions you will get ahead faster.  In this podcast we will share knowledge that you can use to make good financial decisions. Please go here and write a review for the Wealth Talks Podcast:  https://podcasts.apple.com/us/podcast/wealth-talks/id978187163   –Thank you! 2:11 Financial metrics that confuse peo...

The tragedy of financial resolutions is that resolutions often go unfulfilled. If you want to achieve something financially significant in a new year it is better to set a goal first and then make your resolutions. 0:00 The Tragedy of Financial Resolutions 1:13 Resolutions vs. Goals 4:25 What is a Goal? 10:32 Why specificity matters when setting goals 11:28 Why people don't set goals 14:20 Ad brea...

In our family's Christmas gift exchange this year we have a $20 limit. We drew names last month and the rules are that the drawing results are confidential and you can't spend more than $20 on the gift you buy. In this Bonus Christmas Podcast we discuss how putting a financial limit on our family gift exchange increases creativity. 0:00 Intro. 1:19 John's most memorable gift. 3:47 Why a financial...

We share our reasons for moving from Nevada to Indiana and the financial implications of switching houses. We talk about:  Buying our new house while selling our old house Our backup financing plan Why we paid cash for the new house God's timing Freedom and politics Resources: The Wise Man Foolish Man card game, buy it here: https://amzn.to/41iOTGE Follow along: Instagram: https://instagram.com/we...

Prior to moving from Nevada to Indiana we took a life insurance policy loan and let that money sit in our checking account because we expected to have some "unexpected" moving expenses. The money sitting in our checking account was our cash cushion. We talk about the "unexpected" expenses that arose  02:34 Video footage of our moving caravan  How we paid for those unexpected expenses to recover ou...

Recessions occur throughout history fairly regularly. Governments often attempt to prevent them from happening, and while these efforts may temporarily delay a recession, they can't prevent one. Since we can expect to see multiple recessions throughout our lifetime, it's wise to be prepared. In today's episode, find three things you can do to prepare for the next recession. Resources:  Wise Man Fo...

Many people want to accomplish more than the status quo in life, and they see money as a means to the end. Money is an important tool, but sadly, some pursue money without a basic understanding of how it works and what it can and cannot do. These people often end up hurting themselves instead of making their lives better.   Resources: A Biblical Guide to Personal Finance

Scare tactics are often used to coerce others into taking a desired action. These tactics attack the victim emotionally, causing them to react very differently than they might if they logically analyzed the situation. A critical first step to surviving financially is being able to think through and around scare tactics. This podcast will help you prepare mentally, so you can avoid becoming a victi...

Remember the old saw "Never judge a book by it's cover"? This proverb cautions against making judgments based only upon outward appearances. Appearances can be a good indication, but basing a decision solely upon them can lead to serious consequences. In today's episode, find out how appearances did us in... or was it interstate 40? You decide.   Resources: A Biblical Guide to Personal Finance

Remember the old saw "Never judge a book by it's cover"? This proverb cautions against making judgments based only upon outward appearances. Appearances can be a good indication, but basing a decision solely upon them can lead to serious consequences. In today's episode, find out how appearances did us in... or was it interstate 40? You decide.   Resources: A Biblical Guide to Personal Finance

Remember the old saw "Never judge a book by it's cover"? This proverb cautions against making judgments based only upon outward appearances. Appearances can be a good indication, but basing a decision solely upon them can lead to serious consequences. In today's episode, find out how appearances did us in... or was it interstate 40? You decide.   Resources: A Biblical Guide to Personal Finance

Many Americans are living paycheck to paycheck, but times are not getting any easier financially, so it's time to break this cycle now because it will only get more painful to do it later. We know people who are living paycheck to paycheck whether they make a low income or hundreds of thousands every year. The size of your income doesn't always matter, but financial principles always do. Sometimes...

A lot of people are living alone and whether they realize it or not, living alone has a cost. This isn't just regarding whether you are married or single, some people are financially all alone. Banding together with a group of like-minded individuals can help you big time financially. Don't go alone! Listen to this episode of Wealth Talks.

Regardless of what the government or media might claim, for many Americans, life is getting worse. As government overreach continues to destroy the private market, things are becoming more expensive and even unavailable. I n this episode, find out what happened to insurance in California and discover a way you could save big with an alternative solution to health insurance.

We aren't against 401Ks or IRAs, we are against the idea that people need to trust an expert to manage their money. A lot of people go with a 401K or IRA because some expert told them to, or because everyone else is doing it. But it's  your money, you are the most qualified person to manage it, and ultimately you are responsible for any gains or losses. So don't just trust an expert or go with the...

Bad economies rear their ugly head fairly regularly, and while they cause damage to almost everyone, the hardest hit are those who haven't prepared, or don't know how to prepare for hard times. When the economy is booming, it's easy to think you have everything figured out financially, but during a downturn you better have your ducks in a row, or it could take you under.

Listening to the wrong people can mess you up financially. You are in control of your own finances, and while people may offer advice on how to handle them, it's up to you to determine whether their advice is good or bad. After all, you're the one who must live with the results. Today on Wealth Talks, you'll discover a way some people can save on taxes. Will this way work for you? Maybe, maybe not...