Wealth Talks

It isn’t often one spends $50,000 in a single day without previously intending to, but sometimes it happens. Todays on Wealth Talks you’ll hear the story and find out what “happened”.   Resources: Building a Secure Financial Foundation:https://www.life-benefits.com/videos/how-to-build-a-secure-financial-foundation/ @brothersfabshop - Instagram

The new year is almost here. Starting January 1st we often see more people outside, walking, jogging or running working on their “resolutions”. This usually lasts for a couple of weeks after which the people, as well as their resolutions perhaps, fade into obscurity. Are these resolutions not merely confessions? On today’s episode with special guest Ben McFie, you will learn how to make New Year’s goals which will last long after the first two weeks of January. Listen Now   Resources: Goal Setting with Tom Ziglar: https://s3-us-west-2.amazonaws.com/lifebenefits/Audio/Teleconferences/2017/Tom+Ziglar+Jan+2017.mp3

As excited as everyone seems around Christmas, a lot of people report experiencing “post-holiday blues”. Interestingly, over 40% of Americans go into debt to buy Christmas gifts. Might this new debt contribute to their post-holiday blues? We thought s

If you’ve been “around” in the insurance world, you’ve probably heard about a term rider. It is quite common to see an insurance policy with a term rider attached, but this doesn’t mean it’s a good idea. In fact, many times, putting a term rider on a policy makes no sense at all. Today on Wealth Talks, Tom and John discuss term riders and why they don’t often like them.   Resources: Policy Class: https://www.life-benefits.com/store-detail#policy-class Prescription for Wealth: https://www.life-benefits.com/prescription-for-wealth-book/

Taxes have been around for a very long time indeed. If we look at the history of taxes in the United States, we notice a curious phenomenon... taxes rarely decrease over time. For some reason, taxes tend to go up! Guess what? They could be going up again! As cheerful as this may be to DC’ers, a few of us American citizens find this upsetting. So, what should we do to ensure we don’t pay more in taxes than we must? Listen now on Wealth Talks.   Resources: How to Build Sustainable Wealth: https://www.life-benefits.com/store/

With college tuition increasing and student loans becoming a real problem, the question presents itself: Is college still worth it? Many college students graduate and work jobs completely unrelated to their degree. But at least they are thousands of dollars in debt. That always makes the future seem bright! Today on Wealth Talks, Tom and John take a hard look at college education. Is it necessary? Is it useful? Is it dangerous? Listen now on Wealth Talks.

There is a new rule pending approval which could dramatically change 401(k)s. If the ruling is approved, 401k plan managers, while choosing investments, will have to consider the ESG criteria (Environmental, Social and Governance factors) of investments for the plan. Generally speaking, fees on ESG funds are higher and there is some research which shows the ESG market may have already peaked.   Despite privately held beliefs on whether investments based on ESG criteria are generally better/worse than other investments, these factors, combined or individually, could hurt 401k balances.   Today on Wealth Talks, Tom and John discuss this problem and some ideas for working against a disintegrating status quo.   Resources: How to Build Sustainable Wealth: https://www.life-benefits.com/store/

Ever heard that? It seems to be a prevailing theme nowadays. Look to the experts. Don’t ask questions. Do what you’re told. Looking to the experts is fine but relying solely on them can be catastrophic. We have to exercise discretion and make our own decisions. Today on Wealth Talks, Tom and John discuss some of the core thought processes we need to have to be financially savvy.

We live in a world of lies. This isn’t anything new or unique to this time in history. We’ve been living in a world of lies for a long time. So, who should we trust? The government? Yeah, not us either. On today’s episode, Tom and John share what we need to know to survive in our “world of lies”. Resources: Relative Truth is No Truth - Podcast Understanding Different World Views - Interview with Krish Dhanam

Taxing the rich is a topic many elected officials harp on with a religious zeal. Despite their moral high tone, taxes on the rich seem to do more damage to the middle and lower classes. The income tax, supposedly to penalize rich tycoons, ended up being paid mostly by people other than the rich. Whoops! Guess it’s time for a new tax. Any suggestions for a name? On today’s episode, Tom and John discuss how we can avoid getting squelched by taxes and inflation... it’s one of the few weapons we have left. Resources The Creature from Jekyll Island

Warning signs are supposed to offer us some degree of protection from the described danger. Yet a recent study shows they many have the opposite effect. Trivial warnings abound everywhere... especially in California where even a cup of coffee has been found to cause cancer. Of course, just because there is a “warning” doesn’t mean it’s really dangerous. The same holds true in the finance industry. Just because something is “qualified” or “preferred” doesn’t mean it’s the best place to invest your money. To grow your wealth, you must know how to assess the real danger, not just read the warnings. Listen now on Wealth Talks. Resources Prescription For Wealth: https://www.life-benefits.com/store/

Taking a loan from a policy is easy, but there are questions that can arise. Will taking a loan decrease my death benefit? Why does the insurance company charge interest?  When should I pay off my policy loan? This week, Tom and John answer all these questions and many more. Listen Now on Wealth Talks. Resources How to Build Sustainable Wealth: https://www.life-benefits.com/store/

Lots of people seem to be gung-ho on investing in the market. Whether they’re trying to make a lot or make a little, build their dream home or supplement social security. Sometimes these folks only know enough to be dangerous. This episode is a chilling reminder as to how rough and unpredictable a road the market can be in reality. And talking of social security. What’s might happen to this program? Tom and John share thoughts about this and discuss wealth killers such as fees, interest and taxes. Listen Now. Resources How to Build Sustainable Wealth: https://www.life-benefits.com/store/ Note: Investing information provided in this podcast is for educational purposes only. Life Benefits, LLC does not offer advisory or brokerage services, and does not recommend or advise investors to buy or sell particular securities.  

America has been the face of benevolence for years. Has this benevolence contributed to the deterioration of America today? It is good to be compassionate and sharing, but we need to make sure we are not giving away what we need to take care of our own responsibilities. Listen in as Tom and John address the problem of benevolence and possible side-effects in your personal finances as well as at a cultural level. Resources Link to Seminar recording: https://www.life-benefits.com/store-detail/#sw-seminar Link to Policy Class: https://www.life-benefits.com/store-detail/#policy-class  

September 17-18th marked our first LIVE event since early 2020. It was wonderful! Seeing people in person, face to face, is something no Zoom conference can replace. Today on Wealth Talks, Tom and John are joined by Michele. Together, they give you a brief synopsis of the event. Resources: https://www.life-benefits.com/store-detail/#sw-seminar

Taxes are unpleasant, yet it is important to plan for them if one wants to pay as little as possible. Sadly, many people are planning in a way that will cost them in the long run. Today, Tom and John are joined by special guest Martha Baker-Starr, a Certified Tax Coach™. Together, they talk about the importance of planning for taxes over the long term. Listen now on WealthTalks. Contact: Martha@ProsperousStrategies.com  or call 803-256-1083 ext 104

We put fences around our homes and locks on our doors to protect our physical property. But do we do anything to protect our intellectual property? Coca-Cola, MacDonald’s and Nike sure have, but what about us? Intellectual property is extremely important and should be properly protected, but it’s tough to know how to do so. Should you file for a Copyright? Trademark? Patent? Even if you know which form of protection is right for you, filing with the US Government can be a real pain. Today on Wealth Talks, Tom and John are joined by Attorney Mark Wright. Mr. Wright has an extensive history of protecting intellectual property across the private, corporate, and government sectors; from small businesses to Fortune 500 companies. Listen now to hear His insight on intellectual protection.   Resources: Attorney Mark Wright contact: info@wrightlawgroup.com

Average returns don’t mean actual returns. On the surface this doesn’t sound like it would be a huge issue. But it is.    In addition, the benefit of a 401(k) tax deferral used to be estimated about 9%, but not anymore. And fees continue taking a steady told each year which erodes your compounding base.    These factors, as well as liquidity issues and insufficient accumulation of funds in most plans are prompting people to save in other vehicles even if they continue to use a 401(k). 

Many of those who speak about the evils of making money are the ones who aren’t making any. Today on WealthTalks, Tom and John talk about why Earning money, as well as Keeping and Giving money, are so important to building and sustaining a strong society. Make sure your children learn about the flow of money and value in meaningful ways as they grow up, so they can become more productive and creative as adults.