Not Your Average Financial Podcast™

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Think different about your money, your economy and your future. Be curious. Be stable. Be sane.

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Top 10 Not Your Average Financial Podcast™ Episodes

Goodpods has curated a list of the 10 best Not Your Average Financial Podcast™ episodes, ranked by the number of listens and likes each episode have garnered from our listeners. If you are listening to Not Your Average Financial Podcast™ for the first time, there's no better place to start than with one of these standout episodes. If you are a fan of the show, vote for your favorite Not Your Average Financial Podcast™ episode by adding your comments to the episode page.

Episode 115: When Should I Take My Social Security? with Brian Minier

Not Your Average Financial Podcast™

11/15/19 • 38 min

**CORRECTION – in the episode we state that 85% of your benefit is taxed. To clarify, 85% of your Social Security can be exposed to taxation at whatever your tax rate is.
For example if your Social Security monthly benefit is $1000/mo, $850/mo of that would be exposed to your tax rate, (which might be 20% for example.)**

In this episode, we ask:

Do you have a 401(k)? Do you have an IRA? Do you have a Bank on Yourself type whole life insurance policy?
Who is Brian Minier?
What is customized Social Security planning?
Are you walking away from benefits?
Are you allowing your credits to accrue?
Are you eligible to take a spousal benefit?
Is Social Security secure?
What is the reality of the Social Security benefit system?
Have you read the Social Security statements?
What is the history of Social Security?
What was the life expectancy when Social Security started?
At what age did the Social Security pay?
What are the issues?
What is happening with the baby boomers?
What is the decline in worker to beneficiary ratio?
How many people are taking the benefits?
What can politicians do?
How long can you delay benefit?
What are reduced cost living adjustments?
What makes Social Security complex?
What are the 561 different calculations to consider?
Should you always take Social Security early?
Should you wait until age 70 to take benefits?
What are the factors to consider?
Are you married?
Are you receiving a pension?
What should the benefit be?
When should I take the benefit?
How do you qualify for Social Security?
How long do you need to work to collect Social Security?
How do you receive a spousal benefit?
How do you know if Social Security has calculated your statement accurately?
How do you know what you’re going to receive in benefits?
Where can you go to view your current benefits?
Can you view your future benefits, even if you’re young?
Have you visited ssa.gov?
Why is maximizing Social Security so important?
Why is looking at the big picture of a couple so important?
What factors influence the timing?
Have you been diagnosed with a terminal illness?
Are you married and did your spouse work?
Are you married and you have a child who is less than 18 years of age?
What is the most thing that most people never consider?
What about survivorship?
Who usually dies first?
How to plan for a surviving spouse?
What’s the best way to put Social Security to use?
How is Social Security taxed?
What is provisional income?
What types of income are not listed as provisional income?
What are some of the things you can do?
Can converting to a Roth IRA help?
How might using a life insurance vehicle help?
What are the taxes due on Social Security?
How might you lower your provisional income?
What happens if you make more than $44,000 joint income annually?
How much will the government tax your Social Security benefit?
What nuances would affect your benefit amount?
Why is distribution planning important?
Why should Social Security and retirement planning be a combined effort?
Do you know someone who understands the benefits of Social Security?
Where might you learn more?
Do you have a question on Social Security?
Are you age 62 or older?
Would you like to see what’s possible in your situation?

Brian Minier is a Certified Financial Fiduciary® with over 10 years of experience in the insurance and financial service industry. He has an MBA from Malone University and a Bachelor of Science in Marketing from the University of Akron. Brian is a Certified Bank on Yourself Advisor and assists his clients with many areas of retirement planning and investments.

He specializes in helping seniors plan for retirement and develop smart Social Security strategies, and also provides financial advice and guidance to help individuals weather both good and bad financial markets.

Brian’s particular expertise lies in customized Social Security planning, designing personalized retirement plans to help his clients achieve their individual retirement goals, and income and distribution planning – an area which Brian feels is too often neglected by most traditional advisors.

Brian lives in New Albany with his wife and two children, and is active in his church and community. In his spare time, he enjoys spending time with his family, participating in missions work, and working out.

...

Episode 62: #FIRE Extinguishers with Brandon and Amanda Neely

Not Your Average Financial Podcast™

11/09/18 • 29 min

In this episode, we ask:

Who are Brandon and Amanda Neely?
Grandma’s Wealth Wisdom Podcast
What is the F.I.R.E. strategy?
What does F.I.R.E. stand for?
How does one know they’re F.I.R.E.d?
How do you calculate your freedom number?
What are the pros of people going for this strategy?
What are the downsides of F.I.R.E. ?
What things do the F.I.R.E. people take off the table?
If someone was trying to retire early, how does one avoid the pitfalls?
What are the F.I.R.E. extinguishers?
- Have you considered Tax Deferred Plan penalties?
- Have you considered the Stock Market risks?
- Have you considered the possibility of tax increases?
- Have you considered the possibility of rising inflation?
- Have you considered the fees?
- Have you considered future medical expenses?
- Have you considered Long Term Care expenses?
- Have you considered unexpected large expenses?
- Have you considered opportunity cost?
What are the perfect matches – the F.I.R.E. starters?
- Bank on Yourself type life insurance policies
- Access the money without penalty
- Uninterrupted compound growth
- No double tax payments
- Hedge against inflation
- Pay fees up front
- Coverage for Long Term Care
- Can make large purchases
- Have growth continuing while you use the money for expenditures
What are other options?
Why is access without penalty crucial?
What did Brandon and Amanda do with their dividend paying whole life insurance policy?
How did this put them in a really good position?
What would Grandma say about this concept?
Did a single Grandma own a 401(k)?
What does retirement look like?
Contact Brandon and Amanda and subscribe to the Grandma’s Wealth Wisdom podcast at GrandmasWealthWisdom.com

Amanda and Brandon Neely are small business and financial professionals. They founded and ran Overflow Coffee Bar, L3C from 2008 through 2018. Now, they share their experiential knowledge through podcasting and through developing personalized financial strategies for individuals and couples. Their goal is to help people build wealth – the sort of wealth that would make their Grandma proud. Subscribe to hear more at Grandma’s Wealth Wisdom podcast or wherever great podcasts are found.

Episode 35: Structuring Insurance: It’s All About How You Think

Not Your Average Financial Podcast™

05/04/18 • 27 min

In this episode, we ask:

What are the biases with insurance?
What misunderstandings exist?
What’s the truth?
Why does anyone have a bias against anything?
Where do we hear information?
Is this information in line with reality?
What about my family member’s experience?
How many mutual funds are out there?
Why do people have completely different experiences with the same vehicle?
How can life insurance help you while you’re alive?
How is a whole life insurance policy more than just a death benefit?
Why is old fashioned whole life a terrible place to save money?
Is a model T car a terrible way to drive across the country?
Is an airplane an effective way to get to the grocery store?
Is this an investment?
Should insurance compete with a mutual fund?
How will you feel when the market crashes to the depths of the ocean?
When do you want your money growing the fastest?
When do you want your money in a competitive position?
Why is whole life insurance so expensive?
Why is term life insurance so cheap?
Is term really cheaper?
What’s a better deal?
When would you want to buy term?
Why is term insurance designed to become too expensive?
Have you seen your term premium quadruple yet?
What do you have to show for a dropped term policy?
Do you want to buy term?
How are the benefits in whole life stronger than term?
What guarantees do you have with whole life insurance?
What guarantees do you have with term life insurance?
How many term policies actually ever pay a claim?
What’s the difference between buying a house and renting?
Which one will provide the greatest value to you and your value?
How is this unlike most whole life insurance that most people have heard about?
How much of a pay cut do advisors take?
How quickly can you use the cash value?
What are the benefits?
Would you like tax free access to cash?
Would you like guaranteed growth every year?
Would you like the ability to leave your family more than you could ever save?
Do you need to finance a big purchase?
Why aren’t insurance companies letting everyone know about this?
Why are there entire cable channels dedicated to Wall Street?
Why aren’t we hearing a whole lot about this?
Where did the term buy term and invest the difference come from?
How are high net worth clients and leaders allocating their assets?
What’s too good to be true?
Is whole life premium payments only for the affluent?
What if someone can’t afford the premium?
What about getting “locked” into a premium payment?
What happens if I miss a premium payment on a whole life insurance policy?
What flexibility exists?
Who decides how much goes into premium?
What happens if I lose my income temporarily?
Is life insurance a safe place to put money?
Is a life insurance policy safer than the banks?
Are life insurance companies FDIC insured?
What is FDIC insurance?
What safeguards are on the insurance companies?
What third parties are involved?
What happens if a life insurance company goes down?
What about AIG in 2008?
What happened to the life insurance subsidiary of AIG?
Does the FDIC have enough money to cover all of the nation’s banks?
What percentage of our money is backed up by FDIC?
In 2008, how much did the FDIC ask for in bailout money?
Who pays for the bailout?
If the FDIC raises limits to 1 million, what happens?
Are banks legally required to keep safe assets?
How much life insurance do the banks have to purchase themselves?
What is BOLI?
What did Nelson Nash say?
What happens when you change the way you see things?

Episode 7: The Bank On Yourself® Revolution and Pamela Yellen (Part 1)

Not Your Average Financial Podcast™

10/20/17 • 28 min

In this episode, we interview Pamela Yellen, the author of the Bank On Yourself^® Revolution.

What is the Bank On Yourself^® method? What does it allow?
What are most people “banking” on?
How can you become your own source of financing?
What did Pamela learn from the most elite, top three financial planners and money managers?
What does Pamela suggest for current or soon-to-be retirees?
What happened in 2008 that prompted Pamela to write the Bank on Yourself book?
How do you prepare for economic cycles?
What does Pamela say about the stock market?
How many years worth of an emergency fund does Pamela recommend?
What is the latest status of Pamela’s $100K challenge?

Financial security expert and best-selling author Pamela Yellen investigated more than 450 savings and retirement planning strategies seeking an alternative to the risk and volatility of stocks and other investments. Her research led her to a time-tested, predictable method of growing and protecting wealth she calls Bank On Yourself (www.bankonyourself.com) that is now used by more than half a million people.

Pamela is the author of the New York Times bestselling books BANK ON YOURSELF: The Life-Changing Secret to Growing and Protecting Your Financial Future and THE BANK ON YOURSELF REVOLUTION: Fire Your Banker, Bypass Wall Street, and Take Control of Your Own Financial Future.

Pamela has appeared on every major TV and radio network and served as a source for organizations and publications such as the Associated Press, Fox News, Bloomberg Businessweek, Ladies’ Home Journal, Essence Magazine, Aging Today and AARP. Her articles have been featured in thousands of major publications and websites, and she has spoken to more than 1,000 audiences world-wide.

Pamela was born in Buffalo, New York, and has lived in Sarasota, Phoenix, and the San Francisco Bay area. She graduated from the University of San Francisco with a degree in psychology. Pamela and her husband Larry currently live outside of Santa Fe, New Mexico, They enjoy theatre and the arts, hiking, biking, bird watching, traveling, gourmet cooking, working out (Pamela can leg press 200 pounds!), reading, spoiling their two grandkids, and are involved in supporting numerous charitable causes.

Ten percent of all author royalties are donated to educational not-for-profits, such as The Smile Train, The Nature Conservancy, Susan G. Komen for the Cure, Wounded Warrior Project, Heifer International, and Hawk Watch.

Buy the book on Amazon

Episode 283: Fire Your Real Estate Banker (Part 1)

Not Your Average Financial Podcast™

02/03/23 • 23 min

In this episode, we ask:

Would you like to subscribe?
Is there a better time to be a real estate investor?
Would you like some game-changing strategies?
What about mortgage rates?
What about inflation?
What is the overall state of the market?
How far will the money last?
What is the monthly cost for long term care?
What did the study from Urban Institute say?
Who is able to retire?
Will you have the choice?
How might constraints drive innovation?
Where might your money go?
What is the small hinge that will swing the big door in your financial life?
Where will your money live?
What about risk, tax, fees and penalties?
What do you want your money to do for you?
Do these products solve your problems?
Do these products feed the problems?
What is guaranteed?
What did Einstein say?
What are the attributes of your money?
Is it taxable?
Is it guaranteed?
Can you leverage it?
Is it at risk?
Do you have control over where your money lives?
What are your answers to these questions?
- Can you lose money due to elements outside of your control?
- Are guarantees on your money offered or received?
- Is the principal safe and protected?
- Are there any penalties to access your cash?
- Can you get access to the money without red tape or delays, if you need it?
- Can you leverage your money to create the most amount of wealth for the least amount of money?
- Does your money grow tax deferred, or is it going to be taxed in the future? Is it going to be tax free in the future?
- Is your money protected from lawsuits and creditors and other predators?
- Can your money be used as collateral?
- Does your money transfer income tax free to your heirs?
Is your money doing things counter to your desires?
Where will your money live?
What are you going to do about it?
What about a story?
What did Mark learn?
What about Bank on Yourself® type whole life insurance policies?
Is it time to find a better way?
How does this fit with real estate?
Why should we bother?
What about tax advantages?
- How is this similar or different from a Roth IRA?
What about guarantees?
- How is this time tested?
- How are the guarantees a great buffer?
What about insurance?
- Does whole life insurance expire?
What about freedom?
- What about liquidity?
- What about access? What about loan provisions?
How can you get true, uninterrupted compound growth?
What does any of this mean to you and your real estate business?
What happens when you combine real estate and Bank on Yourself®?
See you next week!

Episode 357: Mastering Your Financial Future – Strategies for Wealth Building with Grant Thompson

Not Your Average Financial Podcast™

07/05/24 • -1 min

In this episode, we ask:

What if...?
What if you could be the master of your financial domain?
Who is Grant Thompson?
Would you like to hear Episode 208?
When was Grant’s “aha” moment?
What really works with money?
What is the right thing?
What is the truth?
What should we be doing?
What do you want?
How about a story?
What will be your exit plan?
What did Nelson Nash say?
Is it true or false?
Can they prove it?
What about shame?
What about social media?
What was Nelson like?
Would you like to hear Episode 95?
Would you like to hear Episode 96?
What about the Austrian economists?
What about teaching the process of the banking function?
Have you read the Creature from Jekyll Island book?
What about getting to 10%?
What economic system works?
What systems don’t work?
What do you have to wait for?
Who can opt out of the banking system?
What would change?
How would credit card companies be impacted?
How would marriages be impacted?
How would student loan companies be impacted?
What about creating your own private financial system?
What about tax efficiency?
What about safety?
What about growth?
What are the other benefits?
What about taking care of your family?
What about taking care of charities?
What about the rate of return?
What is the amount of money going out the door?
Who is making a ton of money?
What are the four places money can go?
How much income is going to debt?
Can you cut your spending by 10%?
How much money are you hanging on to?
Who has the most money?
What about control?
What will stabilize everything?
What about passive income?
How do you want it?
What are we missing?
What about rethinking thinking?
What about Ted Benna, the father of the 401(k)?
What about key executives?
What about employee benefit plans?
Who else is doing this?
What is the truth? What is real?
How about success?
Are people happier with guaranteed lifetime income?
Who are you listening to?
What is the best thing to do?
What about greed and fear?
Who are the right people to help you do it right?
What about taking some time to investigate it?
What did Thomas Edison say?
What about truth being dressed in overalls and looking like work?
Is it easier to believe the lie?
Would you like to visit thompsonthurman.com?
Would you like to call Thompson & Thurman at 806-352-3480?
What are the takeaways and action items?

Grant Thompson works with families and their businesses nationwide. The Thompson & Thurman Agency works with families who share in their vision and want to become financially set for life without taking unnecessary risks. With so much misinformation in our financial world today, families really need guidance and direction to find the true path to financial freedom. Grant, Chris and their team of trusted advisers nationwide have are leading the way to meet that challenge. Grant is married to his wife Kathy and they have 2 sons Blair and Blane along with his wife Brittany. Grant enjoys spending his spare time with his family at reining and cow horse competitions plus trying to squeeze in a shooting competition every now and then with his sons. thompsonthurman.com

Episode 311: The Troublesome Cost Time-bomb of Universal Life Insurance with Lester Himel

Not Your Average Financial Podcast™

08/18/23 • 36 min

In this episode, we ask:

Would you like to join us for the FREE! Not Your Average Financial Summit on the afternoons of September 6 and 7, 2023? Register here!
Would you like to travel back in time with us?
Do you remember the TULIP bubble?
What about FOMO (fear of missing out)?
What about herd behavior?
What about the psychological tricks?
What is anchoring?
What about information bias?
What about filtering out what we don’t want to hear?
What about selective listening?
Who is Les Himel?
What about universal life insurance?
Would you like to hear Episode 52, Episode 53, Episode 264 and Episode 265?
What about a little arithmetic?
Where is the 5% average rate of return?
The return was 10%... well, was it?
What does one need to pivot on?
...50% of what?
What is volatility?
Would you like to learn more from Les at 82financial.com?
What about universal life insurance?
What about the index?
Why does Les not want to sell universal life insurance (UL)?
What happened in 1978?
What was the original product design?
What becomes more expensive?
Is term insurance actually cheap?
What is the true cost?
What is the crediting rate?
What about the cost of insurance?
What happens then?
What does the insurance company reserve the right to do?
Who has received a dreaded UL letter?
What about an analogy?
How is universal life insurance DIFFERENT from whole life insurance?
What’s the likelihood of dying at age 85?
Will you lose money?
Is it possible to execute a 1035 exchange with UL to whole life?
What is the lapse rate of UL?
What does it mean?
Can you pay UL for a limited number of years?
Are you on the hook to pay premiums for life in a UL?
What type of life insurance is front loaded?
What type of life insurance is back loaded?
Who has been mislead?
What about the recent regulations?
What are the key takeaways?
Is all that glitters gold?
Would you get in that airplane?
Is this another tulip bulb mania?
What is the source?
What obligation do they have to you?
What is their credibility?
Are you being influenced by emotions or bias?
Are you seeking objective feedback?

Join us this year, as we explore
the roots behind what we’re inheriting
and how we can navigate in the future.

Who: You! + Amazing Speakers, Authors and Industry Leaders
What: The 3rd Annual Not Your Average Financial Summit
When: September 6-7, 2023; 1PM to 4:30PM CT both days
(Please adjust for your timezone.)
Where: Virtual
How:REGISTER HERE!

Lester N. Himel discovered the use of specific types of Life Insurance to enhance and expand the performance of investment portfolios several years ago; this after spending 28 years in a variety of positions on Wall Street. Like most financial professionals, he considered stocks, bonds and similar instruments as the core of a reasonable investment approach. In those last several years, Les has found the better way. Les comes to this field with a very broad financial background. He started as a compliance officer, worked in administration, was an institutional bond trader, developed an Emerging Markets business, and was also involved with “alternative investments”. Les prefers low risk and “guarantees”, and has an ability to simplify explanations of what, why and how. Contact Les at heiratlas.com.

Episode 147: To Win The Lottery, You Have to Buy a Ticket with Ros Kaspi

Not Your Average Financial Podcast™

06/26/20 • 31 min

In this episode, we ask:

Who is Ros Kaspi?
What’s her story and background?
What were people telling Ros?
What caused Ros to change tracks?
Where did Ros find her opportunity?
What caused Ros to go out as an entrepreneur?
What about yoga?
What about a retreat?
What about a bed and breakfast?
What did Ros learn about opening a business?
Who was on her team?
What happened to her father?
What did Ros do in Chicago, and what did she learn?
What about happiness?
What about credit cards?
How is Israel different from the U.S., regarding credit cards?
What about Bank on Yourself type whole life insurance policies?
What about property?
What about real estate?
What’s an amazing way to buy property?
What was it like learning about the Bank on Yourself strategy?
What about the portfolio of policies?
How have the current events impacted her tenants?
Has the coronavirus impacted her income?
How has her perspective changed around money?
How is an employee mindset different from an entrepreneurial mindset?
How might your money work for you?
What does Ros love about Mark?
What about talking through ideas?
What about getting good feedback?
Do you have a personal financial advisor who is always there for you?
Is your financial advisor available?
What would Ros say to someone who is concerned about being too old?
How did Ros purchase a policy?
How did Ros purchase a cash property?
What are the things that intrigued Ros?
What other nuggets of wisdom does Ros have to share?
What other feedback does Ros have?
What about a “win the lottery” joke?
Do you move your feet?
How much do you want to make?
What direction do you want to go?
What about Bob Proctor, Jack Canfield and the mastermind group?
Isn’t that amazing?
How might we overcome obstacles?
If you could not leave money to your children or to the world, but only principles, habits and ideas to achieve success, what would those be?
Would you like to reach out to Ros? Email her at [email protected]!
Have you been sucked into financially difficulty?
What’s the next first step?
Are you the boss of your money?
Is your money ‘your employee’?
What does Ros want to add about the tax benefits?
What about the mastermind?
What’s the difference between success and failure?
What’s the difference between being alone and being together?

A world traveler, Ros Kaspi was born in Chicago, lived in Tel Aviv for many years, and in 2004 came back to Chicago to take care of her mother who just reached 99.

A business woman, an entrepreneur and Manager of a global company, she has experience and expertise. She studied Life Coaching with Bob Proctor and used his teachings to create Mastermind groups.

In recent years she has turned to real estate, purchasing condos, while using Bank on Yourself type whole life insurance policies to reach her real estate goals. Would you like to reach out to Ros? Email her at [email protected].

Episode 345: Direct vs. Non-Direct Policy Loans, The Debate and The Truth

Not Your Average Financial Podcast™

04/12/24 • 39 min

In this episode, we ask:

What is a policy loan?
Why do we love the Bank on Yourself® type whole life insurance policies?
Is a non-direct recognition policy loan the best feature in the financial universe?
What is a direct recognition policy loan?
Is there really no difference between the two?
Does it really matter?
Why is transparency key?
What is the history between non-direct recognition and direct recognition policy loans?
How long have life insurance policies loans been around?
Over 150 years ago, how did insurers treat these separate loans with distinct interest rates?
What about collateral?
What about the life insurance general fund?
What about using your policy as collateral?
What about dividends?
How would the policy continue to earn interest?
Where is the money for the loan coming from exactly?
Why did some insurance companies move over to do direct recognition policy loans?
Why did some insurance companies hold firm with non-direct recognition policy loans?
What is a mutual life insurance company?
What about profits?
Who should logically have a higher dividend?
Who is penalized?
Do companies offering direct recognition policy loans offer slightly higher dividends?
Who is going to have a better experience?
What good is that cash value if you can’t collateralize it?
What about the living benefits of life insurance?
What is outrageous?
What did Nelson Nash say?
Who has real liquidity?
What about direct recognition policy loans for a time horizon (for 10 years, etc.)?
How about an example?
What is a 1035 exchange (a like-kind exchange for life insurance)
Would you like to learn more in Episode 252?
What happens in a scenario where direct recognition policy loans were taken?
What happens in a scenario where non-direct recognition policy loans (as in a Bank on Yourself type whole life insurance policy) were taken?
What about the dollar diagram?
What about the one dollar?
What happens if you put this single dollar into a paid up additions rider (PUAR)?
What about opportunity cost?
What happens if you spend that dollar instead of saving it?
What is the interest?
What benefits you?
What about dividends?
How do the insurers earn money for dividends?
How does that benefit policy holders?
How much would you have?
How many dollars...?
Is there such a thing as paying too much premium?
How about another example about a policy loan to purchase a car?
What did the three cars cost you?
How much did you net in the non-direct recognition policy loan’s policy?
Knowing all of this, why would you buy a car any other way?
Should you just get a bank loan?
What totally defeats the purpose of Bank on Yourself®?
Are you being penalized?
Which scenario keeps me more in control of my own money?
Which scenario yields control to the bank?
What about Bank on Yourself® policy engineering?
Would you like to meet with Mark?
Would you join us next week?

The topics and images presented in this podcast are general information only and not for the purposes of providing legal, accounting or investment advice. On such matters, please consult a professional who knows your specific situation.

Episode 146: Three Ways the CARES Act Will Impact Your Retirement

Not Your Average Financial Podcast™

06/19/20 • 29 min

In this episode, we ask:

Has your family or your business been impacted by the current events?
What is happening with the unemployment numbers?
What are many Americans concerned about?
What are the statistics?
What is the CARES Act?
What is new with CARES Act that was passed this spring?
Is this tax advice?
Are you speaking with a tax professional?
What are the disclaimers?
Who has the correct information?
What does the CARES Act have to do with your retirement?
What does this crisis make possible?
What about the penalties and taxes?
What about the qualifications?
What is Mark’s opinion?
What are some potentially good uses of these opportunities?
What does this crisis make possible?
Is this the tax deal of a lifetime?
What is a 401(k)?
What is an IRA?
What are the rules?
What about distributions?
What about penalties?
What about the tax?
What are the qualifiers?
What happened to 401(k) loan rules?
Do you have to pay a 401(k) loan back?
What are the required payments?
What are the gotchas?
How does this become a full distribution?
What is Mark’s beef with 401(k) loans?
How are you going to repay that 401(k) loan?
Will it be pretax or after tax money?
Will it come out of cash flow?
What about the taxes?
What about 401(k) or IRA distributions?
What did Congress do with the early withdrawal penalty?
What about the taxes?
Is this the tax sale of a lifetime?
What about the penalty?
Has this ever been offered before?
What about the interest?
What about a Roth conversion?
What about the taxes?
What about the withdrawal penalty?
Do you want to pay tax now or later?
What about traditional IRAs?
Is your tax bracket the same as it was last year?
Do you know what your tax bracket will be this year?
Do you believe the market will rebound?
Do you need a hand?
What about fixed indexed annuities inside of a Roth IRA?
Would you like to hear more about income maximization?
How are you going to take advantage of this new opportunity?
What are your priorities?
What do you prefer?
What is different under the new rules?
Would you like to think through your situation with us?
Would you like to answer the question of the month?
- How would you handle a financial crisis differently next time than you’re handling it this time?” Let us know before June 30, 2020! Leave Us A Message on SpeakPipe

CARES Act 2020 FAQ

Coronavirus relief: We answer your questions via experts in the field about how the CARES Act, the legislation signed into law by President Trump in March, 2020, affects retirement withdrawals and IRAs.

Does my employer offer these provisions?

The provisions are not automatic.

The CARES Act loan and distribution provisions require employers to adopt those rules, according to Nelson.

So you need to ask whether your employer offers these provisions in your 401(k) plan.

About 75% to 85% existing 401(k) workplace plans currently offer some type of hardship or loan provision, Nelson says.

Depending on your needs, you still have options even if your employer doesn’t include the new provisions. Prior rules allow Americans to take out a 401(k) loan of up to 50% of their vested account balance, or a maximum of $50,000.

Who qualifies?

To qualify for the retirement distributions or loan provisions, you must have suffered a financial hardship from the pandemic. That includes being diagnosed with Covid-19; subject to quarantine; a business closure or reduce your hours; inability to work due to child-care issues; or if you’re not self employed and were laid off or had hours reduced.

To qualify for the provisions, individuals need to fall into one of two main categories.

You, your spouse or a dependent is diagnosed with Covid-19, the disease caused by the new coronavirus.
Alternatively, you qualify if you have experienced adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care or closures related to the coronavirus pandemic.

You, your spouse, or dependent has been diagnosed with the coronavirus (i.e., SARS-CoV-2 or COVID-19),

You have experienced adverse financial consequences because you have been quarantined, furloughed, laid off, or have had wo...

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FAQ

How many episodes does Not Your Average Financial Podcast™ have?

Not Your Average Financial Podcast™ currently has 406 episodes available.

What topics does Not Your Average Financial Podcast™ cover?

The podcast is about Society & Culture, Podcasts and Business.

What is the most popular episode on Not Your Average Financial Podcast™?

The episode title 'Episode 154: Invest Local! Private Money Lending with David C. Barnett' is the most popular.

What is the average episode length on Not Your Average Financial Podcast™?

The average episode length on Not Your Average Financial Podcast™ is 31 minutes.

How often are episodes of Not Your Average Financial Podcast™ released?

Episodes of Not Your Average Financial Podcast™ are typically released every 7 days.

When was the first episode of Not Your Average Financial Podcast™?

The first episode of Not Your Average Financial Podcast™ was released on Sep 22, 2017.

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Not Your Average Financial Podcast™