Real Money Talks

On this episode, Loral is joined by Glenn Morshower. This episode is part of a two-part series so be sure to go back and listen to part one of this series. You don’t want to miss it! Glenn starts by sharing how he got started teaching. He shares about the different types of mindsets and the power of yes.  Glenn and Loral also talk about the importance of listening to those internal whispers and how life’s inconveniences can often lead to the biggest transformations in life.    Show Notes: [01:55] Glenn and Loral are looking forward to getting back to speaking on a stage.  [02:29] Loral is hosting a big table event in September in Savannah, Georgia.  [05:35] We are in the business of human empowerment.  [06:02] Glenn shares about how he got started teaching. He started teaching a program called the Extra Mile 36 years ago after this prompting.  [07:01] Glenn shares about the different types of mindsets.  [08:54] The power of yes is everything. When you reside in yes consciousness, it is the elimination of anxiety.  [09:54] People who practice pronoya they are people who are a chronic optimist and they just know that no matter what it looks like it is still working on our behalf.  [11:15] A tenderized version of you is one that is leading with your heart and more open to fully feeling the moment and staying open to spontaneity.  [12:17] Whispers are common to all people. Whispers don’t only visit believers.  [13:58] Had you been willing to be inconvenienced it would have changed your life for the better. If we were to have followed our whisper for a week the entire trajectory of our life would have changed for the better.  [15:51] We need to answer the call to that internal whisper.  [16:38] The next time you get to a stop sign where normally you would turn right to go home.  If you are feeling peculiar for some unexplained reason, turn left or go straight.  Don’t assume that everything in life must be done habitually because there is a voice within you that is there for your protection. The more you listen to it, the more you will be protected.  [19:05] Almost every big move in life is inconvenient. You say yes and you figure it out.  [20:54] Look for win-wins in life. Do things that are at peoples’ expanse not their expense.  [22:47] Glenn shares a story about inconvenience in his life.  [23:25] Do unto others as you would have life do unto you.  [26:14] Truly anything can happen. It changes your life when you live in that bandwidth of life that anything can happen.  [27:24] Life is a cool gig. The vast majority of the problems that we inherit in our lives come as a direct result from a momentary lapse in the remembrance of exactly who it is we are.     Links and Resources: Ask Loral App: https://apple.co/3eIgGcX  Loral on Facebook: https://www.facebook.com/askloral/  Loral on YouTube: https://www.youtube.com/user/lorallive/videos  Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/  Money Rules: https://integratedwealthsystems.com/money-rules/  Millionaire Maker Store: https://millionairemakerstore.com/  Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/  Integrated Wealth Systems: https://integratedwealthsystems.com/  Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates 

On this episode, Loral is joined by Glenn Morshower. Glenn is extraordinary.  He has an acting school and he is probably one of the best businessmen I know.  This episode is part of a two-part series so be sure to check back for part two of this interview. Glenn and Loral talk about moving forward after COVID and masterful ways of handling what life throws at you.  Glenn shares his life theme for changing messes for the better starting with making his bed each day.  They wrap up their conversation by talking about moving forward and the importance of gratitude. Show Notes:[01:51] Glenn shares how he has been during COVID. His business has actually flourished during the pandemic virtually. [03:40] He never thought he would take his acting school online but it ended up being the blessing of a lifetime now he can work with actors from all over the world. [04:19] We have to use our entrepreneurial thinking, when things change, we have to change. [04:54] You can buy anything right now.  People need resourcefulness, experience, money, partnerships, and collaborations now more than ever. [06:05] In the money world, you have to do the right thing at the right time.  [07:22] If you just take a deep breath and realize my normal is really beautiful.  [09:54] We don’t need to provide a why. We don’t need to go into our whys because our whys are our business. [12:09] The ultimate skill set is to build within yourself a master handler of life so that whatever occurs you are processing it in the healthiest possible way it can be processed. [14:54] Sadly now when anything is slightly off people can’t wait to pounce. Is that really the lens you wish to look at life through?[15:57] Life does not need to be pre approved by you.  Life is not going to devote itself to meeting your unique needs. Don’t take things personally. [17:04] You can’t make a better decision in life than one that is through the template and lens of what outcome you want most. Are your actions congruent with the outcome you want?[19:40] Glenn’s theme is to change messes for the better. Making is bed has become a metaphor for his life. [20:17] So many times in life people look at problems and hope they will get better. Hope is only a great beginning.  From hope, we have to spring into action. We are not going to hope it into existence. [20:57] There is way too much wishing, wanting, and hoping in this world and not nearly enough proactivity and doing. [22:49] Your car coaches you every time you get in it where your focus needs to be. We look in the rearview mirror for remembrance and learning, but the application happens where we are or moving forward. [24:26] So many things are clear up for us as we move forward.  All we have to do is commit to that next step. [26:32] It is huge to know that when you are around things get better. [28:21] Gratitude is the single most important thing we have in this lifetime. Links and Resources:Ask Loral App: https://apple.co/3eIgGcX Loral on Facebook: https://www.facebook.com/askloral/ Loral on YouTube: https://www.youtube.com/user/lorallive/videos Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/ Money Rules: https://integratedwealthsystems.com/money-rules/ Millionaire Maker Store: https://millionairemakerstore.com/ Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/ Integrated Wealth Systems: https://integratedwealthsystems.com/ Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates

On this episode, Loral is joined by Michelle Seiler Tucker, a partner of Sharon Lechter’s on her Exit Rich Book. Michelle is the founder and CEO of Seiler Tucker Incorporated. She is a certified merger and acquisitions professional and certified senior business analyst.   Michelle and Loral talk about exit strategies.  For so many of you, it is all about entering the business and you are not thinking about exiting.  You need to start thinking about your potential exit strategies now. Exit strategies are just as important if not more important than starting a business.    Show Notes: [01:24] Michelle Seiler Tucker is the founder and CEO of Seiler Tucker Incorporated.  [02:38] In principle, anywhere in the world you can own a corporation and have the deductions.  [04:11] Businesses that are a one-woman or one-man show are very difficult to sell because the business is dependent on the owner.  [05:41] The number one reason businesses don’t sell is because business owners never think about selling and never plan an exit strategy until internal or external catastrophic events occur. Selling in a catastrophe is the worst thing you can do.  [06:31] You really need to sell when you are in your prime and try not to sell during a catastrophic event.  [07:10] Another mistake is that business owners are working in their business instead of on their business. You will never grow unless you let go of the control.  [07:32] You have to focus on your strengths, hire your weaknesses on your business, with the right people.  We are really trying to build a business to run without you.  [08:28] You don’t build a business. You build people and people build the business.  [09:45] You need to always innovate and market.  [11:42] A lot of business owners design their processes around their own agenda instead of designing the processes around the customer experience.  If we don’t create wow experiences for our clients somebody else will be happy to do it instead.  [12:59] Proprietary is the number one value driver. There are six pillars to proprietary.  [15:34] A big mistake business owners make with contracts is that they don’t include the transferable clause. We must be proactive and put that transferability clause in there.  [17:26] Lack of profit is never the problem, it is always the symptom of.  [18:54] Business owners don’t plan to fail, they fail to plan so they don’t have a destination. Business owners really need to think about their destination and next they need to know where they are starting from.  [20:51] You never want to put your eggs in one buyer’s basket. You have to have backup buyers.  There are five types of buyers.  [23:41] Exit Rich launches June 22nd, but you can get the digital download today. Exit Rich is a gold mine for entrepreneurs.  [27:06] You don’t have to do this alone. Your network equals your net worth.  Find a mentor.    Links and Resources: Ask Loral App: https://apple.co/3eIgGcX  Loral on Facebook: https://www.facebook.com/askloral/  Loral on YouTube: https://www.youtube.com/user/lorallive/videos  Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/  Money Rules: https://integratedwealthsystems.com/money-rules/  Millionaire Maker Store: https://millionairemakerstore.com/  Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/  Integrated Wealth Systems: https://integratedwealthsystems.com/  Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates  Michelle’s Website: https://seilertucker.com/ Exit Rich: https://askloral.com/exitrich

Download Bob and Loral's EBook Offers: https://askloral.com/book-special/  This episode is part two of a two-part series with my long time mentor, Bob Proctor.  I am privileged to bring Bob on this episode of the podcast.  If you haven’t listened to part one in this series be sure to go back and listen to the first part of our amazing and life changing conversation. It is astonishing what is coming up in part two.   In this episode, Bob shares about the importance of thinking about the possibilities instead of our limitations.  He also shares about helping children learn about their potential at an early age.  Bob also shares how visualizing where you want to be in your head can lead to holding it in your hand.     Show Notes: [00:55] Bob shares about his most recent book, The Art of Thinking.   [01:08] Most people don’t think at all and it is the highest function we are capable of. We have a marvelous mind and there is a power flowing to and through us.  When that power flows into our consciousness, we give it direction.  Most people have a program already written in their mind and that program controls their behavior.   [03:18] You can spend time thinking about what is wrong and how you can’t or you can spend time thinking about what is right and how you can.  [05:36] We let our limitations control us rather than our possibilities.   [06:20] Everyone of us has infinite potential locked up within us.  If we can build a vision in our mind, we can execute it.  Don’t spend a second thinking about why you can’t.  [07:32] When a child is born, we don’t focus on their potential.  We look more about what they are doing then what they are capable of doing.  We don’t teach them much about their potential.   [08:22] If I can see it in my head, I can hold it in my hand.  You can get everything you need to build whatever you can visualize in your mind.   [10:37] We can all build images.  We are image makers.   [11:17] You say yes and you figure it out.   [12:35] How many of you act on those gut instincts?   [14:18] Decision is going to direct you where you are going.  Most people shy away from making decisions. We have an amazing imagination.  [15:53] Everybody is creative.  We have phenomenal powers locked up within us.  [18:26] That creative urge flows to and through us. We have these urges that are powerful and we have to learn how to control and direct them.  [19:25] Bob shares the second book that has been most valuable to him.  [20:19] You have more power, talent, and ability within you then you will ever dream of utilizing.  [22:34] Listen to somebody that has already made it where you want to be and do exactly what they tell you until you find out they are lying or don’t know what they are talking about. [24:29] We fail our way to our goal.  Keep your sight on the target you are shooting at and correct as needed.     Links and Resources: Download Bob and Loral's EBook Offers: https://askloral.com/book-special/  Ask Loral App: https://apps.apple.com/us/app/ask-loral/id1241508593?ls=1  Loral on Facebook: https://www.facebook.com/askloral/  Loral on YouTube: https://www.youtube.com/user/lorallive/videos  Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/  Money Rules: https://integratedwealthsystems.com/money-rules/  Millionaire Maker Store: https://millionairemakerstore.com/ Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/  Integrated Wealth Systems: https://integratedwealthsystems.com/  Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates

Download Bob and Loral's EBook Offers: https://askloral.com/book-special/  I am so privileged, excited, and honored to have with you my mentor for decades.  We have made millions of dollars together.  I am privileged to bring Bob Proctor on this episode of the podcast.  This podcast is about making money, keeping money, investing with a team, and none of it will happen if you don’t know how to think and stop the behaviors we talk about.  This episode is part one of a two-part series.  We talk about the importance of writing your goal down, turning your want into a desire, and being emotionally invested in your goal. Bob shares about his transition from cleaning floors to personal development and training the world.  He shares about his first audio and his next production steps. You don’t want to miss what we talk about next in part two.   Show Notes: [01:26] Nobody is self-made. We have team-made millionaires.   [02:40] Bob shares where and how he made his first million dollars.   [04:47] Bob’s mentor told him that he had to decide exactly what he wanted, write it on a card, and carry the card in his pocket.  He has carried a card in his pocket ever since that day.  [05:35] If you write a goal down, you don’t have to believe it. If you write it out, carry it with you, and you read it often enough you will start to believe it.    [07:01] Success is 5% strategy and 95% mindset.  [08:58] We have to get on the frequency that the good we desire is on. Nothing is created or destroyed.  Everything is already here. As you get on the frequency of the good you desire, it starts to move toward you and you start to move towards it.  [11:36] You don’t get what you want. You get what you desire.  [13:29] The picture that you hold in your mind controls the vibration you are in then that dictates what you attract in your life.   [14:59] You want to get away from mentally dealing with debt. If that is what you are emotionally involved with, that is what you are going to attract.  You have to get rid of the idea.  [17:01] If a person has debts, they have got to set up an automatic debt repayment account.  A portion of your income goes into that account and you don’t spend any time thinking about it.  It is all automatic.   [17:47] Get your head out of the debt and focus on earning money.  If you focus on earning money you are going to start to attract ways to do it.   [18:44] Bob shares about his transition from cleaning floors to personal development and training the world.    [20:28] It is a matter of deciding what you love to do and dedicating your life to it.  Most people never figure out what they love to do.   [22:01] You have to focus on what you want.  [23:26] You don’t learn from winning.  You learn when you lose.   [24:38] When a problem comes up find the good in it.  If your problem is big then you have a big opportunity.  Take your eye off the problem and look at the opportunity.  [27:04] Bob shares how his first audio, You Were Born Rich, came about.  [28:57] Money goes where it is invited and stays where it is welcomed.   [31:11] Bob’s his next steps after creating You Were Born Rich including the video series. Then he started creating programs instead of books. [32:19] Everybody has a book in them.  It is a matter of developing the confidence to know you have something worth communicating.  The first thing you need to develop is the confidence that you know you have something worth communicating. Then you have to develop the confidence to get it out there.    [32:58] You are painting a picture in words that you already have in your head.   Links and Resources: Ask Loral App: https://apps.apple.com/us/app/ask-loral/id1241508593?ls=1  Loral on Facebook: https://www.facebook.com/askloral/  Loral on YouTube: https://www.youtube.com/user/lorallive/videos  Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/  Money Rules: https://integratedwealthsystems.com/money-rules/  Millionaire Maker Store: https://millionairemakerstore.com/ Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/  Integrated Wealth Systems: https://integratedwealthsystems.com/  Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates Download Bob and Loral's EBook Offers: https://askloral.com/book-special/   

On this episode, Mike Bosma is interviewing Loral on his podcast, Bosma on Business.   Loral shares her elevator pitch, all about how she got started in business and became a millionaire.  She also talks about how making the leap into entrepreneurship can be scary, changing the mindset from being an employee, and how important it is to focus on cash flow.    Show Notes: [01:44] Loral shares her elevator pitch.  [03:32] Loral shares how she got into her business and became a millionaire.   [06:08] Mike shares how similar he and Loral’s paths are and how they almost crossed.  [08:36] Loral’s whole attitude about life is that you say yes and figure it out.  [10:39] Taking the leap into entrepreneurship can be scary.  So she buttoned down her expenses and she ramped up her cash flow.   [11:02] You have to decide to get up every day and intentionally drive cash flow for your family.  You have to focus on cash flow.  [12:15] There is a technique for hiring the right people to help you through all this.   [13:44] Mike shares about his jump into entrepreneurship.   [15:53] Loral’s goal is to help people make money as fast as they can through the Marketplace.  [16:37] Making money and having money be a conversation in a healthy way in a family is a huge piece.  [17:50] Whatever you know how to do, figure how you convert it to today’s environment and make money immediately. [19:29] You can sell anything if you are providing value.  [19:53] Loral shares about the Big Table, her ongoing mentoring, and mastermind.  [20:41] Everything you do touches money.  [23:23] Stand back and take in the uncomfortable feeling that comes when selling and then merge into it.  [24:20] A lot of times people don’t have an agenda.  You have to be really clear about your agenda.  [25:44] What do you want because right now you have an opportunity.  Start with what you want. [26:42] Never has the world needed more partnerships and money collaborations than now.  [29:07] Next you need to understand money at an investing level and not just the real estate and stock market.  [30:23] Active money-making and active investing are what create millionaires.  You have to make it and learn to lead your investments.  [32:15] Make money every day. [33:42] Grab Loral’s free ticket and resources here.    Links and Resources: Ask Loral App: https://apple.co/3eIgGcX  Loral on Facebook: https://www.facebook.com/askloral/  Loral on YouTube: https://www.youtube.com/user/lorallive/videos  Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/  Money Rules: https://integratedwealthsystems.com/money-rules/  Millionaire Maker Store: https://millionairemakerstore.com/  Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/  Integrated Wealth Systems: https://integratedwealthsystems.com/  Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates

In this special episode of the podcast, Loral is interviewed by Michelle from the New Mid podcast. Loral explains that the "normal" system we grow up in does not set us up for financial freedom. In the episode, Loral shares strategies for both adults and children on how to make their money work for them. She also shares how to grow wealth in mid-life.  Loral was single and expecting her first child when she realized she needed to rely on herself. The system that we are raised in does not set us up for financial freedom. At that moment she chose to make a great life. After receiving the most Influential Woman in Radio award in 2017, she had a meeting with her boss only to be unexpectedly let go from the company she had helped build. What could have been a roadblock for success turned out to be the best thing that could've happened to her. Show Notes: [01:32] Loral shares about her journey and what drives her.  She committed her life to study how people really become millionaires.   [03:36] You get what you create and think about. Don’t speak to fear at all.  If you want to be wealthy, you will be in good debt.   [05:46] Lean in and learn it instead of fearing it. Learn about it and you won’t fear it.  [07:08] Women outlive men statistically.  The new statistic is that women outlive men by 8 to 10 years now.   [08:51] It is everyone’s responsibility to know the money.  Even if you’re not the primary one making it. You need to know where it is and how to access it.  [09:21] So what, now what. So what, it has happened.  Now, what do you want to do about it? At this moment choose and make it the greatest life that you want to make it.  [11:42] Loral has a whole structure on how to get your kids through college not as a cost, but instead as a deduction.  She starts with her kids when they are born.  [12:34] Start talking about money with your kids now.  You should have Monopoly, The Cash Flow Game, and The Millionaire Maker Game. Play them in this order.  [14:02] Kids cannot begin building their own credit until they are eighteen.   [15:30] Never pay your kids an allowance.  An allowance is like a paycheck so you are conditioning them to be an employee.  [16:08] Start with a checking and savings account when they are born.  At 10, they get a car savings account.  They have six years to earn their car.  [18:44] A job isn’t where the money comes from.  It just happens to be your choice for right now.   [19:28] Being an entity is an intention to live your life.    [20:03] If you are an individual you don’t get the benefit of a lot of deductions. When you get an entity it is different because you legally own a company.   [21:58] School designed you to become an employee.  [23:54] Your first $100,000 for everybody is the toughest money you will ever make because we are conditioned to be employees.   [24:21] Mentors are so important.  Entrepreneurs have to lead entrepreneurs. We have to help each other get through that first part.  [25:41] Grab Loral’s Virtual Swag Bag here.  [26:54] Do not use a credit card to invest. Once you make your money, put it to work and invest it.   [27:42] Women are starting businesses faster because their need for money is typically so much higher.  Women tend to move toward that six-figure mark but not to the seven.  Only 3% of percent of women on the planet go into the millions in a business.  [28:11] You want to change lives, make a million bucks. A lot of women don’t get to where high, high money is made.  [29:05] Your first six are the roughest six, you might as well go to seven. You already have the hard work done.   Links and Resources: Ask Loral App: https://apple.co/3eIgGcX  Loral on Facebook: https://www.facebook.com/askloral/  Loral on YouTube: https://www.youtube.com/user/lorallive/videos  Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/  Money Rules: https://integratedwealthsystems.com/money-rules/  Millionaire Maker Store: https://millionairemakerstore.com/  Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/  Integrated Wealth Systems: https://integratedwealthsystems.com/  Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates The New Mid Podcast: https://www.thenewmid.com/podcast/lorallangemeier Think and Grow Rich for Women: https://shopintegratedwealthsystems.com/products/think-grow-rich-for-women Loral’s Virtual Swag Bag: https://justmetloral.com/podcasts/  

Get Sharon and Loral Book Bundle Here: http://askloral.com/sharon Sharon Lechter is joining us on the podcast today.  Sharon Lechter is an entrepreneur, author, philanthropist, international speaker, and Chartered Global Management Accountant. Regarded as a global expert on financial literacy, Sharon has served as a national spokeswoman and Presidential Adviser on the topic for two US Presidents. She will be sharing her new book, Exit Pass.  In this episode, Sharon shares everything you need to know about financial literacy.  She shares about what intellectual property is and how you can define, highlight, and protect your intangible assets to get the most out of your company. She also talks about business systems, mistakes to avoid, and things to think about as a new entrepreneur.    Show Notes: [02:12] Sharon got her degree in accounting.  Around the age of 25, she decided to jump into entrepreneurship.   [03:46] In December of 1992 she dedicated the rest of her career to financial literacy. They teach the power of buying, building, and creating income-producing assets.   [05:58] Sharon also served President Bush on the first president’s Advisory Council on Financial Literacy.  She served President Bush and President Obama.   [05:50] She has also written twenty-six books. Her new book is called Exit Rich.  [07:40] Business systems are what allows your business to scale. It is what allows you to manage your business.   [09:08] When you start your business, you should be thinking about your exit from the start so you build a business, not a job.    [10:14] If you build the right systems and have the right people in your company, you get your time back because you have people running your systems.  You are getting your time back.     [11:48] It is so important to understand what you need to have in place to secure the rights and ownership of your intellectual property.   [13:26] Most people haven’t identified what intellectual property they actually have.   [14:39] The better that you can define, outline, and highlight and protect your intangible assets, the higher price you are going to get.  [15:38] Understanding from the very beginning positioning yourself to be able to identify who you are and how you stand up.  [16:44] Don’t manage people. Manage systems.  [18:28] As a business owner wanting to sell, you protect your people.  [20:03] Brokers have the experience to make sure you have all the documentation in place and they also have buyers ready to purchase.  [22:12] When you have somebody as an independent contractor it is so important to have a written agreement.  [24:12] “The person with the biggest database wins.” -Bob Proctor  [25:50] Give your followers a gift to get them to come home to your database so you own those names.  You can continue to maintain that relationship and have a lifetime value of customers.   [26:18] Social media isn’t necessarily sustainable because we are not in control of that destiny.  The social media platforms are your lead generation.  [27:23] Grab Sharon’s new book Exit Rich here.  [28:11] One idea can add incredible evaluation or add sales because it is helping you streamline your operations whether you are exiting or not.  [28:54] You want to structure your business so it can become an economic engine that supports you and your family for generations.    Links and Resources: Ask Loral App: https://apple.co/3eIgGcX  Loral on Facebook: https://www.facebook.com/askloral/  Loral on YouTube: https://www.youtube.com/user/lorallive/videos  Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/  Money Rules: https://integratedwealthsystems.com/money-rules/  Millionaire Maker Store: https://millionairemakerstore.com/  Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/  Integrated Wealth Systems: https://integratedwealthsystems.com/  Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates  Exit Rich: http://www.askloral.com/sharon 

In this episode, we are going to talk about insurance.  There is life insurance and death insurance.  Today we are focusing on life insurance. Today I am joined by Jason Henderson.  Jason is an insurance expert who is going to talk about why you need life insurance.   In this episode, Jason shares everything you need to know about cash-value insurance.  He shares ways to get started as well as questions you need to be asking yourself to take advantage of extra cash flow now.  He also talks about the numerous benefits including more cash flow and tax benefits.     Show Notes: [01:09] You need a trust to avoid probate.  You need a doable power of attorney with everything going on with COVID. Life insurance is going to recession-proof and economy-proof your portfolio.  A lot of people are too heavy in one asset class.   [01:35] Jason has been doing insurance work for about sixteen years previous to those years he was a scientist.  [03:05] Jason shares why he pivoted from science to insurance.  [03:58] Insurance isn’t a necessary evil.  It is an asset.  [04:44] There is a different type of life insurance where you actually become the first beneficiary of the policy.  It is a type of insurance meant to help in tough times so you are able to do what you set out to do in life.   [05:30] With this type of insurance you are actually buying a portion of the insurance company that can be sold.  It is an asset that is guaranteed to increase in value every single year.   [07:24] Cash-value life insurance is not changed very much based on the current presidential administration.   [08:11] The death benefit comes income tax-free to your beneficiaries.  [09:28] Cash-value life insurance already has disability and long-term care built into it.   [11:01] A policy can be designed toward cash value accumulation or towards death benefits.   [11:55] If you design it right a major portion of your first year’s premium is going to be available in cash for you to use.  Each year you are going to have access to even more.  [13:57] Most people when they talk about life insurance they talk in terms of death benefits.   [14:27] It is all about the cash and using that cash to build wealth in other ways.  [16:18] We always want to avoid being audited.  We don’t want to do anything to get sideways with the IRS.  [17:35] Click here to schedule your appointment with Jason.    [18:24] There is no right, wrong, absolute answer in the financial and insurance industry. There is the individual answer.  [19:42] You NEED some insurance. If you owe someone or love someone you need insurance.  [20:10] The other part is how much do you want to deposit each year and have access to more money? [21:58] Jason shares some of the questions people need to be thinking about prior to scheduling a call.  [24:17] There are two types of insurance companies.  There are stock companies and mutual companies.  [25:09] It is sometimes called participating insurance because you participate in the company profit.   [27:13] Grab an appointment with Jason and figure this out.   [29:06] People need to be extremely strategic with their money and where they are going to put it given the new administration.  [29:20] The world is your oyster.  This makes everything possible.    Links and Resources: Ask Loral App: https://apple.co/3w3sXi7 Loral on Facebook: https://www.facebook.com/askloral/ Loral on YouTube: https://www.youtube.com/user/lorallive/videos Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/ Money Rules: https://integratedwealthsystems.com/money-rules/ Millionaire Maker Store: https://millionairemakerstore.com/ Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/ Integrated Wealth Systems: https://integratedwealthsystems.com/ Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates Schedule an Appointment with Jason: http://www.askloral.com/insurance

Today I am joined by Ken Starks.  Ken specializes in mortgages.  This episode is packed full of great information if you need a mortgage or will need a mortgage in the recent future.   In this episode, Ken shares everything you need to know to make sure your finances are in order to qualify for the mortgage you want and achieve your end goal.  He shares common pitfalls he sees and ways to prepare to qualify for a mortgage. He also shares how his team can help you meet your goals and his outlook on what the future holds.    Show Notes: [01:22] Rates are extraordinary right now. They are beyond all-time lows.  [02:49] If you are going to be financing any real estate you want to do that before you finish up your W-2 job.  [03:31] Properly filing your taxes so you can qualify for what you want is key.  [04:34] Right now equity is high and rates are very low.  [05:13] On a first mortgage the highest any mortgage product will go is 80% of your value on a cash-out loan.   [05:45] It is about money rules in terms of deciding what is right for you. Following those money rules is key.  [06:08] Ken is able to openly shop vendors for the best possible rates and fees for your scenarios.  [07:00] During COVID, guideline overlays became extremely common.  Minimum credit scores FHA and conventional loans have never changed.  Individual lenders have applied overlays on top of their minimums.  [08:44] Ken shares about his background. After 9-11, he got into the mortgage business. [10:31] Many things come up when you are trying to develop a mortgage strategy for whatever your end goal is.  [10:58] If you took forbearance, you need to be out of it when you are ready to take a loan. You want your forbearance to be invisible because that is considered delinquency.  [11:27] Fannie Mae allows for one full year of self-employment before they will do a loan. Depreciation is your friend as an entrepreneur.  [12:24] New credit and high balances can easily sway a credit report 40-50 points.  [14:29] You cannot have a loan in forbearance and close on a new mortgage.  It depends on what type of mortgage you are trying to do that depends on how long you have to wait until you can close it.  [16:01] This is no inventory.  Rates are amazingly low which is stoking demand.  [17:26] Demand is outpacing supply, even for new builders.  [18:29] The first step with Ken’s team is to talk through your goals and see what you are trying to accomplish, see where you are with credit, and figure out where you might be with income qualifying.  [20:14] It is hard to know what the future looks like.  There are many factors that can affect the future.  [22:14] Commercial investments are a little bit different now.  When people have very complex finances as an individual, once we understand those things it is very easy to layer into the commercial needs that they might have.  [23:03] Schedule your call to meet with Ken’s team.  [23:13] There are so many markets you can invest in. [24:04] Say yes and figure it out.  Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Integrated Wealth Systems Affiliate Sign-Up Schedule an Appointment with Ken