The Money Advantage Podcast Podcast Por Bruce Wehner & Rachel Marshall arte de portada

The Money Advantage Podcast

The Money Advantage Podcast

De: Bruce Wehner & Rachel Marshall
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Personal Finance for the Entrepreneurially-Minded!The Money Advantage, LLC. All Rights Reserved. Desarrollo Personal Economía Finanzas Personales Gestión y Liderazgo Liderazgo Éxito Personal
Episodios
  • Spouse Financial Preparedness: Ensure Your Partner Can Flourish—Not Fumble

    Spouse Financial Preparedness: Ensure Your Partner Can Flourish—Not Fumble
    Jul 14 2025
    I’ll never forget the moment my co‑host Bruce Wehner shared a powerful story: Nelson told his wife, Mary, “I need to teach you how to be a widow.” That striking phrase stopped us in our tracks. It wasn’t morbid—it was strategic. Nelson recognized that spouse financial preparedness is the cornerstone of true legacy planning. If your partner isn’t prepared to manage finances when the unthinkable happens, your careful planning unravels—and unintentional burdens form. https://www.youtube.com/live/bVBMnWHGp1Y In today’s fast-paced world, talking about money can be uncomfortable. But taking the time to ensure spouse financial preparedness isn’t just responsible—it’s transformative. As Rachel Marshall and Bruce Wehner, co-hosts of The Money Advantage Podcast, we’re here to walk you through why preparing your spouse is crucial, and how to do it effectively. By reading this article, you’ll discover: What “financial preparedness” truly means The critical pieces every spouse should know Practical tools we use with clients How to handle emotional differences in money habits A step-by-step framework to empower your spouse today Why Spouse Financial Preparedness MattersKey Areas for Spouse PreparednessIncome Plans—Now & ContingencyTaxes, Medicare & Social SecurityInsurance & ProtectionDigital Access & Password SharingEngaging Trusted AdvisorsThe LIFE Financial FrameworkManaging Emotional DifferencesTools & Rituals for PreparednessEquip Your Spouse. Protect Your Legacy.Book A Strategy Call Why Spouse Financial Preparedness Matters Bruce and I often see one partner “in the dark.” The hardworking spouse makes decisions—but the other may trust blindly, unaware of details. That puts them at risk—be it missing advisors’ phone numbers, not understanding insurance coverage, or worse: being blindsided by critical decisions. One case Bruce shared involved a wife who thought their net worth was minor—only to discover $30 million after her spouse had passed. Imagine the emotional shock—and legal busyness. That’s why spouse financial preparedness is a legacy necessity, not an optional extra. Key Areas for Spouse Preparedness To be truly ready, your spouse needs awareness and access across five areas: Income Plans—Now & Contingency Your spouse should understand both your current income strategy and what happens financially if one partner isn’t there. Bruce calls it having a “backup income plan.” Ask: what if I retire early? What if one income stops? Taxes, Medicare & Social Security One spouse passing makes tax filing switch to “single,” which can raise Medicare Part B and D costs by up to $500/month. Understanding IRMA brackets and how Social Security survivor benefits work is vital. A spouse who knows the rules won’t fall prey to unexpected costs. Insurance & Protection Life is unpredictable. Couples need clarity on life, health, disability, home, auto, liability—and how they work together. A clear policy keeps your spouse empowered and protected. Digital Access & Password Sharing In today’s digital age, locked-out accounts are a nightmare. Did you know iPhone allows a “Legacy Contact”? A shared password vault ensures your partner can access bank, utilities, email—and even that mysterious password for your favorite travel site. Engaging Trusted Advisors Make sure your spouse knows and trusts your financial, legal, insurance, and tax advisors. Ideally, they attend meetings together or at least meet face-to-face. That ensures seamless transition—and peace of mind—should something happen. The LIFE Financial Framework Bruce and I use a powerful acronym—L.I.F.E.—to frame preparedness: Liquid: How much cash is needed within minutes for emergencies? Income: Do you want fixed guaranteed income to cover essentials, plus variable funds for lifestyle? Flexible: Which assets can be repositioned for other goals—travel, education, emergencies?
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    1 h y 1 m
  • How Much Life Insurance Do I Need? Ask This Instead

    How Much Life Insurance Do I Need? Ask This Instead
    Jul 7 2025
    How Much Life Insurance Do I Need? Why That’s the Wrong Question If you’ve ever asked, “How much life insurance do I need?”—you’re not alone. It’s a common starting point. But in this article, Bruce and I (Rachel) want to challenge that question and offer something better. Because "need" is often based on a survival mentality—what’s the bare minimum? But the real question isn’t about scraping by. It’s about what you want your life insurance to do—for you, for your spouse, for your children, and for future generations. https://www.youtube.com/live/xhGublGpz7w In this article, you'll learn: Why a needs-based approach might be leaving your family unprotected How to calculate a more empowering life insurance amount What insurance companies actually look for (and why you can't be "overinsured") The role of Infinite Banking in maximizing death benefit and legacy How to think long-term, strategically, and legacy-minded when it comes to life insurance How Much Life Insurance Do I Need? Why That’s the Wrong QuestionWhy My Husband’s First Thought Was Our Life InsuranceNeeds-Based Life Insurance Leaves You ShortThe Real Question: How Much Life Insurance Do I Want?Income Replacement + Future Value = What You’re Really ProtectingDeath Benefit Grows with Infinite BankingInsurability: Use It or Lose ItCost vs. Value: What Wealthy People UnderstandBuild a Life Insurance Strategy That EmpowersLearn More in the PodcastBook A Strategy Call Why My Husband’s First Thought Was Our Life Insurance Six years ago, I was in the ICU. My husband, Lucas, held our newborn baby girl as the doctors delivered updates that swung between hope and despair. One moment, it was "we stopped the bleeding," the next, "this is still serious." As he prayed through the fear and the unknown, one practical thought anchored him: We have life insurance. Not just any policy—we had as much life insurance as we could get. And in that moment, he knew he wouldn't have to make rushed decisions or shoulder financial pressure on top of emotional trauma. That policy was our safety net, our peace of mind. That’s why this conversation matters. It’s not just about numbers on paper. It’s about preparing for the moments you hope never come—and giving your family the ability to respond from a place of strength. Needs-Based Life Insurance Leaves You Short Most people approach life insurance with a checklist: Mortgage? Check. College for kids? Check. Debts? Check. Burial expenses? Check. And that’s how traditional advisors calculate the "amount you need." They total up obligations and say, “That’s your number.” But this method reduces life insurance to a bill-pay strategy. It doesn’t account for who you are, the value of your work, or the future your family deserves to continue building. In the Infinite Banking world, we don’t view life insurance as just a financial parachute. We see it as a tool for opportunity, a storehouse of value, and a means to start your family ahead, not just keep them from falling behind. The Real Question: How Much Life Insurance Do I Want? "Need" is survival. "Want" is vision. If your life insurance policy could fund your family’s future, preserve your estate, and launch the next generation into opportunity—how much would you want? Bruce and I often see families with grossly underfunded policies simply because they didn’t know what was possible. Insurance companies assess what’s called your human life value—a calculation of your income, age, and potential future earnings. Based on that, they allow you to apply for a corresponding death benefit. If you qualify for $4 million in coverage, it's because they believe your life’s economic value warrants it. You can’t be overinsured. The carriers won’t let you. So the real question becomes: If they’ll insure me for this amount… why wouldn’t I take it? Income Replacement + Future Value = What You’re Really Protecting
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    35 m
  • Mutual Holding Companies: What Whole Life Policyholders Need to Know

    Mutual Holding Companies: What Whole Life Policyholders Need to Know
    Jun 30 2025
    Lately, we’ve seen a troubling trend online. People—some well-meaning, some not—are sharing misinformation about mutual holding companies, claiming these companies are no longer mutually owned or that they’ve quietly abandoned their policyholders. That couldn’t be further from the truth. So Joe, Bruce, and I decided it was time to clear the air. Because when it comes to protecting your family’s legacy, clarity matters more than opinion. You deserve to understand the facts—not fear-based interpretations. And as we’ve seen too often, when confusion spreads unchecked, people start making financial decisions on the wrong foundation. That’s not stewardship. That’s reaction. Why We Had to Talk About Mutual Holding CompaniesWhat Is a Mutual Holding Company?Do Policyholders Still Have Ownership and Voting Rights?Why Would a Company Make This Change?Are Mutual Holding Companies Dangerous?What Does This Mean for Your Infinite Banking Strategy?What This Means for YouBook A Strategy Call Why We Had to Talk About Mutual Holding Companies When you use whole life insurance as a long-term asset—and especially when you're building a Privatized Banking System—you want to know the company you’ve partnered with is stable, aligned with your values, and built to honor policyholders for the long haul. That's why we recorded this episode: To define what a mutual holding company really is To contrast it with traditional mutual companies To explore how it affects voting rights, ownership, and trust And to provide clarity amid a cloud of online confusion Our goal is not to push any specific company, nor to attack those raising questions. But we do want to make sure the conversation is grounded in accuracy—because your stewardship depends on it. What Is a Mutual Holding Company? At its core, a mutual holding company (MHC) is a specific kind of corporate structure that allows a life insurance company to retain mutual ownership while gaining the flexibility to create stock subsidiaries. This means the parent company is still owned by policyholders, while the subsidiary has the ability to raise capital through stock offerings. Bruce broke it down this way: “A mutual company is owned by the policyholders... When it becomes a mutual holding company, it’s still owned by the policyholders, but they insert a stock company below that for reasons like expanding or raising capital.” This structural change is about flexibility—especially for future growth, acquisitions, or increased reserve requirements. It’s not inherently negative. It’s a strategic business decision, and it's one we should understand, not fear. Do Policyholders Still Have Ownership and Voting Rights? Yes—and this is where the misinformation gets loudest and most misleading. In a mutual holding company, policyholders still own the mutual holding company itself. That hasn’t changed. What has changed is that the operational insurance company underneath the holding company is now a stock entity—one that may have shareholders in addition to the parent company. Rachel explained: “There’s this perception that if a company becomes a mutual holding company, they’re no longer mutually owned... But that’s not true. The policyholders still own the mutual holding company. They still elect the board.” So yes, the structure is layered. But no, policyholders haven’t been stripped of ownership or voting rights. Joe added that this structure can even be a way for companies to avoid full demutualization, which would entirely sever mutual ownership. Why Would a Company Make This Change? There are many reasons an insurer might transition to an MHC: To raise capital for growth To meet solvency or reserve requirements To create a defensive structure to avoid hostile takeovers or future demutualization To diversify business offerings or form subsidiaries Bruce emphasized that mutual companies must act in the poli...
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    55 m
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