John Ensley: Bank on Yourself and Build True Wealth

John Ensley is leading a financial planning revolution to help you take back control of your money, your lifestyle, and your retirement plan. John is president of J-Ensley Financial, a registered investment adviser firm in Washington State. He holds a Chartered Financial Consultant® and National Social Security Advisor designations and is one of an elite group of highly trained Bank On Yourself® Professionals. John is passionate about helping individuals, families, and small businesses succeed financially without taking on unnecessary risk.

In this episode Leonard and John discuss:

• Tailoring retirement plans to individual goals and financial security
• Importance of tax diversification and defining retirement on personal terms
• Unique retirement perspectives of Gen X and the value of financial education
• Complexities of Social Security and cultivating good financial habits early
• The concept of "banking on yourself" through whole life insurance contracts

Key Takeaways:

• A personalized approach to financial planning is crucial, as it aligns with individual goals, risk tolerance, and unique circumstances, rather than adhering to one-size-fits-all strategies.
• Tax diversification emerges as a powerful strategy, leveraging various account types and Roth conversions to optimize tax efficiency and maximize retirement income.
• Retirement is not a fixed concept—Gen Xers, in particular, embrace extended careers for both financial security and personal fulfillment, redefining traditional retirement timelines.
• Navigating Social Security complexities, along with planning for longevity and long-term care, requires proactive strategies and tailored financial tools to mitigate risks.
• The "Bank on Yourself" strategy introduces a fresh perspective on financial independence, using whole life insurance as a funding source, bypassing conventional reliance on banks and credit cards.

"I think you just can't understate the importance of saving, living below your means, and building up a stockpile that turns into wealth over time. It’s a critical lesson to learn, and the right time to learn it is when you're starting out in your career. That’s when you have the time to set habits early that will get you where you want to go."

-John Ensley

Connect with John Ensley:

Website: https://jensley.com/ 

LinkedIn: https://www.linkedin.com/in/johnensley/ 

Retirement Pathways Analysis: https://jensley.com/myprofile/ 

Connect with Leonard Raskin:

Website: https://www.raskinglobal.com/ 

LinkedIn: https://www.linkedin.com/in/leonardraskin/ 

Facebook: https://www.facebook.com/RaskinGlobal 

Email: lraskin@raskinglobal.com  

Leonard’s BOOK: FiduciWho?: What a Real Fiduciary Will Tell You about How to Protect, Grow, Enjoy, and Transfer Your Wealth

Show notes by Podcastologist: Angelo Paul Tagama

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.