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3 DIMENSIONAL WEALTH LIVING
July 2024
385-257-2577
3DimensionalWealth.com
INSIDE ISSUE
Boost Your Family’s Learning and Fun With Gamification WHAT’S YOUR GAME PLAN?
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Boost Your Family’s Learning
Imagine you’re on a getaway with the family to a cabin. The day’s been filled with a breakfast devotional, hiking with lunch on the trail, afternoon ATV riding, firepit foil dinners, and now you’re cozy inside having hot chocolate and treats. As a nighttime activity, you start by reading the following: ARE THEY SURE THEY’RE RIGHT? A businessman in San Diego had just turned off the lights when a man appeared and demanded money. The owner opened a cash register. The contents of the cash register were scooped up, and the man sped away. A member of the police was notified promptly. Then you hand around a 1-page questionnaire to everyone, and ask them to fill it out based on what they heard in the story. Then you go over the correct answers and have everyone score themselves. I’ve done this exercise countless times with family and professionals, and many of the participants are shocked when they learn they’ve gotten a majority of the answers wrong. Why? While it seems simple enough, this activity is designed to test perceptions and provide a
lesson on the importance of avoiding judgment before understanding the whole picture.
and Fun With Gamification
(I’d give you more details, but that would spoil the surprise! You can download a copy of The Shopkeeper’s Store exercise in our 3 Dimensional Wealth Toolkit, using the QR code on this page.)
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Teaching Our Kids Life Lessons Through Music, Sports, and Play
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5 Things Every Blended Family Should Consider
SET THE STAGE FOR LEARNING This is one of over a dozen activities, including the Nail Game, the Game of 3 Sticks, and
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10 Ways to Level Up Your Professional Game Perfect Spots for a Laid-Back Holiday TikTok Embraces Power Walking
Sevens, that I use at gatherings and events, all designed to gamify principles I’m about to teach.
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For example, just about everyone, including CPAs and tax attorneys I’ve taught, gets stumped by this math riddle (you can give it a whirl here): Three fishermen go out for a great day of fishing. At the end of the day, they check into a little mountain lodge, and the clerk says, “I’ve got a room with three beds in it that you can have for $30.” They each shell out $10. As the clerk enters the transaction into the books, she remembers she’s been discounting the room to $25, because it’s close to the noisy laundromat. She takes five one-dollar bills out of the cash register, hands them to the bellboy, and asks him to take it to the room to refund three men who checked in.
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What They Get Wrong About IUL
Make the learning fun — download The Shopkeeper’s Store and The Game Plan from our toolkit today!
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IUL Performance Watch Index Insights
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kept $2. Where’s the other $1? Most people can’t figure it out, until I remind them that the room was discounted to $25. It’s not just about adding; it’s also about subtracting. I use this activity as an analogy for IRAs and 401(k)s. Most people “add up” the cash value they’ll have someday in their traditional accounts and plan on that for retirement, without realizing they’ll need to subtract about a third that will go to Uncle Sam in taxes when they withdraw their money. INVOLVE THEM — THEY’LL UNDERSTAND Why use gamification to teach principles, you might ask? There’s the old adage often attributed to Confucius that goes, “If you tell them they’ll forget. If you show them, they may remember. If you involve them, they will understand.”
As the bellboy is heading toward the room, he can’t figure out how three men will divide up five one-dollar bills. He decides it wouldn’t hurt to pocket two of the bills for himself and ends up giving $1 to each of the men.
So let’s do some accounting. If each man paid $10 and got a $1 refund, they paid a net of $9 each, for a total of $27. The bellboy
I’ve found when teaching family, professionals, and community groups, teaching a principle through the use of activities
STRIKING THE RIGHT CHORD TEACHING OUR KIDS LIFE LESSONS THROUGH MUSIC, SPORTS, AND PLAY
When our daughter, Taylor, started playing violin, I’ll never forget her first recital. If you’ve had any kids learn to play musical instruments, you know their debut in front of an audience is usually fraught with nerves. They’re still getting the hang of reading the music, placing their fingers, and in a violinist’s case, managing the bow. PULLING BACK I remember when Taylor understandably struck her first wrong note, she recoiled a little. With every subsequent note that went sideways, her bow strokes got shorter, quieter, more hesitant. Did we care? Of course not! We celebrated her big accomplishment afterward, letting her know we were thrilled she was learning something new and had the courage to take the stage. PUSHING THROUGH A little while later, we did take the opportunity to revisit her performance and use it as a learning experience. We asked what her takeaways were, and talked about the power of letting go of worrying what people thought (especially because everyone in that audience was cheering on the developing musicians!). We also discussed the
importance of leaning into the process, maintaining long, clean bow strokes.
Now that Taylor is a more experienced violinist, she plays complicated pieces with ease and confidence. If a note is off a bit, she just moves on, maintaining strong bow strokes and regaining the melody. THE POWER OF PLAY Just as Doug’s article on p. 1 talks about the power of gamification to teach principles, we’ve found the same could be said of teaching kids life principles through music, dance, and sports. I’ve helped coach Ethan’s football team, for example, and as offensive coordinator, I get down to serious analytics with the offensive line, watching game film, adjusting the plays, and running drills to improve their skills. As I’m sure you’ve discovered with your own kids or grandkids, it’s often through play, creativity, and games that
they explore critical values like working through learning curves despite the discomfort, putting in the practice, finding the lessons in failure, and contributing to a team. I’d encourage all of us to find opportunities to “gamify” life lessons for the young people in our lives. I know as I look back at all the sports
and performances my parents encouraged us Andrew kids to participate in, we learned a lot.
I’m excited for Harmony and I to be passing those lessons along to our kids, and I can’t wait to watch them put these Foundational Dimension principles into practice throughout their lives.
–Emron Andrew
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5 THINGS EVERY BLENDED FAMILY SHOULD CONSIDER ESTATE PLANNING ESSENTIALS FOR MAKING THE TRANSITION SMOOTH
that require participation is the best way to help them understand and remember the concepts.
As you look at teaching 3 Dimensional Wealth values to your family, consider gamifying the concepts before you dive into the specific principles. It can be something like the mind-benders and riddles I use, or backyard games that reinforce teamwork…anything that can get people actively engaged and provide the fodder for a powerful analogy. If you’re feeling innovative, you can even come up with your own games. I’ve developed a free tool, The Game Plan, you can use to map out how to gamify a specific concept. You’re invited to download it today!
ROSS BRUNSON, CONTRIBUTING WRITER
Estate planning can be a complicated and emotional process for any family, and if you’re among the many couples who choose to blend their families from previous relationships, it’s important to consider how this dynamic may uniquely impact your estate planning decisions. ALL THE KIDS Blended families often bring together children from each spouse’s previous relationships, as well as children from the new union. It’s important to have open and honest conversations as a couple about ensuring you provide for all of the children and exactly how you want your assets to be distributed. This may mean setting up specific trusts or designating certain assets to go to each child. THE RIGHT BENEFICIARIES Another important consideration is naming the right beneficiaries on your life insurance policies, retirement accounts, and other financial assets. Make sure that your beneficiaries are up-to-date and reflect your current wishes. Failure to do so could result in unintended consequences, such as your ex-spouse receiving assets that you intended to give to your current spouse or children. BEFORE THE MARRIAGE It’s also important to consider the possibility of a prenuptial agreement when entering into a blended family situation. A prenup can help clarify how assets will be divided in the event of divorce or death, which can prevent conflicts and misunderstandings down the road. GUARDIANSHIP DECISIONS In addition to financial assets, it’s crucial to consider the guardianship of any minor children in the event of your passing. Discuss with your spouse who you would like to appoint as guardian, and make sure that this is reflected in your estate plan. It’s also a good idea to have a backup guardian in case your first choice is unable or unwilling to take on the responsibility. REGULAR UPDATES Finally, it’s important to update your estate plan regularly to accommodate any changes in your family dynamics. Life is constantly changing, and your estate plan should evolve with it. Make sure to review your plan annually and make any necessary updates to ensure that your wishes are accurately reflected. While it requires communication and collaboration, it’s worthwhile to work with a knowledgeable estate planning attorney who can help you prevent everything from hurt feelings to catastrophic family fallout after your passing. It’s all part of being intentional with the Financial Dimension legacy you leave behind.
–Doug Andrew
FUN FOOD IDEAS
CRUNCHY NOODLE CABBAGE SALAD
While it’s hot out, this Andrew family salad makes for a refreshing, healthy side.
INGREDIENTS
Salad •
Dressing •
1 head of cabbage, shredded
1/2 c olive oil
•
6 Tbsp rice vinegar
•
2 Tbsp slivered almonds
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4 tsp sugar
•
4 Tbsp sesame seeds
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1 tsp salt
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2 pkgs uncooked ramen noodles, crushed
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1 tsp pepper
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2 Tbsp Accent
Toast the almonds and sesame seeds. Mix the salad ingredients together. Prepare the dressing. Mix dressing into the salad just before serving (to preserve the crunch of the noodles). DIRECTIONS
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ARE YOU ON THE COURT OR THE SIDELINES?
Help Your Team Experience More
As entrepreneurs, we’re often asked by clients to share business strategies — many of which are captured in Doug’s book, “The 10 Keys Transformation.” Here we share some of those insights with professionals in our 3 Dimensional Wealth community. Ever been to an NBA game? Here where we’re headquartered in Salt Lake City, this is Utah Jazz country. No matter if the team is having a successful playoff kind-of-year or is struggling to rebuild, the Jazz have a passionate fan base. ON GAME NIGHT On game night, you’ll notice the traffic starts to get thick a few miles out from the arena, with taillights creeping along the freeway and downtown streets. There are probably countless commuters who wonder why their drive home is so congested. Then at game-time, there are nearly 20,000 people in the arena. They’re wearing their Jazz colors, screaming wildly at the court. With every three-point shot, they cheer. With every foul call they disagree with, they jeer. They’re doing their best to bring about a win, while they sip on something cold and munch on snacks from the concessions. Now zoom down to the court. Here, each team has five players at a time, putting it all on the line. They are running plays, shooting field goals, three-pointers, foul shots. They are taking all the hours, days, weeks, and months of training they’ve put in, and they’re channeling it into the forty-eight minutes of the game. Out of the thousands driving by, the 20,000 people in the arena, the countless fans watching at home … there are only a handful of people actually making something happen during that game.
Interested in winning in business? Order your free copy of “The 10 Keys Transformation” today!
Will you drive along the outskirts, wondering why your progress is slow? Are you content with being near the action, relegating yourself to cheering others on for their huge achievements? Or will you be on the court, dialed in, constantly improving your skills, listening to mentors, helping your team win? We invite you to dive into Doug’s book, “The 10 Keys Transformation,” written for entrepreneurs and professionals who want to level up their game. In this powerful guide, you’ll explore 10 strategies for making pro-level progress, get real with where you are today, learn career-building concepts, and discover how to work consistently to create professional abundance.
IN YOUR CAREER The references are clear—will you be the commuter, the fan, or the player in your career?
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HIDDEN GEM VACATION DESTINATIONS OFF THE RADAR
CRATER LAKE NATIONAL PARK Make your way to Oregon and dive into the deepest lake in the country! Crater Lake National Park’s namesake was formed when a volcanic eruption triggered a mountain to come apart in spectacular fashion. You can stay at plenty of campsites and find excellent fishing in the lake’s pristine and seemingly bottomless water. If you are a fan of hiking, fishing, or breathtaking views, then Crater Lake is for you. CRATER OF DIAMONDS STATE PARK If you have ever felt envious of the prospectors who made their riches during the California Gold Rush, then pay a visit to Crater of Diamonds State Park in Arkansas, where you can discover your own hidden gems! You can discover rare rocks and minerals in a massive field birthed by volcanic activity, including
Looking for a getaway that promises a bit of nature and adventure for a Family Retreat With a Purpose this summer? If so, consider a holiday at a less congested, more laid-back locale. These hidden gems offer beautiful views and exciting excursions — all without the headaches that come with vacationing to big-name destinations! PINNACLES NATIONAL PARK Make an excursion to Pinnacles in California to enjoy the splendor of nature without having to share space with millions of tourists. With over 30 miles of hiking trails crisscrossing rocky hills and river-strewn caverns, you’ll find plenty of opportunities for memorable adventure. Despite its wondrous views, Pinnacles was named the 15th least- visited national park in 2023, with just over 340,000 annual visitors.
diamonds, amethysts, garnets, and quartz. The best part? Anything you find, you can keep! Seekers have found more than 35,000 diamonds at the park since it opened in 1972, and with some luck, you could add a few more to that tally! As Doug talks about in his article on p. 1, you can gamify 3 Dimensional Wealth values to make them more engaging. While out in nature, for example, help your family draw lessons from the prep and effort they put into a morning-long hike or the patience and tenacity they give to an afternoon of fishing. Wherever your summer takes you, you can make your vacation a Foundational Dimension builder! As noted, power walking isn’t just for the mature folks in the room. TikTok fitness influencer Stefana Avara says she got great results from power walking 30–45 minutes daily at a 15-minute mile pace (about 4 mph on a treadmill). In the past, she had built strong, bulky thighs playing lacrosse and claimed she wanted to smooth out her quads. After just five weeks of power walking, she attained slimmer thighs while maintaining excellent muscle tone. To get the most out of a power walk, keep your chin up and focus your eyes on a point about 10 feet ahead of you to lengthen your stride. Pull your abdomen muscles in toward your spine. Tighten your glutes to help propel you ahead. Follow these rules of good form and swing your arms while striding energetically ahead, Avara says, and you will get a workout worth doing! And we’ll add…it can strengthen your Foundational Dimension in ways that impact your overall Authentic Wealth!
HOW POWER WALKING BOOSTS YOUR FITNESS STRIDING TO SUCCESS
Looking to make strides in your Foundational Dimension health? According to the experts, everyone from Gen Z to Boomers should consider lacing up for a power walk. GET INTENTIONAL Power walking involves moving faster and with more intention than regular walking. You keep your arms bent at a 90-degree angle and pump them vigorously back and forth as you stride. Power walkers also move their feet smoothly from heel to toe while striding ahead. Doing this correctly engages your whole body, including your core muscles, raises your heart rate, and burns more calories. A brisk walk elevates fat-burning hormones. According to Health.com, an hour of power walking uses more than 500 calories,
compared with the 340 calories burned by a brisk walker and the 238 calories consumed by a casual stroller. Power walking is also easier on the joints than running. Power walkers’ feet never leave the ground at the same time, while runners’ feet repeatedly strike the ground with greater force. SERIOUS BENEFITS People who take frequent, vigorous walks reap almost as many health benefits as runners, according to a peer-reviewed 2013 study by researchers at Lawrence Berkeley National Laboratory and Hartford Hospital. Another study found that runners and vigorous walkers showed similar reductions in the risk of hypertension, diabetes mellitus, and coronary heart disease. Vigorous exercise also reduces such mental health problems as depression and anxiety, according to a 2006 study.
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WHAT THEY GET WRONG ABOUT IUL
Busting Another IUL Myth: Level Is the Devil
There are common misunderstandings surrounding Indexed Universal Life (IUL, or what we also call the IUL LASER Fund ) — even among financial professionals who don’t know what they don’t know about this superior insurance product. Since we’ve been helping clients take advantage of IUL’s tax-free growth, tax-free access to income, and income-tax-free transfer of wealth since the late 90s, people often come to us to clarify IUL misperceptions.
premium, which can limit the earning potential of the policy. For example, in a year where you might be lucky to earn 7% or 8%, you might net only around 2% or 3%. Now when is it wise to choose the level death benefit for a new policy? If you’re in your 50s, 60s, or beyond and you’re maximum funding your policy within about five years (in compliance with TAMRA), you definitely want to go with a level death benefit. This way you can become self-insured faster, with your cash value equaling or exceeding your death benefit sooner than later. It can keep costs down and give your policy the opportunity to provide access to tax-free income that lasts as long as you do, as well as leaving a death benefit that transfers income-tax-free to your heirs. If you haven’t already, we invite you to explore IUL’s advantages (and bust some myths yourself) by reading our best selling book, “The LASER Fund.” You deserve to understand how this financial vehicle can strengthen your family’s Financial Dimension for generations to come.
Here’s one of the big ones people repeat: Level is the devil.
LEVELING WITH YOU This is a misunderstanding often shared by financial professionals working with younger clients in their 30s and 40s, and they’re essentially saying: Choosing a level death benefit is always going to be the wrong strategy. But this just shows they don’t fully understand this complex issue. There are indeed times when choosing an increasing death benefit is prudent, but there are also times where it’s absolutely better to go with a level death benefit. To touch on the basics here: If you’re in your 30s or 40s putting away money each month in your policy (say $500 or $1,000), it’s often advantageous to choose an increasing death benefit. Once you stop making premium payments in your later years, however, it’s better to switch to a level death benefit. If you were to keep the increasing death benefit, you would likely end up with more insurance than you need, which puts the policy at risk of lapsing. These misinformed producers also often don’t understand that when the policy has an increasing death benefit, it’s critical to diversify and rebalance to enable it to earn more during market up years.
Learn more about empowering your financial future. Order your free copy of “The Laser Fund” book today.
GETTING OFF TARGET
Another misstep some producers make is they sell the IUL at target
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To help you stay abreast of market conditions, here we provide a monthly snapshot of trending indexes, as well as a resource to monitor your individual IUL performance.
BEGINNING INDEX VALUE
ENDING INDEX VALUE
INDEX CHANGE RATE
SAMPLE IUL RETURN
INDEX
S&P 500
4372.59 5431.60
24.22% 10%*
BNPP Global H Factor
232
247
6.47% 16.82%**
Maturity Dates: 6.15.23 - 6.15.24 * S&P 500 one-year point-to-point with a participation rate of 100% and a cap of 10%. **BNPP Global H Factor one-year point-to-point with a participation rate of 260% and no cap. HOW IS YOUR IUL LASER FUND PERFORMING? Scan the QR code to use our IUL Performance Calculator to see your unique IUL index returns. Get a quick look at other available indexes while you’re there!
To help you optimize your index strategies, here we offer index recommendations based on current market conditions. Consult with your IUL specialist for guidance in making any desired changes. Recommendations are not guarantees of future performance.
With the market where it is now, we’d recommend a diversified approach between a few of the index options your carrier offers, including those like the S&P 500 and some volatility control indexes.
More on the BNPP Global H Factor mentioned above: This index is different from the S&P; it’s a mixture of equities and bonds, and the allocation between those equities and bonds changes on a daily basis to target a volatility of 5%.
This allows the insurance company to offer an unlimited upside potential, as the options/hedging cost is much cheaper, empowering the carrier to have no cap on this index. It has a current participation rate around 260%.
NOTE: Volatility control index accounts don’t always perform as well as an index like the S&P, so it’s important to meet with your IUL specialist to decide how much you want to allocate to a volatility control index.
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3 DIMENSIONAL WEALTH LIVING
ALSO IN THIS ISSUE ...
Have You Been There Yet? page 5 Power Up Your Workouts page 5
Essentials for Creating Your Legacy of Authentic Wealth
IS YOUR FAMILY AT THE TOP OF THEIR GAME?
Do this one thing to make values come to life for your crew Read more on page 1 …
What Kind of Death Benefit Should You Choose? page 6 Can’t-Miss Market and Index Trends page 7
8 3DimensionalWealth.com
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