NoBS Wealth
Welcome to the NoBS Wealth Podcast—where we ditch the BS, cut through the noise, and get real about what it takes to build wealth, especially for women, minority business owners, and those standing on the edge of their financial journey, ready to take that first bold step.
We’re not here to sugarcoat it. I’m Stoy Hall, your host and Certified Financial Planner, and I’m bringing you conversations that go beyond the spreadsheets. We're talking about the emotional, psychological, and real-life challenges of money—and how to crush them.
Why You Should Tune In:
- No Fluff. Just Actionable Advice: You don’t have time for complicated, jargon-filled nonsense, and I don’t have the patience to give it to you. Here, we’re breaking down strategies you can actually use—whether you're managing cash flow in your business or figuring out how to start investing without feeling overwhelmed.
- Your Money, Your Mindset: If you think the key to wealth is just about saving and investing, you’re missing half the game. We’ll tackle the inner work—overcoming financial fear, breaking generational money cycles, and adopting a winning mindset to keep you in the game long-term.
- Real Stories You’ll Relate To: We’re bringing on guests with stories like yours. Women and minority business owners who’ve been where you are, taken the risks, and come out on top. No “overnight success” garbage—just honest journeys filled with ups, downs, and everything in between.
Who This Podcast Is For:
If you’ve ever thought:
- “I want to build wealth, but I don’t know where to start.”
- “I’m ready to grow my business, but I need guidance on the financial side.”
- “I don’t come from money, and it feels like I’m playing catch-up.”
Then congratulations—you’re exactly who this podcast was designed for.
What You’ll Get Out of It:
- Breaking the Fear: We’ll help you face that first step head-on and show you that building wealth isn’t just for the rich or privileged—it’s for you.
- Alternative Wealth Strategies: From real estate to investing in your business, we’ll explore nontraditional ways to grow your money without drowning in “just invest in the S&P 500” advice.
- Practical Tools: Whether it’s tax hacks, cash flow management, or scaling your business, we give you the tools to act, not just dream.
It’s time to bet on yourself. Tune in, get inspired, and most importantly—take action. The life you want? It’s within reach.
Visit nobswealth.com to catch our latest episodes and join the NoBS movement.
And yeah, we get a little explicit around here. You’ve been warned.
NoBS Wealth
Why You NEED Life Insurance in 2025 | Let's Get Real Ep. 16
GET YOUR SHIT TOGETHER WITH LIFE INSURANCE
Ever feel like those insurance salesmen are just vultures picking at your wallet? I used to BE one of those guys - and yeah, it was sleazy as hell.
But here's the raw truth: you NEED life insurance, and you're bullshitting yourself with every excuse not to get it.
In this no-holds-barred episode, I'm calling out every weak excuse:
- "I'm too young" - Bullshit. It's CHEAPER when you're young.
- "I don't have anyone to leave it to" - You don't know what the future holds.
- "I'm too broke/too rich" - Neither is true.
For my Black and Brown families especially - this isn't just protection, it's our shot at building GENERATIONAL WEALTH.
Why are we dropping $350 on Jordans but hoping a GoFundMe goes viral enough to bury our loved ones?
Term, whole life, universal - I break down the options without the sales pitch. The ultra-wealthy use these tools for tax strategies and income - not just death benefits.
Get off your ass and secure your family's future. Real wealth starts with real protection.
Watch the full episode: https://youtu.be/9GpdtAyTg0o
For more unfiltered financial truth, visit nobswealth.com
Welcome to the No BS Wealth Podcast with Stoy Hall, your candid guide to financial clarity. In our third year, we're spicing things up by enhancing community ties and bringing you straight, no-fluff financial insights. Connect with us on NoBSWealthPodcast.com, and follow Stoy on social media for the latest episodes and expert discussions. Tune in, join the conversation, and transform your financial journey with us—no BS!
As always we ask you to comment, DM, whatever it takes to have a conversation to help you take the next step in your journey, reach out on any platform!
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DISCLOSURE: Awards and rankings by third parties are not indicative of future performance or client investment success. Past performance does not guarantee future results. All investment strategies carry profit/loss potential and cannot eliminate investment risks. Information discussed may not reflect current positions/recommendations. While believed accurate, Black Mammoth does not guarantee information accuracy. This broadcast is not a solicitation for securities transactions or personalized investment advice. Tax/estate planning information is general - consult professionals for specific situations. Full disclosures at www.blackmammoth.com.
It's time to get real with you guys. I should probably pour a drink for this one. We're gonna talk about life insurance today. Yep. You heard me. Life insurance. I used to be in life insurance game myself. That's how I started my career. And guess what? It was sleazy. It felt salesy and it didn't feel good. Ultimately. I still think we did what's good for people, but life insurance is vitally important. It just isn't the everything that needs to be done. Many of you have had probably many of agents. Whether it's on LinkedIn or Facebook or your friends or family, someone at some point has tried to sell you life insurance and that was the only thing that they talked about. Life insurance. Life insurance. Life insurance. Well, I get it. It's one of the most important things that I think we should have, one of the best tools we have. However, there's proper ways. To do it. So let's discuss those one misnomers, or I guess falsities that people talk about. I'm too young to have life insurance. Bullshit. You're not too young. One, when you're young, it's cheaper, right? I mean, it's like$20 a month,$10 a month for a million dollars or whatever it is in term. So let's start young. It's a lot cheaper to lock that in. Plus you never know what's gonna happen when you get older. If you have life insurance and you're locked in. I get cancer, still get life insurance. Five. Cancer, probably can't get underwritten for life insurance anymore. So you gotta think through those when you're young. Second thing is, I don't have anything to leave to anybody. I have no charity, I don't care. I don't have kids, blah, blah, blah. Cool, that's awesome. But you just don't know that all the way up through your life. So I try to make that decision. Now what if you do wanna leave it at a charity? Favorite sports team, your alma mater? Hell, who knows your own local police department. I don't give a shit where. But you can't make that decision now because you just don't know. So why not have that protection built in ability to give out to others? And the third, which I think is kind of something that people think about or need to think about more is I don't have a need for it because I either don't have enough. Assets or I have too much money. Ha. Oh, that's hilarious. Um, both of those are falsities as well. Okay. Just'cause you don't have assets doesn't mean you can't protect anything. And for a lot of our black and brown families, well shit, any lower income person as well, uh, whether that's lower class or middle, low class shit, most middle class. This is our way to trying to build our legacy when it comes to wealth. Right. We're not billionaires. We're not a hundred millionaires. We don't have that ability to just give generational wealth, um, down and pass that down the proper way. We do have it is life insurance. So think about that the next time. Someone wants to sell you life insurance. Granted, there are a lot of different life insurance products. There's the three main ones. You've got your term insurance, which yeah, it's like renting. You're just gonna have it for a period of a term, 10, 15, 20, 30, whatever. You've got whole life, but yet you got for your entire life, it's a fixed account. And then you have your universal life, whether that's an IUL index, universal or a variable VUL. Either way. Starting with one of those is gonna be awesome. The best one, in my opinion is term, but, but stoy, listen, I've heard it all. I've been through it. I've heard every excuse and I've seen a lot of different strategies to build into those. Do you know that the ultra wealthy don't use it necessarily for obviously generational wealth purposes? They do it to provide. Uh, tax free income to pay their tax bill because they have so much money. They do it as a proper way to fund trusts. They do it as a proper way to create different types of income as well. Yes, it's not necessarily an investment, but it can be used in that perspective and provide income. So there's more than just you dying. To get the life insurance hell, long-term care writers involved with those. There are a plethora of different ways to use life insurance throughout your life that is not just always tied to you dying or not tied to, Hey, I have a strategy in in general. Yeah, there are tax strategies around it. There are other wealth building strategies that you need to be aware of, but just saying no or cutting it out of your budget, it's only gonna hurt you because guess what? You're probably cutting it out for. Some other bullshit, right? So why are we lower income, black and brown families, et cetera. Going out and buying a$350 pair of Jordans and just hoping. That when someone of us dies, our GoFundMe can go viral enough to bring us some type of amount to at least bury somebody, let alone something else. What are we doing here? So sto, what the hell can I do? What are some steps for me? By the way, this is the new segment, so you should like this. What the hell should I do? Stoy? Well, one, buy term insurance. Let's start there. As much term insurance as your budget can allow. A million, 2,000,500, 200,000. I don't give a shit. Just 20 bucks, 50 bucks. Whatever your budget can handle, get some term insurance. Second, build an actual strategy for your wealth and tie your life insurance into all of that. Third, review that periodically, preferably with your financial planner once a year. Just a selfish plug there. Uh, number four, grow it as you grow. Maybe that's converting some of it to permanent over time. Maybe that's adding more down the line. But your strategy will help you do that, but you need to a, a test for that later. And those two and those four actionable steps are things that you can do today. Right now, there's a lot of programs out there that you don't have to go get your needle stuck in your vein. Uh, you could get pretty quick underwriting done. Help reach out to me, reach out to anyone else on the resources, but you just gotta do it. So that's what you could do. Those are actionable steps. Bang, what happens if you die? How are your loved ones gonna feel? I personally know it when my mother died and she had life insurance, that it allowed us to get out some of the debt that we were in, but also get ahead because we were able to invest down the line. And now that amount of money's gonna grow 2, 3, 4, 5 x over the next 10, 15 years. And then the life insurance that we have is gonna double that down. I'm gonna be able to start generational wealth for my family for the first time ever. And it's all due to life insurance. Get off your asses and get some fucking life insurance. Jesus Christ.
