The Prosperity Podcast

Summary: Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel go through a case study involving a married couple where each is making $45,000 and the wife has a whole life insurance policy from her parents. Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode. Links in this Episode: Get the free ebook and audiobook - Financial Planning has FAILED Submit your questions hello@partners4prosperity.com Truth Concepts Calculators - http://truthconcepts.com Show Notes: 00:00 Introduction 00:28 Today's' topic: Case Study - Couple Earning $45k Each a Year with a Life Insurance Policy 02:28 Should she continue paying on a whole life policy? 03:34 Understanding what your real debt and payment terms are 05:33 Getting an inforce illustration from the policy 06:52 Why you can't compare cash value life insurance to the stock market 08:30 What is the death benefit? 09:30 Understanding the funding calculator 10:44 Explaining inforce illustration 11:58 Busting the Life Insurance Lies table G has a picture of the calculator

Summary: Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about a recent article that highlights the rise of digital currency and the growing trend of blockchain capital. Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode. Links in this Episode: Get the free ebook and audiobook - Financial Planning has FAILED Submit your questions hello@partners4prosperity.com Article - The Coming Abolition of Cash Show Notes: 00:00 Introduction 00:38 Today's topic - The Coming Abolition of Cash 02:33 Why the unbanked and underbanked are opening bank accounts 04:05 The disadvantages of going to a cashless society 05:12 Who's holding the large bills? 06:54 Demonetization, and the good that will come from it 09:18 Why the blockchain will transform how we vote, conduct business and transact 09:56 The fear of big brother becoming more involved in our lives 11:39 One of the good things that comes from more transparency is the bad guys can no longer hide 13:03 How much control do we want the government to have? 15:53 Be comfortable in a changing society

Summary: Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about a recent article from Peter Diamandis called: Are You an Exponential Entrepreneur? They cover the six mindsets every entrepreneur must master. Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode. Links in this Episode: Get the free ebook and audiobook - Financial Planning has FAILED Submit your questions hello@partners4prosperity.com Article by Peter Diamandis - Are You An Exponential Entrepreneur? Crowdfunding problem solving www.herox.com Show Notes: 00:00 Introduction 00:30 Today's topic: Are You an Exponential Entrepreneur? 03:27 Understanding how to make technology work for you 04:21 Even if you're on the right track you'll get run over if you're standing still 04:39 The 6 mindsets and tools every exponential entrepreneur needs to master 04:49 Mindset #1 - You Must Understand Exponentials 06:11 Mindset #2 - You See the World as Abundant (vs. Scarce) 08:45 Mindset #3 - You Leverage Exponential Technologies 09:51 Mindset #4 - You Have an MTP and a Moonshot 13:50 Mindset #5 - You Tap the Crowd for Expertise, Solutions & Capital 15:30 Mindset #6 - You Launch Your Vision, Experiment & Disrupt Yourself

Summary: Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about a recent article from AARP called The Bank of Mom and Dad. Together they discuss the different questions and scenarios when handling finances with adult children. Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode. Links in this Episode: Get the free ebook and audiobook - Financial Planning has FAILED Submit your questions hello@partners4prosperity.com AARP's article from January 2017 called The Bank of Mom and Dad Show Notes: 00:00 Introduction 00:29 Today's topic: AARP's article from January 2017 called The Bank of Mom and Dad 01:47 Question #1 - Will this investment add stability and security to my child's life or is it simply a good to have purchase or investment? 05:22 When helping children in their 30's and 40's it may be causing their children problems 05:47 Question #2 - Is this a short-term or one time cash need, or is it something that could drag on for years? 06:26 Question #3 - Is there risk in the investment beyond the cash outlay, such as financial liability on a contract or damage to your credit? 8:04 Question #4 - Can you lend or give this money without fear of damaging your relationship with your child or will it cause tensions or resentments for the people involved? 12:58 The AARP scenarios 13:32 Scenario #1 - Dead Car 14:41 Scenario #2 - Fairy Tale Wedding 16:37 Scenario #3 - Apartment Lease 18:03 Scenario #4 - Home Down Payment 21:35 Scenario #5 - Divorce Bailout 23:39 Scenario #6 - Business Loans 25:05 Scenario #7 - Graduate School

Summary: Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about how your cash value life insurance grows and how to get an accurate long term view by comparing it to bank rates. Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode. Links in this Episode: Get the free ebook and audiobook - Financial Planning has FAILED Submit your questions hello@partners4prosperity.com Kim's latest book Busting The Life Insurance Lies Quick read Live Your Life Insurance Free financial calculators at Truth Concepts Show Notes: 00:00 Introduction 00:28 Today's topic: Whole Life Insurance and How Your Cash Value Grows 01:06 The whole life cash value is the perfect emergency fund 02:36 Kim's newest book Busting The Life Insurance Lies talks about calculating internal rate of return on page 228 in the book 05:25 If you look at whole life companies website you'll see a gross dividend around 6% which is irrelevant because fees are not factored in 07:39 Your cash value should be looked at when viewed over time, not 5 to 7 years 09:00 The rule of thumb is cash value whole life insurance grows at 2-3 points above bank rates 10:05 What happens when interest rates come up on CD's? 10:46 When purchasing life insurance you're purchasing an asset 12:25 Books: Live Your Life Insurance and Busting The Life Insurance Lies to learn more 13:30 Financial calculators at Truth Concepts

Summary: Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel share different morning health habits that will help you live a more happy and prosperous life. Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode. Links in this Episode: Get the free ebook and audiobook - Financial Planning has FAILED Submit your questions hello@partners4prosperity.com Tim Ferriss's new book Tools of Titans Miracle Morning by Hal Elrod The Path to Wealth by May McCarthy The new coffee phenomenon Bulletproof Coffee Show Notes: 00:00 Introduction 00:31 Today's topic: Morning Health Habits 01:40 Tips in the book Tools of Titans by Tim Ferriss 02:39 Todd's advice is to live a life in balance 04:24 Kim shares the book Miracle Morning by Hal Elrod 05:32 Book: The Path to Wealth by May McCarthy 07:27 Todd's tip is to lay The Bible in the kitchen so you can do "Bible Nibbling" 08:18 Play the gratitude game while you're waiting and notch it up one by adding the spiritual or inspired aspect of the item 09:40 Get outside and enjoy the fresh air 11:11 Todd's advice is: ADIO - Healing comes from Above, Down, Inside your body and Out 12:38 Put fuel in your body every morning 13:28 Todd Langford uses Bulletproof Coffee and Protein 16:55 Drink enormous amounts of water especially first thing in the morning 17:17 Make sure you laugh at least 30 minutes a day to release healing chemicals

Summary: Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about the books they are currently reading and share insights on how to get the most out of reading and thinking more clearly. Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode. Links in this Episode: Get the free ebook and audiobook - Financial Planning has FAILED Submit your questions hello@partners4prosperity.com Books Kim and Todd are reading: Jump by Steve Harvey The Other Side of the Coin by Will Duffy The Noticer by Andy Andrews Success for Teens by John Fleming Essentialism by Greg McKeown The End of Average by Todd Rose Show Notes: 00:00 Introduction 00:31 Today's topic: Kim and Todd's favorite books 01:59 Why reading books help develop thought more thoroughly 03:27 Todd is reading Jump by Steve Harvey 05:04 Quick tip: Get the sample of the book on your kindle to see if you like it 05:43 Kim is reading The Other Side of the Coin by Will Duffy 10:35 Kim is also reading The Noticer by Andy Andrews 12:34 Another book Kim is reading Success for Teens by John Fleming 15:01 Kim is also reading Essentialism by Greg McKeown 15:52 The last book Kim mentions is The End of Average by Todd Rose 17:56 Book Giveaway: Financial Planning has FAILED get it at www.partners4prosperity.com/ebook

Summary: Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about auto financing and the advantages of buying vs leasing. They also share how to avoid the traps car dealers lay out when financing a car. Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode. Links in this Episode: Get the free ebook and audiobook - Financial Planning has FAILED Submit your questions hello@partners4prosperity.com Show Notes: 00:00 Introduction 00:34 Today's topic: Financing Your Vehicles 01:46 Different ways to reduce the amount of money you spend on cars 02:50 Understanding rebates and 0% financing 03:55 Why car dealers add the interest to the total price but call it 0% interest 05:11 How to get the true price of the car 07:31 A negotiation tip to get the best price 08:15 We want dealerships to be profitable but transparent 09:06 Deductions from leasing a car 10:59 How often should you trade vehicles and get new cars 12:12 Absolutely make sure you have high deductibles for lower premiums 12:50 When leasing a vehicle be careful about overage on your mileage 13:20 Accounting tip for your deductions

Summary: Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel answer a listener question and share strategies on creating family financial liquidity and decisions to make with college education. Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode. Links in this Episode: Get the free ebook and audiobook - Financial Planning has FAILED Submit your questions hello@partners4prosperity.com Live Your Life Insurance - ebook Busting The Life Insurance Lies - ebook Show Notes: 00:00 Introduction 00:33 Today's topic: Listener questions answered by Kim Butler 02:21 Case study: 45 year old couple with $80,000 annual income 04:05 It so important for families to have liquidity because it's flexible 06:44 When does it make sense to increase contributions to a 401k 10:05 What options you have when your child doesn't want to go to college 14:45 What to do when a 401k is not matched 16:32 Kim's favorite place to begin savings

Summary: In this episode your hosts Kim Butler and co-host No B.S. Money Guy Todd Strobel answer another listener question. They take on a case study of a 70 year old with $1.5 million in the stock market and talk about beating inflation. Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode. Links in this Episode: Get the free ebook and audiobook - Financial Planning has FAILED Submit your questions hello@partners4prosperity.com Show Notes: 00:00 Introduction 00:58 Today's topic: Case Study of a 70 Year Old With $1.5 Million In The Stock Market 02:42 Why the stock market isn't a good choice as your emergency opportunity liquid account, growth account or income account 03:52 First thing is to divide the money up and create an emergency opportunity fund 05:45 Strategy for passing money to the next generation without tax implications 07:23 Ideas for getting more monthly income 09:39 In this case study the number one long term problem is beating inflation 11:10 A million dollars is not a million dollar anymore 12:00 Longevity is another challenge because money didn't have to last as long when we died at age 65