The Prosperity Podcast

Summary: Today your hosts Kim Butler and No B.S. Money Guy Todd Strobel talk about the money myth of borrowing against life insurance without ever intending to pay it back. In this episode you'll see the power of life insurance loans and get an idea on how you could use this financial vehicle in your 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 Show Notes: 00:00 Introduction 00:28 Today's topic: The money myth of borrowing against a cash value life insurance policy without intending to pay it back. 01:59 How the strategy of not paying off cash value policies came about 04:27 What happened in 2008 that changed how we look at cash value policies 05:57 Why life insurance loans are so attractive 07:08 The shocking difference between taking a loan from a bank and borrowing against life insurance 09:18 Real Estate fix and flip case study example 10:49 How opportunity will seek you out if you have a position of cash 11:26 Should you overfund a life insurance policy if you have a lot of credit card debt? 14:04 Resources for more information about life insurance loans at www.partners4prosperity.com/ebook

Summary: With the negativity of news it feels like our current economic situation is all doom and gloom, but is it? In today's episode Kim Butler and No B.S. Money Guy Todd Strobel sit down and talk about the things we can control and the actions we can take. They dive into 401k options and even talk about food storage and growing food with heirloom seeds. 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 Website www.essentialseeds.us for heirloom seeds Show Notes: 00:00 Introduction 01:16 Today's topic: What can we control and what should we worry about? 01:49 You can control your thinking and actions which direct your finances 02:15 How to stop worrying about the stock market 02:50 Ask your 401k provider about an in-service withdrawal 03:55 Employment concerns in this current economy 04:47 How to make yourself more valuable in the marketplace 07:32 Tips Kim learned from Elon Musk's book 09:01 The advantages of reading books and listening to podcasts 10:53 Are you worried about the Federal Reserve? Here's what to do. 13:29 Listeners help: What ideas do you have about revitalizing a neighborhood for neighborhood food growing?

Summary: Your hosts Kim Butler and No B.S. Money Guy Todd Strobel talk about a case study of a 51 year old female who owns real estate, has some cash on hand and is making decisions on what to do with her money for the remainder or her 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 Show Notes: 00:00 Introduction 00:29 Today's topic is the Great American case study 01:42 Case Study of 51 year old female 03:15 To get a clear picture you need to determine your longevity and health 04:33 Determine your risk tolerance to get an idea of your rate of return 05:53 The #1 rule is we must protect principle 06:03 The #2 rule is we must grow investments higher than inflation 06:54 Tips so you don't erode principle 07:52 Specific recommendations for this American case study 09:09 Setting aside an emergency and opportunity fund 11:05 Taking $5,000 per year of the $50k fund and put it into a whole life policy 12:26 What to expect with the death benefits

Summary: In this episode Kim Butler and No B.S. Money Guy Todd Strobel sit down and talk about another financial myth that even affects some financial advisors. Kim and Todd share the 3 mistakes people make around the calculations of finances. 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: Grab your free ebook Busting the Interest Rate Lies for more details Submit your questions hello@partners4prosperity.com Show Notes: 00:00 Introduction 00:30 Today's topic is addressing the Financial Myth - Finding Miscalculations 02:09 The 3 mistakes people make around the calculations of finances 02:34 Mistake #1 - Trying to Make Financial Calculations with a Traditional Calculator 03:39 Look for additional calculator functions that provide future value, present value, time, rate and payment 07:17 Mistake #2 - Time Value of Money 07:42 Anytime you have dollars doing anything greater than one day's work you have a time value issue 09:14 Time value of money is essentially applying an interest rate to your calculation 10:43 For more information on how this works look at the ebook: Busting the Interest Rate Lies 10:51 Mistake #3 - Misunderstanding and Misstating Timeframes

In this episode Kim Butler and No B.S. Money Guy Todd Strobel sit down and talk about another financial myth that even affects some financial advisors. Kim and Todd share the 3 mistakes people make around the calculations of finances. 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.

Today's episode comes from a listener question where Kim Butler and No B.S. Money Guy Todd Strobel sit down and address the topic of life settlements. They share some of the confusing terms and address common questions. 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.

In this episode Kim Butler and No B.S. Money Guy Todd Strobel sit down and talk about building a team of trusted advisors that can manage your financial affairs. This topic conversation comes from a recent issue in the AARP magazine. 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.

Kim Butler and no B.S. money guy Todd Strobel sit down and talk about the money myths that float around in the financial world and one of those biggest myths is that the government wants to build people's wealth. Anyone with a 401k will hear about the government's true objective and see the potential risk on the horizon. Tune in to find out how to take control of your finances today. If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us!

Summary: Best-selling author Kim Butler and No BS money guy Todd Strobel talk about money myths in particular whether or not it is a good idea to "self-insure" if you have enough money. Kim asks why it is that insurance companies provide more for you if you have more wealth, when society thinks you should have less? And finally Kim and Todd discuss the difference between gross and net worth insurance coverage. Tune in to find out how to take control of your finances today. If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us! 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 00:43 2 questions: can you self-insure? And should you self-insure? 02:35 Life insurance is not necessary. Especially if you have built up enough assets 06:34 Kim asks why is it that insurance companies will provide more if you have more wealth, yet our society thinks you should have less? 08:36 Life insurance runs things completely different from any other insurance-- it's need-based 08:58 Gross worth vs Net Worth insurance coverage 09:39 The answers to if you should self-insure, and can you? 12:15 The income tax free benefits of life insurance

Summary: Best-selling author Kim Butler and no B.S. money guy Todd Sterobel talk about how to convert a traditional IRA to a Roth IRA. They discuss the Who, Why, and How to convert. They also talk about certain situations in which converting to a Roth IRA would not be beneficial. There are several advantages of converting to a Roth IRA that Kim and Todd discuss in detailed, yet simple and clear terms. Tune in to find out how to take control of your finances today. If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us! 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 01:02 There is no income requirement for converting a traditional IRA over to a Roth IRA 01:26 Kim answers the how, why, and who the Roth IRA is a good strategy for 01:56 The Who: converting can be beneficial if you have the dollars to pay the tax that are going to be due 03:06 Converting is good for people who believe that taxes are going up, that want to access the Roth IRA tax laws, and have extra cash sitting around 03:47 Yes, you can do a partial conversion 04:38 If Hillary Clinton's plan goes through all loopholes may be cut so this might be your only time to convert to a Roth IRA 05:02 People are believing that taxes are going to go up-- it would be beneficial to go ahead and pay the taxes now and put those tax dollars into a Roth IRA and you would not pay taxes on it in the future 06:13 The Why: You have enough dollars TODAY that you are willing to pay the tax with. You may want to even take a lower income this year and convert to the Roth IRA and because you are in a lower tax bracket, you pay lower taxes on the IRA conversion 07:19 Todd makes a point that those parents sending their kids off to college and trying to receive financial aid, may NOT want to convert to a Roth IRA as having that extra income could affect that negatively 07:47 Kim talks about the advantages of the Roth IRA-- it's like the old adage: Roth IRA law is like paying taxes on the seed, and not on the harvest 08:42 One of the differences between a traditional IRA and Roth IRA is that a traditional IRA pays taxes at distribution, whereas a Roth IRA does not 08:59 The How: There's 2 ways-- 1. A simple conversion just requires paperwork 2. Get a discount for that conversion in other words, get taxed on a lesser dollar amount 11:12 There are no penalties for converting to a Roth IRA 12:41 Special email for podcast listeners only is: hello@partners4prosperity.com get the ebook at partners4prosperity.com/ebook audio version available also