The Prosperity Podcast

Summary: In this fun and resourceful episode Kim Butler and no B.S. money guy Todd Strobel sit down and talk about the mental nutrition and routines we have in our lives for consuming information and sharpening our minds. Together they share some of their favorite news sites, books, podcasts and much more. 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 00:28 Today's topic - Your News Diet and Your Mental Nutrition 02:27 How Kim gets news and information 04:05 The bulk of news is negative news 05:20 Be very careful of how you feed your brain 05:35 Kim's first pick is Christian Science Monitor 06:07 Todd's first pick is Audible.com 07:40 The podcast The Kind World Podcast 09:27 Positive and uplifting news The Good News Network 10:27 AARP.org inspiring stories for baby boomers 11:23 GrowingBolder.com hope and inspiration 12:55 Book Disrupt Aging by Jo Ann Jenkins 14:20 Book Quiet by Susan Cain 14:41 Share your favorite books and resources with us at hello@partners4prosperity.com 15:17 Audiobook Learning How to Avoid the Gap by Dan Sullivan

Summary: Can employing your kids be a tax advantage? In this episode Kim Butler and no B.S. money guy Todd Strobel sit down and talk about how employing children can offer several tax benefits and teach them the value of money. Children can do menial or low-skilled work and get compensated and you can benefit with tax breaks. For you to implement this in your financial strategy you will want to consult with your CPA or advisor and follow the guidelines presented by the IRS 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 00:29 Today's topic: Taxes; and how to lower your tax bill 01:16 If tax money could be put back into your business, where would it do the most good? 01:54 Kim Butler: firm believer in paying someone else to do the work 02:32 Employ your kids so they learn the value of work and money (check with your CPA first) 3:45 Getting your kids to help work in your business may help solve family dynamics if they have their own money 4:14 Todd's idea: using your kid's pictures in marketing 5:34 Talks about teens having their own money, learn how to make their dollar stretch 6:39 Kim's ideas on what work kids and teens can do and in turn make them more independent financially 8:03 It's a win-win from a business point of view, child's point of view, and parent's point of view, and job market point of view 9:18 Make sure you stay in line with the law when employing children 10:20 Send in questions or comments

Summary: Most market expectations are based on information from the past. That alone won't cut it anymore since we live in an economy that advances by nanoseconds with bots and bytes of information. In this episode Kim Butler and no B.S. money guy Todd Strobel sit down and talk about rearview mirror investing and share one of the key principles of prosperity. 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 00:29 Today's topic: Rearview Mirror Investing 00:56 "Pilots don't use rearview mirrors" famous quote by Joel Weldon 01:47 Investing and trading happens in millionths of a second 02:58 Why the stock market did so well over the last 20 years 04:00 Why do you think we are so hung up on history as it relates to our investments? 04:21 Focus on what you can control 05:00 If you cannot control a particular marketplace you have no business investing in that company in the stock market 05:24 The reasons why Warren Buffett and Donald Trump win in the market 07:10 The 401k and baby boomers have completely changed the marketplace 10:09 The distinct difference between an asset that is growth oriented and an asset that is income oriented 10:41 Start your knowledge about the new economy in this free ebook Financial Planning has FAILED 12:50 Ask a question for the podcast hello@partners4prosperity.com

Summary: If you have money tied up in a 401k, 403b or a 529 plan then you will be shocked to hear about the regulations and restrictions placed on your money. Kim Butler and no B.S. money guy Todd Strobel sit down and talk about the important prosperity values of maintaining control and simplicity. 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 ebook - Financial Planning has FAILED Show Notes: 01:25 Talking about 401k, 403b and 529 plans 03:23 Giving up control is a major prosperity violation 04:20 Savings should be a guarantee and not fluctuate 04:47 Every 529 plan has the amount of money put in and the growth has been destroyed 06:18 Sometimes it's worth paying the penalty for the freedom of your money 06:50 What do you think the government's goal is? 10:34 Control and simplicity are important things to seek out in your investments 12:47 Your money needs to do 3 these three things

Summary: Should you get a conventional mortgage or a jumbo loan? In this episode Kim Butler and no B.S. money guy Todd Strobel sit down and talk about the advantages of a 30 year mortgage and see numerically what makes sense in the long run. 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: Financial Planning Has Failed Ebook Busting Interest Rate Lies Show Notes: 00:00 Intro 00:51 What Are Jumbo Loans & Are They Actually Bad? 01:15 What Do You Need to Know About Jumbo Loans? 04:11 Is It Worth it to Pay the PMI or Should You Put 20% Down? 07:07 Jumbo Rate vs. Conventional Rate Mortgage 12:45 Proving Numerically that a 30 Year Mortgage is More Efficient 13:41 Should You Work Toward Refinancing? 15:36 Should You Keep Your Equity in Your House? 18:18 Outro

Summary: Retirement planning is huge in the financial industry! But is it actually a good idea? Today our hosts, best selling author Kim Butler and no B.S. money guy Todd Strobel sit down to talk about the idea of "planning your retirement" and why you should avoid it all costs. They discuss the harms of trying to plan your financial future, and the alternatives to financial planning that provide the most financial security and return. 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: Financial Planning Has Failed Ebook Busting Interest Rate Lies Show Notes: 00:00 Intro 00:42 Discussing the Concept of Retirement 03:02 What's Wrong With "Planning" Retirement 06:44 What Can You Do Instead of Retirement? 08:51 How Crucial It Is to Save 09:50 Resources 10:39 Why Financial Decisions Should Be Simple & Made By You 11:41 Outro

Summary: What's so great about compound interest? Our hosts Kim Butler and Todd Strobel think not as much as you think. For today's podcast, we sit down to discuss more financial planning industry lies - this time lies about compound interest. They talk about the importance of opportunity cost, how compounding is making problems worse, and how to be smart with your taxes and investments. 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: Financial Planning Has Failed Ebook Busting Interest Rate Lies Dalbar Show Notes: 00:00 Intro 00:54 Lies that the Financial Planning Industry Promotes 01:07 What's So Great About Compound Interest? 02:53 The Importance of Opportunity Cost 05:51 Compounding is Making the Problem Worse 09:56 Being Smart With Taxes & Investments 13:00 Different Types of Investment & Savings Vehicles 15:06 Outro

Summary: Today our hosts, best selling author Kim Butler and No B.S. money guy Todd Strobel continue to talk about lies and myths within the financial planning industry! They discuss the fallacy of the "average" rate of return, and explain why no one actually receives this amount. They also talk about the difference between savings, investments...and gambling. Tune in to find out how to take control of your money 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: Financial Planning Has Failed Ebook Busting Interest Rate Lies Dalbar Show Notes: 00:00 Intro 00:38 More Financial Planning Myths & Lies 00:48 An Average Rate of Return Versus An Actual Return 04:12 Why You Should Never Store Wealth on the Stock Market 05:32 Why Do People Think Stocks are the Only Investment? 09:13 Why a Higher Rate of Risk Does Not Produce a Higher Rate of Return 11:06 What Else Can You Invest in Other Than Stocks? 13:15 Resources 15:03 Outro

Summary: Should you be prepaying your mortgage or getting a 15 year mortgage instead of a 30 year mortgage? Today our hosts best selling author Kim Butler and co-host Todd Strobel sit down to tackle one of the most pervasive lies in the financial industry: you should be trying to pay down your house as soon as possible. They talk about the flaws that home equity has as an asset, alternative places to store your money, and the value of peace of mind. 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: Financial Planning Has Failed Ebook Busting Interest Rate Lies Show Notes: 00:00 Intro 00:44 Prepaying Your Mortgage & 15 Year Vs. 30 Year Mortgages 01:41 Why Prepaying Your Mortgage is Not the Answer 02:30 Why Home Equity May Not Be the Right Asset for You: The CLUE Test 06:27 What About Interest? 08:24 Busting the Interest Rate Lies 09:39 The Times When Peace of Mind Overrides the Financial Decision 10:32 How to Compare a 30 Year to a 15 Year Mortgage 14:32 What is a "Run Rate" 15:39 Resources 16:34 Outro

Summary: Today our hosts, No B.S. money guy Todd Stroble and best-selling author Kim Butler talk about the financial planning lie of "buying term and investing difference", why this concept is fallacious and what some good alternatives are. Tune in to find out how to take control of your money 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: Financial Planning Has Failed Ebook CreateSpace Show Notes: 00:00 Intro 00:24 Addressing More Financial Planning Lies 00:32 Buying Term & "Investing the Difference" 02:11 What is the Most Profitable Product to the Life Insurance Agent and Company? 06:01 Why Whole Life Insurance is Better for the Client than Term Insurance 07:32 99.5% of Life Insurance Premiums Never Pay a Death Benefit 11:24 Using Insurance As a Savings Equivalent 11:37 Why Not all Term Policies Are Equal 14:45 Resources for Listeners 16:39 Outro