The Prosperity Podcast

Estate planning, what is it and how to address it... Kim and Spencer talk about this important topic and the estate planning mistakes to avoid, how to get better prepared for it, and manage an individual's asset base. How can you prepare now for the future? Listen to this episode so you’ll know what to do, and just as importantly, what not to do. Best-selling author Kim Butler and Spencer Shaw show you how to take control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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 and Resources from this Episode For resources and additional information on this episode go to http://partners4prosperity.com/category/podcast http://nnepa.com  Book Kim mentioned: https://www.amazon.com/Click-Here-When-Die-Making-ebook/dp/B071ZQ2WWC   Show Notes Estate Planning: too big, too much, too challenging - 0:31 On Estate Planning you are going to do the work - 0:52 The difference between doing the work now and doing the work later - 1:23 Kim's story about her mom and grandmother - 1:55 Doing the work "now" - 2:20 Should I have a Revocable Living Trust? - 4:10 Paying an attorney to settle estate planning - 5:27 Procrastination equals more money and paperwork - 6:02 Repercussions - 8:00 Kim's recommendation: consider a revocable living trust - 10:10 Rick Randall's website: National Estate Planning Attorneys - 10:55 What Kim likes of Rick's work - 11:49 Special Listener Gift Free eBook: Financial Planning Has Failed  Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!  Review and Subscribe If you like what you hear please leave a review by clicking here Subscribe on your favorite podcast player to get the latest episodes. iTunes Stitcher RSS

Creating wealth for legacies, is the topic of today's episode, so join us as we listen to Kim and Spencer dive into a useful tool that they consider valuable for the pursuit of your goals: The Perpetual Wealth Book, so don't miss this opportunity to get one step closer to your desired objectives. Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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 and Resources from this Episode For resources and additional information of this episode go to http://partners4prosperity.com/category/podcast  https://partners4prosperity.com/perpetual-wealth-book/   Show Notes The Book as a tool - 0:31 Build, maintain and transfer wealth - 0:56 Family Banking - 1:50 The Perpetual Wealth Book - 2:41 The value of the death benefit - 2:55 A snapshot of the book - 3:12 The concept of maintaining - 4:09 Inflation is the number one enemy - 5:11 Transferring wealth - 6:50 Transferring values - 7:55 Winning the long game of wealth - 8:34 Savings as an important habit - 9:14 How to get the Perpetual Wealth book - 9:46 Special Listener Gift Free eBook: Financial Planning Has Failed  Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!  Review and Subscribe If you like what you hear please leave a review by clicking here Subscribe on your favorite podcast player to get the latest episodes. iTunes Stitcher RSS

What's the biggest missing piece in personal finance? Well, if you want to know, you should tune in to today's podcast because Kim and Spencer dive into the subject of opportunity cost and why understanding it may be the difference between success and failure. Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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 and Resources from this Episode For resources and additional information of this episode go to http://partners4prosperity.com/category/podcast  https://truthconcepts.com/   Show Notes Opportunity Cost - 0:30 Todd Langford's calculator - 1:49 Kim's story of the opportunity cost - 2:34 Understanding the opportunity cost term with an example - 3:36 When Spencer learned about opportunity cost - 4:42 Opportunity cost around mortgages - 6:34 The Truth Concepts website - 9:07 Todd's youtube channel - 9:36 Special Listener Gift Free eBook: Financial Planning Has Failed  Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!  Review and Subscribe If you like what you hear please leave a review by clicking here Subscribe on your favorite podcast player to get the latest episodes. iTunes Stitcher RSS

A potentially life-changing approach to debt payment, Dave Ramsey's "snowball method" will be the topic of discussion today, as Kim goes into detail as to how paying off bills in order of smallest to largest, regardless of the interest rate,  may prove beneficial for you.  Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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 and Resources from this Episode For resources and additional information of this episode go to http://partners4prosperity.com/category/podcast  https://www.daveramsey.com/blog/get-out-of-debt-with-the-debt-snowball-plan https://www.udacity.com/ Show Notes The Dave Ramsey Snowball method- 0:53 Paying your debts - 1:00 What happens if you do not use your credit card? - 1:46 Building up savings - 2:49 Solving future problems - 3:03 Having money in a savings account - 3:32 Your bills in auto pay - 4:14 The "Perpetual Wealth" book - 6:06 How to build wealth - 6:41 Benchmarks of the Emergency Fund - 7:47 Savings is the foundation - 9:28 Building your opportunity fund - 10:24 Principles that are applicable for so many things - 11:29 Finding ways to earn extra money - 12:23 Make personal finance your focus - 13:30 Talking about Udacity.com - 14:28 The Prosperity Snowball - 15:30 Special Listener Gift Free eBook: Financial Planning Has Failed  Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!  Review and Subscribe If you like what you hear please leave a review by clicking here Subscribe on your favorite podcast player to get the latest episodes. iTunes Stitcher RSS

The Endowment Effect, is perhaps something that you've never heard about, but stay tuned and you'll learn the importance of having a grasp over the concept, as Kim and Spencer discuss this surprisingly interesting topic through their emblematic intellectual wisdom. Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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 and Resources from this Episode For resources and additional information of this episode go to http://partners4prosperity.com/category/podcast  Show Notes Financial terms - 0:32 Understanding the theory - 1:06 The endowment effect - 2:02 A negative aspect of the endowment effect - 3:20 Understanding the concept through an example - 5:11 Misunderstanding the Whole Life Insurance - 7:18 A place to store cash - 8:40 The importance of the word "save" - 9:35 The act of savings save families - 10:04 The cash opportunity  - 11:41 Get in touch with Kim - 12:33 Special Listener Gift Free eBook: Financial Planning Has Failed  Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!  Review and Subscribe If you like what you hear please leave a review by clicking here Subscribe on your favorite podcast player to get the latest episodes. iTunes Stitcher RSS

What is your unique ability? How can you use in your personal finances? Learn the answers to these questions and more on today's Prosperity Podcast as Kim and Spencer discuss the implications of this term. Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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 and Resources from this Episode For resources and additional information of this episode go to http://partners4prosperity.com/category/podcast  http://www.kolbe.com/ https://www.amazon.com/Busting-Real-Estate-Investing-Lies/dp/1544504233 Show Notes The term unique ability - 0:29 Unique areas of expertise - 1:15 Your unique ability has been with you forever - 2:13 The Kolbe profile - 3:21 Having self-knowledge - 3:58 Maximizing your unique abilities - 4:48 Kim shares an example of her unique ability and Todd's unique ability - 6:00  Follow what you love - 9:10 The first investment is ourselves - 10:14 The importance of knowing your unique ability - 11:20 Special Listener Gift Free eBook: Financial Planning Has Failed  Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!  Review and Subscribe If you like what you hear please leave a review by clicking here Subscribe on your favorite podcast player to get the latest episodes. iTunes Stitcher RSS

Learn how to overcome the hardest moments in life with Kim and Spencer as they discuss the subject of preparing for a disaster or hardship while also giving us specific tips and recommendations that we may find useful. Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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 and Resources from this Episode For resources and additional information of this episode go to http://partners4prosperity.com/category/podcast https://www.funeralocity.com/   Show Notes Preparing for a disaster - 0:30 What happens during a storm? - 1:33 Tips to prepare for a disaster - 1:55 Water, light, and food - 3:46 What to do when a disaster is happening? - 5:03 Having cash on hand - 5:57 The importance of having a family plan - 6:31 Finding solutions and help - 8:10 Being prepared - 11:20 Deciding what you want to do  - 12:26 Special Listener Gift Free eBook: Financial Planning Has Failed  Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!  Review and Subscribe If you like what you hear please leave a review by clicking here Subscribe on your favorite podcast player to get the latest episodes. iTunes Stitcher RSS

Knowing when to take the next step can be critical when getting another policy. Kim and Spencer discuss when it makes sense to get another policy. Listen to Kim’s financial wisdom and experience, and enjoy the podcast! Best-selling author Kim Butler and Spencer Shaw teach you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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 and Resources from this Episode For resources and additional information on this episode go to http://partners4prosperity.com/category/podcast  Show Notes The best place to store cash - 0:32 What to do after 2-3 years after buying your first policy - 1:05 Psychological triggers - 2:19 Immediate results - 3:37 The savings habit - 4:38 Thinking about a second policy - 6:20 Term insurance vs whole life insurance - 7:31 Starting a policy on a child - 8:04 What is convertible term insurance? - 9:17 A convertible policy to whole life policy - 10:20 Understanding your cash flow to get another policy - 11:11 Special Listener Gift Free eBook: Financial Planning Has Failed  Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!  Review and Subscribe If you like what you hear please leave a review by clicking here Subscribe on your favorite podcast player to get the latest episodes. iTunes Stitcher RSS

The Principle of Control is one of the Seven Principles of Prosperity Economics and on today's podcast, Kim and Spencer expose how millennials apply this principle in their financial decisions and help us shift the way we think about this concept, so sit back, relax and enjoy. Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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 and Resources from this Episode For resources and additional information of this episode go to http://partners4prosperity.com/category/podcast Show Notes Control as a principle of prosperity - 0:44 Understanding the other principles - 1:16 Kim talks about "typical financial planning" - 2:47 Using the word "traditional" - 2:58 Traditional financial planning - 3:29 Helping millennials have more control - 4:10 The most important principle - 4:59 Things that we can control - 6:16 Using the seven principles of prosperity - 7:00 Control and self-directed IRA - 8:36 Implementing control and changing your strategy - 11:42 Seeking the right education  - 13:25 Special Listener Gift Free eBook: Financial Planning Has Failed Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead! Review and Subscribe If you like what you hear please leave a review by clicking here Subscribe on your favorite podcast player to get the latest episodes. iTunes Stitcher RSS

Today Kim and Spencer talk about the home equity line and how this is going to affect your finances. They also discuss whether it is something that you should be doing or not, stay tuned and learn from them! Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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 and Resources from this Episode For resources and additional information of this episode go to http://partners4prosperity.com/category/podcast Show Notes Using Home Equity Credit Line - 0:34 Using the home equity credit line to pay your mortgage - 1:22 The Truth Concepts Software and Todd Langford - 2:19 Focusing on reducing your debt - 3:54 Refining your mortgage - 4:22 Talking about extra payments as a problem - 5:18 Running your life through the home equity credit line - 6:33 How to use Life Insurance as a better vehicle - 8:52 Not thinking with a prosperous mindset - 9:50 Building equity in your home is not a good strategy - 10:11 Building equity with a whole life insurance policy - 10:45 A smart plan: having a Life Insurance Policy - 12:30 Always using the Seven Principles of Prosperity - 13:47 Special Listener Gift Free eBook: Financial Planning Has Failed Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead! Review and Subscribe If you like what you hear please leave a review by clicking here Subscribe on your favorite podcast player to get the latest episodes. iTunes Stitcher RSS