The Prosperity Podcast

In the debate over what kind of financial advisor you should (and shouldn’t) take advice from, it is clear where best-selling financial author Kim Butler and “No B.S. Money Guy” Todd Strobel stand. In this podcast they discuss the differences between advisors who operate from a Fiduciary standard and those who work from a Suitability standard. Kim stresses the value of the focus a fiduciary advisor will place on their client, contrasted with the focus the advisor will put on themselves. Whose best interests take priority? Todd summarizes the episode’s theme in one poignant comment. He encourages buyers to listen for two different sentences when meeting with their advisors. If they say, “I am required to say if the recommendations I make are good or bad for you,” their focus is on not on you. If they say, “I am required to say if the recommendations I make are the best for you,” your success is the first point on their agenda. The two leave the podcast with a few words regarding the value of Prosperity Economicsand ways that those listening can hear more about it. 0:00 Intro 0:18 Welcome 0:32 Fiduciary vs. Suitability Standard 1:21 Advisor working from a fiduciary standard definition 1:51 Advisor working from a Suitability standard definition 4:40 Good or bad for you vs. best for you 5:19 License differences 6:05 Assets under management 7:00 Investment fees separate from advice fees 9:56 Qualifications for making a decision on a specific investment advisor 12:00 Prosperity Economics vs. typical financial planning. 13:58 List of Kim D. H. Butlers books on Prosperity Economics. 15:14 Wrap up

Today’s episode of The Prosperity Podcast continues the debate over whole life insurance vs. term life insurance. Best selling financial author, Kim D. H. Butler and “No B.S. Money Guy,” Todd Strobel pick up where they left off previously, discussing comments sent in by a reader in support of term insurance vs. whole life insurance. The arguments and responses covered include: price comparison, investing comparison, and large commission comparison. Kim and Todd address the reasoning behind each question the viewer had and then proceed to teach why both whole life and term insurance are important and practical. Most clearly, they express why term on its own is not a long term option, as its name suggests. Once again, the final consensus is that a combination of both insurance options is the best way to stay protected as well as save for the future. 0:00 – Introduction 0:18 – Welcome 1:06 – Recap on previous podcast concerning term insurance vs. whole life insurance debate 2:51 – Argument #5 Why is term insurance cheaper than whole life? 3:02 – Response to argument #5 Immediate price comparison is not helpful because they have different functions over time. It’s like renting vs. buying. 6:16 – Argument #6 “Unbundling” gives the client more cash back and more options on investing. 7:10 – Response to argument #6 part one: Actually, it’s the “investing” part of “buy term and invest the difference” that often doesn’t work well. 9:33 – Typical advisor recommended investment information. 10:15 – Response to argument #6 part two: Whole life out-performs many other savings vehicles and even many investment vehicles, depending on the environment. 12:00 – Sales of term insurance helps the insurance company meet the 4 to 5 percent net figures to the whole life policy owners. 13:24 – Argument #7 insurance agents sell whole life to make huge commission. 13: 34 – Response to argument #7: Term, whole life and mutual funds can all deliver good commissions. Commissions are necessary to business success. It is ludicrous to think that a 200-year old product has survived only because of commissions! 14:44 – Wrap up

In this episode of The Prosperity Podcast, best selling financial author, Kim D. H. Butler and “No B.S. Money Guy,” Todd Strobel take on some misconstrued ideas regarding whole life insurance vs. term insurance. Looking at a comment that was left on Partners for Prosperity’s blog, they clarify four aspects of whole life insurance, busting four common myths: These include: Do you “pay for two and get one” benefit? Is there really “zero cash value”? What about the death benefits – does term really give you more? and Is whole life too expensive for middle income families? The question and answer sequence of this particular podcast is a great way to uncover misconceptions that various insurance buyers might have, especially if they are relying on “internet advice” or even advice from financial planners who do NOT specialize in life insurance. This episode presents facts that will help buyers make properly informed decisions. Through questions and answers, Kim and Todd determine that a combination of both whole life insurance and term insurance may actually be the safest and most reasonable option for many families. 0:00 – Introduction 0:18 – Welcome 0:40 – Recap on past podcast encouraging combination of term insurance and whole life insurance. 1:00 – Whole Life insurance vs. Term Insurance 2:44 – Comment on partners4prosperity.com website with concerns regarding whole life insurance. 3:36 – Argument #1 Pay for two and only get one with whole life insurance (death benefit or cash value). 3:41 – Response to argument #1 Pay for one and get three or four benefits! 6:17 – Argument #2 Zero cash value. 7:39 – Response to argument #2 Cash value always grows with whole life. 7:53 – Examples of growth and also paid-up additions rider. 9:01 – Argument #3 Insurance company takes accumulated cash value in exchange for the death benefit. 9:50 – Response to argument #3 Death benefit grows along with cash value. Rate of return is excellent when claims are paid. 12:00 – Term insurance is limited because claims are rarely made. 13:15 – Argument #4 Cost to cover death benefit is too expensive for middle income family 13:54 – Response to argument #4 Whole life insurance is one of the best places to save money long-term. 15:00 – Wrapping up.

Our hosts are back in this episode of The Prosperity Podcast to answer all of your life insurance questions. “No BS Money Guy,” Todd Strobel, and best-selling financial author, Kim D. H. Butler instruct listeners in Life Insurance 101. Answering common questions, Kim and Todd clarify differences between types of life insurance, and give listeners sound insurance advice. They explain the many different ways we can use life insurance, and which types are the most ideal for different situations. This truly is a life (insurance) lesson you won’t want to miss! 0:19 – Welcome 0:42 – Common questions regarding life insurance 1:00 – What to do with your cash? 2:00 – The oldest life insurance product 3:40 – Clarifying whole life vs. term insurance 6:10 – Summarizing functions of life insurance 7:07 – Convertible term insurance 9:31 – Term/whole life hybrids 13:49 – “In force” illustrations 15:10 – Kim’s last thoughts

Are financial advising and financial planning the same thing? Todd and Kim say they are NOT! In this episode of The Prosperity Podcast, “No BS Money Guy” Todd Strobel and Kim D. H. Butler, best-selling financial author, clear the murky air and set straight the differences between financial advising and planning. Our hosts point out the impossible problems of financial planning and the traps we can fall into when relying on financial planning. They also talk about how financial advising is different and WHY it works better than financial planning to build wealth and prosperity. 0:20 – Welcome! 0:45 – Financial Advising vs Financial Planning 1:48 – The faults of financial planning 4:20 – The advantages of financial advice 5:50 – “Projected” retirement age? 7:30 – The risk tolerance question 9:00 – Average vs. Actual 11:10 – Target portfolios and the stock vs. bond split 12:30 – Full disclosure 13:20 – Focusing on the next 3-5 years 13:45 – Using Prosperity Economics 14:40 – Wrapping up

In this episode of the Prosperity Podcast, “No BS Money Guy,” Todd Strobel and best-selling financial author, Kim D. H. Butler talk about the different types of financial advisers that exist and the pros and cons of each type. They answer questions about which type of adviser is the most beneficial for various situations and how to decide which is best for your situation. Our hosts answer the question about free financial advice and whether or not the phrase “you get what you pay for” rings true in those types of situations. Referring to insurance, Todd and Kim remind us that investments are not our only way toward gaining financial stability and growth. 0:19 – Welcome to another edition 0:31 – Praise for Prosperity 1:15 – Developing a prosperity mindset 3:14 – What is a financial adviser? 4:30 – 1st camp: the suitability standard 5:15 – 2nd camp: fiduciary adviser 6:11 – 3rd camp: insurance agents 6:50 – Investments aren’t everything 7:45 – Clarifying questions 8:05 – Which one do I need? 13:12 – What about free financial advice? 15:29 – Take care!

Picking up where they left off last episode, “No BS Money Guy,” Todd Strobel, and best-selling financial author, Kim D. H. Butler, resume talking about life insurance and how we can use it for our benefit before our death. Todd and Kim discuss two different working examples of how we can utilize our death benefits during our lifetime. They present the pros and cons of various life insurance policy options and make recommendations on which they believe could be in our best interest in certain situations. Many people do not realize how life insurance can be used to transfer wealth while the policyholder/insured is still alive and well! We are encouraged by the hosts to not wait until death to use our insurance to benefit others, but rather to give while we live. 0:19 – Hi everybody! 0:33 – Picking up where we left off 0:50 – Using your life insurance in your 70’s 80’s and 90’s 1:11 – Benefiting the next generation with life insurance 1:29 – Utilizing both term and life insurance 2:20 – Example of how to use your own death benefit during life 4:00 – Second Example 6:58 – Clarifying examples 8:20 – Buying life insurance for permission to spend 9:40 – Touching on universal life insurance policies 10:17 – Question: using life insurance to give 11:35 – Wrapping up

Together again, “No BS Money Guy,” Todd Strobel, and best-selling financial author, Kim D. H. Butler, take on the topic of the hidden tax that all Amercians face. It’s a silent, stealth tax that no voters approve, yet it robs us nonetheless. The hidden tax our hosts refer to in this episode is INFLATION. It erodes our savings and injures our earning potential. With an open transparency, Todd and Kim discuss this hidden tax and tell us what the government doesn’t want us to know about who it is benefiting. They caution us against lifestyle inflation as well, and give us tools to help us navigate through these sly and concealed financial thieves. 0:18 – Welcome back 0:40 – Preview of episode content 2:02 – What exactly is this hidden tax? 3:45 – Who is inflation actually benefiting? 6:15 – Talking about lifestyle inflation 7:00 – Addressing top challenges of inflation 9:10 – Reviewing top challenges 11:10 – For personal situations, visit our website

What is it you want to accomplish with your money? Is what you’re doing with your dollars helping to make that happen? Join “No BS Money Guy” Todd Strobel and bestselling financial author, Kim D.H. Butler as they discuss how the power of focus relates to your prosperity. Are your thoughts and actions helping you reach your financial goals? Hear examples and suggestions of how our focus can serve us and help us build peace of mind as well as financial prosperity. When investors try to be fence sitters, their dollars end up compromised and ineffective. Todd and Kim discuss how putting some money firmly on each side of the fence can stabilize us and help prevent a nasty financial tumble. By looking outside the stock market, the hosts show listeners how they can increase control over their dollars and produce the best, most immediate financial results. 0:19 – Hi and Welcome 0:49 – What are we talking about in this episode? 2:00 – The power of focus and why we must focus on what we can control 3:30 – Don’t sit on the fence with your money! 5:20 – Safety outside of the stock market 12:20 – Are you making your money do what you want it to? 13:00 – What to do about the rumored collapse of the US dollar 14:24 – Last minute 401K question 16:40 – Thank you for listening!

You’ve heard what the 7 Principles of Prosperity™ are, now how do you use them to maximize your money? In this episode of The Prosperity Podcast, No B.S. Money Guy, Todd Strobel, and best-selling financial author, Kim D. H. Butler, examine a real life example through the lens of the 7 Principles. Using the 7 Principles of Prosperity as an “opportunity filter,” Kim and Todd look at Bridge Loan investments in the form of first lien commercial and investment mortgages. (Read about bridge loan investments and hard money lending here.) Breaking it down, principle by principle, Todd and Kim explain how each of these 7 concepts work in the example of a first lien mortgage situation. They also explain how to evaluate any investment for its wealth-building potential according to the 7 Principles of Prosperity™. 0:18 – Welcome with Todd Strobel 0:30 – Episode Preview 1:11 – Starting off with first lien mortgage loans 2:20 – Using the 7 Principles of Prosperity as an opportunity filter 2:35 – Applying Principle #1: Thinking about investments 4:53 – Applying Principle #2: Seeing from a big picture perspective 7:29 – Applying Principe #3: Measure opportunity costs 9:30 – Appling Principle #4: Cash Flow10:49 – Applying Principle #5: Controlling your investment 12:20 – Applying Principle #6: Move your dollars 13:10 – Applying Principle #7: Multiply your money 13:39 – Touching on life insurance 14:05 – Optimizing your dollars 15:18 – Recapping/Clarifying 16:55 – Utilize our advice! 18:20 – Closing comments