The Prosperity Podcast

Kim and Spencer discuss the concept of Charitable Remainder Trusts, an estate and wealth planning tool that not many people are familiar with. The hosts explain that these trusts allow individuals to donate assets, particularly highly appreciated ones, to a charity while avoiding substantial capital gains taxes that would be incurred as a result of selling these assets. The individual also receives a consistent income stream from the donated asset throughout their lifetime. Notably, these trusts are particularly beneficial to older individuals. One commonly overlooked step in the process, though, is the acquisition of life insurance to ensure that their family is not left without an inheritance when the individual passes away and the remaining value of the asset goes to the charity. Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity. 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 Thinkers thinking and strategies today! Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.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 https://prosperitythinkers.com/podcasts/ https://gravystack.com/prosperity https://prosperitythinkers.com/action/     Show Notes Who can benefit from a charitable remainder trust Dispelling the myth that it is only for those with millions in assets Family dynamics and the need for life insurance when setting up charitable remainder trusts How life insurance and charitable remainder trusts work together What happens when you donate an asset to a charity The potential challenges that come up when a charity inherits the asset What happens when things could go sideways Real-life scenario of someone who used a charitable remainder trust to their advantage Reaching out to your preferred charity to find out their experience with charitable remainder trust Special Listener Gift Free eBook: Activating Your Prosperity Guide. 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 RSS

Kim and Spencer, in this The Prosperity Podcast episode, featured a discussion about whole life insurance as a financial asset and tool for emergencies and opportunities. It started with a historical look at the inception of whole life insurance by "bands of brothers" and church brethren centuries ago, aiming to address the financial losses of term insurance. As opposed to term insurance, whole life insurance was created to build an asset called cash value, which policyholders could borrow against. This role of life insurance in financial planning has expanded over time, with books like Nelson Nash's "Becoming Your Own Banker" and Kim's "Live Your Life Insurance" reiterating its use as a strategy to tackle life events. Kim debunked the misleading term "bank" often used to describe mutual life insurance companies and pointed out that life insurance allows control, liquidity, usability, and equity (CLUE). She also highlighted the need for financial control in current times where bank accounts could be frozen, suggesting using life insurance as a reliable and secure financial tool. The hosts concluded the episode with a note to delve deeper into the intricacies of becoming one's own banker in future episodes. Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity. 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 Thinkers thinking and strategies today! Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.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 https://prosperitythinkers.com/podcasts/ https://gravystack.com/prosperity https://prosperitythinkers.com/action/   Show Notes The history of life insurance and how it developed for policyholders to borrow against their cash value Life insurance as a vehicle for becoming truly based on something that is freedom-focused The importance of control in life insurance and the present context when businesses are being shut down and their accounts frozen Importance of having control over money in the present time where accounts can be frozen leading to a lack of freedom How to utilize the life insurance industry for storing extra liquidity Additional recommendations to oneself financially to handle any sudden societal issues Special Listener Gift Free eBook: Activating Your Prosperity Guide. 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 RSS

Kim and Spencer discuss the tax advantages and personal protections of life insurance. They discussed points that include the basis of taxation on life insurance, how it is similar to taxation of vehicle and home insurance, and a detailed comparison of life insurance with Roth IRA and 401(k) from a taxation perspective. They briefly talk about borrowing against life insurance cash value and also touch upon the nuances of premium structure and death benefits of a policy.  Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity. 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 Thinkers thinking and strategies today! Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.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 https://prosperitythinkers.com/podcasts/ https://gravystack.com/prosperity https://prosperitythinkers.com/action/   Show Notes Why life insurance has been a crucial financial product for hundreds of years The premium structure of whole life insurance and its tax-free growth Benefit and importance of this rider How life insurance loans are taxed How the accelerated benefits rider operates and its benefits The benefits and functionalities of waiver premium and disability insurance together Circumstances under which life insurance loan interest can be tax deductible Suggestions on borrowing against cash value from the bank to avoid potential tax issues with life insurance lenders Special Listener Gift Free eBook: Activating Your Prosperity Guide. 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 RSS

Kim and Spencer engage in a deep-dive discussion about life insurance policies. They emphasize the importance of having the right mindset and principles when dealing with life insurance policies. They elaborate on the concept of overfunding and underfunding these policies. Kim and Spencer mention how the premium of a policy can build cash value and the ways that a "Paid Up Addition" could increase the death benefit and build cash value. They caution against overfunding your policy beyond the IRS's Modified Endowment Contract (MEC) limit, which could lead to tax implications.  Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity. 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 Thinkers thinking and strategies today! Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.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 https://prosperitythinkers.com/podcasts/ https://gravystack.com/prosperity https://prosperitythinkers.com/action/   Show Notes The future possibility of creating a video of the book First step in life insurance - funding "Paid up addition" in life insurance The flexibility of funding in whole life insurance What MEC limit is The seven-year MEC limit analysis The right timing to utilize life insurance Using life insurance in your financial situation The timing of insuring people from multi-generation families Who is the key person in life insurance The concept and benefits of key person life insurance Special Listener Gift Free eBook: Activating Your Prosperity Guide. 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 RSS

Spencer and Kim discuss luck vs. hard work, focusing on how preparation leads to opportunities. They debunk luck myths, promote work over lottery, and stress ownership for financial control. They affiliate with Gravy Stack movement for prosperity. Tune in to learn financial strategies!

This episode centered around the concept of cutting expenses, discussing how efforts to decrease spending often lead to limited financial success. Referencing the book, No Worries by Jared Dillian, a finance writer and former Wall Street employee, this episode highlighted the drawbacks of focusing solely on expense reduction. Rather than achieving true prosperity, continual cost-cutting may lead to financial stagnation. Spencer and Kim also emphasized the importance of rising above cutting costs and shifting focus onto cultivating abundance and increasing income. They discouraged clinging onto the concept of emergencies and being fixated on escaping debt. This negative focus might invite more of the unwelcome circumstances, aligning with the principle of attracting what one mostly thinks about. Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity. 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 Thinkers thinking and strategies today! Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.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 https://prosperitythinkers.com/podcasts/ https://gravystack.com/prosperity https://prosperitythinkers.com/action/ No Worries by Jared Dillian: https://www.amazon.com/No-Worries-live-stress-free-financial/dp/1804090409   Show Notes Why cutting expenses is not always beneficial More insight about Jared Dillian's perspective on cutting expenses Personal experiences in managing day to day expenses Perspective on dealing with debts Why you should increase income rather than merely focusing on cutting costs Suggestion to expand financial thinking Looking at increased upsides rather than cutting costs Importance of thinking positively for prosperity.  Special Listener Gift Free eBook: Activating Your Prosperity Guide. 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 RSS

Prosperity Pets consists of a series of stories that provide lessons concerning prosperity. Kim shares the unique idea behind a stuffed pet that is an exact replica of her dog, Emma, leading the hosts to connect it with the idea of Prosperity Pets. The primary aim of these stories is to teach children and adults alike the importance of being prosperity thinkers, akin to pets that pull out positivity and live in the moment. The intention is to combine the fun and engaging nature of pets with the substantial principles of prosperity.  Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity. 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 Thinkers thinking and strategies today! Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.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 https://prosperitythinkers.com/podcasts/ https://gravystack.com/prosperity https://prosperitythinkers.com/action/   Prosperity Pets book link for Amazon: https://www.amazon.com/THINK-Adventures-at-Prosperity-Patch-ebook/dp/B0CVLJZ251  Show Notes How animals represent Prosperity Thinkers and how it is incorporated in story format The integration of the series in home learning environments How prosperity can begin at a young age The importance of learning about money Example of how mindset can lead to prosperity How prosperity can start from a checking account and a saving first mentality How changing your mindset is the starting line of prosperity Using the Currence app for building better cash flow habits The perception of wealth and the concept of budgeting Example of inherited wealth and the challenges associated with it How wealth can impact with generations The importance of instilling habits for perpetual wealth The practical implementation of Prosperity Pets in real life to learn about prosperity thinking Special Listener Gift Free eBook: Activating Your Prosperity Guide. 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 RSS

Kim Butler chats with Garrett Gunderson, they talk about his ongoing book projects including revised versions of "Killing Sacred Cows'' and "What Would the Rockefellers do," and his children's book "I am Money". They delve into the importance of adaptive learning and self-care, illustrating how treating oneself as the greatest asset can lead to better productivity and generosity.  In another segment, Butler shares her views on the perception of work, resilience, failure, and retirement. She argues that work should be enjoyable, and recovery from failure is crucial for growth. Significantly, she introduces her book "Prosperity Pets," a unique approach to teach kids about money using interactive methods.  Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity. 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 Thinkers thinking and strategies today! Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.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 https://prosperitythinkers.com/podcasts/ https://gravystack.com/prosperity https://prosperitythinkers.com/action/ https://garrettgunderson.com/ https://www.linkedin.com/in/garrett-gunderson-651359b3  Show Notes Garrett’s writing projects, focusing on updating his previous books The notable changes since his books were published, like the rise of cryptocurrencies His experience of writing a children's book and a chance meeting with a successful children's book author on a flight The importance of investing in oneself and teaching this concept to the younger generation through children's books The impact of children's education on their understanding of financial management The metaphorical representation of pets in their children's book, "The Prosperity Pets" The underlying message of Kim's children's book, Prosperity Pets, which is about prosperity, thinking and serving others The potential of learning from children's books as adults, especially in fostering an open-minded mindset The hope that the children's book could reach an audience that may not be reading their other books, thus spreading the concept of prosperity thinking Special Listener Gift Free eBook: Activating Your Prosperity Guide. 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 RSS

This episode talks about the concept of "thinking big enough" inspired by some song lyrics, highlighting the importance of songs as they carry messages that stick. Kim, introduces the term "visioneering", which substitutes setting specific goals with envisioning a future that inspires and propels us forward, as she believes goals can be inherently limiting. She explains that visioneering differs from goal setting as it encourages long-term and expansive thinking that is constantly changing, instead of being strictly focused on achieving specific, short-term, and measurable results. She makes the point that we should keep dreaming and visioneering, and always refer back to what we genuinely want, rather than focusing on societal expectations. Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity. 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 Thinkers thinking and strategies today! Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.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 https://prosperitythinkers.com/podcasts/ https://gravystack.com/prosperity https://prosperitythinkers.com/action/ An Almighty Thud by We Were Promised Jetpacks https://open.spotify.com/track/7g8H1198jHO0STkaLlf7zX?si=3180efc283584a6e     Show Notes Reading out and analyzing song lyrics, with a focus on one particular word, 'advocated,' that prompted interesting insights. Comparison of goals to the horizon, which is an ephemeral target that's always moving and inspirational yet disruptive if not handled properly. Discussion on the potential need to move beyond goal setting to visioneering.  Kim advocates for starting from where you currently are and being clear about your dreams and desires for the future. The concept of fluid visioneering, where visions adjust and transform over time as circumstances change. Explaining the importance of leading your own thoughts and inspiring others through personal beliefs and values, with help from a higher power or support system when needed. How to dream bigger for the prosperity community in the coming year by focusing on families and legacy building. Kim explains her process of visioneering by creating a physical environment conducive to expansive thinking. The emphasis on creating a lasting non-monetary legacy for future generations by leaving important lessons and values in them. Special Listener Gift Free eBook: Activating Your Prosperity Guide. 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 RSS

This episode delves into the topic of offshore banking alternatives. The hosts, contemplating the changing economy and threats of central bank digital currencies, discuss the importance of retaining control over personal wealth. They share fascinating insights into medical tourism and reflect on the attractiveness of the US dollar in countries like Brazil and Mexico. They underline the importance of having control over personal wealth. For those just starting their careers to those with a net worth of fewer than 10 million dollars, they highly recommend considering such domestic institutions over offshore banking alternatives. Ultimately, research, understanding, and control are key factors when it comes to managing finances effectively. Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity. 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 Thinkers thinking and strategies today! Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.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 https://prosperitythinkers.com/podcasts/ https://gravystack.com/prosperity https://prosperitythinkers.com/action/     Show Notes The trend of medical tourism and its financial benefits The complexities and risks associated with offshore banking and the need for professional guidance Importance of researching and understanding the administration and legal necessities in offshore banking The resemblance between mutual life insurance companies and credit unions The difference in operations between stock life insurance companies and mutual life insurance companies Where to best store and use dollars Suitability of offshore banking for individuals at various levels of wealth Whole life insurance policy as a beneficial alternative for storing cash and for long-term financial management Special Listener Gift Free eBook: Activating Your Prosperity Guide. 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 RSS