Why Paying Off Your Mortgage Is A HUGE Mistake - Episode 508
The Prosperity Podcast
Kim and Spencer discuss why paying off your mortgage early may not be the best strategy for financial prosperity, as emotional attachment to homes can lead to emotional decision-making. The time value of money and opportunity cost must be considered, and the best mortgage loan is a 30-year fixed interest rate mortgage paid over time and refinanced until the borrower dies. Redirecting extra mortgage payments towards paid-up life insurance can be more efficient in building an asset that is not taxed. The goal is to keep refinancing, eventually do a reverse mortgage to free up equity, and educate...
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Time Value of Money - Episode 507
The Prosperity Podcast
What’s the meaning of money for you? A lot of people believe that the more money you have, the happier you are. But how can you maintain the balance between your time, your value, and your money? In this episode, Spencer Shaw and Kim Butler delve into the concept of the time value of money. They take a deep dive into the importance of finding a balance between saving and spending along with valuing time as much as money. Spencer and Kim also share their best practices in looking at money from a long term perspective and promote how you can start finding the balance between time, value, and...
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Creating Tax-Free Wealth - Episode 506
The Prosperity Podcast
The concept of visioneering is believed to help lift people’s chins up and look forward to the future. It can be used to look at the opposite side of a goal: Like paying a s much tax as possible to achieve a higher tax bracket. For today’s episode, Spencer Shaw and Kim Butler talk about how to create and promote a wealth-building plan, emphasizing the importance of having a vision and diversifying your own portfolio. They also discuss the different tax implications of various retirement vehicles and how real estate can be a great tax shelter. Best-selling author Kim Butler and Spencer Shaw...
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Protecting Your Legacy and Prosperity - Episode 505
The Prosperity Podcast
They say that people die twice: The first time is their physical death and the second time is the last time their names get mentioned. While life is still ahead of us, should you start preparing as early as now? In this episode, the conversation between Spencer Shaw and Kim Butler centers around wealth protection and the need for preparing for what to come upon your death. This episode not only covers wealth protection, but also family protection, memory protection, and more. The conversation emphasizes the importance of capturing personal stories, lessons learned, ideas, and values for the...
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Wealth Protection - Episode 504
The Prosperity Podcast
After working hard to create your personal wealth, the next step is the need to protect it. And one way to do that is to acquire insurance to protect yourself from major financial loss. Wealth protection can be achieved through life insurance, taxes, and asset formation. Other strategies such as reverse mortgages, charitable remainder trusts, and single premium immediate annuities are also effective. In this episode, Spencer Shaw and Kim Butler talk about the different strategies such as to protect liquidity and assets from taxes. They also suggest involving family members in wealth...
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Prosperity Ladder: Categories of Wealth - Episode 503
The Prosperity Podcast
We all have money concerns from time to time: We want to continue paying the bills, we want to earn more money for investments, and we want to save more for retirement. But to start getting the financial freedom and success that you’re aiming for, what’s the first step? In this episode, Spencer Shaw and Kim Butler discuss the Prosperity Ladder, an infographic created to help people understand their financial situation and progress. Kim explains that the ladder is useful for people of all ages and financial backgrounds, from those just starting to earn money to those who are...
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The New Emergency Fund? - Episode 502
The Prosperity Podcast
Good news Prosperity Thinkers! After releasing the Currence app, we got positive feedback from users. They’ve already seen positive results such as AHAs and the value of converting conscious spending into unconscious savings. To get access to the app, send an email to with the subject line "Currence" today. In this episode, Spencer Shaw and Kim Butler discuss some of the hidden benefits of the Currence app. With the app, users can convert conscious spending into unconscious savings and have an accountability coach right on their phone to automate good measuring and reporting around...
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Collaboration - Episode 501
The Prosperity Podcast
When the members work together to achieve the same goal, team collaboration occurs. As each member of the team has their own unique skills, they can help solve the problem from a different angle and provide a more creative solution. But how can you apply collaboration in your personal life? In this episode of the Prosperity Podcast, Spencer Shaw and Kim Butler discuss the surprising benefits of collaboration. Kim explains that Dan Sullivan, her coach, and mentor, has talked for years about the importance of collaboration and how much more valuable it is than the competition. She then shares...
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500th Episode Celebration with You - Episode 500
The Prosperity Podcast
Happy 500th episode of the podcast! As we celebrate this milestone, for today’s episode, Spencer Shaw and Kim Butler reflect on the journey, noting how listeners have grown with them over the years. They share how they stumbled upon the podcast as a space to communicate with clients and people interested in becoming clients. Spencer and Kim also discuss the growth of podcasts in the past five years and how technological advances have made them more accessible and easier to produce. They share their insight on how podcasts are different from traditional radio, noting that podcasts are about...
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The Levels of Wealth - Episode 499
The Prosperity Podcast
How can you go from being in the lower middle class to the upper middle class? Is it even possible? If so, how can you go and raise your level of wealth? For today’s episode, Spencer Shaw and Kim Butler discuss different levels of wealth. They explain that the bottom is an emergency fund, the middle class is often stuck, the upper middle class is when you become an accredited investor, and the upper class is when passive income exceeds expenses. The middle level of wealth is often where people get stuck because they don't have a clear plan for the next step. To help with this, it's important...
info_outlineWhat do you do with an idea you recently thought about?
For today's bonus episode, Kim and her sister Tammi, start a series of podcasts based on three kids' books.
Kim and Tammi want to talk about these books through the lens of an entrepreneur. They believe that children's books contain principles directly applicable to running a business. As they discuss, they tackle the first of the three books written by Kobi Yamada, What Do You Do With an Idea.
Imagine how a 20-page book can contain a 200-page worth of business lessons. With its amazing pictures, kids can quickly grasp powerful messages with their young minds.
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 [email protected] and we may answer it in an upcoming episode.
Show Notes
- Books written by Kobi Yamada
- How kids books contain business-applicable principles
- What to do with an idea
- Why ideas seem to be fragile for us
- The idea has to have love with it
- Importance of commitment and time
Links and Resources from this Episode - For resources and additional information of this episode go to https://prosperitythinkers.com/podcasts/
- Wealth Renegade Podcast
- What Do You Do With an Idea by Kobi Yamada
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!
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