Living Boldly Beyond Atomic Fears - Episode 566
The Prosperity Podcast
Dive into resilience with Kim on the Prosperity Podcast! Amidst global uncertainties, we discuss CS Lewis' wisdom on thriving—not just surviving—in challenging times. From mindset shifts to practical financial safety nets, this episode is packed with strategies for a calm, proactive approach to life's chaos. Tune in for a life-affirming session! 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...
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Busting Money Myths and Bridging the Gap with “Measure-Back” Savings Behavior - Bonus Episode 565
The Prosperity Podcast
Embrace financial wisdom with Kim Butler, a Robert Kiyosaki-recommended guru! With a passion for truth in finance, Kim busts budgeting myths in her new book, "Busting the Budgeting Lies." Discover how to align money with life, not math, and transform your cash flow confidence. Tune in to stop the guilt treadmill and start saving smarter. 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...
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Wealth Tips: Making Kids Rich - Episode 565
The Prosperity Podcast
Unveil the millionaires' playbook! In this episode of the Prosperity Podcast, expert Kim delves into 9+ strategies on how wealthy families build and shield their wealth—and their kids' future. From tax-savvy trusts to the controversial 529 plans, discover actionable methods to enhance financial literacy and capability in your household. Bonus: Kim reveals a "silver bullet" often missed by many! Perfect for parents & future planners. Tune in now! Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their...
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What Is Your Financial Foundation? - Episode 564
The Prosperity Podcast
This episode focuses on the concept of carefully investing in one's financial foundation by creating an emergency and opportunity fund, ideally stored in the life insurance industry for life-long accessibility. This fund should be liquid, tax-free, earning a competitive rate, and able to fund any opportunities that come one's choices, and its size should vary based on the kind of deals one seeks. It ensures one doesn't run into financial difficulties like the person mentioned who had sold a business and then invested unfittingly. The hosts, Spencer Shaw and Kim Butler, discuss the importance...
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Are You Constantly Learning? - Episode 563
The Prosperity Podcast
Kim and Spencer discuss drawing on experts' knowledge instead of trying to become an expert in all areas. They highlight the importance of self-guided learning and financial education, and the current trends in both. The hosts mention the 'who, not how’ philosophy that involves leaning on expert advice rather than trying to become an expert in all areas. Kim shares her experience with financial education, emphasizing the need to simplify complex financial topics for consumers. They discuss the societal obsession with retirement at age 65, which they view as harmful. Prosperity...
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Family Bank vs Family Banking - Episode 562
The Prosperity Podcast
Kim and Spencer discuss the important difference between 'Family Bank' and 'Family Banking.' The hosts emphasize that understanding the distinction between these two concepts is crucial to managing personal and familial finances effectively. While Family Bank remains a widely misunderstood and elusive concept due to certain legal and ownership restrictions, Family Banking refers to the strategic process of managing monetary inflow and outflow, which every family can do. Essentially, Family Banking is about understanding the principles of prosperity and the philosophy of cash flow, as well as...
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When To Use A Charitable Remainder Trust - Episode 561
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,...
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Becoming Your Own Bank Prosperity Thinkers Version - Episode 560
The Prosperity Podcast
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...
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Tax Advantages of Life Insurance Deep Dive - Episode 559
The Prosperity Podcast
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...
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The Detailed Guide on Funding Life Insurance Policies - Episode 558
The Prosperity Podcast
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...
info_outlineHow do you keep track of your expenses and finances? Do you use the traditional pen and paper to jot down the numbers you’re spending or saving or do you take advantage of the technology to effectively track your finances?
For today’s episode, Spencer Shaw and Kim Butler discuss a new innovation for tracking finances: Currence.
What exactly is Currence?
Currence is an app and account that tracks finances and optimizes them based on the Profit First methodology. It puts all income into its account and automatically schedules payments out of it each month, so users have a better handle on their money.
To get access to the Currence app is by invitation only. Email [email protected] with the Subject: “Currence” to get access.
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.
Links and Resources from this Episode
- For resources and additional information of this episode go to https://prosperitythinkers.com/podcasts/
- To get access to the Currence app, it is by invite only. Email [email protected] with the Subject: Currence to get access.
Show Notes - The Currence app tracks finances and optimizes them based on the Profit First methodology
- Automatically schedules payments out of your account each month
- What goals to have before you start using the Currence app
- Prosperity Thinkers offers financial advice and guidance
- Helps users take control of their money
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!
Call to Action
Get access to our first beta list: Email [email protected] using the subject line Cash App
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