Responsible Borrowing: How to Use Debt to Your Advantage - Episode 513
Release Date: 05/02/2023
How To Perceive Value - Episode 533
The Prosperity Podcast
Spencer and Kim discuss the concept of value and altering perspective on it. They use a personal anecdote to illustrate the idea, wherein his content creator son understands his work's value in a different way when his father becomes his 'employer'. This story is used to spark discussion on how people value their wealth and finances, and their aversion to taking action due to perceived risks. Kim suggests methods to think about value in personal terms - seeing the value in our future selves and tying decisions to emotions to facilitate desired behavior. Prosperity Thinkers is proud to be...
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Rising Cost of Insurance - Episode 532
The Prosperity Podcast
Spencer and Kim discuss the rising cost and decreasing availability of homeowners insurance, and how people can prepare for potential future issues. A recent incident where a tree limb fell and damaged a greenhouse on their property led them to talk about the potential costs and benefits of having homeowners insurance, especially when it comes to damage repair and tree removal. They also touched on the increase in homeowners insurance costs and difficulty in obtaining it in certain areas like California and Florida. The hosts also discuss how life insurance can be a place to build up cash...
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IUL vs Whole Life Insurance Comparison - Episode 531
The Prosperity Podcast
Spencer and Kim compared Indexed Universal Life (IUL) insurance and Whole Life insurance. They compare IUL to a mobile home due to its flexible and adjustable nature, which also means it carries more risk. Meanwhile, Whole Life insurance is compared to a brick and mortar home due to its stability and permanence. 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,...
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100% Death Tax? - Episode 530
The Prosperity Podcast
Spencer and Kim discuss a provocative concept called the 100% death tax, proposed by self-made millionaire Alex Hormozi. The idea suggests that if entrepreneurs knew their entire wealth would be seized upon their death, they would be more inclined to invest their wealth, experiment with new ideas, and constantly innovate. 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...
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Net Givers vs Net Takers: What Are You? - Episode 529
The Prosperity Podcast
This episode of the Prosperity Podcast discusses the mindset of givers and takers, particularly among millionaires and billionaires. Drawing insights from a study by Patrick Campbell, a man who has owned a data analytics company, the hosts note that Campbell's study shows that takers tend to seek 51% of value from their interactions and see relationships as a series of single moves. 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,...
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The Financial Services Industry Isn’t Serving YOU - Bonus Episode 528
The Prosperity Podcast
In this episode of the Prosperity Podcast, Jim Klauck interviews Kim Butler, who discusses her approach to assisting people in managing their finances and accumulating wealth. This involves simplifying savings, automating assets, and instilling faith in finances. Kim highlights the importance of establishing an emergency fund and opportunity fund to counter unexpected life events and investment opportunities, which also promotes peace of mind and overall health. She also emphasizes automating savings and using traditional assets like whole life policies to build wealth. Prosperity...
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Rich Men North Of Richmond with a Prosperity Perspective - Episode 528
The Prosperity Podcast
This episode of the Prosperity Podcast focuses on the surprising success story of Oliver Anthony, an Appalachian-based singer/songwriter. Oliver's unexpected hit song, "Rich Men North of Richmond," reflects the frustrations and hopes of blue-collar, hard working Americans. Hosts emphasize that the song, depicting struggles with poverty and feeling controlled by others, resonated deeply with audiences, thrusting the home-grown artist to the top of several music charts. The discussion then shifts to the attributes of their listeners, appreciating those who exhibit humility, long-term thinking,...
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Don't Outlive Your Money - Episode 527
The Prosperity Podcast
This episode focuses on two central topics - the concept of outliving one's money and the worth of one's money in the current economic climate. The common theme of the episode is challenging conventional notions of retirement and financial planning. Kim is highly critical of the societal construct of retirement, describing it as a "scam" and an inherently selfish way of living that often leaves retirees discontented and unproductive. Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and...
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Fast-Track to Prosperity: The Financial Edge of Homeschooling Early On - Episode 526
The Prosperity Podcast
Kim and Spencer discuss the importance of educating children at home, guiding them towards finding something they enjoy, teaching them responsibility, and cultivating them into becoming responsible human beings. The hosts emphasize the vital role that homeschooling played in their children's positive development, citing their ability to guide them towards their interests and passions. 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,...
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Dinner Table Money Conversations - Episode 525
The Prosperity Podcast
Kim and Spencer discuss the concept of having intentional money conversations at the dinner table. These talks don't center around politics or religion but on financial education, a subject usually avoided or not tackled properly at home. The intention is to use "prosperity thinking" to add more valuable information and perspectives for the listeners and their families. 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...
info_outlineKim and Spencer discuss responsible borrowing and how to use debt to your advantage, particularly when it comes to building businesses or making investments. The conversation emphasizes the importance of having a proper mindset before considering taking on debt and being confident in the ability of the investment or business to generate enough cash flow to pay off the debt.
The podcast also highlights the need for liquidity to cover potential issues such as delays in business profitability or unexpected expenses. In addition, it recommends using bank financing, borrowing against the cash value of life insurance policies or acquiring funds from venture capital, family or other sources as a means of obtaining debt responsibly.
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/
Show Notes
- Discussing responsible debt and debt taken for building businesses and investments
- Building liquidity and why it is important for taking on responsible debt
- Interest rates and the dividing line between good and bad debt
- Approaching OPM (Other People's Money)
- Understanding responsible borrowing from a prosperity perspective
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