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When You Have Wealth, You Have To Stop These Things - Episode 518

The Prosperity Podcast

Release Date: 06/06/2023

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More Episodes

In this episode of the Prosperity Podcast, Spencer Shaw and Kim Butler discuss the things people should stop doing once they have accumulated wealth. They highlight the importance of transitioning focus from cash value to the death benefit in their whole life insurance policies, and also to stop being overly focused on tax deductions. Instead, it's recommended to build wealth with after-tax dollars that will be held as after-tax for the rest of their lives. The hosts also emphasize the need to stop doing small transactions and delegate tasks with a humble approach to others who may have unique abilities in those areas.

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

  • The importance of shifting focus from the cash value of whole life insurance to its death benefit and how to utilize it to impact other assets during your life
  • Once a person reaches a net worth of $1 million or above, it's crucial to stop the overt focus on tax deductions, and instead, build wealth with after-tax dollars
  • After your wealth accumulates, small transactions and low-value tasks should be stopped, and time should be spent more strategically on higher-value activities and unique abilities
  • Why should you stop making decisions based on fear and scarcity and focus on protecting their mental space by seeking learning and opportunities from sources that align with their current financial standing


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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