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 culture of abundance, possibility, and growth. Please note, that 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 [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/
• https://gravystack.com/prosperity
• https://prosperitythinkers.com/action/

Show Notes

• Kim Butler's introduction and endorsement by financial figures.
• The concept of "Busting the Budgeting Lies" and its relevance to personal finance.
• Challenging the effectiveness of budgets in real life.
• The myth that saving first doesn't work in today's world debunked.
• Personal story on saving first through life insurance premiums.
• Introduction to the "Currence" app for cash flow management.
• How "Currence" helps to measure financial progress backwards.
• The potential impact of properly managed cash flow over a lifetime.
• Utilizing technology to control and enhance personal finance.
• Final advice for business owners to balance personal finances with business success.

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

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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 potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, that 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 [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/
• https://gravystack.com/prosperity
• https://prosperitythinkers.com/action/
• https://twitter.com/FluentInFinance/status/1782561174472507667

Show Notes

• Tax strategy: Follow or not follow the tax code?
• Trusts for wealth protection and tax benefits.
• The pitfalls of irrevocable trusts.
• Custodial Roth IRAs and their limitations.
• Taxable brokerage accounts and gift tax exemptions.
• Why to avoid 529 plans.
• Hiring kids legally for tax benefits and life skills.
• The need for a business for tax advantages.
• Financial literacy vs. financial capability for kids.
• The truth about compound interest and taxes.
• Addressing misconceptions about investing in the S&P 500 for children's wealth.
• The crucial role of whole life insurance in wealth growth and protection.

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
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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 of cash flow and serving others alongside building wealth, considering wealth building as a marathon rather than a sprint.

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 [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/
• https://gravystack.com/prosperity
• https://prosperitythinkers.com/action/

Show Notes

• The importance of an emergency and opportunity fund
• Why you should have a foundation fund which is not taxed and readily available to take advantage of opportunities
• The ideal size of your opportunity fund
• Importance of having a larger opportunity fund than the size of the deals you are seeking
• The race towards financial stability
• The concept of serving as a human or spiritual standpoint in one's life
• Why you should go slow in investments and making wise decisions
• The problem of focusing only on sprinters or starters in financial information
• "Perpetual Wealth" and the seven phases of prosperity
• Importance of having checkpoints in one's financial journey
• Use of every decade as a checkpoint
• The need to stretch our perspective of time and have a firm foundation
• The value of cash flow

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 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 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 [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/
• https://gravystack.com/prosperity
• https://prosperitythinkers.com/action/
• https://prosperitythinkers.com/vote/

Show Notes

• The importance of financial education and shares her experiences writing the book 'Busting the College Planning Lies'
• Experiences from Kim's own financial education and how it fuels her drive to simplify financial education for everyone, regardless of age or financial awareness
• Distinction between products that people buy and strategies that people do to control their money
• Age and the societal misconception surrounding retirement at 65, urging people in their 50s and 60s to envision working for another 30 or more years
• Individual stories of reinventing oneself and continuous learning shared
• Planned client event for learning, along with the concept of a potential community for mindset of prosperity relating to personal finance
• Creating a voting system in the next episode for listeners to decide on the type of community they seek

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 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 applying these principles both personally and as a family. The hosts also discussed the importance of pursuing financial literacy for safer and better banking and financial decisions.

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 [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/
• https://gravystack.com/prosperity
• https://prosperitythinkers.com/action/

Show Notes

• The importance of language in understanding financial concepts
• The clarity that comes with understanding family banking, as opposed to the confusion that arises from the term "family bank"
• Why anyone can practice family banking
• The importance of focusing on cash flow as a starting point before progressing to other financial considerations
• Value of repaying loans with interest and how the concept has been lost in present society
• Opportunity cost in the context of personal finance
• Individuals avoiding debt due to lack of financial literacy or fear
• Why personal finances should not be handled with a mindset looking for shortcuts
• Significance of financial education and having someone trustworthy to help guide you through your financial decisions
• The importance of having a clear set of financial principles to live by
• How to adopt or create a set of financial principles based on the seven principles of 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

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 [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/
• 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 [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/
• 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 [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/
• 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 [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/
• 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 the concept of luck and its relation to hard work. They argue that luck can be misleading since it insinuates that success doesn't need work or can be taken away at any moment. Instead, they emphasize that working is a way of serving and creating value, making it the foundation for success. They also underline that when one is prepared and actively participating, opportunities arise that may be perceived as luck but in reality, are the product of effort and preparation. The hosts also express skepticism towards beliefs that advocate for good fortune through actions like playing the lottery or burning fake money, highlighting the importance of work, savings, and ownership as the means to control and independence.

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 [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/
• https://gravystack.com/prosperity
• https://prosperitythinkers.com/action/

Show Notes

• Kim's perspective on luck and why it's not one of her favorite words
• Alternative perspective of work as a positive thing
• The idea of uncontrollable good or bad luck
• How to create abundance without relying on luck
• Individual responsibility and control in attaining prosperity
• Optimizing for independence instead of freedom
• Dangers of government-sponsored plans removing control from individuals
• The importance of controlling our reaction to uncertain situations
• The LUC (Liquidity, Use, Control) concept and how it's misconstrued as "luck"

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