The Prosperity Podcast

Summary:

Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about a recent article from AARP called The Bank of Mom and Dad. Together they discuss the different questions and scenarios when handling finances with adult children.

Tune in to find out how to take control of your finances 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 in this Episode:

Get the free ebook and audiobook - Financial Planning has FAILED

Submit your questions [email protected]

AARP's article from January 2017 called The Bank of Mom and Dad

Show Notes:

00:00 Introduction

00:29 Today's topic: AARP's article from January 2017 called The Bank of Mom and Dad

01:47 Question #1 - Will this investment add stability and security to my child's life or is it simply a good to have purchase or investment?

05:22 When helping children in their 30's and 40's it may be causing their children problems

05:47 Question #2 - Is this a short-term or one time cash need, or is it something that could drag on for years?

06:26 Question #3 - Is there risk in the investment beyond the cash outlay, such as financial liability on a contract or damage to your credit?

8:04 Question #4 - Can you lend or give this money without fear of damaging your relationship with your child or will it cause tensions or resentments for the people involved?

12:58 The AARP scenarios

13:32 Scenario #1 - Dead Car

14:41 Scenario #2 - Fairy Tale Wedding

16:37 Scenario #3 - Apartment Lease

18:03 Scenario #4 - Home Down Payment

21:35 Scenario #5 - Divorce Bailout

23:39 Scenario #6 - Business Loans

25:05 Scenario #7 - Graduate School

Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about how your cash value life insurance grows and how to get an accurate long term view by comparing it to bank rates.

Tune in to find out how to take control of your finances 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.

Summary:

Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about how your cash value life insurance grows and how to get an accurate long term view by comparing it to bank rates.

Tune in to find out how to take control of your finances 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 in this Episode:

Get the free ebook and audiobook - Financial Planning has FAILED

Submit your questions [email protected]

Kim's latest book Busting The Life Insurance Lies

Quick read Live Your Life Insurance

Free financial calculators at Truth Concepts

Show Notes:

00:00 Introduction

00:28 Today's topic: Whole Life Insurance and How Your Cash Value Grows

01:06 The whole life cash value is the perfect emergency fund

02:36 Kim's newest book Busting The Life Insurance Lies talks about calculating internal rate of return on page 228 in the book

05:25 If you look at whole life companies website you'll see a gross dividend around 6% which is irrelevant because fees are not factored in

07:39 Your cash value should be looked at when viewed over time, not 5 to 7 years

09:00 The rule of thumb is cash value whole life insurance grows at 2-3 points above bank rates

10:05 What happens when interest rates come up on CD's?

10:46 When purchasing life insurance you're purchasing an asset

12:25 Books: Live Your Life Insurance and Busting The Life Insurance Lies to learn more

13:30 Financial calculators at Truth Concepts

Summary:

Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel share different morning health habits that will help you live a more happy and prosperous life.

Tune in to find out how to take control of your finances 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 in this Episode:

Get the free ebook and audiobook - Financial Planning has FAILED

Submit your questions [email protected]

Tim Ferriss's new book Tools of Titans

Miracle Morning by Hal Elrod

The Path to Wealth by May McCarthy

The new coffee phenomenon Bulletproof Coffee

Show Notes:

00:00 Introduction

00:31 Today's topic: Morning Health Habits

01:40 Tips in the book Tools of Titans by Tim Ferriss

02:39 Todd's advice is to live a life in balance

04:24 Kim shares the book Miracle Morning by Hal Elrod

05:32 Book: The Path to Wealth by May McCarthy

07:27 Todd's tip is to lay The Bible in the kitchen so you can do "Bible Nibbling"

08:18 Play the gratitude game while you're waiting and notch it up one by adding the spiritual or inspired aspect of the item

09:40 Get outside and enjoy the fresh air

11:11 Todd's advice is: ADIO - Healing comes from Above, Down, Inside your body and Out

12:38 Put fuel in your body every morning

13:28 Todd Langford uses Bulletproof Coffee and Protein

16:55 Drink enormous amounts of water especially first thing in the morning

17:17 Make sure you laugh at least 30 minutes a day to release healing chemicals

Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel share different morning health habits that will help you live a more happy and prosperous life.

Tune in to find out how to take control of your finances 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.

Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about the books they are currently reading and share insights on how to get the most out of reading and thinking more clearly.

Tune in to find out how to take control of your finances 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.

Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about auto financing and the advantages of buying vs leasing. They also share how to avoid the traps car dealers lay out when financing a car.

Tune in to find out how to take control of your finances 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.

Summary:

Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about the books they are currently reading and share insights on how to get the most out of reading and thinking more clearly.

Tune in to find out how to take control of your finances 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 in this Episode:

Get the free ebook and audiobook - Financial Planning has FAILED

Submit your questions [email protected]

Books Kim and Todd are reading:

Jump by Steve Harvey

The Other Side of the Coin by Will Duffy

The Noticer by Andy Andrews

Success for Teens by John Fleming

Essentialism by Greg McKeown

The End of Average by Todd Rose

Show Notes:

00:00 Introduction

00:31 Today's topic: Kim and Todd's favorite books

01:59 Why reading books help develop thought more thoroughly

03:27 Todd is reading Jump by Steve Harvey

05:04 Quick tip: Get the sample of the book on your kindle to see if you like it

05:43 Kim is reading The Other Side of the Coin by Will Duffy

10:35 Kim is also reading The Noticer by Andy Andrews

12:34 Another book Kim is reading Success for Teens by John Fleming

15:01 Kim is also reading Essentialism by Greg McKeown

15:52 The last book Kim mentions is The End of Average by Todd Rose

17:56 Book Giveaway: Financial Planning has FAILED get it at www.partners4prosperity.com/ebook

Summary:

Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about auto financing and the advantages of buying vs leasing. They also share how to avoid the traps car dealers lay out when financing a car.

Tune in to find out how to take control of your finances 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 in this Episode:

Get the free ebook and audiobook - Financial Planning has FAILED

Submit your questions [email protected]

Show Notes:

00:00 Introduction

00:34 Today's topic: Financing Your Vehicles

01:46 Different ways to reduce the amount of money you spend on cars

02:50 Understanding rebates and 0% financing

03:55 Why car dealers add the interest to the total price but call it 0% interest

05:11 How to get the true price of the car

07:31 A negotiation tip to get the best price

08:15 We want dealerships to be profitable but transparent

09:06 Deductions from leasing a car

10:59 How often should you trade vehicles and get new cars

12:12 Absolutely make sure you have high deductibles for lower premiums

12:50 When leasing a vehicle be careful about overage on your mileage

13:20 Accounting tip for your deductions

Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel answer a listener question and share strategies on creating family financial liquidity and decisions to make with college education.

Tune in to find out how to take control of your finances 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.