The Prosperity Podcast

In this episode Kim Butler and No B.S. Money Guy Todd Strobel sit down and talk about another financial myth that even affects some financial advisors. Kim and Todd share the 3 mistakes people make around the calculations of finances.

Today's episode comes from a listener question where Kim Butler and No B.S. Money Guy Todd Strobel sit down and address the topic of life settlements. They share some of the confusing terms and address common questions.

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.

In this episode Kim Butler and No B.S. Money Guy Todd Strobel sit down and talk about building a team of trusted advisors that can manage your financial affairs. This topic conversation comes from a recent issue in the AARP magazine.

Kim Butler and no B.S. money guy Todd Strobel sit down and talk about the money myths that float around in the financial world and one of those biggest myths is that the government wants to build people's wealth. Anyone with a 401k will hear about the government's true objective and see the potential risk on the horizon. Tune in to find out how to take control of your finances today. If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us!

Summary:

Best-selling author Kim Butler and No BS money guy Todd Strobel talk about money myths in particular whether or not it is a good idea to "self-insure" if you have enough money. Kim asks why it is that insurance companies provide more for you if you have more wealth, when society thinks you should have less? And finally Kim and Todd discuss the difference between gross and net worth insurance coverage.

Tune in to find out how to take control of your finances today. If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us!

Links in this Episode:

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Show Notes:

00:00 Introduction

00:43 2 questions: can you self-insure? And should you self-insure?

02:35 Life insurance is not necessary. Especially if you have built up enough assets

06:34 Kim asks why is it that insurance companies will provide more if you have more wealth, yet our society thinks you should have less?

08:36 Life insurance runs things completely different from any other insurance-- it's need-based

08:58 Gross worth vs Net Worth insurance coverage

09:39 The answers to if you should self-insure, and can you?

12:15 The income tax free benefits of life insurance