The Prosperity Podcast

Kim and Todd stay after class to finish their test. Questions about Financial Literacy are asked, answered, and discussed. This section of the test features segments about saving and investing. Also, the final part of our test asks a few questions about taxes and the role of government over your money. Sit down and take out a No. 2 pencil for today’s episode of the Prosperity Podcast.

If you haven’t already, check out our ebook, Financial Planning Has Failed, now available as an audiobook. Visit our site and download your free copy now!

How financially literate are students? Kim Butler and Todd Strobel head back to high school to take a test. Questions about Financial Literacy are asked, answered, and discussed, as well as why a few of the questions themselves might be misleading! This financial literacy test features a segment about investing, financial responsibility and insurance, as well as a segment on credit cards and debt. There will be no talking during the test on today's episode of the Prosperity Podcast.

If you haven't already, check out our ebook, Financial Planning Has Failed, now available as an audiobook as well. Visit our site and download your free copy now!

Show Notes:

[0:00] Prologue

[0:19] Intro

[0:37] The Financial Literacy Test

[1:59] The Best Source of Investment Advice

[4:22] Brokerage Firms that Provide Lowest Cost of Shares

[5:31] Who Supports the Loss of Value in a Mutual Fund?

[7:10] When are You Least Likely to be Asked About Your Credit Score?

[8:30] Which of These People Needs the Greatest Amount of Life Insurance?

[11:43] Prosperity Accelerator Pack

[12:21] Insurance that Covers Automobile Flood Damage

[13:05] Credit Cards for Those that Pay the Monthly Balance

[14:54] Minimizing Future Interest Payments

[16:30] Terms Not Associated with Borrowing

[16:58] Actions that Most Change a Credit Score

[17:51] Credit Scores and Finance Charges

[19:59] Wrap-Up

[20:38] Outro

Kim and Todd head back to high school to take a test. Questions about Financial Literacy are asked, answered, and discussed. The test features a segment about financial responsibility and insurance, as well as a segment on credit cards and debt. There will be no talking during the test on today’s episode of the Prosperity Podcast.

If you haven’t already, check out our ebook, Financial Planning Has Failed, now available as an audiobook. Visit our site and download your free copy now!

How should investors respond to the 401(k) on the decline? Is the stock market poised for another correction? Today's episode presents the argument for self-directed IRAs and non-correlated investments.

Kim Butler and Todd Strobel explain the ripple effect that Baby Boomers have had on 401(k). They explain how this will impact the market and why it may be a good thing, in the long run. They also discuss alternative ways to invest, particularly non-correlated asset classes and investments that do not fluctuate with stock market prices. It's all about making your money grow and work for you in today's episode of the Prosperity Podcast.

We now have our ebook, Financial Planning Has Failed, available as an audiobook. Visit our site and download your free copy now!

Show Notes:

[0:00] Prologue

[0:19] Intro

[1:12] Money Flows Out of 401(k)

[4:04] How Will This Affect the Stock Market?

[7:05] Explaining 401(k)

[9:05] Using That Money Elsewhere

[9:33] Self-Directed IRA

[11:11] Non-correlated Investments

[12:39] Creating Income

[14:11] Wrap-Up

[15:38] Outro

Kim Butler and Todd Strobel breakdown college and why the costs keep rising. They analyze higher education based on the Prosperity Principles and also from looking at the numbers. They take into account both the parent's and the student's prosperity as factors.

Are there alternatives to handling the cost of education? Yes, and we discuss why a 529 plan is NOT what we recommend.

Finally, we answer the age old question of, "What are they teaching kids these days?" in today's episode of the Prosperity Podcast.

We now have our ebook, Financial Planning Has Failed, available as an audiobook. Go here to get your free copy now! You'll get access to the PDF ebook along with the audiobook version.

Show Notes:

[0:00] Prologue

[0:19] Intro

[1:06] Why Does a College Degree Cost so Much? (Article)

[4:12] College by the Numbers

[5:38] Parent's Point-of-View

[8:36] Is College Teaching Prosperity Thinking?

[11:34] The Cost is MUCH More Than Just Tuition

[13:31] Underfunded Pensions and How They Affect College Costs

[14:12] An Expensive Question

[17:00] Pro-Prosperity Thinking

[18:56] Wrap-Up

[19:39] Outro

RESOURCES:

Tammi Brannan at Instinctive Life

Kim Butler and Todd Strobel discuss the importance of having meaningful conversations. They discuss the importance of keeping partners involved, informed, and prepared in case of an untimely crises or other changes.

The Big D's such as Death, Divorce, Debt, and Documents stage on today's episode of the Prosperity Podcast. How can you prepare for the unexpected? Find out on today's show!

Show Notes:

[0:00] Prologue

[0:19] Intro

[1:15] How to Prepare for Crises – Communication is KEY!

[4:13] Put it on Paper – FiveWishes.org is a great resource, Quickbooks, Mint.com

[7:15] Dealing With "The Problem" – What happens when one spouse doesn't want the other to know?

[10:46] Pro-activity in Emergencies. – Use TheTorch.com

[13:33] Permission to Spend

[15:43] Financial Planning Has Failed

[16:36] Keep Sending Questions

[17:15] Wrap-Up

[17:39] Outro

Kim and Todd take up a conversation about having meaningful conversations. They discuss the importance of keeping partners involved and informed in case of an untimely crises. The four D’s take center stage on today’s episode of the Prosperity Podcast.

Kim Butler and Todd Strobel continue their discussion on mortgages. They show how debt and mortgages are intertwined and how it's not a bad thing.

Reverse mortgages are also discussed and can be recommended to a specific audience. Yet Kim proposes a specific solution. The Prosperity Principles are on full display in today's episode of the Prosperity Podcast.

Show Notes:

[0:00] Prologue

[0:19] Intro

[1:07] "HAVING" Debt vs. Being "IN" Debt

[3:12] Debt, Peace of Mind, and the Unique Role that Mortgages play in Debt

[6:32] Why We Became Afraid of Mortgages

[9:12] Interest Vs. Tax Deduction

[11:11] Reverse Mortgages Can Provide Tax-Free Income (but this should NOT be the goal!)

[14:14] What To Do with Extra Money Each Month (How to keep control of it!)

[15:35] The DANGER of Pre-Paying Your Mortgage! (from a former mortgage banker)

[16:30] Get the Prosperity Accelerator Pack or just Financial Planning Has Failed

[17:11] Wrap-Up

[17:49] Outro

Kim Butler and Todd Strobel set their sights on mortgages in this episode, analyzing different strategies by using the Prosperity Principles to uncover the best options. They discuss down payments, compare 15 vs 30 year mortgages, and tackle other questions to consider when getting a mortgage, with some surprising answers!

How big should your down payment be? Is a 15 or 30 year mortgage more efficient in the long run? What is the value of your cash down payment, or your cash flow? And is there value in "peace of mind", even if it means choosing a less effective economic strategy? Find out in today's episode of the Prosperity Podcast.

Show Notes:

[0:00] Prologue

[0:19] Intro

[0:41] Mortgages – the Largest Debt Many People Have (and greatly misunderstood)

[2:01] Questions to Ask… Your Cash has a Cost

[3:33] Considering the Amount to Put Down

[8:11] 15 or 30 Year Mortgages (and how to compare correctly)

[12:16] How to be More Prosperous by "Investing the Difference"

[17:03] Summary of Recommendations

[17:57] Outro

Why you DON'T want to pay your mortgage off too quickly! Kim and Todd discuss down payments, compare 15 vs 30 year mortgages, and tackle other questions to consider when getting a mortgage, with some surprising answers!

What is the value of your cash down payment, or your cash flow? And is there value in “peace of mind”, even if it means choosing a less effective economic strategy? Find out in today’s episode of the Prosperity Podcast.