Wealth Renegade

Buying your first home is a wild experience; you learn so much in a short amount of time. Financial transactions, responsibility, the negotiation process, different home systems, and the financial opportunities of being a first-time homebuyer will be some of the topics addressed in this episode!

Highlights

• Robby's friends and their first time home buying process - 1:41
• Homeshopping Zillow funny video - 2:44
• Getting "pre-approved" - 3:34
• What does "pre-approval" mean? - 5:24
• The minimum time payment is the best - 7:03
• Private mortgage insurance - 8:32
• "Busting the Interest Rate Lies" book - 15:00
• First time home buyers need to be aware of these financial things - 16:09
• A friend that recently bought a home - 19:52 Episode Resources
• Homeshopping on Zillow funny video link: Pretend You Can Afford a Home with Zillow
• Busting the Interest Rate Lies book (audibles link): https://smile.amazon.com/Busting-Interest-Rate-Lies-Discover/dp/B01IRGYVRQ/ref=tmm_aud_swatch_0?_encoding=UTF8&qid=1609552946&sr=8-1
• Connect with Kim Butler and Robby Butler
• www.wealthrenegadepodcast.com
• www.prosperityeconomics.org
• [email protected]

What do you do if your opinion differs on what your parents think? Robby and Kim talk about what you can do when you do not think the same as your parents.

Highlights

• Being in "learning mode" - 1:21
• Not knowing much about personal finance - 1:55
• The learning curve - 2:34
• Do not take it "personally" - 3:32
• Not fighting over the idea - 4:12
• The cost of many fights in family - 4:45
• An ownership obsession - 5:10
• Having conversations about money - 7:43
• The Perpetual Wealth Book - 13:09
• Explaining yourself in a humble way - 15:08 Episode Resources
• Connect with Kim Butler and Robby Butler
• www.wealthrenegadepodcast.com
• www.prosperityeconomics.org
• [email protected]

What are the different types of financial advisors? Kim and Robby talk about what they are and how they can help you.

Highlights

• Deciding to do the right thing for your client - 2:08
• A certified financial planner - 3:26
• How wealth is made - 4:22
• Accumulating the wealth or building the wealth - 4:58
• Advisors that help people - 5:55
• Seeking out financial advisors - 6:54
• The time value of money is a fundamental concept - 7:36
• Questions that you should ask a financial advisor - 9:36
• A variety of series - 13:00
• The life insurance license - 15:54
• Become conscious of the space - 21:13 Episode Resources
• Connect with Kim Butler and Robby Butler
• www.wealthrenegadepodcast.com
• www.prosperityeconomics.org
• [email protected]

Kim and Robby Butler discuss the different types of debt. Kim explains the difference between good debt and bad debt and how it affects your finances.

Highlights

• Credit card debt, home debt, and car debt - 0:50
• Good debt and bad debt - 1:24
• Secure debt and unsecured debt - 2:30
• When good credit comes in - 4:56
• What unsecured debt does for you - 6:46
• Struggling with debt - 12:44
• What it means to be "in debt" - 14:07
• The time value money concept - 16:42
• Finance everything you buy - 17:23 Episode Resources
• Connect with Kim Butler and Robby Butler
• www.wealthrenegadepodcast.com
• www.prosperityeconomics.org
• [email protected]

Financing furniture and cars… Kim and Robby talk about these two first purchases that you make in life.

Highlights

• Not everybody has car loans - 1:09
• The book: Economics in One Lesson - 2:20
• Mistakes on car financing - 3:55
• Paying cash for the car - 8:53
• Driving by the furniture stores - 9:22
• The mindset is SO important - 15:39

Episode Resources

• https://smile.amazon.com/Economics-One-Lesson-Shortest-Understand/dp/0517548232/ref=sr_1_2?crid=2Z1X4SNLDXYEA&dchild=1&keywords=henry+hazlitt&qid=1607700436&sprefix=henry+haz%2Caps%2C184&sr=8-2
• https://smile.amazon.com/Didnt-They-Teach-This-School/dp/1481027565/ref=sr_1_1?dchild=1&keywords=cary+siegel&qid=1607702234&sr=8-1
• Connect with Kim Butler and Robby Butler
• www.wealthrenegadepodcast.com
• www.prosperityeconomics.org
• [email protected]

What does credit mean for your financial life? Kim and Robby dive into credit, credit cards, and their first memories of credit.

Highlights

• The concept of credit - 1:09
• Debit cards and credit cards - 3:53
• What you can do with a credit card - 4:11
• Interest payments and rates - 5:53
• Not having credit availability - 7:35
• Companies that provide credit scores - 8:13
• Your cell phone bill can impact your credit - 12:30
• If you're late on your payments, that can affect your credit - 13:00
• Getting a free credit report - 16:14
• Things that cause credit scores to go down - 18:02
• Searching for a home loan - 20:46
• Making significant financial decisions - 23:16

Episode Resources

• www.nationalcreditcare.com
• Connect with Kim Butler and Robby Butler
• www.wealthrenegadepodcast.com
• www.prosperityeconomics.org
• [email protected]

Do you have a what-to-do list for your daily tasks? Well, probably you should have a "what not to do list" Kim and Robby explain why!

Highlights

• Figuring out what not to do - 1:08
• Investing in art - 1:43
• Invest in what you know - 2:59
• Helping people with alternative investments - 5:31
• Willing to know as much as possible - 7:59
• Do whatever it takes to learn - 9:35
• Robby's not to do list - 11:09
• Not paying too much attention to the news - 12:00
• Not watching TV - 16:23 Episode Resources
• Connect with Kim Butler and Robby Butler
• www.wealthrenegadepodcast.com
• www.prosperityeconomics.org
• [email protected]

Kim and Robby dive into principles 9 to 12 which are principles of prosperity. They share their experiences with these principles and encourage you to use them in your day-to-day life. Having principles around your money will help you in your financial life.

Highlights

• Actuarial Science - 1:33
• Why Actuarial Science and life expectancy are important - 1:48
• The multiplying principle - 3:50
• What's multiplying the effects of your dollars - 5:12
• The leverage principle - 5:56
• The principle of uncertainty - 7:25
• A life without uncertainty would be so boring - 8:01 Episode Resources
• Busting the Real Estate Investing Lies book link: https://smile.amazon.com/Busting-Real-Estate-Investing-Lies-ebook/dp/B07RJ1ZY44/ref=sr_1_3?crid=ZJF7SXGJZBVA&dchild=1&keywords=busting+the+real+estate+investing+lies&qid=1611073469&sprefix=busting+the+real+e%2Caps%2C170&sr=8-3
• Connect with Kim Butler and Robby Butler
• www.wealthrenegadepodcast.com
• www.prosperityeconomics.org
• [email protected]

Kim and Robby continue their discussion of the principles of the Prosperity Economics Movement, and the importance of having principles, and today they explain principles 5 to 8.

Highlights

• The fifth principle: control - 0:55
• A good thing to pay attention to - 2:42
• The sixth principle: liquidity - 3:08
• Having an opportunity fund - 4:02
• Why liquidity is so important - 5:50
• The economic rates principle - 6:03
• Averages and rates of return - 7:45
• The certainty principle - 9:36
• What's having certainty in your financial life? - 10:06 Episode Resources
• https://prosperityeconomics.org/money-myth-6-average-ror-reflects-actual-ror/
• https://www.investopedia.com/
• https://fee.org/
• Mary Kimball Morgan quote: "I find that progress is essential mentally before there can be any externalization of real progress. If I excavate and lay the foundation for a bungalow, I cannot use that foundation for a skyscraper. I must think of a "skyscraper" and adjust my thoughts to its size and demands." - "Education at The Principia" by Mary Kimball Morgan, p. 92
• Connect with Kim Butler and Robby Butler
• www.wealthrenegadepodcast.com
• www.prosperityeconomics.org
• [email protected]

There's more out there for you as an investor! Find your own success and prosperity by understanding the idea of having principles.

Highlights

• The idea of having principles - 1:27
• The principle of "think" - 2:01
• Your personal finances should be thinkable - 2:28
• Thinking with a prosperous mindset - 3:15
• The process of buying his first home - 4:45
• Understanding the term "opportunity cost" - 6:23
• What cash flow is - 9:34
• What's cash flow out - 10:20
• Seeking investments that provide cash flow in - 10:56
• The 4 principles - 13:00
• Principles are practicable - 15:09 Episode Resources
• Connect with Kim Butler and Robby Butler
• www.wealthrenegadepodcast.com
• www.prosperityeconomics.org