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The Stock Market is Rigged (in case you didn’t know)

“The United States stock market, the most iconic market in global capitalism, is rigged.”
- Michael Lewis, author

The Stock Market is Rigged (In Case You Didn't Know)On March 31, Michael Lewis’s Flash Boys: A Wall Street Revolt  was released to an expectant audience, some of whom had watched the author’s explosive and controversial interview the night before on CBS’s 60 Minutes. Creator of other popular books such as The Big Short, MoneyBall, and Liar’s Poker, Lewis has a knack for telling stories that involve math and finance.

In this story, Lewis tells of Wall Street insiders who started to realize around 2008 that the markets were behaving oddly. They would go to purchase stocks or commodities at the current price, and find that the order, or portions of a larger order, could not be filled at that price.
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How Do You Measure Success? Thriving with The Third Metric

“Don’t just go out there and climb the ladder of success. Instead, redefine success. Because the world desperately needs it.”

Thrive-the-third-metric-Arianna Huffington in an interview for Forbes.com

Born in Greece, educated at Cambridge, and now a well-known American entrepreneur and author, Arianna Huffington has achieved success in almost every way you can imagine. And for her next success, this woman – who has been named by Time magazine as one of the world’s 100 Most Influential People more than once – is leading a movement to redefine success itself.

A syndicated columnist, former wife of a Congressman and sometimes-controversial media figure, Arianna has authored best-selling books, co-hosted a popular radio show, challenged Arnold Schwarzenegger in an election, and been nominated for an Emmy (as a writer for Politically Incorrect.) Continue reading

Posted in ENTREPRENEURSHIP, HEALTH and WEALTH, PROSPERITY MINDSET | Tagged , , , | Leave a comment

How to Buy Life Insurance for a Child

“The sooner you save, the faster your money can grow…”
-Forbes.com, “The Five Most Important Money Lessons to Teach Your Kids

Piggy bank familyAre you considering buying life insurance for an heir?In last week’s post, “Life Insurance for Children and Grandchildren – The Surprising Benefits,”we revealed why many people decide to get life insurance for children, from newborns to adult children. Among the benefits:

  • In a properly constructed policy, the cash value of a policy on a younger insured grows at an attractive rate of return for the policy owner, with no downside risk.
  • Life insurance represents unparalleled estate planning benefits, such as the ability to transfer assets to the insured free of income, state, or gift taxes.
  • Policy owners appreciate the liquidity and flexibility of the cash value, including the ability to collateralize it or use it themselves, if needed.
  • The policies offer protection from financial loss, including the loss of income of a grieving parent.
  • Insuring a child guarantees future insurability. Continue reading
Posted in CASH VALUE INSURANCE, FAMILY and FINANCES, INSURANCE ADVICE, WHOLE LIFE INSURANCE | Tagged , , , | Leave a comment

Life Insurance for Children and Grandchildren? The Surprising Benefits

“If you want to start an argument, ask a group of financial advisers what they think about buying life insurance for children.”
- Bankrate.com

life-insurance-for-kidsShould you get life insurance for a child? Don’t people only “need” life insurance if they have a family to support? Why do people insure their children and grandchildren, and does it make sense to insure an heir?

We believe that life insurance is a WANT, not an absolute need, and there are several reasons why a lot of people – who have done their due diligence – WANT to get life insurance for their children.

As a matter of fact, at Partners for Prosperity, we’ve received more and more requests recently from people who want to set up life insurance policies on their children! Why? There are many reasons – we give you five below – and often, the biggest reason is the first:

1. People desire to maximize the growth of their savings (cash value) in tax-advantaged whole life policies. The younger the insured is, the lower the cost of insurance is within the policy, which means that cash value grows more quickly and at a faster rate. The internal rate of return on a whole life policy on a younger person engineered for maximum cash value (maximizing paid-up additions) is currently around 5%. That’s about 500 – 5,000% better than most bank CD rates.

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Posted in CASH VALUE INSURANCE, FAMILY and FINANCES, INSURANCE ADVICE, WHOLE LIFE INSURANCE, WILLS and ESTATE PLANNING | Tagged , , , | Leave a comment

Talking About Money: The Challenge of Financial Shame

“Money is the last taboo.”
-Robert G. Allen

money-and-shame-bag-on-headPeople talk about all kind of things with each other, in person, through email, even on social media for the world to see. “TMI” is now part of our vocabulary, because we’re all familiar with the phenomenon of over-sharing and “too much information”!

Yet, for the vast majority of people, the topic of money is still just “not polite conversation.” Financial blogger J.D. Roth asks his readers, “Why Don’t People Talk About Money?” And in The Number, former Esquire editor Lee Eisenberg describes how posing simple financial questions during his research for the book raised anxieties and branded him as bad company at times.

We’re not suggesting that your personal finances become next topic for coffee shop and Facebook conversations, but here’s the deal:

Sometimes we need to talk about money… but we still don’t. Continue reading

Posted in DEBT SETTLEMENT, FISCAL FITNESS, PERSONAL FINANCES, PROSPERITY MINDSET | Tagged , , , | Leave a comment

Something for Nothing: 3 Investment Traps

“Everyone loves something for nothing… even if it costs everything.”
-Stephen King

dealer holding something on palms of his hands“When we try to get something for nothing (or next to nothing), we often end up with… NOTHING!” said Partners for Prosperity’s Kim Butler  on this week’s Guide to Financial Peace Radio show.  Everybody loves a deal, but it’s not such a deal when we sabotage ourselves with failed strategies.

We see the desire to get “something for nothing” in the gambling halls and lotteries. We see it with those who try crash diets and end up in worse shape than before. And we see it in the financial rabbits that people chase into holes that become difficult to dig their way out of, often led by media and advertisements that perpetuate “easy money” myths.

Have you fallen for a Something for Nothing myth? Here are some of the most common traps that snare investors and entrepreneurs: Continue reading

Posted in INSURANCE ADVICE, INVESTING ADVICE, PERSONAL FINANCES, WEALTH-BUILDING | Tagged , , | Leave a comment

Why Entrepreneurs Rule the World

“In case you didn’t get the memo, jobs are dead.”
-Kate Phillips, Total Wealth Coaching

This week we are proud to feature a guest post by Kate Phillips in celebration of independent entrepreneurs who have left paychecks behind to create their own source of income. A “brief history of business trends, and 7 reasons why self-employed business people are the salt of the earth,” this article was first published on Biznik.com (an online-and-beyond community for “solo-preneurs” and indie business people) in the wake of the 2008-2009 market crash. The original article has been read over 13,400 times and generated over 100 comments.

Why Entrepreneurs Rule the World

Why Entrepreneurs Rule the World

Once upon a time… the world was full of small business people and independent entrepreneurs.  Every town had a butcher, a baker, and a candlestick maker.  A blacksmith, a barber, and a farmer (or two).  A shepherd, a weaver, and a preacher.  There were no factories, no corporations, and… no employees.

With the Industrial Revolution, the urban centers grew, and more and more people began to “go to work” for fewer and fewer people.  Employees and employers were born.  Traditional family trades gave way to companies and corporations, and now mothers, fathers, sometimes even children went to factories for work.

An era of prosperity in the 20th century saw the birth of “homemakers.”  No longer working in the fields or the factories, children concentrated on school and home chores, while moms cooked, cleaned, and volunteered.  (Mere decades later, evangelists would proclaim this the “traditional family,” the way it had always been.  Dad brings home the bacon, mom fries it up in a pan.  Amen.)  Continue reading

Posted in ECONOMIC TRENDS, ENTREPRENEURSHIP, PROSPERITY ECONOMICS, PROSPERITY MINDSET | Tagged , , , , , | Leave a comment