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Planning for Going from ‘We’ to ‘Me’

The Importance of Opening a Dialogue About Your Assets, Medical Wishes, and More

P4P023-PlanningForGoingFromWeToMeKim and Todd take up a conversation about 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! Continue reading

Posted in ORGANIZING YOUR FINANCES, Podcast | Leave a comment

Collateral Assignment: Banking on Your Life Insurance Policy

 “Many consumers forget a life insurance policy is another tool they can use as an asset to borrow money.”
 – Larry Ziegenfuss, Senior Vice President, Conestoga Bank

Grunge rubber stamp with text Loan Approved,vector illustrationThere’s a trick to borrowing money at favorable interest rates. The trick is having rock-solid COLLATERAL that is just as good as (or better than)  “money in the bank.”

There’s also a trick to borrowing money without having to demonstrate income, prove your credit-worthiness, show your ability to pay it back, and defend your reason for borrowing it.

One of the significant advantages of a participating (dividend-paying) whole life insurance policy is exactly this: the policy builds cash value that you can borrow against at any time, for any reason, without a credit check or even an application process. Continue reading

Posted in CASH VALUE INSURANCE, INSURANCE AS AN ASSET, WHOLE LIFE INSURANCE | Tagged , , | Leave a comment

Debt: Easy as Pie

Handling Your Mortgage Debt Can be as Easy as Pie

P4P022-DebtEasyAsPieKim and Todd 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. Continue reading

Posted in MORTGAGES, Podcast | Leave a comment

Mortgages: Faster Isn’t Always Better

Why You DON’T Want to Pay Your Mortgage off Too Quickly!

P4P021-MortgagesBiggerIsntAlwaysBetterKim and Todd 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. Continue reading

Posted in MORTGAGES, Podcast, REAL ESTATE | Tagged , , , | Leave a comment

Kick-Start the Savings Habit

“As important as I think (saving) is, national savings has always been relegated to the B list of economic measures.”
 Edward M. Gramlich, Board of Governors of the Federal Reserve from 1997 – 2005

Woman Putting Coin In Piggybank

Believe it or not, there was a time not long ago when Americans tracked their savings instead of their credit card debt! Now saving money seems like a memory from yesteryear. To be sure, many Americans set aside money, but it goes straight into mutual funds, often by way of 401(k)s and other qualified retirement accounts, where it is no longer liquid, guaranteed, or under their control.

These days, we are so eager to run that we forget to walk first! We neglect saving in order to “invest,” when both are necessary. Saving money provides the crucial foundation that allows us to then invest successfully. 

In his book Pound Foolish, Steve Utkus points out that before the rise of the financial planning industry in the 1970s, the cornerstones of personal finance were “savings Continue reading

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When Did Economics Become Politically Incorrect?

The Difference Between Economics and Politics (and Why it Matters)

P4P-020-SticktoYourEconomicGunsDaring to be “politically incorrect,” Kim and Todd attempt to break down the stigmas between economics and politics. Obamacare and the language of economics are discussed, along with the challenge of having honest and open conversations about economics. Is there any room for political correctness in economics? How are Todd’s economic discussions affecting his dating life? Find out in today’s episode of the Prosperity Podcast!

[0:00] Prologue

[0:19] Intro

[1:40] Consequential Discussions Continue reading

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The Facts of Life Insurance

Understanding Life Insurance Rates of Return, Insurability, and Insurable Interest

P4P-019-TheFactsofLifeInsuranceOn today’s episode of the Prosperity Podcast, Kim and Todd analyze whole life insurance rates of return for different age brackets. Surprisingly, this reveals that “you’re never too old for life insurance!” The current net rate of return is discussed.

Finally, if you do not qualify for life insurance due to health or lifestyle risk factors, have you considered the alternatives to insuring yourself? There are ways to be the policy owner without having to qualify for life insurance if you can establish an insurable interest in someone else, such as a child, grandchild, business partner or key employee.

Kim and Todd also discuss something she is very proud of: Kim’s daughter, Kaylea Butler has released a book, Every Day is A Miracle: Lessons from Susan Rammekwa.. The book be purchased on Amazon.com. Continue reading

Posted in CASH VALUE INSURANCE, INSURANCE ADVICE, INSURANCE AS AN ASSET, Podcast, WHOLE LIFE INSURANCE | Tagged , , , | Leave a comment