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6 Ways to Save a Life Insurance Policy (even if you can’t afford the premiums)

“I bought a new life insurance policy but the small print is impossible to understand. All I´m sure of is that after I die, I can stop paying.”

Insurance ConceptDo You Want to Stop Paying Your Life Insurance Premiums?

What happens when a policy has been started but the policyholder or payor doesn’t want to keep paying the premiums? Or when they can’t afford the premiums any longer?

If payments are stopped, they could lose the policy, just as a homeowner will go into foreclosure if they stop making mortgage payments before the home is “paid up.”

But there are other options to simply letting a policy lapse! These options are well-worth considering, especially because: Continue reading

Posted in CASH VALUE INSURANCE, FAMILY and FINANCES, INSURANCE ADVICE, INSURANCE AS AN ASSET, LIFE SETTLEMENTS, ORGANIZING YOUR FINANCES, WHOLE LIFE INSURANCE, WILLS and ESTATE PLANNING | Tagged , , , | Leave a comment

Busting the Retirement Lies – Now on Audible.com!

“This book is so spot on… Truly a must read!”
– Amazon review for Busting the Retirement Lies

retirement-audio-book-cover

Kim Butler’s Personal Finance Books on Audio
Busting the Retirement Lies is practical book for anyone open to re-thinking “retirement.” Perhaps you’re 50+ and feel panicked and “not ready” to retire, financially or otherwise. You could be any age and curious if your 401(k) will really work the miracles you hope it will. Or you might be almost-retired – or newly retired – and wondering what to do with yourself.

Get ready to reconsider everything you thought you knew about retirement and retirement planning in this uplifting yet highly practical book. From number-crunching to inspirational stories of role models of those who have busted the myths of aging, you’ll find yourself opening to new possibilities about what it means to “live long and prosper.”

Not only is Busting the Retirement Lies now available on Audible.com, but our book trailer is also out (trailers aren’t just for movies anymore!): Continue reading

Posted in PERSONAL FINANCES | Leave a comment

The Prosperity Economics Revolution

“Financial planning doesn’t work.”
- Kim D. H. Butler, author of Busting the Financial Planning Lies

time for changeFinancial Anxiety, Anyone?

Feeling nervous about where the stock market might be headed after its recent climb?

Nervous about where taxes might be going?

How about what might happen with Social Security? Or the economy, interest rates, the stability of our banking system and inflation?

You’re not alone.

Anybody who is paying attention can’t help but observe the similarities between today’s economic and market conditions and those preceding the Financial Crisis of 2007 – 2009. Last month Market Watch declared we are in Continue reading

Posted in PROSPERITY ECONOMICS, WEALTH-BUILDING | Tagged , , , , , | Leave a comment

The Accumulation Trap: Why You Must Keep Your Money Moving!

“I want my money to be like a river, not like a pond.”
- Lisa Sasevich, Inc. 500 business owner

Money TrapWe said in our last article, we’re tired of “investing” being equated with the stock market/ mutual funds! Wall Street is NOT the only option!

We’re equally tired of “wealth” being equated with ACCUMULATION. Accumulation does NOT equal wealth and prosperity!

Financial planning teaches us to “Accumulate first, then Disburse.” Save and invest to accumulate ample assets – generally in a 401(k) and other assets based largely in stocks and mutual funds. Then someday, when you accumulate “enough” money in your accounts, you can stop working, begin the distribution phase, and live off of your assets (or the interest your assets produce.) Continue reading

Posted in CASH VALUE INSURANCE, PRINCIPLES OF PROSPERITY, PROSPERITY ECONOMICS | Tagged , , , | 1 Comment

Life Settlement Investments: Pros and Cons and Facts

“This might be the best investment you’ve never heard of.”
- Kevin Nichols, private equity fund manager

Are You an Investor Seeking Stock Market Alternatives?

Good InvestmentWe think that people are tired of the word “investment” meaning only the stock market. In broker-dealer circles, even “alternative” investments often refers to products within the mutual fund world, such as REITs (Real Estate Investment Trusts that are securities, not property) or mutual funds that invest in precious metals.

By contrast, life insurance is an entirely different beast, based on actuarial math rather than the rising and falling of stocks, funds, and indexes (though NOT classified as an “investment.”) However, there is a life-insurance based investment that has been gaining popularity with many corporate and sophisticated investors: life settlements.

Continue reading

Posted in ALTERNATIVE INVESTMENTS, LIFE SETTLEMENTS | Tagged , , , | 1 Comment

Tax Scams: Protecting Yourself from IRS Imposters 

“If someone calls you and tells you they are an IRS agent and tries to intimidate you… just be aware that is not what the IRS does, and you need to protect yourself.”
-Chris Anderson, Soulence Tax and Accounting 

Uncle Sam Want's YouChris and Kathy Anderson are accountants on a mission – not just to help clients save on their taxes, but to protect them from tax scams and people posing as the IRS.

Sound far-fetched? It’s not. Chris and Kathy themselves received fraudulent correspondence from “the IRS” three years ago, correspondence that even used the name of a real IRS employee. They dug further and found it was a scam, but a very convincing one.

While tax filing season is limited, tax scams can happen any time of year. And as technology allows scammers to become more sophisticated, it’s not hard to understand how even smart people can be duped into giving away their hard-earned dollars or sensitive information. Continue reading

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Financial Advice for Entrepreneurs:  AVOID Typical Financial Planning to Build Wealth!

“True financial security does not come from the government, corporations, benefits, and entitlements; it comes from within us. Taking responsibility for our wealth leads us to transcend false security to find both true security and freedom.”

– Garrett B. Gunderson, Killing Sacred Cows

Rise AboveWe don’t believe that typical retirement planning works well for anybody, but it’s especially disastrous for business owners and entrepreneurs. Why? A big reason is because typical financial planning focuses on locking up money in a (usually) tax-deductible qualified plan instead of enabling you to use that money to build your business.

Our friend Garrett Gunderson’s advice was recently featured in an excellent Forbes.com article, “The 13 Money Mistakes Most Business Owners Continue to Make.”  We encourage you to read the 13 mistakes in that article, and we wanted to offer our own short list of things that entrepreneurs and business owners SHOULD be doing. Continue reading

Posted in ENTREPRENEURSHIP, PROSPERITY ECONOMICS, WEALTH-BUILDING | Tagged | Leave a comment