The Prosperity Blog

Live Long and Prosper: 5 Ways to Never Run Out of Money!

A 2019 survey by AIG Life & Retirement revealed a surprising 53 percent of respondents had living to 100 as a goal. Today, more Americans than ever are reaching this goal. According to Wikipedia, there are nearly 1400 centenarians in the US alone—a number that has more than doubled in less than a decade. With continued medical breakthroughs, we expect this number to keep growing!

This may be good news for some, but for others, longevity presents financial challenges. According to Forbes.com, running out of money in the future is the #1 financial fear for Americans. As a matter of fact, most people are more afraid of running out of money than they are of dying!

Fortunately, it doesn’t have to be that way. With some proactive thinking and the right strategies, you can have confidence your money will last as long as you do. In this article, we’ll give you five strategies for greater cash flow and confidence as you age.

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Convertible Term Insurance: The Third Option

“The third option is that other possibility…”
– Lynn Barrette, Counselor and inspirational blogger

Life Insurance: It’s Not An Either/Or Decision

“Whole Life or Term Insurance?” It’s a never-ending debate amongst financial advisors and self-proclaimed experts. Today, we’d like to suggest a third option.

But first… let’s summarize the two most popular and obvious choices:

Term life insurance is life insurance purchased for a limited time, such as 15 or 20 years. Term insurance is affordable, providing the insured with more coverage for less premium. Thus it puts a greater protection in place, in the form of a death benefit. However, term life insurance policies rarely provide that benefit, because of the limited time frame of the coverage. They are less expensive because they almost always expire (like product warranties) before they’re likely to be used.

Like most other insurances, term life is an “if” insurance, not a “when” insurance. A benefit is paid only IF your house burns down, IF your car is vandalized, or IF someone passes away long before expected.

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Buying a New Car? What to Consider in 2021

“I’ve always been asked, ‘What is my favorite car?’ and I’ve always said ‘The next one.’ ”

Carroll Shelby, American automotive designer and racecar driver

Are you considering buying a new car—or perhaps a used car this year? If so, you’re not alone. And there are some things to be aware of in the current environment that can help you make the best choice!

In this article, we’ll consider:

  • The trends that may impact your vehicle’s future value
  • How to buy a vehicle in the most financially-savvy way
  • What to know before you negotiate
  • Helpful resources to assist you.

One of my mentors, Peter Diamandis, predicts that self-driving cars will make car ownership a thing of the past for urban dwellers within a few years. Already, we’ve seen taxis, Uber, Lyft, and public transit replace car ownership for many in cities such as New York and San Fransisco. The transportation-as-a-service trend continues, but it hit a hitch in 2020.

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7 Habits for a Wealthy New Year

For most people, 2020 went down as the year that did not go quite as planned. Which reminds me of the saying, “Man makes plans, and God laughs.”

We have limited control our circumstances and our environment. Likewise, we have only partial control of our results. As James Clear points out, every athlete strives to win the race or the gold medal, but only one will.

What we CAN control is ourselves.

You determine your thinking and your behavior.

We’re not sure who said it first (it’s been attributed to Abraham Lincoln, Peter Drucker and others), but we love the saying: “The best way to predict the future is to create it.” And the best way to create that future is through focusing your thoughts and actions towards the future you want.

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A Season of Giving

With Christmas upon us, it’s easy to see
shelves of things we’d like to receive. 
While freedom of money and freedom of time,
means finding enjoyment and feeling sublime, 
let’s remember what holidays are about

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Is College Still Worth It?

Is College Still Worth It?

Is a college degree worth the investment of time and money? Is a degree still a prerequisite for success? What does it really cost, who pays the price, and how does one make the most of the investment?

These are questions that students and parents alike are beginning to ask. Especially now, with many colleges are offering only virtual classes, questions about the value and fit of college are louder than ever.

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SELF-INSURANCE: A DIY Project to Avoid!

Ever take pride in something you did on your own? It could be something as simple as preparing an expense tracking sheet or as involved as a home repair. American society celebrates those that are self-made. It’s why we hold entrepreneurs on a pedestal; like Steve Jobs that took Apple from a garage to the iconic company, it is today. The American dream still holds power today, founded on the principles of working hard, being self-sufficient, and tackling the world one day at a time.

But when it comes to insurance, is it the right choice to “do-it-yourself”? “Self-insurance” is the idea that one can insure themselves by simply building more assets. Unfortunately, the reality of “self-insurance” is that it is no insurance at all.

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