The Prosperity Blog

Success Lessons: 10 Ways to Win at Money, Work and Life

I’ve been blessed with parents, mentors, and role models who have invested in my success. And in turn, I have been told by numerous other advisors and individuals that they count ME as one of their success mentors! (Read about Kim Butler if we haven’t “met”.) I consider it a great privilege to have helped others.

In this article, I’m sharing 10 success principles that have been essential guideposts in my life and work. Most have been gleaned from my own mentors, although perhaps re-phrased a bit. They are the timeless principles I’ve discovered along the way that have made a difference for me. And whether you are a financial advisor, a business owner, a student or an employee, you can apply these 10 principles to transform YOUR results!

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Where to Invest—and NOT invest—in 2020

Where to Invest—and NOT invest—in 2020In the last 12 months, our opinion about certain investments has not fundamentally changed. You could call us predictable—but we prefer to say that we are consistent! We also believe in strategies that work in every economy.

A summary of investments and assets we believe can be suitable for some investors:

We like life settlements for asset growth without the roller coaster ride of the stock market. We appreciate the fact that life settlements are completely immune to stock market volatility, interest rate fluctuations, and geopolitical turmoil!

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The No-Buy-Year Movement: Freedom from Overspending

The No-Buy-Year MovementI declared to myself I would buy no clothes and no skin care products in 2019. I had plenty of clothes and there was nothing I needed. And although I do attend professional events and conferences, much of my time is spent home on the farm, where I dress in jeans and the alpacas don’t care. And embarrassingly, I had a whole drawer of skin care products I had received on autoship… barely used. And so, in these two categories, I declared a “no buy year.” And so it was! It felt so good to actually USE what I already had rather than buy what I didn’t really need.

Although I didn’t realize it at the time, there is a growing whole “No-Buy Year” movement! Kate Phillips, my article co-author, helped me research the trend that is helping thousands of consumers free themselves of patterns of overspending.

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7 Keys to Intention-Setting for the New Year

Today’s article on intention-setting is a guest post from Kate Phillips of Total Wealth. Kate is also the co-author (with yours truly, Kim Butler) of Perpetual Wealth and Financial Planning Has Failed.

“Go confidently in the direction of your dreams. Live the life you have imagined.”
— Henry David Thoreau

new year intention-settingAladdin’s lamp, wishing wells, magic wands and fairy godmothers symbolize our desires to turn our dreams into reality. But if you’re short on fairy dust or skeptical about lamp-rubbing, I recommend intention-setting.

Intention-setting is a twist on traditional goal-setting and an upgrade to the practice of making New Year’s Resolutions. It is also a powerful step towards a fulfilled life.

Intention-setting brings your desires into focus, offers clarity and creates momentum. It can also save years of misdirected energy and efforts. As Steve Pavlina writes, “If you don’t take the time to get really clear about exactly what it is you’re trying to accomplish, then you’re forever doomed to spend your life achieving the goals of those who do.”

In this article, I share why intention-setting trumps New Year’s resolutions, and seven keys for doing it effectively.

Creating an intention-setting tradition.

Over the last 15 or so years, intention-setting has become an essential practice in my life. It allows me to step back from my life to evaluate what’s truly important. What’s working—and what’s not. It’s a time to course correct, create what’s next, and become a truer version of myself.

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Year-End Review: Financial Checklist and Prosperity Principles

“An investment in knowledge pays the best interest.”
―Benjamin Franklin

prosperity economicsWe practice Prosperity Economics—an alternative to typical financial planning. Prosperity Economics teaches us to keep control of our own dollars and build sustainable wealth that expands our choices and cannot vanish in a stock market crash.

Typical advice brings typical results and typical challenges!

Typical financial advice tells us to load up our portfolios with mutual funds and stocks subject to systemic risk.

Typical financial advice instructs us to max out our qualified accounts, putting dollars out of reach and out of our control—under the government’s (and our employer’s) rules.

Typical financial planning tells us when and how much of our own money we can have back (and the government tells us what their cut is.)

Typical financial advice tells us to pay off our mortgage as quickly as possible—even though it is efficient debt, and even though it’s usually smarter to put additional dollars into investments rather than into home equity.

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Building a Portfolio of Multiple Life Insurance Policies

Building a Portfolio of Multiple Life Insurance PoliciesAn investment portfolio will typically contain a range of diverse investments. With different asset classes, industries, and financial vehicles, a well-designed portfolio prevents you from “putting all your eggs in one basket.”

Many portfolios begin quite simply, for instance, with a savings account and an index or mutual fund. Then, as the portfolio and its owner matures, other assets are added. Over time, a portfolio might include:

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The 9-Step Prosperity Roadmap

(And why we don’t believe in “financial plans.”)

Everyone loves certainty. They want to be told what result they will get if they take a certain action. Financial planning tries to offer this certainty. “Save $1,000 a month in your 401(k) and you’ll have a net worth of $X and a retirement income of $Y/year!”

However, financial plans tend to offer little actual financial certainty.

There’s nothing wrong with crunching numbers and estimating returns (my husband builds financial software that does just that!) Just be very cautious. Realize that financial plans are only a “best guess”—and guesses are almost always wrong.

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Advisory services are offered through Prosperity Economics Partners, LLC (“PEP”) a Registered Investment Adviser with its principal place of business in the State of Texas. The advisory services offered by PEP are in no way affiliated with the services or products offered by Partners for Prosperity, LLC or the Prosperity Economics Movement. PEP only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. PEP’s Investment Adviser Representatives may only conduct investment advisory business with residents of States and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed.

This website is provided for informational purposes only. The information contained herein should not be construed as the provision of personalized investment advice. Information contained herein is subject to change without notice and should not be considered as a solicitation to buy or sell any security or investment. Investing involves the risk of loss and investors should be prepared to bear potential losses. Past performance may not be indicative of future results and may have been impacted by events and economic conditions that will not prevail in the future.