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. They are not about financial planning. 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!
In 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. Financial planning without investment management can be hard to do. (Check out Our Ultimate Guide to Financial Planning Myths for our top alternatives to investing.)
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!
I 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.
“Go confidently in the direction of your dreams. Live the life you have imagined.” — Henry David Thoreau
Aladdin’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.
“An investment in knowledge pays the best interest.”
We 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.
Today we’ll review the 7 Principles of Prosperity™ that guide our strategies and actions. These principles (along with a lot of testing on calculators and in the real world) inform “why” we do things the way we do.
Then we’ll share our Annual Review Checklist, which represents the quick distilled “bullet points” or what to DO when practicing Prosperity Economics.
An 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:
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.
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.
Yes, send my FREE Prosperity Accelerator Pack including:
Financial Planning Has Failed Ebook
Kim Butler’s 7 Principles of Prosperity™️ Audio, Video, and Summary