The Prosperity Blog

Influence: What It Is and How to Have More

By Lou Pineda, Partners for Prosperity Advisor

“The key to successful leadership today is influence, not authority.”
—Ken Blanchard

Here at Partners for Prosperity, we are celebrating the 2018 Investopedia Awards, which recognizes the 100 most influential advisors in the United States. Our founder and fearless leader, Kim D. H. Butler, has once again been honored with the award! As Kim’s colleague, it’s my privilege to highlight the accomplishment of a wonderful individual who has influenced me greatly, along with seven principles that can help you expand your own influence. This is financial planning for millennials at its best.

According to Investopedia, traditional metrics such as “assets under management” (AUM) is not the best measurement of today’s advisors. Rather, the Investopedia 100 “seeks to measure influence… to quantify the impact that our advisors have on their clients and the broader financial community.”

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7 Strategies for More Income in Retirement

“Old age is always fifteen years older than I am.”
—Bernard Baruch, American financier, investor, statesman and philanthropist

Running out of money in retirement is one of the biggest fears people have. Unfortunately, for many Americans, it is a real risk, not an irrational phobia. If you retire at age 65 as a reasonably healthy non-smoker, actuarial tables estimate you’re likely to live to age 86, as a man, and 89, as a woman. This makes financial planning for retirement very tricky. And the longer you live, the longer you can expect to live. A 90-year old non-smoker has a good chance of living to age 95, as a man, and a 97, as a woman.

However, there’s no need to scrimp, save and worry your way through retirement with “extreme couponing” (yes, that’s a thing). Follow these seven strategies to live long and prosper, have more spendable income in retirement, and never run out of money! And check out our Ultimate Guide to Financial Planning Myths to take this a step further.

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A Home Buyer’s Guide for Wealth Builders

“Don’t wait to buy real estate; buy real estate and wait.”
—Will Rogers

A home is the biggest purchase most Americans will ever make. A house blurs the line between “asset” and “liability,” as it is usually both. And of course, a house is more than an investment—it is “home sweet home.” This makes financial planning to buy a house quite a challenge.

It is also a key to building wealth. Done wisely, purchasing a home can make a seven-figure difference to your future bottom line. Let’s look at the why’s—and how’s—of buying a home. (Up your home-buying game ever further by reading our Ultimate Guide to Financial Planning Myths.)

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5 Day Weekend: A Road Map to Freedom

 “I own my life. I set the terms. I take responsibility for my results.”
—Nik Halik and Garrett Gunderson, 5 Day Weekend

How to Finance the Life You Dream About

What would it be like to free yourself from the work grind AND have the money to do anything you want with your time?

Meet Nik Halik: a self-made multi-millionaire, wealth strategist, angel investor with businesses all over the world, and “adventure entrepreneur” who lives a lifestyle few can even imagine.

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12 Ways to Fund a Business—and 4 “Rules” to Remember

Joe Ruvacalba, a plumber-turned-entrepreneur from Rancho Cucamonga, California, started his own plumbing company with just $10,000, but soon encountered cash flow problems.

“Your first client check might not arrive for 30 to 60 days. But you still have to pay for labor and material and everything else,” Ruvacalba told a Money.CNN.com reporter in an article weighing the costs of cash advances.

Banks wouldn’t lend to Ruvacalba, so he resorted to a merchant cash advance. The first was for $50,000, and included another $20,000 in fees and other charges. It was paid back within seven months, but Ruvacalba’s challenges weren’t done. He saw the only way to grow his business, keep on top of his payroll expenses and pay back his previous cash advance was by securing more merchant cash advances.

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Are Stocks the Best Long-Term Investment?

Busting the Biggest Stock Market Myths

“Learn about different investment vehicles and asset classes and… you can make confident, informed choices about what’s best for you.
I am very concerned about the millions of baby boomers who are counting on the stock market to deliver them a safe, sound, long retirement. I am afraid the baby boomers who are counting on the stock market are in trouble.

—Robert  Kiyosaki, 2014 interview

Three of the most pervasive myths perpetuated by typical financial advice are:

  1. The stock market is the best place to invest long-term,
  2. Bonds are the best place for your safe and steady money, and
  3. The trick to successful investing is simply balancing how much you have in stocks and how much you have in bonds, according to your risk tolerance, age, and other factors.

Today, we’re calling “BS” on this limited thinking!

Last week, we issued a warning about bonds in 2018, asking if bonds were still a good place for safe money. (The short answer was, “No.”)

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Warning: Are Bonds a Bad Bet in 2018?

Bond volatility increases while profits vanish

If you’ve been paying attention, you’ll know that bonds aren’t what they used to be. Values are declining, risk is up, investors are selling, bond funds are underperforming, and municipal bonds are no longer the safe haven they once were.

With the demise of the bond insurance industry in the financial crisis, credit quality in the market has become a much bigger concern for investors,” reported financial journalist Andrew Osterland on February 28, 2018 for CNBC.com. Earlier in the year, Financial Times noted sell-offs and declared that “the long bond rally could stall—and perhaps even unravel—in 2018.” This week, Bloomberg.com noted “concerns over volatility” in high-yield bonds. Even Kiplinger.com, which typically faithfully tows the line of “typical” financial advice, had harsh words for bonds in a December 2017 article:

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