The Prosperity Blog

The Beneficiary Checklist: 7 Mistakes to Avoid!

The Beneficiary Checklist

Do you intend to leave a legacy? Utilizing life insurance and selecting beneficiaries for your policies and/or other accounts make leaving legacy gifts simple, keeping them out of probate or the state courts. That is… unless you make a critical mistake. We wrote this beneficiary checklist to help you avoid it!

You’ve put a legacy in place that assures loved ones and/or your favorite charities will receive monetary gifts according to your wishes. There are a handful of mistakes we see people make when it comes to naming beneficiaries or keeping them up-to-date.

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Lump Sum or Cash Flow for Retirement? – Episode 405

Getting a lump sum of money for your retirement or cash flow? Which one would you choose? Check out what Kim and Spencer have to say about this decision.

Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies today!

Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode.

Links and Resources from this Episode

Show Notes

  • A human resources decision – 0:34
  • Having a retirement pension decision – 2:00
  • What inflation does to money – 2:12
  • Why Kim does not like financial plans – 3:08
  • How you can beat inflation – 5:10
  • Not happy with a lump sum – 5:29
  • Helping the world by having cash flow – 7:45
  • It’s hard to create cash flow – 8:34

Special Listener Gift

Kim Butler’s groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth… and what to do instead! 

Review and Subscribe

If you like what you hear please leave a review by clicking here

Subscribe on your favorite podcast player to get the latest episodes.

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Self-Service Life Insurance

self-insurance-blog-image

Q: CAN YOU BUY LIFE INSURANCE ON THE INTERNET WITHOUT THE ASSISTANCE OF A FINANCIAL PROFESSIONAL?

A: MAYBE, BUT IS THIS A GOOD THING?

Table Of Contents:

Along with advertising for automobiles and beer, there are several commercials in heavy rotation on cable TV channels for insurance. One ad features an animated “virtual world” where consumers can meet all their insurance needs with a click of a button on their computer. Another ad shows a make-believe insurance “grocery store” with consumers choosing their products off the shelf and paying at a check-out counter where they are met by a perky cashier.

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Paying Your Kids – Episode 404

Do your kids know the value of money? How much should you pay your kids? Kim and Spencer talk about some ways to help your kids learn the value of money.

Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies today!

Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode.

Links and Resources from this Episode

Show Notes

  • Helping kids understand how money works – 0:44
  • One of Kim’s lifetime goals – 2:38
  • What’s “NFT” – 6:42
  • Specialized skill – 8:13
  • Having time to spend – 9:11
  • Teaching kids the value of money – 9:59

Special Listener Gift

Kim Butler’s groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth… and what to do instead! 

Review and Subscribe

If you like what you hear please leave a review by clicking here

Subscribe on your favorite podcast player to get the latest episodes.

Read More

The Strength of Guarantees: 7702 Plan Change and What it Means

Wrapping up 2020, the IRS introduced a significant change to the tax code that governs life insurance. This code hasn’t been changed in decades, so there are bound to be adjustments going forward. While there are plenty of opinions on how this will change the industry going forward, we want to look at the facts.

The fact is, whole life insurance has over a century-long history of paying dividends in addition to the guaranteed cash value. That’s the reason insurance is a great savings vehicle—it’s certain, reliable, and better for growth than saving with the bank.

The guarantees of the life insurance company are what make policies run smoothly, and we think that the changes happening will allow guarantees to continue to be made and met. In other words, policies will continue to thrive in even the most difficult economic climates.

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