Top Producing Advisor and Todd’s Truth Training partner (and wife) Kim Butler recently sat down to discuss Prosperity Economics in this series of five short videos.
Hosted by Steve Savant of Let’s Get Down to Business, they had some lively discussions! Steve calls Kim an “articulate contrarian” and “controversial author” and explores why Kim considers herself a “recovering Certified Financial Planner.”
What’s wrong with “typical” financial planning? As Kim explains, the many assumptions that must be made by planners and their clients can give clients with a false peace of mind. She also explains why people need to save first and not have all of their money tied up in a qualified plan:
Why Financial Planning Doesn’t Work
In the next video, Kim compares the differences between “typical” financial planning and Prosperity Economics. She also explains why it is essential to focus on cash flow more than net worth:
Is Prosperity Economics Better Than Financial Planning?
“Net worth doesn’t pay the bills, net worth doesn’t put food on the table, and net worth doesn’t take us on vacation.”
In the third video, Kim argues for a return to the “tried and true” methods of wealth-building. She explains the importance of liquidity and how “typical” strategies can compromise liquidity and a client’s control over their own money. She also discusses using books and Amazon.com as a promotional strategy in her business:
Why Busting the Financial Planning Lies is Necessary
In the next video, Kim takes Steve through the Prosperity Ladder and the 7 Principles of Prosperity. These form the foundations of Prosperity Economics”
Why the 7 Prosperity Principles May Replace Financial Planning
“This idea of locking money up in qualified plans, and prepaid mortgages and 529 plans? That doesn’t put the client in control – that puts the advisor, the financial institution and the government in control, and we don’t think that’s helpful.”
In the fifth and final video, Kim discusses how Truth Concepts Software can be used to help clients OPTIMIZE their money:
How Using Truth Concepts Supports Prosperity Economics
We hope you enjoyed the videos! Please feel free to share them with others.
If you want to know more about Prosperity Economics, see ProsperityPeaks.com, the online home of the Prosperity Economics Movement, and also TheSummit4Advisors.com, where you can optin to receive announcements about Prosperity Economics trainings and event for advisors.