Category: Financial Concepts

Prosperity Proof #3: What is Prosperity Economics?

Last week we compared home mortgages, and this week we’re going to turn to something more conceptual again. We’ve talked about the Principles for Prosperity, so how do we break down what really sets the movement apart? What is Prosperity Economics? Prosperity Economics is a paradigm shift, totally different from the mindset that typical financial planning builds from. Typical Financial Planning…meets needs and goals only. It’s based on limited ideas of “what you can afford.” It keeps you where you are. Prosperity Economics…pursues wants and dreams. It’s based on unlimited

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Prosperity Proof #1: Seven Principles for Prosperity

Join us for the first installment of a series of blog posts: Seven Proofs for Prosperity. Over the course of the series, we’re going to cover what it means to meet financial challenges with a prosperity mindset, and how that can help you and your clients. It all begins with our Seven Principles for Prosperity, from the Prosperity Economics Movement. Here at Truth Concepts, we look at the Truth in financial matters. Part of that Truth comes from applying principles that promote a prosperity mindset—flipping the script from scarcity and

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Collateral: Alternatives to Borrowing from the Life Insurance Company

Those advisors that are “whole-life friendly” know the many advantages of a whole life insurance policy to its policyholders, and the options that are available with a little creativity and a prosperity mindset. One of the primary advantages of a policy is the ability to borrow against the policy’s cash value and secure a loan straight from the insurance company—without the long approval process of a bank loan. While beneficial for a number of reasons, borrowing against the policy is not always the best strategy depending on your client’s desires.

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7 Blind Spots of Financial Advisors

Even a seasoned financial advisor can be vulnerable to certain blind spots within the field, what matters is recognizing and learning from these blind spots. Here we have gathered a list of the seven major areas in which advisors can falter, to save you from the same oversights. 1. Forgetting Time Value of Money As an advisor, the time value of money must be applied to every calculation, and any calculation that does not take this into account is not accurate. Every dollar has a value that increases over time,

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Is It Better to Rent A Home Or Buy?

In this article, I am going to tell you something you already know or may think you fully understand.  It starts with this question—is it better to rent a home or buy?  The overwhelming response to that question seems to be that it is better to purchase a house instead of renting one. Although I’m sure you answered that it is better to purchase a home, I am going to use Truth Concepts calculators to prove it to you. Don’t stop reading because you think you know it all.  Stick

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Why You Shouldn’t Retire, You Should Retool (John & Jane Jones Pt. 8 of 9)

“I am ready to retire,”  John was quick to state at the beginning of our annual meeting. There were several things I wanted to talk to John and Jane Jones about this year since they would be soon turning 60.  But when I heard John say this, my plans for the meeting took a back seat. “Are you serious?”  I asked John.  “Do you think you are ready to retire?” “I have no idea,”  John answered.  “I am making nearly $185,000 a year, which is a lot more than what

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