Category: Financial Concepts

Prosperity Proof #5: The Truth About Qualified Plans

In this final prosperity proof, we’re going to cover one of the most misunderstood financial vehicles: qualified plans. Job seekers today are taught to look for companies that offer qualified plans with an employer match–“It’s free money!” Plenty of financial advisors advocate for qualified plans, and plenty of clients funnel as much money as they can into said plans. While qualified plans are not bad, they cannot be considered a savings vehicle, or even the most viable retirement plan, when you consider the facts. When you look at the facts,

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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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