Category: Prosperity Economics

Proving the Power of Savings in the Maximum Potential Calculator

The Currence App is going to be a game changer for clients and advisors alike. Not only does the app teach people how to save first using a financial “reservoir,” it positions advisors as the go-to when a client has reached their target. That means they’ll look to you to help them make money moves and create even greater protection, liquidity, and cash flow.  How Does Currence Work as the Client? When a client enrolls in Currence, they are prompted to establish a new, secure, and interest-bearing bank account. Then,

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Implement “Who Not How” in Your Financial Practice

The role of a financial advisor is, in large part, to help your clients solve problems. They come to you because they want to solve some pieces of their financial puzzle, and they believe you can help. This is an excellent example of “who, not how.” You cannot be all things to all people, and there are going to be times when you have problems to solve, or you’ll encounter other people’s issues that you cannot solve. And so often, the question is not, “How do I solve this problem?”

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How to Calculate the Cost of Monthly Life Insurance Premiums

How do you calculate the cost of monthly life insurance premiums instead of paying annually? The answer isn’t quite as simple as dividing by 12, because as you know, paying premium at an annual rate actually saves you some costs. That’s why, to be more precise, we use a Rate Calculator to find the “hidden” costs.” Using the Rate Calculator to Find the Costs Once you have your Rate Calculator, put the annual premium in the Present Value as a negative number (which changes it to Loan Balance) since the

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Never Retire: 5 Values to Help Clients Love Their Working Years

87 is the new 65… However, while human longevity is improving, people’s conception of retirement is not. Many people continue to operate as if 65 is the ideal age to retire. Yet this utopian ideal of retirement simply doesn’t align with reality: people are not saving enough to retire for 30+ years. That’s why we think it’s time for people to consider working with this goal: to never retire. Does it sound extreme? Without context, sure, it may seem like a farfetched idea to simply never retire. However, when you

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5 Cognitive Biases in Behavioral Finance and Entrepreneurship

If you’re a financial advisor, you are also likely an entrepreneur on some level. Entrepreneurs are innovators, problem solvers, and highly motivated business people: these are just a few of the characteristics that make an entrepreneur stand out. Often, entrepreneurs are driven to stay at the cutting edge of their industry, through reading or listening to books and podcasts, or by attending summits and events. Yet in this pursuit of knowledge and growth, we can often get in our own way. That is, the cognitive biases in behavioral finance or

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Truth Training, Jan. 2023 | Catch the early bird discount while you still can!