Category: Prosperity Economics

Fiduciary Responsibility and Integrity

As a rule-based society, have we ignored the root of the problems—the reasons the rules were created in the first place? Of course, we need rules to function as a society. Without regulations, we’d have chaos. If we didn’t mandate that in the United States we drive on the right die of the road, the roads would be chaos. But what about over-regulation? When rules are created on top of rules, we miss a major part of the conversation. Morality. Integrity. Principles. No matter how many rules are created, you

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The Myth of “Buy Term and Invest the Difference”

We’ve all heard the advice to buy term insurance and invest the difference (the difference of premium between term and permanent insurance). This is a classic recommendation made by typical financial planners, but is it the best method for your clients? By now, you likely know that we’re whole-life friendly, but we’ve done the work to dispel the myth ourselves. Our First Thoughts? Your clients should buy term insurance (if it’s right for them). There’s no issue with term insurance itself—it’s a way for your clients to protect their families.

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Addressing Opportunity Costs with Clients

Rarely do people enjoy thinking about opportunity costs—but factoring those costs into our daily lives is the key to making more meaningful decisions. In our personal lives, we can relate opportunity cost to the cost of doing one activity over another. Our time is valuable, so how do we make the most out of each moment? In finance, opportunity cost is measured in choosing one investment over another, or choosing a typical savings account over a whole life policy…or any number of decisions. This subject can be hard to broach with

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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 #4: Permanent Life Insurance Primer

Universal Life Insurance or Whole Life Insurance? Both are permanent life insurance, but they are not equal. In our fourth Prosperity Proof, we’ll let the differences speak for themselves A PROSPEROUS lifestyle is made possible by having a vehicle to store and save cash that is ALSO accessible and liquid. And that’s where permanent life insurance comes in! But just because you’ve identified that your client is ready for life insurance, doesn’t mean there aren’t some misconceptions left to tackle. Universal Life Insurance is the route that typical financial planning

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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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