In this episode of the Prosperity Podcast, Spencer Shaw and Kim Butler discuss wealth building secrets of millionaires and why the term millionaire isn't as exciting as it used to be. They mention that focusing on cash flow is more important than net worth. The conversation explores the importance of transactions, such as starting, buying, and selling a business or real estate, which can lead to significant wealth growth. Spencer and Kim emphasize simplicity, principles, and real-world experienc...
May 23, 2023•12 min•Ep. 516
In this episode of the Prosperity Podcast, the hosts, Spencer Shaw and Kim Butler, discuss the importance of avoiding zero-sum games, in which there is a winner and a loser. They provide examples of such games, including gossip, which can harm all parties involved, and share ways to combat this mentality. They also discuss the role of life insurance as a "win-win-win" financial product, particularly whole life insurance from a mutual company, which benefits the buyer, seller, and company alike. ...
May 16, 2023•15 min•Ep. 515
In this episode of the Prosperity Thinkers Podcast, the focus is on the importance of philanthropy and giving forward. The hosts discuss the concept of the "velocity of money" and how participation in initiatives like kiva.org can help move money and improve one's own personal economy. They highlight different ways of engaging in philanthropy, such as donating small amounts to causes important to the individual, using donor-advised funds, and even creating a family foundation. Spencer and Kim ag...
May 09, 2023•12 min•Ep. 514
Kim and Spencer discuss responsible borrowing and how to use debt to your advantage, particularly when it comes to building businesses or making investments. The conversation emphasizes the importance of having a proper mindset before considering taking on debt and being confident in the ability of the investment or business to generate enough cash flow to pay off the debt. The podcast also highlights the need for liquidity to cover potential issues such as delays in business profitability or un...
May 02, 2023•20 min•Ep. 513
Kim and Spencer discuss the intersection of health and wealth and the importance of investing in personal well-being for long-term prosperity. They emphasize the significant impact of physical and mental health on a person's overall prosperity and ability to think and function optimally. The conversation highlights the benefits of seeking personalized guidance in various aspects of life, such as personal finance, health, and fitness. The hosts suggest trying out services like Viome, which offers...
Apr 25, 2023•16 min•Ep. 512
Kim and Spencer discuss the concept of living for experiences versus living for stuff. They share personal experiences and observations from their careers and highlight the importance of focusing on more meaningful aspects of life, such as relationships and personal growth. The conversation touches on the role of social media in showcasing one's possessions or experiences, and they emphasize the need to be aware of the messages being sent to children about the importance of material possessions....
Apr 18, 2023•15 min•Ep. 511
Kim and Spencer focus on the safest ways to store savings during uncertain times for banks, considering alternatives like mutual life insurance companies and T-bills. The expert, Kim, explains mutual life insurance companies as a secure place for storing cash value, emphasizing the safety of the institution in comparison to banks with fractional reserves. She also encourages people to focus on what's within their control as the dollar isn't going away any time soon and banking systems will conti...
Apr 11, 2023•18 min•Ep. 510
Kim and Spencer talk about the fascinating world of Artificial Intelligence (AI) and its potential to reshape the financial advising industry as we know it. With Kim sharing her firsthand experience from attending the renowned Abundance360 event, this conversation offers valuable insights for listeners who aspire to stay ahead of the curve and harness the power of AI in their practices. Throughout the discussion, Kim and Spencer emphasize the unique aspects of human interaction that AI will not ...
Apr 04, 2023•15 min•Ep. 509
Kim and Spencer discuss why paying off your mortgage early may not be the best strategy for financial prosperity, as emotional attachment to homes can lead to emotional decision-making. The time value of money and opportunity cost must be considered, and the best mortgage loan is a 30-year fixed interest rate mortgage paid over time and refinanced until the borrower dies. Redirecting extra mortgage payments towards paid-up life insurance can be more efficient in building an asset that is not tax...
Mar 28, 2023•16 min•Ep. 508
What’s the meaning of money for you? A lot of people believe that the more money you have, the happier you are. But how can you maintain the balance between your time, your value, and your money? In this episode, Spencer Shaw and Kim Butler delve into the concept of the time value of money. They take a deep dive into the importance of finding a balance between saving and spending along with valuing time as much as money. Spencer and Kim also share their best practices in looking at money from a ...
Mar 21, 2023•13 min•Ep. 507
The concept of visioneering is believed to help lift people’s chins up and look forward to the future. It can be used to look at the opposite side of a goal: Like paying a s much tax as possible to achieve a higher tax bracket. For today’s episode, Spencer Shaw and Kim Butler talk about how to create and promote a wealth-building plan, emphasizing the importance of having a vision and diversifying your own portfolio. They also discuss the different tax implications of various retirement vehicles...
Mar 14, 2023•21 min•Ep. 506
They say that people die twice: The first time is their physical death and the second time is the last time their names get mentioned. While life is still ahead of us, should you start preparing as early as now? In this episode, the conversation between Spencer Shaw and Kim Butler centers around wealth protection and the need for preparing for what to come upon your death. This episode not only covers wealth protection, but also family protection, memory protection, and more. The conversation em...
Mar 07, 2023•13 min•Ep. 505
After working hard to create your personal wealth, the next step is the need to protect it. And one way to do that is to acquire insurance to protect yourself from major financial loss. Wealth protection can be achieved through life insurance, taxes, and asset formation. Other strategies such as reverse mortgages, charitable remainder trusts, and single premium immediate annuities are also effective. In this episode, Spencer Shaw and Kim Butler talk about the different strategies such as to prot...
Feb 28, 2023•18 min•Ep. 504
We all have money concerns from time to time: We want to continue paying the bills, we want to earn more money for investments, and we want to save more for retirement. But to start getting the financial freedom and success that you’re aiming for, what’s the first step? In this episode, Spencer Shaw and Kim Butler discuss the Prosperity Ladder, an infographic created to help people understand their financial situation and progress. Kim explains that the ladder is useful for people of all ages an...
Feb 21, 2023•18 min•Ep. 503
Good news Prosperity Thinkers! After releasing the Currence app, we got positive feedback from users. They’ve already seen positive results such as AHAs and the value of converting conscious spending into unconscious savings. To get access to the app, send an email to hello@prosperitythinkers.com with the subject line "Currence" today. In this episode, Spencer Shaw and Kim Butler discuss some of the hidden benefits of the Currence app. With the app, users can convert conscious spending into unco...
Feb 14, 2023•17 min•Ep. 502
When the members work together to achieve the same goal, team collaboration occurs. As each member of the team has their own unique skills, they can help solve the problem from a different angle and provide a more creative solution. But how can you apply collaboration in your personal life? In this episode of the Prosperity Podcast, Spencer Shaw and Kim Butler discuss the surprising benefits of collaboration. Kim explains that Dan Sullivan, her coach, and mentor, has talked for years about the i...
Feb 07, 2023•14 min•Ep. 501
Happy 500th episode of the podcast! As we celebrate this milestone, for today’s episode, Spencer Shaw and Kim Butler reflect on the journey, noting how listeners have grown with them over the years. They share how they stumbled upon the podcast as a space to communicate with clients and people interested in becoming clients. Spencer and Kim also discuss the growth of podcasts in the past five years and how technological advances have made them more accessible and easier to produce. They share th...
Jan 31, 2023•17 min•Ep. 500
How can you go from being in the lower middle class to the upper middle class? Is it even possible? If so, how can you go and raise your level of wealth? For today’s episode, Spencer Shaw and Kim Butler discuss different levels of wealth. They explain that the bottom is an emergency fund, the middle class is often stuck, the upper middle class is when you become an accredited investor, and the upper class is when passive income exceeds expenses. The middle level of wealth is often where people g...
Jan 24, 2023•14 min•Ep. 499
How do you keep track of your expenses and finances? Do you use the traditional pen and paper to jot down the numbers you’re spending or saving or do you take advantage of the technology to effectively track your finances? For today’s episode, Spencer Shaw and Kim Butler discuss a new innovation for tracking finances: Currence. What exactly is Currence? Currence is an app and account that tracks finances and optimizes them based on the Profit First methodology. It puts all income into its accoun...
Jan 17, 2023•15 min•Ep. 498
Whole life is an insurance product that is designed to help families build and store emergency opportunity money. Although it is oftentimes a misunderstood space in personal finance, it is the most valuable tool for building liquid emergency money. In this episode, Spencer Shaw and Kim Butler discuss the reasons why whole life insurance is a better investment than other options like savings accounts or CDs. They mention that the monthly premium forces you to save, the life policy earns a higher ...
Jan 10, 2023•16 min•Ep. 497
Do you use artificial intelligence in your personal and business life? How does using AI help simplify your tasks? In this episode, Spencer Shaw and Kim Butler discuss open AI and how it is changing the world as we know it. They talk about how technology is revolutionizing the way we think about and use artificial intelligence. They also share how this technology is impacting our lives and how we can use it to prosper. Best-selling author Kim Butler and Spencer Shaw show you how to take more con...
Jan 03, 2023•10 min•Ep. 496
What are the things you’re grateful for this year? The conversation centered around the importance of having a prosperous mindset going into the new year. Spencer and Kim discuss how to shift your mindset to be more prosperous. Kim recommends starting with physical activity to wake up your body and mind, and then connecting with a dog to find joy in the moment. Kim also mentions that it is important to take some time to reflect on what we are grateful for and to focus on what brings us joy. She ...
Dec 27, 2022•9 min•Ep. 495
Racing to pay zero taxes is a race to the bottom and nobody wins. With the end of the year fast approaching, how can you minimize the amount of tax you’re paying for? For today’s episode, Spencer Shaw and Kim Butler share the seven different tax-related strategies that people can use to reduce their taxable income. They caution against letting the tax tail wag the financial dog, meaning that people should not pursue tax benefits at the expense of their financial well-being. They also emphasize t...
Dec 20, 2022•13 min•Ep. 494
People are making money in ways that may seem unconventional, but there are opportunities for making money everywhere. Whether it's selling photos of surfers in Bali or charging people to name their babies, there are ways to make money if you're willing to think outside the box. In this episode, Spencer Shaw and Kim Butler discuss the difference between money and wealth. Money is everywhere, but wealth is something that is built over time. They also talk about the importance of saving money and ...
Dec 13, 2022•12 min•Ep. 493
Is going to college necessary? While a lot of people will argue that everyone should go and get a college education, there are also many successful people who think that going to a university is not for them. In this episode, Spencer Shaw and Kim Butler talk about college planning and how it can be detrimental to a student’s success. They discuss the new book, Busting the College Planning Lies, how these lies can cause students to waste time and money, and provide advice on how to avoid them. Sp...
Dec 06, 2022•8 min•Ep. 492
Should children learn the value of money as early as they can? How can you teach kids to prioritize their needs over their wants, like picking the needs for new clothes rather than wanting a new toy? For this episode, Spencer Shaw and Kim Butler discuss the importance of teaching delayed gratification and saving money to kids. They talk about the benefits of having an abundant mindset when it comes to money at a young age. Spencer and Kim also reiterate the importance of investing and how it can...
Nov 29, 2022•12 min•Ep. 491
Delegation can be an effective way to free up time and energy for people to focus on what they are good at. It should be done properly, with clear expectations and responsibilities, and it can also be done within a community, in a business, and within the family. Spencer Shaw and Kim Butler explain how delegation can be an act of love and in order to delegate effectively, you need to find the best person for the job. They also discuss the concept of delegation in the community and how parents ca...
Nov 22, 2022•13 min•Ep. 490
What will happen once the dollar crashes? As a lot of people are scared of inflation and its impact, is there a way to minimize its effect? For today’s episode, Spencer Shaw and Kim Butler talk about how you should focus on what you can control and not worry about the things that you can’t control in terms of inflation. They discuss the current state of the economy and the stock market and how you should start focusing on things that will maintain their value in the long term, like real estate o...
Nov 15, 2022•15 min•Ep. 489
Achieving wealth is about more than just money - it is about putting in place strategies that will enable perpetual wealth in a family. In order to create wealth, it is important to have the right mindset and to be clear about one's values. Success starts in the mind, and Prosperity Thinkers help people to achieve this success. In this special, bonus episode, Kim Butler speaks with Steve Gordon, the host of The Unstoppable CEO Podcast. Kim talks about how families can achieve perpetual wealth, a...
Nov 10, 2022•29 min•Ep. 488
In order to have prosperity, it is important to be grateful for what is there and to be conscious of pulling the good out of whatever the occurrences are. It is also important to be prepared for what one is afraid of and to take action to solve those fears. In this episode, Spencer Shaw and Kim Butler talk about having a Plan B to protect yourself and your family, in case something goes wrong. Kim believes that humans have the ability to find the good in any situation, no matter how difficult it...
Nov 08, 2022•20 min•Ep. 488
