Debunking Myths of the AARP – Episode 191

Summary:

Best selling author Kim Butler and No B.S. Money Guy Todd Strobel debate some of the financial advising tips offered by an article from the AARP magazine. This episode shows in detail how society is setting you up for financial failure, and how it’s your responsibility to swim upstream.

Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at welcome@ProsperityThinkers.com and we may answer it in an upcoming episode.

Links in this Episode:

Listener Gift: Kim’s eBook Financial Planning Has Failed

Submit your questions welcome@ProsperityThinkers.com

Show Notes:

00:00 Intro

00:34 Topic: an Article in AARP magazine

00:55 How we are tricked into doing the right thing by behavioral science

01:14 Humans don’t always do what’s best for the long term

02:13 Opt-in vs. opt-out 401K plan

03:42 Investing vs. Saving

04:24 5th of the 7 Principles of Prosperity

07:23 Article talks about making saving fun

08:57 Overcoming short term thinking

11:00 New technology for Prosperity Economics

12:40 Competition- is it good?

14:48 Kim doesn’t like the envelope system except for short term savings

16:50 Seven Principles

17:30 Listener gift