Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel cover a listener question of what to do when you have a million dollars. They give several case studies on how to protect the money and what to do with it to make it grow.
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00:38 Today’s topic: 1 Million Dollar Question
02:41 Listener question of what to do with your first million
03:25 What does it mean to be a millionaire?
05:55 How much debt you should pay off if you had $1M
07:03 After inefficient debt is paid off there is something more important to do before you invest
08:43 How to protect yourself by buying your own disability coverage
10:01 Taking advantage of your insurance policy while still alive
10:50 Create extra cashflow and save it to protect yourself from emergencies
11:59 Does it make sense to put money in an annuity?
14:17 The argument of net worth vs cash flow
16:01 Putting money into life settlements
17:09 If you want more information on how to use cash flow from life insurance, bridge loans or life settlements email firstname.lastname@example.org with the subject line: Million Dollar Podcast
18:21 Case study for a 59 ½ year old
19:45 Inflation is one of the biggest detriments for retirees. Kim explains how to beat inflation.