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.
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.
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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 welcome@ProsperityThinkers.com 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.