Kim Butler and Todd Strobel dive into financial strategies to best utilize your assets by actually spending down your taxable assets first, and relying on non-taxable assets later in life.
Kim explains three strategies and their upsides. Todd focuses on the benefit of life insurance to maximize the strategies effectiveness. Finally, they discuss resources available through Partners 4 Prosperity that explores these strategies further. Is your financial strategy allowing you to have your cake and eat it too? Find out on today’s episode of the Prosperity Podcast.
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[0:32] Have Your Cake and Eat it Too Strategy
[4:19] Strategy 1: Pay Down, Spend Down
[5:53] Using the Life Insurance Benefit
[6:55] An Alternate Giving Strategy
[9:56] The Permission Slip
[9:38] Type of Life Insurance to Utilize
[11:02] Strategy 2: Reverse Mortgages
[12:38] Using Other Types of Assets
[13:40] Strategy #3: Charitable Remainder Trust
[15:39] Live Your Life Insurance
[16:38] When is it Too Late?
[17:35] Where to Start – Ask for Permission to Spend Special Report
[19:22] Financial Planning Has Failed