Which financial phase are you in and is it too late to be successful now? Find out on today’s episode of the Prosperity Podcast.
If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us!
[0:19] Intro to the phases of financial success
[0:48] Phase 1: Leaving School, Entering Workforce (20s)
[4:17] Savings Before Debt
[5:41] Paying the Minimums
[6:22] Completing a Will
[7:03] Life Insurance and “Human Life Value”
[8:43] Insurance Outside of Your Employer
[9:35] Phase 2: Building a Prosperity Flow Through Account (30s)
[10:49] Converting Term to Whole Life Insurance
[12:14] Advantages of Life Insurance Over Banks
[13:59] Phase 3: Conversions & Upgrades (40s)
[15:39] Rates of Returns
[17:28] Non-Correlated Assets
[18:11] Whole Life Insurance Interest Rates
[19:28] Aggressive Risks
[20:41] Phase 4: Paying Off Life Insurance Loans (50s)
[22:20] Phase 5: Don’t Retire, Yet (60s)
[25:22] Phase 6: Taking Dividends & Stopping Premium Payment (70s)
[26:49] Reverse Mortgages
[28:08] Phase 7: Focusing on the Death Benefit (80+)
[29:38] Financial Planning Has Failed
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