Kim dives into guiding young adults on foundational financial habits, focusing on the critical aspects of saving and basics of alternative investments. Discover why accumulating liquid savings is vital before diving into riskier options. Engaging and insightful, this episode equips you with strategies for building a stable financial future. Worth a listen for practical advice and motivation!

Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, that as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity.

Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers' thinking and strategies today!

Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.com and we may answer it in an upcoming episode.

Links and Resources from this Episode

• For resources and additional information of this episode go to https://prosperitythinkers.com/podcasts/
• https://prosperitythinkers.dinnertable.com/
• https://prosperitythinkers.com/action/

Show Notes

• Adult children and finances.
• Definition of accredited investors.
• Minimum investments in alternative assets.
• Focus on savings over interest rates.
• Different forms of saving.
• Learning about yourself and investments.
• Importance of a growth mindset.
• Changing perspective on failure.
• Bicycle accident as a learning metaphor.
• Holistic view of investments and cash.
• Emergency funds for young adults.
• Timeframe to build emergency funds.
• Advice against going all-in on investments.
• Importance of savings habits.
• Using education to pick investments.
• Example of a young couple investing in real estate.
• Different investment paths for young professionals.

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Free eBook: Activating Your Prosperity Guide.

Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!

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In this episode of the Prosperity Podcast, Kim dives into essential tax tips learned from a recent conference with renowned tax professional, Tom Wheelwright. Discover why labeling your education expenses correctly and securing 1099 income can optimize your finances. A must-listen for insightful tax strategies!

Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, that as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity.

Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers' thinking and strategies today!

Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.com and we may answer it in an upcoming episode.

Links and Resources from this Episode

• For resources and additional information of this episode go to https://prosperitythinkers.com/podcasts/
• https://gravystack.com/prosperity
• https://prosperitythinkers.com/action/
• https://www.wealthability.com/

Show Notes

• Tax conference anecdote with Tom Wheelwright.
• Key tax tip: Seminars vs. continuing education.
• 1099 income benefits and importance.
• Home office deduction details.
• Real estate professional status benefits.
• Real estate activity requirements for deductions.
• Potential downsides of relying on real estate professional status.
• Todd’s insight on analyzing real estate deals.
• Prosperity mindset and tax strategies.
• Using 1099C to address unpaid debts.

Special Listener Gift
Free eBook: Activating Your Prosperity Guide.

Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!

Review and Subscribe
If you like what you hear please leave a review by clicking here

Subscribe on your favorite podcast player to get the latest episodes.

• iTunes
• RSS

Help your adult kids master finances without just writing checks! In this episode, Kim Butler shares valuable insights on coaching your children aged 18+ on money matters, from saving and insurance to smart investments. Essential advice for parents wanting to raise financially savvy adults.

Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, that as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity.

Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers' thinking and strategies today!

Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.com and we may answer it in an upcoming episode.

Links and Resources from this Episode

• For resources and additional information of this episode go to https://prosperitythinkers.com/podcasts/
• https://gravystack.com/prosperity
• https://prosperitythinkers.com/action/

Show Notes

• Importance of discipline from a young age
• Strategy for engaging with adult children about finances
• First paycheck as a teaching moment
• Establishing a long-term relationship for financial conversations
• Apologizing for not discussing finances earlier
• Essential financial concepts: saving, insurance, medical power of attorney
• Specific example on savings: Automating finances
• Importance of medical power of attorney for adult children
• Comprehensive discussion about insurances with adult children
• Understanding interest rates and the actual financial impact
• Clarification on the difference between mathematical averages and actual returns
• Basic steps for young adults to start investing
• Setting up a whole life insurance policy as an investment
• Encouraging young adults to consider homeownership
• Adding an adult child as an authorized user on a credit card
• Teaching patience and financial principles to young adults

Special Listener Gift
Free eBook: Activating Your Prosperity Guide.

Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!

Review and Subscribe
If you like what you hear please leave a review by clicking here

Subscribe on your favorite podcast player to get the latest episodes.

• iTunes
• RSS