Blueprint for Financial Success

Transcript

Mike:

Welcome to this edition on Mike on Money. I, of course, am Michael Reese certified financial planner. And your host

Mike:

Today, we are talking about prosperity planning. What is it? I mean, what does it mean? How does it help you? Why do you even care? Well, this is going to be great. You’re really going to enjoy this. I’m going to clear it up for you as always, you know, you know the drill at this point, right? If you liked this video click like click subscribe, share it with your friends, neighbors, family members, even your enemies. Let’s get the word out there. We’ve got some great information. All right. Let’s dive in. Prosperity planning. See, we’re big believers that you deserve to live a financially prosperous life. And if you want to live that financially prosperous life, guess what? You gotta do three things right. That’s right, just three. It’s not that hard, but you gotta do it. Right? Number one, you gotta get your money right.

Mike:

Well, what do I mean by that? I mean that you need to make sure you’re investing the right way. You want to invest in, in asymmetrical fashion versus symmetrical, by the way that one’s a topic of another video, all on its own. In addition to that: income. If you want work to be optional, you have to have your retirement savings. Generating enough income for you, both in good markets and bad. So that that income will replace your wages. That’s how you make work optional. How do you protect your risk, your downside exposure. That’s an important question to ask. You probably have pretty high values right now. Maybe the highest you’ve ever had. Well, how do you keep it there? If the market decides to go the other way, these are all questions about number one, your money. All right. What’s the second thing you gotta get, right?

Mike:

Oh my goodness. It’s the one that gets me all excited taxes. You got to get your tax planning, right? I mean, think about it. If you’re like most people, you have money in your 401k, your IRA, your 403B. That’s not all your money. You know that. I mean, I know, I know you get a statement. It says John or Jane Smith IRA. But you know, as well as I do, that’s a lie. It should say John Smith and IRS’s IRA Jane Smith and IRS’s IRA. The IRS owns a chunk. What are you doing to keep the IRS’s share to a minimum and your share to a maximum, Hey, if you’re married, what happens when you die? Your surviving spouse, she, he or she is a single taxpayer, their taxes go up. What are you doing about that? And by the way, do you even know how much tax you’re going to pay over your lifetime.

Mike:

Has that been mapped out for you? I mean, gosh, don’t you think you should know that information. This is all about section number two, getting your taxes, right? And of course let’s not forget section number three. So here we go. We’ve got your money, right? You’re making great choices. They’re good for you. You’ve got tax planning down, you’re rocking and rolling. You’re like getting the IRS out of your life. Fantastic. I hate those guys too. Well, you do everything right, if you miss this third area, well, it could all go for naught. And I’m talking about your protection planning specifically. What could go wrong? You know, unexpectedly. How about this? What if you die too soon? What if you get sick? Like really sick along the way, right? Or God forbid, what, if you live too long, you know, you gotta make sure you get all of those covered as well.

Mike:

Do you have enough life insurance? Do you have your long-term care covered? These are questions you need to answer. So three things you want to live a complete financially secure, prosperous life. Get those three things, right? Your money, your taxes and your protection, get them right. And life is good for you. And by the way, before I let you go today, I want to share this with you. We brought this, we put this together for you. This is called your Prosperity Planning blueprint. And I know my man behind the camera, he’s going to make it big so you can see it, but it just takes a look at those three areas, your money, your taxes, your protection, to make sure that you’re doing the right job in those areas. And if you’re not this blueprint right here, it actually points it out for you. It tells you what you need to do. This is a free tool that’s available. If you want to get that, just contact us below. I know the information down there. All right, gang. That’s this week, Mike, on money. Hope you enjoyed it. Remember like the video, if you liked it, subscribe, if you haven’t already and of course share it with your friends, families, and enemies. We want to get the word out there. All right. See you next time.

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