In the 4th episode of the seven blind spots, Kim talks about how interest rates work, also how banks make money. She uses this to help advisors educate their clients about how important it is to convert interest rates into dollars. She also recommends a particular financial calculator and a book that helps clients understand the distinction between interest rates and money.
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- The 4th Blind Spot: How Interest Rates work – 2:11
- Kim explains to us that we don’t convert the interest rates to dollars and consequently, we don’t understand how they work – 2:42
- Kim shares with us an example to understand this 4th blind spot – 3:10
- She recommends to us to use a financial calculator – 3:40
- Kim explains to us how to use a financial calculator for interest rates – 5:45
- On the advisor section of the podcast we get to listen to Ken Greene at the 2018 Summit for Prosperity Economics Advisors – 6:40
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