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Why I don’t own an IRA or 401(k) and never will
Did you miss this week’s show? Doug Andrew discussed the following:
We want to welcome KSL1160 and 102.7 in Salt Lake City, Utah and KNEW Talk 910 in San Francisco, CA to Missed Fortune Radio.
Economic booms and busts are as American as baseball and apple pie. In my experience, I believe we go through economic cycles every 8-12 years. During economic times like this year, watch what the herd does and don’t follow them. The media is part of the herd, don’t listen! No matter what government tries to do, there is no possibility of ever removing the boom and bust cycle of American economics.
What are the three simple tests for determining a wise and prudent investment? I call this the L.S.R.R. test.
1) Make sure you have liquidity. Can you get your money back when you need it back?
2) Is it safe or guaranteed? Is the principal safe so that no matter what happens in the economy you will not lose your principal? The people that followed the Missed Fortune strategies didn’t lose, even this last year. Did you know you can have your money liquid and safe at the same time?
3) They earn a nice rate of return that is tax free.
Why I don’t own an IRA or 401(k) and never will. I’ve always put my serious cash such as college savings, retirement, and home equity into investments that will accumulate money tax free. And then when I access that money it is tax free, including the gain. When I die it also blossoms and transfers income tax free. I make sure this money is liquid, safe, and earns a competitive rate of return.
Attend our three hour event live over the internet this coming Saturday, August 8th at 10 am Pacific: Don’t miss your chance to understand how to protect your money during this economic crisis and get competitive rates of returns during the good years. This strategy is called indexing and you need to know all about it. Call 888-76-Radio (888-767-2346) to register.
Three choices for your money: 1) Fixed Rate Instruments – Your money is put into relatively conservative financial instruments that generally have lower rates of return. 2) Variable Products – These are products that allow you to have great returns of 20-30% during the good years but during economic hard times you can also lose 30% or more. 3) Indexed Products (the middle ground) – This type of financial product gives you returns that are greater than the rate of inflation during good years but keeps your money safe so you don’t lose a dime when the market goes down.
FREE Missed Fortune E-book: Baby Boomer Blunders. THE PROBLEM? The average Baby Boomer has less than $50,000 accumulated for retirement (which means many have less than that), primarily due to bad habits and having money invested in the wrong places where economic downturns can diminish their nest egg. Download at www.babyboomerblunders.com
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