Posted on | November 1, 2009 | No Comments
This week Doug Andrew discussed the following:
Upcoming Free Webinar
Attend our free 3-hour webinar live over the Internet this coming Wednesday, November 4th at 5:30 p.m. pacific (6:30 mountain, 7:30 central, 8:30 eastern).
Don’t miss your chance to understand how to protect your money during this economic crisis and get competitive rates of return during the good years. This strategy is called indexing and you need to know all about it. To register call 888-76-Radio (888-767-2346).
Just for registering you’ll receive a free e-book and audio book on the IRA/401(k) dilemma. Admission is free for Missed Fortune Radio subscribers and listeners. All attendees will receive a free copy of Last Chance Millionaire, Doug’s New York Times best-selling book.
Time to Replace the 401(k)
Consider these revealing quotes from the article:
“The ugly truth, though, is that the 401(k) is a lousy idea, a financial flop, a rotten repository for our retirement reserves…From the end of 2007 to the end of March 2009, the average 401(k) balance fell 31%, according to Fidelity.”
“In what must seem like a cruel joke to many, the accounts proved the most dangerous for those closest to retirement. During the market downturn, the 401(k)s of 55-to-65-year-olds lost a quarter more than those of their 35-to-45-year-old colleagues. That’s because in your early years, your 401(k)’s growth is driven mostly by contributions…But the longer you hold a 401(k), the more market-exposed it becomes.”
“…nearly 73 million Americans…now have a 401(k). And collectively we pour more than $200 billion into these accounts each year. But retire rich? Don’t bet on it. The average 401(k) has a balance of $45,519. That’s not retirement. That’s two years of college. Even worse, 46% of all 401(k) accounts have less than $10,000. Today, just 21% of all U.S. workers are covered by traditional pensions, and the number shrinks every year.”
It’s time to stop relying on the government to provide retirement for us. We can’t even trust their incentives. They give us a tax break up front but then get it back by taxing us when we withdraw our funds.
The 401(k) Replacement
There is a solution to the 401(k) dilemma. It’s a product that guarantees safety of principal while providing competitive rates of return. It provides liquidity and flexibility. It keeps you away from the dangers of market volatility. Best of all, it provides both tax-free accumulation and tax-free withdrawal.
This product is a maximum-funded, tax-advantaged life insurance product that uses an indexing strategy to lock in your gains and prevent losses.
Everyone who has followed our advice has not suffered any losses, while those invested in the market have been devastated.
2-Day True Wealth Transformation Clarity Retreat
Our retreats help you optimize your assets, manage your equity, and empower your wealth.
Our next retreats are November 6th and 7th in San Diego, California, and November 20th and 21st in Salt Lake City, Utah. Contact us now to learn more and to register.
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 this free e-book now at www.babyboomerblunders.com.