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This week Doug Andrew discussed the following:
Upcoming Complimentary Webinar
Attend our free 90-minute webinar live over the Internet this coming Tuesday, January 5th at 11:00 a.m. pacific (12:00 p.m. mountain, 1:00 p.m. central, 2:00 p.m. eastern), and again at 6:30 p.m. pacific (7:30 mountain, 8:30 central, 9:30 eastern).
The topic is “The 401(k)/IRA Dilemma.”
You’ll learn the best alternatives to qualified plans, which provide liquidity, safety of principal, and a healthy, tax-free rate of return that outpaces inflation. You’ll also learn how not to lose when the economy is down.
Register now by calling 888-76-Radio (888-767-2346).
Just for registering you’ll receive a bonus e-book and audio book on the IRA/401(k) dilemma.
Furthermore, all attendees will receive a bonus hardcover copy of Last Chance Millionaire, Doug Andrew’s New York Times best-selling book.
Ridiculous Reports from Traditional Financial Planners
Newsweek recently published an article by Linda Stern entitled “Is Your Nest Egg Safe Again?”. The story reports that large investment firms, such as Fidelity and Vanguard, have performed recent studies “showing that most workers have seen their retirement accounts recover to precrash levels…”
But why? According to the article:
“Both firms (Fidelity & Vanguard), which provide 401(k) accounts, reported that most of the workers in their programs now have more money than they did when the stock market started its slide in 2008. The primary reason, they reported, was that continued employee contributions helped to offset declines in balances.”
Huh?
In other words, these funds haven’t grown in terms of a rate of return! Financial services companies with vested interests are trying to pull the wool over your eyes by making you think that everything is okay with risky qualified plans.
Think about it: Your account is worth $100,000. The market tanks and you lose $25,000, so you’re left with $75,000. You then make an out-of-pocket contribution of $30,000, taking your account balance up to $105,000.
You’ve still lost and have not recovered from the $25,000 loss, yet according to large investment firms (which, of course, offer 401(k)s), your account is doing just fine.
To add insult to injury, these deceivers recommend that people nearing retirement age increase their risk to make up for lost time:
“At an age when they are typically told to eschew risk, older workers may need to take on a bit more investment risk in the hopes of snagging bigger returns going forward. People who are five years away from retirement should have 60 percent of their portfolios in stock, argues Christine Fahlund, a senior financial planner at T. Rowe Price.”
If you want to continue losing money, then stick with this advice. But Missed Fortune offers a much better and safer approach.
Escape the 401(k) Trap
Though they’re promoted heavily by the traditional financial services industry, 401(k)s are horrible accumulation vehicles, for the following reasons:
- They tax your harvest, rather than your seed.
- Contrary to traditional advice, your taxes will most likely be higher, not lower, in the future because you’ll have far less deductions.
- The 10% withdrawal penalty prevents you from accessing the money when you need it most.
- The accounts come with strict and constricting rules, such as mandatory withdrawal by age 70 and a half. If you don’t meet the guidelines you could be subject to a 50% penalty.
- The accounts are subject to estate taxes, meaning that your heirs could be left with as little as 28% of your account balance when you die.
You need to escape this trap now while taxes are less than they’ll ever be. The Missed Fortune asset optimization strategies provide a way for you to roll your money out of qualified traps and into accounts that solve all the problems of 401(k)s.
Click here to get started now.
Bonus Missed Fortune E-Book: Baby Boomer Blunders
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 e-book now at www.babyboomerblunders.com.
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