Podcast: Download (22.9MB)
This week Doug Andrew discussed the following:
Upcoming Complimentary Webinar
Attend our free 90-minute webinar live over the Internet this coming Tuesday, June 8th 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 “True Asset Optimization: How to Choose the Right Investments.” You’ll learn how to maintain liquidity and guarantee safety of principal while earning a healthy, tax-free rate of return that outpaces inflation.
Register now by calling 1-888-76-Radio (888-767-2346). If operators are busy, please call again.
All attendees receive a bonus hardcover copy of Last Chance Millionaire, Doug Andrew’s New York Times best-selling book.
401(k)s: A Horrible Way to Save
In October of last year Time magazine published a story entitled “Why It’s Time To Retire the 401(k).” The article reports:
“…the 401(k) is a lousy idea, a financial flop, a rotten repository for our retirement reserves. In the past two years, that has become all too clear. From the end of 2007 to the end of March 2009, the average 401(k) balance fell 31%, according to Fidelity. The accounts have rebounded, along with the rest of the market, but that’s little help for those who retired — or were forced to — during the recession. In a system in which one year’s gains build on the next, the disaster of 2008 will dent retirement savings long after the recession ends.”
401(k)s are poor investments for most people because they expose investors to market volatility. Investors have little control.
Worst of all, with tax deferral all you’re doing is delaying the inevitable taxes, and taxes will not be lower in the future.
It’s a myth that you’ll be in a lower tax bracket when you retire. Even if your income is less, you don’t have the tax deductions you used to have.
The following Fram oil filter television commercial illustrates this concept perfectly:
*If you’re reading this in an RSS reader or email, you may need to click the title of the post to view the video.
Stop delaying the inevitable. Make wise decisions to protect your nest egg from taxes.
Set up a free appointment with a Missed Fortune advisor to learn how you can access investments that offer tax-free growth, tax-free withdrawal, and tax-free transfer to heirs.
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.
{ 0 comments… add one now }