Did you miss this week’s show? Doug Andrew discussed the following:
Attend our one hour event live over the internet on Tuesday at 11:00 am or 6:00 pm Pacific: Don’t miss your chance to understand how to protect your money during this economic crisis but get competitive rate 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 for either event on Tuesday.
Three solutions for economic stimulus: 1) Where is the flat tax? Let’s make taxes simple. How about a one page tax return that takes less than an hour to fill out. 2) Tax us when we consume, not when we conserve. 3) Privatize Social Security.
Five categories of financial mindsets: 1) Strivers - These are the people who have too much month left at the end of the money. They can also be called financial jellyfish. 2) Arrivers - Those who learn and apply money dynamics 3) Thrivers - These are individuals who understand how to use the three miracles of wealth accumulation. 4) Survivors - These are people who hunker down and stop doing what they use to do to accumulate their money. 5) Divers - These individuals will outlive their money!
New 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
With investing being more uncertain today because of banks closing, businesses shutting their doors forever, and despicable investors like Bernie Madoff no wonder one of the most asked questions we get is, “How safe is life insurance?”
Even insurance giant AIG has given the insurance industry a black eye. Insurance is the backbone of our financial system. But don’t take our word for it.
We could go on and on about the merits and safety of life insurance. Instead, click on the articles below for third party comments and praises…
Set up an appointment with one of our advisors to find out more how you can keep your money safe! If you already have an advisor tell them to contact us to find out how they can make your money safer than ever before! Call Toll-free 888-987-5665.
In my last blog article I talked about the magnitude of the national debt and the $100 trillion of unfunded liability the government has incurred with the Social Security system.
The government is short on meeting its current bills and will be significantly short on future promises. The USA is living beyond its means.
My opinion is that Congress is uselessly rearranging the deck chairs on a ship that is slowly sinking with too much debt.
Over the past several decades, the U.S. economy has become increasingly intertwined with the global economy.
From foreign investments in U.S. companies, to overseas outsourcing, to giant multinational corporations doing business around the globe, we are inextricably connected to the world market.
The current administration and Congress are making a futile attempt to regain choice and control over what has become a world economy, assuming their course of action will somehow mend the U.S. economy.
This approach will only lead our country to retrogress rather than progress. These are misguided efforts. The federal government is essentially investing in the wrong places with just more inefficient government programs.
We need to place choice and control in better hands-our hands.
If the $3.6 trillion this administration plans on spending to stimulate the economy were placed in the hands of the average American entrepreneur, I’m convinced the economy would be turned around within a year.
If the $3.6 trillion were credited to American tax payers in less withholding tax for several months, I’m sure people wouldn’t be investing the money in GM (Government Motors) stock!
My ideas for an Economic Stimulus Package that won’t cost tax payers $3.6 trillion would include:
Educating people on how to raise their credit score by 30 points or more, which would put $700 a month back into the average American’s monthly income.
Teaching people how to take ownership of their future rather than rely on the government to take care of them.
Rewarding people for saving and investing rather than taxing them for doing so.
Instituting a flat income tax of 15 - 20 percent for everyone, along with a national consumption tax.
Privatizing Social Security.
Since there is little chance of government giving economic choice and control back to the people, what we can do is empower ourselves. Sound financial education is the key.
Are you standing on the corner of “CONFUSED” and “TROUBLED”? It’s no wonder.
When David Walker, Comptroller General of the United States Government Accountability Office (GAO), left office about one-and-a-half years ago, he stated he needed to retire so he could tell the American public the truth.
The truth is we currently have national debt that exceeds $11.2 trillion, which represents a liability of $36,000 per American citizen.
Not only that, but the Trustees of Social Security estimate a current unfunded liability in excess of $100 trillion in 2009 dollars. This means that the federal government has obligated itself to pay more than $100 trillion over and above any taxes it expects to receive. In other words, that’s how much would have to be invested at US Treasury rates to pay the future liability owed to Social Security recipients who have faithfully paid into the system during their careers.
Most people can’t even begin to comprehend what $100 trillion is. It’s “100″ with 12 zeros to the right. Just $1 trillion would be $1 dollar bills lined up end-to-end from here to the moon and back-200 times!
Even though many believe that Social Security is our greatest entitlement problem, Medicare is six times larger in terms of unfunded obligations, according to David Walker of the GAO.
It would require $700,000 from every full-time working individual in America in order to cover this huge liability.
In the meantime, the interest alone on the national debt accrues at $41 million an hour (just under $1 billion a day)-that’s $690,000 per minute, or $11,500/second!
I concur with David Walker-we have a responsibility to face this honestly. We must not leave this burden behind to our children.
It is clear the federal government will be forced either to scale back drastically or raise taxes dramatically. Medicare and Medicaid alone will trump funding for national defense, energy, education-the whole works. The Congressional Budget Office estimates that, by mid-century, a middle income family will have to pay two-thirds of its income in taxes-and don’t forget the accompanying inflation!
The US economy is a sinking ship, and Congress is preoccupied rearranging the deck chairs, hoping that more weight on the portion still above water will bring the ship level. It’s time that Americans board a life boat and weather the economic storms ahead.
Doug Andrew
If you are getting this in email or RSS and can’t see the video, just click on the header to go to the blog to view it.
We want to welcome another two new stations to Missed Fortune Radio: WVNJ 1160 AM in New York City and KFLD 870 AM Tri-cities, Washington.
On this week’s show Doug Andrew discussed the following:
Generate a better retirement fund that will be totally tax free during your retirement years. Some day tax payers will have to pay our federal tax debt. Your current tax bracket is probably the lowest tax bracket you will likely ever be in. Rich people think like rich people do -poor people think like poor people do. The Vanderbilt family compared to the Rothschild family. Establish your own family empowered bank. Use a strategy that far outperforms IRAs and 401(k)s when it comes to preparing for retirement.
Free consultation and analysis with Missed Fortune. Call 888-76-Radio. Get a free 60 page customized report and experience clarity and new direction. Call for your free copy of Millionaire by Thirty or Last Chance Millionaire.
New 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
See Doug Live: Tuesday, May 12 in Salt Lake City, Utah 2009, 6:30 PM - 9:30 PM (Click here to register)
Whether everyone will have enough money to retire is a question that looms large today for 80 million Americans — the Baby Boomers born between 1946 and 1964.
The crisis? Most Boomers will not have enough accumulated for retirement to meet their needs, let alone their wants.
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 next egg.
The solution? Social Security isn’t the answer. Taking ownership is the answer — through asset optimization and equity management with proper financial planning.
David Walker our nation’s top “accountant,” the Controller General of the United States, gives an alarming prognostication of the economic peril of our country – he uses the “b” word – that’s right, Bankruptcy.
Listen to David Walker and some of his concerns on this You Tube Video
After hearing Walker’s blunt assessment of our government fiscal irresponsibility – spending more than we have at an unsuitable rate – a couple of questions come to mind. Am I, or anyone that I care about, counting on government sponsored retirement and benefit programs like Social Security or Medicare, or are we preparing as though our financial futures are dependent upon us alone? Secondly, have I learned my spending and saving habits from the worst example of all – yes I’m talking about your uncle, Uncle Sam?
A few principally sound take always to consider, of which none are incredibly revolutionary or hard to grasp:
· Live below your means – save more money than you spend
· Create a private retirement strategy
· Keep your money in a house of bricks, meaning, don’t leave it in houses of straw or wood
We hold informational webinars every Tuesday at 11 a.m. pacific and again at 6:30 p.m. pacific. The webinars detail the Missed Fortune strategies and explain why our clients haven't lost a dime in the worst economy since the Great Depression.
Are You a Striver or a Thriver? 
