Over the past decade or so, the fallacy that home equity should be “harvested” by means of mortgage refinancing or home equity loans and converted into equity in some other investment has been foisted upon Americans as a legitimate financial strategy.
The most common presentation of these schemes suggests that home equity should be redirected into what some advisors call ”investment grade life insurance.” Other schemes [...]
Mystery…No. 5 Volume Is More Important Than Rate
Every major product in the financial services business - every type of mutual fund, annuity, variable insurance product, bank CD, treasury bill, note and bond - proudly trumpets its rates. If 2% is good then 5% is better. If 6% compounded is wonderful then 8% compounded is marvelous.
The [...]
“The National Association of Fixed Annuities, Milwaukee, has voiced that concern in a member alert…
“NAFA sees the proposal as “a clear attempt to take control – read collect fees - on all product recommendations,” including recommendations involving life insurance, long term care insurance, health insurance, property-casualty insurance, savings accounts and fixed annuities, NAFA officials say.”
http://www.lifeandhealthinsurancenews.com/News/2009/5/Pages/NAFA-Pans-FINRA-Draft.aspx [...]
“The National Association of Fixed Annuities, Milwaukee, has voiced that concern in a member alert.
“NAFA sees the proposal as “a clear attempt to take control – read collect fees - on all product recommendations,” including recommendations involving life insurance, long term care insurance, health insurance, property-casualty insurance, savings accounts and fixed annuities, NAFA officials say.”
http://www.lifeandhealthinsurancenews.com/News/2009/5/Pages/NAFA-Pans-FINRA-Draft.aspx [...]
ING To Review “Strategic Options” For U.S. Ops; May Shift Annuity Book
By ALLISON BELL
Published 4/9/2009, National Underwriter
“ING Groep N.V. wants to reduce the scope of its U.S. operations ‘over time and as market conditions permit’…”
Full article à http://www.lifeandhealthinsurancenews.com/News/2009/4/Pages/ING-To-Review-Strategic-Options-For-US-Ops-May-Shift-Annuity-Book.aspx
ING is a good company with a solid base in the U.S. It is not, however, a U.S. company. [...]
Originally posted on July 24, 2008 and worth repeating…
Americans have been bamboozled into thinking that they can get rich and retire comfortably by putting their money in the hands of people whose only aim is to move money from your pocket into some Behemoth’s accounts; IRA’s, mutual funds, variable annuities, variable insurance policies, ETF’s, and on [...]
“Greed, for lack of a better word, is good.” Wall Street, 1987
The SEC is a Behemoth that works for other Behemoths, in particular the major Wall Street firms and their minions. The SEC, along with its junior partner FINRA, wear the mantel of a Robin Hood while concurrently robbing everyone in the neighborhood by supporting [...]
By Dr Benjamin Franklin and Dr Agon Fly
In 1758 Benjamin Franklin published the final annual installment of Poor Richard’s Almanac. As a preface to this final edition he wrote The Way to Wealth and introduced Father Abraham as the main character in the tale.
Father Abraham embodied the financial wisdom that “Poor” Richard Saunders – Ben [...]
I pay close attention to the financial news. It’s part of my job to know what’s really going on in the general economy so I can properly train other advisors and guide my personal clients with integrity.
Below are six articles from financial news sources from last week I encourage you to skim the first five [...]
America’s young people are trapped in a dysfunctional paradigm that is robbing them of the oppotunity to succeed.
“The June 2008 Greenberg survey, entitled “Young People: Living on the Edge” illustrates the severe impact of the current economic crisis on 18 to 34 year olds…
“Of the young adult participants, 75 percent say they have gone deeper in [...]