Movie Quotes
NO! To National Health Insurance…
August 14, 2009 | Author dragonfly
“What we’ve got here is failure to communicate.” Cool Hand Luke, 1967
The US Congress and the Executive Branch of the US government are not listening to America. America wants “soulutions” to problems not government take-overs.
Put this simple diagram of a Universal Health Care Program, which is being ignored in DC, in the hands of every American you know. Maybe, just maybe, someone will pay attention.
Why The SEC Really Wants To Regulate Indexed Annuities…
September 9, 2008 | Author dragonfly
“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 the self serving aims of the Behemoths. Now they want to get control of another bag of money.
‘Sheryl Moore, chief executive of AnnuitySpecs.com, estimates there were $25.1 billion in indexed annuities sold in 2007, down about $2 billion from their peak in 2005. While sales decreased, last year total indexed annuity assets reached $123 billion according to the SEC.”
Furor builds on SEC indexed annuity oversight plan
By EILEEN AJ CONNELLY, Associated Press http://www.forbes.com/feeds/ap/2008/09/08/ap5400800.html
The SEC claims that its aim is to protect consumers by further regulating an insurance product on the rather flimsy claim that Indexed Annuities are funded by investments.
DUH!
All insurance products are funded by investments. The simple fact is that the Wall Street wizards, who brought you the current credit and housing crises, now want to ‘fix’ the indexed annuity market.
BUNK!
The Wall Street Behemoths, who will be no more open and clear in their explanation of this product than current state regulations require, want to capture all that annuity money for themselves.
Consumers will actually lose since the Wall Street wonks will dishonestly demonstrate that these products don’t perform as well as the failed mutual fund industry, ETF’s and fee based advisors, thereby recovering the $123 billion that Wall Street’s Behemoths have been unable to get their greedy hands on.
American’s have been duped into believing that the SEC/FINRA are the watchdogs they were originally intended to be. They are not. They have morphed into watchdogs for the Wall Street Behemoths and their aim has become protecting the Behemoths from lawsuits by consumers as opposed to protecting consumers from the subterranean subterfuges of the Wall Street Behemoths.
Having said all that, it is clear also that the Indexed Annuity business is plagued with charlatans and snake oil sales reps that create a problem for the majority. The states have been too slow to effectively regulate these products and the people who sell them. The answer, however, is not to add a layer of bureaucracy that answers to the Behemoths.
___________________________
Posted in Legal, Ethical, Moral, Money, Movie Quotes, What Others Say | 
Tags: annuities, annuity, credit, investing, investments, Money | 
4 Comments »
The 21st Century Way to Wealth…”Do or do not…there is no try.” Yoda
August 30, 2008 | Author jr
The Way to Wealth…
By Benjamin Franklin, Commentary by Jeffrey Reeves
Having laid the groundwork for continuing his verbal treatise, Father Abraham translates the premises he’s postulated into a series of calls to action.
“Let us, then, up and be doing, and doing to the purpose;
These simplest of words carry profound meaning when it comes to you building your wealth. During the last thirty-five years Americans have lost track of the basic truth that working hard and following conventional wisdom – doing what everyone else does with their money just because that’s the way everyone else is doing – just isn’t enough. You need to invest your activity and decisions with meaning. You need to be ‘doing to the purpose.’
What purpose? Every successful personal economy has four essential goals: to be debt free, to develop an income stream that requires neither work nor active management, to have plenty of cash at hand when confronting life’s surprisingly unsurprising surprises, and, perhaps most importantly, to pay forward a legacy of both money and the secret wisdom about the way to wealth so future generations aren’t burdened with property they don’t own and investments they don’t control.
Father Abraham has other admonitions about how to travel the way to wealth.
“so by diligence shall we do more with less perplexity.
Diligence on the way to wealth means persevering with attention and care at building your personal economy. Diligence makes life simpler and less perplexing. That lets you get more done in less time and with less stress. Life is only a struggle for those who struggle with living.
Dr Benjamin Franklin’s Father Abraham has more insights…
“Sloth makes all things difficult, but industry all easy;
Motivational speakers, authors and coaches get paid millions of dollars every year to tell you the simple compelling truths that Americans have embraced for over 250 years and that Dr Benjamin Franklin’s Father Abraham popularized in the final installment of Poor Richard’s Almanac in 1758.
It’s no surprise that Dr Benjamin Franklin has become such an iconic person in history and folklore. He practiced what Father Abraham preached. He worked diligently at a wide range of tasks and became one of the wisest, most accomplished and most beloved men in history because of it…and he made it look easy.
Let’s consider a few more of Father Abraham’s ideas.
“and He that riseth late must trot all day, and shall scarce overtake his business at night; while Laziness travels so slowly, that Poverty soon overtakes him. Drive thy business, let not that drive thee;
I know a man that claims to be a ‘night person.’ He stays up late, sleeps late, gets to the office late, then works late. His family suffers, his health suffers, his business suffers, he complains about being overwhelmed on a regular basis. This man reads motivational books, attends seminars, studies Dr Benjamin Franklin’s works, yet he refuses to consider the possibility that his sleeping and work habits have anything to do with his everyday challenges.
Is this laziness? I don’t judge it, but Father Abraham implies as much and predicts the natural consequence – poverty. In America we may measure such a man as a success. He has a nice home in a nice neighborhood, drives a nice car and so on.
The hidden reality, however, is that he could be a better parent, a better spouse, a better provider, and of greater service to his clients. His income, his charitable giving, his health, life and peace of mind could all improve if he would put his business in perspective and give up the failed idea that he is a ‘night person.’
Father Abraham ends this discussion of “Do or do not…there is no try” with perhaps the most commonly quoted aphorism from Poor Richard’s Almanac;
“and Early to bed, and early to rise, makes a man healthy, wealthy, and wise, as Poor Richard says.
Bill Newman was one of the founders of the human potential movement and one of my mentors. He taught me by example that this approach to time and life management worked well.
I had hired Bill to conduct his PACE seminar for a group of my employees. I invited him to stay with my family for the two nights he would be in town. When he retired the first evening it was quite early and I asked him when he’d like me to awaken him. He said he would awaken at 5:30 and I need not worry. He did. He did so without the aid of an alarm. Bill had become so accustomed to rising early that doing so was automatic for him. I’m betting the same was true for Dr Benjamin Franklin and for thousands of other successful people for centuries and millennia.
I’ve personally followed this advice and practice for decades. I know that my life, my perception of the world, my peace of mind, my relationships, and every aspect of my life has improved since I adopted this approach to managing my work and my sleep. I also believe that, had I known about and followed this practice earlier in life, I would have avoided many of the mistakes I’ve made before, the many I’ve made since, as well as some I’ve yet to make.
Jeffrey Reeves
Posted in Money, Movie Quotes, What Others Say | Tags: ben franklin, benjamin franklin, diligence, poor richards almanac, sleep habits, sloth | 2 Comments »
What’s The Difference Between “Soulutions” To Money Problems And Conventional Wisdom…
July 21, 2008 | Author dragonfly
“Soylent Green is people!” Soylent Green, 1975
Conventional wisdom…
In the future world of Soylent Green, people looked forward to the occasional serving of a food, called Soylent Green that the Behemoth of that time doled out periodically. What they didn’t know was that the delightful and nutritious foodstuff was actually made from human remains. They followed the conventional wisdom of the time and questioned little if anything that their Behemoth fed them – food, ideas, solutions.
- Conventional wisdom is doing what everyone else is doing and thinking what everyone else is thinking just because that’s what others are doing and thinking.
- Conventional wisdom would have you believe that the Behemoths – governments, bureaucracies, unions, corporations, universities or any other organization that might hold sway over your native intelligence – know more about what’s best for you than you know yourself.
- Conventional wisdom would have you believe that the snippet of information in an oft-run TV commercial or one-hour “special report” is the essence of a truth that Americans should embrace as a guiding principle for their everyday lives.
- Conventional wisdom would have you not think at all and adopt solutions that move your money from your pockets into the accounts of the Behemoths.
- Conventional wisdom makes bad decisions feel good just long enough to fleece you and send you back to pasture to grow more wool.
Soulution
- Soulution was coined by Jeffrey Reeves to describe an approach to solving money problems that is based in awareness of who you are and of what’s really happening in the economic world you live in. It is also a tab on www.EUREKONOMICS.com
- The key element of every soulution to every money problem is found at the core of the person who has a problem and not in the cookie cutter answers that Behemoths dole out like Soylent Green.
- The EUREKONOMICS Model is not a soulution by itself. It is a distillation of the wisdom of the ancient Bible, the New Testament, philosophers, statesmen, economists and other wise people of every era and age.
- The EUREKONOMICS Model shows you how to lay a foundation and build a framework for your personal economy based on your unique situation but leaves the management and control of that economy in your hands.
Don’t settle for Soylent Green!
Jeffrey Reeves
__________________________
Posted in Money, Movie Quotes | Tags: agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, money wisdom, morningstar, morninstar report, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 401(k) plans, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Wall Street, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance, wisdom about money | 1 Comment »
Short Term – Money, Long Term – Investments, And Never The Twain Shall Meet…
July 12, 2008 | Author Dr Agon Fly
“There’s no crying in Baseball!” A League of Their Own, 1992
The baseball season is long and strenuous. Players, coaches and teams have to pace themselves. They recognize that one game in a long season – win or lose – is less important than consistently winning more than they lose. More importantly, a team has to win more than the other teams in their division if they want to get to the playoffs, compete for the league championship and make it to the World Series. We’ll get back to that in a paragraph or two.
The baseball season is like your financial season from the time you wake up to the reality that your financial future is in your own hands, till the time you pass on to the next world and pay forward the wisdom and wealth you accumulated during your earthly existence. So, like baseball, you don’t expect to win every time you make a decision about money and investing. What you aim for is consistently winning more than you lose – right?
Wrong. In many baseball seasons a team that lost its opening game and chanted the mantra, “It’s a long season; you can’t win ‘em all,” ended the season one half game out of first place, missed the playoffs, the league championship and the World Series. Every game counts and every financial decision counts.
Moreover, when a team prospers through the season and gets into the division playoffs, they are subject to defeat in the short term. And so it goes through division play and into the Series; victory or defeat is just the swing of the bat away. There are thirty teams in Major League Baseball but only one winner in the end.
So, also, when you get to the point where you want to live off your money and investments instead of your labor, you can have a great season right up to the end and lose in the short term. So, conclude for yourself that the short term is both more important and more manageable than the long term. Having money that you control in the short term is more important than having “long-term” investments that you don’t control, and that someone else – perhaps with motives that don’t serve you - does.
Every baseball team knows that winning or losing a single game could well leave them in front of their TV instead of in the dugout during the playoffs. Americans need to recognize that managing their money so that they don’t lose it is more important than hoping that some investment over which they have no control will miraculously get them into the playoffs and make them winners in the World Series of wealth building.
America has been duped into believing that is OK to lose money, that waiting out ‘the market’ is a strategy that serves them; that the future is assured if only they ‘stay the course.’
BUNK!
Americans need to wrest control of their money from the Behemoths that have seduced them into believing that bigger is smarter or better than they are, and that the Behemoths should be the custodians of Americans’ money instead of the individual Americans themselves.
_____________________________
_____________________________
Posted in Legal, Ethical, Moral, Money, Movie Quotes, Personal Financial Management, Retirement | Tags: financial decision, future, investing, investments, Money, wealth, wisdom | No Comments »
Geopolitics And Your Pocketbook – Why You Need Cash Money NOW
July 6, 2008 | Author Dr Agon Fly
“Go ahead, make my day.” Sudden Impact, 1983
It’s the 4th of July weekend and I’m getting pretty darn mad at the 535 Cowards in Congress. We Americans are willing to follow leaders who look out for us and the country but are tired to the bone of the Dolts in DC who spend most of their time and much of our money trying to damage the opposition and get themselves re-elected.
Gas prices are going through the roof. Food from afar – and every other item that arrives in a truck, plane, train, or automobile – is going up because gas prices are going up. Iran is threatening to squeeze the supply routes and put severe economic pressure on the world. Saudi Arabia refuses to increase production. Hugo Chavez is a fruitcake in a bowling shirt and wants nothing more than to prove that socialism is somehow better than democracy, state run everything is better than liberty and watching America suffer is better than TV.
The world – not just America – runs on oil. America currently consumes more oil per-capita – than any other country, but that is rapidly changing. China and India are increasingly demanding more oil and putting serious pressure on the supply and demand equation. Europe wants to become the dominant economic power in the world and needs an ever-increasing supply of oil to do that. Developing countries want and need more oil to build their economies.
So, here are the oil producing countries staring down America and Americans – and the rest of the world too – and threatening us with subtle and not so subtle “Make my day” threats while Congress debates and discusses what the rest of the world has proven;
-
nuclear energy works safely,
-
deep water drilling is economical and safe (Katrina proved that),
-
shale oil is extractable economically and ecologically,
-
ANWAR can be explored and could produce enough oil to take care of America for the decades it needs to develop alternatives that are less invasive – and fund the salvation of the polar bears in the process if that’s truly needed
-
and, finally, if we have leaders with the will, America will rise to the occasion and become the world’s leader in those alternative forms of energy
What does all that mean for us? American’s are going to suffer economic hardship in the short term because of the inaction and ineffectiveness of the Cowards in Congress. This problem’s been with us since the 1970′s and the Dolts in DC could have solved it ten times over if they had the courage to do so.
There’s darn little that individuals can do about it in their personal economies other than adopt a conservative financial strategy that cuts back on
-
consumer goods spending for cars, furniture, and luxuries
-
and puts
- saving money
- buying a house
- paying off the mortgage
at the top of the list, while other costly practices like
· investing in maybe-it’ll-grow mutual funds,
· the latest “Whatever 101″ miracle money making scheme,
· can’t-lose annuities that tie up your money for years, if not decades,
move to the dustbin.
Remember, when times get rough you need ready cash money and not the maybe-money from investments that guarantee only that they guarantee nothing.
_______________________________________
by Jeffrey Reeves, MA – www.youBEthebank.com
_______________________________________
Posted in Legal, Ethical, Moral, Money, Movie Quotes | Tags: economics, economy, ethics, Money, saving, savings | No Comments »
Real Estate and Whole Life Insurance: A Financial Marriage Made In America
July 3, 2008 | Author jr
“Louis, I think this is the beginning of a beautiful friendship.” CASABLANCA, 1942
This is going to be a brief but replete post.
Investment Real Estate
This post outlines a strategy that protects you against unforseen loss and guarantees a profit to your estate if you die owning investment real estate.
Every time you buy an investment property you have to establish a fund to assure that the taxes and insurance get paid, the maintenance gets done and that contingencies don’t derail the investment’s potential.
Whole Life Insurance
These expenses get taken care of If you put that money into a savings vehicle and draw it out as needed. If, however, you use a whole life insurance policy as your repository, there are other advantages that accrue. Here are just few:
- You can borrow the money from your policy to pay for these expenses and the policy will continue to earn interst and be credited with dividends as if you had not borrowed a penny.
- A single policy can support multiple properties’ money needs at once.
- With proper ownership and borrowing arrangements the money that flows through the policy will be entirely tax free.
- You can repay the money you borrow and perpetuate the usefullness of the policy for decades.
- At death your named benficiary will receive the face amount of the policy – less any outstanding loans – as a tax free death benefit.
There are, of course, many other benefits that a real estate investor can derive from the proper use of whole life insurance (not universal life insurance at this time) in support of an investment program. Consult a properly informed financial guide before launching such a program.
Posted in Movie Quotes, Whole Life Insurance, You BE the "Bank" | Tags: bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, debt, debt elimination, debt management, debt reduction, debt to others, financial, financial advice, financial advisor, financial planner, financial planning, housing market, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, life insurance, mass mutual, Money, mortgage, mortgage management, mutual insurance, mutual insurance company, universal life insurance, Whole Life Insurance, why buy whole life insurance, why whole life insurance, wisdom about money | No Comments »
Mutual Fund Misrepresentation…
June 25, 2008 | Author dragonfly
“Frankly, my dear, I don’t give a damn.” Gone With the Wind, 1939
It appears that the mutual fund industry is very much like the Congress. Proof again that Americans are being bamboozled by Behemoths whose only interest is in moving money from your pockets into their own accounts. This isn’t a personal opinion but the opinion of a mutual fund industry watchdog as Gary Halbert reports in his newsletter this week! Here are a few excerpts and a link to the full text.
A Shocking New Morningstar Study!
June 24, 2008
“…Morningstar released a study last week showing that many mutual fund managers have little or none of their own money in the very funds they manage …
“Yet the new Morningstar study shows that about half of the mutual fund managers they track have NONE of their own money in the funds they manage. ZERO.
“Morningstar found that 47% of US stock funds and 61% of foreign stock funds have no investment of the managers own money. Bond funds fare even worse with 66% of taxable bond funds, 71% of balanced funds and 80% of municipal bond funds having no manager investment…
Perhaps the most interesting part of the study was Morningstar’s analysis of its own Picks and Pans. This is a service provided by Morningstar where they select funds that may be good long-term investments (the Picks) as well as mutual funds to avoid (the Pans). When analyzing management investment in these two groups, Morningstar found that the Picks had a median manager investment of $430,000, whereas the median investment by the fund managers in the Pan category was $0…Get the message?”
Here’s the link to the whole article; http://investorsinsight.com/blogs/forecasts_trends/archive/2008/06/24/a-shocking-new-morningstar-study.aspx
______________________________
There are better ways to handle your money that the Behemoths won’t, don’t, or can’t talk about. www.TheMoneyForLifeBook.com
______________________________
Posted in Legal, Ethical, Moral, Money, Movie Quotes, Personal Financial Management, What Others Say | Tags: agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, morningstar, morninstar report, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 401(k) plans, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Equity Harvesting Is A Gamble Based On A Gamble…
June 20, 2008 | Author dragonfly
Easy Money Schemes and Dreams
“You got to know when to hold em, know when to fold em,
Know when to walk away and know when to run.”
The Gambler, Kenny Rogers
The Original Gamble
Equity harvesting is the practice of acquiring the highest possible mortgage on your personal home so you can “invest” the money derived from the equity that is extracted in another asset.
Don’t do it.
You Have to Lose to Win
It’s true that there is NO return on equity. That’s what the promoters of this scheme use as intellectual leverage. If you were counting on appreciation in 2010 and had to sell a property that was appraised for $500,000 in 2008 - thinking you would see an increase - you were probably surprised to learn that the property is now worth $400,000 - or less. If you had already “harvested” the equity in the property you may feel that you won by losing.
If you had a $300,000 mortgage in 2006 and had “harvested” the $200,000 in “non-working equity” to buy some other asset, you would now be facing a serious shortfall. Worse yet, if the asset you bought relied on a stock index for its growth potential, you may be looking at less than inflation or near zero growth in that asset also.
Does that make you a winner? Maybe if your consider bankruptcy a win.
Tax benefits?
Maybe, but not assured. The IRS doesn’t allow you to deduct the interest on equity lines over $100,000 and some investments disqualify deductions.
Now, we can make the situation worse. Most equity lines have variable rates and the lender has a great deal of leverage in raising and lowering the rate. You could have a loan rate that far exceeds the growth rate of the “investment;” a gamble based on a gamble and neither one paid off.
Retirement Income
Equity harvesting is presented as a safe way to increase retirement income. It isn’t all that safe and the increase is based on aggressive assumptions that are not always realistic.
Reality has to sink into the American consciousness sooner or later. The safe and easy path to prosperity and a secure retirement income lies in paying off the mortgage, getting out of the 401(k)/IRA schemes, putting money into savings and whole life insurance policies, and investing only when a solid financial foundation is in place.
by Jeffrey Reeves MA, EUREKONOMIST
Posted in Movie Quotes, Retirement | Tags: 401(k) plans, become your own bank, becoming your own banker, debt elimination, debt management, debt reduction, debt to others, financial, financial advice, financial advisor, financial planner, financial planning, housing market, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, life insurance, mortgage, mortgage management, Retirement, retirement income, retirement planning, saving, term life insurance, Whole Life Insurance, why buy whole life insurance, why whole life insurance | No Comments »
Reverse Mortgage Money Magic…
June 19, 2008 | Author dragonfly
Retirement Assets…
“Made it Ma! Top of the world! White Heat, 1949
Reverse mortgages are often portrayed as last-resort financial tools; reserved for widows and widowers who have outlived their liquid assets and have to tap the equity in their paid-for homes to survive a few more years.
Not so.
Meet Bob and Sally…
- They live in a $1.2 million home in a stable neighborhood in Denver. The house is paid for.
- They have three children.
- All three of the children are married.
- Each of the children is in a professional practice in a different city; Dalla, L.A. and Chicago.
- Each child has a six figure income.
- Each child has a family and has roots in their new communities.
- Bob and Sally also have a significant estate and estate tax staring them in the face.
The family is close and the children return to Denver for visits on major holidays and during the ski season. None of the children is interested, however, in owning the family home or moving back to the city they grew up in.
Creative Planning and Execution…
Enter the jumbo reverse mortgage. Bob and Sally obtained a reverse mortgage of about $500,000 on their home. They used about $400,000 to buy a condo in Vail, the family’s favorite ski location. They put the property in a trust and began a gifting program that shifts their ownership to the trust and the children over several years. The additional money was used to buy a large life insurance policy on Bob that will be paid to the trust when Bob dies and fund home owner association fees, upkeep, etc. for the condo for decades to come.
The benefits:
- Bob and Sally’s estate, and therefore their estate tax, is reduced because they transformed an illiquid asset into cash and transferred the cash to the condo and the condo to the trust.
- The children will still have an expense free place to get together during ski season and for other family events like graduations and marriages.
- In a few years, when Bob and Sally decide to move from the big house to a smaller place, they intend to sell the Denver house and use the equity retained after the reverse mortgage to buy a condo of their own in Vail. When they do, they will get another reverse mortgage on the condo and use that money to further fund the family condo or, perhaps, buy a bigger one.
Find Out More…
Reverse mortgages are one of the most powerful tools available to seniors today. For additional information go to http://www.nrmla.org/
Jeffrey Reeves
Posted in Estate Planning, Movie Quotes, Retirement | Tags: 401(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | 1 Comment »
I Have A Dream About Money, And An Investment Nightmare…
June 7, 2008 | Author dragonfly
People’s Dreams…
“As God is my witness, I’ll never be hungry again.” Scarlet O’Hara in Gone With the Wind, 1938
My Personal Observations…
Over the past 40 years I have been an insurance and financial advisor to small businesses, medical, legal, accounting, real estate and other professionals as well as executives, school teachers and brick layers – people from every profession and occupation it seems.
Perspective is What Really Matters…
Occupation, social status, race, religion or economic condition has made little difference in the successes of these clients. One characteristic or difference stands out:
- The Successful deal with their money and savings first and investments only after they control the money that flows through their lives
- The Failures pay attention to the “rate of return” on their investments and treat cash money and savings like an annoying second cousin or the stuff you get from the ATM with your debit or credit card
Investors and Scarlet Miss the Point…
Scarlet O’Hara’s dream became a nightmare because she paid attention to the wrong aspect of life. The dreams of financial failures become nightmares because they are looking at the wrong aspect of financial success. Investing is a way to accelerate the wealth building process; it is not the process and is not even essential to wealth building.
What is Wealth?
Wealth building begins and ends with accumulating money. Once you have some money, you can consider investing a small portion of it to accelerate your personal wealth creation. But, if you never invested a penny, if all you did was save money in conservative accounts, you would end up with a solid financial foundation; you’d be free from debt, have a secure lifetime income, have enough money to deal with life’s surprises and be able to pay wisdom and wealth forward to those you care most about.
There Are No Secrets…
The strategies and tactics that allow the Successful to wear the mantle of peace of mind about money are not new or revolutionary.
- In fact, the economic principles and financial management practices that lead to true wealth have been around for millennia and have been employed by astute Americans since before the founding of our country.
- In fact, again, the application of these economic principles and financial management practices contributed greatly to the founding itself. Were it not for the money saved by the founders, you might still be pledging allegiance to the Queen of England or the President of France.
There’s a serious–but easy to read–discussion about the failed Scarlet O’Haralike financial thinking that has led America and Americans to the brink of bankruptcy in Money, Now, Money Later, Money for Life. You’ll also find financial strategies and tactics there that have been tested and proven in America by Americans for over two hundred years. Strategies and tactics that you can start using the day you learn them.
Jeffrey Reeves
Posted in Money, Movie Quotes, Personal Financial Management | Tags: 401(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
How To Buy A Car And Make Money Doing It…
June 4, 2008 | Author dragonfly
“I’m king of the world!” Titanic, 1997
Americans have had a love affair with automobiles for over a century. We buy them with abandon; new, used, wrecked and restored. A car inflates our ego, provides useful transport and crystallizes our status. For many reasons it makes us feel like we are royalty; in charge of our world.
Unfortunately the opposite is true. Spending thousands of dollars on a product that is worth less than we paid for it as soon as we take possession deflates our bank accounts and our balance sheets at the same time.
There is a way, however, to profit from your car purchases. Here’s a thumbnail sketch of how it works.
My wife and I just bought our first car since 1993. We borrowed the $24,000 from two of our “banks” - we use participating whole life insurance policies for our banking – to buy the car and will pay ourselves back the same as if we had borrowed from Guido the Loan Shark or the local bank (both having about the same level of interest in our well being.)
If we had borrowed from the bank our payments would have been about $565 for 48 months and the total we repaid would have been just over $27,000. Once the car was paid for we would be free from debt and would own a virtually valueless vehicle.
Instead, we are going to repay our “banks” $600 each month for 48 months – a rate of return of about 9.25%. (Why not higher, since all of the money returns to us?). When those 48 months have passed we will have $28,800 in our “banks” and still have the virtually valueless vehicle. In other words, we will have captured, in our accounts, all of the money that otherwise would have gone to the bank as principal and interest.
Not only that, but our “banks” would have been earning interest on the money that we repaid so the actual internal rate of return would be even higher - approaching 13%. In addition, the earnings would be tax free and virtually guaranteed. Find that in the “markets!”
Granted, there’s a start up period where you have to accumulate money in your “banks”. That is not as hard as it may seem and you can start at any level you choose. Some have started with a few dollars a month and others with ten thousand dollars a month once they discovered how this process works to serve their interests and not those of banks and the other Behemoths.
Learn how The Money for Life Model lets YouBeTheBank and control the money that flows through your life. — www.TheMoneyForLifeBook.com
__________________________
Posted in Money, Movie Quotes, Personal Financial Management, Whole Life Insurance, You BE the "Bank" | Tags: 401(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
The True Cost Of Gasoline…
May 20, 2008 | Author dragonfly
“E.T. phone home.” E.T. The Extraterrestrial, 1982
How many American’s are going to “phone home” instead of going home this holiday weekend because they don’t want or can’t afford to spend the money it would take to fill up their gas tank three or seven times? Even for my high mileage compact it costs nearly $40 for a fill up.
The hesitation or inability to buy all the gas we need and want is a symptom. It’s not the disease. The disease is much more complex and affects manifold aspects of the lives of the typical American family. Let’s take a circuitous route to understanding the problem.
A plumber reported that the cost to replace about 15 feet of corroded galvanized pipe with copper and install a new sill-cock would cost about $300.00. That would include all the materials and repairing some damaged drywall.
If the homeowner took the position that he or she could do the job him or her self because he or she had read an article or two about this kind of repair and could buy all of the materials at the local home improvement store for about $75.00, you would think that person presumptuous and perhaps even foolish.
There’s a TV commercial that shows a surgeon on the phone to a patient suggesting that the patient could do his own appendectomy. Some home improvement stores suggest you can do anything around the house by taking one hour classes.
Several investment brokers run ads suggesting that you can invest successfully by occasionally getting information from a web site. Dozens of businesses offer “no interest and no payments” for 6, 12, 18, 24 months or longer.
When it comes to money, the Behemoths will say anything to get yours and make it theirs. Now, what the heck does that have to do with the price of gasoline and the trip you can’t afford to make to grandma’s house over the holiday?
Simply this; people who know how to handle their money are taking the trip. They are just as unhappy as you are about the price of gasoline and the cost of the trip, but they are in control because they have developed or discovered a way to deal with money that allows them to have what they need and want without regret or recrimination. They look forward with confidence and never look back with regret.
They have a guide that leads them through the jungle of claims and enticements and out of the swamp of misinformation and misleading advertising that traps so many Americans. You can join the informed minority that is in control of the money that flows through their lives, escape the swamp and build a personal economy on a solid foundation with a strong framework.
A great place to start –> www.TheMoneyForLifeBook.com
Posted in Money, Movie Quotes, Personal Financial Management | Tags: agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 401(k) plans, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | 2 Comments »
Learn More, Own More, Owe Less…
May 19, 2008 | Author Dr Agon Fly
“Carpe diem. Seize the day boys. Make your lives extraordinary.” Dead Poets Society, 1989
America! We have been bamboozled by BS from Behemoths (the name given to large corporations, unions and government.) As long as we adhere to their paradigm and wander like zombies through our financial lives, we are doomed to be, as Benjamin Franklin warned 200+ years ago, their servants.
Russ Wiles, a writer for the Arizona Republic, wrote this just a day or so ago:
May 18, 2008
Financial issues still baffling AmericansAre doctors and auto mechanics really easier to understand than financial professionals? One recent survey says so – the latest indication there’s a literacy gap out there when it comes to money issues.
Most Americans have a lot of financial burdens to carry, whether it’s simply paying the monthly bills or investing for retirement, drafting an estate plan or borrowing prudently. Yet many signs suggest millions of people aren’t up to the task.
The article goes on to discuss our lack of literacy, excess credit, failure to educate our youth and a variety of other observations. It’s time Americans take back their personal economies from the Behemoths and their minions. It’s time to “seize the day”; learn more about personal economies, own more of what we use every day instead of just using things that we finance; relying on debt for our well being instead of building wealth.
Carpe diem! –> www.TheMoneyForLifeBook.com
(Read the entire article here http://www.clarionledger.com/apps/pbcs.dll/article?AID=/20080518/BIZ/805180347/1005)
Posted in Debt, Money, Movie Quotes, Personal Financial Management, What Others Say | Tags: agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 401(k) plans, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Gold Ain’t Money Either…
May 7, 2008 | Author Dr Agon Fly
“Snap out of it!” Moonstruck, 1987
You can’t go shopping at WalMart and pay with gold. Gas stations don’t accept Krugerrands. The gold coins minted by the US government are for investors – not for circulation.
Wake up America!
You can’t buy wealth. If you buy gold in any form the person who sells it to you gets paid in cash not in gold – and it’s your cash. So does the stock broker, the real estate sales rep, the financial advisor or planner, the annuity sales rep and anyone else that sells investments of any kind. They work to sell you investments but they earn cash for doing so. HMMM!
Wealth is first and foremost the result of saving. You have to have cash to invest in anything. You have to save in order to have cash for investing. If you invest wisely your wealth will grow. If you invest all of your savings or invest out of income (think 401(k)) instead of from your saved money, you are taking a dangerous, imprudent and usually foolish risk. If your investments fail and you used all of your savings to invest, you have to start all over again.
There is a way to manage and measure your money that keeps you on a path to wealth – no matter what happens in the “market” – stock, gold, real estate, annuity, etc.
Conserving Capital Is A Capital Idea…
May 6, 2008 | Author dragonfly
The Role of Government
“Badges? We ain’t got no badges! We don’t need no badges! I don’t have to show you any stinkin badges!” The Treasure of the Sierra Madre, 1948
The people in the Capital of the United States of America and in the capitals of the states and territories are elected to conserve the American capital that supports the government that serves the people.
Civil servants manage that capital based on the guidance provided by the executive and legislative branches of government, but they can only conserve what the law allows. Many of our elected officials in Washington and in the 50 states are not even trying to conserve America’s capital.
Civil servants occasionally fall to their own greed and ego. Elected officials and their appointees do it on a regular basis. They feel that they don’t have to justify their greed and their egos. They hide bribery dollars in their freezers and complain when the FBI finds them. They carry on affairs with their lovers and appoint them to sensitive posts and feel fully justified. They support prostitutes in criminal enterprises that they are sworn to destroy. They coerce legislation for bridges to nowhere.
The list goes on. They “don’t need no badges!”
The Role of “We the People…”
Meanwhile the American people are struggling to pay their mortgages, buy groceries and gasoline, and create enough capital of their own so they don’t have to rely on the government.
Kevin and Cindy
Take Kevin and Cindy. At he young age of 60, Kevin fell to a disabling disease. Cindy, who was semi-retired, had to return to full time work to maintain a health insurance plan to cover Kevin’s substantial medical and medication costs.
Fortunately Kevin was granted Social Security disability benefits after 18 months and became eligible for Medicare. That saved Cindy the almost $300.00 she had to pay each month to have Kevin on her health plan. But their future isn’t all that rosey. Cindy will have to work for at least another five years before she can claim her retirement benefits at a level that will support the couple. If Kevin’s condition worsens, as it likely will, then the family may have to liquidate most of their meager assets and move him to a Medicaid long term care facility.
America is the richest country in the world and Americans, even those at the lower income levels, live better than folks in other parts of the world. Our elected officials, however, willingly waste the capital of the country on
- foolish projects,
- their own re-election campaigns,
- prostitutes
- their personal aggrandizement and securing their own futures,
- kowtowing to business lobbies (like the oil interests) and rabid America haters in fringe groups (like those funded by George Soros) and, perhaps worst of all,
- they use all of thier left over energy - and our financial resources - trying to defeat and embarrass those they do not agree with in other branches of government.
“We the People…” Deserve Better
Kevin, Cindy and the rest of us deserve better. If America’s legislators were honest in their dealings, they could allocate America’s capital to assure that every American is able to care for themselves and their loved ones when life delivers a surprise at their front door. They could allow us to control of the money that flows through our lives and care for ourselves without government intervention.
The Safe and Easy Path to Prosperity
You can do this for yourself today by following the principles and practices of EUREKONOMICS™ found in Money for Life…how to Thrive in Good Times and Bad
by Jeffrey Reeves MA, EUREKONOMIST
____________________________________
Now accepting orders for Money for Life…(Thrive) in good times and bad –> www.TheMoneyForLifeBook.com
____________________________________
Saving Money Is In America’s DNA…
May 5, 2008 | Author Dr Agon Fly
“You talking to me?” Taxi Driver, 1976
Yes. Even if you haven’t a penny in the bank, I’m talking to you.
Pat was divorced early in life. He never fully recovered from the trauma and never remarried. Over the next 24 years, however, he became quite a successful salesman for an industrial supply company. He took what he considered to be good advice and maxed out his 401(k), contributed to an IRA when possible and bought into the companies stock purchase plan; he amassed quite a corral of assets. Pat chose not to create a “bank” of money aside from that.
Then reality struck.
Pat had remained close to his children over the years. In 1999 his oldest daughter suffered a stroke. His former wife and his other children had moved out of state. The care of his daughter fell on his shoulders. Since Pat was earning a significant income the financial pressure was bearable.
Then reality struck again.
Shortly after that in late 2000 the company he worked for was acquired by a major competitor and Pat was terminated. His company stock was automatically cashed in as a part of the buyout so Pat incurred a large tax liability and reduction in value as a result. He rolled his 401(k) into his IRA account on the advice of his broker. Also on the advice of his broker, he invested his “retirement” accounts in what was considered safe but still fairly aggressive mutual funds. (Hindsight tells you where this is headed, but it sounded like a good idea at the time.)
And, again!
By the summer of 2001, at the young age of 55, Pat had given up on finding work. His daughter’s care and his own monthly expenses had drained the money he received from the stock sale. Pat decided to start his own business. He no longer had a no-compete limitation and he still had his old customer relationships so he cashed in some of his IRA investments, paid penalties and taxes, bought some inventory and went to work.
And again on 9/11…
Pat’s infant business took an immediate hit as devastating to him as the hit to the Twin Towers was to the rest of us. Not only that, but the value of his investments fell over 62%. Pat was suddenly struggling to make ends meet, care for his daughter and salvage a business he had started on a shoestring.
Your Personal Economy
Pat’s story is not yet ended but it has served its purpose for this post. Pat’s American DNA motivated him to “save.” His advisors – and most of the pundits, publicists and prognosticators who rely on the Behemoths for their information and advice – led him down a path that led him and millions of other Americans into a dungeon of debt.
In Pat’s case the debt was mostly to his company and to the government. His stock had strings attached so he really didn’t entirely own it and the price he received was not based on value but on the whim and greed of his employer. His “savings” in tax qualified plans were really nothing more than loans from the government at an unspecified interest rate to be repaid later disguised as a current deduction and a future liability.
Every successful personal economy has four clearly defined characteristics and achievable goals:
- Freedom from debt to others – including debt to the government disguised as a future tax liability
- Income you don’t have to work for but you won’t outlive that is protected from inflationary pressures
- Ready cash to deal with the surprisingly unsurprising surprises that we all experience
- A legacy of wisdom and wealth to pay forward to those we care about
Does your personal economy measure up? It can –> www.TheMoneyForLifeBook.com
Posted in Money, Movie Quotes, Personal Financial Management, Retirement, The Four Pillars | Tags: agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 401(k) plans, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Save, Invest, Gamble or Become Your Own Banker…
May 2, 2008 | Author Dr Agon Fly
“Is it safe?” Marathon Man, 1976
SAVE…
When you save money, you’re guaranteed – insofar as that’s possible – to have more money at the end of each year than you had at the beginning. Interest increases the value of your savings and inflation and taxes gnaw at the growth that interest provides. This condition makes choosing a tax advantaged savings product an important part of your decision.
Cash value life insurance and deferred annuities have provided the perfect reservoir for savings for almost 200 years in America. Cash value life insurance – especially dividend paying life policies from mutual companies – have proven more effective than annuities because these policies allow you to access the cash values without penalty or taxes whenever you need to; a benefit not available with annuities.
INVEST…
Investing involves a much greater risk. When you invest in stocks, real estate, precious metals, commodities, etc. you are buying an ownership position. The future value of your investment is contingent upon the performance of your equity in a market over which you have no control. When your investment is debt – bonds, loans, etc. – your investment is safer but still relies on the success or failure of the entity to which the loan is granted.
Investors have to believe that they can see “across the valley;” that the future is reliably predictable by the past; that the ups and downs of the market in which they are investing will repeat themselves in a way that allows the investor to profit. This belief is the initial motivation but is challenged and becomes untenable when the investor needs money and the investment is in the valley.
GAMBLE…
Both saving and investing involve a gamble. The saver is gambling that inflation and taxes will allow some growth. The investor is gambling that the invested money will eventually grow beyond what could be expected in a savings program and will not be in a trough when money is needed and the investment has to be sold.
BECOME YOUR OWN BANKER…
There is a better way. If saving and investing are managed properly, the risk can be diminished and even removed when savings are used to fund purchases of both the things you need and want and the investments you wish to make. The business of becoming your own bank involves radically changing your mind about money, debt, saving and investing.
Americans have been lured into the Debt Paradigm and trapped in a dungeon of debt. The Money for Life Model teaches you how to handle your money in a way that serves both your short and long term financial goals without forcing you into a beans and rice lifestyle.
You owe it to your self to level out the valleys, to learn more and to own more –> www.TheMoneyForLifeBook.com
_________________________
Posted in Money, Movie Quotes, Whole Life Insurance, You BE the "Bank" | Tags: agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 401(k) plans, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
SOLD! 4,000 Copies of “Money for Life”
April 30, 2008 | Author dragonfly
“They’re here!” Poltergeist, 1982
Writing a book is a daunting task, but publishing a book and getting it to market makes writing feel like a walk in the park on a warm, sunny spring day – like today in Colorado.
Money for Life
In April of 2008 I wrote…
2,000 copies of Money for Life…How to Thrive in Good Times and Bad will arrive at my front door within hours and will get carried to the processing stations we have built in our basement. Our first task will be to inform those who bought the e-book how they can get their promised paperback copy.
We’ll then be sitting on $60,000.00 of inventory, a reasonably well defined and practiced fulfillment process and only a glimmer of intelligence about how to sell those 2,000 books and realize the profit they hold. Not that we haven’t studied the “how to” of selling; we have. It’s just that the process is so convoluted and complex that implementing it becomes a frog-in-the-well exercise – move forward two hops and slide back one; and, the well is very deep.
We hope the thousands of visitors to this blog have found benefit from what’s written here almost daily and recognize that the content of the Money for Life Book addresses the same topics in greater depth and offers more guidance than is possible in a few hundred daily (almost) words.
Special Discount Offer
We encourage you to take advantage of a SPECIAL OFFER –>
The paperback version of Money for Life…How to Thrive in Good Times and Bad is now available on this site for $19.95 – 33% off the Amazon price of $29.99
Posted in Money, Movie Quotes, You BE the "Bank" | Tags: book on money, books on money, books on personal finance, financial advice, financial advisor, financial planner, financial planning, jeff reeves, jeffrey reeves, life insurance, mass mutual, money book, money books, money for life, nelson nash, personal financial books, r nelson nash, The Four Pillars, Whole Life Insurance, why buy whole life insurance, why whole life insurance | No Comments »
Risk Management Must Read…
April 29, 2008 | Author dragonfly
“Elementary, my dear Watson.” The Adventures of Sherlock Holmes, 1939
Nothing is more elementary than risk management when it comes to saving, investing and financial planning. If you, or your advisors, allow the focus to shift to the ever fickle “rate of return” you will soon find yourself out of money or in bankruptcy.
Gary Halbert is insightful. His perspective reflects the common sense that is often wanting in less mature pundits and advisors. I encourage you to read the excerpt from his recent newsletter. It is loaded with wisdom. Better still, take some time and link to the entire article and soak up some of the ideas and information that makes a successful saver and investor, and creates a successful personal economy.
The Stock Market’s Decade-Long Drought
by Gary D. Halbert
April 22, 2008
IN THIS ISSUE:
- The Stock Market’s “Lost Decade”
- The Importance Of Risk Management
- Lesser-Known Investment Risks
- How To Determine Your Own Risk Tolerance
__________________________________________
The Importance Of Risk Management
Stock market volatility during the recovery phase of a sideways market is often significant, and the last couple of years have been no exception. This volatility is like riding a roller coaster for many investors. New interim highs make them feel that a market rally has taken hold, only to then experience yet another downhill run. Some who can’t stand the fluctuations in value get out of the market and sit on the sidelines, often without any plan for how to get back into the market later on.
No matter what the cause, the market’s recent action underscores the inherent risk of investing in the stock market. It also shows the danger of the buy-and-hold strategy, especially one that recommends investing in unmanaged “index” mutual funds. Sure, the markets will likely rebound eventually, but that will be of little consolation to investors who need their money now for retirement, or who may have bailed out of the markets at or near the bottom.
In past E-Letters, I have illustrated the relationship between losses and the amount of return you have to earn just to get back to where you started. Whenever I reprint this “break-even” table, I receive quite a response from readers indicating how this information opened their eyes to the risks they were taking. Because evaluating risks and avoiding large losses is so important, I have reproduced that break-even table below:
Amount of Loss
IncurredReturn Required
To Break Even10%
11.1%
15%
17.7%
20%
25.0%
25%
33.3%
30%
42.9%
35%
53.9%
40%
66.7%
45%
81.8%
50%
100.0%
60%
150.0%
70%
233.3%
To demonstrate the point of this table, the S&P 500 Index plunged apprx. 45% from its high of 1527.46 during the bear market of 2000-2002. Buy-and-hold index fund investors who suffered that 45% decline had to earn a total cumulative return of over 81%, just to get back to where they were in March of 2000, and it took them over seven years to do so.
However, even though the S&P 500 Index hit a “new record” in May of 2007 (and eventually climbed as high as 1565.15 on October 9th), the subprime debacle and potential recession have taken buy-and-hold investors back under water again! The S&P 500 Index closed at 1390.33 last Friday, down 175 points from its 2007 record territory.
For Nasdaq investors, the situation is much worse. Those who rode the market all the way down, over 70%, will require a return of over 233% just to get back to even, and the Nasdaq Index is nowhere near that point now, some eight years later.
This further illustrates that it is critical to avoid incurring large losses in the first place. If you can keep losses to a minimum, then you spend less time having to make up for lost ground.
Read the entire article here –> http://www.investorsinsight.com/blogs/forecasts_trends/archive/2008/04/22/the-stock-market-s-decade-long-drought.aspx
__________________________
SPECIAL OFFER –> The paperback version of Money for Life…in good times and bad – How to Thrive in the 21st Century will be released on May 1st, 2008. Everyone who buys the e-book version before May 1st will also recieve an autographed copy of the paperback when it is release. No special codes are needed. Thanks for making the purchase befor April 30th. Shipping and handling charges will still apply. –> www.TheMoneyForLifeBook.com
Posted in Money, Movie Quotes, Personal Financial Management, What Others Say | Tags: agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 401(k) plans, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
The Velocity of Money…
April 28, 2008 | Author dragonfly
“Wait a minute. Wait a minute. You ain’t heard nothin’ yet!” The Jazz Singer, 1927
In our family lives, money moves pretty quickly. First, the government takes a large chunk before we even receive our spendable pay. Next, health care costs and “retirement” deductions reduce our take home pay even further. That money moves at electronic speed.
When we do get money into our checking accounts or our pockets, it flies out almost immediately to pay the rent or the mortgage, utilities, cable, groceries, clothing, education, other necessities of living, and – most damaging – interest; on credit cards, car payments, store charge cards, payday loans, and on and on…
If you would like to get a handle on the velocity of your money, I encourage you to visit the Money for Life site below and order your FREE copy of Why Budgets Don’t Work. This brief white paper was written to benefit the regular subscribers to the Money for Life Newsletter and is the starting point for many who have gained control of the money that flows through their lives.
You will find the information and practices useful and reliable in every kind of economy – but especially in your personal economy.
Best wishes for success.
__________________________
SPECIAL OFFER –> The paperback version of Money for Life…in good times and bad – How to Thrive in the 21st Century will be released on May 1st, 2008. Everyone who buys the e-book version before May 1st will also receive an autographed copy of the paperback when it is release. No special codes are needed. Thanks for making the purchase before April 30th. Shipping and handling charges will still apply. –> www.TheMoneyForLifeBook.com
Posted in Money, Movie Quotes, Personal Financial Management | Tags: agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 401(k) plans, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Putting Money Into Your Home…
April 20, 2008 | Author dragonfly
“Oh, Jerry, don’t let’s ask for the moon. We have the stars.” Now, Voyager 1942
This weekend my financial planner son-in-law and I are completing the renovation of a room addition that was made by former owners several decades ago. We are installing all new windows, doors, electric, lighting, plumbing, insulation, drywall, flooring and cabinets…whew! In other words, we are building a new room addition using only the basic framing from the old.
The cost of the project, including the cost of subcontractors, will be about 2% of the value of the house but will be creating about 8% more usable space, and that space will be fully updated 2008 space in a 1946 vintage house.
We Americans often overlook value in housing and opt for square footage or prestige. We sink lots of money into a residence that is more appearance than substance. We make improvements that satisfy personal wants and needs but don’t add true value. If you’re considering a home improvement, use a formula like the one above to determine the value the improvement will create.
A two dollar improvement that adds an eight dollar room is worth doing. An eight dollar improvement that adds a two dollar space is not.
Don’t ask for the moon when you already have the stars.
________________________
SPECIAL OFFER –> The paperback version of Money for Life…in good times and bad – How to Thrive in the 21st Century will be released on May 1st, 2008. Everyone who buys the e-book version before May 1st will also receive an autographed copy of the paperback when it is release. No special codes are needed. Don’t be an April fool; make the purchase before April 30th. Shipping and handling charges will still apply. –> www.TheMoneyForLifeBook.com
Posted in Money, Movie Quotes | Tags: agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 401(k) plans, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Borrowing The Government’s Money…
April 19, 2008 | Author dragonfly
“Greed, for lack of a better word, is good.” Wall Street, 1987
Wes thought himself a pretty well informed financial advisor and planner. For years he’s told his clients to max out their 401(k) plans and put as much as possible into IRA’s and other tax sheltered programs. His premise is that taxes saved today are better than taxes paid later; that tax rates in retirement will be less than tax rates during one’s working career; that using the government’s money is always better than using one’s own money.
He followed his own advice in this regard and was now about to retire. To test the theory behind his 40+ year practice, Wes looked back over the strategies he used during his working life. He was shocked when he realized that the taxes he saved were nothing more than loans that the government was granting him and millions of other Americans. He finally sees that the taxes - also known as ”interest” – he would pay during retirement greatly exceeded the benefit he gained from the deductions – also known as “loans” – the government granted him earlier in life.
Wes had charts and graphs and hypothetical illustrations that “proved” his theories – theories promoted by the vast majority of financial advisors and planners. But, now Wes is faced with the reality that his successes are going to cost him much more in post retirement taxes than the taxes he saved.
But wait! The issue isn’t really about taxes. Isn’t the real issue net income after taxes?
Yes and no. Wes saw that his sophisticated planning and disciplined investing created a significant pool of money over the years and his retirement income would be more than adequate to his needs. He also saw, however, that had he followed a less sophisticated and less government dependent approach he could have had an equivalent or even better retirement income and pay few if any taxes, and he would be able to pay forward his money-wisdom and a much greater portion of his wealth to those he cared about.
“Greed, for lack of a better word, is blind.” Dr Agon Fly, 2008
Using other people’s money – even if it’s the government’s – is never ever a wise financial move. Learning to control the money that flows through your life in a way that let’s You Be The Bank is safer, steadier and more secure.
_________________________________
SPECIAL OFFER –> The paperback version of Money for Life…in good times and bad – How to Thrive in the 21st Century will be released on May 1st, 2008. Everyone who buys the e-book version before May 1st will also recieve an autographed copy of the paperback when it is release. No special codes are needed. Don’t be an April fool; make the purchase befor April 30th. Shipping and handling charges will still apply. –> www.TheMoneyForLifeBook.com
Posted in Money, Movie Quotes, Personal Financial Management, Retirement, Taxes | Tags: Add new tag, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Tags: 401(k) plans, Tags: 801(k) plans, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Easy Money – Or Not…
April 15, 2008 | Author dragonfly
“If you build it, he will come.” Field of Dreams, 1989
Bernice and Morrie were born poor. They want to escape the demands of a personal economy based on systematically acquiring wealth through saving, debt elimination and building equity in investments that are fully paid for. They are always looking for easy ways to get more money and more of the stuff that money can buy.
Bernice and Morrie are the perfect candidates for every scam that comes down the road. The scammers – even the ones with high visibility and having great reputations like Bear-Stearn – know that any product or investment that promises easy money attracts people who are looking for easy money.
Whether it’s a dishonest sales rep selling a product, a shady advisor selling an investment, one of the financial pundits on television or radio, an infomercial promising easy wealth in real estate investing, a book or seminar guaranteeing profit without risk or even the US Government promising a comfortable retirement based on current tax deductions (think about that for a minute) - the con artists know that if they build it, some will come.
Bernice and Morrie are trapped in a dysfunctional financial model that incessantly chants its mantra: “You can have everything you need and anything you want as long as you have enough credit!” You can have the sixty inch flat panel TV from the big box store, the new SUV, the dream vacation, the lavish “it-only-happens-once-in-a-lifetime” wedding, the upscale home in the hottest new neighborhood, a perfect retirement based on current tax deductions – a disguised form of credit.
To this way of thinking “I can afford it” really means you have enough income to make the payments – including huge amounts of interest and future taxes. It whispers that you only get to use the things you “buy”; that you really don’t own them. But, it shouts that just “having” them proves your wealth and worth. This model is called the Debt Paradigm.
The corollary of the debt paradigm mantra that glorifies credit is the one that says it’s easy to become wealthy; just follow the advice of the TV pundits, the financial media and the advertising of the Behemoths and you too can be a Donald or an Oprah.
BUNK!
This model is designed to make others wealthy at your expense. It makes bad decisions feel good.
Bernice and Morrie discovered the fallacy of this approach in 2001 and 2002 when the lost most of their wealth to the completely unpredictable stock market and then lost most of their home equity in 2006 by following the advice to mortgage their home to the max and “invest” – aka gamble – their equity.
Fortunately Bernice and Morrie are still relatively young; in their mid forties. They have restructured their personal economy;
-
they bought a smaller home
-
they are using an equity acceleration program to pay off the mortgage in 10 years or less
-
they are contributing to cash value life insurance policies on themselves to build their personal “banks”
-
they are committed to use only those banks to borrow for future consumer purchases so they can recapture all of the principal and interest that they would otherwise pay to credit grantors
-
they are adding money to their children’s “banks” and teaching them how to borrow and repay that money when they need it for education, auto-purchases and even their homes
Bernice and Morrie have abandoned the Debt Paradigm and adopted the Money for Life Model.
_____________________________________________
SPECIAL OFFER! –> The paperback version of Money for Life…in good times and bad – How to Thrive in the 21st Century will be released on May 1st, 2008. Everyone who buys the e-book version before May 1st will also receive an autographed copy of the paperback when it is release. No special codes are needed. Don’t be an April fool; make the purchase before April 30th. Shipping and handling charges will still apply. –> www.TheMoneyForLifeBook.com
Posted in Money, Movie Quotes, Personal Financial Management | Tags: 401(k) plans, 801(k) plans, Add new tag, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Clarity About Money – Revisited, Again…
April 12, 2008 | Author dragonfly
“Love means never having to say you’re sorry.” Love Story, 1970
The second question that came up about Flo, Many Jane and Vern was, “What happens to the relationship with the kids if Mom uses a Money for Life Guide instead of Vern, who is in a competitive position?”
Vern worked for a Behemoth – a large publicly held corporation or government agency. He was bound to a set of practices designed by his employer. The Behemoths and their minions generally have three goals built into whatever they do.
- Get as much of the customer’s money as possible into the Behemoth’s coffers
- Sell investment and insurance products that produce the highest income for the Behemoth
- Restrict the activity of its brokers to avoid law suits by disgruntled customers
The Money for Life Guide might have been able to explain the principles and practices that s/he used to create the foundation and framework for Flo to Mary Jane and Vern. It’s more likely that the peace of mind and security that accrued to Flo by following the Money for Life Guide’s advice would have been evident to the kids and caused them to learn more.
In any event, it is seldom wise and never the responsibility of parents to conduct business with children – especially when the future security of the parent is at stake, as it was with Flo. If Mary Jane and Vern were honestly concerned about Flo and her future they would recognize this themselves and accept Flo’s decision.
“Love means never having to say you’re sorry.”
___________________________________________
SPECIAL OFFER! -> The paperback version of Money for Life…in good times and bad – How to Thrive in the 21st Century will be released on May 1st, 2008. If you buy the e-book version before May 1st, you’ll also receive an autographed copy of the paperback when it is released. No special codes are needed. Make the purchase before April 30th. Shipping and handling charges will still apply. -> http://www.themoneyforlifebook.com/
Posted in Legal, Ethical, Moral, Money, Movie Quotes | Tags: 401(k) plans, 801(k) plans, Add new tag, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Clarity About Money – Revisited…
April 11, 2008 | Author dragonfly
“You know how to whistle, don’t you, Steve? You just put your lips together and blow.” To Have and Have Not, 1944
Yesterday I talked about Jerry’s widow Flo. I described how her daughter Mary Jane and her son in law Vern failed her and left her in a state of near poverty. The blog got a couple of questions that motivate a follow-up.
The first question was, ”What would a Money for Life Guide have done for Flo?” Knowing how to deal with money and knowing how to whistle do not come naturally and Flo wouldn’t have a great deal of time to learn.
Jerry died at age 63. He left Flo, age 62, with $250,000.00 in life insurance, almost $200,000.00 in IRA money, a $190,000.00 home that was paid for and $90,000.00 in savings and bank CDs.
A Money for Life Guide would have diversified Flo’s investments. S/he would have placed the life insurance proceeds and IRA money into a variety of secure, guaranteed income annuities. These would deliver initial cash flow of about $2,250.00 per month without using any principal. Flo’s income could increase if the underlying investments performed well, but would never decrease.
Flo also qualified for $1,800.00 per month in Social Security benefits. This benefit also has an inflation hedge built in. In other words, Flo would be debt free – remember that her home was paid for – and have an income of over $4,000.00 per month that she didn’t have to work for but that she wouldn’t outlive.
Flo’s Money for Life Guide would also move much of the $90,000.00 that was in the bank into a cash value life insurance policy over a period of four or five years. This creates a death benefit legacy for her daughter and for her possible grandchildren.
The cash values in her life insurance policies are still accessible by Flo if she needed them for any reason. In addition, the principal amount in her annuities, along with the equity in her home serve as Flo’s hedge against future medical and long term care expenses.
To summarize: Flo has set the four pillars of a successful personal economy. She is
- debt free,
- has an income she doesn’t have to work for and she won’t outlive,
- have money to deal with life’s surprises and
- leaves a legacy of wisdom and wealth for those she cares about
Finally, Flo continues to work part time at her passion but does not earn enough to reduce her social security. This money is being deposited into another cash value life insurance policy – another “bank” – that Flo can access if and when she ever needs it and add to her legacy if she doesn’t.
_____________________________
SPECIAL OFFER! –> The paperback version of Money for Life…in good times and bad – How to Thrive in the 21st Century will be released on May 1st, 2008. If you buy the e-book version before May 1st, you’ll also receive an autographed copy of the paperback when it is released. No special codes are needed. Make the purchase before April 30th. Shipping and handling charges will still apply. –> www.TheMoneyForLifeBook.com
Posted in Money, Movie Quotes, Personal Financial Management, Retirement, The Four Pillars | Tags: 401(k) plans, 801(k) plans, Add new tag, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Clarity About Money…
April 11, 2008 | Author dragonfly
“We rob banks.” Bonnie and Clyde, 1967
Florence was a teen during WWII and one of a dozen children. She and her husband, Jerry, had only one child and lived a very comfortable life in one of the nicer neighborhoods of a medium sized mid-western town.
Flo, as she was known to her friends and family, was widowed a few years ago. Jerry had always managed their money, so Flo was not really ready when it came to taking charge of the families finances. In desperation but with confidence she turned to her daughter Mary Jane, an accountant, and her husband Vern, a broker for one of the Behemoths.
As it turns out, Mary Jane and Vern could have been named Bonnie and Clyde. What Vern didn’t lose of Flo’s money in the market, Mary Jane spent.
Today Flo is living on Social Security, income from a reverse mortgage, and a small pension; her credit card balances are also creeping upward. The six figure life insurance policy proceeds and substantial savings that Jerry left her are gone. Her daughter and not-too-bright-or-honest son in law Vern are promoting a program that has families taking all of the equity out of their homes and putting it into financial products that promise amazing returns but guarantee nothing.
Bonnie and Clyde, as reprehensible as they were, were at least honest about what they did; “We rob banks.” They didn’t want the peoples money. They wanted the banks’ money.
Money for Life…in good times and bad is a book that teaches you how to handle your money in a way that lets YouBeTheBank, and also teaches you how to keep your money safe from modern day Bonnies and Clydes.
If Flo had been advised by a Money for Life Guide, she would still have all of her money, no debt, a significant income she wouldn’t outlive, and a legacy to leave to her grandchildren – and perhaps to Mary Jane and Vern if they chose to follow and teach Money for Life instead of using every scheme that came along to put other people’s money into their pockets.
SPECIAL OFFER! –> The paperback version of Money for Life…in good times and bad – How to Thrive in the 21st Century will be released on May 1st, 2008. Everyone who buys the e-book version before May 1st will also recieve an autographed copy of the paperback when it is release. No special codes are needed. Don’t be an April fool; make the purchase befor April 30th. Shipping and handling charges will still apply. –> www.TheMoneyForLifeBook.com
Posted in Money, Movie Quotes, Personal Financial Management | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
The Investments You Need…
April 10, 2008 | Author Dr Agon Fly
“I’ll get you my pretty, and your little dog too.” The Wizard of Oz, 1939
A commercial that is currently running on TV explains how easy it is for you to move your money from wherever it is now into “the investments you need” and the coffers of the company running the ad. It’s their way of saying “I’ll get you my pretty…”
The problem with this ad and so many others like it is that most Americans don’t need investments. Most Americans NEED:
- ~ to get out of debt
- ~ to save money so they can turn it into income they don’t have to work for and that they can’t outlive
- ~ to insure that they can pay the bills when the unexpected happens – and it always does
- ~ to teach those they care about how to stay out of debt, how to avoid the BS of the Behemoths about “needing” investments, and how to be their own bankers
I once asked a group of small business owners what they would call a person who accomplished these four goals. I got several answers but the one that garnered the most attention – and laughs - was made by a woman that owned a drapery company: “I’d call that person” she said, “a figment of your imagination.”
She was and is wrong. Many Americans have discovered that being one’s own banker is a safe and sure way to achieve these goals – a way that is possible for everyone who chooses it. You can do this and Money for Life…in good times and bad gives you the road-map, the tools and the guidance to do it.
SPECIAL OFFER! –> The paperback version of Money for Life…in good times and bad – How to Thrive in the 21st Century will be released on May 1st, 2008. Everyone who buys the e-book version before May 1st will also receive an autographed copy of the paperback when it is release. No special codes are needed. Don’t be an April fool; make the purchase before April 30th. Shipping and handling charges will still apply. –> www.TheMoneyForLifeBook.com
Posted in Money, Movie Quotes, The Four Pillars, What Others Say | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
More Money For Them, Less Money for You…
April 9, 2008 | Author Dr Agon Fly
“I’m mad as hell, and I’m not going to take this anymore!” Network, 1976
The economy is in a slump. The housing market is in a mess. The money markets are in confusion. The typical American family has been led into a dungeon of debt.
Not so with the members of the US Congress. They are getting richer and now they want to raise your taxes. They say it’s a tax increase for the richest Americans.
The truth is, increasing the current tax burden on Americans will not affect the richest in a significant way. If you are earning a million or two or more a year – and there are many earning more than that - your lifestyle will not be dramatically affected by a tax increase. Yeah, you’d be mad as hell but you wouldn’t end up at the soup kitchen.
But, if you are a typical American family, you could be driven to the poor house by the irresponsible tax and spend US Congress. Here’s what you can expect if the unconcerned and politically motivated Washington elite get their way:
“Why this large tax increase? The tax code changes enacted in 2001 and 2003 are scheduled to expire at the end of 2010. If they do, statutory marginal tax rates will rise across the board; ranging from a 13% increase for the highest income households to a 50% increase in tax rates faced by lower-income households. The marriage penalty will be reimposed and the child credit cut by $500 per child. The long-term capital gains tax rate will rise by one-third (to 20% from 15%) and the top tax rate on dividends will nearly triple (to 39.6% from 15%). The estate tax will roar back from extinction at the same time, with a top rate of 55% and an exempt amount of only $600,000. Finally, the Alternative Minimum Tax will reach far deeper into the middle class, ensnaring 25 million tax filers in its web.” The Coming Tax Bomb, The Wall Street Journal, 4/8/2008 (emphasis added by the blog)
We do not have much to say about the workings of the US Government other than our vote. As powerful as that is, when you have an entrenched aristocracy like the one in DC, even the right to vote does not allow for dramatic changes.
It is incumbent upon each American to develop individual financial programs and practices to protect him or her self from the wild and unpredictable misadventures of the Behemoths – the Federal Government being one of them. There is a way.
You can handle your money and your personal economy so that you can be your own banker and exercise much greater control of the money that flows through your life. This way is clearly defined in Money for Life…in good times and bad.
SPECIAL OFFER! –> The paperback version of Money for Life…in good times and bad – How to Thrive in the 21st Century will be released on May 1st, 2008. Everyone who buys the e-book version before May 1st will also recieve an autographed copy of the paperback when it is release. No special codes are needed. Don’t be an April fool; make the purchase befor April 30th. Shipping and handling charges will still apply. –> www.TheMoneyForLifeBook.com
Posted in Money, Movie Quotes, Personal Financial Management, Taxes | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Make Money On E-Bay – Or Not…
April 6, 2008 | Author Dr Agon Fly
“The stuff that dreams are made of.” The Maltese Falcon, 1941
Jonathan and Stacey have an unconventional family. Stacey is a highly compensated executive and is rising rapidly in her profession. Jonathan is an innovative and creative artist. Jonathan stays at home with the couples two children, works on his art when he can and dabbles on eBay as a way of making a few extra dollars to feed his passion.
His eBay adventure didn’t start out as an avocation, however. Like many other easy money schemes such as multi-level-marketing programs, foriegn exchange trading, precious metals deals, or day trading on the stock exchanges, it began as a fantasy about a fortune. It wasn’t long, though, before Jonathan and Stacey both recognized that success was unlikely. When Stacey became pregnant with their second child – well, that sealed the deal on the role of eBay in their financial future.
Reality and common sense tell us that there is no such thing as “easy money.” There are ways of making money – like those mentioned above – that are particularly suited to certain individuals; that are fulfilling, fun and rewarding if you and that way of making money are compatible. If your personality, skills and psyche are not in synch with a particular profession or business opportunity, failure is assured.
You might make a lot of money, but it won’t be easy, you’ll not be happy, and eventually you’ll find a way out of that situation – drugs, infidelity, alcohol, eBay, fishing, golf or some other distraction. The same holds true for financial practices. We all have two professions; one is the career of our choosing; the second is being our own banker and managing the money that flows through our lives.
Many individuals and families ignore their second profession or see it as a nuisance. That’s because their personality, skills and psyche are out of synch with the way they deal with their money. Americans have been led to believe that their personal economies are best served by “plans” devised by Behemoths – large, publicly owned financial institutions. Those “plans” are the counterparts of the quick and easy money schemes.
It is no more valid to expect to succeed using the standardized robotic thinking that goes into such plans, than it would be to expect every American to succeed on eBay.
There is a better way for you to take control of the money that flows through your life, a much better way; one that is adaptable to every American and to every situation; one that is based on principles and practices that have been known to the money-wise for millennia and practiced by financially successful Americans from the days of the Founding Fathers until today.
You can learn about this amazingly simple and effective approach by following this blog for a year or two or you can spend $29.95 and buy a book that will tell you most of what you need to know to debunk the bull of the Behemoths and escape the Dungeon of Debt they have built for you.
The Book? Money for Life…in good times and bad – How to Thrive in the 21st Century
SPECIAL OFFER! –> The paperback version of Money for Life…in good times and bad – How to Thrive in the 21st Century will be released on May 1st, 2008. Everyone who buys the e-book version before May 1st will also receive an autographed copy of the paperback when it is release. No special codes are needed. Don’t be an April fool; make the purchase before April 30th. Shipping and handling charges will still apply. –> www.TheMoneyForLifeBook.com
________________________________
Posted in Money, Movie Quotes, What Others Say | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt management, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, millionaire, Money, money book, money books, money for life, money under management, mortgage, mortgage management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life, new york life insurance company, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, stocks, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
April Fools and Their Money…
April 1, 2008 | Author Dr Agon Fly
“After all, tomorrow is another day!” Gone With the Wind, 1939
For some folks, every day is April Fools Day.
Don and Mary went to the auto show intending to learn about hybrid cars and SUV’s. They planned to buy a vehicle when the new 2009 model year created the opportunity to buy a low mileage 2008. They hoped that would help them keep their budget for both payments and fuel under control.
They left the auto show with a gas guzzling 2008 luxury SUV that they bought on a whim because it was being sold for less than the dealer’s cost. They thought that they could figure it all out in the days ahead; after all, tomorrow…
Every day American’s are overwhelmed with “opportunities” to buy the latest and greatest products – everything from the miracle sponge being hawked in the 60 second infomercial to the house with the price reduced to $1,000,000. Every day some American’s are fooled by the cacophony of claims in consumer products advertising and the oft repeated but rarely accurate promises of financial success chanted by Wall Street’s merchants of misinformation.
Over 250 years ago- almost 100,000 tomorrows - Benjamin Franklin said “Many a man thinks he is buying pleasure, when he is really selling himself to it.” Every day creates new April fools of people who believe they can buy their way to wealth and well being.
Don’t let it happen to you. Learn how to manage the money that flows through your life. Don and Mary woke up the tomorrow after their folly, exercised their right of recision on the purchase of the SUV and breathed a sigh of relief. “After all, tomorrow is another day!” doesn’t have to be a fatalistic mantra. It can also mean that you can change your mind about money matters and change your behavior in positive ways.
SPECIAL OFFER! –> The paperback version of Money for Life…in good times and bad – How to Thrive in the 21st Century will be released on May 1st, 2008. Everyone who buys the e-book version before May 1st will also receive an autographed copy of the paperback when it is release. No special codes are needed. Don’t be an April fool; make the purchase before April 30th. Shipping and handling charges will still apply. –> www.TheMoneyForLifeBook.com
_____________________________
Posted in Debt, Money, Movie Quotes, Personal Financial Management | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Cobbled Together Financial Plans…
March 31, 2008 | Author Dr Agon Fly
“Houston, we have a problem.” Apollo 13, 1995
Marion and John are faced with dire conditions;
-
~ the stock market is in turmoil and their portfolio is losing value
-
~ the housing market is roiling like a turbulent sea during a hurricane just when they are planning to move to a smaller place
-
~ the dollar is depreciating and their income is not increasing – at least not as rapidly
-
~ fuel prices are rising – the $15 fill-up of three years ago is now $45
-
~ the cost of almost everything they buy that depends on fuel for manufacture and delivery is rising too – food, clothing, automobiles, electricity for lighting and air conditioning, and gas for heat, and more.
Those who have wealth great enough to make them celebrities can weather the financial storms that are raging just because they have so much. The pundits that pander to every fashionable financial fad can talk to no end about how their latest strategy will solve your problem, and perhaps that’s what some folks need. Those who follow the practices of Money for Life…in good times and bad are also secure during financial upheavals such as these.
But we Americans have a problem that is systemic. Our financial Apollo 13 has been hit by some economic debris that was engineered by Wall Street’s merchants of misinformation and their financial snake oil sales reps who chant the shibboleths they rely on to keep America dazed and confused. We can, of course, keep on keepin’ on, cobble together a solution to today’s problem, await the next disaster and continue to rely on a personal economy that is engineered by others for others.
The Apollo 13 crew and the NASA engineers had no choice and performed astonishingly well when the Apollo space vehicle was damaged. They also dealt with the issues surrounding the problem to assure it didn’t happen again. Wall Street won’t do that for you. Individuals do not have a NASA to look into the future on their behalf. While NASA is committed to the safety and success of its astronauts, Wall Street is committed to its own success and no other. No one on Wall Street is going to devise a solution for you.
At the cost of being boringly repetitive, if you manage just four aspects of your finances properly, you will be able to handle almost any money challenge the you face. The foundation of every successful personal economy is money that you control – money that is in your “banks” not Wall Street’s. That means the money cannot be in an investment that Wall Street wants you to buy; and remember, when you buy anything – they call it investing - someone else gets some of the money you spend. They are not paid in kind.
With your “banks” as a foundation, you have to pay attention to only four goals – I call them the Four Pillars of your personal economy:
-
Freedom from debt-to-others
-
Income you don’t have to work for and you can’t outlive
-
Ready money to deal with the surprisingly unsurprising surprises life deals out every day
-
A legacy of your wisdom and wealth to pay forward to those you care about
Wouldn’t you feel better if those four goals were in reach? They are and you can learn how to achieve them with the guidance found in Money for Life –> www.TheMoneyForLifeBook.com
________________________
Posted in Money, Movie Quotes, Personal Financial Management, The Four Pillars | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Retirement Money-Shrinking Investments…
March 29, 2008 | Author Dr Agon Fly
“Life is a banquet, and most poor suckers are starving to death.” Auntie Mame, 1958
Ed and Jean worked hard for almost fifty years, lived a frugal but fulfilling life, and raise eight good children. They didn’t sacrifice their financial life to the Debt Paradigm. They owned their home, had pensions from their work, both received social security and they kept a “rainy day” account that added up to over $100,000.
As they enter what should be the easy and relaxed life of the comfortably retired, a financial snake oil sales rep from one of the merchants of misinformation suggested that the equity in their home was not producing anything for them and that they should “harvest” that equity and invest it – and, of course, invest it with the sales rep making the pitch.
“It just makes sense.” the rep said, repeating the mantra of the Behemoths, “You can get an interest only mortgage on your home at 6% (I can get that for you and get paid to do so), invest the money (with me, and I’ll get paid again) at 8% (not guaranteed but, hey, the “market” always rises), get a tax deduction (if the dolts in Congress don’t remove it and/or raise taxes on your gain) and you’ll be doing what the really rich people do all the time.”
BUNK!
Rich people pay their debts and use the cash flow to save more money. When they invest they invest only small amounts of their savings. They do not invest from income – not even into a 401(k) or equivalent. If tax laws change or the market tanks or the real estate bubble bursts (as it just has and still is – the worst is yet to come) their money is safe, their income is safe, their homes are safe, their investments are protected with prudence and they are living the banquet.
The “poor suckers” who are “starving to death” are the ones who believed the sales rep and followed his or her advice. Here’s a rule of thumb that has proven accurate for as long as people have been investing and saving; if a sales rep shows you a plan that requires you to reorganize a successful personal economy because by doing so you would be doing what the truly wealthy do, run to the door without looking back. You are about to be scammed.
What the truly successful do – and have done for millennia – is save first. They create their own security in four specific areas:
-
they are free from debt-to-others
-
they have income they don’t have to work for and can’t outlive
-
they have money readily available to deal with life’s surprisingly unsurprising surprises
-
they have created a legacy of wisdom and wealth to pass on to those they care about
The process they use to achieve these very achievable goals is clearly described in Money for Life…in good times and bad – How to Thrive in the 21st Century. The products and information that are available today, combined with the wisdom derived from the past, flow together in proper measure in this book. You can easily apply them to your situation.
Don’t be one of the “poor suckers.” Your life can be a banquet –> www.TheMoneyForLifeBook.com
_________________________
Posted in Money, Movie Quotes, Personal Financial Management, Retirement | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Twins, Taxes, Money and “Banks”…
March 28, 2008 | Author Dr Agon Fly
“Mama always said life was like a box of chocolates. You never know what you’re gonna get.” Forrest Gump, 1994
Jeff and Beth are 40 and have a plan. They manage their money wisely, could be the poster kids for prudent mortgage management, steer clear of credit card and consumer debt, promptly pay off any debt they incur out of necessity, put about $21,000 each year into their individual and their children’s “banks” and now, suddenly, are about to become the proud parents of twins.
“You never know what you’re gonna get.” and twins are going to force some changes to the “plan.” The first change is a significant reduction of income because Beth plans to semi-retire from her well paid corporate position to care for the newborns, and Jeff’s burgeoning university teaching career is just burgeoning but not yet in full bloom. This change creates others; funding for the “banks” has to be reduced, relocation is assured, the family home has to be sold in a down market, and, on the up side, two more tax deductions.
Since the “banks” are an essential piece of Jeff’s and Beth’s plan for the future, that’s the piece of chocolate we’ll address in this post. Jeff’s whole life policy is just entering its third year. Almost all of the premium that is paid into the policy this year is credited to the cash value account. This allows Jeff and Beth to pay the annual premium of $13,200 using a loan from Beth’s 401(k).
Once the premium has been paid using the 401(k) loan and credited to the cash value account in the policy, Jeff and Beth can immediately borrow it back from the policy and pay off the 401(k) loan. This leaves them with a debt to themselves that they can repay on their own schedule and with the money they have available.
In fact, they could borrow the premium from the policy every year for the next ten years and not make any payments out of their income and the policy would remain in force and retain some cash value. Jeff and Beth could, of course, pay the interest to themselves and assure that the policy would remain in force for decades and grow in value.
That won’t happen. Jeff and Beth will bite into another piece of chocolate and discover another surprisingly unsurprising surprise that will change their lives and their plans; they could win the lotto or lose an investment. The constant financial fact that allows them to go forward with confidence is the power and flexibility inherent in their personal economy because of their “banking” system.
“You never know what you’re gonna get.” but you can make sure you can handle it. Discover how –> www.TheMoneyForLifeBook.com
______________________________
Posted in Money, Movie Quotes, Taxes, Whole Life Insurance, You BE the "Bank" | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
The Future of Money is the Past…
March 26, 2008 | Author Dr Agon Fly
“Elementary, my dear Watson.” The Adventures of Sherlock Holmes, 1939
Peter Bernstein is one of the elder statesmen in the world of economic thought. At age 87, his expectations and thoughts about the future have been accurate for decades. It is rewarding to find someone of his stature and experience indirectly endorsing the strategies and practices that are presented in Money for Life…in good times and bad – How to Thrive in the 21st Century. Here’s a brief excerpt form his recent letter to John Mauldin, another analytic economist that hits the nail on the head more often than not. I encourage you to read all of this letter and consider how you are going to manage your money in the future based on the thinking of these informed and insightful comments.
The Shape Of The Future
By Peter L. Bernstein
“The root of today’s problems in the financial markets and in the economy as a whole is the household sector. The point needs no elaboration, but its significance cannot be minimized. As we have argued on more than one occasion, the shrinkage in the personal savings rate is not the result of consumer profligacy, as other commentators persist in describing it. Rather, the savings rate has been suppressed by a slowdown in the growth of household incomes. The shortfall between income and outlay has been met by borrowing, and in particular by borrowing against the family real estate. Now the opportunity to borrow has shrunk dramatically, an outcome that will profoundly change the household’s spending power and spending patterns. But the impact is not just on the household. A slowdown in the growth of consumer spending has ominous implications for the entire global economy – and, along the way, the U. S. federal deficit, soon to be overburdened by spiraling benefit obligations. This predicament is not a short-run matter, unless home prices abruptly reverse themselves and head back into the stratosphere – which is hardly likely.”
Read – and re-read – the entire letter here –> http://www.investorsinsight.com/otb_va_print.aspx?EditionID=670
______________________________________
www.TheMoneyForLifeBook.com addresses this issue at its core. It shows you how to thrive while others just survive or worse, descend into the dungeon of debt that never releases its prisoners without first inflicting great pain and leaving deep scars.
__________________________________________
Posted in Debt, Money, Movie Quotes, Personal Financial Management, What Others Say | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Money and Conventional Wisdom…
March 24, 2008 | Author Dr Agon Fly
“I’ll have what she’s having.” When Harry Met Sally, 1989
Bill and Kate are both successful executives. They are actively involved in the social life of their community, their children’s school, their church and several professional organizations. They each earn a healthy six figure income but still don’t have a substantial amount of money set aside to deal with the surprisingly unsurprising surprises of life, to pay for college for the children, to pay themselves when they retire or to leave any kind of legacy beyond debt.
Bill and Kate do, however, have what everyone else in their social circle has; a house that is far larger than they and their two children need and that requires a housekeeper to keep the many rooms they never use clean and a gardener to keep the grounds that they seldom walk manicured; two SUV’s and a luxury sedan – all leased to assure that the family will always have a new vehicle; private schools for the children, tutors to make sure they can keep up, and a nanny to watch over the tutors due to the parents busy schedule; membership in a country club that they are rarely able to use; annual vacations that cost more than most people earn; and on, and on, and on…
Bill and Kate have an investment program too. Like their possessions, however, it is cobbled together based on casual conversations with their co-workers, friends and family, the unabashedly self interested advice of their broker and their own insights based on the casual and occasional reading of the Wall Street Journal or spending an hour watching a TV shill touting his or her flavor-of-the-day investment strategy. Their ”I’ll have what she’s having.” portfolio is not performing well – as you might guess.
Many Americans in all walks of life and at all income levels make the mistake of following the advice of people they know; people who themselves know nothing more than they do - the blind leading the blind. This is what I call following conventional wisdom – doing what others are doing and repeating what others have said as if it were the gospel just because that’s what they are doing and saying.
There are strategies and tactics that work. If you embrace them, you will create a bright financial future for yourself that promises you an income you don’t have to work for and you cannot outlive, freedom from debt-to-others, ready money to deal with life’s surprises and a legacy of both wisdom and wealth to pass on to those you care about.
Bill and Kate gave up their foolishness, and within two years they were able to achieve all four of these goals.
You can too! –> www.TheMoneyForLifeBook.com
__________________________________
Posted in Money, Movie Quotes | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | 1 Comment »
Financial Advisor or Money Monger…
March 23, 2008 | Author Dr Agon Fly
“You can’t handle the truth!” A Few Good Men, 1992
Peter has spent the past 20 years as an insurance agent, annuity salesman, investment advisor, college planner, real estate investor, mortgage planner, advisor to seniors, and all around financial planner. Every hot new product or marketing strategy that comes down the road catches his interest and attention. He learns about it, jumps in with both feet, makes a lot of sales and money, then moves on to the next thing – whatever that might be.
Peter doesn’t have 20 years experience. He has 18 months experience 6 or 7 times. He’s not been in one business for 20 years, he’s been a serial salesman dabbling in half a dozen businesses for brief periods.
Peter, like thousands of other financial “professionals” can’t handle the truth. The money business requires dedication, persistence and consistency. It demands that the advice and guidance that an advisor gives to his or her clients is well informed and well founded. The business of the financial guide is to know a great deal more than the people being guided; not just more about one product or program, but more about everything that has to do with money and its place in the personal economies of clients.
Money for Life…in good times and bad – How to Thrive in the 21st Century contains money wisdom gleaned from the practices, writings, teachings and mentoring of truly professional financial advisors and guides dating from Benjamin Franklin and the earliest days of America through today’s wealth of information and experience in print, on the radio, on television and on the internet.
The strength of this wisdom is its consistency. There are always new financial strategies and tactics aimed at generating income for others. The merchants of misinformation and their minions, the financial snake oil sales reps, use their energy to create programs designed to put your money in their pockets under the guise of a “plan.”
Some of these plans have merit, but, like Peter’s forays into various markets, they are often shallow and short lived. However, the remnants of these plans often find their way into the mainstream. Advisors who study them as one of many tools and take a holistic approach to this process might incorporate them into the unique personal economies of the few folks that can truly benefit from them.
Discover the secrets that the money mongers never do and find an advisor that understands and follows the practices that the wise have followed for centuries and millennia –> www.TheMoneyForLifeBook.com
________________________________
Posted in Money, Movie Quotes, Personal Financial Management | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Mortgage Myths and Money…
March 23, 2008 | Author Dr Agon Fly
“There’s no place like home.” The Wizard of Oz, 1939
Gino and Bernice managed their money carefully, saved a down payment and bought their home after a few years of marriage and the birth of their son. Gino’s income as a unionized cement worker depended on the weather and the good will of his employers but, because he was skilled and reliable, he was able to work regularly.
Within fifteen years Gino and Bernice paid off the mortgage – early. The money that they spent on mortgage payments was then redirected into their “banks”. When, many years later at age 63 , Bernice was diagnosed with pancreatic cancer, the family was able to cover her out of pocket medical costs and provide Gino with support services as Bernice languished for 18 months and died peacefully in her home on her 65th birthday.
A few years after Bernice died, Gino’s 65+ years of heavy smoking and drinking wore out his heart and lungs. While he was on oxygen for emphyzema he had a heart attack and survived open heart surgery. He lived for several more years as a semi-invalid and his son and daughter-in-law provided him with support around the house and in the yard.
When Gino finally died, his son inherited the house free and clear, plus thousands of dollars from Gino’s “banks” and savings accounts. The son, Pat, still rents the house. Within a few years Pat was able to use the inheritance and rental money to help pay off his own mortgage well before its final payment due date. The rent from the family home and the monthly mortgage payment, which he no longer has to pay, go into “banks” for himself, his wife, and his three children.
When Pat is 67 and ready to retire, he will have two properties, both paid for; one producing income and the other costing only taxes, insurance and maintenance. His three children will have college educations with no college loans. He will have a stable retirement income from his and his wife’s retirement plans from work, social security, income from the rental, and substantial income from his savings plans, with much of it tax free from his “banks”. Their retirement income, by the way, will exceed their working career income.
There is no such thing as “good debt” for an individual or family. There are occasions and situations where debt is useful or necessary. That doesn’t make the debt good. A mortgage is a debt; sometimes useful and often necessary, but still a debt.
Those who would have you believe that mortgaging your home to the hilt so you can “invest” the equity with them are selling a dream that that will put money in their pockets and could easily become a nightmare for you and your family. They want to convince you that this strategy is followed by the “wealthy” and if you just do the tricks they teach, you too will be wealthy.
BUNK!
Measure such “plans” against this template before you buy into them:
-
Does their plan have guarantees?
-
Are the guarantees strong enough to support the end result that is being illustrated?
-
Could you get results that were substantially better than the guarantees without buying into the plan being sold?
-
Are the non-guaranteed elements of the plan based on both back-testing and actual performance of the companies and products you are being asked to purchase?
-
If non-guaranteed results are based only on back-testing because the products and/or companies have only been around for a few years, does the back-testing cover at least 100 years to include the depressions of 1907 and 1929 and the doldrums of the late 1940′s and early 1950′s or does it go back only far enough to incorporate the longest and strongest bull market in the history of markets?
Your financial life can be like that of Gino, Bernice and Pat. They did not have to take great risks or buy into esoteric schemes to succeed with the money that passed through their lives. They employed simple, treid, tested and proven strategies that allowed them to live comfortabley without relying on debt. You can too. –> www.TheMoneyForLifeBook.com
Posted in Debt, Money, Movie Quotes, Retirement | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Take Control of the Money That Flows Through Your Life…
March 22, 2008 | Author Dr Agon Fly
“They call me Mister Tibbs.” In the Heat of the Night, 1967
Jack and Theresa relied on the same financial advisor for over ten years. When Jack got a new job in a new city on the other side of the country that relationship became untenable so the couple went looking for a new advisor. After several interviews Jack and Teresa concluded that the advisors they met in their new city did not recognize or understand what their friend and advisor “back home” had taught them. In fact, every one of the advisors they interviewed told them that building their financial foundation using cash value whole life insurance was not just wrong but went against everything the advisor had been taught.
One advisor suggested that Jack and Theresa should replace their cash value policies with term insurance and invest the money they had accumulated in the stocks he recommended; ENRON, Qwest and MCI.
Another advisor wanted Jack and Theresa to exchange their whole life insurance policies for variable universal life insurance policies because she could illustrate greater future value with that type of insurance plan. She did not, of course, make it entirely clear that these policies had no guarantees and that they could lose all of their money with this approach.
A third advisor encouraged Jack and Theresa to refinance their home at 95% and “harvest” the equity from their home and the cash from their whole life insurance policies and put all of that money into a new kind of product called equity indexed life insurance. The premise was that the new product would earn more than the interest charged in the mortgage and the lost guarantees and dividends from their whole life contract. Again, there was no discussion of the fact that taking such action put their real property at greater risk and did not replace the guarantees that were present in their whole life policies.
When Police Chief Gillespie challenged Virgil Tibbs’ self image and deeply held beliefs, the detective defended himself and his beliefs with a simple emphatic statement. Every day we face the same kind of challenge to our common sense about how we handle our money. An onslaught of advertising and misinformation tells us that our conservative financial values are foolish or simplistic or contrary to the conventional wisdom – which is no wisdom at all.
There are many reasonable and sensible ways to handle your money. Universal life insurance, indexed life insurance, investments and home equity can be important pieces of the puzzle that is unique to your situation.
Any approach that suggests, however, that you can build wealth without establishing a foundation of money that you control, is misleading at best and illegal at worst. Suggesting that you can behave the same as people who have already accumulated great wealth, denies the reality that those who have great wealth behaved differently while accumulating their wealth than they do after they have it.
Every reasonable financial “plan” should aim at
-
eliminating debt-to-others
-
guaranteeing you a secure income
-
making sure you have ready money to deal with the ordinary and the extraordinary events that make up your life, and
-
creating a legacy of your wisdom and wealth.
Once these goals have been met you can consider the schemes of the merchants of misinformation and the financial snake oil sales reps who want your money in their pockets.
by Jeffrey Reeves MA, www.youBEthebank.com
_______________________________
Money Talkers Talking Down to You…
March 21, 2008 | Author Dr Agon Fly
“What we’ve got here is a failure to communicate.” Cool Hand Luke, 1967
Reba is an attorney; a very brilliant, busy and successful attorney. Her practice keeps her busy 60 to 80 hours a week and her long term commitment to her favorite charity devours additional hours each month. Reba, single and childless herself, also finds time to volunteer as a tutor at the high school that is just around the corner from her home.
Busy executives, sales reps, attorneys, accountants, consultants and others in professional practices, including Reba, earn a great deal of money. They rely on the adviced and guidance of financial and investment professionals (and there is a great deal of difference between these two vocations) if for no other reason than the lack of time available to study how best to handle the money that flows into and through their lives. But, Reba, like many others in her position find the advice they are receiving is lacking in both effectiveness and wisdom.
Reba’s advisor presented himself as an investment professional with financial planning credentials. Credentials did not, however, convert into performance. The advisor’s suggestions were perfunctory and superficial; they had no apparent research behind them, other than the recommendation of the Behemoth for which he worked; they were presented hastily and Reba’s questions and concerns were treated with impatience – almost disdain. In addition, the results that the advisor’s recommendations produced were no better than Reba would have expected from a good savings program. Add poor results to the impersonal and arrogant character of the advisor’s behavior, and it is understandable that Reba wants a change.
The “failure to communicate” lies with the advisor. Like the “boss” in Cool Hand Luke, the advisor’s idea of communicating is that his clients should listen to him and do as he says; no questions, comments or concerns are permitted to enter the conversation unless they support his position. “Yes, Boss.” is the only legitimate response. This problem arises frequently. Most advisors do not take an holistic approach to their profession. They rely on templates and formulas that the Behemoths they represent force feed them.
The only way you can guarantee yourself competent advice is to have your own financial house in order before engaging an advisor. That means you need to adopt tested and proven practices that are objective in form and subject to your wants and needs. Then, you can rely on these practices to manage and measure the money that flows through your life .
Money for Life provides a model based on building a solid money foundation – a “bank” – that supports the Four Pillars that are essential to any successful financial strategy. You owe it to yourself to consider this approach. Those who have done so have more money and greater peace of mind than those who put every penny at risk in an investment program designed by a Behemoth for the benefit of the Behemoth.
www.TheMoneyForLifeBook.com describes the problems we all face as we navigate the 21st century. Money for Life articulates a solution that allows you to have everything you need and anything you want without incurring debt or risking your money in schemes disguised as “your plan” but devised by and for the benefit of others. Your financial future will benefit immensely from the few dollars you invest to buy Money for Life and the few hours you’ll spend reading it.
__________________________________
Posted in Money, Movie Quotes, Personal Financial Management, The Four Pillars, You BE the "Bank" | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Roadmap to Financial Failure or Path to Success…Epilogue
March 19, 2008 | Author Dr Agon Fly
“Toto, I’ve got a feeling we’re not in Kansas anymore.” - The Wizard of Oz”, 1939
George and “Fitzie” were financial failures at age 53. They, like the millions of other Americans who struggle unsuccessfully to gain control of their financial lives, followed the practices of Wizards like Suz Orman and Dave Ramsey – pundits, who make their money by regurgitating the BS of the Behemoths, by mouthing the mantras of the merchants of misinformation and chanting the siren songs of their snake oil sales reps. How’s America doing following this advice?
What if George and “Fitzie” had followed a different path? Consider this:
George and “Fitzie” were high school sweethearts and married the summer after their 1973 graduation. They both were working full time; George at the steel service center where he works today and “Fitzie” at a local mall in a major department store. They both earned about $10 an hour, had benefits and lived frugally – as they had seen their parents live. They saved 10% of their income for a down payment on a home and had plenty of money left for their needs and wants.
Had George and “Fitzie” followed the Money for Life practices and saved that 10% of their original base income of about $40,000 per year – $344.00 per month – in a cash value whole life insurance policy, and kept their savings rate at $344 per month even as their incomes increased;
-
~ they could have used the policy as a “bank” and borrowed from the cash values to pay for the things they needed and wanted
-
~ repaid themselves, instead of giving their money away to credit cards, banks and big box stores.
Had they done that;
-
~ at age 53 their home would have been paid for
-
~ at age 53 they would be debt free
-
~ at age 53 they would have $436,000 in cash value in their policies
-
~ at age 53 they would have over $1,200,000 of death benefit
-
~ at age 67 they would have an after tax retirement income of over $50,000 each year
-
~ at age 67 their retirement income would grow year after year
-
~ at age 67 their retirement death benefit – their legacy – would be over $2,500,000 and growing.
Compare that to their actual ”in debt up to their eyeballs” situation described in yesterday’s blog that is the fate of so many Americans. The fantasy land of financial advice that is served up by pundits during infomercials and in books made popular by celebrity instead of substance have brought America to the dangerous precipice where it stands today.
Don’t blame the media that supports the merchants of misinformation and their minions. These are the folks who buy the commercial air time and pay the media’s bills. Don’t blame the publishers who make millions selling books with the faces of the famous financial fops on the cover. It’s how they make a buck. The problem lies in the failure of those of us who know that there is a better way. It’s not your fault that we haven’t been effective telling the truth we know, and debunking the lies we recognize.
Money for Life…in good times and bad shows you How to Thrive in the 21st Century using practices that have been tried, tested and proven for over 150 years. If you aren’t making the kind of financial progress you had expected or if you find yourself giving too much of your money away to banks, credit card companies, auto finance companies, the big box stores, etc. you owe it to yourself to find a better way. Spend the $29.95 to buy Money for Life and your financial life – present and future – will improve. –> www.TheMoneyForLifeBook.com
________________________________________
Footnote: The financial projections used above are based partly on dividends being paid by the insurance company issuing the policy. In this case, the insurance company has paid dividends every year since its inception over 150 years ago – even during the Great Depression .
Posted in Money, Movie Quotes | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | 1 Comment »
Roadmap to Financial Failure or Path to Success…
March 18, 2008 | Author Dr Agon Fly
“You don’t understand! I coulda had class. I coulda been a contender. I could’ve been somebody, instead of a bum, which is what I am.” On the Waterfront, 1954
George is 53 years old. His home is mortgaged to the hilt with first and second mortgages. The homes in his neighborhood are losing value because of the high number of foreclosures. Two of the family’s three cars are financed. The new kitchen appliances came from a big box store “Same as cash. No payments or interest for six months.” His True Net Worth is in the tank because he is upside down on everything.
George has an active 401(k) account at work into which he contributes 3% of his $43,000 salary in order to get the employer match. The 401(k) is worth about $47,000 – down from a high of $62,000. His wife, “Fitzie,” has just over $13,000 in two inactive IRA accounts – down from $16,500. She is currently unemployed so she can stay home with the four children who attend attend public school. They have $7,500 in savings. The children are looking forward to college but they will have to rely on loans, grants and scholarships to pay their way.
Add up the value of this family’s 35 years of work and you have an all too common snapshot of an American family. George and “Fitzie” followed the raodmap drawn by the Behemoths and ended up in the swamp of financial failure. They own very little. Everything they have is covered in debt. What they do own is of little value; a used car, furniture, retirement accounts that are inaccessible without significant loss to penalties and taxes, a modicum of savings that would disappear in a New York minute if George lost his job or “Fitzie” was diagnosed with cancer or one of the children got into trouble with drugs, alcohol or worse.
It’s not too late, however, for George and “Fitzie” to escape the Financial Swamp and teach their children how to avoid it too. Money for Life describes a path that leads to freedom from debt-to-others, passive income for retirement, ready money for emergencies and the opportunity to pass on a legacy of wisdom and wealth to those you care about – regardless of where you start from or how old you are. It is not a get rich quick scheme or a multi-level marketing program. It is 150 year old a tried, tested and proven approach to handling money.
Start by learning your True Net Worth with the FREE report Why Budgets Don’t Work. You can get the report at www.TheMoneyforLifeBook.com
____________________________________________
Posted in Debt, Money, Movie Quotes, Personal Financial Management | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
A Money Offer You Can’t Refuse…
March 17, 2008 | Author Dr Agon Fly
“I’m going to make him an offer he can’t refuse.” The Godfather, 1972
Edward held an MBA in finance and was a very successful analyst for a major utility. His wife, Sally, held an MA in education and planned to return to her teaching career when all three of the children reached school age. Ed’s success in business and the family’s frugal lifestyle allowed Edward and Sally to invest liberally with their discretionary income. Their advisor suggested a very aggressive growth path for them in 2000 on the premise that the market conditions would allow them to profit from its volatility. (Gee, that almost sounds feasible – although I’m not at all sure that it means anything.)
Since the advisor’s advice in the ’90s had served them well they bought into his aggressive program. (Of course all but the unluckiest advisors looked good in the ’90s.) By March of 2002 Ed and Sally’s portfolio had shrunk from just over $200,000 to $79,000 due to the “market.” Worse, Ed had been laid off and the family was without a steady income. Thankfully, Sally was able to find a substitute teaching job to tide them over until Ed finally found a position comparable to the one he’d lost. They still lost over 60% of the value they had created in their portfolio.
The merchants of misinformation and their financial snake oil sales reps don’t use the same tactics as Don Corleone. They do, however, use illustrations and “hypothetical” to project a picture of the future on the screen of your consciousness. The picture they project is bright and very positive. It is presented in a professional format. It gives you confidence that the advisor who is weaving the tale of your future security actually knows what’s going to happen – and when. They are making you an offer you can’t refuse.
Reality is otherwise. Financial product sales reps do not have the capability – as Don Corleone did - to back up the offers they make. In fact, once you’ve accepted the offer they present to you, they are off the hook relative to future performance. Their offers are more akin to some of the propaganda that has slimed out of Hollywood disguised as entertainment or documentaries in recent years – looks good but is slanted to support a position and omits significant facts and possibilities.
Most investment economists and serious market analysts (folks who do not sell anything but study the “hypothetical” in great detail) suggest that the projection of future growth that exceeds 4% for any investment is misleading and overly aggressive. Even 1% cannot be guaranteed in the exchange markets, in real estate, in equity indexed products or in any other risk based investment. The problem is that the “markets” never progress in a straight line – nor does your life – just ask Edward and Sally.
You can control the money that flows through your life in a way that allows you to save and invest more securely – where you are in charge of every aspect of your personal economy. Get started with the FREE report Why Budgets Don’t Work –> www.TheMoneyForLifeBook.com
_______________________________________________
Posted in Money, Movie Quotes, Personal Financial Management | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | 1 Comment »
Money and Divorce…
March 16, 2008 | Author Dr Agon Fly
“Frankly, my dear, I don’t give a damn.” Gone With The Wind , 1939
Life is full of upheavals resulting from relationships.
When Steve’s and Beth’s marriage broke up, their two young children created a major financial concern for both parents. Beth has defacto custody and has to find new ways to balance her finances, her work schedule, the children’s school and activity schedules as well as coordinating visitation schedules with Steve. Beth and Steve both have to find ways to establish and maintain relationships with old family friends and make new ones as well.
Steve, as the non-custodial parent, encounters similar problems and, in addition, must adjust his budget to accommodate court ordered child support payments. Both Steve and Beth have to individually address their food, housing, transportation, and entertainment expenses that were formerly a family affair. The demands of out of town in-laws for visitation of the children has become a financial drain also.
A powerful tool in Steve’s and Beth’s financial arsenals is cash value whole life insurance. Their family practice attorneys asked the court to order both Steve and Beth to purchase cash value whole life policies on themselves and on their children as part of the child support package.
The advantage of this approach is that these policies protect the children if Beth or Steve dies prematurely and, more importantly, provide ready money for unpredicted family needs and the future educational and support needs of the children. Because the cash values in their whole life policies can be repeatedly borrowed and repaid, the policies become “banks” that grow consistently. They allow Steve and Beth to finance education, unplanned large purchases and emergency needs for the children much more economically than is possible with credit cards, home equity loans or other commercial loans.
There are, of course, technical issues that must be managed with policies used for this application. These require the ongoing advice and guidance of a Money for Life Guide.
Learn more and own more –> www.TheMoneyForLifeBook.com
________________________________________
Posted in Money, Movie Quotes, Whole Life Insurance | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »
Famous Movie Quotes and Money…
March 16, 2008 | Author Dr Agon Fly
“Show me the money!” Jerry McGuire, 1996
Much of the advertising and promotion of financial products and services by the Behemoths focuses on non-money issues: dreams, plans, transaction costs, tracking tools, advisor relationships – everything except money. The reality of your financial life, however, is affected by money, first and foremost. Stocks, bonds, mutual funds, real estate, and any other investments are not money; you can’t spend them and you can lose some or all of the money you tie up in them.
You might wonder why the Behemoths spend millions of dollars on advertising what they want and don’t focus their advertising and promotions on your money. Well, it’s because they want you to give your money to them. They want you to focus on what’s in their best interest not on what is in your best interest. That’s free enterprise and there is nothing wrong with it. Problems arise only when we, as individuals and families, fail to recognize that all those millions are spent to lift your money from your wallet and deposit it into the coffers of the Behemoths.
What if there was a way to beat that system? What if you could gain control of all of the money that flows through your life? There is. Over the next several posts I will be using famous movie quotes to highlight situations that Americans of all economic and social backgrounds experience and to give specific guidance to those who find themselves in those situations.
I’m not suggesting that you can’t succeed financially by investing. Many already have. What you’ll learn from these posts is that there is a way to invest that manages the risk inherent in giving your money over to the Behemoths. The aim of each of the scenarios we present is to demonstrate how you can keep control of more of your money and build a foundation and framework for your personal economy that will last…in good times and bad.
If your demand is “Show me the money!”, then www.TheMoneyForLifeBook.com satisfies your quest.
______________________________________________
Posted in Money, Movie Quotes, Personal Financial Management, The Four Pillars | Tags: 401(k) plans, 801(k) plans, agon fly, annuities, annuity, bank, banker, banking, banks, be the bank, become your own bank, becoming your own banker, bonds, book on money, books on money, books on personal finance, circle of wealth, debt, debt elimination, debt reduction, debt to others, disability income insurance, Dr Agon Fly, Dr_Agon_Fly, financial, financial advice, financial advisor, financial planner, financial planning, health insurance, housing market. stocks, how to thrive, infinite banking, insurance dividends, investing, jeff reeves, jeffrey reeves, leap system, life insurance, long term care insurance, mass mutual, mass mutual insurance, massachusetts mutual life insurance, Money, money book, money books, money for life, money under management, mutual funds, mutual insurance, mutual insurance company, nash, nelson nash, new york life insurance company, new your life, northwestern mutual life, passive income, personal financial books, pirates of manhattan, r nelson nash, Retirement, retirement income, retirement planning, saving, stock dividends, stock market, Taxes, term life insurance, The Four Pillars, the guardian life insurance company, thrive, universal life insurance, variable life insurance, Whole Life Insurance, Who’s helping you, why buy whole life insurance, why whole life insurance | No Comments »