The financial principles that have made America’s economy and people the envy of the world are clear and simple.
In the Declaration of Independence:
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are life, liberty and the pursuit [...]
There are few economists and economic writers that can clearly articulate complex economic concepts as well as L. Carlos Lara and the other members of the United Services & Trust Corporation. Here is an historical and factual discussion of…
Sound Money
In-Depth by: L. Carlos Lara | Friday, February 5, 2010
My thoughts on the subject of sound [...]
Over the past decade or so, the fallacy that home equity should be “harvested” by means of mortgage refinancing or home equity loans and converted into equity in some other investment has been foisted upon Americans as a legitimate financial strategy.
The most common presentation of these schemes suggests that home equity should be redirected into what some advisors call ”investment grade life insurance.” Other schemes [...]
Joseph J. Ellis in His Excellency George Washington [Vintage books, NY] writes that the Father of our Country, unlike Thomas Jefferson and others from the elite class of the day, demonstrated “…concern for his own economic interest…” and adds paranthetically that “Perhaps this is the underlying reason Jefferson and so many other[s]…would die in debt, and Washington would die a very [...]
Planning vs. Management
The College for Financial Planning and the Certified Financial Planner Board of Standards, Inc. will likely object to the statement that their business is oxymoronic. They might be justified. Let me elaborate.
The Oxford Dictionary defines an oxymoron as “a figure of speech in which apparently contradictory terms appear in conjunction.” Claiming that financial [...]
I recently received this question from Christine:
Hi Jeffrey,
I hear those whole life policys have huge fees, what are all the fees?
Here’s my initial answer…
Great question, Christine!
Unfortunately your question implies a common misunderstanding so lets clarify that issue first. Clarifying things may be enough, but if it isn’t feel free to question or comment further.
Whole life insurance policies have [...]
Someone recently asked about FDIC insurance for the money in the “banks” suggested by the EUREKONOMICS’ Money for Life Modelfor creating wealth and managing personal finances, which recommends that each American should act as his/her own banker. (Some advisors refer to these as “family banks,” “infinite banks,” or “personal banks.” The use of the term “banks,” “banking,” and [...]
During the last half of the 20th century and the first decade of the new century there have been hundreds - perhaps thousands - of the latest and greatest diet books, diet infomercials, diet clubs, diets that are delivered to your door, diets you can pick up at the store, even urban legends about cabbage [...]
Preamble…
There are hundreds - perhaps thousands - of legitimate uses for participating (par) whole life insurance.
Thoughtful and creative insurance and financial guides recognize par whole life as the most powerful, flexible, and versatile financial tool in the US economy. These enlightened guides use par whole life for applications as simple as fulfilling basic family needs, [...]
Mystery…No. 5 Volume Is More Important Than Rate
Every major product in the financial services business - every type of mutual fund, annuity, variable insurance product, bank CD, treasury bill, note and bond - proudly trumpets its rates. If 2% is good then 5% is better. If 6% compounded is wonderful then 8% compounded is marvelous.
The [...]
