Over just a few decades, the Behemoths’ clever public relations firms and their ill-informed minions managed to move almost every dollar that belongs to you and every other American into either debt or equity over which you have no control. There’s just no room for savings in this scheme of things so the Behemoths sell you term insurance to keep you from putting your money in whole life insurance and local savings accounts where you control it.
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 [...]
In May of 2008 this blog awakened its readers to an idea that is now being recognized after decades of being dismissed. Fact is, if you had followed this practice through the ’80s and ’90s you would be well ahead of those that followed conventional wisdom.
Jeffrey Kosnett only implies the power, flexibility, and versatility of whole life insurance [...]
This post is mainly a link to a powerful assessment of conventional wisdom about the future of the US and the world economy by Jim Welsh, an investment advisor/economist that has been right more often than wrong.
Jim Welsh of Welsh Money Management has been publishing his monthly investment letter, “The Financial Commentator”, since 1985. His analysis focuses [...]
In 1974 the US Congress passed ERISA and began convincing Americans that saving money was a bad idea. The law they passed convinced us that investing [aka gambling] in an IRA or 401(k) was better than putting our money into guaranteed return savings vehicles. Americans listened. Wall Street and the IRS rejoiced.
In 1977 a high school coach [...]