Posts Tagged ‘conventional wisdom’
An Open Letter…
At www.youBEthebank.com we are committed to re-educate America about the power, flexibility, and versatility of dividend paying whole life insurance and the extraordinary benefit of participating with like-minded people in ownership of mutual insurance companies. To this end, we have sacrificed the past several years of our life to write and publish books, blogs, and articles that aim to enlighten and inform.
Whole Life Insurance from Mutual Life Companies…
Gaining the insight and information about whole life insurance and mutual life insurance companies is difficult for insurance and investment advisors. Many, if not most of them have been misinformed and even lied to about this product and its application.
It is even more difficult for everyday Americans to uncover these secrets when their source of information is produced by detractors in the ill-informed popular press, from talking heads like Suzie Orman and Dave Ramsey, and from often inaccurate internet sites.
Uncovering Green Shoots of Ideas and Ideals Shrouded by Behemoths…
I wish the ideas and ideals we write and talk about–ideas that are the foundation of the wealth and growth of the personal economies of Americans over the past two plus centuries–were not burdened with decades of deceit and disinformation from Behemoth detractors and competitors whose only goal is to filch control of your money or sell you their next book. Unfortunately, they are.
Many seem to be struggling to escape the conventional wisdom that denies the value and benefit of whole life insurance and mutuality. We understand that. We can continue our dialogue. Unfortunately, there isn’t enough time left to me in life to answer every individual consumer question and mentor every advisor that seeks my guidance.
The Source Book of EUREKONOMICS™…
So, here’s my suggestion. If you wish to pursue a relationship and take advantage of my 40+ years experience helping Americans achieve true financial independence, then I ask you to read and study Money for Life! before posing your questions about EUREKONOMICS™. I am confident that Money for Life! addresses the vast majority of your concerns.
In other words, I am willing to address your concerns if you are willing to study the EUREKONOMICS™ Model for Creating and Managing Your Personal Economy with the same diligence that you are employing to unearth reasons to deny the validity of what we teach.
By Jeffrey Reeves, MA, EUREKONOMIST www.EUREKONOMICS.com
John Mauldin’s November 26, 2008 Weekly Eletter begins with the following quote:
“It will therefore be crucial that you see the world anew. That means looking from the outside in to reanalyze much that you have probably taken for granted. This will enable you to come to an understanding. If you fail to transcend conventional thinking at a time when conventional thinking is losing touch with reality, then you will be more likely to fall prey to an epidemic of disorientation that lies ahead. Disorientation breeds mistakes that could threaten your business, your investments and your way of life.”
– James Dale Davidson and Lord William Rees-Mogg, The Sovereign Individual, 1997
The Money for Life Model of wealth creation and money management challenges convetional thinking [we refer to it as conventional wisdom] at every step. As an alternative to the lemming-like behavior that conventional wisdom engenders, The Money for Life Model suggests that awareness is the first essential characteristic of intelligent financial decision-making. Watching and listening to the commercials of the financial Behemoths – including the advice from their minions – tells you only what they wish you to know.
It’s 2008. Look where their advice has gotten us…and them!
It’s time to become aware of the reality that the Behemoths [any large business, union, government bureacracy or NGO] wants only to gain control of as much of your money as possible - regadless of whether or not that serves your best interest.
By Jeffrey Reeves, YouBeTheBank.com, ltd.
Bad advice like that which appears below in the excerpt from the article 15 Insurance Policies You Don’t Need by Lisa Smith on Investopedia is painful for those who truly understand the value, power, flexibility and versatility of cash value life insurance. The article claims that life insurance on children is not desirable.
Read R. Nelson Nash’s article Jeanette’s Banking System or The Education of Emily Elizabeth and you will understand that cash value life insurance purchased on children and grandchildren can be more powerful and a lot safer than the typical 529 Plan or Coverdale IRA, which are foolish gambles at best.
8. Life Insurance for Children
Life insurance is designed to provide a safety net for your heirs/dependents. Because children don’t have heirs to worry about and, statistically speaking, most kids will grow up safe and healthy, most parents should not purchase life insurance for their kids. Instead, use the money that you would have spent on life insurance to fund an education plan or an individual retirement account (IRA). (To read more on saving money for your kids, see Investing In Your Child’s Education, Teaching Your Child To Be Financially Savvy and Don’t Forget The Kids: Save For Their Education And Retirement.)
Other items in this article make some sense. Discussions of cash value life insurance by pundits and feature article writers, however, generally lack in both accuracy and depth of understanding. Read the entire article here…
My apologies for such a long absence.
YouBeTheBank.com is launching its new web site. Although it is fully functional, there are more than a few additional capabilities that are being developed and added daily and weekly. It’s a time and energy consuming project.
The turmoil in every market: real estate bubbles bursting, the motgage mess, bank failures, GM/Chrysler/Ford facing bankruptcy, and on, and on…all are the result of a failed paradigm that convinced Americans to delegate their own wealth creation and money management to the Behemoths -
the Dolts in DC who manage to increase their own wealth by taking more of yours,
mutual fund managers who don’t know what they don’t know,
investment advisors who have only the minimal registrations and licenses to compliment the brainwshing they receive from their Behemoth bosses,
union leaders who see their RIP engraved on history and scheme to keep alive a system of relating to capital that can only be described as self-serving,
banks and credit card grantors that have manipulated the Dolts in DC to serve them instead of American citizens.
I’ll write a book about this someday but for now here’s an article from InvestorsInsight that articulates a piece of the problem.
“Buy-And-Hold” Bites The Dust – Now What?
by Gary D. Halbert
November 11, 2008
IN THIS ISSUE:
- Economic Overview
- The Conventional Wisdom Was Wrong
- The Shortcomings Of Index Investing
- Are Low Fees The Key To Investment Success?
- Risk Management Is Crucial
In the newsletter business, it’s rewarding to see market action reinforce the advice you have been giving in your publication. Ever since I started writing this E-Letter, I have warned of the perils of passive “buy-and-hold” investing in general, and “index investing” in particular. While adherents to these strategies like to trot out long-term charts and graphs supporting their case, I have always warned that passive investing can result in major losses at just the wrong time from the investor’s perspective.