Tuesday, November 5, 2013

Wall Street is a Casino and They Are Gambling with Your Money

Wall Street is a Casino and they are Gambling with Your Money 

Asset managers and the big banks on Wall Street speculate and make bets with other people's money. Not only do banks run their business like casinos, they actually own, operate and finance gambling establishments. 



Derivatives are unregulated bets and expose investors to unforeseen risk. Credit default swaps are derivatives that were in part blamed for our current economic recession, yet the gambling goes on. 

401(k) participants, mutual fund holders and retail investors are unknowing participants in the derivatives markets as asset managers speculate with currency derivatives, interest rate derivatives, credit derivatives and equity derivatives. The total derivatives market is estimated to be a QUADRILLION dollars.

Hypocritically, all of the major banks hold their Tier 1 capital, their most important asset, in permanent life insurance called BOLI. Even the FDIC recommends that banks hold their assets there. That's right, while the big banks and asset managers encourage you to gamble, they play it safe by owning cash-value life insurance. 



Why gamble with your money? Turn the tables on the Wall Street Fat Cats and take control of your finances. You can own a safe asset that provides you with protection, savings, growth and banking features.


Are you sick and tired of seeing the Wall Street mobsters gamble with your money? Are you ready to tell the big banks and Wall Street good bye? Discover how you can free yourself from the corrupt system where the odds are clearly stacked against you.

Request a meeting and learn how you can fire your banker. You can bypass the Wall Street Casinos and take back control of your financial future when you learn how to Become Your Own Banker. Follow this link: http://legacyinsuranceagency.com/infinitebanking/ibc-meeting 

Until next time,
Barry Page

Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com

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Barry Page, RFC is recognized as a leading expert on finance, life insurance and private banking. He is a financial consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the United States.


Contact me today by following this link: http://legacyinsuranceagency.com/contact 

Wednesday, July 31, 2013

The Problems with Your 401K

Over the years I've written numerous articles and made posts regarding qualified retirement plans and the problems associated with 401(k)'s. These articles are based on research and real life experiences. Primarily these problems reside in the fact that the IRS and Congress are constantly changing the rules regarding qualified plans, so it makes it difficult to plan.

However, when you investigate how the 401(k) operates, you'll find there are many other problems. While the list could be long, I've narrowed it down to 3 major problems.

The Problems with Your 401(k)

1. Control - not only do you not have control over the performance of the financial vehicle your 401(k) is invested in, you have no control of the rules regarding the plan itself. The IRS makes the rules and they change the rules... regularly. Along with Congress, the IRS makes changes to the tax code and the rules associated with contributions and distributions on a regular basis. Since its' inception in 1978 there have been changes practically every year regarding contributions, tax thresholds and plan administration. Here are the basic rules from the IRS website for 2013. http://www.irs.gov/Retirement-Plans/Plan-Sponsor/401(k)-Resource-Guide---Plan-Sponsors---General-Distribution-Rules

2. Fees - the fees associated with the 401(k) have been hidden from the public for years. These fees come in many forms, some are hidden and some are disclosed. There are management fees, portfolio management fees, administrative fees, trade commissions, sales charges, record keeping and many more. In the past, many of these did not even have to be disclosed, so you may never have known that you were being charged. In recent years congress has passed legislation that was supposed to add transparency and force the financial institutions to disclose such fees. But, as they usually do, the financial institutions have found ways around the rules. For instance, Target Dated Funds which have become the "default" investment for most plans, can charge as much as 25% in fees! Target date funds are complex, risky, hard to understand and have no guarantees. In fact, we could devote this entire post to TDF's, but I'll save that for another time. For additional reading, a recent article in Forbes highlighted some of the problems associated with target dated funds: http://www.forbes.com/sites/baldwin/2013/06/05/the-trouble-with-target-funds 

3. Risk - while there are many risks involved with a 401(k), perhaps the most relevant is the risk of losing your investment. Since the majority of 401(k)'s are invested in mutual funds, there is the risk of loss. Most people would be upset if they lost a $100 from their wallet, yet they can have tens of thousands vanish via the stock markets and barely notice. More often than not when the statement comes in, it is neatly filed away somewhere without much attention. And, because of the regular contribution to the plan, most people will think their plan has increased. But, on closer examination there may have been losses. These losses can be devastating to anyone trying to plan for retirement, and they can come at any time. For example, in 2008, 2009 many investors lost up to 50% of their balances in their 401(k)'s. Can you recover from a loss that big? Depending on you where you are in life, this is not the kind of risk you likely want to take. Unfortunately, the Federal Reserve has made things even more difficult. By purchasing bonds through "quantitative easing", the Fed has added more volatility to the already unstable stock markets. Read more: http://www.bloomberg.com/news/2013-07-31/ebbing-financial-market-risk-gives-fed-option-to-delay-tapering.html 

In the big picture, 401(k)'s are qualified plans, along with IRA's ROTH's, 403(b)'s, ESOP's, SIMPLE's, SEP's and others. The illusion of these plans, or how they have been sold to the public, is that they save taxes.

In reality, Qualified Plans do two things. First, they defer the tax (but they do not necessarily save taxes). Second, they defer the tax calculation. Since the taxes are deferred, it is misleading to use the phrase “Saves Taxes” in conjunction with Qualified Plans. Since the calculation of taxes is deferred (until withdrawals start), qualified plans will work great if the you retire in a lower tax bracket than your current tax bracket. However, if you retire in a higher tax bracket, then the qualified plan has cost you money.  This is because you pay more taxes in the higher tax bracket. Do you want to make more money in the future or less? When you make more money, what happens to your tax bracket? Do you think tax rates are going up in the future?

After you ask yourself those questions and come to grips with reality, you can make a decision on whether or not you feel your 401(k) or other qualified retirement plan is a smart way to save money. The more important questions may involve some deep thought.

When considering your contribution to your 401(k), there are primarily 3 questions you should ask.
1. What tax bracket will you be in at retirement?
2. What deductions will you have when you take your money?
3. What is your exit strategy?

Since the government is constantly changing the rules, it's hard to determine your tax bracket or your deductions. And, many people are just planning on their money being there according to the nice prospectus given them by the plan administrator, so the exit strategy is "give me what's left."

Then consider these very important questions. What amount of your total contributions (cost basis) will be yours to spend net of taxes? This number may surprise you and there are NO GUARANTEES. Are you comfortable having your entire life's savings locked-up in a government plan for 30+ years and administered by a financial institution that needs your bailout money to prevent them from failing?

You do have alternatives. Once you take responsibility for your own financial future, you can make informed decisions based on your desires and abilities. You don’t have to be victimized by government rules, financial institutions, a volatile stock market or any of the other uncontrollable "ifs, ands, or buts". By educating yourself and following through on a course of action, you can change your financial forecast from gloomy to sunny. And, you'll be in charge of directing the course of your financial future.

Follow this link to learn more about your alternatives: http://legacyinsuranceagency.com/alternative

Until next time,
Barry Page
Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com
Shield Financial Consulting
www.shieldfinancial.com
Family Bank Business
www.familybankbusiness.com

Barry Page is recognized as a leading expert on finance, life insurance and private banking. He is a financial consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the United States.

Tuesday, March 26, 2013

Brace Yourself for Financial Armageddon


Brace Yourself for Financial Armageddon
How To Protect Your Family, Home and Future  

For the past year or so I've been relatively quiet compared to my emotions about the state of our financial markets. From my perspective I want to share with you what I know, but on the other hand I risk the chance of sounding negative. I can't stand aside quietly anymore, brace yourself for financial armageddon!

Ezekiel 33:6 - But if the watchman see the sword come, and blow not the trumpet, and the people be not warned; if the sword come, and take any person from among them, he is taken away in his iniquity; but his blood will I require at the watchman's hand.

The evidence is everywhere and even the media are getting nervous as the financial gurus predict economic collapse.

Jim Cramer, a former hedge fund manager and host of CNBC’s Mad Money, declared on Meet the Press with David Gregory, “I’m predicting bank runs in Spain and Italy within the next few weeks.  Without a coordinated policy, there is going to be financial anarchy in Europe and it's going to cause a slowdown worldwide, China and here.”

Even members of the Federal Reserve itself are speaking out. In a recent news story with Reuters, Richard Fisher, President of the Dallas Federal Reserve, said "We ... know that monetary policy is necessary but not sufficient to achieve full employment because it's also a function of fiscal policy. And there lies the problem."
http://www.reuters.com/article/2013/03/26/emirates-fed-fisher-bonds-idUSL5N0CI0F820130326 

Well known financial analysts who predicted the last crash are giving their warnings. Jim Rogers is prediciting a major crash ahead for U.S. investors. "I don't trust the data from any government, including the U.S.", Rogers said. "We know that governments lie to us. Everybody's printing money, but it cannot go on. This is all artificial."
http://moneymorning.com/ob-article/jim-rogers-major-crash-ahead.php?

Harry Dent Predicts Global Economic Crash in 2013 on CNBC. "We are primed for a crisis... It's not anything that should be unexpected." A market crash is coming in 2013 or 2014, Dent warned in an article in USA Today. “This will be a repeat of 2008-09, only bigger, when it finally hits... Get out of the way.” 

Peter Schiff has constantly reminded the public of dangers that lie ahead. Schiff also points out specific ways that they can profit from economic collapse by investing in gold and silver and has even written a book, Crash Proof.

Alex Jones says Financial Armageddon has already started. He warns us against the EU and IMF in this video: http://youtu.be/ho41rbmusko

Even others will profit from the major losses that others will take. George Soros is said to have made $1 Billion just since November betting against the Yen, according to Bloomberg. 

How will the chaos happening in Europe effect the United States? The Cyprus government has agreed to a bailout deal with international creditors. It will receive 10 Billion Euros, (about $13 Billion) from Troika lenders, a group comprised of the International Monetary Fund (IMF), the European Central Bank and the European Commission. 

European bailouts will mean American taxpayers will fund a major portion of them. The Federal Reserve provides 20% of the money for the IMF, and they are the entity that will lend the money. The bailout will be used to pay save the banks and the taxpayers will absorb the losses. 

Enough bad news, or shall we call it reality news, what can we do protect ourselves from loss? While taking this all in, think about your family and what is absolutely most important to you. If something bad happens, what do you want to happen? In order to survive, you need a plan.

Psalm 49:10For he seeth that wise men die, likewise the fool and the brutish person PERISH, and leave their wealth to others. 

What You Can Do Now To Protect Your Home and Future?

1. Have an Emergency Plan - The best thing is to have multiple plans, a plan B and C.  Do you have your relatives most recent contact information handy? Could you provide space or bunk with them in case of an emergency? Do you own a tent and sleeping bags if you had to rough it outside?  If the day comes and you have to leave for somewhere, where would that be?  You need to have an emergency plan.

2. Protect Your Valuables – Secure your home and always lock your doors and windows. Safeguard your valuables by being discreet and not leaving valuables in plain sight. Consider owning a gun for protection. 

3. Stockpile Food and Plant a Garden - Stock up on clean drinking water and essentials, including  non-perishable foods. In times of emergency you may find that water purification tablets come in handy. Food will become one of the most valuable commodities in existence in the event of an economic collapse.  If you do not have food you will not survive. Now is the time to buy seeds, before the mad rush. Take the time to prepare your soil and learn how to plant a vegetable garden. 

4. Remain Liquid and In Control of Your Money - You may be surprised that your money is not completely safe in the bank. It’s a good idea to keep an emergency fund close to home, preferably protected in a safe. You’ll want to spend less, save more, and curb investing in speculative products or buying anything that isn't necessary.

5. Spend Time With Your Family - Eat meals together as a family. Research shows that family meals produce positive kids. Pray Together. Our country was founded on faith and we need it now more than ever.

Saving money is what built this country. While the media and financial pundits will tell you that saving is a bad thing in tough times, and would suggest that "now" is the time to invest, having liquidity and access to capital when you need it will always put you in a favorable position. In uncertain times with markets and banks teetering on collapse, safety and liquidity are key to surviving.

You can protect your family and your wealth by creating a system of finance that is independent of traditional banking models. By utilizing a little known financial tool that out dates the Federal Reserve and the Internal Revenue Service, you can virtually become your own banker. This tool is called dividend paying, whole-life insurance. And, even though you may have been told by my the media and entertainers, parading as financial gurus, that whole-life insurance is a bad place to put your money... they are wrong!

Life insurance has survived depressions and recessions and has been around for centuries. While stock markets have remained volatile, owners of this centuries old financial tool have been able to rest easy and prosper. When properly administered, permanent life insurance from a mutual company, can be used to create your own family banking system that can live on for generations. You can learn more about family banking here: http://familybankbusiness.com

You may also want to consider keeping a portion of your portfolio in precious metals, not as an investment, but as a form of insurance. Historically, precious metals have served as a store of wealth and have long been prized as the only truly reliable hedge against inflation. As tangible commodities with intrinsic value, they offer distinct advantages over stocks, bonds and other paper assets. While the value of stocks can decline absolutely, precious metals such as gold, silver, palladium and platinum always retain a value, regardless of market conditions. Even when compared to other hard assets, such as real estate or fine works of art, precious metals 
compare favorably based on their high degree of liquidity and portability. Learn more about precious metals and how you can own them here: http://www.shieldfinancial.com 

In closing, I'm urging you to take the steps necessary to protect your family, home and future. Burying your head in the sand could result in the demise for your family. And, all that you have worked all of your life for could be gone. The government will not save you. Take action now!

Until next time,
Barry Page
Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com
Shield Financial Consulting
www.shieldfinancial.com 
Family Bank Business
www.familybankbusiness.com

Barry Page is recognized as a leading expert on finance, life insurance and private banking. He is a financial consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning. 

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the United States.

Wednesday, October 31, 2012

Your Future Resides in Your Hands - What You Can Do Now to Secure Your Family’s Future



What You Can Do Now to Secure Your Family’s Future

It’s down to the wire… Who will be the next President of the United States of America? Regardless of who wins, your future resides in your hands. In the coming months our world is going to change… the question is, will you be ready for what’s next?

In my business, I've been advised not to speak about politics or religion. I disagree with this, because our history is based on both politics and religion. And, if you don’t understand history then you are destined to repeat the mistakes of the past in the future.

Currently, our country is in the middle of an economic depression. Congress has refused to balance the budget and government spending is out of control. And… many Americans don’t seem to care about this or the issues that will affect them and their families in the future. 

In my opinion, these are a few key issues that will have a tremendous impact on our country going forward. We have, and will experience tremendous change because of these issues.

1.   Economics – Current economic policy suggests that we can spend our way out of our financial problems, better known as Keynesian Economics. On the other side of the coin is Austrian Economics which is based on a free market economy with less government involvement. Only one Presidential candidate advocated Austrian Economics, and he is no longer in the race. You can learn more about Austrian Economics from the Mises Institute. http://mises.org/   

2.    Entitlement – As American’s feel the pinch of failed policies and economic depression, they are becoming more and more reliant on the government for handouts. The number of American’s depending on Medicaid, food stamps and other government welfare has grown at alarming rates in the last few years. http://rt.com/usa/news/half-government-million-percent-320/ 

3.    Marriage – Even government statistics show that children growing up in broken homes, or single parent homes, are less likely to finish college and more likely to commit crimes. Divorce rates are rising as parents find it harder to find employment. And, single parents having children out of wedlock have risen at alarming rates. http://www.census.gov/hhes/families/ 

All of these issues revolve around responsibility. This word can be broken down into the words, Response and Ability. Our ability to respond to our situations with our God given ability will determine our success. Even if we fail, when we take responsibility for our actions, we succeed in learning and growing. When we blame others for our circumstances, we develop an entitlement mindset, therefore failing in our ability to improve.

Merriam Webster Definition of RESPONSIBILITY:  the quality or state of being responsible: as a : moral, legal, or mental accountability b : reliability, trustworthiness.

According to this definition, do you think that our government is being Responsible? Reliable? Accountable?  I’ll stay away from the Legal, Moral and Trustworthy terms and let you ask those questions.

The good news is, you don’t have to depend on the government or their handouts to be responsible. This can start at home by changing a few habits. You don’t need any more time or money to do these simple things, and you will be amazed at the results.

 5 Habits You Can Change Now 
  1. Read More (History and biographies, Not fiction or magazines)
  2. Watch Less TV (Reserve the television for family movies, special events and education)
  3. Eat Together (Schedule meals. Research shows that family meals produce positive kids)
  4. Pray Together (Our country was founded on faith and we need it now more than ever)
  5. Spend Less, Save More and Invest Wisely (Remain liquid and keep an emergency fund)

What else can you do at home? You can protect what is most important to you. Make ABSOLUTELY CERTAIN your affairs are in order. Here’s what I mean. Think about what is absolutely most important to you. If something catastrophic happened, what do you want to happen?

3 Things You Can Do To Protect Your Home and Future  
  1. Stockpile Food and Plant a garden
  2. Secure Your Home and Valuables 
  3. Get a Weapon for Protection
Hopefully this blog has caused you to think about your family and what’s important. Now that you have a better idea of what you can do, take action now!

Until next time,
Barry Page

Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com

Shield Financial Consulting
www.shieldfinancial.com
 
 
Barry Page is recognized as a leading expert on life insurance and private banking. He is a financial consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning. 

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the United States.

Friday, September 14, 2012

It’s the end of the world as we know it… QE3



Bernanke launches an open-ended round of Quantitative Easing (QE3).

It’s the end of the world as we know it… Thursday, the Federal Reserve announced that it will buy $40 billion dollars of mortgage-backed securities per monthindefinitely.) and extended the period for which it will keep rates between 0 and 1/4% to mid-2015.

This FOMC statement that sums it up:
"....The Committee agreed today to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month. The Committee also will continue through the end of the year its program to extend the average maturity of its holdings of securities as announced in June, and it is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities. These actions...should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative."

To give you some comparison so you know how GIANT this is, QE1 was $1.7 Trillion. QE2 was roughly half a trillion. The new plan isn't really QE3, because it's never scheduled to end. It is an entirely different, evil BEAST.

But…what’s really scary is in this next paragraph:
If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability. In determining the size, pace, and composition of its asset purchases, the Committee will, as always, take appropriate account of the likely efficacy and costs of such purchases.

When will it end? “Indefinitely” is the key word here. The Fed has essentially given itself the power to do as it pleases for as long as it pleases. We are talking unlimited power.

Okay, I know, enough bad news… what can we do about it? The answer is not much until something is done to get these criminals out of control. For now we must protect what we have, stay liquid and support those who respect our freedoms and liberty.

Until next time,
Barry Page
Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com

Shield Financial Consulting
www.shieldfinancial.com
 

Barry Page is recognized as a leading expert on life insurance and private banking. He is a financial consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning. 

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the Southeast.



Wednesday, August 15, 2012

Enough to Make Your Blood BOIL! The TRUTH about Your 401k and IRA

It's enough to make your blood boil. Once you learn the truth about your 401k and other IRA Government Qualified Retirement Accounts, you'll want to reevaluate your financial plans.
Barry Dyke, author of "The Pirates of Manhattan - Highway To Serfdom", blows the top off Wall Street and the so called, "Government Regulators": http://economicwarrior.org/2012/08/14/author-unveils-americans-77-38-exposure-to-stocks-in-their-retirement-accounts-rampant-speculation-with-no-guarantees/
In this short video, Barry Dyke, discusses the severity of the rampant speculation problem on Wall Street with Allen McLellan of The American College. Dyke explains how your mutual funds in your retirement accounts are like rolling the dice at the casinos. Dyke says "The deck is stacked against the average investor and the government goes along with the scam.” http://www.thewealthchannel.com/videos/the-house-always-wins
Here are some notable lines from the book, The Pirates of Manhattan Highway To Serfdom, that put tax evasion in perspective:
"GE paid nothing in taxes in 2010-in fact the conglomerate claimed a $3.2 billion tax credit." 
"Andrea Mitchell the NBC chief foreign affairs correspondent for NBC in Washington is married to former Federal Reserve Chairman Alan Greenspan." 
"GE CEO Jeffrey Immelt is on the Board of Directors of the Federal Reserve Bank of New York along with Jamie Diamond CEO of J.P. Morgan Chase. Pres. Obama appointed Mr. Immelt to be his top outside economic advisor."
Bottom line, if you want create a real retirement plan, don't take advice from Uncle Sam and the Mega Banks. You're better off on your own, creating your own system for finance.
IF You want to know the health of your retirement plan, get a financial checkup and see where you stand. Follow this link to schedule a no cost, no obligation consultation: http://legacyinsuranceagency.com/financialanalysis.html
Until next time, get your financial house in order!
Barry Page
Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com
Shield Financial Consulting
www.shieldfinancial.com
Barry Page is recognized as a leading expert on life insurance and private banking. He is a financial consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the Southeast.

Legacy Insurance Agency

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Recommended Reading

  • The Pirates of Manhattan
  • Becoming Your Own Banker
  • Circle of Wealth