Friday, October 30, 2009

8 Scary Truths About Your IRA

8 Scary Truths About Your Qualified Plan (IRA)
And, How To Avoid Being Taxed to Death!

If you are pondering the thought of contributing more than your match to your 401k or whether or not to make an end of year contribution to your IRA, THINK AGAIN!

Before you put another dime into your 401k, 403b, TSP, SEP or other IRA you need to know what the government and your employer aren’t telling you. And, the truth may scare you!

Here are the scary facts about qualified plans that you’ll want to know.

While many people think their Qualified Plans, that’s your 401k, 403b, TSP, SEP or IRA, save taxes; they don’t.
They do 2 things:
1. They defer tax
2. They defer the tax calculation

Your employer may be making decisions about how your 401k is managed, without your knowledge. More and more employers are now automatically directing more of their employee’s pay into their 401k, and often it is into more risky investments; even though you may have previously chosen your own investments. Much of the money is being re-directed into “target-date” mutual funds, These funds lost so much money last year, that lawmakers and regulators are now analyzing and scrutinizing their actions. Morningstar reported that many that were at or near retirement with these type funds, suffered losses of 32 to 41 percent.

Even scarier, the fees charged on target-date funds are “significantly higher than those charged by other funds on plans’ investment menus” according to on October 10, 2009.

In comparison, the growth in a properly funded permanent life contract is both guaranteed and exponential. You can also predict the minimum guaranteed value of the plan, the minimum guaranteed income you can take from the policy, and how long you could take the withdrawal.

Many of the important decisions about your employer sponsored IRA (401k, 403b, TSP, etc) may be made by people who may have No Training or education.

According to the November, 2009 issue of SmartMoney Magazine (“The Accidental 401k Planner”), as many as 90% of the country’s employees’ 401k plans are watched over by people who “need no special qualifications and no investing expertise or experience”. Many managers hire brokers to suggest mutual funds, and brokers are not legally required to choose funds with low fees, so the outcome could cost you tens of thousands of dollars over your lifetime.

The true impact on your wealth from 401k hidden fees is ENORMOUS! While you may be aware of some charges, many fees are not required to be disclosed to you in the 401k or mutual fund prospectus.

And, even scarier, according to a 60 Minutes report, “401k Recession”, over your working career, this can result in your losing up to half of your nest egg!

By utilizing the Infinite Banking Concept™, you can kiss hidden fees goodbye. All costs are already included in the premium, and by properly funding a participateing whole-life policy, you will actually experience reduced costs that are associated with other contracts. So, why not request a Free, No Obligation Financial Analysis now?

Just click the link below to start enjoying the benefits:

As you near retirement your money in your 401k is more at risk. This is because the losses can be greater as your plan accumulates over time. A market loss in your last working years could be devastating. In a recent story in Time Magazine (“Why It’s Time to Retire the 401k”, October 9, 2009), they reported that during the recent market downturn, 401k’s of 55-to-65-year-olds lost a quarter more than those of their 35-to-45-year-old counterparts.

A dividend paying, whole-life policy actually becomes more efficient over time, and can provide you with peak growth at retirement, when you will need it most, without the risk associated with the stock market or other investments.

Borrowing from your 401k can cause double taxation! If you borrow money from your 401k, for any reason before you’re 59½, in most cases you’re required to pay back any loans back in full with interest within 30 to 60 days, or you’ll have to pay income taxes, PLUS a 10% penalty. But, what’s worse is when you repay the loan you are using after tax dollars, so you will end up being taxed again upon distribution.

With a whole-life contract you can set the rules for borrowing and repaying the loan. And, the money received from loans is tax-free up to the cost-basis. Another benefit is that a properly funded policy will also continue to grow, even with a loan against it. A properly trained agent can show you how to receive even more tax advantages from your policy. The average family could expect to recapture hundreds of thousands of dollars over their lifetimes, just by using their life policies as a resource, without having to depend on banks or other financial institutions.

Deferring income taxes could cause you to PAY MORE IN TAXES! And, that’s assuming tax-rates don’t increase at all. If you are deferring taxes now in a lower bracket, and you get normal cost of living raises, at retirement you could be in a higher tax bracket resulting in a higher tax rate. If taxes go up in the future, then things get even worse.

With a Maximum Efficient Contract, you could enjoy as much as a 150% better lifestyle at retirement without even touching your life insurance policy. If you make withdrawals from your policy, they could be completely income-tax free under current tax law.

The government is in control of your Qualified Plan! And, just as they change tax laws every year, they can change the rules for your IRA. Think about what’s going on right now with government spending. Where will the money come from to fund these bailouts? Do you know that Congress has changed the rules on taxation of Social Security over the years so that now as much as 85% of Social Security income can be taxed?

So, why not take advantage of a properly funded whole-life policy that can give you protection and peace of mind without government control?

Qualified Plans: Trick or Treat?

Have a wonderful Fall Holiday!
Barry Page
Infinite Banking Think Tank Member
Financial Consultant

Learn more about Infinite Banking here:

Wednesday, October 21, 2009

BEWARE: You Are A Target!

Are The Politicians About To Increase Your Taxes?

It's even worse than we feared! The politicians and Congress are after our money, in larger ways than anyone could have ever imagined. We all feel the pain of taxes, and have feared that they could go sky high, just like they have in the past. But, no one is ready for the full scale assault the leaders in Washington are planning. Everything You Own Will Be Affected By Taxes!

Our budget deficit is already skyrocketing, and it is only going to get worse. You know that our country is in a real mess, and the problem has only been perpetuating for years. Much of this growing snowball has been caused by an archaic tax system and overspending by our Government. Not to mention a failure to address the problems of our social programs. But, instead of using common sense to solve problems, our political representatives have done their best to make things worse. No matter what your tax bracket, your age, or your net worth, everything you own will be subject to vicious attacks!

The Obama administration is ready to unvail another so-called stimulus plan. It will be disguised, and they won’t call it a stimulus plan, but make no mistake... you will be paying for it.

The administration’s health care reform bill has ran into some opposition, and it is unclear what the ultimate outcome will be. However, there is no question that it will cost BILLIONS... if not TRILLIONS of dollars. And, where will the money come from???

Have you heard about the Green Treaty? You can watch a video from Lord Christopher Monckton here: This treaty will cost our country billions!

If you have any doubt that Global Warming is a hoax, then please take the time to visit this website formed by over 31,000 scientists who say that it is:

With his new Nobel Peace Prize in hand, President Obama is set to expand our war efforts by sending as many as 40,000 additional troops to Afghanistan. All while the President avoids direct questions and only alludes to what our real course of action will be. Meanwhile, election fraud runs rampant in Afghanistan, and our troops are faced with indecision. Regardless of what happens, our spending on the war will cost our families for generations to come.

Plain and simple, government is a parasite that sucks money out of taxpayers. The politicians always find a way to disguise their spending in a way that makes it look like we need their help. In other words they try to fix their problems by making us think they are helping us, read qualified plans, bailouts and stimulus. It always takes more tax dollars to pay for their spending.

Policymakers are now eyeing other ways to cover the costs of their new initiatives. The latest idea, which seems to have overwhelming support from the Democrat majority, is to start Taxing You for every securities transaction you make. You read that right, our politicians want to tax you for trading in the stock market!

The Economic Policy Institute is considering a national transaction tax that could raise $100-$150 Billion a year. All stock trades would be taxed at a rate of 0.1% to 0.25% of the value of the trade, and the tax would be levied on all financial transactions.

Though most have missed it, the Transaction Tax has already found its way into law. The President, at the urging of House Democratic leaders, submitted legislation to “recoup” from the financial-services industry any eventual shortfall in the Troubled Asset Relief Program, or TARP.

Representative Barney Frank, Chairman of the House Financial Services Committee, said he supported the idea of recouping future losses from the industry: “I was one of the ones who suggested.” Former Federal Reserve Chairman, Paul Volcker, said “it might be interesting” if Congress ordered further study of the idea of a transactions tax.

The reality is that any time Congress has raised taxes, the result has been higher unemployment and lower standards of living. Think back to the Carter years, 17% interest rates and some of the highest taxes in our lifetimes. Well, we are faced with that same scenario again. Higher Taxes are not the answer, but they are coming...

You see, some politicians think that because you've worked hard to get where you are, then you should subsidize those who have not. How do you feel about that?

Regardless of your income, new and higher taxes will affect you and your family. If you earn more, and pay more in taxes, then obviously you have been pegged, if you lose your job or you retire, then you will be robbed as well.

When you look at the history of taxes, and what the politicians are calling for, things don't look good. And, if you die under current law they will take even more!

The bottom line is that if you make a substantial income, you could soon see your taxes double!"

And, don’t be fooled with recent stock market gains, there is a hidden factor. INFLATION is the STEALTH TAX! Have you noticed how much things cost these days? What will it be like when we retire? Even if we do save more money, it's going to be worth less when we actually need it, UNLESS we have a plan to combat inflation.

What can we do about these HUGE problems? I decided that if I was concerned about these problems, then others must be too. And, many of my clients that were seeing their incomes increase now, were concerned about FUTURE TAXES.

So, I decided to make available to you a free report that outlines exactly how taxes can effect your income now and at retirement. The problems that qualified plans like IRA's, SEP's and 401k's can cause. And, what you can do about it now to prevent being taxed into the poor house!

Fortunately, this report identifies problems and outlines solutions, along with simple steps you can take now to prevent the problems later. All you have to do is enter your name and email and I will instantly send you your free report. It could save you and your family MILLIONS in taxes.
If you want to avoid overpaying your taxes, and don't want to leave your family with a hefty tax bill, get a copy of this eye-opening report for yourself. After all, wouldn't you like to know if you're being fooled?

To get your Free Report simply click the link below and fill-out the easy form. The report is available 24/7 and there is no-charge. And, most importantly there is no one to hassle you.

Click this link for instant access to your free report,
TAXES, The Largest Transfer of Your Wealth.

Until next time,
Barry Page

Barry Page is a licensed agent and financial consultant.
He can be reached online at

Thursday, September 10, 2009

Wonders of Life

We live for life’s wondrous moments...
From simple pleasures like enjoying quality time with loved ones to major milestones such as seeing your child graduate or walk down the wedding aisle, these are the moments we cherish most. You work hard to make sure your loved ones have a comfortable life, and hopefully one that includes its fair share of wondrous moments. But if you were suddenly out of the picture, would your loved ones have the same opportunities and quality of life? Life insurance helps ensure that the lifestyle you’ve worked so hard to achieve for your loved ones won’t come to a halt if something were to happen to you.

Time to review your life insurance needs
September is Life Insurance Awareness Month (LIAM), the perfect time for a life insurance review. LIAM is sponsored by the LIFE Foundation, a nonprofit organization whose mission is to help Americans make smart insurance-buying decisions. First, read about the 7 Wonders of Life Insurance. Then, before you contact someone to discuss your needs, go to our Life Insurance Needs Calculator to get a general sense of how much insurance might be right for you. Once you’ve spent a few minutes on our site, you’ll be in a better position to have an informed conversation with an insurance advisor or your benefits manager at work.

To learn more about the wonders of life insurance contact:
Barry Page
(228) 875-5545

Wednesday, September 2, 2009

Tu Ne Cede Malis!

Tu Ne Cede Malis!
Do Not Give In To Evil

The motto of the Ludwig von Mises Institute, Tu Ne Cede Malis, should be our battle cry. What is being perpetrated as a means to save our country by unprecedented spending is evil. The government is seizing control of our liberties quickly, and as citizens we must stand up against this evil.

Ron Paul, a student of Austrian economics, has been behind a push to audit the Federal Reserve. On the other side, Ben Bernanke, objects to this “intrusion” into their books, stating that it would cause a massive failure to our financial system. Does it seem ironic to you that Ben Bernanke bailed out Goldman Sachs, but not their nearest competitor, Lehman Brothers?

According to Reuters, 84 banks have failed so far in 2009, over 400 more are in trouble. The FDIC funds have been depleted by 20% due to these failures. And you think your money is safe in the bank? Mostly it is, but that’s not the problem. When banks and government collude to create a system to control monetary supply, now that is a problem. And, our Federal Reserve System is a major source of the problem.

Recently I heard Warren Buffett answer some financial questions about the past year on MSNBC. He said that he didn’t worry about the market or losing money because he knew over the long term that the dollar will go down in value and in turn he would make money. Huh? Does he know something that we don’t?

Later, talking about taxes and what it will take for our economy to recover, Buffett stated that American’s must trust our banks. And, when looking at the market, he likes Wells Fargo and Goldman Sachs, of course.

Shortly after that a commercial comes on that reminded me of a rock band concert ad, it was for Timothy Geithner! MSNBC is throwing a big party town hall meeting where “you” can ask him tough questions….yeah right. If you get a chance, ask him why he lied about cheating on his taxes or how if he can’t figure that out, how he plans to run our country’s accounting and tax system. We have a tax cheat running the IRS and basically deciding the fate of our country… Maybe Obama will be the opening act.

Okay, back to the banks. Banks are failing because of the Federal Reserve System. Ask yourself how a bank can borrow money for less than1%, loan it out for 5% to upwards of 20%, and lose money? Banks use a fractional reserve lending system. This allows them to lend out much more than they have in reserves, taking huge risks.

People are nervous, and rightly so. What can you do? I hear that every day. The good news is that there is something you can do. You need to do the OPPOSITE OF WHAT THE GOVERNMENT IS DOING.

Here’s my short list of what YOU CAN DO NOW:
1. Take control of your finances, now.
2. Curb your spending and save the difference.
3. Spread your accounts around if you keep large amounts of liquid cash.
4. When looking for a secure location to store your wealth consider the solvency of the financial institution, do your research.

As you start to accumulate wealth and educate yourself on how your money is flowing, you will want to ask yourself some questions, and understand who is really in control of your account.

5 questions to ask yourself when choosing a place to deposit YOUR HARD EARNED MONEY:
1. Is my principle guaranteed?
2. Are my funds liquid?
3. Are my funds creditor protected?
4. Are there any tax benefits?
5. Will I earn a competitive return?

Your time is now. If you find yourself in uncertain financial times or with growing concerns over where our country is headed, take control. Use this as an opportunity to explore your passion. Leverage your time and your relationships to pursue your dreams. Protect your liberty and cherish your freedom.

Until next time,
Barry Page

Barry Page is a licensed insurance agent and financial consultant located in Ocean Springs, MS. He can be reached via the web at

Wednesday, June 17, 2009

Don't Worry, Obama Will Fix Everything...

Obama Initiative Seeks Fix to Finance Regulations - AP. That was the headline from AP and the story that was widely publicized today, June 17, 2009. Here is a direct quote from the story: "The Obama plan recommends increased powers for the Federal Reserve, which is the U.S. central bank"

Read it here:

As citizens of the United States, we need to be ALARMED!

You owe it to yourself to learn the truth about the Federal Reserve System. Watch a free video on the history of the Federal Reserve here:

You'll also find the book, "The Creature from Jekyll Island" by G Edward Griffin available on this webpage as well as a free mp3 recording. The book reveals the truth about how the Federal Reserve was created and why our Banking system is a monopolistic cartel.

As citizens of the United States, we need to be ALARMED!

Contact your Congressional Representative

Join a Tea Party

Tuesday, June 16, 2009

How To Survive and Thrive in the New Era of Finance

How To Survive and Thrive
in the New Era of Finance
Credit and Your Financial Future

Finance and credit, as we know them today, are changing rapidly. Your financial future will be determined by how you use money in this new era of finance. Follow these guidelines to survive and thrive in the new era of finance.

Credit and lending have been slowly tightening over the past year, despite the Fed’s attempts to flood the economy with “Fiat” money. And, this new legislation wrapped in an ACT to supposedly protect the consumer will only create more stringent guidelines and qualifications for lending.

Now this isn’t completely bad news, because American’s need to quit borrowing and depending on credit cards to finance everything they buy. However the ability to access capital can be crucial, and you should be aware of the most effective and efficient ways to borrow money.
In today’s fast-paced world we are often lured into buying when we ought to be saving. Saving takes discipline, and with the ease of purchasing using a credit that makes the task that more difficult.

By learning how cash flows you can reverse the trend and recapture some of the interest you now pay to others. How you finance and pay your expenses will have an enormous effect on your lifestyle today and how you spend your retirement income tomorrow.

“You finance everything you buy. You either pay interest to others or you lose interest you could be earning. Anytime you can cut out the payment of interest to others and direct that same market rate of interest to an entity that you own and control, with minimal taxation, you have improved your situation.” ~Nelson Nash

Most all items in your budget are financed either by credit cards or loans. The balance is financed by paying cash, thus, giving up interest that could be otherwise earned.

While creating a financial system to accommodate your income may sound difficult, it can be relatively simple. The primary difficulties you will encounter will be human factors.

Human Factors That Will Affect Your Ability To Create Wealth

1. Parkinson’s Law – expenses rise to equal income.
2. Willie Sutton’s Law – wherever wealth is created, someone will try to steal it.
3. The Arrival Syndrome – I already know everything, so there is no need to learn anything new.

While we may have been told that creating wealth is a factor of the rate of return, that is only part of the equation. Most often the magical rate of return that we are chasing comes with RISK. A better approach to creating wealth will focus on eliminating the eroding factors and maintaining control of the money.

Wednesday, May 27, 2009

Disability Income Awareness Month

May 2009 has been Designated as Disability Income Awareness Month

What is DIAM? Disability Insurance Awareness Month (DIAM) is an industry-wide campaign designed to get American workers to think about the need to protect their greatest asset – their ability to earn an income. Becoming disabled and not being able to work is one of the greatest financial risks people face, and yet disability insurance continues to be one of the most overlooked and misunderstood types of insurance today.

Learn how to protect your income with disability insurance by clicking this link:

Wednesday, April 15, 2009

The IRS and Fed Cartel - Thieves!

The IRS and Fed Cartel

The IRS appears to be a collection agency working for foreign banks engaging in money laundering, extortion racketeering, and conspiracy. Much like the Federal Reserve, it operates under “secret code” and mounds of amendments, clauses and paperwork. Operating out of Puerto Rico under disguise of the Federal Alcohol Administration (“FAA”), the FAA was promptly declared unconstitutional inside the 50 States by the U.S. Supreme Court in the case of U.S. v. Constantine, 296 U.S. 287 (1935), because Prohibition had already been repealed. There is no known Act of Congress, nor any Executive Order, giving th IRS lawful jurisdiction to operate within any of the 50 States of the Union.

Their presence within the 50 States appears to stem from certain Agreements on Coordination of Tax Administration (“ACTA”), which officials in those States have consummated with the Commissioner of Internal Revenue. A template for ACTA agreements can be found at the IRS Internet website and in the Supreme Law Library on the Internet. However, those ACTA agreements are demonstrably fraudulent, for example, by expressly defining “IRS” as a lawful bureau within the U.S. Department of the Treasury.

Moreover, those ACTA agreements also appear to violate State laws requiring competitive bidding before such a service contract can be awarded by a State government to any subcontractor. There is no evidence to indicate that ACTA agreements were reached after competitive bidding processes; on the contrary, the IRS is adamant about maintaining a monopoly syndicate. The identity of the Secretary is not found in title 26 U.S.C.. The only reference to the identity of the Secretary of the Treasury is in 27 C.F.R. at section 250.11 (definitions) which specifically states: "Secretary means Secretary of the Treasury of Puerto Rico".

In 1998, the United States Court of Appeals for the First Circuit identified a second “Secretary of the Treasury” as a man by the name of Manual Díaz-Saldaña.

Contact him and see what kind of response you get:
Departamento De Hacienda
Secretary of the Treasury
Manuel Diaz Saldana
P.O. Box 4515
San Juan, Puerto Rico, 00902

To learn more about the Federal Reserve and Taxes visit:

Much of this blog was reprinted from:

Monday, April 13, 2009

Protect Yourself From The Unexpected With Short Term Medical Insurance

Protect Yourself From The Unexpected with Short Term Medical Insurance

Short Term Medical Insurance or Temporary Health Insurance can help you protect yourself from the unexpected. The unexpected can happen at any time, while you're in between jobs or after college and before you launch your career. So, why take risks with your health?

You can cover yourself with short-term medical insurance, also known as temporary health insurance. Temporary health insurance can cover you when you change jobs, when you move or any time you have a need for temporary insurance. Short-Term Medical coverage is available for individuals and families.

Perhaps you've been laid off or you're between jobs, if so you may want to consider a temporary solution. Usually, temporary insurance can be purchased for 1 month, 3 months, 6 months or a year. Maybe you have moved and haven't decided on the exact type of plan you are looking for. The important thing is to have coverage in case of the unexpected.

With temporary health insurance, underwriting is easy and you can usually be covered by the next day. You can apply online here

Accidents happen, so make sure you are protected.

Be safe,
Barry Page

Barry Page is a licensed health and life insurance agent. He can be reaced online at

Legacy Insurance Agency

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