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.

Where is Your Money?

Where is Your Money? Over the years you’ve heard me discuss the many options for saving and investing. While many financial gurus are still telling you to “max out your contributions” to retirement accounts, I’m raising the warning flag again…

But, I’m not the only one this time. You need to look no further than your newspaper or TV to find stories and articles on theft, corruption and taxes… Here’s a few that made headlines:

Wall Street Journal: “Missing MF Global Funds Could Top $1.2 Billion”
http://online.wsj.com/article/SB10001424052970204443404577052143849159420.html/
 
ZeroHedge: "The Entire System Has Been Utterly Destroyed By The MF Global Collapse"
http://www.zerohedge.com/news/entire-system-has-been-utterly-destroyed-mf-global-collapse-presenting-first-mf-global-casualty/

60 Minutes: “INSIDERS - Congressional Insider Trading”
http://youtu.be/x95uC_wzUX4/

CBS News: “Super committee's failure = super chance in 2012”
http://www.cbsnews.com/8301-215_162-57329393/super-committees-failure-super-chance-in-2012

InfoWars: “17 Quotes About The Coming Global Financial Collapse That Will Make Your Hair Stand Up” 
http://www.infowars.com/17-quotes-about-the-coming-global-financial-collapse-that-will-make-your-hair-stand-up/

FOXNEWS: “National Debt Hits $15 Trillion”
http://www.foxnews.com/politics/2011/11/16/national-debt-hits-15t-as-congress-strains-to-cut-12t/

Washington Post: “Treasury to Tap Pensions to Help Fund Government”
http://www.washingtonpost.com/business/economy/treasury-to-tap-pensions-to-help-fund-government/2011/05/15/AF2fqK4G_story.html?fb_ref=NetworkNews/


Okay, enough with the bad news, my message is not to depress or scare you. My intent is only to create awareness and motivate you to take action towards taking control of your personal assets. As an advisor it is my job, and I feel my responsibility, to warn you when you are at risk. I fear that the current economic situation, and the government control of U.S. retirement plans, will ultimately lead to the confiscation of trillions of dollars in what most assume are privately held assets. Why would you put another dime into a government qualified plan?

Here’s the good news, you have time to protect your assets before this assault on your private assets. But, don’t wait… Take an honest inventory of what is most important to you, and protect your assets while you have time. 

Contact me via my website www.legacyinsuranceagency.com and I will show you in 45 minutes how you could benefit from a program tailored to your unique circumstances. I've developed a unique, no-obligation, Financial Check-Up that can protect you and your family from financial predators and economic pitfalls. There will be no pressure, and you will not be asked to buy anything at this meeting.

Have a wonderful holiday!
Barry Page, RFC

Barry Page, RFC is a Registered Financial Consultant and Licensed Insurance Agent. He is an advocate for families and small business, and publishes this blog and www.legacyinsuranceagency.com to promote financial intelligence.

What Would You Do If You Knew You Couldn't Fail?

What Would You Do If You Knew You Couldn't Fail? Think about that for a moment. We often turn our heads or close our minds to new ideas because of fear. If you take it a step further, and consider the outcome being a positive one, then imagine the possibilities.

I have learned through the Infinite Banking Concept, that my capital has a cost, and I must recoup my capital outlay to practice this principle. You see my spending habits will cost me THOUSANDS of DOLLARS of MY OWN MONEY every year if I don't practice banking.

Now, let's take it a step further and discuss what it will cost you if you continue down the traditional path of financing and paying cash for your purchases. This is only 1 example out of numerous ways that you can transfer away your wealth over your lifetime.

Here's an example of purchasing a car: Automobile Financing
What would you do with 1 MILLYUN$?

So, you may be thinking that you're not going to purchase that many more cars or you'll buy used ones. What about your kids? and grandkids? You see, IBC is about keeping your money in the family.

And, have you thought about the Cost of College? Credit Cards? And, other purchases you will make.

The whole idea is to recapture the interest that you are paying to banks and finance companies for the major items that you will purchase over your lifetime, such as automobiles, major appliances, education, homes, investment opportunities, business equipment, etc.

"You finance EVERYTHING that you buy. You either pay interest to others or you give up the ability to earn interest by paying cash." ~Nelson Nash

Why would I be encouraging you to learn the Infinite Banking Concept? Because I want you to learn what I've learned, and yes, ultimately you may become a client. If you do, you will discover why my clients are calling me and thanking me during these tough, economic times. I am convinced that IBC will change your life, the way that it has mine.

You see, when I first got in the financial services business, I was encouraged to follow and teach others the same, tired methods of accumulating wealth that everyone else is using. I soon learned that those methods are a failure! If traditional financial planning worked, why do you think that so many people are broke and struggling to make ends meet?

These flawed methods of personal economics focus on the accumulation of wealth by  consistently contributing to an account and compounding the interest earned over time. When we subject ourselves to this form of thinking we are limiting our human life value.

Over time fallacies and falsehoods develop into myths. Falsehoods developed and perpetuated by so called "financial gurus" limit our productivity and stifle our human life value. Myths destroy our confidence by instilling our minds with doubt and fear.

You have probably heard the following fallacies and myths:
1. You're in it for the long-haul.
2. High-Risk = High Returns.
3. The market has averaged 10-12% over time.
4. Work hard, go to college and get a good job.
5. Save money, get out of debt, invest for the long-term and diversify.
6. When you retire you'll be in a lower tax bracket.
7. When you retire you won't need insurance.

What makes theses Myths so Destructive is that they are based on a scarcity mindset, and are Perpetuated from Generation to Generation. When we embrace the scarcity mindset we are buying into the belief that our resources are limited. Scarcity fails to account for self-worth and further limits our opportunity for ownership and growth.

If you can't afford to wait 20-30 years to build retirement wealth then learn how the VELOCITY OF MONEY can turn your financial world around and put you in control of your money. Learn how banks grow their bottom lines and Use Your Money to make money, Learn HOW TO BECOME YOUR OWN BANKER.

Today, my entire practice revolves around teaching others about the Infinite Banking Concept. Because I've learned firsthand that it works, and I've seen the impact it can have on other people's lives. So, I'm reaching out to you, because I care about you and your family. I care that your family may be subjected to the same fallacies and myths that the financial institutions
and elite want you to believe.

TO DO NOTHING IS TO RISK EVERYTHING! You have NOTHING TO LOSE and EVERYTHING TO GAIN. Click this link to learn how you can take control of your finances: Becoming Your Own Banker


Yours to count on,
Barry Page, RFC
Registered Financial Consultant
Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com 

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.

SCARY TRUTH #1:
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

SCARY TRUTH #2:
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 MoneyCentral.msn.com 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.

SCARY TRUTH #3:
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.

SCARY TRUTH #4:
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: http://legacyinsuranceagency.com/financialanalysis.html

SCARY TRUTH #5:
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.

SCARY TRUTH #6:
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.


SCARY TRUTH #7:
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.

SCARY TRUTH #8:
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
www.legacyinsuranceagency.com

Learn more about Infinite Banking here: www.infinitebanking.org