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.

Take Control of Your Finances and Avoid the Government Chaos!

Take Control of Your Finances and Avoid the Government Chaos!

Our government is out of ideas... and chaos is taking control. In 2006 they didn't see the crisis coming? Then in 2008 they couldn't understand it, so they threw money at the problem. Then from 2009-2011 more bailouts and wreckless spending still haven't worked.

Meanwhile, American households knew that the problem was too much debt. Still, they have the gall to ask for more money and to raise the debt ceiling. The FED chief (Ben Bernanke of The Federal Reserve) claims that the money we've spent was "invested" and we are receiving a return on our investment. Yet, after over $7 TRILLION in losses, housing prices continue to fall, unemployment continues to rise, and new graduates can't get a job. You would think "they" would get it by now, more debt is not the answer.

Take a look at our current debt: http://usdebtclock.org Do you see any return?

While our Government can not solve their debt problems, you can! You don't have to depend on the government and the financial institutions. By taking responsibility for your financial decisions, you can create your own system of finance. One that will free you from the dependency of the government. Take the time to educate yourself and take control of your finances today by Becoming Your Own Banker. 

Politicians are wasting your money and they want more! The reason that defaulting on our debt would cause problems is because we are in debt in the first place!!! Think about it... They are warning us that it would be harder for Americans to borrow money if we defaulted. Why? The FED and banks have BILLIONS of FIAT money sitting in vaults and interest rates are at the lowest points in history. What do you think the problem is now?

The very reason we are in this mess in the first place is because of DEBT, over leveraging and eased lending practices. This causes false hope and INFLATION. And, if you haven't felt it yet, it's coming. Government needs to be smaller and we need to abolish the FED. We need to take control of our finances and STOP being dependent on the government and the financial institutions.

Depending on where you went to school, you probably learned about economics from a Keynesian perspective. This is exactly what our government is doing now, trying to spend our way out of an economic problem. Contrary to this belief, free markets should be allowed to exist, and money creation out of thin air should not.

Austrian Economics is an entirely different approach that dissents from the mainstream on method, theory, and policy. It views economic actors as unique, conscious, and freely choosing individuals, not as undifferentiated data to be manipulated mathematically or politically.

Rooted in the tradition of Carl Menger and Ludwig von Mises, as well as Murray Rothbard and F.A. Hayek, the Austrian approach offers a rigorous and logical approach to economics that gives free markets their due and takes full account of the reality of human choice.

You can learn more about Austrian Economics and sit in on live classes via the web, absolutely free of charge from the Mises University. Just click this link: Austrian Economics Taught Here.

This should give you plenty to think about, and hopefully you will see the light at the end of the tunnel. Our country's current problems are rooted in debt and overspending. More government control of our financial decisions and more spending are not the answers. You do not have to depend on politicians to solve your financial problems. Just take a look at their records and you will understand why. Take action today!

Until next time,
Take Control of Your Finances!
Barry Page

Barry Page is recognized as a leading expert on life insurance and private banking. He is a Registered 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.

He has created a service that caters to families and business owners that are frustrated with the risks involved with the stock market, but still want competitive returns. His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protect their savings, but also provide tax advantages.
His business is based in Ocean Springs, MS and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

Managing Debt for Financial Freedom

Financial Freedom – It’s All About Managing the Here-and-Now
By Barry Page

To help achieve financial freedom we need to manage how we spend our money. This may require us to make small shifts in our spending habits today in order to reap big rewards tomorrow.

One way to help secure bigger rewards over time is to control and manage the here-and-now. For those who find it difficult to pass up the corner gourmet coffee shop, read on.

I’m not professing to create a budget; I think budgets are limiting. Better yet, I think you should create a spending plan. Think of your money as a means to an end. What’s important to you and how can you get there. If you want the money to be there in the future, then you need to manage it today.

Think of the following items you may spend money on every day and how, by making “exchanges” in your spending, you may be able to save a little more for the future. It’s all about maximizing the “equation of exchange”.

1. Credit Cards: There is a lot that goes into determining the interest rate you pay on a credit card. The credit card rate you pay is determined by adding a “spread” to a “base rate”. The spread that is used to calculate your rate is usually determined by your credit history. A less than great credit history may result in a spread 2-3 percentage points higher than someone with a better credit history. So it’s important to maintain a good credit rating. Consider calling your credit card company and asking for a reduced rate; if need be, transfer your current balances to a lower rate card.

2. Phones: I’m not going to recommend you get rid of your cell phone, house phone or cable line. I do suggest you review your phone plans to ensure you have the best plan for your needs. For example, for cell phone users who use the same vendor, you may be able to call each other without being charged airtime or usage. Additionally, review your monthly phone bills to determine how many minutes you actually use; you may be better off reducing the number of minutes.

3. Mortgages and Auto Loans: Experts generally recommend if you can reduce your interest rate by 1 or 2 points on your auto or home loan, and recoup any related closing costs, you may be better off to refinance the loan at the lower rate. Another consideration is to make biweekly payments instead of monthly payments on your mortgage. The lender will receive the money faster and in the future, you should have the loan behind you.

4. Gourmet Coffee: Are you one of those folks who stand in line to order gourmet coffee. At a whopping cost of about $3.00 per cup, instead of buying 4 a day, reduce it to 2. This little spending reduction will save you over $2,000 in one year!

5. Charging vs. Paying Cash: Do you charge just about everything you buy? If you find yourself reaching for the plastic, stop and consider what that convenience is costing you. When making small purchases, pay cash. Paying cash helps with managing your expenditures and over time, becomes a way of life.

6. Student Loans: Are you still paying off student loans? Consider consolidating them into one manageable bill. While this will probably extend the payment period, you may lock in a lower rate. For example, if you’ve already graduated and consolidate your loans by July 1, 2006, you can lock in a 5.375% rate for the life of the loan. Additionally, graduates who consolidate during their grace period (the six months before you have to start making monthly payments) can lock in a rate as low as 4.75%.

Now that you’ve hopefully freed up some money, don’t go running to the closest gourmet coffee shop and purchase a latte with sprinkles. Save the money and take one step closer to financial freedom.

Barry Page is a financial consultant with Legacy Insurance Agency, PLLC
a subsidiary of the
Shield Financial Group
2600 Government Street
Ocean Springs, MS 39564
(228) 875-5545
http://www.legacyinsuranceagency.com