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.

Love and Money

Love and Money - Making Financial Decisions Together

You do it for love... Have you ever thought about your true motivations? Primarily we ultimately make all of our decisions based on love. It could be your love for an individual, your family, your business or your passion. This is why money is not a true motivator, love is the why we do things.

In this special issue, I will reveal:

• 3 tips for Improving Your Marriage
• How To Reduce Stress in Your Marriage
• Living the Good Life

3 tips for Improving Your Marriage

Tip #1. Hold a Monthly Financial Meeting
Many couples never talk openly about money, so when financial issues pop-up, it often leads to conflict. One of the best ways to overcome this is to sit down with your loved one on a regular basis, preferably monthly to discuss your financial matters.

Topics to discuss:
1. Spending
2. Saving
3. Budget
4. Major Expenditures

Financial literacy is of supreme importance, and all involved should be educating themselves on how their money is flowing. Once you determine where your money is going and for what, you will become more aware of how and why you make your purchases. Being aware of possible problems before they occur is also key.

The solution is to sit down with your partner monthly and go over your financial plan. Look closely at your spending patterns and discuss future expenditures. Determine if what you are spending your money on is really necessary. Is this expenditure a need or a want? 

Tip #2. Accept a Shared Responsibility
Often today, I hear of couples having separate checking accounts, but when you do this, are you really sharing in your responsibility? It is common for one spouse to play the primary role in managing finances, but both partners should be involved with financial decisions and at least be aware of how the money is being utilized. 

Again, I advocate financial literacy. When you understand what's going on with your money, you will know how to use it to your advantage.

Be aware that when one spouse makes all of the financial decisions, you are setting yourself up for conflict in the future.

Tip #3. Invest in Your Financial Knowledge
When you invest in your financial knowledge you will begin to think differently. Since we were kids we have been trained to work hard, go to school and get the best job possible. We are told that our academic education and the number of hours we trade for dollars will make us happy. If this worked, why are there so many divorces? And, why are so many people broke today?

Often debt is to blame for failed marriages, but the true culprit is a lack of financial education. We are taught very little in school about how money really works, because the goal of an academic education is to get a "job".

When you discover how a business works, you will have a different outlook on finances. Businesses earn a profit, not a paycheck. Jim Rohn once said, A job will earn you a paycheck, but a business will earn you a fortune.

Many books are available to help you increase your financial literacy. Here are some of my favorites:
http://www.legacyinsuranceagency.com/recommended-reading.html

 

How To Reduce Stress in Your Marriage

Reducing stress involves making decisions with confidence and together. By increasing your financial knowledge you will in turn increase your confidence when making financial decisions. When you plan your financial future, you will be prepared for whatever comes your way.

If you want to reduce stress and financial worry in your marriage, you need to have a plan. Your plan needs to be discussed on a regular basis (see Tips above). Your plan should include goals that you determined together. Once you determine your financial goals you can work together to achieve those goals.

While most financial plans today are put together by financial advisors from major financial institutions, they do not contain any guarantees. That is because these plans are based on paper assets where you as the investor take all of the risk. Even if you do the investing yourself, there is still a lot of luck and guesswork, with very little predictability.

A better alternative to traditional financial planning is to Become Your Own Banker. Why leave the results of your plan up to the investment bankers? Do you find it ironic that in 2008, we as taxpayers, bailed out the largest financial institutions in the world? And, these same financial institutions and banks still ask us to invest our money with them?

You can learn how to Become Your Own Banker by requesting a no-cost, no-obligation analysis:
http://legacyinsuranceagency.com/financial/financial-review-analysis.html

Living the Good Life

The idea of retirement typically involves leaving the workforce. However, if you do your research you will find that this is a government idea. An idea that involves dependency on others. Sadly today, less than 5% of Americans can retire when they expected to or live without government assistance.

The good news is, instead of depending on government assistance or qualified plans (IRA, 401k, etc), you can live the good life and control your own financial destiny. By Becoming Your Own Banker, as outlined in the bestselling book, you can live your life without restrictions.

When you Become Your Own Banker:

• You control your money.
• You can make decisions without penalty.
• You have liquidity.
• You have guarantees.
• You have peace of mind.

The Infinite Banking Concept, as outlined in the bestselling book Becoming Your Own Banker by R. Nelson Nash, is a way to create a personal financial system where you remain in control. You can finance all of your purchases over your lifetime, with your own bank! You have a solid foundation that will protect you and your loved ones in the event of financial loss. You will have access to capital when you need it and for anything you want without taxes, penalties or restrictions. Learn more and order the book, Becoming Your Own Banker, here: http://legacyinsuranceagency.com/byob/becomingyourownbanker.html

Now is the time to protect your loved ones and create your own legacy of love. Take control of your finances today by learning how to become your own banker. Request a no-cost, no-obligation analysis:
http://legacyinsuranceagency.com/financial/financial-review-analysis.html
 

Show your love this Valentine's Day by controlling your financial future and protecting what matters most.

I'm truly yours to count on,
Barry Page
Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.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.

It’s Time! How To Set and Reach Your Financial Goals

It’s Time!

How To Set and Reach
Your Financial Goals for the New Year

The New Year is upon us, and it’s time to set your financial goals! Why would you wait around on something so important? The problem is, most people want to achieve higher financial goals, but they don’t truly understand how to set goals and furthermore how to reach them.

Perhaps you’ve set goals before, and they haven’t worked out, so you were discouraged. This time, to be successful, you must act on a plan. It’s time!

Before you start working on your financial goals plan, there are some questions you must ask yourself. Be honest with yourself about the things that are important to you.

Questions you need to ask yourself in setting your financial goal:

• What do I want to attain financially?
• Why is important for me to be financially secure?
• Do I want to be comfortable or do I want to become wealthy?

Getting started requires two action steps; first, you need to determine your general financial goal and, second, you have to become financially literate so that you can learn to think like the wealthy.

Do you really want to be wealthy? The answer to this question is important because it will determine your efforts toward creating wealth. Bear in mind that a “goal' is different from a “wish”. You may wish to be wealthy, but that doesn't mean you've taken any practical steps to make that wish come true. Having the “desire” to become wealthy is what you will need to achieve your financial goal.

Wishful thinking is merely a want, desire, on the other hand, is a extremely potent. Desire is a supreme motivator that literally creates a driving force. The truth about most people who claim to want success is that they actually do not desire success, what they desire is comfort and security.

In the famous and bestselling book, Think and Grow Rich, author Napoleon Hill, outlines 13 Success Principles.

The 13 Success Principles are:

1.            Desire

2.            Faith

3.            Auto-Suggestion

4.            Specialized Knowledge

5.            Imagination

6.            Organized Planning

7.            Decision

8.            Persistence

9.            The Master Mind

10.          Transmutation

11.          The Subconscious Mind

12.          The Brain

13.          The Sixth Sense

Napoleon Hill’s success principles are as relevant today as they were a century ago. In his book, Hill teaches you to think differently, and it is a must read for anyone wanting to become rich.

Would you like a free copy of the book, Think and Grow Rich? This book has created more millionaires than any other book or program ever produced. You can get a free copy just by clicking this link: Think and Grow Rich

If you've already earned enough money to start saving, then likely it has been invested with an eye toward security – since, perhaps, you can't imagine yourself ever truly becoming wealthy.

In the book, Rich Dad Poor Dad, author Robert Kiyoksaki, discusses his “Rich Dad’s” teachings. He said most people dream of becoming wealthy, but it isn't their first choice. That's because the effort and uncertainty of becoming rich disturbs them and they seek refuge in the easier goals of security or comfort. 

People who make security and comfort their first and second choices are often seeking a single 'hot investment tip' – a simple, risk-free way of getting rich quick. Some people do get rich on one lucky investment, but all too frequently the money they amass is later lost. You can get a copy of Rich Dad Poor Dad here: Rich Dad Poor Dad

While many books have been written on the subject of becoming rich, this text is not intended to be a complete novel. What it is intended to do is motivate you to take action, NOW! 

I’ve outlined a few simple steps on how to set and reach your financial goals. Your decision and discipline will determine your success. Remember, a quitter never wins and a winner never quits.

How To Set Your Financial Goal in 7 Steps

Step 1: What is Your Financial Goal? (Be specific)

Step 2: Why is it Important to Achieve Your Goal? (Be honest)

Step 3: Set a Deadline to Achieve Your Goal (Break it down)

Step 4: Identify Your Obstacles (Recognize you will have challenges)

Step 5: Identify Your Allies (Who/What can help you achieve your goal?)

Step 6: Develop Your Financial Plan (Simply write it down)

Step 7: Maintain a Journal or Record (Track your activity)

Now that you’ve set your financial goal it’s time to take action. ACTION IS THE MOST IMPORTANT STEP. You will likely find that you, like most people, are a creature of habits. And, your habits determine your direction in life. If you want to achieve success with any goal, you will have to form positive habits. 

Habits typically take about 2 weeks of consistent effort to be formed. After that they become a natural effort. In the beginning you may have to force yourself to do the things you need to do to achieve your goal.

You must follow a process to get the desired result. Break down your larger goal into smaller goals. Reward yourself along the way when you reach your short-term goals.

Focus on what it is you want to achieve. Remind yourself on a regular basis why it is important for you to accomplish this goal. This means that you may have to post reminders or set alarms. You will want to find ways to interrupt any negative patterns that will keep you from reaching your goal and replace them with positive patterns. The best way to do this is by changing your thoughts and by associating with others who are goal oriented.

Your attitude will determine your success in achieving your goal. Regardless of where you are financially right now, you can improve your life. Fill your mind with positive thoughts by reading positive books and turning off the negative news. When you view life with a positive mental attitude you are leaps and bounds ahead of the rest.

Get started today on your financial goals, contact us for a no obligation Financial Review.

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

Barry Page, RFC 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.

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. 

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 

Emergency Financial Planning – Are you ready for what’s next?

Are you planning for an emergency financial situation? Will you prosper or get plundered in the future?

You already have access to the news and you can choose to read, watch or listen to whatever you want to. There’s good news and bad news in most every story, but how do you decipher the good from the bad? And, who do you trust?

The reason that I share this information with you is expose you to different viewpoints that you may not have access to in the mass media, and to allow you to educate yourself on the facts. As my friend and author Nelson Nash says, “If you know the facts, you’ll know what to do.”

So, you think your money is safe in the bank? Here’s a list of troubled banks from Martin Weiss, chairman of Weiss Ratings. They are rated A-F, just like in school.

What would happen if these banks failed? Loans would no longer be available, fear would prevail, and if your bank failed you could lose interest and access to cash.

You may ask yourself, “How are these banks in trouble when we’ve bailed them out, and the Federal Reserve is loaning them money at practically zero-cost?” A number of reasons actually, including greed, overspending and bad loans.

Delinquency rates are increasing and commercial loans are starting to falter. Some in Congress are already asking for more bailout funds. Another massive refinancing program may be enacted soon. http://www.financialstability.gov/latest/pr_05212010.html

Adding to the problems, the Fed has not only already flooded the U.S. economy with upwards of nearly $2 trillion in newly printed money, they have promised to help bailout Europe... With no end in sight as to how much monopoly money the Fed will print, each and every dollar printed is adding to an unlimited supply of fiat currency.

Will the central banks ever tighten monetary policy again? Chances are slim, they are content merely printing money and causing your dollars to lose value through inflation. Thus cash and long-term bonds, traditionally safehavens, may no longer a good place to hold money.

Equities are more volatile than ever, and the markets are in turmoil. Now financial gurus from the mega-media houses are touting that you buy gold and precious metals to combat inflation… and to get rich?

In turn, speculators are buying gold faster than they can mine it. Analysts are forecasting a 27% rally that would extend the longest run of annual gains since the 1920’s. Gold managers are capitalizing on the anxiety and fear… Have you noticed how many advertisements there are telling you to invest in gold?

Ask yourself, how do you make money with gold? Like anything else right? Buy low, sell high… This is almost laughable, since the common man has not a clue about how to do this. Commissions going in or out can average as much as 18%, so you are down 36% before you even make a dime. Do you buy bullion? coins? ETFs??? And... very few even consider taxes.

We are no longer on the gold standard, what happens when and if another standard comes along? Right now the Federal Reserve is printing money at will, so gold no longer backs your dollars.

How do you spend gold? What do you do with 16oz of gold? Assuming you had $20,000 to buy gold in the first place… What if the government confiscates gold? They have before.

Don’t hear me wrong, I’m not saying gold is a bad investment. But… Just like anything else you have no business investing in gold until you have done your research.

With interest rates being low, the government is punishing savers. The financial institutions want you to buy the latest, greatest products, and most advisors are telling you that now is the time to buy. You are also being told to invest on your own and trade online... How is that working out?

Most American’s lost money in the greatest bull market of all time in the 90’s, even with managed money. And, those who thought they made money have lost it since. How do you realize a gain in the market? You have to buy and sell at the right time.

Certainly you can make profits if your timing is right… But that’s a big “IF”.

Do you think we are at the bottom? Do I have to remind you that less than a year ago the Dow was below 7,000? Other analysts and experts are saying we could see another correction soon… plunging the Dow to 5,000! Take a look at the last 10 years of the Dow.

All the while the government and many bond managers are suggesting that you buy bonds for safety and Treasury Inflation Protected Securities (TIPS), others warn this could be a problem as well.

Social Security is beginning to deteriorate and benefit payments are starting to outpace tax receipts. Baby boomers are retiring, putting more strain on Medicare and Social Security. State governments are borrowing money from the federal government to pay for unemployment and entitlement programs.

A more prudent plan may be to step back, learn from history, analyze our problems and make informed, educated decisions.

Okay, enough bad news. So, what can you do? How can you protect your money from loss, earn a decent return, and not get clobbered by taxes and inflation? The answer is simple really, and it’s nothing new… You may think that today’s economic problems are different from those of the past, but they really are not. Money is the same today as it has been for 2,500 years.

The Problems

• Excess Consumption
• Excess Spending 
• Excess Investments 
• Excess Cash
  

The Solutions

• Stop Overspending
• Control Consumption
• Maintain Emergency Reserves
• Make Safe and Prudent Investments

As is often the case, we need to get back to the basics. In his book, The Richest Man in Babylon, George S. Clason outlines financial principles that have survived for centuries.

Here’s my short and updated version.

5 Simple Steps for Preserving and Creating Wealth

1. Pay yourself first

2. Save a minimum of 10%, preferrably 20%

3. Write down your expenses and buy only those things that are necessary

4. Put your money in safe and liquid assets that appreciate in value

5. Insure your income for the future

 
Questions to Ask Yourself Before Moving Your Money 

1. If interest rates on CD’s and money markets are less than 2%, and inflatin is 3%, why would you put your money there?
2. If the market is volatile and you can lose your hard earned cash, why would you invest your money there?
3. If bonds and gold are no more predictable than other commodities, why would you put money there?
4. If the Government has control, and can change the rules for your IRA, why would you invest there?

Where should you put your money? It’s not a bad idea to own some or all of the above mentioned financial vehicles, but ONLY after you have protected yourself from loss, created an emergency plan and have excess capital to invest.

Now that you have the basics, there is another advanced concept that you may want to learn. The Infinite Banking Concept™ recognizes that we have a need for finance throughout our lifetime. By utilizing this concept, and the power of dividend-paying whole-life insurance, you can recapture the interest that you are now paying to banks and financial institutions. Anytime you can eliminate interest that you pay to others, and direct that same market rate of interest to an entity you own and control, you will have improved your capacity to create wealth. Other benefits may include tax advantages, risk reduction, protection from creditors, disability and death protection.  

In order to make money like the banks do, you need to think like they do… You need to learn and understand banking. You probably already know how to make money with your labors, you just need to understand how your money is flowing and capitalize your own system.

If you do your research you will learn that life insurance has been around for hundreds of years, before the IRS and before the Federal Reserve. Life insurance companies, unlike other businesses, are looking further down the road than the next 5 or 10 years. They are planning for a minimum of 100 years. They have survived depressions, bailouts and crashes.

Mutual life insurance companies are predictable and most have been consistently paying a dividend to policyholders for more than 100 years. Whole life insurance gets BETTER over time. Every policyholder gets the benefit of the same crediting rate, regardless if you buy this year or if you bought it 20 years ago. But, beware of imposters. Universal life, variable life and indexed universal life policies, primarily sold by stock based insurance companies, do not have the same crediting rates, and can have other hazards.

You can take the first steps to securing your financial future today.

Find yourself an agent that practices Infinite Banking: http://infinitebanking.org/links/usagents.php

Read the book, Becoming Your Own Banker™, and do your research, you’ll be glad you did.

Until next time,
Barry Page, RFC
Infinite Banking Think Tank Member
http://www.legacyinsuranceagency.com/

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