7 Really Scary Facts about Your 401(k)
October 29, 2009 by Pamela Yellen · 12 Comments
Before you put another penny in a 401(k), find out what the government and your employer aren’t
telling you that will scare the living daylights out of you! Here are seven frightening facts you should
know about 401(k)s…
Frightening 401(k) Fact #1:
Your employer can – and probably is – making risky decisions on how to invest your money for you – without your knowledge or approval.
Many employers are now automatically directing more of your pay into your 401(k)… and automatically moving it into more risky investments – even if you had previously chosen your own investments!
And most of that money is being re-directed into “target-date” funds, which lost so much money last year, it sparked scrutiny from lawmakers and regulators. Many funds for people who pinned their hopes on retiring in one year had losses far exceeding 20%, and some funds suffered losses of 32 to 41 percent, according to Morningstar.
Shockingly, stock allocations among those funds were found to be 26 to 72% of assets!
Not to mention that the fees charged by target-date funds are “significantly higher than those charged by other funds on plans’ investment menus”.
(Source: “Companies take reins of workers’ 401k’s”, MoneyCentral.msn.com, October 10, 2009)
The growth in a Bank on Yourself policy is both guaranteed and exponential. You can predict the minimum guaranteed value of the plan, the minimum guaranteed income you can take from the policy, and for how long you could take it.
Frightening 401(k) Fact #2:
The important decisions about your 401(k) are made by someone with no training or education in most companies.
Pamela Yellen interviewed on Sky Radio
October 22, 2009 by admin · Leave a Comment
Sky Radio recently did a 3-minute interview with Pamela Yellen on Bank On Yourself, and why it’s a more dependable, worry-free approach to saving for the future than conventional methods.
The interview will play on all audio-equipped flights on Virgin America and US Airways early next year, but you can listen to a sneak preview of it here.
Pamela Yellen and Bank On Yourself will also be featured in January in a video series on “The Innovators” that will be broadcast in prime time on the CNN Airport Network in 44 of the busiest U.S. airports.
We’ll post a preview of that video here as soon as it’s ready.
Enjoy! And please tell us what you think…
Smartest financial move ever made?
October 15, 2009 by Pamela Yellen · 1 Comment
Recently, a senior editor of the respected personal finance publication, Kiplinger, described the best financial move he’s ever made:
My wisest move was buying whole life insurance in the 1990s, precisely when countless books and articles mocked whole life as obsolete. My wife, Debbie, did the same. In the ten-plus years that we’ve paid $5,000 a year combined into our policies, both from extremely sound mutual-insurance companies, we’ve built substantial five-figure cash values, can borrow from them instantly at virtually no cost and haven’t paid a cent of tax on the earnings.”*
Like most people who have Bank On Yourself plans, Jeff’s only regret is probably that he didn’t put more into the policies!
It’s a virtual certainty that Jeff and Debbie’s policies are traditional dividend-paying whole life policies, rather than the specially-designed, super-charged variation used for the Bank On Yourself method.
Had Jeff and Debbie’s policies been designed the Bank On Yourself way, they’d have significantly more cash value now.
As the Dow moved through the 10,000 mark this week, a dose of reality is in order…
Read more
Bank On Yourself featured in Chicago Sun Times
October 8, 2009 by admin · 1 Comment
The Chicago Sun Times recently spotlighted Bank On Yourself in a special supplement on “Money Management: Your Educational Guide to Achieve Personal Financial Stability.”
Click here to read the article
Pamela Yellen was one of a panel of four experts profiled in the supplement.
The article about Bank On Yourself was titled, “A New Approach to Personal Financial Security.”
After reading the article, if you want more details about what Bank On Yourself is and how it works, you can get Pamela Yellen’s free Special Report here… or get Pamela’s best-selling Bank On Yourself book at a 35% discount here.
Video Overview: Bank On Yourself in a Nutshell
October 2, 2009 by Pamela Yellen · 119 Comments
We just completed a short, fast-paced video explaining what Bank On Yourself is and how it works, that I think you’ll find very helpful.
Click on the play button to discover…
- How Bank On Yourself grows your savings both predictably and guaranteed… even when stocks, real estate and other investments tumble
- How it can beat the pants off your best saving or investing method
- How the kind of policy used for Bank On Yourself is different from the ones Suze Orman, Dave Ramsey and 99.9% of all financial advisors talk about
- Why it’s an excellent alternative to traditional retirement plans
- How you can use it to get back what you pay for major purchases
- Where to find the money to get started
After you watch the video, I’d love to hear your thoughts and feedback – so please speak your mind below.
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