SuperMoney Interviews Personal Finance Expert Pamela Yellen on Savings and Investing Strategies

Pamela Yellen, Founder of Bank On Yourself

Pamela Yellen, Founder of Bank On Yourself

I was recently interviewed by SuperMoney, a website that rates various financial products and the companies that provide them.

In this wide-ranging interview, I answered questions like these:

Why did you decide to start Bank On Yourself?

I reveal the frustrations my husband and I experienced following the conventional wisdom about investing and retirement planning. Maybe you can relate…

If someone were to say to you, “I don’t have the expertise to handle my finances. I’ll just hire some investment firm to deal with them,” how would you respond?

Here I discuss how and why 80% of all mutual funds, financial advisors and investment advisory services underperform the overall market. If the experts can’t even do it well, how can we regular folks be expected to?

Many financial experts have different opinions about the wisdom of whole life insurance as a financial instrument. What’s your take on this issue?

I discuss how a properly structured Bank On Yourself plan eliminates the concerns of traditional whole life insurance policies by making your cash value grow much faster while reducing the agent’s commission by up to 70%.

I also expose the incredible absurdity of the “buy term insurance and invest the difference” argument.

What suggestions do you have for people who want to save money for retirement?

The three tips I share here are simple, yet profound, and can make the difference between having financial peace of mind for life… and having to struggle to get by in retirement.

Why do you think so many people are retiring later and/or with less money than in past generations?

The definition of insanity is to continue doing the same things you’ve been doing, while expecting a different result.

Do you really want to spend the rest of your life worrying if the next market crash will wipe out 50% or more of your life savings – AGAIN?

My answer to this question also reveals why you can no longer safely entrust your savings to banks.

Do you have any advice for people who are hesitant to invest due to the market crash less than a decade ago?

I explain why you shouldn’t consider investing at all until you have an emergency cash reserve equal to two years of your household income.

It’s a secret to living a financially stress-free life.

So head on over to the SuperMoney blog and read my interview today.

And please let me know your thoughts in the comments box below.

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