Bank On Yourself featured in AARP

Saving Your Nest Egg in Tough Times

Saving Your Nest Egg in Tough Times

Pamela Yellen was recently interviewed by AARP about the Bank On Yourself wealth-building method for an article on “Saving Your Nest Egg in Tough Times.”

Scroll down to the second paragraph below the “50/50, if you’re 50″ subhead to read the advice Pamela gave for investors age 50-65 who are fed up with watching their hard-earned nest-eggs shrink yet again.

What about investors over age 65?

Pamela also gave advice for investors between the ages of 66 and 85 who want to add more guarantees and predictability to their financial plan and bump up their returns without the risk of stocks and other investments.

Although there wasn’t space to include that advice in the AARP article, this is an increasingly popular option for Americans up through the age of 85.

This little-known option provides many advantages that annuities and CD’s do not have, including…

  • Provides guaranteed growth and a higher return
  • Exceptional flexibility and liquidity
  • Protection from estate taxes
  • Automatic long-term care coverage at no additional costs (in states where it’s available)

The Bank On Yourself Authorized Advisors are well-versed in this option and can conduct a free Analysis that will help you determine which plan is best for your unique situation.

If you’re not sure where you’ll find the funds to start a plan, don’t worry.  The Bank On Yourself Authorized Advisors are masters at helping their clients of any age restructure their finances to free up seed money to fund a plan that will help you reach as many of your long-term and short-term goals as possible – in the shortest time possible.

Remember – Wall Street already lost more than 45% of the typical investor’s savings TWICE in the last decade.  How would it affect you if this latest stock market rout is just the beginning of another look-out-below crash?

To find out how you can add predictability and guarantees to your financial plan and have the financial security and peace of mind that you want and deserve, request your FREE Analysis now.  You’ll be connected with one of only 200 financial advisors in the country who have met the rigorous training and requirements to be a Bank On Yourself Authorized Advisor.

The Recession is Over… If You’re On Wall Street

There have been a spate of articles in the financial media recently encouraging retirees to catch up on savings shortfalls by investing as much as 40-60% of their nest egg in the stock market.

These “experts” promote the concept as if it makes perfect sense to make up for your gambling losses by doubling your bets.Gambling On Wall Street

To me, it’s appalling that anyone would advise those who are already retired to gamble their life’s savings on the volatile, risk-filled world of Wall Street.

But my message – that Wall Street is unstable and potentially as explosive as nitroglycerin – is really not age specific. The stock market can (and will) blow up in your face at any age.

For most Americans – and Wall Street goes to great lengths to hide this truth – the stock market is a promise unmet.

The success myth hyped by the financial services industry is like a casino showcasing its big winners, without mentioning that the prize pool derives from the much larger pool of losers who generate huge profits for the operators, but who themselves walk away worse off than if they had stayed at home.

Money isn’t the only price that the Wall Street casino extracts from most investors

[Read more...]

Getting to Know Pamela Yellen, President of Bank On Yourself

In this candid conversation, Pamela Yellen really lets her hair down and reveals things about herself she’s never talked about before.

What kind of driver is Pamela?

What kind of driver is Pamela?

In this interview, you’ll learn…

  • Pamela’s early investing mistakes
  • How she first learned about the Bank On Yourself method of wealth building
  • How Walt Disney, J.C. Penney and other influential people have used this method
  • Why Banks use this to meet their Tier One (safe and liquid) Capital reserves requirement
  • Why Bank On Yourself Advisors earn much lower commissions than other forms of life insurance sales
  • Why this concept is not included on insurance licensing exams

    Pamela & her husband Larry

    Pamela & her husband Larry

  • Bank On Yourself “Inc.” doesn’t sell insurance or charge consumers anything…so how does it make money?
  • Introducing the Bank On Yourself Nation…soon to be the center of the universe when it comes to financial literacy education and learning to be self-reliant

So checkout this fast-paced interview now by pressing the play button below, or you can download the interview as an Mp3 and listen on your own player or iPod…

Play

And if you still have any unanswered questions about Bank On Yourself or Pamela Yellen, please tell us in the comments box below…

Grow your money safely and predictability even when the markets crash…

Wondering how the Bank On Yourself method can help you reach your financial goals and dreams in the shortest time possible… without the stomach-churning ups and downs of traditional investments?

Request a free, no-obligation Analysis now to find out. When you request your Analysis you’ll also get a referral to one of only 200 financial advisors in the country who have met all the rigorous requirements and training needed to be a Bank On Yourself Authorized Advisor.

Bank On Yourself Round-Up for week of July 13, 2011

Here are short summaries of three of the most interesting and thought-provoking items that have crossed my desk this week.  Enjoy… and tell us what you think!roundup

Would you be prepared if you suffered a 30% pay cut?

A shocking new report reveals that the average person’s pay levels off when they’re in their 40′s.  After that, about all you’ll be likely to count on will be cost-of-living adjustments to keep pace with inflation.

That will come as a real surprise to many people who assume their pay will continue to rise as they get older.

And if you lose your job while in your 50′s, you’re likely to remain jobless longer than when you were younger, according to the report.

Salary CutRead this sobering and well documented article from the Wall Street Journal.1

What’s your best self-defense?  When planning for retirement, assume the only salary increases you’ll get will be cost-of-living adjustments.  And identify a worse-case scenario – such as a 20% pay cut during your final ten years in the workforce – and try living on that income and putting the rest into savings.

[Read more...]

Bank On Yourself Round-Up for week of June 23, 2011

Here are short summaries of three of the most interesting and thought-provoking items that have crossed my desk this week.  Enjoy!roundup

What would it be like to retire on $260 a month?

Have you ever thought about what kind of lifestyle you would have if your retirement plan only threw off $260 a month?

It’s a question a lot of Americans are going to have to start asking themselves.

A shocking article appeared this week on SmartMoney.com 1 revealing how much money the typical person approaching retirement actually has saved in their 401(k) and/or IRA.  And it’s not a pretty picture…

What would it be like to retire on $260 a month?

A typical pre-retiree taking withdrawals the way most people actually do would only be able to take $260 a month.

Oh, yeah – the article didn’t even mention you gotta pay the taxes you deferred all those years on that money!

How much do you think is going to be left for food, housing, utilities, car expenses, medical expenses not covered by Medicare, etc.? You’ll be lucky if you can scrape by at all, let alone enjoy even the smallest of life’s luxuries.

Of course, maybe you’ll have Social Security and Medicare to rely on.  Or maybe not…
[Read more...]

How Everyone Can Love Paying Bills and Taxes: No, We’re Not Crazy!

A core tenet of the Bank on Yourself Nation is that money should always bring pleasure or satisfaction, never regret or guilt.overwhelmed by bills

For so many people, that principle seems unrealistic, especially considering how very hard it is most months just to stay afloat – paying for necessities such as groceries, medicines, utilities, transportation, insurance and the like.  Oh yes, let’s not forget the always hungry tax monster!

Seems to so many of us that our paychecks are swallowed whole by our obligations before we ever get the chance to even sample the flavor of having some accumulated cash in our pockets and bank accounts.

To which we can only respond… how wonderful!

Wonderful? Really? Paying Bills! And Taxes?”

Absolutely.

[Read more...]

Bank On Yourself Round-Up for Week of May 25, 2011

Here are summaries of four of the most interesting and thought-provoking items that have crossed my desk this week…roundup

Is a “look out below” stock market crash looming?

By some key measures it is – corporate profits have only commanded as large a share of national income twice before – in 1929 and 2006, and those years preceded the past century’s two worst  financial collapses.

Knowledge is power, so I encourage you to read this article on The Invisible Stock Bubble1 from SmartMoney.com.

Want to eliminate market risk from your financial plan?

It’s easier to do than you might think. Find out more about an asset class that has increased in value every single year for over 160 years.

Pamela Yellen interviewed on NPR:  Teach teens how to manage money

[Read more...]

The “5 P’s” of Successful Goal Setting

Your Path to Victory – At Long Last – Begins Here

Executive Summary:  Goal setting is a vital life skill that can be practiced year-round.  Most people don’t succeed on their first attempt.  Ironically, each setback increases the probability that the next try will come closer to the mark, if not directly hit the bulls-eye.

There are five basic tools that all goal setters should equip themselves with to increase their odds of success: Passion, Persistence, Planning, People and Positivity.5ps

It has been more than 120 days since New Year’s 2011 and by now many of us have long since given up on our various resolutions.  They were the best of intentions, but life and reality once again got in our way.

If you are one of the millions of lapsed goal setters, now is the perfect time to reboot.  Whether it’s cold and blustery outside or the trees are blooming and a warm breeze is blowing, the process of setting and reaching goals should be a year-round, all-weather, life skill.  No champagne required.

In fact, goal setting is one of life’s most important skills, given that very, very few of us are handed exactly what we want without ever having to ask and work for it.

In our busy lives, it requires determination and focus to take a “time out” and think about our ambitions and how we’re doing in pursuit of them.  Perhaps that’s why so many people try goal planning only once a year – at New Year’s – because the holiday season offers more down time to think about the Big Picture and our life’s direction.

Reading and taking action on these tips will take less than 10 minutes

[Read more...]

Top 16 Investing and Savings Myths

All the statements listed below are common financial myths.  Accepting any of them as fact could lead to costly financial missteps…

See how many of these common beliefs you already recognize as flawed and which ones you have yet to unmask.

Unmasked Myths

As you may discover, what we’ve been taught by mainstream money experts and well-intentioned friends and family isn’t always accurate.

The Myths:

  1. Over time, the stock market has consistently proven the best and most reliable investment vehicle for the vast majority of Americans
  2. Investors need to accept risk and volatility in order to generate meaningful profits
  3. Home ownership and appreciation is a reliable vehicle for protecting and growing your wealth
  4. 401(k)s make effective investment vehicles, if only because your employer matches your own contributions
  5. Your 401(k) plan administrator must be a licensed, professionally trained and carefully screened financial expert
  6. The fees you pay for your IRA, 401(k) and other retirement funds have only a trivial impact on your ultimate returns
  7. You will not require as much income when you retire as you need now, especially since you’ll qualify for a lower tax bracket
  8. It is never possible to know with any certainty the value of your retirement account at intervals down the road, because market fluctuations are unpredictable
  9. Wise retirement planners recommend you aim to make your retirement income last to age of the average American life expectancy, currently 77.9 years
  10. Always defer taxes as far into the future as possible, especially when you wish to accumulate a larger retirement nest egg
  11. People of modest income can’t possibly set aside $1 million or more for their retirement
  12. Before you can begin saving for the future, first you have to dig your way out of debt
  13. Paying cash is the ideal method of purchasing big-ticket items, such as cars and vacations
  14. Effective savings and investing strategies are too complex for amateurs.  Only professionally trained money managers consistently succeed
  15. If you follow the advice of mainstream financial experts and don’t stray, your nest egg will be safe and grow large over time
  16. To receive quality, personalized attention from highly trained financial advisors, you have to already be wealthy, or close to it

©2011 Hayward-Yellen 100 Ltd Partnership

Announcing the winners of the “what inspires you to save” contest!

Last week we held a contest about what inspires or motivates you to save money.  The response was overwhelming and with many so inspiring and heartfelt entries,  it was very difficult for our team to pick the six winners…

Contest WinnerAfter much deliberation, five members of the Bank On Yourself team each picked their favorite entry – each of these winners will receive their choice of a $25 dining gift certificate or a personally autographed copy of my best-selling book, Bank On Yourself, for themselves or to give as a gift to someone they care about.

And together, the team picked their favorite entry and that person won a $100 American Express Gift Certificate.  (All winners will soon be receiving an email letting them know how to claim their prizes.)

Read on to be inspired by the winning entries…

[Read more...]