Personal Finance Blog for Retirement and Investment Advice

Government Motors?

Remember the old jokes about what it would be like if Microsoft built cars?

government-motors
government-motors

For no reason whatsoever, your car would crash twice a day… the airbag would say “are you sure?” before going off… executing a maneuver would occasionally cause your car to stop and fail to restart and you’d have to re-install the engine…

Now imagine what it’s going to be like when the government makes your car… coming soon to a dealership near you!

Bank On Yourself book hits major bestseller lists: Wall Street Journal, #1 USA Today, #1 Amazon

On The Air

The secret is out: Pamela Yellen’s first book on the Bank On Yourself concept is a major best seller, hitting #1 on the USA Today and Amazon best-seller lists, and is also a New York Times, Wall Street Journal and Publishers Weekly best seller.

On The Air

The book is flying off the shelves, and the publisher rushed to print more copies, which will soon flood all the major book sellers, as well as Target, Costco, Wal-Mart and other outlets to fill demand for the book. [Read more…] “Bank On Yourself book hits major bestseller lists: Wall Street Journal, #1 USA Today, #1 Amazon”

What would it be like to not even care what the stock market is doing?

Here’s a few of the comments I’ve recently received from folks who use Bank On Yourself to reach a wide range of financial goals and dreams.

The first comes from Devin Smith, a subscriber from Colorado who sells advertising (reprinted with his permission):

The Bank On Yourself program is fantastic! I received my first (annual) statement this month and couldn’t believe the growth in the policy is UP, not DOWN! And my policy has been in place during one of the worst stock market/financial meltdowns in history! I am absolutely sick when I receive my quarterly statements for my 401(k) – I’m down almost 50% in the past year.

I plan to start another Bank On Yourself plan as soon as I can. Thanks for introducing me to this wonderful financial tool.”

[Read more…] “What would it be like to not even care what the stock market is doing?”

Stock market investing myth exploded!

Do you believe it’s true that you have to risk your money in order to grow a sizable nest-egg?

If so, you’re not alone – that’s the conventional thinking we’ve long been brainwashed to believe. But a shocking new study reveals just how fundamentally flawed this belief is…

For the last 40 years, ordinary long-term treasury bonds have outpaced investing in the stock market! This is according to a just-released study in the Journal of Indexes (May/June 2009 issue) by Robert Arnott.

So, what does that mean?

It means that for the past four decades, the only “rewards” investors have received for taking the extra risk of stocks and equity mutual funds are sleepless nights and broken dreams of retirement”

Other revelations in the study include…

[Read more…] “Stock market investing myth exploded!”

Bank On Yourself featured on nationally syndicated TV

I was recently interviewed about Bank On Yourself on the nationally syndicated TV Show, Daytime.

Check it out – it’s only 4 minutes long. My friends have been known to call me “motor mouth”, and I can tell you that paring the message down to fit into a two-to-four minute time frame for the many TV and radio interviews I’ve been doing isn’t easy, but I’m getting better at it. Check it out here and let me know what you think:

Think you have to risk your money to get big returns? Hogwash!

According to a recent comment on this blog, I’m full of it. Apparently, the author thinks I pulled the following statement out of my butt…

The reality is that the typical mutual fund investor has actually been losing 1 percent per year over the last 20 years, after adjusting for inflation.”

InflationThe statistic comes from the respected research firm, Dalbar, Inc., in its 15th annual study of mutual fund investor behavior. The study measures the returns investors actually get, not the returns they wished they got.

According to Lou Harvey, the president of Dalbar, the study once again revealed that

“investor returns lag what performance reports and prospectuses would lead one to believe is achievable. While those returns are theoretically achievable, the reality is that investors are not rational, and make buy and sell decisions at the worst possible moments.”

Let me paint a picture of how this happens: Lets say you do what the author (who calls himself “David K.”) of the rather nasty blog comment suggests and buy “simple index funds” and hold them for twenty years.

[Read more…] “Think you have to risk your money to get big returns? Hogwash!”

What the financial gurus think they know about Bank On Yourself that just ain’t so

Dan Kennedy

One of my most influential mentors (Dan Kennedy) says,

If you don’t offend somebody by noon each day, you’re not doing much.”

So I want to thank Danny Snyder, whose post to this blog you’ll find below (exactly as he submitted it), for confirming that I am indeed doing something:

First of all using the words “money on steroids” immediatly [sic] puts you in the liar and non-trustworthy category. If you put in $5314.44 and your cash value is $2937.18 you need some ritilin, you are A.D.D. Dave Ramsey (who is in a category way above the likes of you and Suze Boreman) knows of what he speaks. Millions of people have changed their lives due to Dave’s advice. You need to tread very lightly, if you want to succeed and prove yourself. Think… before you tear down people you do not know. I do actually Bank on Myself.

Your [sic] a scam!

Danny Snyder

On this website, I have stated that I agree with many of the basic principles taught by the financial “gurus” like Dave Ramsey and Suze Orman.  And I know they have helped turn around the financial lives of many.

However, there are two critical areas we differ on…
[Read more…] “What the financial gurus think they know about Bank On Yourself that just ain’t so”

Dave Ramsey and Suze Orman on Whole Life Insurance: Let’s Debate!

UPDATED June 2019:  It’s been nearly a decade since I challenged Suze and Dave to a debate, but they haven’t taken me up on it yet.  This post sparked some very lively debate and insightful comments, so be sure to read those, too.

Suze Orman, Dave Ramsey and many other financial advice-givers tell you to avoid whole life insurance. However, the policies used for the Bank On Yourself method are dramatically different in three key ways from the kind of whole life insurance that Suze, Dave and others talk about. Here, I reveal these key differences and prove their validity by showing you examples of my own policy statements.

What’s more, my readers have alerted Suze and Dave. But sadly, both have chosen to ignore the facts I reveal below. I’m sure neither Suze nor Dave relish the idea of having to rewrite all their books and materials. But once YOU learn the critical key differences between Bank On Yourself policies and the ones Suze and Dave mention, I’m confident you’ll be asking the same question we hear Bank On Yourself policyholders mention repeatedly: “How come no one’s ever told me about this before!?”

Here are the three key differences:

Suze Orman & Dave Ramsey
Suze Orman & Dave Ramsey

Key difference imageKey Difference #1: These experts say the money you can have access to in the plan (your “cash value”) grows too slowly in a whole life policy, and say you typically won’t have any cash value at all in the first few years.

Suze Orman & Dave RamseySuze Orman & Dave Ramsey

A Bank On Yourself-type policy, however, incorporates a special – and little-known – rider or option that turbo-charges the growth of your money in the policy so you have up to 40 times more cash value, especially in the early years of the policy. This allows you to use it as a powerful financial management tool from Day One.

Don’t take our word for it – here’s a statement from a Bank On Yourself-designed dividend-paying whole life policy, at the end of just one year.

And here’s an article that reveals the rate of return of a properly designed Bank On Yourself type policy. It puts traditional investments to shame, and it does that without the risk or volatility of stocks, real estate, gold, commodities and other investments.

But each plan is different, so to find out how much cash value you’ll have each year – guaranteed – request your FREE Analysis here.Request Your Analysis Button

Key difference image

Key Difference #2: Most financial experts, including Suze and Dave, talk about policies where your death benefit stays level for the life of the policy.

However, in a dividend-paying whole life policy, dividends can be left in the policy to purchase additional coverage, while at the same time growing your cash value in the most efficient way possible. This policy statement shows you how the death benefit keeps growing, and proves these policies are different from the ones Suze and Dave talk about.

Please note that this statement is from a policy I started before I learned about Bank On Yourself, and it has grown much more slowly than a policy designed to maximize the power of the Bank On Yourself concept.

Even so, this policy has left my mutual funds and real estate investments in the dust.

Key difference image

Key Difference #3: The financial experts often rant about how, when the policy owner dies, the insurance company “only” pays you the death benefit and keeps your cash value.

But with a Bank On Yourself policy it’s very different, as you can see on this policy statement. It shows you how, had I died on the date this statement was issued, my family would have received a check for more than the original death benefit AND the cash value in the policy combined!

So I am throwing out the gauntlet to Suze, Dave or any expert who wants to challenge me. Just name the time and place!”

And remember, Bank On Yourself will beat anyone’s best financial strategy or we’ll pay you $100,000!

No two policies are alike, because each one is tailored to the client’s unique situation. So your results will be different. To find out what your bottom-line numbers could be, and how much your financial picture could improve if you added Bank On Yourself to your financial plan, request a free Bank On Yourself Analysis. There’s no obligation.Request Your Analysis Button

Update! Our hidden video camera captured Suze Orman and Dave Ramsey discussing Bank On Yourself…

5FqBLNBsi50

If Bank On Yourself is so good, why isn’t everyone already doing it?

If you browse the personal finance section of any bookstore, turn on the TV or open a magazine on finance, you’ll discover that 99 out of 100 financial “gurus” will insist that whole life insurance is a lousy place to put your money. Most will recommend you buy term life insurance instead and invest the difference in mutual funds.

That’s in spite of the fact that, had you invested in an S&P 500 index fund for the past 13 years, you most likely have little to show for it other than a pile of pocket lint and a lot of sleepless nights. And that doesn’t even factor in 35% inflation during this period!

But I’m getting a little ahead of myself. Part of the problem is these financial experts know nothing about the specially designed type of dividend-paying whole life policy used for the Bank On Yourself method, as I’ve demonstrated above. [Read more…] “Dave Ramsey and Suze Orman on Whole Life Insurance: Let’s Debate!”

Stock Market Investors: Are Ya feelin’ lucky?

The major stock market indexes have fallen to levels not seen for 12 years – since 1997.stock_market_crash

Of course, inflation during that period has reduced the value of your dollars by at least 36%.

The reality is that most Americans have been digging themselves deeper into a financial hole every year, with no way of knowing how long it will take to crawl out.

[Read more…] “Stock Market Investors: Are Ya feelin’ lucky?”

Bank On Yourself receives endorsements from top experts in personal finance

My New York Times, Wall Street Journal, USA Today and Business Week best-selling book, Bank On Yourself, has been receiving some five-star endorsements from top experts in personal finance.

Check out what T. Harv Eker, #1 New York Times best-selling author of “The Millionaire Mind,” said:

t-harv-eker

If you’re looking for more of the same conventional financial advice, this isn’t the book for you. But if you’re prepared to take back control of your financial life once and for all, Bank on Yourself is a ground-breaking method that can put you on the fast track to reaching your goals and dreams.”

t-harv-eker

As Harv noted, Bank On Yourself really isn’t the same old financial advice people have been getting everywhere else. And that’s a good thing, don’t you think?

Because look where that’s gotten us – we’re deep in the midst of the greatest destruction of household wealth in history, with no quick fix in sight.

[Read more…] “Bank On Yourself receives endorsements from top experts in personal finance”