Finance and investment expert and New York Times best-selling author, Martin Weiss, Ph.D., recently interviewed me. You can listen to this fast-paced and timely interview by just turning up your speakers and click here.
Dr. Weiss wrote the subscribers to his “Money and Markets” newsletter about how he had just read my book and felt it has excellent advice on “coping with low investment income in tough times.”
Remember the old jokes about what it would be like if Microsoft built cars?
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!
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.
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.
br> br> I plan to start another Bank On Yourself plan as soon as I can. Thanks for introducing me to this wonderful financial tool.”
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”
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:
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.”
The 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.
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!
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.