SANTA FE, NM – Officially, neither the U.S. government nor the retirement planning industry keeps count of how many American employees entrust others to decide for them how and where to invest their hard-earned retirement savings.
Nonetheless, there is evidence that the number of these so-called ‘zombie investors’ – those who shuffle forward without using their brains – may already exceed 15 million individuals and is on a sharp upward trajectory.
The march has been fueled by a Greek chorus of government regulators, Wall Street executives, financial planners and media commentators who regularly opine that only by delegating the task of retirement investment to others can individuals assure the optimal long-term preservation and appreciation of their nest eggs.
“Effective management of a retirement portfolio can be a challenging task, requiring significant knowledge and commitment of time,” cautions the Securities and Exchange Commission.
Thus the SEC and the Department of Labor have instructed employers to offer their workers a variety of defined contribution retirement plans, most commonly 401(k)s, “designed to make it easier for investors” to avoid the headaches and inherent risks of managing their own retirement monies.
Easier, indeed! But wiser and less risky? Often not
Such full-faith reliance on administrators and funds managers is propagating gargantuan portfolio losses that could billow to hundreds of billions of dollars during the lifetimes of the current generation of U.S. workers.
Already many Americans believe that by the time they retire the Social Security system will be bankrupt.
But what wage-earners have yet to comprehend is that many of the personal retirement accounts they are paying into annually at work will – regardless of how the markets perform over the coming decades – stealthfully bleed each employee of tens of thousands, even hundreds of thousands of dollars that could remain theirs
It was almost two years ago that Dan Proskauer – a Vice President of technology engineering for a major health care company who holds three U.S. patents – first heard of Bank On Yourself.
Dan lives below his means, has significant savings discipline, and is a sophisticated investor. But when the financial crisis hit, Dan realized he had nothing to show for decades of saving and investing his hard-earned money and “doing all the right things” we’ve been taught to do.
He felt angry, betrayed… and willing to open his mind and find out if there was something better out there.
Dan is very analytical and has since spent literally hundreds of hoursinvestigating Bank On Yourself. He has already started seven Bank On Yourself-type policies because, as he puts it, “the more I look into Bank On Yourself, the better it looks.”
Dan recently contacted me and generously offered to share his findings with you. Whether you already use Bank On Yourself, or you’ve been considering adding it to your financial plan, you’ll learn something of value from this interview. You can listen to the interview by pressing the play button below, or you can download the entire interview as an MP3 and listen on your own player or iPod…
Why Bank On Yourself will hold its own against things people worry about – including inflation, deflation and fluctuating interest rates
The two downsides to Bank On Yourself that Dan found
Why Dan believes it’s critical to use a Bank On Yourself Professional to set-up your policy… and how getting knowledgeable, on-going coaching and advice can result in your having far more wealth over your lifetime, while ensuring you don’t lose the tax advantages of Bank On Yourself
Why Dan – like hundreds of thousands of others who use the Bank On Yourself method – says the onlyregret he has is that he didn’t know about this sooner
Dan’s advice to anyone who’s still sitting on the fence and hasn’t started yet
The more I look into Bank On Yourself, the better it looks.”
– Dan Proskaur
The ultimate financial security blanket
If you haven’t started to Bank On Yourself yet, it’s free and there’s no-obligation to request an Analysis and find out what your bottom line numbers and results could be if you added Bank On Yourself to your financial plan.
When you request your Analysis, you’ll also get a referral to one of only 200 financial representatives in the country who have taken the rigorous training and meet the requirements to be a Bank On Yourself Professional, like the one Dan is working with.
Request your free Analysis now, so you can have the peace of mind that comes with knowingyour financial future will be one you can predict and count on!
We want your feedback! Tell us what below what YOU think of Dan’s interview below…
The Dow has dropped below 10,000 several times recently – a level it first reached more than eleven years ago and has since bounced over and back an astonishing 63 times!
Millions of people who were counting on their homes to help fund their retirement now have no equity to count on, because they owe more than their homes are worth.
Credit is still extremely tight for both businesses and consumers, underscoring just how little control we have when we have to rely on other people’s money.
As we face continuing economic challenges, many people are wondering… what does the future hold?
Ever hear the old saying, “Change is the only constant?” Today that is clearly true more than ever! Stephen Covey, author of the run-away best seller, Seven Habits of Highly Effective People, tells the following story:
A question we are getting frequently right now is how safe is your money in a Bank On Yourself plan if the debt crisis in Europe continues and spreads to the United States?
Let’s start by answering the question…
Life insurance companies are highly regulated and required to maintain sufficient reserves to ensure they can pay all future claims.
They are regularly audited by the state insurance commissioners’ offices, and sometimes by dozens of states, to ensure they are on solid financial ground. And a multi-layer safety net exists to assure your money in a life insurance policy is secure.
You may be wondering, “What about AIG?” Many people missed the fact that AIG’s problems were caused by a holding company, not its life insurance subsidiaries. Their insurance companies were walled off from the problems, have always been solvent and did not receive a bailout.
They enjoy some of the strongest surplus positions in the industry, approximately double the industry average.
These companies are, in essence, owned by policyowners, rather than stockholders, which allows them to focus on the long-term interests of policy holders, rather than the short-term demands of Wall Street.
Here’s what the companies used for Bank On Yourself invest in:
As I’ve mentioned, my husband Larry and I now have 18 Bank On Yourself policies. I’ve picked one of them to show you how a dividend-paying whole life policy like this can grow over time – even when the markets are plummeting. It’s a great example of how Bank On Yourself gives you the peace of mind that lets you sleep at night.
Here’s how much this plan has grown each year since the beginning of 2000, a period that includes not one, but TWO devastating market crashes. In four of these years, the S&P 500 was down for the year, as you can see in this side-by-side comparison:
If you had put $10,000 into an S&P 500 Index fund at the beginning of 2000, how much do you think it would be worth today?
If there’s a different financial product or strategy that you think can match or beat the Bank On Yourself method, I encourage you to take the $100,000 Challenge. If you’re right, you could pick up an easy $100K!
FAQ #2: How does Bank On Yourself let you recapture every penny you pay for major purchases like cars, vacations, business equipment or a college education?
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!