Retirement Plan Unpredictability is a Major Wealth Killer

I have written at length about my research into the wealth-killing traps of 401(k)s, IRAs, 403(b)s, and Roth plans… and how to avoid them.

In this post, I’m going to talk about the trap of retirement plan unpredictability, and I’ll start by asking you a critical question:

Do you know what the value of your retirement account(s) will be on the day you plan to tap into them… and in 20 or 30 years?

If your answer to that question is “no,” then you don’t have a plan – you’re gambling.

Yet isn’t the money you’ve earmarked for retirement money you can’t afford to lose? On top of all of life’s stresses, do you really want to have to worry about when the next market crash could wipe out 50% or more of your life’s savings – as has happened twice just since the year 2000?

Market Volatility Has Proven to be a Cause of Health Problems and Even Early Death

Studies show that even relatively small stock declines are linked to early death. In fact, if you have just 10% of your wealth in the stock market and experience only a 10% loss, your risk of dying earlier or having a major health problem or depression increases significantly.

The Wealth-Killer Hiding in Half of All 401(k)s

If you have a 401(k), it’s very possible that your money is in a Target Date Fund (TDF) – even if you didn’t authorize or request it!

In fact, the latest available data shows that more than half of all 401(k) accounts had fully 100% of their assets in TDFs. That’s because most employers choose TDFs as the “default” investment – the one they automatically choose for you unless you specifically opt out of it.

So what’s wrong with Target Date Funds? They are mutual funds that – in theory anyway – shift from higher-risk to lower-risk investments as participants approach their retirement date. Yet, in practice, they have been a disaster!

During the Great Recession, investors in the largest TDF lost as much as 31% of their money, even though the Dow Jones Industrial Average lost only 1.6% during the same period!

And some TDFs designed for participants planning to retire in just two years lost considerable value – over 40% in one case, according to a report from the Government Accountability Office.

Can you imagine being just months from retirement, only to see your nest egg take a 40% hit?

These are just a few of the problems with government-controlled retirement plans that I’ve covered.

Listen to My Interview with the Wall Street Journal About the Dangers of Letting Your Employer Decide Where to Invest Your 401(k) Funds

The Time-Tested Strategy that Ensures Your Retirement Dreams Don’t Turn into a Nightmare

The money you put into a high cash value, low-commission, dividend-paying whole life policy and the growth you receive on it are locked in. You don’t go backwards when the market crashes.

The Bank On Yourself strategy bypasses the Wall Street Casino to grow your wealth safely and predictably every year – no matter what’s happening in the market or the economy. It’s never had a losing year in its 200+ year history!

Your policy is guaranteed to grow by a larger dollar amount each year – and it does so without your taking on more risk. You can even know in advance the guaranteed minimum value of your savings at any point in time – just request a FREE, no-obligation Analysis and Recommendations here.

In addition, the Bank On Yourself strategy comes with an unbeatable combination of advantages, including…

  • Liquidity and control of your savings – unlike a 401(k) or IRA, you can access your savings whenever and for whatever you want – no questions asked!
  • Your money grows tax-deferred and your withdrawals are tax free, which protects you from the coming tax tsunami
  • Your policy includes a death benefit that is typically many times your equity in the policy, which gives you the peace of mind of knowing your loved ones are protected… more than 1 in 500 people in the U.S. have already died of COVID – having enough life insurance has never been more critically important

No two policies are alike. Yours would be custom-tailored to your unique situation, goals and dreams. You can find out what your guaranteed bottom-line numbers and results could be if you added the Bank On Yourself strategy to your financial plan – before you decide if it makes sense for your situation.

To take the next step, request a free, no-obligation Analysis here now. You have nothing to lose and a world of financial peace of mind to gain.

And you’ll (finally) know the guaranteed minimum value of your policy on the day you plan to tap into it – and at any point in time. So take the next step now by clicking here:


Tax Deferral is a Scam and Here’s Proof

Tax deferral is a con, and I’m going to prove it to you.

Actually, I’m going to let you prove it to yourself, with this 5-second experiment.

The conventional wisdom says, “Maximize your contributions to tax-deferred plans, like 401(k)s, IRAs and 403(b)s. Your money compounds without being reduced by taxes, and you’ll end up with more money during retirement.”

But is it really true?

The Society of Actuaries says that if the tax rates are the same, “It doesn’t make any difference whether [the taxes] are taken away from you at the beginning (tax-exempt) or at the end (tax-deferred). It’s the same fraction of your money that is left to you.”

But most people look at their savings and think it’s all theirs. You may have forgotten you’ll owe the IRS the taxes you deferred all those years – on every penny you’ve put in and every penny of growth.

If the tax rates miraculously manage to be lower during your retirement, you might come out ahead by deferring your taxes. But where do you think tax rates are headed long term? You must consider what tax rates might be during a retirement that could last 30+ years.

Most people realize taxes ultimately must go up due to the aging demographics of our country and our unsustainable national debt, which now exceeds the size of our entire economy. And if tax rates do go up, and you’re successful in growing your nest-egg, you’ll simply end up paying higher taxes on a bigger number.

Don’t take our word for it! You can prove it to yourself in seconds!

We’ve created a calculator that will let you see for yourself which way you’ll come out ahead. Just fill in any starting amount, any tax rate, and any growth rate:

Should You Defer Your Taxes or Pay Them Up Front? Click Here to Find Out Which Way You’ll Come Out Ahead.

You Just Proved that the Idea that You’ll Come Out Ahead by Deferring your Taxes is a Complete Con!

That’s why the Center for Retirement Research says it’s a very big deal when people realize they only have two-thirds of what they thought they had in their tax-deferred 401(k) or IRA retirement account.

And that statement was made before government spending fueled by the pandemic pushed the national debt to exceed the size of the entire U.S. economy… with no end in sight.

The reality is that in the highly likely event that tax rates go up during your retirement, you could end up paying many times more in taxes than you would have if you’d simply paid your taxes upfront, while you know what they are.

It’s bad enough that Americans have most of their retirement savings in government-controlled 401(k)s, IRAs, 403(b)s and similar plans, which have more strings attached to them than a puppet! These plans give you no guarantees of how much money you’ll have when you’re ready to take withdrawals… and no way of knowing how much of those withdrawals you’ll have to fork over to the IRS!

But There Are LEGAL Ways to Protect Yourself from These Inevitably Higher Tax Rates…

The Bank On Yourself safe wealth-building strategy helps protect you from higher taxes and expenses in at least 6 ways:

  1. Unlike with a 401(k) or IRA, you can access both your principal and gains tax free under current tax law – in fact, the income you take isn’t even reported to the IRS. Imagine knowing what your tax rate will be throughout retirement – ZERO!
  2. This strategy is not considered an investment, and the income you take isn’t subject to capital gains taxes.
  3. You can use it to reduce the taxes you may have to pay on your Social Security income. It’s become common for people to owe taxes on up to 85% of their Social Security benefits. However, the income you take from Bank On Yourself is not included when the IRS determines whether (or how much) of your Social Security check is taxed.
  4. It won’t increase your Medicare premiums. The income you take from conventional retirement plans – like 401(k)s and IRAs – can increase your Medicare premiums by as much as 350%! However, the income you take from Bank On Yourself won’t cause your premiums to increase.
  5. The Bank On Yourself safe wealth-building strategy relies on a high cash value, low-commission, dividend-paying whole life insurance policy, and comes with an increasing death benefit that passes to your loved ones income-tax free. This gives you priceless peace of mind.
  6. Many Bank On Yourself-type policies allow you to access a significant portion of your policy’s death benefit during your lifetime to pay for chronic or terminal illnesses or even to cover the cost of care in your own home if you prefer.

If You Want to Shield Yourself from Higher Taxes, It’s Critically Important You Take Action TODAY

Find out how you can shield yourself from taxes that can only go higher, grow your nest egg safely and predictably every single year, and enjoy liquidity, flexibility and control of your money.

Request a free, no-obligation Analysis here now. You’ll get a referral to one of only 200 financial representatives in the U.S. and Canada who have met the rigorous requirements to qualify to use the title of Bank On Yourself Professional. They can answer any questions you may have and show you the bottom-line guaranteed results you could get by adding the Bank On Yourself strategy to your financial plan.

They can also show you ways to find the money to fund your strategy, strategies for rolling over a 401(k) or IRA without owing penalties, and more.

Don’t volunteer to be a victim of the confiscatory tax rates that are coming. Click this button to get started:


When Does Taxation Become Theft?

In his first 100 days in office, President Biden unveiled three colossal spending packages earning him the nickname, “The Six Trillion Dollar Man.”

Biden and Congress are just getting started with the most massive expansion of government since FDR’s New Deal during the Great Depression. Apparently, it’s desperately needed, even though the pandemic-caused recession is over.

This is a government that is notorious for wasting hundreds of billions of our hard-earned dollars every year. Think $518,000 to study how cocaine affects the mating habits of Japanese quails, $998,798 to ship two 19-cent washers from one state to another… and the list goes on. You couldn’t make this stuff up if you tried!

And let’s not forget this is a government with a long history of not being able to make much of a dent in controlling fraud and abuse. The government admits that more than $134 billion of improper Medicare and Medicaid payments were made in 2020 alone – and that’s just one government agency.

Not to mention this is a government that is so horribly inefficient that some Americans in dire need of help had to wait months to receive their COVID stimulus checks and/or unemployment benefits.

But I digress from the main point of my rant, which is how they’re going to tax us to smithereens to pay for all of this… and the trillions of dollars more of spending that are sure to follow.

Paying for This Unsustainable Spending Requires Confiscatory Tax Increases…

Of course, there would be a revolt if the government just came out and admitted we’re all going to be taxed to death. So they try to soften the blow with the lie that the money to pay for all of this will come mostly from raising taxes on corporations and the wealthy (along with lots more IRS audits).

But that won’t even come close to paying for all of this. And the crushing tax increases that have already been proposed will affect a wide swath of Americans. These proposed tax increases include:

  • Increasing the capital gains tax rates you pay on your investments
  • Increasing taxes on owners of so-called pass-through businesses (which account for the majority of small business owners), that could devastate them
  • Raising the corporate tax rates
  • Eliminating the Trump tax cuts

And if that doesn’t raise enough money, they’ve also considered adding payroll taxes that would affect everyone who receives a paycheck.

I feel sorry for our kids and even sorrier for our grandkids who are just entering college and who will be paying for this for generations to come.

But There Are LEGAL Ways to Protect Yourself from These Inevitably Higher Tax Rates…

The Bank On Yourself safe wealth-building strategy helps protect you from higher taxes and expenses in at least 6 ways:

  1. Unlike with a 401(k) or IRA, you can access both your principal and gains tax free under current tax law – in fact, the income you take isn’t even reported to the IRS. Imagine knowing what your tax rate will be throughout retirement – ZERO!
  2. Because of the many guarantees this asset class enjoys (it’s never had a losing year in its more than 160-year-plus history), it is not considered an investment, and the income you take isn’t subject to capital gains taxes.
  3. You can use it to reduce the taxes you may have to pay on your Social Security income. It’s common for even middle-income folks to owe taxes on up to 85% of their Social Security benefit. However, the income you take from Bank On Yourself is not included when the IRS determines whether (or how much) of your Social Security check is taxed.
  4. It won’t increase your Medicare premiums. Did you know the income you take from conventional retirement plans – like 401(k)s and IRAs – can increase your Medicare premiums by as much as 350%? However, the income you take from Bank On Yourself won’t cause you to pay higher premiums.
  5. Since the Bank On Yourself safe wealth-building strategy relies on a high cash value, low-commission, dividend-paying whole life insurance policy, it comes with an increasing death benefit that passes to your loved ones income-tax free. This gives you priceless peace of mind.
  6. Many Bank On Yourself-type policies allow you to access a significant portion of your policy’s death benefit during your lifetime to pay for chronic or terminal illnesses or even to cover the cost of care in your own home if you prefer.

If You Want to Shield Yourself from Higher Taxes, It’s Critically Important You Take Action TODAY

Find out how you can shield yourself from taxes that can only go higher, grow your nest egg safely and predictably every single year, and enjoy liquidity, flexibility and control of your money.

Request a free, no-obligation Analysis here now. You’ll get a referral to one of only 200 financial representatives in the U.S. and Canada who have met the rigorous requirements to qualify to use the title of Bank On Yourself Professional. They can answer any questions you may have and show you the bottom-line guaranteed results you could get by adding the Bank On Yourself strategy to your financial plan.

They can also show you ways to find the money to fund your strategy, strategies for rolling over a 401(k) or IRA without owing penalties, and more.

Don’t volunteer to be a victim of the confiscatory tax rates that are coming. Click this button to get started:


6 Ways to Protect Yourself from Taxmageddon

Updated April, 2021

Federal debt now exceeds the size of the entire U.S. economy. And it’s growing at a rate that will make your head spin, as a quick glance at the U.S. Debt Clock reveals:


The Congressional Budget Office (CBO) says this deserves attention because…

Americans will be paying for this for decades.”

Passing the $1.9 trillion COVID relief bill was just for openers.

Now President Biden is planning the first major federal tax hike in nearly 3 decades to pay for an even bigger initiative. There’s more in the works, too, to fund everything from infrastructure, climate initiatives, and programs for poorer Americans… to canceling student loan debt (which alone would add hundreds of billions of dollars to our already-skyrocketing national debt).

Which Means that Higher Taxes are Inevitable and You Must Take Action TODAY to Protect Yourself from Taxmageddon!

There are little-known, but legal ways to protect yourself from this tax tsunami, under current tax law. This article explains what you need to do today to shield yourself from some very unpleasant tax surprises down the road.

(Download a FREE Special Report that Reveals How to Bypass Banks and Wall Street, Gain Control of Your Money and Shield Yourself from Taxmageddon)

Biden wants to deliver on his promises to increase numerous taxes, including…

  • Eliminate the Trump tax cuts
  • As much as double the capital gains tax rates on your investments
  • Raise the corporate tax rate by 33%
  • Reduce tax advantages for so-called “pass-through” businesses, which would impact most small businesses, professionals and sole proprietors

They want money for Internal Revenue Service enforcement – which means more IRS audits are likely coming your way, too.

The Secretary of the Treasury, Janet Yellen (no relation to me), says the administration will be looking at “ways to fund other projects and priorities.”

And the reality is that they can’t possibly raise enough revenue taxing just the “wealthy.”

Did you know that if you made $69,007 or more in 2017, you’re in the top 25% of wage earners? And if you made $118,400 or more, you’re in the top 10%.

As nice as it may sound to be in the top 10% or even the top 25%, it also means you’ve got a giant target on your back when the government is looking for more revenue to cover its obligations.

Here Are 6 Ways Adding the Bank On Yourself Strategy to Your Financial Plan Can Shield You from Higher Taxes and Expenses:

1. You can access both your principal and gains tax free under current law – in fact, the income you take isn’t even reported to the IRS

If you’re saving in a tax-deferred, government-controlled retirement account like a 401(k), 403(b), IRA, etc., when the tax man comes calling, he won’t ask you what your tax liability would have been if you’d been paying taxes all along. He’ll tell you what your tax liability is at the time your taxes are due… on every penny you put in plus all the growth you’ve received.

People tend to forget about that, according to the Center for Retirement, which says, “it’s a very big deal when people realize they have [so much less money] than they thought they had [in their tax-deferred accounts].

With a Bank On Yourself plan, you pay your taxes up front and then can legally pay ZERO taxes on the retirement income you take, which lets you avoid nasty tax surprises.

(Download a FREE Special Report that Reveals How to Bypass Banks and Wall Street, Gain Control of Your Money and Shield Yourself from Taxmageddon)

2. The income you take isn‘t subject to capital gains taxes

You pay capital gains taxes on the growth in value of investments incurred when you sell them.

However, the Bank On Yourself strategy isn’t considered to be an investment, because it’s guaranteed not to lose money.

3. Reduces the taxes you may have to pay on your Social Security income

It’s fairly common, even if you’re a middle-income earner, to owe taxes on up to 85% of your Social Security benefit. However, the income you take from Bank On Yourself is not included when the IRS determines whether (or how much) of your Social Security check is taxed.

Get Your FREE Report!

Get instant access to the FREE 18-page Special Report that reveals how to bypass banks and Wall Street, protect yourself from taxmageddon, and take back control of your financial future.

4. Can reduce your Medicare premiums

Did you know the income you take from conventional retirement plans – like 401(k)s and IRAs – can increase your Medicare premiums by as much as 350%? However, the income you take from Bank On Yourself won’t cause you to pay higher premiums.

5. Income tax-free money for your loved ones when you pass away

Since the Bank On Yourself safe wealth-building strategy relies on a high cash value, low-commission, dividend-paying whole life insurance policy, it comes with an increasing death benefit that passes to your loved ones income-tax free. (The death benefit of many of our family’s policies has already doubled or tripled or more.)

6. Tax-free cash to pay for long term care, nursing home care and home health care

Many Bank On Yourself-type policies allow you to access a significant portion of your policy’s death benefit during your lifetime to pay for chronic or terminal illnesses. Imagine the peace of mind you’d have knowing you could have hundreds of thousands of dollars available to you to cover these costs and provide for care in your own home if you wanted that!

BONUS! Your Money in a Bank On Yourself Policy is Guaranteed to Grow by a Predictable Amount Every Year, and You Don’t Go Backwards When the Market Tanks

You’re bypassing Wall Street and banking institutions. You get access to your money whenever and for whatever you want – no questions asked! (Try doing that with your 401(k) or IRA.)

But It’s Critically Important You Take Action TODAY

Find out how you can grow your nest egg safely and predictably every single year, shield yourself from taxes that can only go higher, and enjoy liquidity, flexibility and control of your money.

Request a free, no-obligation Analysis here now. You’ll get a referral to one of only 200 financial representatives in the U.S. and Canada who have met the rigorous requirements to qualify to be designated as a Bank On Yourself Professional. They can answer any questions you may have and show you the bottom-line guaranteed results you could get by adding the Bank On Yourself strategy to your financial plan.

They can also show you ways to find the money to fund your strategy, strategies for rolling over a 401(k) or IRA without owing penalties, and more.

Don’t wait even one more day – click this button to get started:


How to Trade In Your 401(k) for an Increasing Guaranteed Income for Life

Jason is 53 years old and just changed jobs. He’s facing two retirement planning dilemmas…

  1. He has $830,000 in his 401(k) from his previous job and wants to move it where it gives him more guarantees that he and his wife, Julie, won’t outlive their money in retirement.
  2. He had been putting $19,000 a year into his old 401(k) and wants to continue socking away that much. But in the last couple of years he experienced several downsides to 401(k)s that have soured him on the idea of continuing down that path.

The Five 401(k) Drawbacks Jason Discovered…

Drawback #1: When the pandemic hit, Jason’s employer stopped doing any matching contributions, which had been a big incentive for him. He’d forgotten the employer match isn’t guaranteed.

Drawback #2: As Jason gets closer to retiring, he has much less of an appetite for risk and volatility. What if the market crashes again shortly before he plans to retire in 14 years at age 67?

He’d been saving diligently in a 401(k) for 29 years already, and his average annual return had been less than 6%! Sheesh! All those sleepless nights and heart-stopping crashes… for less than 6% a year?!? He wondered if a monkey throwing darts couldn’t have done better than that…

Drawback #3: Jason had done a little digging into the investments in his 401(k) and made some shocking discoveries! All of his money was in a single Target Date Fund (TDF) because the plan administrator had set that fund as the “default” investment. (That’s where most employers now automatically put your money unless you specifically tell them otherwise, but studies show most employees never even think about doing something different!)

The TDF he was in was one of the largest and most popular… but he discovered the fees it charges would devour more than 20% of his hard-earned money over 30 years. Ouch! To rub salt into the wound, he also discovered that fund had experienced much steeper losses than the overall market during past crashes.

Drawback #4: A couple years ago, Jason had a terrific opportunity to invest in real estate. He knew the return could potentially beat his mutual fund by a country mile.

So he asked the HR Department about taking a 401(k) loan… and that’s when he realized how little control he had over his own money in his 401(k)! Turns out the government and your employer control that money. It was like putting his money in prison!

Jason quickly discovered there was a very low limit on how much he could borrow and strict limits on when and how he must pay it back or face penalties and taxes. And the 401(k) loan application process had 13 steps!

Drawback #5: Like most people, Jason had been told that being able to defer your taxes until you take withdrawals was one of the best reasons to contribute to a tax-deferred account like a 401(k) or IRA.

But recently his father had been grumbling about how, at age 74, he was now in the highest tax bracket of his life.

After a little digging, Jason discovered that if tax rates are higher during your retirement years, you’re going to end up paying significantly more in taxes overall. And he knew there was only one direction taxes would be going over the next 30 years, and that’s UP!

Jason was beyond frustrated. Fortunately, it was then that a coworker referred him to Tim, his Bank On Yourself Professional. Tim looked at Jason and Julie’s situation and goals and proposed…

The Two-Step Solution to All of their Challenges…

Step 1: Ensure Guaranteed Lifetime Income by Doing a Tax-Free Rollover of His 401(k) into an IRA Annuity

This could enable Jason and Julie to start receiving $85,786 a year starting at age 67, and by age 80 – thanks to the “Increasing Income Rider” Tim included – they could receive $161,995 a year. And the size of their check could increase year-over-year and continue coming for the rest of their lives – even if one or both of them live to be 120 years old! With no market risk involved!

This gives Jason and Julie a permission slip to spend every single dime they receive from the annuity because they know they’ll get another check the next month and every month – forever – just like the company pensions that are now rarer than the northern hairy wombat.

Since none of us knows when we’ll die, this little-known, powerful retirement planning solution lets you live out the rest of your life without the stress or worry that you’ll run out of money before you run out of life.

Step 2: Redirect Future 401(k) Contributions to Enjoy Multiple Benefits and Tax Advantages

Rather than funding a 401(k) at his new job, Jason puts the same $19,000 a year he was funding a 401(k) with into a high-cash value, dividend-paying Bank On Yourself whole life policy from ages 53 to 67.

The result is that when he’s 67, the policy could have a death benefit of over $900,000 that would go to Julie income-tax free if he should pass away then, ensuring that Julie would have money to cover health care, long-term care and nursing-home costs if needed.

If Jason lives beyond 67, he could have an additional $260,000 or so he could take – tax-free – to supplement his retirement income. And he can access that money for whatever he wants with no questions asked.

BONUS: Tim showed Jason how – at age 67 – he could use up to $460,000 of the death benefit of his policy to cover the cost of care if he developed any number of debilitating or disabling chronic illnesses or a terminal illness.

The pandemic had exposed the dangers of nursing homes, and Jason felt reassured that he could use this money to be cared for in his own home if he chose.

When Jason heard this, he exclaimed, “Wait a minute! Are you saying I can use a big chunk of the death benefit while I’m still alive to pay for health-care costs?!? I thought I had to die for Julie to receive the death benefit. How come no one ever told me about this before?”

Tim smiled. He wished he had a dollar for every time someone had said that to him, thanks to all the myths and misconceptions abounding about whole life insurance.

Jason and Julie are real Bank On Yourself clients – only their names have been changed to protect their privacy.

Whatever Your Financial and Retirement Concerns Are, a Bank On Yourself Professional May be Able to Provide Solutions

No two plans or solutions are alike because each one is custom tailored. There is no cost or obligation to speak to a Bank On Yourself Professional and receive a free Analysis. So why not request your Analysis TODAY, while it’s fresh on your mind?

You have nothing to lose and a world of financial peace of mind to gain. So click this button now:


A Surprising Solution to the 15-Year vs 30-Year Mortgage Dilemma

Jon and Jen have an opportunity to buy their dream home and lock in a historically low interest rate. This is a pretty common scenario in today’s market. In fact, you may be thinking about buying a home or refinancing your mortgage to take advantage of today’s low rates. If so, here’s a powerful option to consider…

Jon and Jen are trying to decide whether a 30-year mortgage or a 15-year mortgage makes the most sense. Their mortgage broker showed them that even with an interest rate just 0.65% lower, the 15-year mortgage would save them almost two-thirds of the interest of a 30-year loan.

They decided the 15-year mortgage made the most sense. Their thinking was, “We’re both 48 now, and we plan to work until we’re 70. The sooner we get the house paid off, the sooner we can save more for the future. Plus, we really like the idea of saving almost $90,000 in interest.” [Read more…] “A Surprising Solution to the 15-Year vs 30-Year Mortgage Dilemma”

How to Never Run Out of Money in Retirement – the Solution Top Experts Recommend

Would it surprise you to know that the #1 retirement fear is running out of money – a fear shared by fully half of Americans? That’s according to a recent study by the Aegon Center for Longevity.

People are deathly afraid of running out of money in retirement for good reason, experts say…

Over the last 40 years, there has been a dramatic shift away from company pension plans that promised workers a certain amount of money every month in retirement for as long as they lived.

Instead, there’s been a seismic shift toward do-it-yourself, cross-your-fingers, hope-and-pray retirement planning strategies like 401(k)s and IRAs. [Read more…] “How to Never Run Out of Money in Retirement – the Solution Top Experts Recommend”

New Survey Reveals Majority of Americans Now Live Paycheck-to-Paycheck Due to COVID-19 Pandemic… Here’s How to Avoid That

A new survey from Highland Solutions revealed some startling stats about Americans’ spending habits during the pandemic. How many of these describe your situation?

  • 63% are living paycheck to paycheck
  • 47% have run out of their emergency savings
  • More than one-third have opened up a new credit card since the pandemic to help cover expenses
  • 42% have taken on more debt than normal, and nearly a third have racked up over $10,000 in new debt (a recipe for disaster)
  • 82% could not cover a surprise $500 expense
  • 67% regret not having enough savings before the pandemic hit

So How the Heck Did We Dig Ourselves into this Debt Hole?

For starters, you only need to look no further than the conventional advice about emergency funds. [Read more…] “New Survey Reveals Majority of Americans Now Live Paycheck-to-Paycheck Due to COVID-19 Pandemic… Here’s How to Avoid That”

Taxmageddon is coming – Here’s How to Protect Yourself

President-elect Joe Biden has repeatedly said he will increase numerous taxes and eliminate the Trump tax cuts on “day one,” which would impose a $2,000 annual tax hike on a median-income family of four.

He has promised to as much as double the capital gains tax rates on your investments.

Biden/Harris have proposed canceling student loan debt and are being encouraged to do that by executive order as soon as possible. It would add hundreds of billions of dollars to our already-skyrocketing national debt.

In reality, there’s no such thing as “canceling” or “forgiving” student debt – they can call it anything they want, but it simply means sending the bill to the taxpayers.

Biden wants to raise the corporate tax rate by 33%. [Read more…] “Taxmageddon is coming – Here’s How to Protect Yourself”

What Fairy Tales and Myths is Your Financial Advisor Feeding You?

I’ve spent the last two decades proving there are many investing and retirement planning myths, lies, and fairy tales that most people and financial representatives blindly accept as fact.

It’s really not their fault. Wall Street spends billions of dollars every year to brainwash us.

As the late President John F. Kennedy observed…

The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth – persistent, persuasive, and unrealistic. Belief in myths allows the comfort of opinion without the discomfort of thought.”

Here are 3 fairy tales you’ve probably heard from your financial advisor and the facts about each:

Fairy Tale #1: You Must Risk Your Money in Order to Grow an Adequate Nest-Egg

This is undoubtedly Wall Street’s BIGGEST lie. [Read more…] “What Fairy Tales and Myths is Your Financial Advisor Feeding You?”