Dan Proskauer is a technology executive for a major health care company who heard a radio ad for Bank On Yourself in 2009 that caught his attention. At that time, the economy was in a deep recession, and the stock market was plunging.
For several years, Dan had felt frustrated because he’d been doing all the “right things” he’d been taught to do with his finances… but those “right things” were failing him – and most other Americans – miserably.
Having been burned numerous times by following the conventional financial “wisdom,” Dan was understandably very skeptical of Bank On Yourself. It sounded “too good to be true.” In fact, it sounded like it must be a scam!
I was just interviewed on Beyond 50 Radio about the wealth-killing traps of 401(k)s and IRAs and how to avoid them.
When you listen to the replay of this interview by clicking on the play arrow below, you’ll discover:
How the pandemic has exposed the shortcomings of traditional retirement accounts
Why the 401(k) employer match isn’t really “free money” at all
Why you should never let your employer choose where to invest your 401(k) contribution – most employers now automatically invest your money, and almost no one questions it!
Why you’re likely to retire in the highest tax brackets of your life – and how to legally slash your tax bill
How the fees hidden in 401(k)s can devour 40% or more of your hard-earned money
The critical difference between saving and investing for retirement
Why you need an emergency fund equal to two years of your household expenses
How to have quick and easy access to the money you need to weather the challenges life unexpectedly throws at you – and how you can get the exact same growth on that money as though you never touched it
The real reason many financial representatives will steer you away from the Bank On Yourself strategy
What the Bank On Yourself strategy is in a nutshell
You can listen to the interview by pressing the play arrow below…
I was just interviewed again by the Wall Street Journal for an episode of their “Your Money Briefing” podcast.
The episode is described as, “Financial security expert Pamela Yellen explains why employees should take control of their 401(k) retirement investments and not rely on their employer to invest for them.”
In this eye-opening interview I discuss:
Why it’s very likely that your 401(k) money is in a Target Date Fund (TDF) – even if you didn’t authorize it or request it – and three reasons that should concern you
98% of all employers use TDFs, and 90% have it as the “default option,” which means they automatically put your money there unless you specifically direct them to do otherwise – and almost no one does
Near retirement? You’re not protected! TDFs are supposed to dial back risk as you near retirement, but in practice, that hasn’t happened. In 2008, some TDFs designed for participants expecting to retire in two years lost as much as 40%!
I just recorded an inspiring interview with Grammy-nominated contemporary/pop and rhythm and blues recording star – and Bank On Yourself client – Karyn White.
Karyn was in her early 20’s when she became the first female artist to have her first three solo releases hit #1 on the R&B charts. She collaborated with industry legends including Babyface and L.A. Reid, before devoting herself full-time to raising a family.
After an 18-year hiatus, and a fan base that never forgot her, Karyn decided to record again. Only this time she decided to produce her new CD album, Carpe Diem, herself – and pocket the profits the record companies used to make off of her.
In this interview, Karyn reveals:
How she used her Bank On Yourself plan to finance her new CD herself (and why she probably wouldn’t have been able to do it otherwise)
How making the right choices about money puts you in the position of being able to take advantage of opportunities that will inevitably come your way
If you bought into Wall Street’s mantra that as long as you invest for the long haul you’ll come out ahead, you need to watch this video today.
Click the play button below to see the shocking truth Wall Street doesn’t want you to know…
Are you ready to do something different?
If you’re ready to find out how the Bank On Yourself method can give you the financial security and predictability you want and deserve, take the first step right now by requesting a free Bank On Yourself Analysis.
You’ll also get a referral to one of only 200 financial representatives in the country who have met the rigorous requirements to be a Bank On Yourself Professional, who can answer your questions and show you how much your financial picture could improve when you add Bank On Yourself to your financial plan.
Have you been disappointed by your 401(k), IRA or other retirement plan? Conventional wisdom tells us these plans are the best way to save and invest for retirement. Yet following this advice has resulted in financial insecurity for most Americans.
Because of this, most baby boomers have been forced to postpone retirement an average of five years.1
I’m often asked how using the Bank On Yourself method to save for retirement compares to traditional plans, so I put together this short video that reveals seven reasons Bank On Yourself makes an excellent retirement plan alternative.
Click the play button in the video below and see how many of these seven advantages you’d like to have in your financial plan…
The Ultimate Wealth-Building and Retirement Strategy… Whether the Market Goes Up, Down or Sideways
Would you like to find out how big your nest-egg could grow – guaranteed – if you added Bank On Yourself to your financial plan? No two plans are alike – yours would be custom-tailored to your unique situation, goals and dreams. To find out what your bottom-line numbers would be, request a FREE, no-obligation Analysis today.
If you’re wondering where you’ll find the money to fund your plan, keep in mind the Bank On Yourself Professionals are masters at helping people restructure their finances to free up money to fund a plan. Here are the eight most common places they look.
When you request your FREE Analysis, you’ll get a referral to one of only 200 financial representatives who have met the rigorous training and requirements to be a Bank On Yourself Professional. They’ll show you why Bank On Yourself is the ultimate wealth-building and retirement strategy… whether the market goes up, down or sideways.
1. Bankers Life and Casualty Center for a Secure Retirement, May 2011
If you’ve ever searched for Bank On Yourself on Google, you’ve probably come across a couple of websites containing threads where posters debate the merits of Bank On Yourself.
One such thread that comes up high in the search results has nearly 200 posts spanning the last year and a half.
On this lively audio podcast, Bank On Yourself founder Pamela Yellen discusses how her toughest anonymous critic on that thread has slowly been coming around.
He now (grudgingly) admits that Pamela is right about many of the points he has been contesting. And, when challenged by another poster about the actual returns people get in the stock market, he even dragged out 29 years of records of his own investing accounts, only to conclude that he is “just an average investor.”
To listen to this fast-paced, surprising interview, click on the play button below, or you can download the recording as an mp3 and listen to it on your own player or iPod now at:
Near the end of this 15-minute interview, you’ll also discover a fast and simple experiment you can try to determine if Bank On Yourself really is a scam… or if it’s the ultimate financial security blanket in both good times and bad.
Wondering where you’ll find the funds to start a plan? Don’t worry! You’ll receive a referral to one of only 200 financial representatives in the country who have met the rigorous requirements to be a Bank On Yourself Professional and can show you ways to restructure your finances to free up seed money to fund your plan.
We really want to hear your comments and feedback! Tell us what you think in the comments box below. Please note that any comments containing the answer to the question of what was Pamela’s critics rate of return will be posted after September 24th, so as not to give away the answer…