How to stay safe and sane during the financial crisis…

How are folks who use Bank On Yourself faring today, during the greatest destruction of household wealth in history?

I just heard from the Wilder family, who told me how they “stayed sane” during the market crash:

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We have had Bank On Yourself plans for about three and a half years. They were what kept us sane during the stock market crash of 2008. Everything that was not in Bank On Yourself policies lost 32%, but all of our Bank On Yourself policies grew. Our goal with it is to be free of all interest payments to lenders and to secure a retirement income stream we can count on. We have used the plans to purchase a new car and pay off our mortgage. It’s a pleasure to know our car cannot be repossessed and our home cannot be foreclosed on.”

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Find out how people of all ages, incomes and backgrounds have taken back control of their financial future in my New York Times best-selling book, The Bank On Yourself Revolution: Fire Your Banker, Bypass Wall Street, and Take Control of Your Own Financial Future.

Wall Street fails those planning to retire next year…

Have you noticed that every day it seems we get a new reminder of just how badly Wall Street has failed us?  One of the latest reminders is simply astonishing.

Do you know what a “Target Fund” is?  This increasingly popular choice for 401(k) plans is a mutual fund billed as a one-stop solution for investors saving for retirement.  You put your money in a single fund linked to the year in which you plan to retire, and the fund company does the rest.

The idea is that the company invests your nest-egg more conservatively every year, so that when you’re ready to retire, your money will be there for you.

So how well do you think that strategy worked last year, for investors who pinned their hopes on retiring next year? [Read more…] “Wall Street fails those planning to retire next year…”