Shaky Economy Stressing You Out? Here’s What to Do…

Feeling like a deer in the headlights right now? You’re not alone! Soaring inflation, stock market crashing, a pandemic that just won’t go away – and the only light at the end of the tunnel looks like the oncoming train of recession! We’re all getting squeezed from both ends…

It’s costing you 60% more than last year to fill up your gas tank.

Last month, you thought about buying a new home. This month mortgage rates have priced you totally out of the market.

Global supply chain glitches mean that things you bought all the time are almost impossible to find. (Seriously, a sriracha hot sauce shortage?!?)

Your low-interest charge cards are projected to average 20% in a couple of months – and the high-interest rate ones will be off the charts.

A few months ago, you were sitting on your big, juicy 401(k) or IRA and thinking of early retirement. Now, you’re praying they’ll let you keep your job when you’re 82.

Not long ago, you looked at your retirement account balance and felt euphoric. A humongous asteroid could be heading toward earth and the market would still go up! I can relate.

I remember a time when my husband, Larry, and I had most of our retirement savings in the market. We were checking our account every day because it was growing by leaps and bounds. We’d high-five each other and do our happy dance singing, “We’re rich! We’re rich!”

That was in 2000, right before the dot-com bubble burst. Within days, we lost not only all of our “gains” but also a good chunk of our original investment!

What Hit Us Like a Ton of Bricks is That We’d Been Suckered Into Thinking We Had Real Wealth and Financial Security…

But that was just a fairy tale. Those eye-popping numbers turned out to be as substantial as cotton candy in a rainstorm.

Neighbors of ours faced a similar disaster. In early 2008, house prices skyrocketed. Everybody rushed to refinance and pull out their equity. Our neighbors’ house (almost identical to ours) had appraised for nearly 50% more than our last appraisal, so they put it on the market. Three months later, no one had even looked at the house, let alone made an offer.

Two years later, the bank foreclosed on it.

The point is that until you sell an asset, whether it’s a stock, mutual fund, a commodity, cryptocurrency, or real estate, your “gains” aren’t real. They’re a pipe dream that can become a nightmare in the time it takes to brush your teeth. There’s a huge difference between paper wealth and real wealth. Yet, we still get sucked into the paper fantasy.

Your high blood pressure right now is justified. As humans, our natural impulse when everything hits the fan is FIGHT (but how can you fight conditions that are totally out of your control?!?), FLIGHT (but how can you escape from issues that are hitting every country in the world?!?), or FREEZE (just keep in mind that it never works out well for the deer).

You know the most irritating thing about this? YOU DID EVERYTHING RIGHT! You worked hard and put money into your retirement plan. You talked to “experts” and created a financial plan that you followed diligently. You had it all under control.

Except You Didn’t.

You can’t control the economy or what the Fed, in its infinite wisdom, decides to do next. You can’t control Wall Street and the panic of investors and day traders. You can’t control a crazy, brutal invasion in Europe that turns the global economy on its ear.

So, What Can You Do When it Feels Like So Many Things Are Out of Your Control?

I get why you might not want to make big changes to your financial plan right now. But I also know that you don’t need to just grit your teeth, tighten your belt, and bear it.

Now is the perfect time to get information, to do some research and figure out how you can avoid getting clobbered financially in the future.

The most important action you can take today is the first step. And once you do that, you’ll feel more in control and relieved knowing that you have options. As Martin Luther King said:

Take the first step in faith. You don’t have to see the whole staircase. Just take the first step.”

Use this time to look into the Bank On Yourself safe wealth-building strategy and see if it’s a good option for you in the future. A Bank On Yourself Professional can answer all your questions and show how it works to protect you from whatever life throws at you. No arm-twisting and no obligation – really!

When you request a free Analysis here right now, you’ll discover how you could enjoy:

  • Real wealth and security – both your principal and gains are locked in and you’ll never go backwards – this strategy has a 160+ year track record of positive growth
  • How to get the equivalent of a 7%+ annual return in a 401(k) or IRA – without the risk or volatility
  • Annual increases that are guaranteed to grow by a larger dollar amount every year – no matter what the markets do
  • Tax-free retirement income (under current tax law) protecting you against the inevitable higher tax rates in the future
  • Fast access to cash whenever and for whatever you need – with no penalties and no questions asked! (Try doing that with your 401(k) or IRA)
  • A way to eliminate high-interest debt
  • A safe, predictable retirement plan alternative that lets you know the minimum guaranteed value of your savings on the day you plan to tap into them and at every point along the way
  • A way to guarantee you’ll never run out of money even if you live to 120 or beyond!
  • 8 places to find the money to build a solid financial foundation

As Winston Churchill said, “Never let a good crisis go to waste.”

Put this time to good use and take the first step towards taking back control of your financial future.

Request a free, no-obligation Analysis here right now:Request Your Free Personal Finance Analysis

You have nothing to lose and a world of financial security to gain.

3 Reasons Why the Money in Your 401(k)/IRA Doesn’t Belong to You

If you get regular account statements, you probably know the approximate current value of your 401(k) and/or IRAs, so please write that total down now.

Do you think all that money belongs to you?

It doesn’t… and what people find most surprising is how little of your account value actually does belong to you.

3 Reasons the Money in Your 401(k) Doesn’t Belong to You…

Reason #1: You May Not Be Fully Vested

[Read more…] “3 Reasons Why the Money in Your 401(k)/IRA Doesn’t Belong to You”

7 Warning Flags and Financial Risk Factors We Face Today

You know people have gotten too complacent about investing in the stock market and what it takes to grow real wealth when…

  1. People bragging about becoming 401(k) millionaires and posting their balances on social media has become a “thing” (remember when everyone from the company executives to the janitor were bragging at the water cooler about being real estate millionaires, just before the last crash?)
  2. People start to think they can actually retire comfortably on $1,000,000 (you can’t, because the IRS will take at least 25% – 33% off the top, and you’ll need $500,000 just to cover out-of-pocket healthcare and long-term care costs in retirement)
  3. The personal savings rate fell to its third-lowest on record at the end of 2017
  4. Consumer spending is rising, and more of it is being fueled by debt (the last quarter registered the second-largest percentage increase in charge-card debt in a decade)
  5. Inflation is taking a bigger bite out of Americans’ paychecks (real average hourly earnings of 80% of employees fell by half a percent in January – its fifth decline in six months)
  6. Hundreds of major companies have price earnings ratios that are higher than during the height of the 2000 and 2007 bubbles
  7. For a decade now, central banks have pretended they can print up prosperity (which they’ve done at a magnitude beyond imagination… and we’re supposed to have blind faith that they know what they’re doing)

[Read more…] “7 Warning Flags and Financial Risk Factors We Face Today”