Judging by the questions we’ve been getting from subscribers, there’s a good chance you may have missed some of these 5 important recent stories…
1. New Wealth-Killing Revelations About Your 401(k) and IRA
While doing research for my new book (The Bank On Yourself Revolution, due out on February 11), I came across four stunning new revelations about 401(k)s and IRAs. If you have money in one of these plans, I urge you to read this exposé to find out how to protect yourself from making costly mistakes.
2. Is Bank On Yourself “Snake Oil”?
[Read more…] “Top Five Recent Stories from Bank On Yourself”
According to a recent comment on this blog, I’m full of it. Apparently, the author thinks I pulled the following statement out of my butt…
The reality is that the typical mutual fund investor has actually been losing 1 percent per year over the last 20 years, after adjusting for inflation.”
The statistic comes from the respected research firm, Dalbar, Inc., in its 15th annual study of mutual fund investor behavior. The study measures the returns investors actually get, not the returns they wished they got.
According to Lou Harvey, the president of Dalbar, the study once again revealed that
“investor returns lag what performance reports and prospectuses would lead one to believe is achievable. While those returns are theoretically achievable, the reality is that investors are not rational, and make buy and sell decisions at the worst possible moments.”
Let me paint a picture of how this happens: Lets say you do what the author (who calls himself “David K.”) of the rather nasty blog comment suggests and buy “simple index funds” and hold them for twenty years.
[Read more…] “Think you have to risk your money to get big returns? Hogwash!”
One of my most influential mentors (Dan Kennedy) says,
If you don’t offend somebody by noon each day, you’re not doing much.”
So I want to thank Danny Snyder, whose post to this blog you’ll find below (exactly as he submitted it), for confirming that I am indeed doing something:
First of all using the words “money on steroids” immediatly [sic] puts you in the liar and non-trustworthy category. If you put in $5314.44 and your cash value is $2937.18 you need some ritilin, you are A.D.D. Dave Ramsey (who is in a category way above the likes of you and Suze Boreman) knows of what he speaks. Millions of people have changed their lives due to Dave’s advice. You need to tread very lightly, if you want to succeed and prove yourself. Think… before you tear down people you do not know. I do actually Bank on Myself.
Your [sic] a scam!
On this website, I have stated that I agree with many of the basic principles taught by the financial “gurus” like Dave Ramsey and Suze Orman. And I know they have helped turn around the financial lives of many.