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.

And have you noticed how they conveniently leave out the part about how, since you’re throwing your retirement savings on a craps table, the market could tank when you near or are in retirement… you could lose 50% or more of your life’s savings… and your dreams of retirement will turn into a nightmare you may suffer through until the day you die?

Nooooooo, they always seem to forget to mention that.

But there is a little-known but proven strategy that should be part of everyone’s financial foundation. It lets you know the minimum guaranteed value of your savings on the day you plan to tap into them… and at any point along the way.

That’s because this strategy bypasses Wall Street and has experienced positive growth every single year for nearly two centuries!

The growth has historically beaten savings accounts, CDs, and money market accounts by a country mile.

This strategy is a supercharged variation of a dividend-paying whole life insurance policy. Options are added that make your equity or cash value in the policy grow significantly faster than the traditional kind of whole life policies financial advisors know about and love to trash.

However, adding these riders also results in slashing the advisor or representative’s commission by 50-70%.

So most financial advisors tell you that you should never buy that kind of life insurance. Instead, put your life savings in the Wall Street Casino… where you’ll have absolutely no idea whatsoever how much money you’ll actually have for retirement!

Want proof this strategy doesn’t work? The average 65-year-old today will live almost 10 years AFTER their savings run out! (Source: World Economic Forum)

Fairy Tale #2: Whole Life Insurance is a Lousy Investment

Your financial advisor will tell you whole life insurance is a “lousy investment”… but life insurance is not an investment at all! In fact, in many states, it’s actually illegal to call life insurance an investment.

Why would calling life insurance an investment be illegal?

According to the Texas Department of Insurance,

Life insurance isn’t an investment. An investment is a financial risk – you might make money, but you also might lose some or all of your money.”

In contrast, whole life insurance comes with many guarantees, and more guarantees than any other life insurance product, including:

  • Your premium is guaranteed never to increase
  • You receive a guaranteed pre-set annual cash value increase – and your gains don’t vanish when the market crashes
  • Your costs are guaranteed never to increase
  • You’re guaranteed to have access to up to 90% of your cash value in the policywhenever and for whatever you want – no questions asked!
  • Your policy has a guaranteed death benefit… and your cash value is guaranteed to be equal to the death benefit when the policy matures

The only thing that’s not guaranteed in a Bank On Yourself-type high-cash-value, dividend-paying whole life policy is the size of your annual dividend.

You aren’t guaranteed to receive annual dividends, which are credited to policy owners in years when the company’s profits exceed their expenses. However, the Bank On Yourself Professionals work with the financially strongest companies in the country that have paid dividends every single year for at least 100 years, including during the Great Depression, Great Recession, the Spanish flu pandemic, and yes, the Coronavirus pandemic… and every single economic bust in between.

To get a referral to one of only 200 financial representatives in the US and Canada who have met the rigorous training requirements to receive the title of “Bank On Yourself Professional,” along with a free, no-obligation Analysis and custom-tailored recommendations, just click this button today:

Fairy Tale #3: Oh, I Can Do That for You

Say you send your advisor one of our newsletters or a copy of one of my best-selling books, and he or she realizes you really don’t want to put all of your eggs in the “hope-and-pray-it-all-works-out” basket they’re pushing.

The next thing you’re likely to hear is, “Well, I can help you set up that strategy.”

If you do hear that, then you might want to ask them, “If you could have done this for me before, why didn’t you?”

CAUTION! If a financial advisor doesn’t structure your policy properly or uses the wrong company or product, your policy could grow much more slowly, lose its phenomenal tax advantages, or both.

It happens more often than you’d think. It happened to the policies my husband and I started when we first learned about this. (I’m an educator and investigator, not a licensed financial professional.)

And that’s why I championed the creation of the Bank On Yourself Professional training program. It’s sponsored by a separate company I have no ownership in, which has decades of experience in this area.

NOTE: Read this if you’re a licensed life insurance agent and you have at least one year of experience in financial services…

You may be interested to know that Bank On Yourself is looking for a few good men and women who have a desire to help their clients reach their financial goals and dreams without taking any unnecessary risks.

You can work with clients “virtually” to provide a safe and convenient experience. It’s a challenging but very rewarding career for those who qualify to be accepted into the program. Not everyone has what it takes to be successful with this concept, and not everyone is accepted into the training program. If you’d like to offer your clients more guarantees and predictability and less financial stress – especially in these very challenging times – you might be a good fit for this program.

Go here to learn more and to see if you qualify for the program.

To apply for the program, go here.

Take Action Today to Ensure Your Retirement Dreams Don’t Turn Into a Nightmare…

If you’re ready to speak with a highly trained and knowledgeable Bank On Yourself Professional who can help you with a variety of safe wealth-building and guaranteed lifetime income strategies, just request a referral and free Analysis here now, while it’s fresh on your mind.

If you take action now, you could soon be experiencing the financial peace of mind you’ve been searching for. So do yourself a favor and act TODAY! Click this button now:

The 5 Biggest Threats to Your Retirement Security Today

Recent studies and surveys show that pre-retirees and retirees fear these five threats to their retirement finances most – and with good reason. Which of these keep you up at night?

Retirement Security Threat #1: Outliving Your Money

This is such a big and scary threat that some people say they would rather die before their time than run out of money.

Unfortunately, the likelihood of outliving your money is all too real. The average 65-year-old will outlive their savings by almost a decade, according to a recent study by the World Economic Forum.

To determine how much money you’ll need to have saved by the time you retire, a good guideline is the “Rule of 25,” which says you should multiply your total annual expenses by 25. By that measure, to have $100,000 per year (don’t forget to adjust for inflation) to spend in retirement, you’ll need to save $2.5 million.

It’s also important to consider that you may well live longer than you imagine, and studies show people tend to underestimate their life expectancy.

Retirement Security Threat #2: Market Risk

[Read more…] “The 5 Biggest Threats to Your Retirement Security Today”

Case Study: Enjoy a Guaranteed Lifetime Income and Reduce Your Taxes in Retirement

Tom Justice is a 59-year-old chemical engineer who has three major concerns about his retirement plan…

His first concern is about outliving his retirement savings

He’s read the statistics and knows that in spite of experiencing the longest bull market in history, the average 65-year-old will outlive their savings by almost a decade, according to the World Economic Forum.

Tom doesn’t have anywhere near the amount of savings recommended by many experts. According to the “Rule of 25,” you should have 25 times your total annual expenses saved by the time you retire if you don’t want to run out money.

Tom wants to live on at least $100,000 a year, which means he needs at least $2.5 million saved up. And that’s a far cry from the $750,000 he’s managed to save in his 401(k)… and it’s all invested in a stock market that he knows is past due for a major market crash.

Tom’s second concern is he believes tax rates can only go up over the long term

[Read more…] “Case Study: Enjoy a Guaranteed Lifetime Income and Reduce Your Taxes in Retirement”

The Wall Street Journal Podcast Interview with Pamela Yellen: Why You Won’t Work as Long as You Planned

I was recently interviewed 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 most people stop working earlier than planned, and offers safe investment tips to reduce the chances of running out of money in retirement.”

In this interview I discussed: [Read more…] “The Wall Street Journal Podcast Interview with Pamela Yellen: Why You Won’t Work as Long as You Planned”

Retirees Will Outlive Their Savings by 10 Years, According to a New Study by the World Economic Forum

The typical 65-year-old has only enough savings to cover 9.7 years of retirement income. That leaves the average American man with a gap of 8.3 years, and women (who live longer) face a 10.9-year gap with no savings left.

That’s according to a scary new study by the World Economic Forum. This assumes you live an average lifespan. If you’re one of the “lucky” ones who lives longer, you could outlive your money by 20 to 25 years or more.

6 Challenges You Face that Could Turn Your Retirement Dreams into a Retirement Nightmare…

How many of these challenges have you prepared for?

Challenge #1: The typical household nearing retirement has an average of only $135,000 in their combined retirement accounts – enough to provide at most $600 per month income. (Source: Federal Reserve Survey of Consumer Finances)

Challenge #2: Even healthy couples will face extreme health care costs in retirement. [Read more…] “Retirees Will Outlive Their Savings by 10 Years, According to a New Study by the World Economic Forum”