YIKES!! Is This Where Wall Street is Headed!

Thursday, July 23rd, 2015

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According to every economist I talk with I hear the same thing, the bubble we are riding is going to burst! Harry Dent says, “the bigger the bubble the bigger the burst”   Once the market starts to tank it’ll fall like a rock.

Wall Street Broken

According to David Stockman, architect of President Regan’s economic turnaround known as ‘Morning in America’

warns of the looming collapse of free market prosperity and the destruction of American wealth.

For those of you who already have your Bank On Yourself plans in place, CONGRATULATIONS, for whenever the impending ‘burst’ occurs you will not lose one single penny. Conversely your plans will continue to grow in cash value and death benefit. And for an unscheduled review with any questions regarding what more you can do with your existing plans please contact the office.

For those of you who have not implemented a plan NOW would be a very good time to consider your options and what you can do to protect your assets!

Click Here to Discover Your Financial IQ    AND/OR   Get Your FREE Safe Wealth-Building Guide Here

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3 LITTLE QUESTIONS

Thursday, January 30th, 2014

Q man

OK January is over, so Happy February.  How do you compare with the rest of the Country regarding your New Year’s Resolutions? Did you make is past the second week in January or fail as about half of those who try do?

  About those ‘Three Little Questions’ here are some ideas for you:

 

  1. What should I START doing Update my cash flow spreadsheet at least quarterly so I’ll know where my  money is going and stop the leaks.
  2. What should I STOP doing?  Stop impulsive spending  by asking myself is this something I need or something  I want?
  3. What should I CONTINUE doingContinue reading Marilyn’s blogs and following her financial coaching 🙂

For those of you haven’t yet written down your answers to the ‘Three Little Questions’ above I’m waiting to hear from you??

  Will be back with you on February 28th to celebrate Happy March!

 PS:  And how are you doing with your money rules?   Have you written them down and if you need some assistance with them give us a call.  Hint, answers to the ‘3 Little Questions’ could be part of your money rules!

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3 LITTLE QUESTIONS

Thursday, January 30th, 2014

OK January is over, so Happy February.  How do you compare with the rest of the Country regarding your New Year’s Resolutions? Did you make is past the second week in January or fail as about half of those who try do?

3 Qs

About those ‘Three Little Questions’ here are some ideas for you:

  1.  What should I START doing Update my cash flow spreadsheet at least    quarterly so I’ll know where my money is going and stop the leaks.
  2.  What should I STOP doing?  Stop impulsive spending by asking myself is  this something I need or something I want?
  3. What should I CONTINUE doing  Continue reading Marilyn’s blogs and following her financial coaching 🙂

For those of you haven’t yet written down your answers to the ‘Three Little Questions’ above I’m waiting to hear from you??

Q man

Will be back with you on February 28th to celebrate Happy March!

PS:  And how are you doing with your money rules?   Have you written them down and if you need some assistance with them give us a call.  Hint, answers to the ‘3 Little Questions’ could be part of your money rules!

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How do your New Year’s Resolutions compare with the rest of America?

Monday, January 6th, 2014

Well according to a study by the University of Scranton Journal of Clinical Psychology they found that statistically, the three top resolutions in the country are to lose weight, to get better organized and to spend less money.

The study goes on to report that by the second week in January you’ll probably fail and only about half of those who try will succeed.

With that in mind I think we should celebrate each New Month to keep ourselves on tract.  Asking yourself these three little questions should help:

2014 resolutions

 

 

1. What should I START doing?_______________

2. What should I STOP doing?________________

3. What should I CONTINUE doing?____________

 

AND WRITE THEM DOWN or you will wind up like those folks making New Year’s resolutions that go by the wayside within two weeks?

Drop me a note with the answers to your three little questions.  Will be back with you on January 31st!

 

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Money Rules for 2014

Tuesday, December 10th, 2013

money rules 1 The New Year will be here before we know it, my  question to all of you is, are you going to be ready  financially by making the necessary changes to your  spending habits in order to guarantee you financial  security? With that thought in mind I believe a book   review dealing with financial matters is most  appropriate.  I want to begin this series with the 1996 book, ‘The Millionaire Next Door’, The Surprising Secrets of America’s Most Wealthy written by Thomas J. Stanley and William D. Danko.   I read this book some years ago and it is full of financial wisdom.

Most of the millionaire households profiled did not have extravagant lifestyles and that finding is backed up by surveys showing how little these millionaire households have spent on such things as cars, watches, suits and other luxury products/services.  Most importantly, the book gives a list of reasons for why these people managed to accumulate so much wealth, the top one being, ‘They Live BELOW their means’.

Living below your means will provide you with more money for saving and investing which will earn you additional revenue, providing you with additional funds to save and invest.  This will create exponential growth helping you to reach your financial goals much faster.  Once you make that your major ‘Money Rule’ you will be on the road to financial security.

financial security

If you have not created your personal ‘Money Rules’ now would be a great time to do that in preparation for 2014.
Living Below Your Means should be Number ONE on your list!

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Ready or Not Its Retirement Day

Thursday, November 7th, 2013

 

This day comes from out of nowhere for the majority of people in this Country.  It seems like only yesterday you were 52, what happened and more importantly:  How many of these questions can you answer with a yes?

retirement next exit

  1.  Where is your money?
  2. How much do you have?
  3. Will you outlive your income?
  4. Will your family be provided for at your death &   able to maintain their current lifestyle?
  5. Are you prepared in the event of a Long Term Care need?
  6. Is your trust in order?

With over 35 years in the financial services business and talking to hundreds of clients I have found that most people cannot answer yes to more than two of the questions above.  If you are one of these people you better get your financial house in order AND review your financial affairs at least every two years and more often if changes occur.   In the words of Lauren Manning a 911 survivor, “No crisis comes with a warning” If you have not prepared for your retirement you will be in a state of crisis.  This can be avoided but only if you take action and control of your financial life.

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In the number one selling book, ‘The Secret to Lifetime Financial Security’ I wrote ‘Wealth Does Not Reside in Chaos’.  If you would like to remove the chaos from your finances contact me for a free one hour no obligation consultation.  I guarantee you three things will happen:

check1) You will be able to answer yes to all six questions above

check2) You will be in control of your financial affairs and

check3) You will be much better prepared for your retirement day

 

If you respond to this offer by November 30th, I will email you a copy of my book AND as a special bonus I’ll also have a copy of Pamela Yellen’s (Best Selling Author of Bank On Yourself®) book ‘Bank On Yourself Revolution’ mailed to you when it’s released in February 2014..

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Why Life Insurance On Children?

Monday, November 4th, 2013

MB child-plan

 

The overwhelming reason for having life insurance on children is to protect their insurability in the future as there are many medical conditions that can develop during the childhood that could result in being uninsurable as an adult.

Life Insurance is an extremely important and sound part of financial planning.  Protecting loved ones from loss of the breadwinner and the homemaker running the home and caring for children.  Both should have protection in order to maintain the standard of living they are accustomed to and to avoid additional stress from the added disruption a death of a family member brings into their lives.

One client told the story of his parents purchasing life insurance on him as a child, shortly thereafter he developed a medical condition that rendered him uninsurable.  As an adult, married with children that policy his Father purchased on him as a child was all they had and in his own words he was very grateful to have that policy as it was the only protection he had for his family.

After being free from any recurrence of his medical condition for a period of ten years (normal time span for most insurance companies regarding serious medical conditions) he was able to purchase more coverage but to this day still has the original policy his parents purchased on him as a child.

There is another reason to have life insurance on children, a reason we dare not consider but happens every day; the death of a child!   This will create unfathomable and long lasting grief for the parents.  One of my clients who is self-employed was telling me about her nephew’s suicide and remarked to me, “If anything ever happened to one of my sons there’s no way I’d be able to work!”

scrabble
There is no amount of money that could possibly ease the painful grief from the loss of a child but it would afford the ability to stop working for a while giving an opportunity for extended grieving time.

For those of you with children this is something for you to consider for both reasons and the cost is extremely reasonable.

FAQ Bank On Yourself For Kids

Q. Do children have to have a physical exam in order to purchase life insurance?

A. No, the application has medical questions and the insurance company may request copies of the child’s medical records from the child’s physician.

Q. What kind of life insurance policy is it?

A. Whole life insurance with guaranteed fixed level premiums and does not increase as the child gets older.

Q. What about cash value?

A. The whole life policy has guaranteed tax-deferred cash value accumulation.

Q. How much would the premiums be?

A. That would depend on the age and gender of the child.

Do you want to know more, contact Marilyn Blosser today!

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The New 401(k) Fee Disclosure Rules Haven’t Helped Much At All.

Tuesday, October 29th, 2013

 

Wealth Killer # 4 

The new 401(k) fee disclosure rules haven’t helped much at all.

In 2012, amidst considerable fanfare, the government announced new rules designed to force 401(k) plans to disclose the fees that we are paying. The new annual disclosure form often runs more than fifteen pages, but it doesn’t provide a simple figure for the annual cost you’re paying.

paying

Even with new laws requiring better fee disclosures,  surveys show most participants still have no clue how  much they’re actually paying. A 2013 survey from the  Employee Benefit Research Institute revealed only  half of plan participants even noticed the fee  disclosure information, and only 7 percent have made  changes to their investments as a result of receiving  information about the fees they’re paying.

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Your Plan Administrator Is A Lousy Fund Picker

Tuesday, October 15th, 2013

 

Wealth Killer # 3  Your Plan Administrator Is A Lousy Fund Picker.

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 A study from the Center for Retirement Research at Boston College in June 2013 found that plan  administrators choose mutual funds that lag    comparable indexes. Just like the rest of us humans,  they routinely chase returns. About the best thing the  study could say was that, even though employers  choose funds that lag the indexes, at least their choices were better than randomly selected funds. (Translation: Their choices were marginally better than a monkey throwing darts, or a random-name generator.)

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The fees you pay in an IRA are often even worse than 401(k) Fees

Tuesday, October 1st, 2013

 

Wealth Killer # 2

While all the attention has been focused on the confiscatory fees you pay in a 401(k) plan, IRA fees have gotten ignored. Many people assume they’re very low. Hold on to your wallet, because a March 2013 Government Accounting Office (GAO) report blew the roof off that myth! (Pages 34-39 of the Report reveal the tawdry details.)

Have you ever left a job and rolled your 401(k) into an IRA? Millions of people do every year. Financial firms often encourage workers who are leaving a job to roll over their 401(k) assets into an IRA also managed by the firm.
hidden fees Undercover investigators hired by the GAO called  thirty of the largest 401(k) providers. Seven of them  incorrectly stated there were no fees to open or  maintain an IRA. And half of the ten largest firms  incorrectly advertised free IRAs on their websites.  The fee information was scattered in tiny print in    hard-to-find documents on the site.

 The study found that at one of the largest IRA providers, the annual advisory fee is 1.5% of assets for accounts with balances up to $500,000. As Representative George Miller noted when he released the report in Congress, “This comes as no surprise since IRAs often come with higher costs when compared to a 401(k).”

So how big of a deal is a 1.5% annual fee? According to the Department of Labor, it’s a very big deal. A fee of only 1% can slash the value of your savings by 28% over the next 35 years.

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