Category: Retirement Plan Alternative

Why you need Dow 32,000 today

by | Leave a Comment

I have an important question to ask you, and taking a moment now to answer it may rattle you…

When do you think the Dow will go to 32,000?”

Does that seem like a crazy or dumb question?  It’s not.  I’ll explain why in a moment, but I have another question for you first:

What would you consider to be a minimum acceptable annual return on your money for taking on the nerve-wracking risk and volatility of the stock market?

5%?  7%?  Maybe even 10%?

Over the past two years, we surveyed tens of thousands of people about this, and most responded that they wouldn’t consider risking their money in the market unless they could get a 7% or more annual return.

But let’s say you only insisted on a 5% per year return…

[Read more…] “Why you need Dow 32,000 today”

How will these 3 financial surprises affect you?

by | Leave a Comment

There have been three recent surprising revelations I urge you to pay close attention to, if you have any money invested in the stock market and/or you have an IRA, 401(k) or other government qualified retirement plan…

1. The ugly truth about the stock market’s new record highs

Take a look at the chart below which reveals how, when measured in real purchasing-power terms, the S&P 500 Index is nowhere near its March 2000 high. In fact, the index would have to increase by another 32% today, just to get you even (in real dollars) with where you were more than 13 years ago:
Your Retirement Plan Powered by Wall Street-Fast Graph
Even if you look at the total return of the S&P 500 (including reinvested dividends), the real (inflation-adjusted) purchasing power of your investment remains negative after 13 years. And this assumes you have no fees, commissions or taxes, which, of course, will take another big bite out of your savings.

2. Long-term investors received only HALF the return of the S&P 500 [Read more…] “How will these 3 financial surprises affect you?”

Retirement confidence hits record low

by | Leave a Comment

Here’s what to do…

Americans’confidence in being able to retire comfortably is at a record low, despite the economy showing signs of improvement and the stock market hitting record highs.

Senior Worker - Coffee Server
To compensate for their lack of retirement funds, more people are planning to postpone retirement.

That’s according to the just-released annual study by the Employee Benefit Research Institute.

The statistics are bleak:

  • 57% of those surveyed report having less than $25,000 in total household savings and investments. Only 24% reported savings of $100,000 or more
  • Only 24% are very confident they’ll be able to live comfortably in retirement
  • Only half said they could definitely come up with $2,000 to cover unexpected expenses within the next month

How long do you think $25,000… or even $100,000 in savings will last a person in retirement? On average, a man turning 65 this year will live another 20 years, and a woman that age will live another 23 years.

To compensate for their lack of retirement funds, more people are planning to postpone retirement. That strategy may not work very well, since more than 47% of current retirees were forced into retirement sooner than planned.
[Read more…] “Retirement confidence hits record low”

Why do so many people prefer THEIR facts to THE facts?

by | 2 Comments

As Mark Twain noted…

Most people’s egos prefer THEIR facts to THE facts.”

Facts

And I’ll bet you can think of several people who are guilty of that right off the top of your head, can’t you?

Facts

One of my mentors, Dan Kennedy, also noted, “People are quick to dispense advice on any subject, regardless of their qualifications. Most people don’t even distinguish between ‘opinion’ and ‘knowledge.’ That’s why you must.”

When it comes to Bank On Yourself, there’s a lot of opinion being dispensed as fact… and I thought I’d help you sift through three common misconceptions about Bank On Yourself in this blog post…

Myth #1: The commissions paid on Bank On Yourself plans are high

Often, this accusation is made by advisors who profit from investing your dollars on Wall Street. They even say agents only sell these policies because of the high commissions.

What they don’t realize is that Bank On Yourself Professionals receive 50-70% less commission than advisors who structure policies the traditional way.

And the shocking fact is that the advisor who manages your money in the stock market is making at least ten times more than the Professional, if you contribute the same amount of money each year! [Read more…] “Why do so many people prefer THEIR facts to THE facts?”

Stock market hits 5 year high – what they’re not telling you

by | Leave a Comment

As the bull market that began in March, 2009 picks up steam, the Wall Street stock jocks are urging individual investors to jump back into the market with both feet. They boast that the S&P 500 has hit a 5-year high and is closing in on a new all-time high. But – somehow – they all forget to mention one pretty important fact: It also ended the year 3% lower than where it was 13 years ago at the end of 1999.

This chart tells the rest of the story you’re not hearing…

 

Your Retirement Plan Powered by Wall Street-Fast Graph
You’ll notice inflation was 36% over the past 13 years, which took an enormous bite out of the purchasing power of your savings.

Some readers may be wondering why I didn’t include the value of the dividends earned by the S&P 500 companies in the chart. So let’s do that now. The total return of the S&P 500 (including dividends) for the past 13 years was 22%, which is an average return of about 1.7% per year – and still lags inflation.

Don’t forget the fees and taxes…

[Read more…] “Stock market hits 5 year high – what they’re not telling you”

Shouting about Bank On Yourself from the rooftops

by | 11 Comments

Dan Proskauer recently sent me a chart showing how his family’s net worth has grown since he started his first Bank On Yourself plan 3 1/2 years ago, and how that compares to the previous 10 years.

When Dan saw this chart on his financial tracking software program, he said his jaw dropped so hard it left a dent on his keyboard and that “we should be shouting about this from the rooftops.”

They say a picture is worth a thousand words, so take a look for yourself and note how you’ll see a more detailed version of the chart when you place your mouse over it…

Bank On Yourself

Why would Dan be willing to reveal and discuss something as personal as his net worth for the whole world to see? Because, in Dan’s words…

[Read more…] “Shouting about Bank On Yourself from the rooftops”

Bank On Yourself: The Ultimate Wealth-Building Strategy Video

by | 2 Comments

Do you know what your retirement account will be worth on the day you plan to tap into it? If you’re like most people, you don’t have a clue. Well, here’s a reality check – that’s not a plan; it’s gambling.

Because people have blindly followed the conventional wisdom about investing and retirement planning advice, most baby boomers have been forced to postpone retirement an average of five years…and nearly half aren’t expected to have enough money in retirement to cover even basic living expenses, like food and medical care.1

At Bank On Yourself, we believe the decision of whether and when to retire – or not – should be a matter of choice, not necessity. If that makes sense to you, we urge you to watch this fast-paced video revealing seven reasons to consider using the Bank On Yourself method as a safe and proven alternative to traditional retirement plans.

Click the play button in the video below and see how many of these seven advantages you’d like to have in your financial plan…

PWT9-V28ajA

Bank On Yourself gives you guarantees, predictability, control, tax advantages and peace of mind missing from traditional financial planning

Want to find out how much money you could have – guaranteed – in 10 years, 30 years, and at any point along the way if you added Bank On Yourself to your financial plan?

It’s easy to find out! Just request your FREE, no-obligation Analysis that will show you how a custom-tailored plan can help you reach your short-term and long-term goals and dreams in the shortest time possible.
Request Your Analysis Button

1. Center for Retirement Research at Boston College, March 2012 Report

Fire Your Banker Video Contest Results

by | 3 Comments

Wow! We received more than 150 terrific entries when we invited readers to tell us what you think about our unusual new video on “How to Fire Your Banker and Become Your Own Source of Financing”.

Prizes-neon

We want to thank everyone who took the time to give us such detailed and honest feedback, which is exactly what we need to be able to communicate the benefits of Bank On Yourself more effectively.

Prizes-neon

Five people on the Bank On Yourself team – myself included – poured through every single response, not just to pick the contest winners, but to also learn what questions and concerns you have about the Bank On Yourself concept.

At $1,000 per finished minute to film this kind of video, I was really glad no one said what they liked most about it was when it ended! Most people really liked the unusual video style and felt that it helped them better understand one of the most intriguing advantages of the Bank On Yourself method: How it lets you bypass banks, credit cards and finance companies and become your own source of financing.

If you haven’t watched the video yet, I encourage you to do that now…

NRnduZFfC4M

There were many terrific insights and questions in the contest entries. It was tough to pick just five winning entries (we actually picked six), but you’ll find the winners listed below.
[Read more…] “Fire Your Banker Video Contest Results”

Video: How to fire your banker!

by | 164 Comments

We’re always looking for entertaining, easy-to-understand ways to explain key concepts of the Bank On Yourself method.  So we just completed a new – and very unusual – video that explains one of the most powerful features of Bank On Yourself – how it lets you bypass banks, finance and credit card companies altogether and become your own source of financing.

This video also addresses how purchasing things like cars, vacations, business equipment, or a college education through a Bank On Yourself plan beats financing, leasing and even directly paying cash for them.

Click the play button on the video below, then scroll down to the comments box and give us your feedback…

NRnduZFfC4M

HOW MUCH MONEY COULD YOU HAVE BY BECOMING YOUR OWN FINANCING SOURCE?

To find out how much more money you could have when you fire your banker and become your own financing source, request a FREE, no-obligation  Analysis.

Request Your Analysis Button

We’d really love to get your feedback on this new video and video “style”.  (You’ve probably never seen a video like this before.)

Here are questions we’d love to get your feedback on in the comments box below…

1. Do you currently use Bank On Yourself?

2. What was the best part of the video?

3. What is still unclear about the Bank On Yourself concept?

4. What topics could we address that you think would give people more confidence to consider Bank On Yourself?

5. If you do not currently use Bank On Yourself, did this video make you more likely or less likely to request a free Analysis and get a referral to one of the Bank On Yourself Professionals?

6. If you are currently using Bank On Yourself, do you feel that this type of video is something you could share with family, friends and colleagues to help them understand this method of managing your finances? Why or why not?

7. Is there any other feedback you’d like to give us?

Singer Karyn White Seizes the Day with Bank On Yourself

by | Leave a Comment

I just recorded an inspiring interview with Grammy-nominated contemporary/pop and rhythm and blues recording star – and Bank On Yourself client – Karyn White.

Grammy-Nominated Singer Karyn White Seizes the Day with Bank On Yourself
Grammy-Nominated Singer Karyn White Seizes the Day with Bank On Yourself

Karyn was in her early 20’s when she became the first female artist to have her first three solo releases hit #1 on the R&B charts.  She collaborated with industry legends including Babyface and L.A. Reid, before devoting herself full-time to raising a family.

After an 18-year hiatus, and a fan base that never forgot her, Karyn decided to record again.  Only this time she decided to produce her new CD album, Carpe Diem, herself – and pocket the profits the record companies used to make off of her.

In this interview, Karyn reveals: