Declare Your Financial Independence!

While we are in the spirit of our country’s independence, it’s time for Americans to take control of their finances and declare their financial independence!

Our Federal Government has proven to be a poor steward of our money. Obviously the politicians are not concerned about our country’s mushrooming debt, and given their poor track record financial responsibility, we must take responsibility for our own financial well being.

We have been told that Uncle Sam will take care of us at retirement with Social Security and Medicare, these systems are past broken. According to a recent blog on Heritage.Org’s website, currently the unfunded debt for these programs is upwards of $60 TRILLION! These programs are nothing more than Ponzi schemes cleverly disguised as social programs, ironically with NO SECURITY.

Just as Founding Fathers broke free from the establishment when creating our Declaration of Independence, we must break free from these chains of bondage. What we need is a system for finance based on self-reliance and independence! Start your own financial revolution by taking control of your finances.

When you look at our current system for saving and accumulating wealth, it is weighted heavily towards the financial institutions. Our educational system, our accounting system and the financial advisors, are all dependent on the government and these financial institutions. We are held captive by the cartel of mega-banks, as described by G. Edward Griffin in his now widely accepted book, The Creature from Jekyll Island A Second Look at The Federal Reserve.

As I write this, President Obama is asking Congress to raise the debt ceiling, increase government spending and increase taxes to supposedly stimulate the economy. This is exactly what got our country in the mess that it’s in. The only way to stimulate the economy is STOP SPENDING money they do not have. Only then can we lower taxes and decrease inflation.

In our personal lives we understand that spending money we do not have by utilizing credit lines and credit cards creates debt. We also understand that bad credit, bankruptcy and foreclosures are real, so in order to avoid these pitfalls, financial independence is crucial.

Yet, we fall victim to the promises of the politicians to win our votes and create more laws. They dangle “free” money, college loans, mortgages and low interest credit to us like carrots. Student loan debt has now surpassed credit card debts as personal debt increases and college graduates can not get a job.

FIRE, as it is respectfully called for, Finance, Insurance and Real Estate industry, has imploded. Middle-aged men have lost their careers and may never work again. The economies of those involved, according to the FIRE-economy website, Commercial banks, savings & loans, credit unions, finance/credit companies, securities & investment, venture capital, hedge funds, private equity & investment firms, insurance real estate, mortgage bankers, and brokers accountants

All of these involved have been propped up by government programs like Fannie Mae and Freddie Mac. Now the American Dream has become the American Nightmare! The Federal Government has poured $317 Billion into Fannie and Freddie according to http://www.cnsnews.com/news/article/true-cost-fannie-freddie-bailouts-317-bi  Billions more of taxpayer dollars have gone to bailout mega-banks and financial institutions including AIG, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley, General Motors, and the list goes on… http://money.cnn.com/news/specials/storysupplement/bankbailout

Now comes along Helicopter Ben and he’s dropping money from the sky to save the world. Quantitative Easing has cost Americans BILLIONS! Businessweek found it necessary to poke fun at Fed Chairman Bernanke.

Ben Bernanke helicopter

Helicopter Ben as dubbed in Businessweek

So, you understand our nation is in trouble. The question is, do you want to do something about it? If you do nothing, then you can watch your wealth erode away to taxes and inflation. You will be a slave to government mandated programs and the financial institutions that hold the purse strings. It doesn’t matter if you pay cash or finance, in the words of Nelson Nash, “You finance everything that you buy.”

As stewards of our finances we must learn to take control of our personal economy, therefore ridding ourselves of government dependence. The idea of “retirement” is actually a government term that perpetuates dependency. Sadly, most employees will never have enough to support this dream of retirement that has been sold to them.

While true unemployment numbers hover around 20%, millions continue looking for jobs while trades and crafts are available in their backyard. And, the internet has given us markets never imagined before.

As governments collapse across the globe, history is repeating itself and prophecy is being fulfilled. As talks continue towards a world currency and taxes on the “rich”, our Congress refuses to balance the budget and stop their reckless spending. Financial markets have crashed before, and they will crash again…Yet, Americans still follow the financial advice of radio hosts who tell them to max out their 401k contributions. Already identified as targets by your friends in congress, these ticking time-bombs have never recovered from recent crashes.

What is a family to do? Whatever happens, you can protect your family name and legacy by controlling your finances today. This erosion does not have to affect you in the drastic ways that it sadly will affect most families.

Our system of earning, saving and investing money simply is broken. It relies way too heavily on the tag team of government and mega-banks and financial institutions, and way too little on the self-reliance and individualism that made our nation great!

You can create your own financial independence and take control of your money. Declare your freedom and make the remainder of 2011 as important as our country’s revolution in 1776.

Join hundreds of thousands of Americans who have declared they’ve had ENOUGH! Rid yourself of the slavery of the financial institutions. Discover the Infinite Banking Concept™ in the bestselling book, Becoming Your Own Banker

Or get started today by requesting a FREE, No Obligation analysis of your financial picture

Protect yourself from the onslaught of attacks coming to you by the U.S. Government and Mega-Banks.
Fight Tyranny by starting your own Financial Revolution and Declare Your Financial Independence!

“What at first was plunder assumed the softer name of tax revenue.”
~Thomas Paine

“Certainty? In this world nothing is certain but death and taxes.”
~Benjamin Franklin

Tu Ne Cede Malis, (Latin: Do not give in to evil but proceed ever more boldly against it)
~Ludwig von Mises

Declaring your Financial Independence will reward you with freedoms like none before, it is an act of patriotism. Now is the time to act with confidence and courage just as our forefathers did when they signed the Declaration of Independence FREE Yourself from Bondage – Request ar financial review

Until next time,
Barry Page, RFC

Barry Page is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

He has created a service that caters to families and business owners that are frustrated with the risks involved with the stock market, but still want competitive returns. His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protect their savings, but also provide tax advantages.

His business is based in Ocean Springs, MS and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

Are You Tired of the Market Roller Coaster? Here’s What To Do

Discover the Alternative To Traditional Investing

While the market goes up and goes down, you don’t have to. You can get off of the roller coaster and discover the alternative to traditional investing.

There really is a better way… and it won’t keep you up at night.

You’ve probably heard that life insurance is a bad investment. And, that you should buy the cheapest term insurance available. Well something else that you’ve probably heard is “you get what you pay for.”

YES! You can protect your hard earned money and build wealth using tried and true, dividend paying, life insurance.

While the investment firms and banks want you to believe that the stock market is the ONLY way to invest and make money, they too own life insurance.

BOLI is the name for Bank Owned Life Insurance, and if you’ll do your research you’ll find that all of the major banks own lots of it. As a matter of fact the FDIC (Federal Deposit Insurance Corporation) actually encourages banks to own life insurance: http://www.fdic.gov/news/news/financial/2004/fil12704.html

Total BOLI Assets (in billions)
Held by Bank Holding Companies in 2007
BHCS BY ASSET SIZE 2007 2006 Change
Over $10 billion $ 104.63 $ 88.59 18.1%
$1B – $10 billion $ 9.89 $ 9.55 3.6%
$500M – $1 billion $ 3.03 $ 2.86 4.5%
All $ 117.55 $ 101.00 16.4%
*Source: Michael White-MullinTBG BOLI Holdings Report – 2008 edition

BANKS THAT OWN BOLI State BOLI
Bank of America NC $ 13,883,173
Wachovia NC $ 12,874,000

JP Morgan Chase OH $ 7,181,000

Citibank NV $ 3,281,000
Regions Bank AL $ 1,253,146
Bancorp South MS $ 168,005
*Partial list compiled from: The Pirates of Manhattan

If permanent life insurance is such a bad investment, why do you think banks own so much? And, if you listen to who is saying “buy term” it’s usually the banks and Wall Street. Why? Because they are now selling term insurance and it is the MOST Profitable for them, and of course they want to sell you their mutual funds. Mutual fund managers rake in hundreds of millions of dollars every year, while you take the risk and whether or not they make money or not.

So, why do they tell you to “buy term and invest the difference”, while they do just the opposite? Well, that’s how they make their money, even if you LOSE… That’s right, they make money even when they lose your money. They tell you to buy while the market is down, and to “dollar cost average”, what a bunch of crap! Yet, they still won’t you to bail them out!

Have you ever considered your what YOUR LIFE is worth to YOUR FAMILY? This is your Economic or Human Life Value. Winston Churchill said this about using life insurance to protect the economic value of a human life:
“If I had my way I would write the word insurance over the door of every house because I am convinced that for the sacrifices which are considerably small, families can be secured against catastrophes which would otherwise smash them up forever.”

The political commentator, humorist and international celebrity Will Rogers said this:
“A man who dies without adequate life insurance should have to come back and see the mess he created.” Rogers later died, in 1935, in a plane crash in Barrow, Alaska—and life insurance benefits were one of his estate’s largest and most important assets.

You too can enjoy the many benefits of life insurance while protecting your family. Here’s a partial list of what life insurance can do for you:

  • It takes care of your family if you die too soon.
  • It takes care of you if you live too long.
  • It is self-completing if you become permanently disabled.
  • The waiver of premium guarantees the premiums are paid.
  • It can have catastrophic benefits if you have cancer, heart attack or stroke, to help even if you don’t die.
  • It can have terminal illness benefits that will pay when you are diagnosed, allowing you to put things in order before you die.
  • It can provide long-term care benefits, drawing from your cash-value.

And, if that isn’t enough to get your attention, then you may want to learn about the banking benefits of dividend paying, cash-value life insurance. The Infinite Banking Concept is a way to recapture the interest that you pay to others and put it back into your “bank”. You can learn more and order the book Becoming Your Own Banker here: http://legacyinsuranceagency.com/byob

So, get off the roller coaster and stop risking your wealth. You don’t have to get out of the market, but you may want to diversify with some safe alternatives like annuities and life insurance. Download a Free Report: http://legacyinsuranceagency.com/alternative

Until next time,
Barry page, RFC

Barry Page is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.
He has created a service that caters to families and business owners that are frustrated with the risks involved with the stock market, but still want competitive returns. His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protect their savings, but also provide tax advantages.

His business is based in Ocean Springs, MS and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

Emergency Financial Planning – Are you ready for what’s next?

Are you planning for an emergency financial situation? Will you prosper or get plundered in the future?

You already have access to the news and you can choose to read, watch or listen to whatever you want to. There’s good news and bad news in most every story, but how do you decipher the good from the bad? And, who do you trust?

The reason that I share this information with you is expose you to different viewpoints that you may not have access to in the mass media, and to allow you to educate yourself on the facts. As my friend and author Nelson Nash says, “If you know the facts, you’ll know what to do.”

So, you think your money is safe in the bank? Here’s a list of troubled banks from Martin Weiss, chairman of Weiss Ratings. They are rated A-F, just like in school.

What would happen if these banks failed? Loans would no longer be available, fear would prevail, and if your bank failed you could lose interest and access to cash.

You may ask yourself, “How are these banks in trouble when we’ve bailed them out, and the Federal Reserve is loaning them money at practically zero-cost?” A number of reasons actually, including greed, overspending and bad loans.

Delinquency rates are increasing and commercial loans are starting to falter. Some in Congress are already asking for more bailout funds. Another massive refinancing program may be enacted soon. http://www.financialstability.gov/latest/pr_05212010.html

Adding to the problems, the Fed has not only already flooded the U.S. economy with upwards of nearly $2 trillion in newly printed money, they have promised to help bailout Europe… With no end in sight as to how much monopoly money the Fed will print, each and every dollar printed is adding to an unlimited supply of fiat currency.

Will the central banks ever tighten monetary policy again? Chances are slim, they are content merely printing money and causing your dollars to lose value through inflation. Thus cash and long-term bonds, traditionally safehavens, may no longer a good place to hold money.

Equities are more volatile than ever, and the markets are in turmoil. Now financial gurus from the mega-media houses are touting that you buy gold and precious metals to combat inflation… and to get rich?

In turn, speculators are buying gold faster than they can mine it. Analysts are forecasting a 27% rally that would extend the longest run of annual gains since the 1920’s. Gold managers are capitalizing on the anxiety and fear… Have you noticed how many advertisements there are telling you to invest in gold?

Ask yourself, how do you make money with gold? Like anything else right? Buy low, sell high… This is almost laughable, since the common man has not a clue about how to do this. Commissions going in or out can average as much as 18%, so you are down 36% before you even make a dime. Do you buy bullion? coins? ETFs??? And… very few even consider taxes.

We are no longer on the gold standard, what happens when and if another standard comes along? Right now the Federal Reserve is printing money at will, so gold no longer backs your dollars.

How do you spend gold? What do you do with 16oz of gold? Assuming you had $20,000 to buy gold in the first place… What if the government confiscates gold? They have before.

Don’t hear me wrong, I’m not saying gold is a bad investment. But… Just like anything else you have no business investing in gold until you have done your research.

With interest rates being low, the government is punishing savers. The financial institutions want you to buy the latest, greatest products, and most advisors are telling you that now is the time to buy. You are also being told to invest on your own and trade online… How is that working out?

Most American’s lost money in the greatest bull market of all time in the 90’s, even with managed money. And, those who thought they made money have lost it since. How do you realize a gain in the market? You have to buy and sell at the right time.

Certainly you can make profits if your timing is right… But that’s a big “IF”.

Do you think we are at the bottom? Do I have to remind you that less than a year ago the Dow was below 7,000? Other analysts and experts are saying we could see another correction soon… plunging the Dow to 5,000! Take a look at the last 10 years of the Dow.

All the while the government and many bond managers are suggesting that you buy bonds for safety and Treasury Inflation Protected Securities (TIPS), others warn this could be a problem as well.

Social Security is beginning to deteriorate and benefit payments are starting to outpace tax receipts. Baby boomers are retiring, putting more strain on Medicare and Social Security. State governments are borrowing money from the federal government to pay for unemployment and entitlement programs.

A more prudent plan may be to step back, learn from history, analyze our problems and make informed, educated decisions.

Okay, enough bad news. So, what can you do? How can you protect your money from loss, earn a decent return, and not get clobbered by taxes and inflation? The answer is simple really, and it’s nothing new… You may think that today’s economic problems are different from those of the past, but they really are not. Money is the same today as it has been for 2,500 years.

The Problems

  • Excess Consumption
  • Excess Spending 
  • Excess Investments 
  • Excess Cash

The Solutions

  • Stop Overspending
  • Control Consumption
  • Maintain Emergency Reserves
  • Make Safe and Prudent Investments

As is often the case, we need to get back to the basics. In his book, The Richest Man in Babylon, George S. Clason outlines financial principles that have survived for centuries.

Here’s my short and updated version.

5 Simple Steps for Preserving and Creating Wealth

1. Pay yourself first

2. Save a minimum of 10%, preferrably 20%

3. Write down your expenses and buy only those things that are necessary

4. Put your money in safe and liquid assets that appreciate in value

5. Insure your income for the future

 
Questions to Ask Yourself Before Moving Your Money 

  1. If interest rates on CD’s and money markets are less than 2%, and inflatin is 3%, why would you put your money there?
  2. If the market is volatile and you can lose your hard earned cash, why would you invest your money there?
  3. If bonds and gold are no more predictable than other commodities, why would you put money there?
  4. If the Government has control, and can change the rules for your IRA, why would you invest there?
Where should you put your money? It’s not a bad idea to own some or all of the above mentioned financial vehicles, but ONLY after you have protected yourself from loss, created an emergency plan and have excess capital to invest.

Now that you have the basics, there is another advanced concept that you may want to learn. The Infinite Banking Concept™ recognizes that we have a need for finance throughout our lifetime. By utilizing this concept, and the power of dividend-paying whole-life insurance, you can recapture the interest that you are now paying to banks and financial institutions. Anytime you can eliminate interest that you pay to others, and direct that same market rate of interest to an entity you own and control, you will have improved your capacity to create wealth. Other benefits may include tax advantages, risk reduction, protection from creditors, disability and death protection.  

In order to make money like the banks do, you need to think like they do… You need to learn and understand banking. You probably already know how to make money with your labors, you just need to understand how your money is flowing and capitalize your own system.

If you do your research you will learn that life insurance has been around for hundreds of years, before the IRS and before the Federal Reserve. Life insurance companies, unlike other businesses, are looking further down the road than the next 5 or 10 years. They are planning for a minimum of 100 years. They have survived depressions, bailouts and crashes.

Mutual life insurance companies are predictable and most have been consistently paying a dividend to policyholders for more than 100 years. Whole life insurance gets BETTER over time. Every policyholder gets the benefit of the same crediting rate, regardless if you buy this year or if you bought it 20 years ago. But, beware of imposters. Universal life, variable life and indexed universal life policies, primarily sold by stock based insurance companies, do not have the same crediting rates, and can have other hazards.

You can take the first steps to securing your financial future today.

Find yourself an agent that practices Infinite Banking: http://infinitebanking.org/links/usagents.php

Read the book, Becoming Your Own Banker™, and do your research, you’ll be glad you did.

Until next time,
Barry Page, RFC
Infinite Banking Think Tank Member
http://www.legacyinsuranceagency.com/

Barry Page is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

He has created a service that caters to families and business owners that are frustrated with the risks involved with the stock market, but still want competitive returns. His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protect their savings, but also provide tax advantages.
His business is based in Ocean Springs, MS and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

Government Budgeting or Tax and Spending?

Debt to Consume 90% of GDP by 2020 According to CBO

Just this week the Congressional Budget Office (CBO) released the administration’s budget numbers, reflecting the debt to Gross Domestic Product (GDP). According to their own predictions, debt will consume 90% of GDP by the year 2020.

How can we as citizens depend on a government who can not live within its means? We must live within our means in order to survive, yet our politicians refuse not to. Instead they live off of taxpayers as a parasite lives off of its host.

According to Merriam-Websters definition of budget: bud·get
Pronunciation: \ˈbə-jət\ a : a statement of the financial position of an administration for a definite period of time based on estimates of expenditures during the period and proposals for financing them b : a plan for the coordination of resources and expenditures c : the amount of money that is available for, required for, or assigned to a particular purpose.

Does it sound like the administration has planned for financing their expenditures? Do you think they have the resources available for funding their proposals? Where do you think they will get the money?

Take a look at the history of the marginal Federal Income Tax:

You’ll notice that taxes spiked up considerably after the “Great Depression” and when Social Security was created. Do you see any similarities today?

Of course, you understand that you also pay other taxes. As a matter of fact in recent years personal taxes increased 42% faster than personal income. State and local government taxes increased 168% faster than national income. The typical American pays more in taxes than they do on food, shelter, and clothing combined.

Here are some examples of taxes we pay. State Income Tax, Social Security Tax, Medicare Tax, Property Tax, School Tax, Sales Tax, Water Tax, City Tax, County Tax, Gasoline Tax, Airport Tax, Hotel Tax, Cable TV Tax, Unemployment Tax, Cigarette Tax, Corporate Income Tax, Marriage License Tax, Liquor Tax, Fishing License Tax, Food and Beverage Tax, Hunting License Tax, Road Usage Tax (truckers), Estate Tax, Luxury Tax, Recreational Vehicle Tax, Utility Tax, Septic Permit Tax, Well Permit Tax, Road Toll Booth Tax, Vehicle Sales Tax, Workers Compensation Tax, Trailer Reg. Tax, Watercraft Registration Tax, Long Term Capital Gains Tax, Short Term Capital Gains Tax, Telephone Federal Excise Tax, Telephone State and Local Tax, Telephone Usage Charge Tax, Telephone Federal Universal Service Fee Tax.

There are few ways that you can shelter your money from the onslaught of taxes, so we must consider them all when doing our own budgeting. One such way is by NOT depending on the government. Are you the least bit suspicious when the government creates a plan to give you a tax break on the money that they have taxed you on in the first place. Consider Qualified Plans and the Federal Income Tax.

Another option you may want to consider is banking, but not in the sense that you may be accustomed to. For example, do you find it ironic that the very banks that we as taxpayers were asked to bailout, ask us to invest our money with them? Why is it that banks want to lend us money when we have it, but will not when we need it?

By Becoming Your Own Banker™ and banking with your family you can actually end your dependency on traditional financial institutions and government programs. You can learn how to create a system of finance and your own lifetime bank. https://bankforlife.wordpress.com/

Infinite Banking teaches the process of using your current flow of finances versus consumption of money. Utilizing this concept integrates protection and wealth accumulation enabling you to enhance your assets without creating additional liabilities. Traditional banks understand this, yet they tell us to do the opposite, forcing us into financial slavery.

You owe it to yourself and your family to educate yourself further. Take control of your money now by controlling how your money flows. Read the book Becoming Your Own Banker™ here: http://legacyinsuranceagency.com/byob

Until next time,
Barry Page, RFC

Barry Page is a Registered Financial Consultant and Infinite Banking Coach. His goal is to help families live debt free and create generational wealth. He publishes multiple websites and blogs including this one, and can be reached at http://legacyinsuranceagency.com/contact.html

The TRUTH about Fractional Reserve Lending and The Federal Reserve

Fractional reserve lending is a practice created by the Federal Reserve that allows banks to lend money based on a fraction of the deposits they hold in reserves. Ironically, the majority of banks hold their Tier 1 Capital (reserves they can’t afford to lose) in permanent life insurance, but they won’t tell you that.

Watch this video as Ron Paul tries to get Ben Bernanke to talk about transparency of The Federal Reserve. And, after all is said Barney Frank steps in and says we should certainly look into what Reagan and Nixon did… http://www.youtube.com/watch?v=5gH2U1ly_aM

Currently, Bernanke is trying to end minimum fractional reserve lending for banks, meaning they would have NO LIMITS on lending! At the present time, banks may not create any more than $9 in additional loans for each $1 they hold in reserve. However, Federal Reserve Chairman Bernanke suggests that this may be changed to ANY amount in loans REGARDLESS of what is held in reserve. If this happens, fractional-reserve banking will become zero-reserve banking, and hyperinflation will occur.

All of this was predicted in The Creature From Jekyll Island: http://legacyinsuranceagency.com/creature.html

Meanwhile, China is raising their fractional reserve limits: http://www.worldmarketmedia.com/970/section.aspx/916/china-to-raise-reserve-requirement-ratioagain

If you are concerned about your family’s financial future, this is all the more reason for you to create a system of finance that is not dependent on banks or the government. Learn how: http://legacyinsuranceagency.com/IBC/theinfinitebankingconcept.html

Until next time,
Barry Page, RFC

Barry Page is a Registered Financial Consultant and helps families to live debt free and create generational wealth. He publishes multiple websites and blogs including this one, and can be reached at http://legacyinsuranceagency.com/contact.html

8 Scary Truths About Your IRA

8 Scary Truths About Your Qualified Plan (IRA)
And, How To Avoid Being Taxed to Death!

If you are pondering the thought of contributing more than your match to your 401k or whether or not to make an end of year contribution to your IRA, THINK AGAIN!

Before you put another dime into your 401k, 403b, TSP, SEP or other IRA you need to know what the government and your employer aren’t telling you. And, the truth may scare you!

Here are the scary facts about qualified plans that you’ll want to know.

SCARY TRUTH #1:
While many people think their Qualified Plans, that’s your 401k, 403b, TSP, SEP or IRA, save taxes; they don’t.
They do 2 things:
1. They defer tax
2. They defer the tax calculation

SCARY TRUTH #2:
Your employer may be making decisions about how your 401k is managed, without your knowledge. More and more employers are now automatically directing more of their employee’s pay into their 401k, and often it is into more risky investments; even though you may have previously chosen your own investments. Much of the money is being re-directed into “target-date” mutual funds, These funds lost so much money last year, that lawmakers and regulators are now analyzing and scrutinizing their actions. Morningstar reported that many that were at or near retirement with these type funds, suffered losses of 32 to 41 percent.

Even scarier, the fees charged on target-date funds are “significantly higher than those charged by other funds on plans’ investment menus” according to MoneyCentral.msn.com on October 10, 2009.

In comparison, the growth in a properly funded permanent life contract is both guaranteed and exponential. You can also predict the minimum guaranteed value of the plan, the minimum guaranteed income you can take from the policy, and how long you could take the withdrawal.

SCARY TRUTH #3:
Many of the important decisions about your employer sponsored IRA (401k, 403b, TSP, etc) may be made by people who may have No Training or education.

According to the November, 2009 issue of SmartMoney Magazine (“The Accidental 401k Planner”), as many as 90% of the country’s employees’ 401k plans are watched over by people who “need no special qualifications and no investing expertise or experience”. Many managers hire brokers to suggest mutual funds, and brokers are not legally required to choose funds with low fees, so the outcome could cost you tens of thousands of dollars over your lifetime.

SCARY TRUTH #4:
The true impact on your wealth from 401k hidden fees is ENORMOUS! While you may be aware of some charges, many fees are not required to be disclosed to you in the 401k or mutual fund prospectus.

And, even scarier, according to a 60 Minutes report, “401k Recession”, over your working career, this can result in your losing up to half of your nest egg!

By utilizing the Infinite Banking Concept™, you can kiss hidden fees goodbye. All costs are already included in the premium, and by properly funding a participateing whole-life policy, you will actually experience reduced costs that are associated with other contracts. So, why not request a Free, No Obligation Financial Analysis now?

Just click the link below to start enjoying the benefits: http://legacyinsuranceagency.com/financialanalysis.html

SCARY TRUTH #5:
As you near retirement your money in your 401k is more at risk. This is because the losses can be greater as your plan accumulates over time. A market loss in your last working years could be devastating. In a recent story in Time Magazine (“Why It’s Time to Retire the 401k”, October 9, 2009), they reported that during the recent market downturn, 401k’s of 55-to-65-year-olds lost a quarter more than those of their 35-to-45-year-old counterparts.

A dividend paying, whole-life policy actually becomes more efficient over time, and can provide you with peak growth at retirement, when you will need it most, without the risk associated with the stock market or other investments.

SCARY TRUTH #6:
Borrowing from your 401k can cause double taxation! If you borrow money from your 401k, for any reason before you’re 59½, in most cases you’re required to pay back any loans back in full with interest within 30 to 60 days, or you’ll have to pay income taxes, PLUS a 10% penalty. But, what’s worse is when you repay the loan you are using after tax dollars, so you will end up being taxed again upon distribution.

With a whole-life contract you can set the rules for borrowing and repaying the loan. And, the money received from loans is tax-free up to the cost-basis. Another benefit is that a properly funded policy will also continue to grow, even with a loan against it. A properly trained agent can show you how to receive even more tax advantages from your policy. The average family could expect to recapture hundreds of thousands of dollars over their lifetimes, just by using their life policies as a resource, without having to depend on banks or other financial institutions.

SCARY TRUTH #7:
Deferring income taxes could cause you to PAY MORE IN TAXES! And, that’s assuming tax-rates don’t increase at all. If you are deferring taxes now in a lower bracket, and you get normal cost of living raises, at retirement you could be in a higher tax bracket resulting in a higher tax rate. If taxes go up in the future, then things get even worse.

With a Maximum Efficient Contract, you could enjoy as much as a 150% better lifestyle at retirement without even touching your life insurance policy. If you make withdrawals from your policy, they could be completely income-tax free under current tax law.

SCARY TRUTH #8:
The government is in control of your Qualified Plan! And, just as they change tax laws every year, they can change the rules for your IRA. Think about what’s going on right now with government spending. Where will the money come from to fund these bailouts? Do you know that Congress has changed the rules on taxation of Social Security over the years so that now as much as 85% of Social Security income can be taxed?

So, why not take advantage of a properly funded whole-life policy that can give you protection and peace of mind without government control?

Qualified Plans: Trick or Treat?

Have a wonderful Fall Holiday!
Barry Page
Infinite Banking Think Tank Member
Financial Consultant
www.legacyinsuranceagency.com

Learn more about Infinite Banking here: www.infinitebanking.org