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Article ArchivesThe Riskiest InvestmentSome folks just can’t stand the thought of losing money. Well-meaning investors, fearful of the fluctuations of the stock market, decide the safest place to put their nest egg is in the ‘safety’ of fixed investments, like CDs or government bonds. They’ve heard horror stories of friends who lost a bundle in the 90’s ‘Tech Bubble’ or in the aftermath of 9/11. “That’ll never happen to me,” they say. “I’ll never put my nest egg at risk.” But they don’t realize that their actions are bringing about the very thing they fear the most. Profiting in 2005 This time last year I predicted that the stock market would go up around 8% and that the return on bonds would be lower than people had come to expect over the last 20 years. Those following my advice averaged 8-10% on their money last year. So what is your plan for 2005? Getting the Most Out of Your 401(k) If your boss handed you an envelope filled with cash, would you throw it away? Of course not! But employees do it every day. And that’s not the only mistake they make. I often come across investors who have made simple, yet costly mistakes in their company retirement accounts (401(k)s). If you or your spouse have a 401(k) account, read on to make sure you aren’t making the same mistakes. Drunk Driver Ruins Financial Future Clyde and Claudette’s financial future is now ruined! Make sure it doesn’t happen to you. These tips will help you protect yourself from the time-bomb that devastated them. Performance Really Does Matter Hey Guys, it turns out performance really does matter! No, I’m not talking about what you think—I’m referring to the performance of your investments! One mistake people often make is forgetting that investment performance impacts their lifestyle. Don’t Be Taken by B-Shares Thanks to increased scrutiny by federal and state regulators, the mutual fund industry is closely reevaluating its practices and policies. One of the most popular fund share choices of the past several years has come under question. In fact, the nation’s fourth largest provider of mutual funds recently announced they will no longer offer this option. Read on to learn how all this may affect you. Don’t Let Health Care Costs Hijack Your Retirement One of the greatest financial challenges faced by today’s retirees is the rising cost of health care. Prescriptions, insurance premiums, doctor’s office visits and hospital stays are all increasing more rapidly than inflation. Whether you’re in your golden years or fast approaching them, you must take a serious look at how health care costs will affect your retirement nest egg. Do An Advisor’s Designations Really Matter? Selecting a financial advisor is one of the most important decisions you will make–especially if that advisor will be involved in decisions affecting your retirement nest egg. One factor most people consider is the advisor’s designations. The three most common designations are the Certified Financial Planner™ Professional™ (CFP®), Chartered Life Underwriter (CLU), Chartered Financial Consultant (ChFC), but there are many others. These designations are designed to give you the impression that one advisor is more qualified than another and thus a better choice for you. But is that true? Read on as I reveal the hidden truth behind these confusing designations. Warning: This Is Dangerous Financial Advice Your financial advisor may NOT be required to act in your best interest and you may be receiving dangerous advice that could cost you a fortune. Read on and I will reveal how you can recognize the warning signs—it’s one of the industry’s best kept secrets. The Next Big Scandal I believe that Equity Indexed Annuities and the sales practices used to sell them may well be the Next Big Investment Scandal you will hear about. You need to understand why and to think twice before you purchase one of these products. Prepare for After Election Financial Impact After months of buildup, the presidential election is finally over. Now that the dust has settled, it’s important to understand how the results might affect your portfolio, both now and down the road. Protect Your Beneficiary’s Inheritance An inheritance is the precious fruit of years of labor. It is an expression of love. Nowadays, more than ever, an inheritance is something that should be protected. All too often, inheritances are squandered or lost because of a lack of planning by those giving it. Read on to discover how to easily change that. Investors Have Been Duped The financial services industry has duped unsuspecting investors out of millions of dollars. For decades, they’ve said the best way to invest was to buy an investment and hold it decades. I think they’re crazy! Exchanging Real Estate Tax Free No one likes writing Uncle Sam large checks. Yet many people needlessly send Uncle 15% of their profit when they sell a rental house or land. There is a simple way to avoid it. It’s called a 1031 exchange and it can keep you from losing tens or hundreds of thousands of dollars in unnecessary taxes and loss of growth. The Biggest Financial Risk Retirees Face As the life expectancy continues to increase, the need for long-term custodial care has become the biggest financial risk today’s retirees face. There are ways to protect your lifestyle and the inheritance you leave your children if you act before it’s too late. Take My Advice and Stop Being a Loser “You’ve won a new car!” Who wouldn’t like to hear those words, be it from Bob Barker or Pat Sajek, or like over 200 lucky audience members, from Oprah Winfrey? Mega-instant winners are raking in the goodies with monster home re-models, complete body makeovers and million dollar prizes. But when the bright lights fade and the TV cameras are gone, the winner can feel like a loser with an enormous tax bill. Buy & Hold Hammers Retirees: Financial Industry Fails To Recognize Danger It’s time someone stands up and says it: The Buy and Hold philosophy of investing is inherently dangerous for those who are retired or near retirement. It is responsible for literally millions of retirees being forced to go back to work. Yet the Financial Services industry, whose profits are built on the Buy and Hold philosophy, refuses to make changes necessary to better serve these investors. Planning To Make Your Money Last Forever It’s true that you can’t take it with you, but many are becoming more concerned about what happens to what they leave behind. Thanks to some recent changes in estate laws, strategies that were once only doable by the extremely wealthy are now more accessible by those of more modest means. Read on to see if you can take advantage of these estate planning tools and create a living legacy for your family. Inaccurate Medical History Can Give You A Heart Attack You may be paying too much for health, life or long-term care insurance! I know because a life insurance company recently tried to charge me double. My experience may save you money and keep you from being turned down the next time you apply for insurance. Bum or Shining Star? Is your financial advisor a bum or a shining star? Read on and I’ll show you a simple way to find out! It’s NOT The Yield That Matters Have the low interest rates available lately tempted you to reach for higher rates in new places? Low interest rate environments always make it difficult for those who rely on the income from their investments to support their lifestyle. But before you start searching for sources that provide a greater return, it is vital that you understand that it’s not the yield that matters. How To Make $100,000 An Hour It may seem unbelievable but it’s possible to make hundreds of thousands of dollars in a matter of hours–legally and tax-free. To see if you qualify, read on. Equity-Indexed Annuities: Don’t Take The Bait Anyone who’s been fishing knows that one of the keys to catching the big one is having the right kind of bait. Many in the financial services industry understand this truth all to well and they’ve come up with the perfect enticement to hook unsuspecting investors. It’s called the equity-indexed annuity (EIA) and chances are, if you’ve visited a traditional advisor recently, you’ve heard its compelling pitch. It’s OK To Play Defense Football season is coming! Those teams hoping to make it to the top can’t just rely on a good offense. They know they’ll need a great defense as well. It is the same way when it comes to managing your money. With several major issues affecting the markets, it may be time to add some defensive plays to your portfolio playbook. Rethinking Your Financial Security If a terrorist event happened right now, could your lifestyle be put at risk? Retirees and those nearing retirement can’t afford to sit around and be at the mercy of the market. If you want to protect your comfortable lifestyle in the event of a terrorist attack, here are three things you need to do... Mutual Fund Investors Beware! Investing in mutual funds may not be as attractive as it used to be! There’s an industry-wide shift occurring that is certain to affect you. Across the board, mutual fund companies are imposing redemption fees. Whether you invest in no-load funds, big funds, small funds through your 401(k), understanding these changes is essential. The ABCs of ETFs Are you afraid of ‘spiders’? No, I’m not talking about those hairy, eight-legged creatures. I’m talking about Exchange-Traded Funds (ETFs). It is important you understand this investment vehicle because they offer several advantages over mutual funds. Read on to find out how ‘spiders’ and other Exchange-Traded Funds can be a valuable part of your portfolio. Rising Interest Rates: Another Reason to Avoid Equity-Indexed Annuities Rising interest rates are another reason to avoid Equity-Indexed Annuities. If you are retired or near retirement, don’t let yourself be talked into purchasing an Equity-Indexed Annuity. If you do, it could easily be a decision you regret for many years to come. How To Increase Your Investment Income Recent actions by the Federal Reserve will have a big impact on the interest rates paid on investments. Their actions mean you may need to use a different strategy if you depend on your investments for income! Read on to find out how you can boost your income with little risk, but only if you are patient. When Friends and Family Want YOUR Money Few situations have a greater potential for problems as when dealing with money and relatives. If you’ve ever had a child ask you for a loan or a distant relative request money to start a business, then you know just how touchy these situations can be. Here are some real-life situations, along with some simple steps to help you safely navigate the tricky waters that result from mixing family and finances. Surviving Your Estate Recently I shared the heart-wrenching story of a young soldier who had to deal with the unexpected death of his mother. She didn’t have her affairs in order and now her son has the extremely difficult task of recreating her financial details from scratch. Here are some simple steps you can take to ensure that your loved ones aren’t left in a lurch. When The Battle Begins At Home I received a heart-wrenching phone call from a young soldier recently. His mother had just died and he was left with the responsibility of settling her estate. He had no idea the difficulties he would encounter—not on the battlefield but here in East Tennessee. The worst part is it could have been completely avoided. Could Terrorism Strike Your Nest Egg? Readers from all across America have contacted me because they’re afraid of the impact a terrorist event could have on their nest egg. They’re losing sleep because they’re afraid that they’ll wake up one morning to discover another deadly attack has struck American soil, sending the markets into a downward spiral and evaporating their life’s savings. Their concerns are valid. Q & A: Stretching an IRA Many of you are interested in using your IRAs to generate tremendous wealth for you and your children. My recent articles on the topic have generated tens of thousands of hits on the internet in just a couple weeks. In this article, I will share responses to questions from readers that explain the details of ‘stretching’ your IRA. Don’t Let Uncle Sam Take 80% of Your IRA Could you lose over 80% of your IRA to taxes when you die? Yes, unless you act before it’s too late. Read on to find out if this affects you and how you can minimize the effect of taxes on your IRA. How to Stretch Your IRA Tax-FREE Income taxes are a great inhibitor to building wealth. I’ve talked about the power of stretching an IRA across multiple generations and how it can build tremendous wealth. Now, I’ll show you how it can be done income tax-free. How To Make Millions…Legally I’m going to share a little-known secret that can literally turn a small amount of money into millions of dollars. It’s all perfectly legal and is sanctioned by the IRS to boot! I’m talking about the wonders of “stretching” your Individual Retirement Account (IRA). Does Your Advisor Fill The Gap? There is a wide gap between what many investors expect from their advisor and what the advisor actually delivers. This gap is a great source of frustration, anger and ultimately sleepless nights. Read on to find out how to recognize the gaps, fill them, or better yet, avoid them altogether. |
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