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Keeping Your American Dream From Turning Into a Nightmare

No doubt that the financial crisis our country is facing may be creating a little worry, fear and panic in our country.

There are financial strategies that can weather this storm. At the same time, remember times like these, MILLIONAIRES are being born and raised. And millionaires are on the path to becoming BILLIONAIRES! Are you rising to he occasion?

Our national webinar and Chicago LIVE event surrounding these financial strategies have caught the attention of the media. In case you missed it, WGN-TN asked us to come on their show.

I was unable to completely go through all my points, so here are the rest and more in detail.

1) Understand your Risk Money vs. Safe Money

There are generally 4 industries in which most people save money. 1) Stock Market 2) Banks and 3) Real Estate and 4) Life Insurance industry. Right now, 3 out of 4 of those have headlined financial disaster for most people! Folks at times get caught up in trying to the “TIME” the market! Even Warren Buffet, the Oracle of Omaha, can’t even time the market! At this point, it may be a good time NOT to maximize your 401(k) plan, not only will it be taxed later in your life but right now, you’re LOSING value quickly! Are you tired of the financial bleeding? I recommend, contribute to the amount that your employer matches, then RE-DIRECT the difference into a safe side fund, in where you can maintain better liquidity and control.

2) Safety of Life Insurance industry –

People today are looking for something safe! Forget the pie-in-the-sky returns! Many people don’t realize that life insurance companies are EXPERT at managing risk. Their exposure to the whole mortgage meltdown and mortgage-backed securities have been about .5%! In other words, people who have had their money in fixed/indexed life insurance policies or fixed/indexed annuities have not felt ANY of the bumps in the road. Today’s modern life insurance policies offer LIVING BENEFITS and not just DEATH BENEFITS. You don’t have to DIE to use the benefits of these policies! We haven’t had a frantic client call our office over the last 3 weeks, 3 months, 3 years WORRIED about where their policy cash values are!
Plus, a maximum-funded properly structured life insurance policy, acts much a Roth IRA, but with additional benefits and WITHOUT heavy government restrictions.

3) Cultivate Relationships –

Text messages, the Internet and the My Space’s have killed human connection. Remember, these are only TOOLS to cultivate relationships, not replace the good ol’ fashioned HAND-SHAKE! People will hire and buy from people they know like and trust! We encourage people to connect with other people, remain active within their circle of friends. Don’t be surprised how willing other people are to help a friend, especially if they know they are in need! If you get laid off or starting a business, you need to know people that will help you connect you to a potential interview or new customer! People don’t realize that they have a lot of VALUE to give to others.

4) Practice Prudence – the tortoise always wins the race! It’s not how you start, or how it goes in the middle…but how you finish! These are great times to buy “on-sale” stock or real estate! But nothing beats having a commitment and consistency to setting aside a percentage of what you earn. Over time, it adds up to a lot of money!

5) Maintain Liquidity –

This goes especially to homeowners. Paying off your mortgage is a mistake! Sending additional payments to your mortgage company INSTEAD of re-directing that to a retirement account is what the Federal Reserve Bank of Chicago states is a mis-allocation of funds that is costing Americans over $1.5 Billion per year! Every dollar you give to the mortgage company is going towards a sinking ship of real estate values. The moment you need that money back, you have to qualify for it and justify to the bank why you need it back. In an emergency situation, what would you rather have…$10,000 of depreciating home equity OR $10,000 in cash?!

6) Invest in Yourself –

Nothing beats creating a better YOU! At the end of the day, all we can control is our thoughts and actions. You want great things? Have great THOUGHTS! It is always a great time to become a better you and I hope 6 months we are ALL better people! With the Internet as your marketplace, the world is waiting for you to turn your hobby into a profitable passion. What’s keeping you from writing a “How To Book” or professional coaching service. Your experiences in life can IMPACT the lives of many others! What you take for granted is someone else’s treasure!

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