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Suze Orman: Follow Her Example – Not Her Advice!

“…We place a lot of “stock” in the so-called “experts” and financial celebrities…. Unfortunately what they do and what they say are of two opposing philosophies.”
- Wealthicity.com

actions-vs-wordsActions Speak Louder Than Words

It seems that the best advice can be learned not from listening to financial corporations and so-called experts, but by watching what they DO.

Banks put billions of dollars into “BOLI” – bank-owned permanent life insurance  - while advising their customers to put their money into savings accounts and CD’s earning next to nothing. In a recent video from the Palm Beach Letter, a finance insider confessed that many financial gurus and professionals have none of their own dollars in the stock market.

In Suze Orman’s case, there is also a distinct gap between what she advises and the actions she takes – a gap is so wide that one blogger stated she must hate the financial advice she doles out through books and TV! Continue reading

Posted in ENTREPRENEURSHIP, INSURANCE ADVICE, INVESTING ADVICE, PERSONAL FINANCES, WHOLE LIFE INSURANCE | Tagged , , , , | Leave a comment

5 Steps to Financial Stress Relief – in Any Circumstance

“Security is mostly a superstition.”
- Helen Keller

Businesswoman meditating on a mound of cashLast week. we published an Independence Day post about how to get free of a job that makes you miserable.

Today, we continue our “freedom” theme with a guest post from Kate Phillips of Total Wealth Coaching. Kate is a financial therapist (she likes to call it “Prosperity Therapy”) who is an expert on financial stress relief.

Five Steps to Free Yourself from Financial Stress NOW!

One of the reasons financial stress affects so many people is that we misunderstand what it IS. One of the myths of financial stress – and there are several – is that financial stress will go away just as soon as our circumstances change… i.e., “Just as soon as I have more money, I will no longer worry about money.”

Occasionally this is true. But more often than not, “enough” becomes a moving target.

When I started helping people conquer financial stress through workshops and coaching, I noticed something very striking… Continue reading

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Should You Work a Job You Hate “Just for the Money”?

In Celebration of True Independence: Finding the Freedom to Do What You Love! 

Get rid of that thoughtEspecially this time of year, there is a lot of talk about “Financial Freedom” and “Financial Independence.” But what do we mean by that?

What is usually meant by Financial Freedom or Independence is that we no longer “have” to work for a living; we are free from reliance on a job. No doubt it is the worthy goal of millions if not billions of people to put themselves in a position where they have enough money, assets, and (especially) cash flow so that they are financially secure for the rest of their lives.

But “freedom” and “independence” aren’t just an amount of money in a 401(k), or even a dollar amount of reliable cash flow. Freedom begins where all things begin – in our minds. Continue reading

Posted in BRIDGE LOAN INVESTMENTS, ENTREPRENEURSHIP, PERSONAL FINANCES, PROSPERITY MINDSET | Tagged , , , | 1 Comment

Not-So-Smart Planning: Is “Conventional Wisdom” Threatening Your Financial Future?

My Conversation with Elder law Attorney Nicole Wipp on the Smart Planning 101 Podcast

“Financial Planning Does Not Work.”
- Nicole Wipp

Nicole Wipp Nicole Wipp of the Smart Planning 101 Show  is an Elder Law Attorney who grew up in a once-close family in Michigan. They spent every Sunday together (“everyone – kids and grandkids”), attending church in the morning followed by afternoons at her grandparents’ home.

Unfortunately, her family became fractured following her grandparents’ deaths, starting with arguments over funeral arrangements and going downhill from there. As close as they had been, Nicole’s family was not immune from challenges such as misunderstandings, legitimate disagreements, meddling spouses, divorce (children), taxes, probate, and expenses not planned for. Continue reading

Posted in 401K's & IRA's, ALTERNATIVE INVESTMENTS, PERSONAL FINANCES, RETIREMENT PLANNING | Tagged , , , , , , | Leave a comment

Is Whole Life Insurance a Good Investment? Busting the ROI Illusion

“Whenever I hear a financial consultant (or anyone) talk about less expensive premiums for term, I know they really don’t understand how this animal of properly designed whole life insurance really works.”
- DailyFinance.com

The question Where to Invest and many arrows pointing you to various investment choices to grow yourIs whole life insurance a good investment?”

Few financial questions have ever sparked more controversy than this one. One post on a blog about investing for doctors (which asserted whole life should be avoided) produced more controversy, comments, and “hate mail” than all of his other posts combined – a current total of 764 comments, which the author/moderator warns readers “may take you over 4 hours to read.”

The short answer to “Is Whole Life Insurance a Good Answer” may shock you if you’ve been reading our blog  for long, because, NO, we don’t consider it to be a good “investment”!

Continue reading

Posted in CASH VALUE INSURANCE, INSURANCE ADVICE, WHOLE LIFE INSURANCE | Tagged , , | Leave a comment

Peer Lending Investing Success Story: Beating the Odds (and the Experts)

“…peer-to-peer (P2P) lending has finally earned its place on an income investor’s menu.”
-Forbes.com

Peer-lending-ROINat Harward is no average 20-something. He owns a strategy consulting firm which he started in 2012 after being an account manager at a New York PR firm. He’s a self-taught investor – and now an investment mentor – who describes himself as being “obsessed” with personal finance since his childhood. And his portfolio has been boasting impressive returns of around 20% – net – outside of the stock market. Continue reading

Posted in ALTERNATIVE INVESTMENTS, CASH FLOW INVESTMENTS, ECONOMIC TRENDS, INVESTING ADVICE, WEALTH-BUILDING | Tagged , , , , | 1 Comment

Peer to Peer Lending: How Investors Are Earning Double-Digit Returns… by Helping Strangers!

“If you haven’t heard of Peer to Peer Lending you are missing out on what is turning to be a very hot investing opportunity.”
Jeff Rose, The Huffington Post

businessman giving moneyIf you’ve read our blog for long, you’ll know we don’t recommend typical financial strategies. We’re not impressed with qualified retirement plans with guaranteed fees and future taxes (but no guaranteed gains), a stock market that seems to be increasing in volatility, or professional money managers who often can’t outperform monkeys, cats, or dartboards.

But we ARE outright evangelists for the alternative investments (outside the stock market) that DO work for our clients. And one that we recommend for consideration to some of our clients is Peer Lending,  also called peer-to-peer lending, P2P lending, or simply P2P for short.

What is Peer Lending?

Peer Lending is simply people lending money to other people online through peer lending websites. It has proven extremely popular both with people looking for loans below bank rates, and investors wanting to earn a competitive rate of return on their money for either growth or cash flow purposes.

Essentially, P2P lending cuts banks out of the financing equation and lets both borrowers and lenders benefit. The graphic from Lending Club below illustrates this: Continue reading

Posted in ALTERNATIVE INVESTMENTS, ECONOMIC TRENDS, PERSONAL FINANCES, WEALTH-BUILDING | Tagged , , , | 3 Comments