re: Safeguarding your credit: Interview with Rondi Lambeth (excerpt)
by Teresa Kuhn, JD, RFC, CSA
Authorized Bank on Yourself (r) Advisor
Credit is crucial to your financial well-being.
That's why I tell my clients that no matter how badly they may have been burned by credit card issuers in the past, no matter how much they want to get the scissors out and cut up those cards and close those accounts..
It's simply a very bad idea to do so. Recently, I interviewed author and credit repair expert Rondi Lambeth and he told us how to avoid making credit mistakes that might affect your financial life forever.
And... he told us that people with bad credit need not lose hope.
Check out this short excerpt right now and be sure to go to
LivingWealthyradiocom for the rest of the story.
Tuesday, May 29, 2012
Monday, May 14, 2012
This Pulitzer-Prize (c) Nominated Journalist Is Now A Believer...
re: Now he's a believer, too!
Check out the short excerpt from my interview with Pulitzer-prize nominated journalist and former Wall Street insider, Dean Rotbart. Dean explains how he was asked to pick apart the Bank on Yourself (r) system and how he came to believe what millions of us already know:
It works!
Check out the short excerpt from my interview with Pulitzer-prize nominated journalist and former Wall Street insider, Dean Rotbart. Dean explains how he was asked to pick apart the Bank on Yourself (r) system and how he came to believe what millions of us already know:
It works!
Wednesday, May 9, 2012
Why Finance It Yourself? What Pamela Yellen Says...
re:Interview with Bank On Yourself author Pamela Yellen (9 minute excerpt)
by Teresa Kuhn, JD, RFC, CSA
Authorized Bank On Yourself (r) Advisor
Several months ago, on my Living Wealthy Radio show... I was privileged to have the chance to interview New York Times bestselling author (Bank on Yourself) , Pamela Yellen.
For your convenience, I have condensed the interview down to under ten minutes and I'd love to share it with you.
by Teresa Kuhn, JD, RFC, CSA
Authorized Bank On Yourself (r) Advisor
Several months ago, on my Living Wealthy Radio show... I was privileged to have the chance to interview New York Times bestselling author (Bank on Yourself) , Pamela Yellen.
For your convenience, I have condensed the interview down to under ten minutes and I'd love to share it with you.
PS: I encourage you to get a copy of Pamela's free, in-depth report. Just go to www.findoutmorenow.com and enter code TK93.
Friday, May 4, 2012
re: This is what banks and Wall Street con artists can do to YOUR future...
bt Teresa Kuhn, JD, RFC, CSA
Living Wealthy Radio
Authorized Bank on Yourself (R) Advisor
“When it becomes serious, you have to lie.”
-Luxembourg’s Prime Minister Jean-Claude Juncker- Meeting Chair, Eurozone Finance Ministers
Hardly a day goes by in this angst-infected, shell-shocked world in which we live, without at least one juicy scandal making its' way from the seamy underbelly of Wall Street to your TV set.
According to producers of PBS' Frontline program, "Since the crash of ‘08, banks have paid out more than $80 billion in
bonuses. Since 2007, the five biggest banks in America have become
larger. Today, they control assets equal to 56 percent of the American
economy."
80 BILLION in perks? 56% of the economy? How can this be?
Well a lot of it has to do with ripping off consumers and taxpayers by charging outrageous (and often hidden) interest rates and fees... taking bailout money (thanks, taxpayers!) and just plain, old-fashioned cheating.
The sad part of it all is that it doesn't have to be this way.
You see, although banks and Wall Street work their marketing departments overtime to get you to believe that they are your only choice for financing, there ARE actually other options that will cause you less stress and treat your money a lot better in the long run.
The method I use to keep my clients' hard-earned assets from being ravaged on the Street is one which has been used by wealthy individuals for over 200 years... and has proven itself to be stable, reliable, and extremely resistant to risk.
My version of this system, Bank on Yourself, was developed by bestselling author Pamela Yellen.
Hear Pamela explain 7 reasons why Bank on Yourself is an excellent alternative to traditional retirement planning in this short video:
Also, get my free report by going to http://www.findoutmorenow.com. Enter CODE TK93 when prompted to get your report.
You owe it to yourself and your family's financial future to see why financing major purchases yourself can lead to a wealthier, more secure second half of your life.
Thursday, May 3, 2012
re: why you should consider financing your business...yourself
by Teresa Kuhn, JD, RFC, CSA
Authorized Bank on Yourself (tm) Advisor
In my discussions with people about how they can achieve financial fitness, one topic that comes up fairly frequently is the idea of starting one's own business.
While there are lots of good reasons to do so (tax advantages, creating a bigger income stream, etc.) there are also some common pitfalls, especially in the areas of how to finance and grow the business.
Banks are the most frequently used sources of funding for start-ups as well as for businesses that want to expand or franchise.
Unfortunately, as we all know, working with banks can be frustrating and expensive, particularly if you have no established business credit and/or your personal credit is less than stellar. You might be able to get a loan after jumping through the requisite number of hoops and pleading on bended knees...
But the interest you will pay will take a nice chunk out of your profits and leave you wishing there was another way.
Becoming Your Own Source of Financing Is That Way!
When it comes to money, all businesses, regardless of size, need at least three things: working capital, legal ways to pay less in taxes, and a way to transfer proceeds from the business to the owner or owners.
Creating your own private financing system, such as the highly-customized ones I create for my Bank on Yourself clients, solves all of these issues in a way that provides business owners with the ultimate flexibility,use, and control of their money.
When you create your own personal finance system, you essentially recapture money that you would have otherwise paid to third party lending institutions, such as banks, finance companies, and credit card companies.
Redirecting that money, when done using a specialized whole life policy like the ones I structure for my clients is a great way to regain the control you relinquish when you borrow from third party lenders.
Also, as you use your "private finance company" to make loans to your business, you create tax deductions for both you and your business that put additional money in your pocket.
If you are a business owner, or potential business owner, then you need to learn more about the particular characteristics of a properly structured whole life policy which allow it to function more like a private finance company than insurance.
I would love to discuss these characteristics with you and show you how you can start putting them to work for you now...
PS: Get instant access to two free audios about how you can break the vise grip of banks and Wall Street.. Go here now to listen!
http://www.ibankonme.com/
Friday, April 27, 2012
re: are you getting your financial advice from the same people who told you looked awesome on prom night?
by Teresa Kuhn, JD. RFC. CSA
Authorized Bank on Yourself (r) Advisor
1. Most of the term policies advocated by financial "experts" do not increase the
A $250,000 20 year term policy,adjusted for 4% inflation, will have
lost 56% of its' value!
Even policies which include an "increasing benefits rider" may not increase at a rate that
will overcome the demon of inflation.
These policies are only written by a few select companies and have special provisions
(No, this is NOT my prom picture, lol!)
by Teresa Kuhn, JD. RFC. CSA
Authorized Bank on Yourself (r) Advisor
One of the most pervasive
pieces of financial misinformation I have heard over the years is the venerable
and oft-repeated mantra:
"Buy term and
invest the difference"
You've heard it on TV...
or from your mom who
waggled her finger at you while she said it...
Your insurance guy friend
swears it is the ONLY WAY TO GO...
your plumber, barber,
fishing buddy, etc...
they're all true believers
in this concept...
"Buy term and invest
the difference sounds simple enough...
it evens makes sense on the surface..
However, when you dig a
little deeper,
there are issues which "buy term and invest the difference" doesn't address.
For example:
there are issues which "buy term and invest the difference" doesn't address.
For example:
1. Most of the term policies advocated by financial "experts" do not increase the
death benefit level during the policy term. This means there is no remedy
for inflation.
(and I believe that inflation is bound to be much higher in the future!).
(and I believe that inflation is bound to be much higher in the future!).
Bestselling
author (Bank on Yourself) Pamela Yellen did the math and
she figured it
out. According to Pamela:
A $250,000 20 year term policy,adjusted for 4% inflation, will have
lost 56% of its' value!
Even policies which include an "increasing benefits rider" may not increase at a rate that
will overcome the demon of inflation.
2. Your future poor
health: Some term policies are written so that if your health
deteriorates during the policy term- your renewal rates increase.
And if you don't renew and try to seek coverage elsewhere, you might discover that
you are
uninsurable- at ANY price.
3. You can invest the difference easily enough, but you can't "time the market" or
3. You can invest the difference easily enough, but you can't "time the market" or
accurately predict how much money will be in your account when it comes time to retire.
With
the types of accounts I design for my clients, they always know exactly how
much
they have. They don't have to worry about timing the ups and downs of the
stock
market. When they need it-the money is there.
4. "Buy term and invest
the difference" advocates usually know nothing about the
specially-designed whole life policies I use to structure my financial plans.
specially-designed whole life policies I use to structure my financial plans.
These policies are only written by a few select companies and have special provisions
which are unlike those of traditional whole life. Any advisor who assists their
clients with
these policies must have thorough training.
That agent must also be willing to forego the
usual high commissions on whole
life
in order to make the plan work for their clients.
The policies used in self-financing are far beyond regular whole life policies in both
The policies used in self-financing are far beyond regular whole life policies in both
complexity and purpose.
5. When evaluating plans
such as the one I recommend to my clients, the financial gurus
don't factor in the tremendous amount of money my clients save on interest and fees.
By financing your large purchases (ex: your car) yourself, you avoid having to pay
don't factor in the tremendous amount of money my clients save on interest and fees.
By financing your large purchases (ex: your car) yourself, you avoid having to pay
thousands of dollars in interest and fees. (my clients LOVE this!)
Now, just for the
record...
I believe that everyone
who can afford to do so should have as much life insurance as possible.
Term IS a great way to get
more coverage for less money and if you can get term- you should have it.
However, the primary
reason for getting one of the specially-designed whole life policies has little
to do with with the death benefit...
Instead, the idea behind
these policies is to provide you with a savings vehicle that gives you growth,
stability, and safety in sharp contrast to the ups and downs of the stock
market.
Also, you will be able to
pay YOURSELF the interest you used to pay when you
borrowed from banks or loan companies, enabling your account to grow at a much
faster rate than ordinary whole life...
The permanent insurance
you also get is just icing on the cake...
To learn more about how I
can help you avoid paying too much money to banks and finance companies...
Call me today
Teresa Kuhn, JD, RFC, CSA
www.safeharborboy.com
www.ibankonme.com
www.ibankonmyself.com
www.safeharborboy.com
www.ibankonme.com
www.ibankonmyself.com
Tuesday, April 24, 2012
Seeking What They May Devour...
re: America's last great source of personal wealth makes politicians drool...
by Teresa Kuhn, JD, RFC, CSA
Authorized Bank on Yourself (R) Advisor
If you're like most people... you participate in a 401 K or similar qualified plan. 401 K's, in fact are hands down the most widely held type of retirement savings account in the United States today.
The majority of the few Americans who have any sort of retirement savings have most of that savings invested in the 401 K plans at their work.
That's why, when I discuss"Bank on Yourself" with clients and prospective clients,the subject of 401 K plans usually comes up, with people asking questions such as:
"How much should I contribute to my work plan? Is it truly as safe and secure as I have been lead to believe? What are the tax issues of which I need to be aware?"
Philosophical issues (and there are many) aside, I see many problems with 401 K plans as they now exist.
These include: structural flaws, lack of accountability on the part of fund managers, obfuscated tax requirements and implications,lack of desire on the part of many people to do the work needed to manage their account for maximum benefit,and hidden fees.
For me, however, one of the most overlooked, yet potentially devastating problems with qualified plans such as the 401 K is that participants have virtually no input into rule changes which could prove detrimental to their financial well-being.
In other words, it is a GOVERNMENT plan and the GOVERNMENT can decide at any moment to change the rules and requirements without your knowledge or permission.
Some people think it is "scare-mongering," but many financial and political experts have suggested that, as the pressure to meet unfunded liabilities (aka: "debt") mounts, politicians will begin finding ways to tap into America's last great source of wealth:
The estimated 3.6 trillion dollars Americans have invested in 401 K plans is simply too great a temptation for them to avoid.
While outright confiscation is probably not going to happen, I believe that politicians will concoct a variety of stealthy ways to siphon off 401 K money.
A recent article in the Wall Street Journal discussed these types of stealth moves which should send up ten thousand red flags for anyone with money in a 401 K plan.
Here are some of the proposed changes floating around Capitol Hill according to the Journal:
• IRAs that would automatically enroll workers with no access to a workplace retirement plan, creating a means to save through regular payroll deposits.
• Capping retirement-plan contributions at $20,000 a year or 20% of compensation, whichever is less—including employer contributions. Currently, the limits are 100% of compensation or $50,000 a year.
• Replacing exclusions and deductions for retirement savings with an 18% tax credit, deposited directly into an individual's retirement savings account.
• Accelerating "automatic enrollment" of workers in retirement-savings plans, along with their default savings rate, and automatically increasing workers' savings rates each year.
• Simplifying the paperwork involved for small employers' adopting existing types of plans, with the goal of increasing access for more workers.
When you read between the lines, it's easy to draw the conclusion that most of these changes are being proposed with a view toward increasing the tax revenue coffers rather than really helping Americans plan their financial futures.
(read the rest of the article here:
http://online.wsj.com/article/SB10001424052702304331204577354024207255032.html?mod=rss_markets_main)
I'll be talking more about issues with qualified plans in future editions of the blog. If you have specific questions regarding your unique financial situation, including questions about your 401 K plan, please email them to me at: tbkuhn@gmail.com.
PS: Don't forget to ask me for your free copy of Bank on Yourself, by Pamela Yellen. I have a limited number of these available to people who want to learn how to get the most out of their money.
by Teresa Kuhn, JD, RFC, CSA
Authorized Bank on Yourself (R) Advisor
If you're like most people... you participate in a 401 K or similar qualified plan. 401 K's, in fact are hands down the most widely held type of retirement savings account in the United States today.
The majority of the few Americans who have any sort of retirement savings have most of that savings invested in the 401 K plans at their work.
That's why, when I discuss"Bank on Yourself" with clients and prospective clients,the subject of 401 K plans usually comes up, with people asking questions such as:
"How much should I contribute to my work plan? Is it truly as safe and secure as I have been lead to believe? What are the tax issues of which I need to be aware?"
Philosophical issues (and there are many) aside, I see many problems with 401 K plans as they now exist.
These include: structural flaws, lack of accountability on the part of fund managers, obfuscated tax requirements and implications,lack of desire on the part of many people to do the work needed to manage their account for maximum benefit,and hidden fees.
For me, however, one of the most overlooked, yet potentially devastating problems with qualified plans such as the 401 K is that participants have virtually no input into rule changes which could prove detrimental to their financial well-being.
In other words, it is a GOVERNMENT plan and the GOVERNMENT can decide at any moment to change the rules and requirements without your knowledge or permission.
Some people think it is "scare-mongering," but many financial and political experts have suggested that, as the pressure to meet unfunded liabilities (aka: "debt") mounts, politicians will begin finding ways to tap into America's last great source of wealth:
The estimated 3.6 trillion dollars Americans have invested in 401 K plans is simply too great a temptation for them to avoid.
While outright confiscation is probably not going to happen, I believe that politicians will concoct a variety of stealthy ways to siphon off 401 K money.
A recent article in the Wall Street Journal discussed these types of stealth moves which should send up ten thousand red flags for anyone with money in a 401 K plan.
Here are some of the proposed changes floating around Capitol Hill according to the Journal:
• IRAs that would automatically enroll workers with no access to a workplace retirement plan, creating a means to save through regular payroll deposits.
• Capping retirement-plan contributions at $20,000 a year or 20% of compensation, whichever is less—including employer contributions. Currently, the limits are 100% of compensation or $50,000 a year.
• Replacing exclusions and deductions for retirement savings with an 18% tax credit, deposited directly into an individual's retirement savings account.
• Accelerating "automatic enrollment" of workers in retirement-savings plans, along with their default savings rate, and automatically increasing workers' savings rates each year.
• Simplifying the paperwork involved for small employers' adopting existing types of plans, with the goal of increasing access for more workers.
When you read between the lines, it's easy to draw the conclusion that most of these changes are being proposed with a view toward increasing the tax revenue coffers rather than really helping Americans plan their financial futures.
(read the rest of the article here:
http://online.wsj.com/article/SB10001424052702304331204577354024207255032.html?mod=rss_markets_main)
I'll be talking more about issues with qualified plans in future editions of the blog. If you have specific questions regarding your unique financial situation, including questions about your 401 K plan, please email them to me at: tbkuhn@gmail.com.
PS: Don't forget to ask me for your free copy of Bank on Yourself, by Pamela Yellen. I have a limited number of these available to people who want to learn how to get the most out of their money.
Subscribe to:
Posts (Atom)