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Wednesday, June 30, 2010

The Great State Meltdown’ Begins Tomorrow!

What to Do BEFORE the Muni Bubble Bursts

Tomorrow, something epic will go down in 48 American states.

It might unfold differently from coast to coast. But there is one common thread: that it will be the worst day of 48 governors’ lives.

You probably won’t hear about it when you flip on your local news. But, we’ve warned readers of this day (July 1) for a month.

Yet some private citizens will not take action … or will take the wrong action.

Some will sell their retirement plans for 59 cents on the dollar. Others will sadly double-down on this toxic debt.

By now, most well-informed “sovereign” readers understand that the local governments’ ponzi schemes are about to collapse.
Today, we’ll show you what to expect when states begin to default on their debt – because that day is almost here.

We’ll also show you how to sidestep the worst of this crisis – and profit from the chaos.

History shows that when states, cities or towns default on their debt… conservative investors lose their shirts. (The average muni-bond plummets… by an average of 40.09%!)

So it’s critical that you avoid the bonds of states that are most likely to default.

How?


Find out here! 

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Wednesday, June 16, 2010

What comes after the 401k and IRA?


If you have maxed out the 401k Match and you have Maxed out your IRA for the year.

Next you should have an Individual Taxable Account from TD Ameritrade for Saving and Investing. This should be your emergency fund. The Goal of this account is to get 6-9 months of your current income saved. This will only be used in the event you get hurt, or get fired. You would have 6-9 Months to find a job (Without tapping into your Retirement Savings) The higher income you have typically the longer it takes to find a comparable job.


  • This account can be added to and withdrawn at will, with no penalties at all. The only taxes you pay are those on interest, dividends and gains from your investing.
  • Also This account can have debit and check features
  • Also after  you have save the 6-9 months, everything saved after that should be used for saving and investing for large ticket purchases such as a house. :)
  • Also it would probably be smart for you to carry some disability insurance (You are 70% more likely to be disabled than to die before the age of 75) This way if you got into an accident that kept you from working, the Disability insurance will kick in and pay you an income if you can't work. 
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Friday, June 11, 2010

Letter From A Millionaire - Market Direction

"I agree that Gold Line is probably ripping off customers. The Gold industry is rife with rip-off's and Gold Line is just one among many and so I disagree that Gold Line should be singled out. If they want to be honest, criticize the entire industry.

I also disagree that Glen Beck is responsible. His network FOX sells the advertising time, Gold Line is FOX's customer not Becks. GB does not have the authority at FOX to accept or decline Gold Lines advertisement dollars. I believe this is an effort to cut off Beck's advertising sponsorship in order to shut him up.

Finally, gold is close to its final top and I expect it to then drop into the mid $600's. When this happens, expect more heat on GB. GB believes we are heading into hyper inflation and gold would be the solution if that were the problem. Unfortunately, he is wrong. If we get hyperinflation, it will be a couple of years from now. We are heading into deflation which will not be kind to gold, silver, real estate or stocks for that matter. In fact we are heading into the GREATER DEPRESSION, one that will make the 1930's seem mild by comparison. This should be apparent to everybody by this time next year."


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Tuesday, June 8, 2010

401k? Traditional IRA? Whats the Freakin Difference!

I remember what is was like when I use to get so confused over all of the different IRA options that are out there.

I went to work, worked real hard, worked lots of hours, saved my money, and then had no clue where to put it. I mean I didn't want to loose my money, that didn't make sense.

So many advisers and so many different advices. I decided to figure it out on my own once and for all and be done with it. I learned so much about retirement investment options and vehicles. Often we get so caught up in the detail that we forget the general road map. I don't know about you but I know that I'm guilty of this.

So the first thing to do is have a general road map, Whats that saying "Keep It Simple Stupid" KISS

So here is a quick breakdown of the pro's and cons of the Traditional IRA versus the 401K. And we'll leave the Roth IRA for another day.


There are advantages to both


Advantages of 401k

  • Most companies offer a match  (Free Money)
  • Tax Advantages
Disadvantages of 401k
  • Very Very limited options , can be hard to make money at times

Advantages of a Traditional IRA
  • More Investment Options
  • Easier to make money
  • Tax Advantages
Disadvantages of a Traditional IRA
  • No Employer Match 
Here is the bottom line - Max out the employer match on the 401k. So if your company matches up to 6% only invest up to 6%. To get the match

Any savings beyond that need to be put into an IRA .

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