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Missed Fortune – Sorry, Big Banks, But Sorry Doesn’t Help Us

Posted on | January 26, 2010

What You Can Do To Help Yourself

fatbankereatingpie Missed Fortune   Sorry, Big Banks, But Sorry Doesnt Help UsWell, they said they were sorry. In a roundabout way.

The big banks whose risky behavior helped usher in the Great Recession recently stepped up to the mic to apologize for their actions, although they justified their conduct as seeming “appropriate at the time.”

These banks received more than $100 billion in assistance from the government. Make that $100 billion from the American taxpayers.

To help make sure that money is not lost, the Obama administration has proposed a “Financial Responsibility Fee,” which will tax the 50 largest financial institutions until the debt is repaid.

Of course, that proposal is already being challenged by the financial industry.

While the fate of that $100 billion may be in question, that’s hardly where the questions end. What about your financial fate?

Where are the best places to entrust your own money so that it will be safe and liquid when you need to access it? How can you position your money so it earns a rate of return? How can you protect yourself from future tax hikes that will surely be necessary to pay for current spending?

Are 401(k)s or IRAs the best place for your money? What about Roths? Annuities? Stocks?

The only retirement savings vehicles that offer liquidity, safety and a rate of return — while still being tax-advantaged — are maximum-funded, tax-advantaged insurance contracts.

Find your answers. Protect yourself so you never have to lose again.

And take steps that will lead to financial security, so you won’t be hanging on lame apologies from industry — or government — aristocrats in the future.

Isn’t It Time You Became Wealthy?

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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