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Missed Fortune – Crazy Congress is Consuming Our Cash

Posted on | September 19, 2010

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Congress is Out of Control

President Obama recently proposed a long-term federal jobs program with a $50 billion price tag.

However, 61 percent of Americans say cutting government spending and deficits will create more jobs than the President’s new program.

Congress’s inability to pass a budget or get spending under control is fueling the national deficit, which is on track to record a 1.3 trillion deficit for this year alone.

On top of this, 35 states have filed lawsuits against the federal government, citing illegal federal requirements for state spending.

Congress has not been able to get its fiscal house in order and get the economy moving forward. For too long, Americans have been too complacent about the workings of Congress.

Did you know that there are many exemptions Congress makes for itself that don’t apply to regular citizens? For example, a Congress member can work for only one term, then retire with the same pay!

The average American doesn’t have this luxury. Many Americans are feeling the crunch of the recession and growing unemployment.

Uncontrolled spending in government is creating economic uncertainty that has left many Americans afraid to invest. This could be due to the fact that most Americans lost 31% of their investment money in 401(k) or IRAs in 2008 alone.

This type of devastating loss lends to the current trend of people stashing their long-term investment money into their regular savings accounts.

But there is a better way.

Tax-Free Growth

Your savings sitting in a bank account, earning less than 1% and tax as earned, is not a smart option for long term investment. It may feel safe, but in all actuality you are missing a golden opportunity to allow your cash to earn money for you, risk free.

Bank and credit union accounts are really for short range goals such as saving for a new baby or a purchase.

If you want to play it safe, yet also want your money to grow, 401(k)s, IRAs, and banks accounts are not the answer. In fact, 401(k)s and IRAs hold tremendous risk because they are open to the market’s ups and downs.

With regular bank accounts you can actually lose money with the rate of inflation. Missed Fortune can show you a much better vehicle for your long-term investments such as indexing and hedging—strategies that are exempt from the market’s losses and that earn when the market gains.

Most of Missed Fortune clients have earned 8% or more compounded annually on the average for the last 4 years.

Using these proven strategies, your money is safe, no matter what is going on with the economy. If taxes go up—which they undoubtedly will—your money stays tax free. If inflation rates go up, inflation will actually help it.

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

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Comments

One Response to “Missed Fortune – Crazy Congress is Consuming Our Cash”

  1. Kevin the California loan guy
    September 28th, 2010 @ 12:13 pm

    With the current administration your strategies are even more important than ever before. Congress is out of control and the tax free growth retirement system word needs to get out to the masses. Your books are true eye openers.

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