Missed Fortune – We Cut Back, But Government Doesn’t

Posted on | October 17, 2010

Podcast: Download (22.9MB)

Cut Back or Earn More

Middle-class Americans are playing it pretty smart right now. They’re not spending money they don’t have.

Since the recession began, Americans have cut their spending deeper than ever before, according to the Wall Street Journal. They’re buying less of everything except food.

Food prices are going up. The government says there’s no inflation, but consumers see it. Inflation hurts the poorest most, because they don’t have much wiggle room for spending.

While Americans cut back and sacrifice, our treasury secretary says the government hasn’t spent enough.

Our National Debt has grown from $11.7 trillion in January 2009 to over $13.5 trillion today. I’ve never seen the government successfully spend its way out of a recession, but they keep trying.

Protect Yourself

Taxes are going up. If the Bush tax cuts expire, it’ll amount to the biggest tax increase since they began the U.S. income tax.

Because of all of this deficit spending, most Americans will find themselves in 50 to 60 percent tax brackets in the next 10 to 15 years.

I can show you how to accumulate money tax-free, not tax-deferred or tax-as-earned. Every million you earn can generate $70,000 to $80,000 for retirement and you’ll never outlive it.

We spend so much time teaching kids how to make a living but we don’t teach them what to do with it. The average 35 year old has a net worth of $35,000. Your money should be earning more than you do by age 32.

In my Missed Fortune webinar, I teach the 31 Flavors of Missed Fortune. Even changing two or three can mean an extra million in your nest egg earning money for your retirement.

I discourage people from using short-term investments for long-range goals and vice versa.

I address retirement planning, home management and the quickest and safest ways to get out of debt. I show people how to avoid the wrong investment strategies, like timing the market and relying on commodities.

The sooner you start avoiding these blunders, the sooner you’ll be on your way to a more abundant tomorrow.