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Missed Fortune – Taking Your First Steps To a Panic-free Future

Posted on | April 1, 2012

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Capitalism Shouldn’t Be a Dirty Word

It’s ironic that the enemies of capitalism are the very same folks who gave it its name. They used the term as an epithet to describe the practice of capitalizing on another person’s needs and wants at their expense. A better description for capitalism would be cooperation.

This is where you create value that I’m willing to pay for and, in turn, you use my services and by so doing, we both provide for our own families and create economic growth and wealth.

Somehow, even today, a mindset exists among many politicians that capitalism or free enterprise is an evil thing. This is in spite of the fact that this very system has allowed America to create unprecedented prosperity, innovation and technological advancement.

Official antipathy toward capitalism has allowed special interest groups to shape government policies that are based in the mindset of scarcity. This is especially true regarding oil, coal and other energy sources. These policies also have led to profligate government spending which has grown our national debt from $9.2 trillion just 3 years ago to over $15.5 trillion today. Economic uncertainty is the predictable result of such thinking and such policies.

While many experts and commentators are trying desperately to predict what may be coming next, there are a few who can face the future with confidence no matter what it may hold. These are the people who have learned and implemented the Missed Fortune strategies that allow them to capture any market upside when the economy grows, but also protects their principal from loss when the market declines. Given the choice, wouldn’t you rather face the future with certainty?

Head In the Right Direction No Matter What Government Is Doing

With the economic stimulus spending of the past 3 years, our government has spent roughly $3.6 trillion and has plans to spend another $1 trillion trying to spend its way out of a recession. To put that into perspective, with just 20% of the $3.6 trillion that’s already been spent, there would have been enough money to hire every single unemployed person in the country and employ them for two years with a $50,000 a year salary.

Instead, unemployment rose from 7.2% to over 10% and has now settled at around 9.2%. Back in the 1970s, the great economist Milton Friedman was correct when he said, “When Congress tries to spend its way out of a recession, it just doesn’t work. We end up with bigger debt and we keep having this heavy load.”

Even with bold moves like the reforms proposed by Chairman of the Congressional Budget Office Paul Ryan which would make substantial reductions in government spending to balance the budget, there is no easy fix. It will take years and even bolder moves to reduce spending before our country can begin to move in the right direction.

No matter what government does, you need to be headed in the right direction economically.

There are several ways you could be doing this. For instance, if you own real estate, your equity should be in a more protected place than in the real estate itself. This way it can earn rates of return more than double the interest rate on the mortgage. If you’re keeping your serious money in an IRA or 401(k) there are better vehicles in which your money can accumulate tax-free, is liquid, and also distributes tax-free. Those individuals who keep their money in a tax-deferred IRA or 401(k), stand a very good chance of outliving their retirement nest egg within 7 to 11 years.

With a strategic rollout, they could safely move that money into an account that is protected from market volatility and rising taxes from that day forward. These are just a couple of the reasons that Missed Fortune clients are able to face the future with confidence.

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

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