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Missed Fortune – You Can Count On Your Future Despite Ups & Downs

Posted on | February 28, 2010

Don’t Let Market Ups & Downs Get You Down

When the Federal Reserve recently raised interest rates on money it loans to banks from .5 percent to .75 percent, many saw it as positive. A Los Angeles Times article said

“The willingness of policymakers to raise the discount rate is the latest sign that the economy is regaining its footing after falling into the worst financial debacle since the Great Depression.”

And The New York Times said

“The Federal Reserve on Feb. 18 raised interest rates, signaling its confidence in our economic recovery.”

But this news came within the same week unemployment claims unexpectedly went up. And at the same time millions who have already been receiving unemployment assistance are about to see their checks stop coming.

The ripple effect of this, according to the New York Times, is that

“Economists fear that the nascent recovery will leave more people behind than in past recessions, failing to create jobs in sufficient numbers to absorb the record-setting ranks of the long-term unemployed.

“Call them the new poor: people long accustomed to the comforts of middle-class life who are now relying on public assistance for the first time in their lives — potentially for years to come.”

At a time of uncertainty, it’s more important than ever to make your own financial future more certain. Take the lessons of these hard times and find out how to do the following:

  • Optimize your assets
  • Identify retirement savings vehicles that are tax-advantaged and provide liquidity, safety, and a healthy rate of return
  • Stop following the crowd and find a safer path to a more financially abundant life

There are a few things we can count on: Interest rates will rise and fall; the economy will always be cyclical; and overall, taxes will go up.

You should be able to count on your financial future. Find out how today by setting up a free consultation with a Missed Fortune Advisor.

Escape the Pitfalls of Traditional Retirement Plans

When it comes to savings and retirement vehicles, the traditional rhetoric is that you should put your money into “qualified plans” like 401(k)s and IRAs.

For years, Americans have been socking away their investment money in accounts like these, following the crowd, hoping it would ensure the nest egg they want for the future.

The recent economic downturn has all but thrown out the egg and the nest from many Americans’ 401(k) and IRA accounts. Some have lost thousands—others hundreds of thousands—from their traditional retirement accounts.

There are other people, however, who haven’t lost a dime—in fact, they’ve increased their wealth over the past couple years.

What do they know that you don’t?

These people have followed proven but unconventional investment strategies like those described in the Missed Fortune book series.

They know that qualified plans are qualified by the government. And the government is expert at ensuring it gets its money one way or another.

With a 401(k), for example, your taxes may be deferred on the money you invest, but when you withdraw your money after age 59½, you will be hit with taxes.

There are better alternatives for your retirement savings that have all of the advantages that Roth IRAs and 401(k)s offer, but also a considerable amount more.

Consider strategically converting your traditional IRAs and 401(k)s to maximum-funded, tax-advantaged index insurance contracts rather than to Roth accounts.

Using indexing strategies, you can protect yourself from losses and still participate in any upside potential during good years.

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

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