Economic acceleration. A new way of thinking about your financial world. Stay tuned.
From Philadelphia, the home of the Liberty Bell, Financial Freedom Radio starts now. Here’s your host, Raymond Jewell.
Welcome everyone to FinancialFreedomRadio.com. I want to thank you all for coming and joining and viewing our shows. You could see us at FinancialFreedomRadio.com. Click on the links to go to YouTube, where we’ve got our videos posted and do our weekly sows. If you just want to get the podcast, you can go to the podcast on FinancialFreedomRadio.com. You can also go to youtube.com/financialfreedomradio. If you want to read all this stuff, you go to our blog. It’s all up there on financialfreedomradio.com.
I want to thank you for coming as I said. We’d like to have you share the link, Financial Freedom Radio, with your friends. We’re trying to build our listener and viewer family. Our goal is to get a million viewers and so we want to try to use your help in getting our word out because we think our word is very valuable and can help you. So I want to thank you for doing all that ahead of time. Let’s say good morning to producer, Steve. How are you Steve?
Good morning, Dr. Ray. How are you?
I’m just smack dandy. Did you have a good weekend?
I did. Look, the wife cut the hair.
Earlier I accused Steve of going to the barbershop and going to his hairdresser. He said no, I didn’t, my wife cut it. She said, don’t get used to this.
I said, why are we paying these people to cut my hair? She’s like, no I’m not doing this again. She didn’t do so bad.
You’re gonna love this show we have today, Steve. This is right down your alley. We’re gonna start picking apart the three forms of government that get ahold of your wealth. By the way, I’m going to show you this as a point of reference. We’re using this book. You can find it, I think there’s a couple copies on Amazon. It’s pretty hard to get. It’s called, let’s see if I can get this right, Leap the Key to Financial Success and this is written by Bob Castiglione. He was the creator of Leap back in 1980. This process has been around for many years, with an amazing track record. So we’re gonna start working through this book and we’re going to point out where your money gets eroded away. It’s confiscated and transferred from many different areas that you’re not aware of during your lifetime without you even knowing it. We get bombarded by misinformation from the media from financial books, from magazines, and financial advisors give us bad information. I’ll show you that real quickly by bringing up the illustration of what the financial world looks like. What people think it looks like and what it looks like in reality. Steve, you have that slide 1? There it is. See your plan that you think you have is the top illustration and this is what is sold to you by the financial institutions. You’re sold a plan that’s going to take you from point A to point B, but I gotta tell you, it’s not going to do it because you’re gonna have reality set in and reality is the bottom. Reality has all sorts of lumps and bumps and craters and earthquakes and volcanoes and all sorts of crazy things that are going to get in your way and are going to impact your financial world. We’re going to talk about them today. Can we leave that up there, Steve as we go along?
So, these forces are the media financial books, magazines, and financial advisors, these forces are so powerful. You have little chance of really reaching your financial potential.
Words are hard.
They are. As we go through these shows, you’re going to learn what you need to do in order to avoid these many pitfalls. They’re coming at you and you don’t even know where they are. Financial planners don’t work for you and financial plans don’t work. The static math does not work. It’s a dynamic program and you can’t just crunch numbers and say this is going to happen into the future. It’s just too much reality in there. So, let’s look at three major financial influences we have in our lives. The three major financial influences are financial institutions, government, and corporations. They are brutal and they are the reality that sets in, but with your plan up top, they’re the number one part of it. They want you to think it’s smooth sailing. Steve, have you ever seen the ads on TV where the guy’s sitting around and he said “man, retirement is really good” and the woman’s sitting there. All of a sudden, the guy sits up and he’s the financial planner. He says, yeah it’s great.
Yeah it’s great for him.
They have all these pictures of sailboats sailing off into an island and all that kind of stuff. So, let’s look at financial institutions. They build financial products. Financial engines of our capitalistic society are financial products. Without banks, insurance companies, investment companies, stock brokerages, real estate, farms, financial markets, they’re vital in our civilization. We need them, but if you have listened to other shows, no financial product in the land is ever going to make you wealthy. It’s never going to happen. So when you’re sold a financial product, look out. It has to be processed, otherwise, all those bumps in the road, in reality are going to take you off your plan and it’s never going to happen. People are retiring daily where this has happened to. They’re in big trouble. They are profit-making businesses, financial institutions. We have to understand that they’re in the business to make money. They develop their products to make a profit because they have to answer to their stockholders. So every financial product they develop is geared for them to make a profit. They are a conduit between you and your money. They make money by accumulating, lending, investing your money. I’m going to say that again. They make money by accumulating, investing, and lending your money.
So, you remember the rules of the financial institutions? They have to get your money, they get it on a systematic and ongoing basis, hang on to it for as long as possible, and give it back as little as possible. If they violate these rules, they’re out of business. Those aren’t a bad thing. I’ve had financial people think that I’m slamming the financial institution. No, that’s how they operate. Those are real rules and they’re not a bad thing if you’re a financial institution. But, if you’re a consumer, you’ve got to work around them and look out for them because they become reality. Finance matters. Financial rules matter. Most consumers are not skilled or trained in personal financial matters. They have been trained by financial people to believe their opinions and their concepts are right. Products don’t create wealth, it’s a process. When you listen to somebody else’s opinion, that’s all it is. It’s an opinion. Unless they can verify in a process driven model, macroeconomic model, that that process is going to stand the test of time and not fall into the reality part of this illustration. It’s not any good. Most consumers are too busy earning a living to figure out how to make money work for them.
So that’s the financial institutions. Now, we’ve got the government. So financial institutions get our money. How does the government do it? The government impacts our financial lives in enormous ways. Look what just happened in our economy. For those of you that may watch this down the road, this is April 20th, 2020. We are currently in a pandemic, we are in lockdown. Businesses have been asked to close. Stock market went down, although it is on it’s way back up. I don’t know what it is today, but I think it’s close to 23 or 24 and it was originally 28-29 when all this started. Nobody thought this was ever going to happen and the government is now stepping in to try to help people, but the government entities at the federal state and local levels regulate our money supply in normal cases. In abnormal cases, they closed businesses and some of them may not come back. Which is sad.
They regulate the money supply, they make financial laws, they collect income and other taxes. If you think income tax is the only tax you pay, you’re mistaken. When you drive down the highway, you pay a toll. That’s a tax. You pay tax on gasoline, you pay tax on everything. In addition, income tax in state tax and they also provide Social Services. Now, the government complicates your financial life by continuing to change the rules and the laws that affect your ability to keep and grow your money. You could get a new group in the white house and they’ll lower taxes as we saw with President Trump. Another party could get in and they’ll raise taxes and they’ll change the rules. It drives accountants crazy. So, when you’ve got the rules of the game being changed all the time, it’s very hard to figure it out. Now, although federal income taxes are the most serious that we face, we have other forms of Taxation that affect your financial life and they can be brutal. They talked about a few of them. Cigarettes, cigarette taxes if you’re a smoker. If you buy liquor, you get tax on that. Everything we buy has a tax on it. Property tax, school tax. You add them all together and it’s huge.
So, we need to understand how they get our money. You’ve got corporations. They make consumer products and they design products and services to last only a certain period of time. They will break down and that’s a whole aftermarket. You buy a product and as it starts breaking down and you start fixing it, you start using products or parts that are made by the manufacturer or aftermarket parts that are made by a qualified manufacturer by the car. Let’s say cars, car dealers or washing machines or whatever it is, it’s a whole aftermarket designed to get your money. There’s just the number of products and services available. It’s just infinite. When you try to think about it, it’s huge. Products become obsolete. You’ve got technological change. I was thinking back to the other and just imagine this. Remember in 2000, was it 2007, the iPhone came out, Steve?
I think it was 2007. That sounds about right.
If you’re watching a movie that was done before 2007, you’ll see phones like the Trio? Was that the first one?
Trio what? No, I don’t know. I don’t know where you’re going, Ray.
The Palm Trio.
That was a little flip open top, then you had the blackberry that came out.
You had the razer.
Anyway, the point is that technology has changed. Can you imagine sitting and trying to make a Blackberry work today? I don’t think it would. Can you imagine not keeping up with technological change and every time you decide you want to advance in the technology area, you’ve got to spend money. Steve Jobs came out with the iPhone. The iPhone changed a whole new era of technology into tablets, into the iPhones and everything. So technological change, corporations know how to do it and they’re very good at it. We look at it as being an invention. I think it’s Gresham’s law “What was a luxury today becomes a necessity tomorrow.” Just making it real, Steve.
I gotcha. Keep making it real for the people.
So, the amount of money that is paid by the consumers is huge and it’s impossible for us to shun it. It’s impossible for us to try to figure out ways to keep them from getting in our pocket. Everybody wants to get in your pocket.
Yes they do.
So everybody wants to get in your pocket and they’re very skilled at it. So you have to have a model. You have to have a game board. You have to understand how that’s going to happen and plan for it. So in our plan, on the illustration up at the top there, your plan is not as easy as it looks. The financial people don’t want to tell you that because most of the time, they don’t know. They’re not skilled in reality and our process is going to show you the rate. We’re going to program the reality into your financial world and show you how it’s going to materialize and where and how you can offset it and plan and also how you can recover a lot of cost. Tax recovery is one. Cost recovery is another. tax recovery as one cost. Recovery is another.
So, next time, we’re going to talk about financial tools and we’re going to talk about controls. We’re gonna talk about how to put them into your plan and make them profitable for you. By the way, if you’re watching this and you want to learn more about this, I’ll do a 1 one 1, ½ hour consultation with you. Steve, what’s the address for the calendar?
I think you had RaymondJewell.com/meet wasn’t it?
I’m gonna double check that while you’re talking.
So if you want to go there and just fill out the half hour slots, grab a slot and we’ll have a phone conversation or Skype or Zoom. Whichever you like. I’ll get to meet you and talk to you and explain this. If you want to find a leap practitioner in your area, let me know and I can find that for you.
I’m gonna hijack your call and just tell you that what Ray’s offering here, you have no idea the value of it. It’s actually how Ray and I first met a long time ago. Ray started me down this road and we’ve been working together ever since. It’s just the fact that you can get someone with his skill set and his talent and it costs you nothing. He will give you advice that is so much more superior than what any financial planner would give you. Anybody who doesn’t take advantage of this is crazy because it’s free advice and the best part is he doesn’t charge anything. You don’t have to pay. He gets paid on the back-end if you decide to take one of his recommendations and if you don’t, you don’t have to. There’s no pressure. He’s not motivated by money, he’s motivated to help people and that’s what I really, and I know this was a shameless plug that you weren’t expecting, but I think it’s really important that people know the genuineness of what you do.
Okay, I’ll go back to being quiet now.
I was not prepared, but I’ll be glad to help you out. I still work with clients. We have a lot of fun when we work together and we do crazy what-ifs and it’s just a lot of fun. Go to RaymondJewell.com/meet.
I promise next week I’ll have a graphic for it.
Anyway, I want to thank you all for coming and watching and putting up with our craziness, but I hope this information was valuable to you and that you’ll pass it along to other people. That’s all we can do is pass information on and let people deal with it as they wish, but down the road, we’re gonna be doing some pretty crazy what-if scenarios in our models. So it’s going to be a lot of fun once we get this information laid out so that you understand what we’re doing. Anyway thank you all for coming and watching. See you back here next. FinancialFreedomRadio.com.
Thanks for listening! Please remember to subscribe to the podcast. If you want to learn how to create real sustainable wealth like the extremely rich people do, or maybe you just want to sustain the wealth you already have, you need to check out Dr. Ray’s new book “Why the Rich are Rich”. Ray’s been coaching clients for 35 years and has completely unlocked the secret strategies that rich people use day in and day out to grow and sustain their wealth, regardless of what’s going on in the economy. His book is completely free, and you can get it by going to https://whythericharerich.com and entering your email address. Again, that’s https://whythericharerich.com. Head over there now.