Financial Planners and financial institutions don’t understand your wealth. Stay tuned.
From Philadelphia, the home of the Liberty Bell, Financial Freedom Radio starts now. Here’s your host, Raymond Jewell.
Welcome everybody to FinancialFreedomRadio.com. I want to thank you all for coming and I want to thank all the many listeners that are watching the video on YouTube. By the way, if you want to see us live, you can go to youtube.com/financialfreedomradio. We’d love to have you subscribe and pass it on to your friends also. We build our listener base on referrals and we’d really like for you to give a link out to others so that they can get this information and do with it what they wish. Today, we’re going to talk about how the financial institutions and financial planners don’t understand your wealth. First, let’s introduce our illustrious producer, Steve. How was your weekend?
Hey Dr. Ray. I’m doing good. My weekend was good. We had another shelter-in-place, don’t get me started. It’s crazy. I don’t know how much longer we’re gonna be able to put up with it, but I’m here.
As long as it takes, baby.
I’m a little nervous about today’s episode.
Why are you a little nervous?
I had no preliminary information on this. I don’t know what you’re gonna talk about, but I’m sure it’s gonna be exciting.
Oh, it’s gonna be great. You’re gonna love it. What we’re gonna talk about are the financial institutions. Last week, we went over the three areas that we have to deal with in our financial world. Financial Institutions, Government, and Corporations. Now, we’re gonna break it down further and I’m going to show you why the financial people don’t understand what you are, what you do, or what you want with your wealth. They only have their agenda. It’s not wrong that they do this. We have to understand why they do it. A lot of the information is coming from a book Leap the Key to Financial Success Lifetime Economic Acceleration Process written by Bob Castiglione. You can buy the book, I think there’s only a couple left on Amazon. I’m not sure, but it’s a great read if you’re interested in grabbing hold to your wealth and make sure that you don’t lose. We just don’t know when these downturns are going to hit us. We want to make sure that we insulate ourselves from it.
So that’s why we’re going through all this information. I’m going to give you insights into what to look for. As we go through this, I’m going to talk about the financial planners. They’re doing only one piece of what you should be doing and you’re going to see it all unfold as two little areas that you need to pay attention to that they don’t. You’re going to see the difference and end up knowing, probably, more than a financial planner will.
First, let’s talk about financial tools and controls. There’s three major financial influences in our life, financial institutions, government, corporations, as I just mentioned. We talked about those last week. They all have tools and the ability to control and affect your financial well-being. They use interest charges, they use fees, they use commissions, they use market fluctuations, taxes, inflation, planned obsolescence, technological change, style changes, and a host of other factors that can diminish your personal money supply because that’s their goal, to increase theirs and diminish yours. We have to understand why they’re doing it. We need them to do that, but we have to understand why they’re doing it. How many financial tools or controls to defend against these eroding factors do you have? The financial game of life as we know it is one-sided. Your chances of building both become very slim. It took me a while to figure this out. So, you want to make sure that you understand how to fight this. The vast majority of people in North America will never grow wealth and they’ll experience many financial problems throughout their lifetime because they don’t understand this. What you’re going to get here is an insight into something that many people don’t understand. So when you understand it, you’re going to have a leg up in wealth creation. People will lose money and be unable to keep it or keep up. So what we want to look at is, we want to reject the notion that if people wanted to avoid financial failure, as most people do, all they had to do was have a simple plan.
A simple plan is better than no plan, but it’s more involved than that. After delving into the matter of 40 some years, we’ve discovered that people fail to achieve wealth because they are planning all wrong. It’s true that people don’t deliberately plan to fail, but if you ask financial people. Why do people fail? They’ll say they didn’t have a plan. The people that do have a plan are still failing. So how do you figure that? Nobody saw this downturn in the market come? So, the truth that most people’s financial plans are not built for financial success is true, they’re not. You’re never going to build a financial plan with a financial planner unless you follow what we’re going to outline today. Many financial advisors say all you have to do is set aside money each year and every year for a variety of future needs and goals. It’s not all there even if you do save systematically and don’t spend it and get a high rate of return, you still may not have the chance to acquire wealth. The eroding factors in our world will take your money away faster than you can build it. If you’re not prepared to defend your money from such systematic confiscation, you’re gonna lose. I don’t care how illustrious a financial plan you have from a certified person that’s taught by the financial people. Your wealth is going to erode away and you’re gonna lose. If that weren’t the case, why are so many people still working in retirement? As we see retirement float along, this is the first blip of people starting to retire that have actually been heavily inundated by financial people to build these plans. They’re still running out of money.
Because it systematically gets confiscated away from him without their control. So that’s why we’ve spent 40 years looking for efficient and effective ways to build and protect individual wealth for the consumers. 40 years, we’ve been teaching this process and the process is called leap, as I said earlier in this book Lifetime Economic Acceleration Process. Buy the book and follow along these videos and you will be well informed. Even if you get the book though, you still have to get a lead practitioner to take you through the models. So the process enables you to work skillfully with financial institutions, governments, and corporations. Remember those three?
To build a better and better protection of your wealth, it helps you build wealth and provides a means of protecting your money against eroding factors that can destroy your money before you even get to enjoy it. Let me tell you, when the market drops, it happens in less than a week.
So let’s look at how we can avoid the financial pitfalls. The first and most important step in building financial wealth and happiness is to understand the financial traps and pitfalls that are around you. Some of them are obvious while others are not. The ones that are not obvious often have the most devastating effect on your wealth building. These hidden pitfalls don’t get explained by many financial people because they don’t understand them. Once you have these eroding factors explained to you, as we’re going to do, and understand their destructive effect. I’m reading this because this is important. You will be amazed at how easy it is to find ways to avoid them, but you don’t know they’re there. That’s what we’re gonna talk about.
So, in order to build a successful financial world, you must establish and deploy defenses and countermeasures that protect your money under any set of circumstances. Market downturns, one major one. You want to make sure that you have built a moat, castle moat. Build a moat around your castle. A financial plan that does not work under every set of circumstances is no plan at all. Again, you can have the most fabulous financial plan from the most high-end of white collar financial firms, New York City, Wall Street. But unless your financial plan is built to understand eroding factors, you might as well have no plan. Now, you’re probably saying well people that go to these guys, they have a ton of money. Yes they do and at the end, they have no idea how much erosion they’ve incurred. They know that they have a count for life, but how much erosion have they occurred? They don’t know. If you notice wealthy people, they still continue to work until they die. Now, why is that? Because they’re scared, number one. They’re used to doing it and they’ve got to have something to do. Maybe they’ll scale down a little bit. Number two, they have no idea how much they’re losing. They know there’s an eroding factor somewhere, but nobody’s identified them.
So, I don’t care how much money you have. Whether you have a little bit or a whole lot, erosion can be in all of them. It may not show up as much down here, but it can be huge up here. But it’ll impact the person down here more than it will up here. So anyone can design a financial plan that can work under the best set of circumstances, but will the plan work for you under a specific set of economic or financial circumstances that occur out of the blue? Now, don’t get me wrong, the financial institutions need to be around. We just need to use them in a different way other than what the financial world teaches us.
So, let me ask you some questions. In a financial plan, what if interest rates dropped? Financial people, the financial planners will say well if you get X amount of interest rate over time, you’re gonna have these dollars at the end. What if it doesn’t stay the same? What if it drops? What if it does all this crazy stuff? You win, you lose, you win, you lose. It’s up and down interest rates. It’s the yo-yo effect. But, what if interest rates have dropped? What if the market declines? We just saw it. So taxes go up, that’s another eroding factor. You have no control over that. Increases in inflation. Inflation is what we call a stealth tax. Inflation will rob you of more money and you don’t even know. It’s a hidden tax. You don’t even know it’s there. It’s sucking money out. What if you get sued? What if you become disabled and your income dries up? What if you need more income? What if you can’t get your money because the government changed the rules? Think about that. They’ve done that many times. We saw that coming back in when they first set up IRAs back in the ‘80s, late ‘70s. We figured that once there’s a sizable amount of money in there, they’re gonna start taxing it. It used to be tax-free going in and coming out. Didn’t stay that way. What if your investment portfolio did not perform as well as you thought it would or any other unforeseen financial disaster like this coronavirus? Who knew that this was coming? So most financial planning today is not designed to handle all of these circumstances. There’s even more of them.
So a sound financial plan should work under any scenario. The financial planners do not understand eroding factors. They’re not dynamic as far as their plans go. They’re static and they have all this mumbo-jumbo and my favorite, Steve loves this word, technobabble. That’s his favorite word. So, it’s not that these people are bad people, they’re just taught by the financial institutions that want your money. The corporations, the financial institutions, remember the financial aid government, financial institutions, governments and corporations. So why aren’t financial plans designed to help consumers reach their full financial potential and help defend against eroding factors? Most financial advisors are well-meaning people. They’re not bad people. They are trained to provide financial advice and help consumers reach their financial needs and objectives, but the tools and education they have received fall short of providing you with a solid foundation of planning. They just can’t do it, but yet they have actors doing ads to lure you into their financial plan. They have a certified financial plan designation to make you feel better. It’s still not going to work. There’s well known guys out on the Internet you probably have heard of and their financial plans don’t work. Are they better than nothing? Probably. But if you’re really serious about your wealth, you need to pay attention. See, we have one exponential curve in our life. Exponential curves start at the bottom and they grow up like this. We have one exponential curve in our life and that exponential curve enables us to do things throughout our life which means we only have one pass through here. We were born, we grow up, and we die. You can’t go back in time and do it again. You want to do it right the first time. Too much emphasis is placed on offensive strategies and not enough on defensive ones. The financial people, their plans are vulnerable to all sorts of changes in the economic market and Taxation conditions. They can’t stand up. So as consumers, you need to be aware of the forces at work and that’s what we’re teaching you here. Our society that we live in, we want to make sure we provide financial security for you, your family, and anybody else that you impact with. Let’s use it as a sporting event analogy. In sporting events, you must know your opposition in order to have any chance of winning the game, right?
Yet you treat the opposition with respect and sportsmanship, win or lose. You’re supposed to. The financial institutions, government and corporations may be viewed as the opposition, but they are not your enemies, don’t get me wrong.
So, the financial institutions, the government, corporations may be viewed as opposition, but they’re not your enemies. We need them in order to have happy and successful lives. We must know how to work with them effectively to achieve the wealth we desire and the wealth that is afforded to us. I don’t care if you only make $50,000 a year over your lifetime. If you do it right, you will retire a wealthy person.
So, we’re going to go over the rest of this and it’s just going to keep continuing as we uncover this. Eventually, you will get a macro view of your financial world and what you need to be doing. We talked about the four financial institutions, we’ve talked about it before and we’ll go over that. If you were president of the financial institutions, would you work on getting your money, 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? Of course you would. So how do we interface in a positive way against those rules? We’re going to talk about that next week. We’re gonna pick this right up at the end.
So I hope this information was helpful. I want to thank you all for coming and if you want to get more information about this and you want personal contact, we’ll give you a half an hour conversation over the phone. If you want to go to RaymondJewell.com/meet. There’s a calendar there. Just pick a time and we’ll do a Skype, Zoom, or whatever it is and I’ll talk to you about it. Feel free. I’ll do them as long as I can. I’m here to help you. I’m going to make sure you get pointed in the right direction. If you want to find a leap practitioner within an area where you want to work, we do all of our work with our clients remotely, but we can point you in the right direction. Just sign up on our calendar and we’ll get a notice. So thank you all for coming and watching. Please tell your friends and please subscribe to our YouTube channel Youtube.com/financialfreedomradio or go to financialfreedomradio.com. I hope you folks are staying well and I know you’re hunkered in and so are we. We’re all in this together. Our prayers are with you folks. So thanks for coming and take care. God bless.
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.