Merry Christmas!

Merry Christmas! Today we celebrate the birth of our Savior! Have a great day with family and friends!

Thanks

Blind leading the Blind

Let me start by saying I have always enjoyed reading anything by Robert Kiyosaki. His "Rich Dad" series will always be one of my all time favorites. He seems to be able to motivate individuals without even trying. I will also state that I agree with MANY of the things he has said and many of the things he has written. I will always echo his thoughts about becoming self employed.
I always look forward to his articles that appear on Yahoo Finance. However, the latest ARTICLE from him really hit a nerve. In the article he suggest that a 401k plan is not really a good plan at all. I will be the first to admit that there are better ways to retire than hoping with a 401k, however, for many out there the 401k is perfect. The 401k (not to mention the roth 401k) normally comes with a match. Many employers will match around 5 percent of the input. Robert, please tell me where else these people can place their money that will be 1)PreTax 2)Tax Deferred 3) Gain 100% return the second it is invested. GET REAL!
Sure, I see your point that if the market crashes then they lose their money. I see the point that if they need it early they have to take a 10% penalty. I get it. However, you know there are ways to avoid that and for once I think you left these points out because they would not have supported your article.
For those that are freaking out after reading Roberts latest masterpiece, step off the ledge. Walk back over to the 401k and take a look at it again.
If you can find another plan that will match you (meaning double your money upfront) and will give you the ability to do it with pretax money AND defer taxes until you use the money then I would say try it.
If you worry that you will lose all of your money because the stock market is going to crash and burn, then quit putting your money in mutual funds and look at other savings options inside your 401k.
I want to state again that Robert is very correct about fully relying on the 401k. If you are holding a 401k in one hand, SSI in the other and hoping you can have a great retirement using them both then please pass what ever you have been taking. It isn't going to work like that. You will always have "Too Much Month."
I hope you will take this as some type of motivation to research all plans, not just retirement. Many plans that are put in place have many benefits. Many plans will NEVER WORK...such as the latest health care goof and Social Security. If you do your research now, follow the proper plan, later you will never have "Too Much Month."

Thanks

NOW IT'S ON THE FRONT PAGE!!!

Rewind 18 months. You come home and check your mail box. Inside the box you have 8 pieces of mail. As you look through it you realize that in your hand you hold 3 solicitations from your local insurance agents and five 0% credit card offers. You think it is extreme but simply shred and dispose. Down the street, a neighbor with a 450 credit score receives the same mail you did. Around the globe one of Dave Ramsey's listeners checked his box and found a credit card offer for Toby Cocker, his DOG!

Fast forward back to Sunday, December 13, 2009. If you lived in Tennessee you opened your local "Tennessean" news paper to see THIS article on the front page.

First I want to thank Naomi for the research done to write this article. A year and a half ago the large majority of the nation had no idea of the nonsense going on in the financial industry, today it is making the front page of Sunday news papers. For those of us that have been working a plan such as Dave Ramsey or Larry Burkett, this news doesn't really effect us other than it might make us focus a little more. However, if you were someone just floating along, being normal, it might make you check with your card provider...or providers to find out about your rate. The truth is America had become very trusting of their banks and credit card providers. We believed that they would honor the fixed rates they provided us with and would not dare charge us a yearly fee for the ride. Well I would like to thank the banks from the bottom of our hearts. Thank you for waking us up. Sure there are a lot that will continue to float through life and trust you snakes. However, many of us were already awake, and many that weren't are beginning to rise. We have found out that as long as you are in our lives we will always have "Too Much Month."

Many of us have made getting out of debt a new hobby. If there is any advise that I can give it is simply this, do not make getting out of debt a hobby, make it a way of life. I have worked in this industry. They do not care about you. You are a number. They will brain wash their "adviser's," who are mostly just sales people with a financial calculator, to give you every form of debt they offer and show you why you can not live with out it. Truth is they can not live with out you. It is time to take our banks back, our money back, our lives back, and our months back.

Thanks.

She Finally Figured IT Out!!!

It's a new day and not a happy one for the Bank of America's, Citi's, Capital One's, and Wells Fargo's of the world. For years now Dave Ramsey has taken these screw ups on by changing one family at a time. Over the years he has created quite an army of followers. He has fought tooth and nail to get people to go back to cash and debit cards. All the while he has been changing the lives of millions, these millions have laughed at Suze Orman and her use credit and save your money stance. It was a great idea to save your money at 2% and use credit at 20-30% interest PLUS spending 15-20% more because you are using plastic. It was proof that if you market yourself, no matter how goofball your suggestions are you can be famous.
If the latest article is any evidence of what is to come, Suze might have figured it out and this could be dangerous. She is now suggesting we all use cash. I think she has finally realized that these companies are all snakes and even those that keep their end of the bargain with these lender would be bit. They do not care if you make every payment 5 days early and never break the rules, at some point they will get you. For Suze it took them raising her directors wife's rate to 29.9% for no reason.
Together Suze and Dave can cause a lot of stress for the CEO's for these companies. Just when things look brighter for the financial industry this happens. I kind of laugh when I think about these CEO's sitting in their nice office sweating it out. Builds character.
With all of this said I have two statements...
1)Thank you Dave for your stance over the years. You have stood tall, taken the high road, and changed lives against all odds.
2)Suze, I'm not sold on you. However, after years of advice I would not give my worst enemy you have finally figured it out in this article. Good job and keep it up. One day our opinion of you might change.

I can tell all of you that suffer from "Too Much Month," Dave is the way to go. Follow his teachings and regardless of income level you can succeed. Also pay attention to what Suze said IN THIS ARTICLE, and it will help.

Thanks.