“you decide”

I touched the search button on my car radio the other day and landed on “The Dave Ramsey Show”. The caller had this story to tell:

“I own two different houses in Florida; one of them is worth $250,000, and the other one is worth $350,000. Both of these houses are paid for.”

“I have a transmission shop that is worth $400,000 but I still owe $70,000 on it.”

“I also own our current home which has a value of $350,000 and I owe $120,000 on it.

“Both me and my wife work, she makes $90,000 after taxes, but for the last 6 months I have not been able to bring anything home because of the economic downturn.”

“I owe $90,000 on credit cards trying to float expenses at the shop due to the downturn.”

“My wife does not want to sell our homes in Florida because by the time we paid listing and seller fees we would have lost over 45%.”

“What is there, that we can do?”

Dave began ranting and raving about the wife of this man being so impracticable in this critical situation and then he recommended that this fellow should sell one of his Florida homes to get out of debt! This recommendation is disastrous for many reasons. Here are some:

It assumes he values money over his relationship with his wife by mocking her concern and advice.

In a very depressed market it still assumes he can sell his property(s).

It also assumes that after he pays off his debt he will not continue to accumulate more.

It assumes the financial crisis is over.

It goes against common sense by assuming that getting out of debt produces financial freedom.

Now we will study the facts:

If it were possible for this fellow to sell his house for 55% of what he has into it then he will be the receiver of $190,000 from the home that was worth $350,000, and less than that on the home that was worth $250,000 ($137,000.) This money will be enough to pay off his current debt and leave him with $47,500. If he has to continue spending money at the rate which he has in his business, this extra money will only last him about 3 months. Then he would find himself right back where he was, only this time he would be worse off, because he would have no equity to liquidate so that he could “bail himself out.” Strike one Dave!

Secondly, it is only an allusion to be debt free in the society of today. The only debt free people that I have seen are the people that are holding signs in parking lots and on the street corners. We really should just face the fact that nobody can be debt free unless they own absolutely nothing. If you own anything, than you face taxes, service fees, utilities etc. Guess What? This means that you have to live in debt. Strike two Dave. No one wants to be a homeless hobo.

Thirdly, Dave this caller obviously has some financial acumen and you ignored this fact. Just consider all his entrepreneurial undertakings. This hack attack was absolutely unnecessary and totally of base. You employed the attorneys old trick, if you cannot find fault with the deed attack the person behind the deed. So, strike three Dave, you are out!

If you will consider this fellows situation it will become apparent that he has made some very sound financial decisions, otherwise where would the asset accumulation come from? And I would seriously doubt that his wife was just an onlooker in this financial expansion. For Dave to insult her, and mock her was totally wrong. But what can you expect if you call a group entertainer for financial council?

So besides prolonging his bankruptcy by selling his personal property what is out there that could help this caller?

We will start with a true but little known fact. There is no rate of return associated with real estate equity. The wealthy have known this for centuries and acted accordingly. This is why the Infinite Banking Concept can become increasingly beneficial to you. You can keep your money in a very liquid and secure place, and still use the asset(s) which your money purchased (or purchases) and not be penalized for using your money which made the purchase in the first place. By Becoming Your Own Banker In fact if you use your money for financing current need and capital ventures… you will end up with more money and assets with only one little caveat… you will not have to work any harder or any longer to make that extra money because your money will be working for you.

So even if Ramsey rants and raves against participating whole life insurance, do not be fooled, who cares what Ramsey says, if it is not true? The truth is that the people that pay these entertainers are the same ones that make money off of you by using your money at your loss.

Tom McFie PhDis a professional financial coach and is nationaly known for helping people recover the money they currentley spend. Don’t Make another payment until you have viewed his Infinite Banking Video Then Contact him he can help you

…and find out what many will never know.

“What I am about to share with you makes so much sense that you will probably get mad that no one ever mentioned it to you before now.”

Perhaps, Sam Walton said it best, Capital is not scarce vision is.

In 1829 John Q. Adams wrote:

All the perplexities, confusion and distress in America arise from downright ignorance of the nature of coin, credit and circulation.

Well, people are still perplexed today, by the same thing John Adams referred to when he wrote that statement back in 1829! All this is because the population has been kept in the dark about how banking really works. This is not an earth shaking thing. The disease of money and banking can be found throughout the Unites States. John Maynard Keynes had this to say:

There is no subtler or surer means of overturning the existing basis of society than to debase the currency. The process engages all the hidden forces of economic law on the side of destruction and does it in a manner which only one man in a million is able to diagnose.

Now if John Maynard Keynes, one of the most celebrated economists of the 20th century said, that only one in a million could detect the debasement, do not beat yourself over the head for not being aware of it. But do take some time to hone your detection skills so you will stop throwing away your money!

This is a different way to think about things, people regularly bid goodbye to 30% to 40% of every dollar they earn (that is after taxes.) This is because everything we purchase has a financing cost. That is correct! This is why; either people use money belonging to someone else and have to throw away their money to pay the interest, or they pay cash outright and lose all the interest that their money could have made for them. Both ways can be depressing. This is the banking equation revealed!

But you know, it does not have to be that way. It has been proven time and time again, that the method of using life insurance cash values as a personal banking system works. By Becoming Your Own Banker, utilizing the Infinite Banking Concept as explained by R. Nelson Nash, you can capitalize on your own debt just like the banks and financial institutions do right now, only you will be the winner this time around not them.

…and find out what millions will never know.

I am going to share with you a concept that makes so much sense; it might make you angry that nobody ever shared it with you before now.

Sam Walton said it well, Capital is not scarce vision is.

In 1829 John Q. Adams wrote:

All the perplexities, confusion and distress in America arise from downright ignorance of the nature of coin, credit and circulation.

People today are perplexed by the same state of affairs that John Adams wrote about back in 1829! That is because most people have never been exposed to the truth about how banking really works. But you do not need to be traumatized about this. The disease of money and banking is an endemic in the United States. Besides John Maynard Keynes once wrote:

There is no subtler or surer means of overturning the existing basis of society than to debase the currency. The process engages all the hidden forces of economic law on the side of destruction and does it in a manner which only one man in a million is able to diagnose.

If Keynes a widely recognized economist of his time said it would take one in man in a million to be able to recognize this problem, don not kick yourself too hard because you did not recognize this before now. But do take a deeper look at reality so that you will be able to recognize the facts so you can stop throwing money away.

Take an honest look at your situation. You routinely throw away 30% to 40% on every dollar that you earn (after paying taxes.) This is because everything you purchase is financed. Check it out! You either pay interest to others so you can use their money; or you lose the interest that you would have earned on your own money. Either path you take suffers defeat. This is the effect of the banking equation!

But you know, it does not have to be that way. It has been proven time and time again, that the method of using life insurance cash values as a personal banking system works. By Becoming Your Own Banker, utilizing the Infinite Banking Concept as explained by R. Nelson Nash, you can capitalize on your own debt just like the banks and financial institutions do right now, only you will be the winner this time around not them.