The Perils of the 10-Page Financial Plan.
What are the perils of the 10-page (or more) financial plan? Far more than I’m listing below. But here are the main problems with it.
How? (The devil is in the details.)
* You lost more than 30% in the Great Recession
* Your financial plan is longer than 10 pages
* You are spending more than $200 a month on health insurance, life insurance, utilities or gasoline
* You are having trouble contributing to your retirement due to high bills or high debt
* You are relying upon a pension or Social Security as your retirement plan
* Your home is worth less than your mortgage
then you could be gambling with your future. It is time to get an unbiased second opinion, outside of the bank, brokerage and accounting sphere, particularly now that we have entered the 10th year of the current bull market. Low interest rates create bubbles. The last two times the world economy went eight years without a correction, most people lost more than half of their retirement. 55% of the Dow Jones Industrial Average was lost in the Great Recession, and 78% of the NASDAQ Composite Index was lost in the Dot Com Recession (taking over 15 years to get back to even). Over 10 million homes went to auction in the wake of the Great Recession.
You will be told to just hang on, that the markets always come back. You will not be told that when the markets come back, you are still underwater because a 10% return on $450,000 is only $45,000. If you started with a million, then it takes over a decade to get back to even, and chances are you are caught in the next devastating recession before that occurs (as happened in 2008).
What’s the solution?
Why not try an unbiased second opinion from No. 1 stock picker Natalie Pace, whose easy-as-a-pie-chart nest egg strategies earned gains in both of the last two recessions and have outperformed the bull markets in between? Natalie isn’t a broker-salesman. She doesn’t sell financial products. Her goal is to empower Main Street to be the boss of your money.
Blind faith in broker-salesmen, whose interests are not always in alignment with yours, has cost Americans half of their nest egg every eight years. In 2000, Dot Com investors lost 78% of their stocks. In 2008, blue chip investors lost 55% (or more). When you add in the fees and commissions charged (sometimes hidden or opaque on your statements), the losses are worse.
When you know what a time-proven plan looks like, then you can be the boss of your money, instead of having blind faith in strangers to do the right thing (when they are often compensated to look after their own interests above yours).
Wisdom is the cure.
Call 310-430-2397 or visit NataliePace.com to learn more. Attend the Wild West retreat to learn and implement these strategies on your own, and enjoy thousands in annual savings by using smarter budgeting, investing and energy choices. For those who used Natalie Pace’s easy strategies in the Great Recession, they were able to save hundreds of thousands (or millions), when most lost 55%!
"College students need this information before they get their first credit card. Young adults need it before they buy their first home. Empty nesters can use the information to downsize to a sustainable lifestyle, before they get into trouble."
Joe Moglia, Chairman, TD AMERITRADE.
"Many people, including educated men and women, often get into trouble when they
neglect to follow simple and fundamental rules of the type provided [by Natalie].
This is why I recommend them with enthusiasm."
Professor Gary S. Becker. Dr. Becker won the 1992 Nobel Prize in economics for his theories on human capital.
"My husband spoke with Natalie Pace, and after a brief discussion, she charted a plan on the back of a napkin. I decided to take her advice. Soon after, we had the big crash. I was one of the few and lucky people who actually made money (instead of losing). So, thank you Natalie, for saving my retirement!" Bill and Nilo Bolden.
Other Blogs of Interest (click on the blue link to read):
Spring Rally or Bubble Trouble?
The Truth About Tariffs.
2018 Investor IQ Test.
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Natalie Pace is the co-creator of the Earth Gratitude Project and the author of The Power of 8 Billion: It's Up to Us, The ABCs of Money, The ABCs of Money for College, The Gratitude Game and Put Your Money Where Your Heart Is. She is a repeat guest & speaker on national news shows and stages. She has been ranked the No. 1 stock picker, above over 830 A-list pundits, by an independent tracking agency, and has been saving homes and nest eggs since 1999.