admin Anyone who has any type of banking policy has probably come across the term Modified Endowment Contract, or MEC. You may have noticed a portion of your whole life policy illustration or contract stipulating whether or not it is a MEC. You may have even seen numbers indicating the additional amount of Paid-Up Additions that … Read more
ECONOMISTS DEFEND THE FED—by Robert P. Murphy
There is No Such Thing as Trickle-Down Economics. Critics of liberalism and the market economy have made a long-standing habit of inventing terms we would never use to describe ourselves.The most common of these is “neo-liberal” or “neo-liberalism,” which appears to mean whatever the critics wish it to mean to describe ideas they don’t like
Traditional financial planning pays much more attention to accumulating assets for retirement than to the reposition and distribution of assets during retirement. It is not surprising since most financial advisors are compensated based on the amount of assets under management. Let us be clear; the reason for savings/investing is to generate future passive income when … Read more
WHEN WILL THE CRASH OCCUR?—by Robert P. Murphy
The Republican and Democrat Party Conventions are now behind us. But through all the cheers and jeers, hoopla and poopla, warnings of a dark and dangerous future or promises of a bright and beautiful shapeof-things-to-come, one of the most serious shadows hanging over America was hardly mentioned at all: the unsustainability of the “entitlement” programs … Read more
ITALY’S FINANCIAL SYSTEM: TOO BIG TO FAIL—TOO BIG TOO SAVE by L. Carlos Lara
As you are probably aware, traditional financial planning tells you of three sources from which you could generate passive income when you could no longer generate active income for yourself: 1) a pension or defined benefit plan, 2) social security and 3) a defined contribution plan (a 401(k), 403(b) or IRA). Since the late 1970s, Wall Street and … Read more
Let Kids Buy What They Want “Sweetheart, I think you’re making a terrible decision. However, I am not going to stop you.”
Don’t Confuse the Declaration of Independence with the Constitution
