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Welcome To Our Educational Workshop On: Living Debt Free And Truly Wealthy Based On The Found Money Management Concepts This Workshop Is For Educational Purposes Only… Our Goal Is To Provide Every Family With The Strategies and Help They Need To: Be Debt Free Establish An Emergency Fund Fund A College Education Maximize Retirement Income Achieve Financially Security Ground Rules Be open-minded to new ideas Be willing to suspend your disbeliefs Sit back, relax and put your checkbook away we are not here to sell you anything Remember… Today is the first day of the rest of YOUR life. How We Work… You Never write a check to me personally We are paid directly by the institutions we represent - with their money, not yours. No charge to work with your CPA/Attorney We are here to serve YOUR needs! Interest Rates Are Samples Only… Interest Rates used in this presentation are for illustration purposes only! The Facts Of Life… Out Of Control Consumer Debt Minimal Savings Stock Market Losses Low Interest Rates Soaring Federal and State Taxes Questions About Social Security Benefits and Today you can add falling house prices, disappearing jobs, flat wages, lower benefits, and skyrocketing costs for the most important consumer items The Unfortunate Facts Of Life… Out Of 100 People Reaching Age 65: 36 Will Be Dead 54 Will Be Financially Embarrassed 5 Will Still Be Working 4 Will Be Financially Secure Only One Will Be Wealthy Where Would You Like To Be? What’s Your Plan To Get There? The Us Bureau Of Labor and Statistics The Great American Dream… We Grew Up Hearing… Go to College Get A Good Job Buy A House Pay Off The Mortgage ASAP Save A Little Each Month …You’ll Be Set For Life! It Was Rock Solid Advice… Because Our Grandparents and Great Grandparents… Lived In The Same House For Life Had One Job Their Entire Life Lived On One Income Retired With A Pension Had NO Credit Card Debt Saved A Little Money Consistently Could Count On Social Security Planned On Being Retired For Only A Few Years However, Life Has Changed… Today, We’ll… Move 4-6 Times In Our Life Have 3-7 Jobs During Our Life Need Two Incomes Just To Live Never Have A Pension Struggle With Credit Card Debt Save Very Little Money Worry About Social Security Being There Be Retired For 30 years, Or More So, How Do We Keep The Great American Dream Alive? We Need To… Get Back To The Traditional Ways We Managed Our Money Find Ways To Cut Expenses Without Changing Our Lifestyle Find Ways To Make All Of Our Money and Assets Work For Us Establish Better Priorities In Our Financial Lives What’s The Number One Problem Keeping Us From Attaining The “Great American Dream?” How Big A Problem is Debt? The number of Americans filing for bankruptcy increased by nearly 40 percent in 2007… One out of 49 households filed for bankruptcy. And it is increasing in 2008. Credit card debt in the U.S. is soaring - almost tripling since 1989. The Average Family’s Credit Card balance is $19,000 Average Interest Rate Paid On That Debt? 15.15% How Much Is Your Debt Really Costing You? If you have a Credit Card balance of $19,000, with an Interest rate of 15.15%… How much is that $19,000 of Debt really costing you per year? $2,878.50 Per Year! Is that $2,878.50 better off in the banks pocket… or in yours? If you saved that $2,878.50 each year for 5 years what would it be worth? $14,382.50 Plus Interest What Other Problems Are A Direct Result Of Having Too Much Debt? Little or no Savings US Savings Rate In 1970 was 8% US Savings Rate Today is (– 1%) No Source of emergency funds, besides the credit card Lack of insurance! Future planning problems – NO college fund for kids, NO retirement planning, etc… What If You Could Reduce And Eliminate All Of Your Debt Without Taking Any Additional Money Out Of Your Pocket… Or Changing Your Current Lifestyle? How Do You Quickly Reduce And Eliminate Your Debt? Identify Money That You May Be Spending Unnecessarily, or In The Wrong Places Find And Use Credit Cards With Lower Rates Combine Your Credit Card Balances Use Equity Lines of Credit To Pay Off Debts Prioritize Your Spending Stop Using Your Credit Cards Devise A Well Conceived, Coordinated Action Plan, Using These And Many Of The Newest Wealth Building Strategies Of Today If You Saved The Credit Card Interest Of $2,878.50 Per Year… In 10 years @7.2%, you would have… $43,039 In 20 years @7.2%, you would have… $129,299 In 30 years @7.2%, you would have… $307,184 Would You Feel More Financially Secure? Let’s Talk About Retirement… When You Retire What’s More Important… The Amount Of Money You’ve Saved, Or, The Amount Of Money You Get To Spend? If You Could Take Your Retirement Income Tax Free… How Much More Money Would You Have To Spend? If You Do A Good Job Of Saving For Your Retirement… Will You Be In A Higher Or Lower Tax Bracket When You Retire? Answer: Most of us will be in the same tax bracket or possibly higher. If Taxes Will Be The Same Or Higher In The Future… Why Do We Keep Putting Money Hand Over Fist into 401k’s, IRA’s, 403b’s Etc...? Let Me Put It Another Way… If You Were A Farmer… Would You Rather Pay Tax On The Seed… Or The Harvest? Pay Tax on the seed now… and get all the corn TAX FREE!!! More ‘Smart Money’ Moves… Now Imagine What Could Happen, If You Could Find More Money To Eliminate Your Debts and Put Into Savings, By… Increasing the Deductibles On Your Home Owners Insurance, Auto Insurance, Health Insurance, Disability Insurance, etc… Re-positioning Your Assets And Income To Qualify For Free College Financial Aid Money… Taking Advantage Of The Free Money In A 401K… Reducing Your Income Taxes… And, It Gets Even Better… Become Your Own Banker! How About The Next Time You Decide To Buy A Car, Make A Major Purchase or Need Money For A Business Opportunity! You Borrow The Money From Yourself Instead Of A Bank! Then You Pay Yourself The Principal And Interest You Would Have Paid The Bank! How Much Better Off Would You Be? The ‘Living Debt Free And Truly Wealthy’ Program Is Ideal For… People With Heavy Consumer Debt… People Who Are Concerned About Funding Their Retirement… Families Who Are Concerned About Funding College And Qualifying For Financial Aid… Commissioned and Self Employed People… People Who Want The Better Things In Life… Best Of All, With Proper Planning And Guidance… All Of This Can Generally Be Accomplished Without You Spending A Penny More Than You Are Spending Today! So, What’s The Next Step? Is It Worth 40 Minutes Of Your Time To See If You Can… Reduce or Eliminate Your Debt! Reduce Your Income Taxes! Increase Your Savings! And Have The Better Things In Life! It All Starts With A Plan… Remember… It wasn’t raining when Noah built the Ark. “Helping people to live debt free and truly wealthy.” What If Your Savings Vehicle… Could Reap the Upside Potential Of The Stock Market, Without The Downside Risk! Guaranteed Your Investment Principal! Had A Minimum Interest Rate Guarantee! Offered Tax Deferred Growth! Had No Early Withdrawal Penalties! Had Tax Free Access! Could Pay Off The Mortgage If You or Your Spouse Died! Was Self Completing If You Became Disabled!