(360) 281-6495 john@BoatDollars.com

Financial Aid – #4 (of 10) Deadliest Mistakes Parents Make…

Mistake #4: Picking colleges and universities without paying attention to where your student lies in comparison to the rest of the student body.

Reality: To increase your chances of getting the best possible financial aid packages, it is imperative that you pick schools where your child lies in the top 20% of the incoming freshman class with respect to their GPA and SAT/ACT scores. Although schools give financial aid based on your calculation of “need” at their school, they will definitely give preferential packaging (i.e., more FREE money, less loans) to students who lie in the top 10% of the incoming class. The reason they do this is to attract the better students to their school. Use this to your advantage and apply only to those schools where your child would fit into the top 10% category.

Do you want to know how to pay for college without going broke? Grab a copy of my book, The Essential Guide to College Financial Planning – How to pay for college without going broke. Paperback or Kindle version is available at Amazon – www.amazon.com/Essential-Guide-College-Financial-Planning

Would you like to learn more about How To Get Maximum Money for your Child’s College Education? Sign up for my FREE College Financial Planning Workshop & Webinar: Register for the FREE workshop & webinar here!

Financial Aid – #3 (of 10) Deadliest Mistakes Parents Make…

Mistake #3: Assuming only minority students, athletes, and academically gifted students get financial aid.

Reality: Nothing could be further from the truth! “Need-based” financial aid is solely awarded based on “financial need” which is calculated by taking the cost of attendance at a school and subtracting the family contribution (which is the minimum amount the government feels you can afford to pay based on your income and assets and your child’s income and assets). Whatever is left over after you subtract these two numbers is your “financial need” or eligibility for financial aid at a particular school. If you haven’t noticed, this has nothing to do with a student’s ethnic background, athletic ability, or grades. It’s purely based on this simple formula:

COA (Cost Of Attendance)
– FC (Family Contribution)
= FN (Financial Need)

Do you want to know how to pay for college without going broke? Grab a copy of my book, The Essential Guide to College Financial Planning – How to pay for college without going broke. Paperback or Kindle version is available at Amazon – www.amazon.com/Essential-Guide-College-Financial-Planning

Would you like to learn more about How To Get Maximum Money for your Child’s College Education? Sign up for my FREE College Financial Planning Workshop & Webinar: Register for the FREE workshop & webinar here!

Financial Aid – #2(of 10) Deadliest Mistakes Parents Make…

Mistake #2: Focusing your time and energy on a private scholarship search instead of spending your time trying to qualify for “need-based” financial aid.

Reality: Private scholarships make up only 3.1% of the money available to you to help pay for your child’s college education. The other 96.9% comes from the Federal Government, the state you live in, and the colleges and universities your child is applying to. Therefore, you are much better off spending your time and energy going after the 96.9%, rather than spending your time on the 3.1%.

Do you want to know how to pay for college without going broke? Grab a copy of my book, The Essential Guide to College Financial Planning – How to pay for college without going broke. Paperback or Kindle version is available at Amazon – www.amazon.com/Essential-Guide-College-Financial-Planning

Would you like to learn more about How To Get Maximum Money for your Child’s College Education? Sign up for my FREE College Financial Planning Workshop & Webinar: Register for the FREE workshop & webinar here!

Financial Aid – #1(of 10) deadliest mistakes parents make…

Mistake #1: Most middle and upper-middle class parents assume they won’t be eligible for financial aid because they own a home and make over $60,000 per year.

Reality: Most families with incomes ranging from $100,000 – $150,000 per year who own homes are eligible for some form of financial aid. There is over $245 billion dollars available each year from the Federal Government, the states, colleges and universities, and private foundations and organizations. You just have to know how to get your “fair share”. Unfortunately, most parents give up before they even start and assume they won’t be eligible. This is exactly what the government hopes you will do so they can keep more of these funds. Don’t make this mistake! If you fall into this category, make sure you apply; you’ll probably be eligible for SOME money.

Do you want to know how to pay for college without going broke? Grab a copy of my book, The Essential Guide to College Financial Planning – How to pay for college without going broke. Paperback or Kindle version is available at Amazon – http://www.amazon.com/Essential-Guide-College-Financial-Planning/dp/1517121388/ref=sr_1_1?ie=UTF8&qid=1444234790&sr=8-1&keywords=The+essential+guide+to+college+financial+planning

Would you like to learn more about How To Get Maximum Money for your Child’s College Education? Sign up for my FREE College Financial Planning Workshop & Webinar: Register for the FREE workshop & webinar here!

Noah the Financial Advisor…

Sailing boat

Noah the Financial Advisor: “It’s going to rain. It’s going to rain a lot. I suggest you start preparing now, before it starts raining. I’m building a boat. I’d be happy to share my blue print with you.”

Everyone else: “Fpaw! It’s not going to rain. When will it start raining?

Noah the Financial Advisor: “I don’t know exactly – and that’s sort of my point. You won’t be worse off by having a boat – even if I’m wrong and it doesn’t start raining. But, I’m not wrong. Rain is inevitable.”

Everyone else: “All the kings and all their men say it’s unpatriotic fear mongering to talk about rain. They have statistics that say rain is very unlikely. They have contingency plans to take care of us if it rains. Besides, I ‘m already prepared, I have a dugout canoe somewhere in the basement.”

Noah the Financial Advisor: “Wow. A canoe? You’re going to die.”

Everyone else: “Yeah, well maybe you’re a nut case – or a terrorist. Your boat is stupid . Well, I’ve gotta run, gladiator games are starting soon and I want to get there before those clouds on the horizon move in.”

Noah the Financial Advisor: (Exasperated sigh…)

As a safe money oriented financial advisor, I feel Noah’s pain. I think I have similar conversations with people every single day. It makes me sad. My entire motivation for becoming a financial advisor is to help people get out of the way of the coming financial storm.

I have at least one conversation every day with someone who believes their money is safe because their portfolio is “diversified.” Every penny of their wealth is in a 401K or IRA. How is this diversified? Do you really think that having a few bond funds in the mix is protecting your nest egg from a massive market crash? That’s a bit like a canoe in a maelstrom!

The Infinite Banking Concept or Bank On Yourself is like the boat that will keep you safe when the rain starts and the flood waters rise. The time to prepare is now, because once it starts, it will happen very quickly. You could very well be drowning beneath your overturned canoe in the blink of an eye.

As a financial advisor, here’s the best financial advice I can give you. Think for yourself. Tune out all the kings and their men and their statistics and promises. Think through the worst case scenarios, then act in your own best interest. You will not be worse off for building your own financial ark. In fact, someday you may look back and find it was the wisest financial decision of your life.

You can take the first, painless step by scheduling a free financial analysis and strategy session today…

http://www.jensley.com/free-analysis/

 

Rate of Return Comparison…

Springing Money small

Check out this short video by the best selling author of The Bank On Yourself Revolution and one of my fellow Bank On Yourself Advisors, Paul Nick, as they explain the real world rate of return comparison to other types of plans – using an actual policy purchased by Paul’s father in 1969. You just can’t argue with real world numbers!

If you’d like to see how a Bank On Yourself Plan will work out for you and your family, schedule a FREE financial analysis and strategy session today! http://www.jensley.com/free-analysis

Of Money and Freedom…

American Flag

In the Land of the Free we are raised to believe we live in the freest nation on the face of the earth. We are taught that the constitution guarantees this freedom and that the three branches of our government uphold it and our police and military forces defend it.

Have you ever tested the validity of these “truths?” I have… When was the last time you read through the bill of rights? Google it, it only takes a minute… Life, liberty, happiness, these are the attributes associated with freedom in the declaration of independence and the U.S. constitution.

The bill of rights further defines the rights of free people: freedom of speech, freedom of religion, right to bear arms, right to property and protection from unreasonable search and seizure, right to speedy trials, to face accusers and innocent until proven guilty, right to jury trials, protection from cruel and unusual punishment and excessive bails or fines.

Did you notice the subtle difference between the constitution and the bill of rights? The constitution and declaration are talking about some very lofty and high minded ideals, where the bill of rights describes the basic rights that free people should have. Do you see it yet?

A slave can have freedom of speech. A slave can be allowed freedom of religion. A slave can even be armed and allowed privacy and some property. In fact, a slave can have every right contained in the bill of rights and still be a slave. However, a slave can never have control and autonomy over his life, liberty and happiness. A slave can never truly be free.

Having rights and being free are two related but very separate things. The delusion we face in the land of the free is that because we have certain rights, we are free. How free are you, really?

The 9th and 10th amendments are the most fascinating to me:
The 9th amendment says that not even the constitution itself can deny any rights of the people.
The 10th amendment says that the federal government of the United States only has the powers specifically given to it by the constitution and if the framers missed something, then the people and the states get the benefit of the doubt, not the federal government, it still only gets the powers specifically given to it in the constitution.
The 9th and 10th amendments are saying pretty much the same thing, but the framers felt so strongly about it they said it twice, in two different ways, so as to be perfectly clear: The people are the supreme power in the United States of America! My, but we have certainly fallen far from the tree…

If you have ever found yourself in a dispute with the federal government – the IRS, the EPA, the DOE (education), the DOE (energy), SBA, etc., then you have probably realized that we “the people” are not the supreme power at all. In a very clever move that has played out over more than a century, the federal government has seized full and complete power over our money – and our freedom.

In a modern, technologically advanced society, power over the money is power over everything, including absolute power over you and yours. What would you do if tomorrow morning you woke to find your bank accounts empty, your retirement or brokerage accounts frozen and your wages seized?

As your food dwindled, gas tanks ran dry, mortgages and car payments went in arrears and the collection notices piled up in the mailbox, you, just like most of us, would do or agree to just about anything to turn the flow of money back on. Most of us can’t survive without it.

Many federal government agencies have the power to do exactly what I just described without going to court, without a jury trial, without a judgment, without much due process at all other than a few notices in the mail. You are guilty until proven innocent and proving your case will take years of red tape and bureaucratic stupidity, during which time you are completely powerless against them.

Hmmm, this sure doesn’t feel like what I thought being the supreme power of the land would feel like!
Now, some might say, “don’t get into a dispute with them and you won’t have to worry about it.” Of course, this is pure nonsense. It’s like telling the slave, “you can have free speech and free religion and so forth as long as you don’t disagree with me, piss me off and always do what I say… As long as you know your place and remember who the master is, you can do whatever you want.”

Slavery with benefits is not freedom! A debt laden, W-2 employee with a spouse, two kids, a mortgage, two car payments, a wallet full of credit cards and their only savings locked away in some government controlled retirement plan is little more than a slave (with benefits).

To take control of your money is to take control of your freedom. One way to do that is with a Bank On Yourself plan. Schedule a free financial analysis and strategy session today to learn how it could work out for you… http://www.jensley.com/free-analysis

 

Are Retirement Plan Fees Killing You…

Whether you lose money in your retirement plan (401K, IRA, etc.) to market losses, fraud or management fees, doesn’t really matter – it all results in loss of your precious capital. Figuring out what you’re paying in retirement plan fees and how you’re paying it in most retirement plans is about as clear as mud, but trust me, Wall Street bankers don’t do anything for free.

Recent legislation designed to improve retirement plan fee disclosures has resulted in over fifteen pages of disclosures which has actually made it more difficult than ever for the average person to determine what they are actually paying. There is still no requirement for companies to provide a simple figure or percentage to represent the overall cost to the plan participant. If you study the disclosures you can find some retirement plan fee information, but to determine that your total fees are, say 2%, is all but impossible.

I was recently at a meeting where a financial advisor for one of the largest financial planning firms in the U.S. was explaining that their overall fee structure ranged from 1.6% to 2.4% depending upon the amount of money in your portfolio and the strategies you chose. He was pitching 1.6% to 2.4% as a selling point in that these are very low compared to his competition. I put some numbers together to see for myself how it turns out in the real world. Check out the video below to see the results:

So let me get this straight. If my portfolio does well, the planners get a huge share of my returns. If my portfolio fails and I lose money or break even, the planners not only still get their fees, but I’m actually paying them out of my principle for their poor performance! By the way, none of these examples takes taxes into account. Between taxes and fees, an investor in any one of these examples would likely be losing money.

The reason management fees are so destructive to wealth building is because of the not-so-obvious fact that compounding interest works in both directions. Everyone can grasp the idea of earning compound interest over time, but few think about it in reverse. Interest you pay also compounds over time and ongoing fees as a percentage of your retirement plan balance are just interest charges by another name.

Click here to request a FREE Bank On Yourself wealth building report…

If you’d like to learn more about this and many other financial fallacies that may be eating away at your savings, grab this free Bank On Yourself special report now…

Our Financial System and The Matrix

The Matrix - Wealth Renegade“I know you’re out there. I can feel you now. I know that you’re afraid. You’re afraid of us. You’re afraid of change. I don’t know the future. I didn’t come here to tell you how this is going to end. I came here to tell how it’s going to begin. I’m going to hang up this phone and then I’m going to show these people what you don’t want them to see. I’m going to show them a world…without you. A world without rules and controls, without borders or boundaries; a world where anything is possible. Where we go from there is a choice I leave to you.”
– Neo’s phone message to the Machines. The Matrix Movie, 1999
Red pill or blue pill? Knowledge is power. Ignorance is bliss. Harsh reality versus comfortable delusion. Which is freedom, which is slavery? Does it matter? These are the powerful questions the movie is asking us to think about.
I admit it, I love the Matrix movies. I own all three dvd’s and I have a Matrix marathon at least once per year. In the movie, the machines (technology) have taken over and are raising crops of human beings that are used as batteries to provide an unlimited energy source for the machines, but most of the humans don’t know what’s going on because they are “jacked-in” to a virtual reality world where they go to work, drive around in cars, eat out, take vacations, etc. They are blissfully ignorant that their entire lives are a delusion; a delusion hiding the reality that they are slaves.
If we replace the idea of machines with banks, mega corporations, politicians and energy with money, the super sci-fi Matrix movie can suddenly hit a little too close to home.
Banks and mega corporations, in cahoots with governments world-wide, have taken over the world. They are raising crops of human beings (school systems, colleges, universities) that are used to provide an unlimited source of energy (money). Most of the human beings don’t know what’s going on because they are “jacked-in” to a virtual world (main stream media, social media, reality TV, sports, advertising, propaganda, etc.) where they go to work every day, drive around in cars, eat out, take vacations, etc. They are blissfully ignorant that their entire lives are a delusion; a delusion hiding the reality that they are slaves.
Well, that’s not a very happy thought…
Don’t despair! In the movie, there are human rebels who can jack-in to the matrix, but remain aware that it is an illusion. Because they are aware of the delusion they are able to accomplish extraordinary feats within the matrix. For the rebels, it all begins with the question, red pill or blue pill? It’s the same for us. At some point, we must choose to see the delusion for what it is, or choose to stay lost within it, blissfully ignorant.
If that was all there was to it, the status quo could go on indefinitely, but let’s not forget Agent Smith. Agent Smith is the virus in the program, the fatal flaw, that left unchecked, will bring down the machines, the matrix and destroy all the unknowing humans too. In the movie, in order to defeat Smith, and save themselves the machines must change. They must embrace and make peace with free human beings – they must find a way to work together to create a system that allows freedom to all who wish to pursue it. Time is of the essence. Smith is growing too powerful to control. The end is near. Choices must be made.
Our own version of the matrix, the financial system, is also endangered by fatal flaws, quickly becoming too powerful to control – excessive debt, money printing, market manipulation, corruption. It’s not if, but when, these “viruses” will destroy our matrix, and the lives of millions of unknowing human beings along with it. Time is of the essence. The end is near. Choices must be made.
I want to show you a world without… them. I can’t tell you how exactly it will end – no one can, but I can tell you how it begins. Where it goes from there is a choice I leave to you.
You can opt out of dealing with banks and Wall Street and work within the system to free yourself and your loved ones and prepare for the coming storm. This is all totally possible, but first you must make a choice. Will it be the red pill or the blue pill?

Click here to request a FREE Bank On Yourself wealth building report…