Financial Answers "IN SIMPLE LANGUAGE"

Happy New Year 2009 to all the wonderful readers of In Simple Language.  May 2009 bring you and yours peaceful times, prosperity and abundance in all you do, and goodwill from all those that you come in contact with throughout the New Year.

 

I know 2009 will be better than 2008.  The only place we can go from here is up so let’s get up and get going and make it better.

 

The new In Simple Language, better than ever, will begin this Monday, January 5, 2009, with a new format and series on mutual funds.  It will give you answers to questions about mutual funds and better prepare you for your investing needs moving forward into 2009. Don’t miss this informative and helpful series. 

 

 

In Simple Language is dedicated to helping you understand the complex world of the financial arena and helping you solve your financial investment problems using simple language.

 

 

 

Thank You.

Rich

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I know I know.  I said that I would not be doing anymore rants and raves about financial stuff.  But I said that I wouldn’t be doing that starting in 2009.  So these are my last attempts at getting my anger and disgust out over the blatant stupidity of our congress.

 

I was reading several articles about where the TARP (Troubled Asset Relief Program) money, that’s so far $350 billion of the $770 billion authorized by the idiots that make up congress, has gone.  It’s hard for me to image that congress never put any reporting requirements or controls or anything on the banks.  They just gave them $350 billion of our dollars and said, “have a good day!”

 

This Is More Than I Can Believe

 

How did we elect these morons that make up congress?  How can you give away $350 billion and not ask any fundamental questions like “Mr. Banker what is the first thing you are going to do with this money to help get the financial crisis to go away and get the economy back on track?”

 

These idiots in congress didn’t ask this one basic question or any questions.  They just rolled over and genuflected to his majesty Treasury Secretary Paulson, former head of Goldman “Sacks the Public”, and handed him the money.  Paulson than handed out billions of dollars to his friends with a wink!  Now tell me who really runs this country?

 

I probably should have called the title of this section “This Is Really What I Believe.”  This is another example of the arrogant, condescending attitude of the financial industry and these bankers in particular.  Most bankers I know are not like this bunch of dirt bags.  My bankers really try to help and be honest in helping their customers.  Of course these bankers are local community banks not the national and regional jerks who think they can do whatever they want.

 

Here’s What These Dirt Bag Bankers Said

 

Every one of these banks that were asked what they were doing with the money received at least $1 billion of our hard earned tax dollars.  Yet they would not disclose to anyone what they have done with the money.  Some of their responses when asked about the money were:

 

• We have lent some of it?      My question: Well how much and to who and what’s left?
• We’re not providing dollar in dollar out tracking.  My question:  Why not? Do you have something to hide? Do the bank examiners know that?
• We don’t know where the money is going?  My response: Wait while I grab my chest and catch my breath in disbelief.  Now that is a bank that I would want to do business with. Wouldn’t you?   You’re a bank for God’s sake and you don’t know where the money is going!
• We manage our capital in the aggregate.  My response: How can anyone, especially a financial institution do that?  Where are the regulators?  I was a bank examiner year’s back and we would have had a fit if we heard this.
• We’re choosing not to disclose that.  My response:  Than give me back my $1 billion plus.
• The money can’t be tracked.  My response:  Quick Uncle Sam shut this place down before they lose the rest of everyone’s money.
• We’re not sharing any other details.  My response:  Excuse me, it’s my money.

 

Where Are the Regulators?

 

These responses by the banks are so outlandish and absurd that these banks should be nationalized just for the hell of it.  How can anyone who is a customer of these banks sit back and do nothing.  These are the banks that are responsible for your money and these are the banks that are trying to sell you their products and have you invest with them and they don’t know where the money from the TARP program is going?

 

Wake up America!  This is beyond being acceptable.  If you don’t get on your bank’s case about this then don’t sit there and complain about the way things are with the economy.  If you won’t take action than you disserve to be taken advantage of. 

 

Get on the phone right now or go to your branch or better yet the main office and ask, no demand, to see the president of the bank. Have him or her explain to you where the hell your hard earned tax dollars, that you have “given” to the bank, have gone.

 

If you read this far there may be something about this post that you are relating to.  There may be some financial related pain In Simple Language is talking about.  Tell us your story.  We really do want to know.

 

·         Please ask your questions of In Simple Language.

·         Please give In Simple Language your comments and suggestions about this post and/or future topics of interest to you.

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Thank you for taking the time to visit In Simple Language.  J     Copyright © 2008

 

Looking for a financial speaker or financial writer?  Contact Rich today at rsowa@insimplelanguage.com or call Sowa Financial Media now at (502) 569-1714.

 

Check out the “SERVICES” tab above the beginning of the post for all available services.

 

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For the last two weeks, I have been collecting comments from my readers both through emails, telephone, and in person.  The questions that I posted on In Simple Language two weeks ago were about changing the format of the blog posts and moving to a “How to” or “The 5 best ways to” or something on that order.

 

It seems that the majority of people that I corresponded and talked with agree that In Simple Language needs to provide more solutions and answers to financial problems, your problems, rather than ranting and raving about some dirt bag CEO making too much money while his/her company is going down the toilet.  I may start a separate blog for my ranting and raving on financial issues and dirt bags.  Let me know if you think that might be worthwhile.

 

So here is what we are going to do.  Since In Simple Language is writing this blog for people like you than we want to give you what you want.  We may not be able to post this type of “article” more than once per week because of the additional time and research involved.  However, if you get a lot of value out of that one post, than it is worth it and that’s what we will do moving forward.

 

In Simple Language will start this new format beginning in January 2009 and we welcome any more ideas, suggestions, thoughts, comments or anything else you can think of to make this financial blog effective and worthwhile reading for you.

 

But keep in mind that this is a joint venture between you and In Simple Language and In Simple Language is willing to research and write the solutions to your financial questions and problems. But we need to know what your financial questions and problems are.  So don’t be bashful.  Tell In Simple Language what’s bothering you and we will do our very best to find solutions for you.

 

Season’s Greetings and Happy New Year to all of you.

 

 

If you read this far there may be something about this post that you are relating to.  There may be some financial related pain In Simple Language is talking about.  Tell us your story.  We really do want to know.

 

·         Please ask your questions of In Simple Language.

·         Please give In Simple Language your comments and suggestions about this post and/or future topics of interest to you.

·         Like what you read?  Send it to a friend.  Click on “share this post” right above leave a comment below.

·         Did you remember to bookmark this blog?

 

Thank you for taking the time to visit In Simple Language.  J     Copyright © 2008

 

Looking for a financial speaker or financial writer?  Contact Rich today at rsowa@insimplelanguage.com or call Sowa Financial Media now at (502) 569-1714.

 

Check out the “SERVICES” tab above the beginning of the post for all available services.

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As we approach the end of 2008 and look forward to a better year in 2009, I am asking for your input.  If you have been following In Simple Language since its inception in April, 2008, almost eight months ago, you may have noticed some small changes in the way I presented the content.

 

I originally started this blog with the intent on posting every day.  However, because of the complexity of the topics and the amount of research involved, I finally cut back to three times each week.  Usually this has been Monday, Wednesday, and Friday when possible.

 

I have had some very interesting and enlightening comments along the way…. both online and offline.  With that said, I am currently considering changing the whole format and structure of In Simple Language from random financial subjects using my own experiences and opinions to a more structured “How to” or “The 5 best methods for” type of structure.  More of a “if this is your problem than these are the ways to fix the problem”.

 

This is where I need your input.  I’ve designed and write this blog for you so I want to get your input on what “you” want to read.  Do you want more structured educational articles/posts or should I leave it as is or is there something else I should be doing?  If I change the structure to  more of a “How to” format than I will probably only be able to post once or twice each week.  There is a lot more time and research in a “How to “ type post.

 

I really need your input on this.  No matter which way I end up writing In Simple Language it is here to stay.   I may not post for the rest of the week until I get feedback from my readers on what you want me to do.  I don’t want to waste your time.  So please give me your comments and suggestions at rsowa@insimplelanguage.com .  They will be greatly appreciated.

 

Thank you for your time.

 

Rich

 

 

 

 

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This week has been devoted to two types of retirement plan programs….the 401k, used by employees of “for profit” organizations and the 403b, used by employees of “non-profit” organizations.  Both of these programs are critical to the retirement success of all employees.  I mean really, does anyone believe that they will be able to live on social security alone. Although, sadly enough, a lot of people do.

 

Lots of Other Retirement Programs

 

There are a lot of other retirement programs that are available that I have not touched on.  What about the people that are not employed by corporate America or the non-profit world?  What about those adventuresome entrepreneurs that report to the toughest bosses on the planet-themselves?  What do they have to ensure their retirement?

 

Entrepreneurs, the self-employed, have a variety of retirement programs to choose from.  First and foremost is the Keogh plan.  I’m not sure if that is the correct way to spell Keogh because I have seen it spelled at least three different ways so please bear with me.  The Keogh plan allows self-employed individuals to put money into this retirement program that is tax deferred and grows through compound interest-the ninth wonder of the world according to Albert Einstein.

 

There is also the Simple 401k plan for small businesses, the Simple IRA, the regular IRA, the Roth IRA, the Qualified Tax Deferred Annuity, the Non-Qualified Tax Deferred Annuity, and a host of others that have made retirement planning a specialty for many financial advisors because of all of the complexities of retiring.

 

As you can see, there are a lot of retirement programs to choose from whether you are an employee of a corporation or non-profit or self employed.  What you may not know is you are eligible for many of these retirement programs in addition to your current retirement program regardless of what that may be.  Check with your trusted financial advisor or accountant.

 

Tough Love Retirement Strategies

 

The real reason I am bringing all this up about all these various retirement programs is what is happening to all of the participants in these programs.  If you aren’t aware of it-where have you been?-we are officially in a full blown, knockdown, drag out recession, the likes of which we have not seen in many years.

 

I am reading article after article about how everyone is having a difficult time making ends meet and many people are relying on withdrawing money from their retirement programs just to survive.  I am seeing investment advisors having a difficult time telling their clients that they need to stop funding their retirement programs and divert money to an emergency fund because of all of the job losses and layoffs.

 

The pain is everywhere and advisors that I know-I was one once upon a time-are having many sleepless nights trying to do what is in the best interests of their clients.  I remember 1987’s stock market crash and how difficult it was.  This is worse.  However it is not something we can’t overcome.  It will pass.  I just don’t know when.

 

The point to all of this is that you have to put your priorities in order now.  Do I stop funding my retirement account or is there something else I can do to offset the loss of any income?  Should I be looking for a second job?  Should I be starting a business on the side?  You know where I am going with this.

 

If you stop funding and start withdrawing money from your retirement programs there will be hell to pay to try and catch up if that’s even possible.  That’s means working longer and/or reducing your life style in retirement.  Think about this long and hard and then make a decision.  It’s your retirement life.  What you do today will directly impact tomorrow.

 

Here’s a list of retirement planning books that you may want to check out.  They are:

 

• The Everything Retirement Planning Book
• If You Can’t Beat’Em, Join’Em
• Live Long Live Rich
• The Complete Idiots Guide to Retirement
• Planning Retirement Rx

 

If you read this far there may be something about this post that you are relating to.  There may be some financial related pain In Simple Language is talking about.  Tell us your story.  We really do want to know.

 

·         Please ask your questions of In Simple Language.

·         Please give In Simple Language your comments and suggestions about this post and/or future topics of interest to you.

·         Like what you read?  Send it to a friend.  Click on “share this post” right above leave a comment below.

·         Did you remember to bookmark this blog?

 

Thank you for taking the time to visit In Simple Language.  J     Copyright © 2008

 

Looking for a financial speaker or financial writer?  Contact Rich today at rsowa@insimplelanguage.com or call Sowa Financial Media now at (502) 569-1714.

 

Check out the “SERVICES” tab above the beginning of the post for all available services.

 

 

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