Which Money Mindset Are You?

pyschology-money-3

The most common money mindset is:

Positive Seeking + Negative Blocking = Sitting Duck

This is what makes bubbles and boom-bust cycles. Most people are a sitting duck each time a bust comes and they lose a lot of money. They know seeking out the positive can be helpful, but they keep hearing “nobody could have seen that coming” or “it surprised us all” as excuses from stupid financial advisors, stupid economists, stupid analysts, stupid politicians, and stupid news anchors. It’s frustrating but the average person doesn’t know that they can do anything about it.

The 2nd money mindset is:

Negative Seeking + Negative Confronting = Stress, Fear, Disease, & Death

When one learns about things working differently than they had thought they did, it’s often presented as “bad news that you can do nothing about.” So while an investor might confront the fact that economic crisis events happen, he concludes nothing can be done to avoid losing tons of money in them. This can cause a “bad news” downward spiral, causing stress and fear, which then can contribute to disease and early death.

While it’s true such a bad outcome is the result of choice, this 2nd mindset prohibits its host from seeing it that way.

The amazingly powerful, but rare 3rd money mindset is:

Positive Seeking + Negative Confronting = Safe & Happy

When an investor is willing to confront the “bad news” that crashes happen and we’re always headed toward another one (the “boom-bust cycle”), that can be combined with a Positive Seeking outlook which causes the investor to find a solution. This mindset accepts that bad outcomes aren’t universal. Every single investor didn’t lose money in 2000 or 2008… just the majority. Armed with this 3rd money mindset, an investor can seek out the people who aren’t losing money in economic crisis events and find one who is willing to share how he did it.

This mindset is particularly resourceful as it causes research and then action in order to overcome the dangers confronted. Once that problem is solved, you can continue moving your life in a positive direction and enjoy being safe and happy.

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3 Reasons To Put Real Physical Gold In Your IRA

gold in IRA

Last month I taught a webinar about using Self-Directed IRAs, and I did a Q&A session at the end.

Guess what the #1 question was?

Can I put Real Physical Gold in my IRA, and if so how do I do it?

And I think those investors are on the right track. Real Physical Gold is a major part of my portfolio, and for 3 reasons:

  1. Wealth Preservation
  2. Ongoing Wealth Growth
  3. “Collapse Insurance” Windfall Profits

Most people know about #1. Gold has been storing value successfully for over 3000 years.

On the other hand the dollar is a type of currency known as a “fiat currency” and these have a 100% failure rate. Historically, they’ve always gone to zero.

That usually happens with fiat currencies after about 30 or 40 years, and the dollar became a fiat currency in 1971. (Thanks, Nixon)

That means there’s a really big chance that the dollar could collapse to hyperinflation like all the other fiat currencies have.

Which brings us to #3…

“Collapse Insurance” Windfall Profits

 

Heck, I just made a training video for everyone who has registered for the webinar, so I’ll just post it here for you. It talks about how “you’re already registered” but if you aren’t then just use the link below the video to register.

It’s 100% free, but spots are limited, so after you watch this video, click the link below it to reserve your seat:


Reserve your spot to attend this webinar

 

Will the Government Take Away Your IRAs?

There’s been a lot of talk out there about the government taking away retirement accounts, just like has been done in Portugal, Poland, and already for some in the U.S.

This video will show you how to block that kind of thing from happening to you and keep your retirement funds safe :-)

The “Jury” Decides on ROBS – Can you legally fund a business purchase or startup with a Self-Directed 401k?

Boy do I get a lot of blowback every time I share my findings about why the government has declared ROBS illegal!

Why is there not a specific government ruling on ROBS?

Great question!

It’s because once an issue has been ruled on, they don’t repeatedly consider it. “They” are the Department of Labor, and the first step of learning about Self-Directed IRA and 401(k) rules is finding out that “prohibited transactions” are an issue outside the jurisdiction of the IRS and in the hands of the Department of Labor (DOL).

When ROBS Was Ruled On

It was 2006. Debra Buchanan, the creator of the IRA LLC, asked the DOL a question about structuring an investment deal to avoid “prohibited transaction” status. (This was before she split with Guidant and became my legal counsel, but that’s another story.)

The DOL came back and said (paraphrased)

It doesn’t matter how you structure things or pursue exemptions. We’ve been clear throughout various rulings ["Advisory Opinions"] that a specific part of the law books [IRC 4975(c)(1)(D)] makes it prohibited for IRA or 401(k) funds to be used to benefit their account owner or family, unless it’s a taxable distribution.

That’s translated into humanspeak. You can see the actual ruling here. Untranslated legal language in it says:

…Department opinions interpreting [regulations] have made clear that a prohibited transaction occurs when a plan invests in a corporation as part of an arrangement or understanding under which it is expected that the corporation will engage in a transaction with a party in interest (or disqualified person).

The ROBS Coffin Is Sealed

This issue is so straightforward because DOL ruled on it as a bigger issue. DOL has received countless letters that ask “But what if I structure my Corporation this way or that way… do I then successfully evade the rules and regulations?”

And they always respond, “No. Using Self-Directed IRA or 401(k) funds to benefit the account owner or their family is always prohibited unless it’s through a taxable distribution.”

Tip: Don’t Piss Off The Government

I know that’s kind of common knowledge, but I wonder if you notice from the DOL language—”Department opinions interpreting [regulations] have made it clear”—that they are already (in 2006) annoyed at all the clever attempts at evading the rules and regulations.

Not a whole lot of wiggle room here. Zero, to be exact.

I know, I know… it’s bitter medicine. Especially if you dreamed up an awesome future all provided to you by ROBS.

But it’s quite easy to swallow if you get real and refocus your attention on legal strategies that actually work.

Nabers Group vs. the Other Guys

Why should you use my company to setup a Self-Directed IRA, IRA LLC, or Solo 401(k) instead of those others?

It’s quite simple really…

Those other companies all promote an illegal scheme called ROBS, and if you are a client of a company promoting an illegal scheme, you are a target for nasty IRS audits.

Best case audit scenario: After months or years of being audited, you are finally cleared. Your assets might be frozen during that time, and you may incur tens of thousands of dollars in attorney fees to defend yourself.

Worst case scenario: If you used the ROBS strategy yourself with, say a couple hundred thousand dollars, you could incur MILLIONS of dollars in taxes. Yep, you read that right. The tax penalties are [Read more...]