What Millions Believe

...That’s Really Killing Them

1. I contribute the maximum allowed by the IRS to my 401k and/or qualified plan because I realize that there is no tax advantage in doing this and I prefer to face the probable higher taxes which I will pay on this money tomorrow over the lower taxes I could chose to pay today.

2. I really do buy into the selfish mentality that I’m NUMÉRO UNO and that my spouse and children should have to work for every dime they spend because I could really care less about what they’ll have to do in order to make ends meet after I’m dead and gone.

3. I believe that owning bonds, stocks and mutual funds is the smartest move that I can make because I have billions of dollars to offset the volatile market swings just like Warren Buffet, Donald Trump and George Soros do, and I know they keep buying more of this stuff every time the market crashes.

4. I think gold and silver should be purchased and hoarded up so that when all paper money goes away that I will be really rich and famous even though this has never been documented to have occurred historically...not even once.

5. I concur with the stereotypes of David Ramsey and Suze Orman whose mantra is to “pay cash for everything.” Therefore, I will never let anybody abuse me by charging me interest for the use of their money even though I know I could make more money by using their money occasionally. And I purposefully choose to remain completely ignorant of how it is that I lose money every time I pay cash for anything.

6. I get excited knowing that by close adherence to these principles I am guaranteed to die poorer, give up more liberty, and possibly have to work harder all my life, than if I would never have adopted this creed. But I don’t care because poverty is a virtue as far as I’m concerned. Besides, the rich should have to pay more taxes to support me.

7. I openly admit that I don’t really care that I will leave my children with the risk of higher taxation on anything that I do happen to leave to them, once I am dead and gone, simply because I am close minded, opinionated, and completely refuse to listen to the facts, dictates of reason or logic.

8. I believe and adhere to all the above because my mind is made up!

a. My life will be a life that is committed to being a follower of ignorance, a member of the herd, rather than one who listens to wisdom!

b. I will never even once consider that owning participating whole life insurance could alter the consequences of the choices mentioned above because I don’t want to live a happier more productive or contented life.

c. I adore feeling deprived and underprivileged and I rather like the attention others heap on me because of my position in life.

d. I would rather die walking off a financial cliff, like all my fellow herd members, than to be thought of as someone who is smart, savvy or even... God forbid... one of the rich folks in this world.

e. Therefore I will play follow the leader all the days of my life and live in, or near, destitution meditating on how much better it is to be bitter and poor rather than happy and wealthy so help me...!

Hope you don’t mind my satire today. If you donot subscribe to this way of thinking, then I hope you can join us for the Rx for Wealth Workshop in Orlando, Florida and learn how you can Become Your Own Banker!

By Tomas McFie