“Showing freedom from social conventions or traditional ideas”
In last week’s digest, I wrote that, over the course of the next few weeks, I was going to give you the theory and thought process that led Jean & me to the name of our company, “Liberated Investor Advisors, LLC’, and the URL for our web page, www.theliberatedinvestor.com.
Albert Einstein once said, “The definition of insanity is doing the same things over and over again and expecting different results.” In the financial world, things have been pretty much the same for a long period of time. Almost all advice given is based on two factors, deferment of income taxes, if possible, and accumulation. IRAs, 401Ks, Annuities and other such financial products are primarily based on sending money into the future and hoping to meet up with it at a much later date under favorable conditions. In the meantime, clients lose control of their wealth, there’s no liquidity and the money is not available for use without painful costs.
In the attached article, written by Byron Moore, a LEAP® practitioner and acquaintance of mine, one of the most powerful statements, in my opinion, is “We don’t know what we don’t know”. Because those that benefit from your problems are not going to help you fix them, most Americans are totally unprepared for any emergency or possible retirement.
Again, to quote Byron, “But awareness of the problem, accountability to deal with it and advice on what to do next can be important tools to help lift the fog on cloudy thinking”. This in turn may “liberate” you from traditional financial thinking and lead you to protecting, building and enjoying your wealth.
More to come. Have an enjoyable holiday and a great next week.