Many Americans have a goal to retire, often around the age of 62 or age 65.
However, with proper planning and investment, a goal to retire at an earlier
age can be attained. And this is where things can get tricky. Along with
planning, there is a lot of advice to be given. Unfortunately, it is not
always the best advice. Tips and ideas which worked well years ago are not
always applicable in today’s economy. In fact, some familiar money tips could
actually jeopardize your future.

In this time & age, it takes new rules to become wealthy, and many old rules
have to be reviewed against the backdrop of today’s economics. For example, the idea that working hard for an employer will reward you with a financially
solid retirement is about as true as a three-dollar bill. The current
environment for the corporation is really set up to look out for the
corporation first. Buzzwords like “down-size” and “re-engineer”, often
done without regard to the employee’s well-being, make us weary of the
true value of working for someone else.
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It is important to select the right bank. Do NOT choose
any bank-be fussy! There are two main objectives to seek
when searching for a new bank. 1.) Find a bank that is
agressively seeking new business. 2.) Choose one with
which you can develop a personal relationship.

To select a bank that is agressive, simply watch for
extended advertising campaigns. They are very costly, and
must bring in new business in order to be continued.
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In 1938 a federal law was passed known as the Wage
Earner Plan. It is administered by the same branch of our
courts that handle bankruptcy. You must be a wage-earner
to use the law - that is the primary requirement. The
Wage Earner Plan does not in itself ‘wipe out’ debts, but
a little-known proviso of your filing requires that your
creditors must appear to verify your indebtedness to them.
Statistics indicate that 40% fail to appear, in which
case, those debts are indeed ‘wiped out’. In some cases
100% of the creditors fail to appear, which enables you to
wipe out ALL your debts without bankruptcy. If some of
the creditors do appear, then the court allows you to
spread your payments out over a three year period in
smaller amounts so that you can afford to pay.
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How many times have you heard that you should buy a house because it is an
investment and when renting you have nothing to show for it? And that your
monthly mortgage check would build equity for you? Well, this myth is also
true in the business world.

Consider the following example of a Florida company that bought an office
building $170,000. Their mortgage payment was just a little more than their
old rent, but they had the pleasure of calling their office their own. So,
they assumed they were making (or at least saving) money.
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Consumer credit reporting agencies (CRAs) collect credit
information on you from banks, department stores, credit
card companies, and other types of financial institutions
that may extend you credit.

CRAs make money selling the information they have in their
databank, including information about your credit profile.
Because of this, it is only prudent that you exercise your
legal rights as a consumer, know what is in your credit
file, make sure they are accurate and challenge it and
have it corrected when necessary.
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Failing finances are a common problem now-a-days. How does
one extricate himself from a heavy debt load? There are ads that
offer to do that … for a price. It may be the answer for some.
However, there are things one can do for himself.

The first step to relieve debt is not to make any more.
There are very creative ways to save money. Ben Franklin said,
“A penny saved is a penny earned.” Bill Gothard said several
years ago, “A dollar saved is a dollar sixty earned!” In other
words, taking into account the multitude of revealed and hidden
taxes, working expenses, etc., one then needed to earn $1.60 in
order to have $1.00 to spend! How much do we have left today?!
One of the best and most practical resources for saving money is
Dr. Alfred W. Munzert’s book Poor Richard’s Economic Survival
Manual (Franklinville, NY: Hemisphere Publications, 1982). Dr.
Munzert raised a large family on a teacher’s salary and his
children received a college education. I am still amazed by many
of the strategies he used. Buy the book, or request it at your
library.
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Here is a true story about bankruptcy, and the advantages
it offers. A husband and wife team of practicing
psychiatrists, with a joint income of $78,000 per annum,
accumulate personal debts totaling $22,000, and also have
outstanding a $33,000 mortgage on their com-fortable
suburban New York home. They are not in arears, nor even
over their heads. They simply seek more discretionary
spending power.

Their solution to the problem? They file for bankruptcy
and are able to immediately reduce their debt load to a
mere 10 cents on the dollar, repayable on an extended
schedule in very small amounts. An officer in one
of their finance companies notes that they could refinance
the mortgage or even sell the house. But you will see in
a moment why that was not necessary.
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Here is another passport to success in taking advantage of
a good deal or profitable transaction when it passes your
way. “Signature loans are your key to the vault”, and
because they are based on your signature alone, they
are also known as “Character Loans”. No co-signer or
collateral is involved in a real signature loan.

With pen in hand, based on your prior credit history and
also your own experience with the bank, your signature can
draw from $1,000.00 to $250,000.00. It all depends on
your ability to pay the money back.
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There are plenty of freebies out there, if you like magazines,
computers and books. These opportunities exist in their own
little worlds, and while they often seem invisible to the average
person, there is an active industry in all three areas.

Take trade magazines and trade journals for example. Many of
these are controlled circulation magazines that give free
subscriptions to people in the field. Their interest is in
building a documented subscriber list; the larger the list, the
more they earn in advertising rates. In many instances, this
makes it easy for you to be put on the list of subscribers, even
if you are not in the industry.
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You can travel almost anywhere in the world and stay free in
private homes or luxury hotels. How? By one or both of the
following methods:

METHOD 1:

Join a Cooperative Exchange and Travel Club (listed below) for a
small annual membership fee. As a Travel Club Member you will
receive a list of as many as 5,000 names and addresses from all
over the U.S. and throughout the world. Only members receive the
list. As a member, you offer your home as a stopping point for
compatible people when it is convenient for you. In return, you
stay for free in any of the over 5,000 homes throughout the
world! Most of the people who belong to thee clubs are
interesting, adventurous and fun-loving.
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