SHOW NOTES – 22 Income Streams You Can Create Both Now and in Retirement
Plus, a shocking update for precious metals investors
Weekly News Wrap
On this week’s show, Jerry Robinson discusses this week’s important news headlines and gives his commentary. Here are some of the headlines.
Transatlantic talks got underway this week amid a dark cloud of suspicion after the explosive leak detailing secret wiretapping and surveillance of the European Union by the U.S. The United States Trade Representative, Michael Froman, made these remarks at the July 8 meeting:
“In TTIP, we have the opportunity to accomplish something very significant for our economies, for our relationship, and for the global trading system as a whole. We have an opportunity to spur growth and to generate significant increases in the already substantial number of jobs supported by transatlantic trade and investment. We have the opportunity to complement one of the greatest alliances of all time with an equally compelling economic relationship.”
As we have mentioned before, this U.S.-EU partnership will likely be sold to the citizens as the “ultimate stimulus plan,” creating jobs and economic growth with little costs to the people of each nation. We believe these talks will press on even amid the latest global spying scandal revealed by Edward Snowden.
Global financial markets responded positively to the release of the June FOMC minutes. The minutes revealed that Bernanke showed no sign of wanting to begin “tapering” current QE levels. Many analysts now believe that Bernanke will not allow a cut in QE at the September meeting. This caused stocks and hard assets to soar after suffering from nearly a month of sideways trading on low volume.
In other news, the Obama administration was accused of “selling public office” after yet another top donor secured a highly coveted public service job. While this practice has long affected D.C., it has become even more pronounced under the Obama administration. President Obama has rewarded some of his most active campaign donors with cozy jobs in foreign embassies, with the average amount raised by recent or imminent appointees soaring to $1.8m per post, according to a Guardian analysis.
22 Income Streams You Can Create Now and in Retirement
In Segment two, Jerry outlines the 22 income streams that anyone can create both now and in retirement. The average American family has three income streams: 1. Husband’s job; 2. Wife’s job; 3. Interest-bearing CD or savings account. This is a scary way to live, especially in the age of outsourcing and computerizing tasks.
Even more frightening is that the average American retiree has only two income streams: 1. Social Security benefits, 2. Pension/401k/IRA distributions. Imagine if one of your income streams dried up. What would you do? Would you have to rush out and get the first (lousy) job you can find, or would you have the opportunity to wait until the perfect job becomes available? Would you be relying upon unemployment income from the government to sustain your family’s living expenses? What if you become disabled or partially disabled?
If you are like most Americans, the answers to these questions is not pretty. But we have a solution: CREATE MULTIPLE STREAMS OF INCOME. By creating multiple streams of income, you do not lie awake at night worrying whether or not you will get laid off or whether or not Social Security will continue sending your checks every month. This concept is taught in the Bible when the book of Genesis says:
“Now Abram was very rich in livestock, in silver, and in gold.” (Genesis 13:2)”
Abraham also had herdsmen and servants, which meant he was an employer… he was a business owner. We would do well to pattern our lives after this example in order to truly obtain financial freedom.
In this segment, Jerry helps you get started by discussing all 22 streams of income listed in our book, Bankruptcy of Our Nation. We encourage you to find an idea you are interested in and get started right away creating a new income stream!
Tom Cloud joins us for his weekly Precious Metals Update. In this segment, Tom reveals shocking information that could potentially send the price of metals soaring. A former Goldman Sachs banker turned hedge fund manager, William Kaye, revealed information about missing Fed and German gold and about how much gold the People’s Bank of China really owns in an interview with King World News on July 9, 2013. Listen as Tom explains what this could mean for the price of gold.
Never Miss An Episode!
In this week’s Retirement Minute segment, contributor John Bearss answers a common reader question, “Should I Buy Term or Cash Value Life Insurance?” The decision of whether to buy term or cash value also known as permanent life insurance depends on your personal needs and how much you want to spend for life insurance coverage. To determine which type of insurance is best for you, it’s important to understand the difference between the two. Listen as John explains the difference.