Category: Level One

PODCAST: The First Step Towards Financial Independence

Jerry Robinson provides a step-by-step tutorial of Level One of our powerful “Five Levels of Financial Freedom.”

VIDEO: Real Estate, Crypto, & Supply Chain Update

On this week’s live coaching call, trading coach Jerry Robinson delivers a wide-ranging investing update along with an in-depth Q&A session.

PODCAST: The Profit Principle

In this week’s broadcast, Jerry Robinson reveals the financial principle that radically redefined his approach to saving, and ultimately changed his life. Also, precious metals expert Tom Cloud joins Jerry with the latest news in gold and silver.

Interview: Randy Alcorn on Money and Happiness

Why aren’t more Christians happy, especially when we have everything that money can buy? Listen for the answers in this special interview with Randy Alcorn.

Cut the Fat: Four Ways to Stop Wasting Money

The following tips and ideas can help you and your family “cut the fat” from your budget.

10 Ways to Avoid Shopping Traps and Spend Less Money

Here are 10 ways to battle the urge to overspend.

8 Easy Ways to Save Money Fast

Here are 8 simple ways to save money fast. Why keep giving your money away to the corporations when you could be saving this money for yourself?

12 Common Ways Americans Waste Money

Whether it’s hidden fees, personal bad habits, or disorganization, Americans throw away money by the billions each and every year. Here are twelve of the most common wastes and how to avoid them.

Want $1 Million At Retirement? Here’s How Much You Should Save

Let the immense power of compound interest work in your favor as early as possible.

You’ve Been Warned: Why You Need to be Ready for Total Grid Failure

If you haven’t been in a bubble cut off from all forms of media lately, it would be impossible to have missed all of the warnings being issued about the impending loss of our electrical grid.

What Are Your Financial Goals?

By Jerry Robinson | FTMDaily.com Editor-in-Chief

It has been a rough ride in the global economy as of late. If you are an investor, you know that great financial perils exist right now… but so do great opportunities. It is this ability to recognize those opportunities that separate those who are financially successful from those who are not.

Most of the financially successful people I know are doing extremely well right now. Many of them have confided in me that the last two or three years have been some of their best years ever. I would have to agree.

To understand why, consider that my definition of financial success is our Five Levels of Financial Freedom. Sure, not every successful person that I know has used our wealth building system. However, their financial lives are structured very similarly to those who have.

One common trait that nearly all financially successful people share is that they have a well diversified investment portfolio with exposure to several different asset classes, including stocks, real estate, and precious metals. Instead of getting hung up on which financial product to buy, they focus on their overall financial goals, which then leads to the creation of a financial strategy.

This really is a major difference that sets the wealthy apart. Unfortunately, most people do this backwards. They listen to the financial media and think in terms of which financial product is “best.” This is the typical approach to financial planning by most Americans.

In contrast, the wealthy person asks “What are my financial goals?” Then they create a financial strategy to meet those goals. The financial products they buy are determined by their financial strategy. 

When I speak around the country, I am often asked by the audience where they should put their money. That’s the wrong question. That’s the question that will lead you to the poor house. The right question is: “What are my financial goals?” Until you can answer that question, you cannot create a solid financial strategy. And until you have a financial strategy, you cannot possibly know where to put your money. 

Once after speaking at a conference in Washington, a woman who was in her 60’s came up to me to ask where I thought she should put her money. When I asked what her financial goals were, she replied, “My nest egg is all I have and I just don’t want to lose it. I want to receive an ongoing income from my investments without having to worry if I will outlive it.”

When I asked her if she had ever considered an annuity, she cringed and said, “Oh no. I hear those are bad.”

“Who says that annuities are bad?“, I asked. Her reply was telling. “That’s what I have heard on the radio,” she stated. I asked her if she always did her financial planning on AM radio. She chuckled and then continued to ask if I knew anything about an exotic currency (the Iraqi currency) and whether it was a “good” investment!

Bless this woman’s heart. Friends, this is exactly how the poor stay poor. They actually believe that the way to wealth is by picking the right financial products. Those who are wealthy, however, think strategy first, and products second. 

Now I do not know if an annuity would have been right for her. That would have to be determined by her and her trusted financial advisor. But I can tell you that based upon her stated goals of creating a lifetime income stream from her nest egg, it should have at least been a consideration.

To further illustrate this point, consider this: I am a decent golfer and have a nice set of golf clubs. However, put me on the golf course with Tiger Woods and it does not matter how nice my clubs are. I could have the most expensive set of clubs on the planet and he could have the cheapest. It would not matter. Why? Because Tiger’s power is in his “swing”, not in his golf club. Its strategy, not product, that the wealthy consider first.

Your takeaway: Stop listening to the financial product pushers and instead focus on writing down your financial goals. Then, create a financial strategy for achieving those goals. Finally, consider which financial product would be best for reaching your goals. Don’t fall for the simple thinking that some products are good and some are bad. When you think this way, you fall into the financial salesman’s trap. Instead, some financial products are right for your particular goals while some are not right for your specific goals.  

Building An Emergency Bug Out Bag

In Level One, Jerry explains the importance of being prepared. One of the steps that you will undertake in Level One is to create an emergency kit that could sustain you for the first critical 72 hours if disaster were to strike, thus enabling you to evacuate at a moment’s notice.

Eleven Obscure Places to Hide Cash in Your Home

Here’s a sampling of some of the places that our readers tell us that they are hiding their cash.

The Importance of Creating an Emergency Fund

Podcast: Play in new window | Download (Duration: 6:04 — 5.3MB) | Embed

An emergency fund is one of the first things that people need to do immediately to help them build a successful financial plan. And no, your credit card is not an emergency fund.

How to Create A “Go” Bag

One of the first action steps of starting your financial gameplan is to create a “go” bag. What exactly is a “go” bag?

PRODUCT REVIEW: The Katadyn Pocket Water Microfilter

I don’t know of a better portable water filter on the market anywhere near this price.