A new book released today by Daniel Ameduri, called Don’t Save for Retirement, could potentially help millions of Americans. Wall Street will either screw you or fee you to death, and this book will teach people how to avoid retirement and live a life that is truly financially free.
I hope it saves millions of Americans from the current financial scam we call retirement. It’s honestly the best book I’ve ever read, and I plan to read it every 6 months.
Wall Street wants you to focus on asset accumulation and diversification through stocks. Don’t fall for it.-James Davis, Future Money Trends
James Davis wrote further:
For the most part, the mutual fund industry exists to get Wall Street rich. It’s why the idea of retirement and buying and holding is so important to them because without new money constantly flowing into Wall Street, Wall Street really can’t make money. Real diversification means to diversify away from Wall Street and its cookie-cutter portfolios.
By building a cash flowing portfolio, you are essentially building a financial moat for your household that isn’t a slave to capital gains and Wall Street’s fees.
In our opinion, the only time one should focus on capital gains is when you believe you can leapfrog your net worth higher, which usually means more risk, so keep those positions at a minimum and make sure you are 100% confident in those positions.-James Davis, Future Money Trends
It certainly is a different way to look at things. Growing up, we are all told to save for retirement. Invest your money and start young. And that has obviously helped those at the very top, so what’s the alternative? According to the book, Don’t Save for Retirement: A Millennial’s Guide to Financial Freedom
The first chapter and the intro of the book are being offered for free. Click here to read them.
When he was twenty-seven years old, Daniel was on the brink of bankruptcy. A decade later, he’s a multi-millionaire, having taught himself about economics, investing, and other money matters that he never learned at school or at home. The expert guidance he provides in Don’t Save for Retirement will help you:
· Redefine wealth as a philosophy, not a dollar amount
· Turn passion projects into viable business plans
· Cut unnecessary spending in unexpected places
· Start generating passive income now!
Working toward retirement at one job for a lifetime is a thing of the past, and isn’t working out at all for millennials. Here’s a better plan for achieving financial independence and living a life you love.
It Took 22 Years to Get to This Point
Robert F. Kennedy Jr. has claimed to be ready to lock up Bill Gates, Dr. Anthony Fauci, and every...
This article was originally published by Rhoda Wilson at The Exposé under the title: Philippines...
This article was originally published by Michael Njoku at The Mises Institute. In the history of...
The National Microbiology Laboratory in Winnipeg has confirmed that the infection in a teenager in...
Commenting Policy:
Some comments on this web site are automatically moderated through our Spam protection systems. Please be patient if your comment isn’t immediately available. We’re not trying to censor you, the system just wants to make sure you’re not a robot posting random spam.
This website thrives because of its community. While we support lively debates and understand that people get excited, frustrated or angry at times, we ask that the conversation remain civil. Racism, to include any religious affiliation, will not be tolerated on this site, including the disparagement of people in the comments section.
Will Rodgers advised Buy Land they aint making any more of it. That’s still good advice if you buy income producing real property. land that has something on it that makes you money while your sleeping is what you need.
I know several people with rentals and they aren’t that thrilled with it. If you want a low maintenance low BS income build some storage units. Low cost, low care, steady income, no brainer. Houses and apartments are a giant pain in the arse! When people get booted out of their house they put their stuff in storage. If they fail to pay you just auction off their stuff. Simple as can be and a lot less landlord tennant law BS. Construction costs are minimum, or you can just buy a lot and gravel it and put oversea containers on it. You can thank me later lol….
I met a guy who sold his hardware store and bought storage facilities. He said I had my entire life hanging on the shelf. He said with storage units there is NO inventory, just space to rent.
I have been pondering that storage idea for decades. And expanded on multi-use for that in another business model. People have storage lockers in a Horseshoe fashion set of buildings with the garage doors on the outside of the horseshoe. On the weekends the center opens up and the garage doors all open up on the inside of the horseshoe and it turns into flea Market. In the outside door and sold off on the inside.
This way people don’t have to cart around all their BS from flea Mkt to another. It sits in storage all week, and on the weekends the inside doors open up for a shopping mall of flea Mkt locker stores.
Add a food court and its all cash, parking, food, rent, all cash business. You like?
Damm that’s a good idea! Thanks 🙂
Thought I’d Retire, and just got Tired.
Invest in your own personal security, Home paid off, cars paid off, no debt, live off the grid in every way. Just look at the taxes you pay on your electric bill. Paying money out for nothing. Scrap the cable bill and go exercise outside, like going a bike ride. Its all about life style changes to meet your goals. the healthier you are the less you need to pay in medical bills. Eat healthy and drink a lot of filtered water. Gun / Ammo security, PM’s, Fuel security, Food security with 1 to 2 years backed up at least on hand. Live in the country and secure your property. The Government is going to try and steal it any way they can. From eminent domain to tax defaults. Live well within your means. Have plenty of tools, skills to fix stuff and plan ahead, well ahead of the horror a coming. Those unprepared or dependent are gonna get a big wake up call. Grid Down = NO FOOD, NO Electricity and NO Phones working, No internet, No ATM’s, No water pressure, and a hungry family staring at your sorry unprepared asses. Deal with it.
Ditto… Our last power bill was 10 bucks lol. Grid tie solar saves a lot of $$. 2 properties paid for and everything else. You still need fed notes and storage units are great.
look at what this article is telling you to do. buy a bunch of shit and not worry about saving for the future. sounds like someone is trying to convince people to spend the little $ they have. not buying shit till rich people pay more and it makes it to my pocket. not gonna spend more than i make. i hate people who talk stupid you only live once yolo. ok so i should piss hard earned $ away. i will drive the biggest piece of shit with a be popular bumper sticker.
This advice is obviously much easier as you get “long in the tooth” but I have seen seniors with a mortgage. Get out of debt and don’t live in a high tax area.
Real estate without improvements can earn income. You can rent Hunting leases. Or rent it for pasture or hay ground if its fields. You can create a tree farm. sell saw logs & firewood. Sometimes you can get paid by the government to do things like Acres for Wildlife or some type of conservation program. There are folks around here that pick up the rocks and place them on pallets and sell them.
i wouldnt sign up with any gov conservation program. they aill tell you what to do with your land. making deals with the gubmint for a little income is making yourself dependant on them. cant believe youd suggest this og.
For what it’s worth, I studied finance at a Big 10 school, and I’ve worked with money most of my life. Here’s my 2 cents worth:
1. Dividends – Yep. Especially in this investing environment, or if you’re close to retirement. But there’s many investment vehicles that offer dividends. In my opinion, learn to invest in utilities. It’s very rare for a utility company to go belly up. Only fools invest in bonds these days.
2. Rental Income – If you own it outright and it’s not in an area overrun with communists, sure. Thinking of buying it with 20% down and being dependent on having renters? Take a pass.
3. Banking (Lending) – Neither a lender or a borrower be. I disagree with this one. Find a good electric company yielding 4% or so.
4. Whole Life – completely disagree with this one. By and large whole life policies are too expensive. Term policies are cheaper and can meet your life insurance needs better. Discuss death with your spouse as well. I told my wife to take me straight from the morgue to the incinerator as cheaply as possible. Put my ashes in a 64oz guzzler and pour them into my favorite stream at Yellowstone.
5. REITs – I knew what I was doing and still got clobbered by a REIT failing in 2010. Stick to UTILITIES. Much, much safer.
6. Private Business – Of course, working for yourself is best if you can.
Anyway, yeah, you can write books on this stuff.
Have a great night,
Chuck
Chuck….100% agree with your assessment. I’m a CPA and have been self employed with my own practice for the past 30 years. I have accumulated over 40 rentals and invested in tangible assets (guns, gold, silver) but I have ZERO retirement! I once had a retirement but then lost all of it in my divorce about 10 years ago. My retirement plan is about 15 years away but I have no worries due to the assets that I have accumulated. The greatest service you can do for yourself is to stay out of debt or manage debt so that you are not working to pay the banks or credit cards. Live below your means and don’t buy depreciating assets like expensive cars and jewelry.
Hey Chip in NWFL
40 rentals? Wow, that’s incredible. I have a paid for, modest residence. And I’m buying a rental duplex in a small town. I’ve realized that owning rental property is my only path to some sort of stable financial future. I’d love to hear your advice and guidance for a younger guy on how to navigate the rental game. If you’re willing, send me an email.
[email protected]
“Rich Dad, Poor Dad”
.
It’s all boils down to understanding the difference between want vs need.
So many people want the “magazine lifestyle” just so they can impress people.
There’s only so many things in life that a person needs,but the list of “wants” is endless.
If you try to “keep up with the Jones’s” you will probably end up a regular down at the soup kitchen within a few short years.
Live within your means and chances are you’ll be alright.
Living within your means may not be a very exciting lifestyle, but it sure beats living paycheck to paycheck and having to work well into your 70’s because you were not capable of managing money.