The American Public has been brainwashed into thinking that in order to grow a sizable nest-egg, they must accept risk, volatility and unpredictability. But clearly conventional approaches to financial and retirement planning aren't working.
Santa Fe, NM (PRWEB) February 21, 2008
According to Pamela Yellen, of the financial education service Bank On Yourself, "The American Public has been brainwashed into thinking that in order to grow a sizable nest-egg, they must accept risk, volatility and unpredictability. But clearly conventional approaches to financial and retirement planning aren't working." Yellen points to articles that appear daily in the media about how most retirees are having to severely cut back their lifestyle, or return to work, due to falling interest rates and screeching declines in the stock and real estate markets as proof of this.
"I wanted a dramatic way to draw attention to the fact that people don't have to rely on hope and that there's a viable alternative to traditional saving, investing and retirement planning strategies, called Bank On Yourself, that can help people achieve both their short- and long-term financial goals and dreams, predictably and without losing sleep," says Ms. Yellen.
"I hoped a $10,000 'carrot' would motivate people to at least consider an alternative that's unconventional but proven, and which has existed for more than 100 years. So I'm offering to pay $10,000 to the first person who can prove he or she has a better means of creating personal financial security than the Bank On Yourself method." (Applies to US residents only)
According to Ms. Yellen, the Bank On Yourself method includes these 18 advantages and guarantees:
1. No risk to principal, even in a downturn
2. Guaranteed rate of annual increase
3. Can be administered by stable company in business at least 100 years
4. Dividend issued if the company's results outperform the minimum guaranteed annual increase
5. Annual increase and dividends locked in and protected no matter what's happening in the stock market or real estate market
6. Worry-free confidence that the plan is safe and secure
7. Takes luck and skill out of the equation and provides guaranteed results
8. Ability to borrow the money in the plan, use it to make major purchases, and recapture the interest that would otherwise be paid to a bank or finance company
9. Plan can also be used to get back full purchase price of big-ticket items
10. Ability to access both the principal and growth potentially tax-free (under current tax laws)
11. Plan owner controls the equity and can easily access and use those funds
12. Continue to earn dividends on the full value of plan, even after borrowing against it
13. Does not rely on Social Security or other at-risk government-funded programs
14. Unlike conventional retirement plans, no penalties for early, late, or no withdrawals, and no minimum withdrawal requirements
15. Accurate projections of minimum guaranteed value and minimum annual income, providing peace-of-mind for retirement planning
16. Plan is protected from creditors and lawsuits, in many states
17. Full maturity value of the plan passes income-tax-free at death, and can be many times current plan value
18. Affordable minimum and no government limits on how much can be put in each year - ordinary working people can easily do this!
Yellen, who has been a consultant to financial advisors since 1990, is the author of a Special Report on Bank on Yourself. Anyone considering entering the $10,000 Challenge can download and read her Special Report that explains in detail how the Bank On Yourself method works. Full details on how to submit an entry to the $10,000 Challenge, along with the Challenge rules, will also be sent to everyone who requests the Report, available at no charge at: http://www.TakeTheBankOnYourselfChallenge.com.
Journalists: For more information, please contact Pamela Yellen by emailing her assistant, Lynn Kent, at Challenge@cybermesa.com To download reproduction-quality photographs of Ms. Yellen, in color and black and white, go to http://www.boypr.com
(c) 2007-8 Pamela Yellen