If you rely on the media for guidance about money and investing you will soon find yourself lost in a forest of financial misinformation. Both the financial media and the mass media develop their information from sources within the financial community – lobbyists for a specific point of view that serves the bottom line of Behemoths, not your best interests.
Even worse, the well known “advisors” who appear on television and the radio are performers and pundits, not trained financial guides. Their goal is to sell advertising to support their “show” and books and tapes and seminars and speaking engagements to sell their next book, tape, seminar and speaking engagement. I have no problem with that; it’s free enterprise and it makes us all stronger. I do it myself, but in addition, I put my 35+ years of experience helping individuals, families and businesses small and large with money issues into the equation.
That’s not the point of this post, however. Watching the news this morning to catch up on the primary results I realized that over 60% of the commercials on three different cable networks – CNN, FOX and MSN – were focused on negotiating tax relief with the IRS, negotiating debt reduction with credit card companies, acquiring new credit cards, borrowing to buy things and “interest free” purchases. Another 20% focused on capturing your money in 401(k) rollover accounts, planning for your “dreams” (interesting choice of words), on-line stock trading or other investment schemes, health insurance or mortgage rates. (I guess the politicians are wisely watching the commercials instead of the “shows.”)
The commercials do not address the same topics as the pundits and performers. They do address the issues my clients talk about every day, “How can I have the things I need and want without the risk of debt overtaking my personal economy?” or ”How do I run my business so the profits come to me and not the IRS?” or any of dozens of other questions about current concerns; paying for college, or health care, or retirement, or housing, or vacations, or cars, or…you get the picture.
My point is this: American’s are trapped in an outmoded pattern of thinking I call The Debt Paradigm, which recites its mantra non-stop: “You can have everything you need and anything you want as long as you have enough credit.” We are even using credit to pay for our retirement when we finance the things we need and want and, at the same time, put money aside in an IRA, a 401(k) or its equivalent instead of paying for what we buy with money from our own “bank”.
The Point! The media and the pundit performers always operate in their own best interest not yours. They continue to tell the story of The Debt Paradigm as if it were the gospel. Even when they decry debt, they still promote the corrolary to the main mantra, which is that investing is better than saving. They are wrong. Americans have lost thier way. The past offers wisdom and the 21st century offers powerful financial products that serve you and not the Behemoths.
You owe it to yourself, your family and your future to discover the secrets to Money for Life…in good times and bad. If you don’t want to spend the $29.95 to buy the book, at least get a head start on your future and get the FREE white paper Why Budgets Don’t Work at www.TheMoneyForLifeBook.com
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