Noah the Financial Advisor: “It’s going to rain. It’s going to rain a lot. I suggest you start preparing now, before it starts raining. I’m building a boat. I’d be happy to share my blue print with you.”
Everyone else: “Fpaw! It’s not going to rain. When will it start raining?
Noah the Financial Advisor: “I don’t know exactly – and that’s sort of my point. You won’t be worse off by having a boat – even if I’m wrong and it doesn’t start raining. But, I’m not wrong. Rain is inevitable.”
Everyone else: “All the kings and all their men say it’s unpatriotic fear mongering to talk about rain. They have statistics that say rain is very unlikely. They have contingency plans to take care of us if it rains. Besides, I ‘m already prepared, I have a dugout canoe somewhere in the basement.”
Noah the Financial Advisor: “Wow. A canoe? You’re going to die.”
Everyone else: “Yeah, well maybe you’re a nut case – or a terrorist. Your boat is stupid . Well, I’ve gotta run, gladiator games are starting soon and I want to get there before those clouds on the horizon move in.”
Noah the Financial Advisor: (Exasperated sigh…)
As a safe money oriented financial advisor, I feel Noah’s pain. I think I have similar conversations with people every single day. It makes me sad. My entire motivation for becoming a financial advisor is to help people get out of the way of the coming financial storm.
I have at least one conversation every day with someone who believes their money is safe because their portfolio is “diversified.” Every penny of their wealth is in a 401K or IRA. How is this diversified? Do you really think that having a few bond funds in the mix is protecting your nest egg from a massive market crash? That’s a bit like a canoe in a maelstrom!
The Infinite Banking Concept or Bank On Yourself is like the boat that will keep you safe when the rain starts and the flood waters rise. The time to prepare is now, because once it starts, it will happen very quickly. You could very well be drowning beneath your overturned canoe in the blink of an eye.
As a financial advisor, here’s the best financial advice I can give you. Think for yourself. Tune out all the kings and their men and their statistics and promises. Think through the worst case scenarios, then act in your own best interest. You will not be worse off for building your own financial ark. In fact, someday you may look back and find it was the wisest financial decision of your life.
You can take the first, painless step by scheduling a free financial analysis today…
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That’s a knowing answer to a dicffiult question