Category Archives: Financial Information

What you see ain’t so

Back in the 1980’s I was a partner in a pension company that we sold to a public company in 1987. I stayed in the business into the 1990’s and the people I saw and met with were all successful business owners and their advisors. What I saw were people who made plenty of money to take care of themselves when and if they chose to retire.

It wasn’t until the owners began to retire, or sell their business, or terminate their company’s retirement plan that I began to meet with the employees and talk about their financial situations. Prior to the plan’s termination I would meet the employees in groups. I would explain how the employer was contributing to their retirement plan and what their present and future benefits would be.

But when the qualified retirement plans would end, I began to meet with the employees individually. We would talk about what they wanted to do with the distributions that they would receive. That is was when it opened my eyes to the reality. What I saw with the owners and their advisors was NOT what the world looked like. That was only 5% of the population.

The other 95% of the population were the employees and both their situations and mindsets were completely different. I would explain how rolling over their retirement money into an IRA would be the best thing to do. It would avoid both the income taxes and the penalties on their money. Almost all of the employees were younger than age 59½ .

Here are the things the employees told me:

“I’m going to make a down payment on a new car.”
“I’m going to buy one of those new big screen TV sets.”
“It’s time for my wife and I go to on a nice vacation.”

What became obvious was that I had no idea of the mindset of the majority of the population. What I saw was not what was real for most people. In the words of Gloria Steinem “Rich people plan for three generations. Poor people plan for Saturday night.” What I saw was the 5% rich, and not the 95% poor. The people I hung around with had the wealthy mindset, and that was the mindset I chose to adopt.

What do you see?

What is your mindset?

Who do you hang around with?

What do you believe that just ain’t so?



Credibility Input Requested

For the last couple of months I have been working on a video series to teach the same system that I covered in my live online course. It is the same system I used to go from broke at age 50 to multi-millionaire. As a reminder, the profits from my online courses, books and financial/business coaching I donate to the charity,

But do I have credibility?

My step-daughter may have a valid point. She said I should not be doing these videos in my Hawaiian shirts, like I wear all the time. She said it does not create the credibility that I am wealthy. It does not make me look like people should listen to me.

What do you think?

If you recall, there were demonstrations by people who condemned the “one percenters.” These were the people who fell into the 1% of the population that appeared to have a disproportionate share of the wealth in America. On Google you can find out how large of a net worth is needed to be among the top 1%, and I am there very comfortably.

BUT I do not, have not, and have no plans to, dress in expensive suits, wear expensive watches, or drive a fancy car. I have no need or desire to be flashy to impress people I will never know. It is more important for me to be comfortable in my own skin.

So, I have been doing these videos in my Hawaiian shirts.

The picture in this post is an example – a photo with two of my four grandchildren after we built a work bench together:

Please weigh in (by commenting below) and let me know if you think it is okay to do the videos in my Hawaiian shirts, or if I should dress in a way that would impart more credibility.
Have a Happy Halloween, and thank you in advance for your comments.



The Broke Philanthropist

There is nothing that hurts my heart more than to see a philanthropist that is broke.

– Rennie Gabriel

So often I meet with, or speak with, people who have a big purpose. They are skilled at what they do and can make a big impact in the world. However, they often lack the business skills, or ability to execute a systematic approach to reach their goals and create the impact that is deserved. Instead of making money first, and an impact second, they attempt to make the impact first from a place of no money.

You might have established a podcast; written a book, or be working on a book; created a program live or evergreen; or written articles that have been widely published. As an example, a book is a tool to reach the world, but it is NOT the key. You cannot create a global impact with a book but no money.

Like many people, you might think you will make money selling a book, but that is NOT where the money is in becoming an author. The book gives you the credibility to be taken seriously, and be paid more for your advice than a non-author. The very word, authority, is made from the word author.

My best example is the book The 7 Habits of Highly Effective People by Stephen Covey. For my example, please forget his royalty was probably about $1 each, and that he has sold millions of copies. Let’s say he printed 1000 copies on his own at $10 each and gave one away to each head of the Human Resources Department of the Fortune 1000 companies. And let’s say out of 1000 people he reached out to, he was only able to book 3 trainings based on his concepts at $500,000 each. His $10,000 investment would produce $1.5 million in revenue. That is where the money is made in becoming an author.

There are two points I want to make: One; open your mind to the best way to make money as an author. As you can see, it is not about selling books; it’s about the leverage you create when you become an author. Two; when you have money you have more credibility, and more leverage to make the impact you want to make.

And the system I used to create a multi-six figure passive income is the same one outlined in my Wealth On Any Income book. That is what allows me to donate 100% of the profits from my online programs and coaching to charity.

My publishing company put out about 80 titles in the bookstores, so I do know something about the book publishing industry. So, if you are working on a book, and have some questions, please feel free to reach out to me and I will answer your questions.



Data Breach, Smata Breach -Equifax

By now everyone knows about the Equifax data breach, including scammers who will compound the problem with phony email solutions. Beware of the phishing emails. By now everyone knows about the Equifax data breach, including scammers who will compound the problem with phony email solutions. Beware of the phishing emails.

Here is an example that I received: Αffесtеd bу thе Εquіfаx brеасh? Ηеlp prоtесt уоur іdеntіtу nоw.

It came from LifeLock <info> which is certainly not a LifeLock email address. And if you place your cursor over the body of the email (do NOT press your Enter Key) you will see you will be directed to a website that has nothing to do with LifeLock. This is the scammer website to steal your identity.

The important thing to understand with the Equifax data breach is that Equifax did not patch a third party application that they were supposed to, and criminal hackers obtained access to the records of 143 million people. The vast majority were Americans, and while the records from people in other countries were also exposed, it is so much smaller.

The point is YOU need to protect yourself and assume your records have been compromised. The hacker criminals got access to vital information like names, social security numbers, birthdates, addresses, and in some cases, driver’s license IDs and credit card numbers.

What can the criminals do with that information?

How about this:

  • Open financial accounts
  • Apply for credit cards, mortgages, and other financial services
  • Get medical care at your expense
  • File for a tax refund in your name
  • Get a job in your name and let you pay the taxes (I cannot believe a criminal would want a job unless there is more they can steal… just saying.)

Bottom line: Complete Identity Theft.

What should you do?

Put a credit freeze on your credit reports to prevent anyone from doing the above. You can release the credit freeze if you apply for a loan because you will have a 10 digit Personal Identification Number (PIN) to use, and it should be never be giving to anyone else.

Here is where to go to do that: Equifax: (800) 685-1111 or

I suggest doing it online as I did. I seriously doubt Equifax is prepared to accept 100 million new phone calls.

This is one of the best explanations on how it happened:



Wealth Expert; Fake, Phony or Real?

There are many people in the financial advice space who will tell you how to make more money, get more clients and become wealthy. Some are wildly successful from growing seminar businesses or gathering money from other people to invest. Some write books, have TV shows, do podcasts, write columns or send out enough direct mail they could wipe out a forest.

How do you know who to trust with your money?

How about DO NOT trust anyone else with your money except yourself?

If you are on my list and have read any of my emails, then you know that I am comfortable financially. I am not a billionaire like Warren Buffet or Sheldon Adelson or Mark Zuckerberg. And do you really think you would, or could, have personal access to any one of them?

Our home is paid off. We have enough passive income that we not outlive it, and there will be plenty of money to pass on to our heirs. You can ask any advisor you might think about working with to share their personal financial situation with you. I am willing to do that. You could find out they need fees or commissions from YOU to pay their bills.

What do you want?

Do you want to:

  • Stop worrying about credit card bills?
  • Know you will always have enough to cover your bills?
  • Cover emergency expenses without using credit cards?
  • Dramatically grow your business and your income?
  • Feel comfortable about how and where you make investments?
  • Have your work be a choice instead of a requirement?

To learn how to do the above you can watch some of the videos on my website; you can fill out the forms that you got for free with a summary of my award winning, best-selling book; and if you want personal support, I am here to serve you. You can book a time to speak here:

As a reminder, because I am able to live on my passive income I donate 100% of the profits from my book, coaching and speaking to charity, mainly




** This article also featured on “Rise Up for You”

Check Scam

Have you ever posted an ad on Craigslist, or some other website, to sell something? Well you have probably been warned to only work with people locally, and beware of phone checks, cashier’s checks and money orders.

Recently I was selling a beautiful stainless steel fridge for a friend who moved out of state. It was only about 2 years old, had about 22 cubic feet of storage, French doors for the refrigerator, a lower freezer, ice maker and cost about $2400 new. It was advertised for $1200 on Craigslist.

Here is how the scam works:

  1. You get an email, text or even a phone call that someone wants to buy it and pay full price. Sometimes they might ask what your lowest price might be, but that’s just to appear legitimate.
  2. They ask you to take down your post because they will buy it from you.
  3. They will send you a cashier’s check, business check or money order right away.
  4. They are out of the area and will have someone pick it up from you and ship it to them.
  5. The check you receive is hundreds, or thousands, of dollars more than the price you agreed to.
  6. You will be told their assistant made a mistake, or some of that is to pay the shipper, but you can keep an extra $50 for your trouble. Just send back the difference in funds to the scammer. Example: Item sells for $1000. You receive a check for $3000. You send back $1950 of real money to the scammer and are left with a check of $3000 that will bounce.

Here is the silly situation: The cost to ship this fridge from California to Florida would be anywhere from $300 to $1000. It makes no sense to spend that much extra money when it could be purchased in Florida for the same amount, or less, and not have to pay for shipping.

The point is; do NOT sell to someone out of the area unless the individual can be verified. Do NOT send anything until funds clear your bank (this could take 10 days). It is best to just deal with people who are local to you and will pay cash. Cash will never bounce unless it is counterfeit.

You will see below a copy of the FedEx mailer that was used.


Some items of note:

  • It shows it was sent from someone local to me, but the person said he was in Texas, and the check was drawn on a Florida bank and I am in California.
  • Edge Artists and Associates is a phony company with a phony Facebook page
  • The phone number goes to an individual that has no company and has no knowledge of the scammer’s name; in this case Samson Wilson.
  • The check drawn on the bank is for an account that is closed, or checks have been stolen (The phone number in the memo section is for Regions Bank)
  • All of this information can be obtained from the FedEx envelope or Google.

My goal in sharing this information is to potentially assist you in avoiding an unpleasant situation in the future.



Saving Capitalism

While sitting in my doctor’s office last week I ran across a Time magazine article from May of this year entitled Saving Capitalism. Because I enjoy articles about finance that round out my understanding of money, I picked it up.

The point of the article is that banks used to loan money to businesses to expand their ability to sell products, perform research, manufacture goods or whatever. And that lending approach created jobs. Since about 1980 the shift has been to loan money against existing assets to create profits. And companies that made money through selling products they manufactured now make more money by loaning money, from Sears to General Motors and General Electric.

This shift leads to a loss of jobs, and it is a global issue not limited to the United States. It shows up from the growth of the financial industry and debt-fueled speculation to how shareholder value is determined based on short term planning for profits instead of long term viability of companies.

The question to ask is whether or not financial institutions are lending money in ways that provide a true and measurable benefit to the society at large? Or, are they lending money primarily to enrich themselves?

The following are a few  paragraphs from the article, and you can read the whole thing >>here<<.

Over the past few decades, finance has turned away from this traditional role. Academic research shows that only a fraction of all the money washing around the financial markets these days actually makes it to Main Street businesses. “The intermediation of household savings for productive investment in the business sector—the textbook description of the financial sector—constitutes only a minor share of the business of banking today,” according to academics Oscar Jorda, Alan Taylor and Moritz Schularick, who’ve studied the issue in detail. By their estimates and others, around 15% of capital coming from financial institutions today is used to fund business investments, whereas it would have been the majority of what banks did earlier in the 20th century.

To get a sense of the size of this shift, consider that the financial sector now represents around 7% of the U.S. economy, up from about 4% in 1980. Despite currently taking around 25% of all corporate profits, it creates a mere 4% of all jobs. Trouble is, research by numerous academics as well as institutions like the Bank for International Settlements and the International Monetary Fund shows that when finance gets that big, it starts to suck the economic air out of the room.

It’s even the reason companies in industries from autos to airlines are trying to move into the business of finance themselves. American companies across every sector today earn five times the revenue from financial activities—investing, hedging, tax optimizing and offering financial services, for example—that they did before 1980. Traditional hedging by energy and transport firms, for example, has been overtaken by profit-boosting speculation in oil futures, a shift that actually undermines their core business by creating more price volatility. Big tech companies have begun underwriting corporate bonds the way Goldman Sachs does. And top M.B.A. programs would likely encourage them to do just that; finance has become the center of all business education.


When I make more money…

It is funny how some comments can inspire us and others we easily forget. Recently I got an email from a staff training I presented to the U.S Bankruptcy Court. The lady who sent the email was commenting on how she would like to save more money, and then invest, and that as soon as she earned more money, she would do that.

Her comment inspired me to think more about how we sometimes operate as human beings.

There have been times someone would say to me, “I don’t have the money to take your program.” Or, “I don’t have the money to take the classes so I can earn more money.” I think you can see where I am going with this.

Earning more money, or getting a promotion at work, or getting more customers or clients for your business can be as easy as asking yourself some questions, like:

  • What do I need to do (to learn, to understand) to earn more money?
  • Where can I get the information, book, class, YouTube video, that will show me how to make more money?
  • Who can support me, guide me, teach me, train me on how to get more clients?
  • When will I make those marketing calls I’ve been putting off?

You get the point: It gets back to asking quality questions versus making statements.

The point is I was able to create the following analogy because that lady got my mind working. I asked the question, “What analogy can I create that will make the point that an action comes before a result, not the other way around?” And I came up with the following:

When someone says they will start to invest (or save) after they make some money is like saying they will eat more healthy after they lose some weight.

And as you look at the blocks you might have, think about the questions you can ask yourself.



Are you Illiterate too?

Recently I ran across a financial literacy test put out by the FINRA Investor Education Foundation based on a survey of 25,000 people.

There were only 6 questions, which I found to be very basic. And as you would suspect I got them all correct; but then I have studied money. You can take the test yourself at

The national test results were awful: While 81% of Americans believe they have “above average” financial literacy, the test results showed that only 37% were able to pass this basic financial literacy test. (The sixth question was a bonus.) The national average was 3.16 out of 6 and in California, where I live, the result was even lower than the national average at 2.97 out of 6.

Here are more results:

  • Almost 33% of Americans don’t know how to calculate interest payments;
  • About 28% of Americans don’t understand the relationship between bond prices and falling interest rates; and
  • 66% couldn’t get at least four of six financial questions right!

There is a HUGE gap between those who think they understand money and finance and those that actually do. This is what makes the Wealth On Any Income course so valuable. As I continue to remind people; this is not taught in school; parents can’t teach what they don’t know; and even Certified Financial Planners® are not taught how to create a personal budget.

If you want to really become financially literate, learn how to create and achieve financial goals, move from a place of debt to wealth, then watch the replay of the Wealth On Any Income online program.

 You can get access here 

To your prosperity,



You too can be unlucky, or frightened

Recently I heard a story that I had to verify. It was about Ronald Wayne, who was one of the early investors in Apple computer.

Ron was an electronics industry worker and knew both Steve Jobs and Steve Wozniak. Unfortunately, he did not have faith in the new start up and sold his shares back for $800 (eight hundred dollars). He is now around 82 years old, retired in Pahrump, NV and has a net worth of about $300,000; which is the median price of a little 2 bedroom, 1 bath cabin in the woods in Manitou Springs, CO. So if he owned a house worth that much it would represent his entire net worth, if it was fully paid off with no mortgage.

So how much did Ronald Wayne give up? The price of Apple stock fluctuates daily, just as any stock would. So rather than subtracting his current net worth from the price of the Apple stock he gave up, let say for round numbers his stock would be worth about $35,000,000,000 (that is $35 billion!).

What’s my point? We all have great ideas. We often see things that appear to be a good idea that others have. Ron Wayne lacked the faith in his own ideas and the ideas of Jobs & Wozniak.

And you might wonder how much money Steve Wozniak is worth; it’s only $100 million. Why do I say only $100 million?  Because I am comparing that to Steve Jobs. However, Wozniak was a far nicer person. As an example, prior the Initial Public Offering (IPO) of Apple stock, Jobs was not willing to grant any stock options to the few people who were the earliest Apple employees, and there were only about 40 or so in 1980.

These people helped create what would soon become a billion dollar company and they would make no money from the planned IPO. So Wozniak sold some of his own shares, inexpensively, to his friends because he thought Jobs was being an (expletive body part). So with fewer shares he made less money than Jobs after the IPO. And this IPO turned out to raise more capital than Ford Motors in 1956.

Also Jobs went on to invest in Pixar Animation, and then founded NEXT after he got fired from Apple. And when he returned to Apple he got an enormous pile of additional stock. At Jobs death his stock was worth about $8 billion, or about 2% of all Apple stock.
What’s my point? Believe in yourself, and after careful deliberations, have confidence in the smart people you know. I doubt Ron Wayne consulted anyone before he sold back his stock.

To your prosperity,