News & Story Ideas
From her latest book, Rescue Your Retirement, Pamela Yellen explains the five wealth-killing traps inherent in 401(k)s, IRAs and Roth Plans, and how people can avoid them
Even though the “experts” insisted there was no place to hide from the Great Recession, people who used the Bank On Yourself savings method saw their money continue to grow right through the economic crash. Pamela explains how more than 500,000 Americans opted out of financial risk and stress to embrace lifetime financial security and self-sufficiency instead.
Pamela explains why the conventional financial wisdom on investing is flawed, and why investors get shortchanged even during bull markets. She also shows how it's possible to know the guaranteed value of your retirement savings on the day you plan to tap into them, and at any point along the way.
Pamela discusses hidden pitfalls of 401(k) and IRA accounts, why the government wants more control over these savings plans, and how Americans have been getting suckered into believing that government-approved retirement plans are the best way to save for retirement. Even the man credited as the "father of the 401(k)" has disowned it.
Pamela reveals a strategy that lets almost anyone bypass banks, credit cards and finance companies to become their own source of financing. This method even beats directly paying cash and allows you to get access to money when you need it with no questions asked, while your money continues to grow as though you never touched it.
The average Baby Boomer 55 and older has less than $100,000 in savings and investments. The typical pre-retiree’s 401(k) and IRA will provide only $575/month, according to the Boston College Center for Retirement Research. Pamela shares how it's not too late for boomers to boost their retirement savings — without the risk or volatility of traditional investments.
A recent study found that even with the run-up in the stock market and housing prices, half of all American households are at significant risk of not being able to maintain their current standard of living in retirement. Pamela explains how you can avoid becoming one of these statistics by using a wealth-building method that has been successful for over 160 years.
Pamela's book, The Bank On Yourself Revolution: Fire Your Banker, Bypass Wall Street and Take Control of Your Own Financial Future, shows how you can join the more than 500,000 Americans who have bypassed banks and Wall Street to build financial security and self-sufficiency.
Some financial "experts" say whole life insurance is too conservative a way to effectively build retirement savings, but they are not familiar with the kind of specially designed, dividend-paying whole life policies Pamela advocates. Pamela explains why these policies grow up to 40 times faster than conventional whole life, making this savings method superior to risk-prone investing.
With its rare combination of guarantees, safety, liquidity, tax advantages and control, the Bank On Yourself strategy “is so safe and so consistent that it’s actually really pretty boring,” Pamela says. She explains how more Americans are opting out of the “excitement” of risky investing in favor of a method that builds wealth consistently — and puts them in the driver's seat to reach financial goals.
Pamela shares the “10-10-10” savings formula and other sound money-management principles parents can teach their kids to help them become self-sufficient adults. She also discusses strategies for paying for your child’s college education that won’t put the family’s financial future in jeopardy.
The key to not falling into debt over the holidays is to be prepared. Pamela shares her five steps to avoid overspending and holiday stress while still experiencing the joy of the season.
Pamela illustrates how business owners and professionals can free themselves from frustrating dependence on financial institutions, become their own source of financing and recapture the interest they pay for major purchases.
Financial stress causes problems in 70 percent of relationships. One-third of couples report keeping spending secrets from their partner. Pamela shares tips and strategies for increasing financial intimacy and harmony with your partner.
Pamela's mission is to educate the public about proven ways to achieve financial self-reliance without the risk and volatility of traditional investing methods. She shares time-tested secrets of self-reliance and core concepts of financial literacy to help people become savvy savers.
Standard retirement vehicles such as 401(k)s and IRAs and college savings plans sound like good ideas. But not only are they risky and based on markets you can’t control, they also tie up your money and restrict you from using it when the need arises. Pamela explains how to get your money “out of jail” while still growing it safely and predictably.
Think the guy managing your portfolio or retirement fund is brilliant and can outwit the market? Think again. Pamela shares the horrifying stats about how poorly individual investors perform as well as those who do it professionally. Plus she reveals the “hidden fees” and tax-time bombs that are decimating your portfolio and retirement funds.
Only a fraction of the nation’s 28 million small business owners are prepared for retirement, according to a startling report from BMO Wealth Management. Pamela explains how most business owners fit into two categories when it comes to planning for retirement, how they both face risks of not having enough money to retire comfortably, and how they can create a "Plan B" to overcome these challenges.
Most business owners and professionals are risk takers to some degree. "If you had little or no tolerance for risk, you'd be working for somebody else,” Pamela says. “But take minimal to no risk with your money that's outside of your business. That's your ‘safe money' or Plan B money." She details three surprisingly simple keys to finishing rich.
A top financial peril facing business owners and other Americans is “longevity risk” — underestimating how long you will live. Pamela details seven risks facing people planning for retirement today and the one savings strategy that beats them all.