Comments on: The Last Chance Millionaire http://www.bluntmoney.com/the-last-chance-millionaire/ Thu, 17 Dec 2009 12:51:43 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: jerry http://www.bluntmoney.com/the-last-chance-millionaire/comment-page-1/#comment-48222 jerry Tue, 03 Feb 2009 00:47:59 +0000 http://www.bluntmoney.com/the-last-chance-millionaire/#comment-48222 Read Al's remarks, but a little skeptical of financial advice from someone the can't even spell annuity; doesn't even come close ---euity Read Al’s remarks, but a little skeptical of financial advice from someone the can’t even spell annuity; doesn’t even come close —euity

]]> By: Robert http://www.bluntmoney.com/the-last-chance-millionaire/comment-page-1/#comment-28453 Robert Tue, 22 Jan 2008 21:29:57 +0000 http://www.bluntmoney.com/the-last-chance-millionaire/#comment-28453 I have googled/yahood and every article I have read attacking the approach, without fail, has misapplied the methodology. The growth created by starting out with a large amount compounding (the equity from a house) as well as the tax-free growth AND withdrawal, out-performs dripping small amounts of money into investment accounts (unless high risk return rates are assumed for the "regular" stock market comparison). The average return in 401K and qualified pensions has been about 8%. If you use this figure for comparison, apply the concept properly and run the numbers, Equity Planning will give as great or greater returns with less risk (even accounting for actual mtg. deduction rules mentioned above and in the book, taxation and insurance costs). As I said, I have not (as of yet) read a single criticism that did not misapply the methods based on the critiquers (spelling?) error and bias – Just and FYI. I have googled/yahood and every article I have read attacking the approach, without fail, has misapplied the methodology. The growth created by starting out with a large amount compounding (the equity from a house) as well as the tax-free growth AND withdrawal, out-performs dripping small amounts of money into investment accounts (unless high risk return rates are assumed for the “regular” stock market comparison). The average return in 401K and qualified pensions has been about 8%. If you use this figure for comparison, apply the concept properly and run the numbers, Equity Planning will give as great or greater returns with less risk (even accounting for actual mtg. deduction rules mentioned above and in the book, taxation and insurance costs). As I said, I have not (as of yet) read a single criticism that did not misapply the methods based on the critiquers (spelling?) error and bias – Just and FYI.

]]> By: Al http://www.bluntmoney.com/the-last-chance-millionaire/comment-page-1/#comment-22403 Al Thu, 15 Nov 2007 19:40:47 +0000 http://www.bluntmoney.com/the-last-chance-millionaire/#comment-22403 Anyone "thinking" of using this method should be forwarned. Its not all that it appears. The author has used the same argument in all three of his books. Dump everything you have and buy a euity indexed life insurance policy. I have seen several of his or his followers proposals and non have ever contained a direct comparison of what a client may have currently to their recommendations. WHY? I would hope one would Google/Yahoo Missed Fourtune 101 and research the number articles that are out there on his approach. He has paid back a number of clients their full premiums rather than face a legal authority. His biggest item is that you can take aan euity home loan and deduct the full interest (IRC 163). NOT! Also he fails to understand IRC 264a. Borrowing money to buy life insurance and you deduct the interest on the loan. Again NOT! Anyone “thinking” of using this method should be forwarned. Its not all that it appears. The author has used the same argument in all three of his books. Dump everything you have and buy a euity indexed life insurance policy. I have seen several of his or his followers proposals and non have ever contained a direct comparison of what a client may have currently to their recommendations. WHY?

I would hope one would Google/Yahoo Missed Fourtune 101 and research the number articles that are out there on his approach. He has paid back a number of clients their full premiums rather than face a legal authority.

His biggest item is that you can take aan euity home loan and deduct the full interest (IRC 163). NOT! Also he fails to understand IRC 264a. Borrowing money to buy life insurance and you deduct the interest on the loan. Again NOT!

]]> By: bluntmoney http://www.bluntmoney.com/the-last-chance-millionaire/comment-page-1/#comment-15546 bluntmoney Thu, 28 Jun 2007 13:16:15 +0000 http://www.bluntmoney.com/the-last-chance-millionaire/#comment-15546 No, actually, I did read the book. I just disagree with it and believe that paying down my mortgage IS in my best interest. I will admit that it gave me pause. However, we get zero tax deduction from our mortgage and I prefer to have a guaranteed rate of return and peace of mind over the chance of making more via other methods. Which, historically I've been rather bad at. I've been lucky not to LOSE steadily on other investments, let alone make more than than I'm paying on our mortgage on them. No, actually, I did read the book. I just disagree with it and believe that paying down my mortgage IS in my best interest. I will admit that it gave me pause. However, we get zero tax deduction from our mortgage and I prefer to have a guaranteed rate of return and peace of mind over the chance of making more via other methods. Which, historically I’ve been rather bad at. I’ve been lucky not to LOSE steadily on other investments, let alone make more than than I’m paying on our mortgage on them.

]]> By: Nathan Mathews http://www.bluntmoney.com/the-last-chance-millionaire/comment-page-1/#comment-15541 Nathan Mathews Thu, 28 Jun 2007 05:32:29 +0000 http://www.bluntmoney.com/the-last-chance-millionaire/#comment-15541 With you above stated goal . . . . and paying off our mortgage (which is my only debt), it is apparent that you haven't read the book you received, The Last Chance Millionaire. You will realize that paying down your mortgage is not in your best interest. With you above stated goal . . . . and paying off our mortgage (which is my only debt), it is apparent that you haven’t read the book you received, The Last Chance Millionaire. You will realize that paying down your mortgage is not in your best interest.

]]> By: Misti http://www.bluntmoney.com/the-last-chance-millionaire/comment-page-1/#comment-15219 Misti Mon, 18 Jun 2007 22:14:56 +0000 http://www.bluntmoney.com/the-last-chance-millionaire/#comment-15219 Sounds like a great book! Sounds like a great book!

]]> By: poorppp http://www.bluntmoney.com/the-last-chance-millionaire/comment-page-1/#comment-15103 poorppp Sat, 16 Jun 2007 03:11:57 +0000 http://www.bluntmoney.com/the-last-chance-millionaire/#comment-15103 This book sounds interesting! This book sounds interesting!

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