planning

When It Comes To Financial Preparedness, Question Everything!

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Patrick Donohoe and co-host Chunga talk about the 2 biggest demographic issues that could sink the U.S. economy!  It sounds pretty grim, but don’t be fooled by the negative tone.  There’s an awful lot of opportunity to build wealth for both young and old Americans that choose to plan wisely.

Issue #1 – College

 https://www.usnews.com/education/best-colleges/paying-for-college/articles/2015/07/29/chart-see-20-years-of-tuition-growth-at-national-universities

        – Cost of tuition – 50k for private 25k for public
        – Debt – 1.5T – can remember when it crossed 1T not too long ago
        – Parents paying for inflated tuitions & Opportunity Cost
        – Average Salary: 7% of median income – 25% median income
Issue #2 – Baby Boomer Care
        – Average boomer has 160k saved – 600/month for 20 years
        – Health Care = 377k average cost
        – Don’t have a clue about social security – they are always making changes – changes starting as early as January – Making a shift to a lower income for the highest taxable amount

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Social Security is BROKE! Episode – 204

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In this weeks episode of The Wealth Standard, Patrick and co-host Chunga discuss some newly released information concerning Social Security.

Many are now claiming that America’s Social Security program will most likely required a goverment bail out that’s 60x greater than the 2008 emergency bank bail out!  Social Security was never meant to support people for as long as it currently does.  Americans are living much longer than they were a few decades ago.  Medical experts, are now saying that “70 is the new 50” and “50 is the new 30”.  To make matters worse, women are having fewer children!  Meaning?  Fewer people are paying into Social Security while more and more people are relying on it!

How can this problem get fixed?  Can it be fixed to begin with?  If not, how much longer can we go before a catasrophic failure of our Social Security structure?  Listen now to get Patrick and Chunga’s analysis!

Here’s an article from Simon Black that you may want to check out:

 http://www.zerohedge.com/news/2017-08-11/social-security-requires-bailout-thats-60x-greater-2008-emergency-bank-handout

 

Tune in to our weekly shows on YouTube and Tunein!  We also love to receive your feedback, thoughts, and comments on Twitter,Facebook, and the iTunes store. Or, you can email us at info@paradigmlife.net

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Email: info@paradigmlife.net
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Patrick Talks With Geoff Woods About “The One Thing”!

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Geoff Woods is an entrepreneur and Vice President of Gary Keller’s “The One Thing”.  He’s been featured in Entrepreneur.com & he’s on a mission to teach people how to live a life of focus so they can have MORE by doing LESS!

What are models and systems that you can follow whether you’re a stay at home mom, or a billionare? What’s the one thing that will make your life better? Whats the one thing you can do such that by doing it everything else will be easier or unnecessary?  Geoff Woods is here to help you figure this out!

In the number one Wall Street Journal bestseller, “The One Thing”, Gary Keller has identified that behind every successful person is their ONE Thing. No matter how success is measured, personal or professional, only the ability to dismiss distractions and concentrate on your ONE Thing stands between you and your goals. The ONE Thing is about getting extraordinary results in every situation.

 

ONE Thing stands between you and your goals. The ONE Thing is about getting extraordinary results in every situation.

Here’s a few links to check out from this episode:

Become a “One Thing” member!

www.paradigmlife.net/one

www.the1thing.com

Tune in to our weekly shows on YouTube and Tunein!  We also love to receive your feedback, thoughts, and comments on Twitter,Facebook, and the iTunes store. Or, you can email us at info@paradigmlife.net

Visit: http://paradigmlife.wpengine.com and join the newsletter to stay updated
Email: info@paradigmlife.net
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Patrick Donohoe Talks With Ted Benna, Father of the 401(k) Episode – 191

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Host Patrick Donohoe talks with Ted Benna!  Back in 1978, Mr. Benna created an employer matched, employee savings plan as an alternative to corporate pensions.  The government called it the 401(k).  Now he says he’s “created a monster” that was originally designed & intended to be something much different than it is today.

Is Ted a fan of his own creation?
Did the 401(k) kill corporate pension plans?
How common were pension plans to begin with?
Why are opinions so varied when it comes to the stability of Social Security?
What are the 3 main things Ted Benna is focused on now?
These are just a few of the questions answered in episode – 191!  Listen now!

Here’s a few links to check out from this episode:

www.401kbenna.com

www.paradigmlife.net/blog/pension-meltdown

https://www.podcat.com/podcasts/lb6edr…/tau4zi-pension-meltdown-episode-183

https://www.compassion.com

Tune in to our weekly shows onYouTube and Tunein!  We also love to receive your feedback, thoughts, and comments on Twitter,Facebook, and the iTunes store. Or, you can email us at info@paradigmlife.net

Visit: http://paradigmlife.wpengine.com and join the newsletter to stay updated
Email: info@paradigmlife.net
Call: 801-532-3660
Follow: @paradigmlife