Broke, Black & Christian/Conscious

In my "Financial FREEdom" business, where I help my clients to become financially free & to move towards wealth I've come across numerous clients who have described themselves as being "Christian" or "Conscious" and such and all have had one thing in common. They were broke. I often refer them to a number of books as well as providing my services to them. A colleague shared this book with me recently and now I'm sharing it with you. Meet Michelle Singletary, author of 'Power To Prosper' (check her photo below.......Eye candy....):

If you are having some money problems, consider giving me a call (757-248-3820) for a 'check-up' and or consider doing the 'fast that she prescribes in her new book 'Power To Prosper: 21 Days To Financial Freedom' (In Hampton Roads Virginia the book may be purchased at Positive Vibes Bookstore in Virginia Beach (757-523-1399) or you may also order it from Positive Vibes and they will ship it directly to you ! Be prosperous and remain informed and conscious !

Brother Seko VArner - Financial FREEdom !
http://www.happilyeverafter.be/sekovarner.html

This book is well suited for those of us who consider ourselves/themselves to be Christian as the advice and guidance is seasoned with Biblical quotes and references. Here is what The Washington Post said about the book:
"Michelle Singletary teaches you practical ways to financial freedom by putting you on a 21-day financial fast, where you are prohibited from using credit cards and cannot buy anything unless it is a basic need for survival."

Author Guides You To Financial Freedom: MyFoxDC.com

Singletary writes the nationally syndicated personal finance column, "The Color of Money," which appears in The Post on Thursday and Sunday. Her award-winning column is also carried in more than 120 newspapers. In her spare time, Singletary is the director of a ministry she founded at her church, in which women and men volunteer to mentor others who are having financial challenges.
For more info' on Michelle Singletary visit:
http://www.michellesingletary.com/


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Black Improvement Economics is a service of The Imani Foundation http://www.imanifoundation.com/
These posts provide information that may aid financial improvement. The information on this site is provided as opinion and should not be construed as professional legal advice, nor professional financial advice, nor professional tax advice. The end reader is advised to seek professional assitance to address one's particular situation. The posts on this site may be third party information and may not be copyrightwritten by the poster of the information.

Secrets of the Silver Market

This is
G&G Associates Tax & Financial Consulting
e-Newsletter

Secrets of the Silver Market

Karibu (Welcome) G&G Readers,

I know, most Americans think I'm absolutely crazy. But I believe we are facing a major monetary crisis. And the funny thing is, everything I've said would happen is happening. Gold is up from $700 in December 2008 to around $1,400 per ounce. Silver has more than doubled too.

You simply can't create money at the rate we have, and service this much debt over the long term. That's the bad news…

The good news in all of this is we have an easy and predictable way to make a heck of a lot of money.

Yes, you should own some gold and silver (it's definitely not too late)... but I also believe you should buy one silver stock that will prove incredibly lucrative over the next few years.

It has soared more than 500% in the past five years... while most stocks have gotten absolutely crushed.

This company is unique. It doesn't really have any overhead or products for sale... and has fewer than 25 full-time employees.

In short, what this silver company does is provide an incredible service to mining companies. No other company on Earth is like this one. It has ZERO competition.
Before I give you all of the details on this unique business... let me back up a bit and explain why I think silver is such an important asset to own...

Why Silver Now

Lots of people realize the government propped up the banks with its repeated bailouts. But most folks don't understand the real way the government saved the banks. It's not the shares the feds bought (and paid too much for). It's the whole system of paper money.
The government is deliberately kept short-term interest rates super low, so the banks' funding costs almost disappeared. Then, by running a huge budget deficit and spending record amounts of money on domestic programs, the government insured inflation (and longer-term rates) remained high. The banks made money on the spread between short-term rates and long-term rates.

And just to make sure nothing goes wrong, the Fed is promising to buy trillions (yes, that's trillion) worth of mortgages, many of which come directly from troubled banks like Citigroup. In short, there's no way these banks can lose.

But of course, there is a real cost. The value of our currency goes down with every new dollar the Fed prints and with every dollar of new deficit spending. But the politicians can all pretend inflation doesn't exist. When it shows up in our economy, they can lay the blame with "speculators" and oil companies...

The government can manipulate the dollar like this because it's not backed by gold. President Nixon "temporarily" cut the tie between the dollar and gold in August 1971. At the time, Nixon promised the dollar won't be devalued – "your dollar will be worth just as much tomorrow as today," he said ...

At the time (1971), $35 would buy an ounce of gold. Today, it takes around $1,400. That's a 97.5% decline in purchasing power of your dollar. It's fascinating how many people believe this won't happen again... despite the fact that we've got runaway deficits, we're trying to fight two overseas wars, we've passed the largest new entitlement program in history... and we've propped up every major bank in the United States. I'm not surprised gold is trading at $1,400. I'm surprised it's not trading for more than $5,000.

Put simply, if you double the number of dollars in circulation, it costs twice as many of them to buy the same amount of silver or gold. So wealthy investors buy precious metals to hedge against inflation and general chaos in the markets.

Before 1900, the U.S. dollar was pegged to both gold and silver. Back then, one ounce of gold was worth $20.65, and an ounce of silver was worth $1.29. And up until 1971, the U.S. dollar was pegged to gold. Silver fell by the wayside because it's less valuable and takes up far more space.

The U.S. central bank still backs about 78% of our currency with gold, so gold is still treated as money. Silver, on the other hand, is usually only used for jewelry and industrial purposes.

Back when gold and silver were both used as money, gold was about 16 times more expensive than silver. As I write, gold trades for about $1,400 an ounce and silver trades for about $30 an ounce... a ratio of roughly 50:1.

And as I explained, inflation is about to explode... and when it does, precious metals soar.

Between 1973 and 1980, a period of blistering inflation, the price of gold went up 710%... while silver soared 1,481%. History has shown as inflation increases, more people will turn to silver as a store of wealth. Silver's cheaper than gold, and just as safe. Once this happens, the gold/silver ratio should revert back to its mean of 16. If silver trades at one-sixteenth the price of gold, it would cost $87.50 an ounce...

Safe Silver: A Far Better Business

We could buy physical silver... But to capture greater gains as panicked investors rush to bullion, you could make a steep profit owning silver companies. Silver companies follow the movement of the underlying metal while also providing leverage. If we own silver bullion, we only make the price increase of silver. If we own a silver company, we can earn much, much more.

To find out what Silver investment I'm talking about, sign up today to become a G&G Investment Society (GGIS) today.

A one-year subscription costs $99. Your subscription includes:

#1. 12 Monthly issues of investment reports sent to your e-mail, called: G&G Investment Society (GGIS) portfolio. The second week of each month, I'll send you my monthly GGIS portfolio. I'll keep you up to date on exactly what's going on regarding the current and future financial crisis, and I'll show you some unusual and incredible ways to make money now and as it all begins to unfold.

#2. Research Report: The 4 Investment Assets You Do NOT Have to Report to the U.S. Government. Desperate governments do incredibly desperate things, so you should make sure you own at least one or two of the valuable assets that you do not have to report to the government. This is completely legal, and vital to getting rich in the coming currency crisis.

#3. Research Report: Mining Royalties. How to claim your share of the World's most profitable Gold Mines. Sit back and receive payments from Royalties as the price of Precious Metals continues to climb as the Fed and Governments throughout the world continue to print fiat money and not control their deficit spending.

#4. Research Report: Secrets of the Silver Market. I expect silver to soar at least 400% to 500% above today's price, over the next few years. This thorough report shows you the best ways to buy, hold, and store silver. I'll show you how to get really cheap silver, straight from the U.S. government… and even a way to store it cheaply in a private Swiss vault, if you're interested.

#5. Research Report: How to Buy Government Backed Silver for $1.41

#6. Research Report: Urgent Retirement Report. Washington has crippled our country with debt. And now they're making plans to fill that black hole by nationalizing your retirement savings! Your 401(k), TSP, your IRA. Maybe even your money market and bank accounts. They want to grab it all now. And dish it back to you – a little at a time – when you retire. Revealed inside this report… The most insidious plot the government has ever hatched – to nationalize your retirement and STEAL YOUR WEALTH outright.

#7. The G&G e-Newsletter. Also, twice a week, I'll send you the G&G e-Newsletter giving you my weekly email that details what I think are the most important financial events of the moment.

#8. Subscribers-only access. You'll also get subscribers-only access to my investment research archives. Right now, there are several other investments I recommend you consider buying immediately.

I hope you agree that's fair. And I hope you take advantage of these opportunities right away. You will put yourselves among a very small group of Americans who actually come out ahead after this currency crisis unfolds.

To become a member of the G&G Investment Society newsletter subscription, send an e-mail to GGIS@gngassoc.com and/or visit our website at www.gngassociates.net and click on the "Products & Services" link and we'll get you signed up right away.

DON'T WAIT ANOTHER DAY!

- 1 year subscription - $99
- 2 year subscription - $189
- Lifetime subscription - $399

** If you sign up for a 2 year of Lifetime subscription, you'll get a free one hour Tax & Financial consultation (a $200 value).

If you need a one-on-one consultation to evaluate your financial situation, contact me to setup an appointment and get 2011 started off on a good note.

Until the next time,

Ankh Uja Snb (Life, Health, Strength),

Asar Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

G&G Associates & G&G Travel are on Facebook, join our fan page.

"Any fool can make something complex, but it takes a genius to make something simple"
Woodie Guthries

P.S. If you're not a GGIS Paid Subscriber reader yet, it's not a bad way to start the year. Currently, our GGIS portfolio is packed with great plays to kick-start your portfolio for 2011.

P.S #2 If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on facebook.

LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

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The XODUS Restore Card Discount Purchase Program: A New Way of Doing Business in Our Community (Please Share!)

The New XODUS Restore Card Program A Positive Economic Restoration Program for the Our Community             Dear Hampton Roads Community,   Looking for a positive economic spending solution during this recession? Diversity Restoration Solutions, Inc. (DRS) would like to introduce you to our new XODUS Restore Card program.   Patrons of the XODUS Restore Card program will receive discounts on services or products from participating merchants and companies who are in our XODUS merchant network program.  The merchant network is being developed here locally in Hampton Roads and across Virginia , as well as the inaugural states of Maryland , Delaware , New York , Ohio and Washington DC .  The merchant network includes both local businesses in each state and nationwide businesses (See attached list of current network merchants listed by state).    Our future goal is to eventually expand the card program across the nation and to international locations that support our efforts.   Partial proceeds from the XODUS Restore Card purchase will go towards building the African Diaspora International Trade Hub and Cultural Center in Suffolk , Virginia , the new epicenter of excellence for trade and cultural relationships with modern Africa and the African Diaspora.  The Trade Hub and Cultural Center will open up doors for U.S.-Africa trade and increase opportunities for those in the United States and African Diaspora looking towards Africa as an emerging global economy.       Here are responses to some questions that will help you better understand our new discount purchase program:     How is the XODUS Restore Card program different from other discount purchase programs?   The XODUS Restore Card program works the same as other discount purchase programs (i.e., Entertainment® Book) in which the goal is to save money for people on everyday purchases, especially in tough economic times.  However, our concept and mission for the XODUS Restore Card is unique in that some our proceeds will go to help small and medium size businesses in the U.S.  build trade with Africa , the business world's next financial and economic frontier.   At the very least, the card program helps to provide financial restoration during this historic downturn in the U.S.  economy to participating businesses within local communities.   What is the cost of the XODUS Restore Card?   To purchase a card, you pay just $25.00 per card to receive discounts or promotions from participating merchants.  No annual renewal fees are required.  However, a replacement fee may apply for lost or stolen cards.  Card discounts and promotions are subject to the discretion of each merchant and should be verified prior to your purchasing experience.  Cards are purchased on an individual basis.     How do I purchase a XODUS Restore Card?   To purchase a card, you can go online to http://www.diversityrestoration.com/xodusrestorecard.html  and use our secure PayPal purchase site.  Cards can also be purchased by mailing your check or money order payment to Diversity Restoration Solutions, Inc., P.O. Box 5277 , Suffolk , VA 23435 or by calling (757) 484-0906. An up-to-date listing of participating merchants is also available online at our website.     How do I share information about the XODUS Restore Card program with others in my family, community or church group or social organization?    DRS would be happy to brief your groups on the benefits of our new card program and how they can purchase cards for themselves.  Contact us directly for more details.  You can also forward this email to your friends and family who might be interested in purchasing a card.       Can I sign up my business to join your merchant network program or recommend you contact a business in my community that might be interested?   YES!!  We are ALWAYS looking for new merchants or businesses, big or small, local, regional or national chains to join the XODUS Restore Card program and receive benefits from increased traffic while providing you with discounts on everyday purchases.  Your recommendations are very valuable to us because you know which businesses people patronize in your community, which in turn helps to make our program valuable for cardholders and merchants.  Please send all merchant recommendations to Eric Sheppard, DRS President, at info@diversityrestoration.com.      If you have any questions or comments regarding the XODUS Restore Card program, please contact Eric Sheppard, at (757) 484-0906.    Happy purchasing!     Purchase an XODUS Restore Card between January 1 & January 31 and enter to win a FREE card for a family member or friend.  Ask us for more details!!!                 ----------------------------------------------------  Lisa R. Sheppard Diversity Restoration Solutions, Inc. P.O. Box 5277 Suffolk, VA 23435  Ph: (757) 484-0906 lsheppard@diversityrestoration.com   ~ Purchase your new XODUS Restore Card today! .... save money on your everyday purchases while rebuilding our community's economic restoration.  For more information visit http://www.diversityrestoration.com/.

Kemet (Egypt) Tour - Summer 2011

Kemet (Egypt) Tour - Summer 2011
July 10-24, 2011

Payment Plans Available

Hotep (Peace and Blessings) All,

When I returned from my trip to Kemet (Egypt) last year I was shocked that I saw very few Black tourist learning about OUR-STORY. Of the thousands of people in Kemet on the tours, we only saw "FOUR" that's right "FOUR" other black people. Now they weren't learning the truth, but they did see the greatness of what Black people did in the Motherland.

If you haven't been to AfRAka...when are you going? I'm putting it out there right now, I'm trying to get 25-50 Black people interested in learning OUR-STORY to join me on the KEMET NU – Kemet(Egypt)/ Cairo to Nubia 15 day tour on July 10-24,2011.

Why Kemet NU tour and not the tour I went on? It's simple, if you want the truth taught by an AfRAkan Griot Historian you want to go on Brother Ashra Kwesi's tour. If you want distorted, imprecise, twisted information to leave you confused and lost, then you'd go on the "Lookie Lou" tour I went on earlier this year lead by several Arab supposed Egyptologist.

I'm not being biased at all…if I had not been educating myself about AfRAka before going, I would have been lost and confused. When I questioned the lies being told to our group, the tour guide said, "Yes, I was correct with my facts", but then said, "But, this is what we teach on the tour." They know the truth but don't teach it to the millions that visit every year. Why? Because the truth will set "US" free and they can't have that.

Don't believe me, check out this video I took while we were visiting the Pyramids as I question our tour guide on why they were changing the names of the 'Great Pyramids', to Greek names instead of calling them by their AfRAkan given names: http://www.youtube.com/watch?v=NDtUb0V90z0

Ashra Kwesi is a historian (Griot) and lecturer on ancient African history and religion. He will take you and show you firsthand information from the ancient temples, tombs and papyrus papers recorded when African people were teachers of the world. Brother Kwesi brings a wealth of information and a powerful delivery, based on 29 years of study and tour experience in the African Nile Valley. He spent 14 of those years as an assistant to the noted Kemetologist, Dr. Yosef Ben Jochannan.

Brother Kwesi has performed extensive historical research on location at the Nile Valley University, the temples and tombs of Egypt, as well as studied in Ethiopia, Sudan, Kenya and Ghana. Additionally, he has documented information on African Nile Valley history at the Louvre Museum in Paris, France, the British Museum in London, England and the Metropolitan Museum in New York. Most recently he presented his findings on ancient Kush at Addis Ababa University in Ethiopia, the former palace of Emperor Haile Selassie.

So, what are you waiting on Black people? Let's go to back "AfRAka" and see where it ALL STARTED AND SEE THE TRUTH WITH YOUR OWN EYES! WITHOUT BLACK HISTORY, THERE WOULD BE NO HISTORY!

If you are going to go on the tour please let me know or you can contact Kemet Nu directly and say you are with the G&G Travel group. You can pay on an installment plan so start paying now to keep your payments low. The itinerary for the trip is now available. Contact G&G Travel for payment arrangement details.

Visit www.gngassociates.net, click on the "G&G Travel" link for more details. Without a doubt…please pass this information on to every person you know.

Click on the link for the itinerary and brochure:
http://www.gngassoc.com/GNGTravel/Kemet_2011_Brochure.pdf

Click on link for prior tour videos:
http://www.kemetnu.com/view_videos.htm

***Remember, when you sign up for the trip mention you are with the G&G Travel group***

Ankh Uja Snb (Life, Strength & Health),
Asar Gary

"The further back we look, the further forward we'll be able to see."
Marcus Garvey

Additional FYI links on AfRAka:

http://www.youtube.com/watch?v=bN1KYkeBYTk&feature=fvw <http://www.youtube.com/watch?v=bN1KYkeBYTk&feature=fvw>

http://www.youtube.com/watch?v=XYXE3tnXVKo&NR=1 <http://www.youtube.com/watch?v=XYXE3tnXVKo&NR=1>

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Why Congress will not bail out YOUR bank!

This is
G&G Associates Tax & Financial Consulting
e-Newsletter

Why Congress will not bail out YOUR bank!

Imhotep (Wisdom To You) G&G Readers,

Not long ago, Citigroup, Bank of America, AIG and dozens of the world's largest financial institutions were on the brink of failure.

Washington rushed to the rescue with trillions of dollars in loans and guarantees. London, Berlin and Brussels did the same.

The crisis subsided. The market rallied. And Wall Street eventually breathed a great sigh of relief.

But now, as 2010 has come to a close ...

A New, Broader Kind of Crisis Is Looming

Now …

• We not only have a debt crisis among corporations, but we also have a debt crisis for entire national governments — Dublin, Lisbon, Madrid, and even Washington.

• The threat of big losses is not merely to those holding individual stocks or bonds, but to anyone who has assets denominated in the U.S. dollar.

• The political will to bail out banks is not only gone, the new Congress is actually inclined to reverse prior bailouts.

In sum, the old theory that giants like Citigroup, Bank of America or AIG are "too big to fail" is dead! They are actually too big to SAVE!

Beyond the standard, oft-flawed safety nets — such as the FDIC for the banks and the state "guarantee" associations for insurers — every institution you trust with your money is largely on its own.

Fortunately, some have the wherewithal to withstand the toughest of times.
But many do not.

So the big question now is ...

-----------------------------------
Internal Sponsorship

With the falling dollar and the imminent explosion in the U.S. Treasury and Municipal bond market, you need to stay on top of your game and manage your "OWN Finances."

Become a GGIS subscriber now and you'll be sure that we make sure you stay on top of your Tax and Financial Future to make sure your BUSINESS … AT HOME is protected. Remember…most people look after their bosses business, but fail to look after their own business at home.

I'll keep you informed on the "REAL DEAL" in our economy so you can protect your wealth. So....Sign up today!

To become a member of the G&G Investment Society newsletter subscription, send an e-mail to GGIS@gngassoc.com and/or visit our website at www.gngassociates.net and click on the "Products & Services" link and we'll get you signed up right away.

DON'T WAIT ANOTHER DAY!
- 1 year subscription - $99
- 2 year subscription - $189
- Lifetime subscription - $399

** If you sign up for a 2 year of Lifetime subscription, you'll get a free one hour Tax & Financial consultation (a $200 value).

-----------------------------------

How can YOU know the difference?

How can you know if your bank or insurance company has what it takes to survive the worst of shocks?

How can you know if it's likely to fail even in normal times?

You need to have someone on your side who's trying to help you cut through the shigidy of lies, deceit and deception in order to:

• Help you make sure that you never have to lose another minute's sleep worrying about your bank CDs, money market accounts and checking accounts ...

• Show you how to safeguard your life insurance, annuities and health insurance, plus ...

• Evaluate the safety and potential of your stocks, ETFs and mutual funds.

So, sign up for GGIS ASAP, and …

If you need a one-on-one consultation to evaluate your financial situation, contact me to setup an appointment and get 2011 started off on a good note.

Until the next time,

Ankh Uja Snb (Life, Health, Strength),

Asar Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

G&G Associates & G&G Travel are on Facebook, join our fan page.

"Any fool can make something complex, but it takes a genius to make something simple"
Woodie Guthries

P.S. If you're not a GGIS Paid Subscriber reader yet, it's not a bad way to start the year. Currently, our GGIS portfolio is packed with great plays to kick-start your portfolio for 2011.

P.S #2 If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on facebook.

LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

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[Black Improvement Economics] $ Media Wants to Brainwash & Bankrupt You

This is the                       G&G Associates Tax & Financial Consulting                                    e-Newsletter               The Financial Media Wants to Brainwash and Bankrupt You Imhotep (Wisdom To You) G&G Readers, The financial news media is conspiring to blow up your brokerage account and flush your retirement savings down Ben Bernanke's new commode. I'm not saying the editors of top financial newspapers and magazines sat down together and hashed out a plan to brainwash you and bankrupt you. I really don't think they did that. It only looks like they did it… The conspirator I'd like to focus on today is Barron's, one of the most well-respected publications in the industry. By the look of it, you'd think it made a bet that it could nail the best "cover story sell signal"… ----------------------------------- Internal Sponsorship With the falling dollar and the explosion in gold, silver, oil and other natural resource prices, you need to stay on top of your game and manage your "OWN Finances." Become a GGIS subscriber now and you'll be sure that we make sure you stay on top of your Tax and Financial Future to make sure your BUSINESS … AT HOME is protected.  Remember…most people look after their bosses business, but fail to look after their own business at home. Take advantage of our 2010 discount lifetime subscription offer if you are not yet a member of the GGIS paid newsletter service and you'll be on your way to knowing how to protect your portfolio...at least what's left of it.  I'll keep you informed on the "REAL DEAL" in our economy so you can protect your wealth. So....Sign up today before the price increases in 2011. To become a member of the G&G Investment Society newsletter subscription, send an e-mail to GGIS@gngassoc.com and/or visit our website at www.gngassociates.net and click on the "Products & Services" link and we'll get you signed up right away. DON'T WAIT ANOTHER DAY! - 1 year subscription - $49       (2011 Price Increase -- $99) - 2 year subscription - $89       (2011 Price Increase -- $189) - Lifetime subscription - $199    (2011 Price Increase -- $399) ----------------------------------- The cover story sell signal is one of the best contrarian indicators around. Whenever a trend is deeply ingrained enough in the public mind to sell magazines off the newsstand, you know it's about to end. It's most recent issue of Barron's, you'll find the most irresponsibly ostrich-like, head-in-sand attitude on the cover of the November 29 issue. It shows a retiree lounging with a cocktail next to a waterfall of money. The headline promises, "How to keep the income flowing." The article inside is called "Going with the flow." That doesn't sound very contrarian to me… It's essentially an invitation to throw caution to the wind and take on more overpriced risk. And the Barron's story is recommending a whole slew of risky investments… Among the high-risk offerings touted by Barron's: emerging market debt, foreign government bonds, high-yield corporate bonds, Build America Bonds (subsidies for municipal bond issuers), senior bank loans, MLPs, dividend-paying stocks (well, that one's a pretty good idea, actually), variable annuities, and the one that's been going straight to hell faster than the rest of them lately, municipal bonds. It's as though someone at Barron's sat down and decided to make a list of the riskiest stuff you could buy right now. Income – especially fixed income – is clearly a bubble. That Barron's is trying to sell this list of fixed-income and near-fixed-income investments as a retirement-worthy portfolio seems more irresponsible than usual. It even tells retirees to take more risk, saying, "Generating a rich stream of post-retirement income these days requires investments that retirees once might have shunned." Adding particular insult to injury, a smaller headline on the left-hand margin of Barron's latest cover says, "REITs have the right stuff." I guess as long as you ignore the loud crashing sound coming from the commercial mortgage-backed securities (CMBS) market, the equity in commercial real estate looks positively peachy. In particular, the delinquency rates on mortgage-backed securities secured by apartment buildings spiked more than 100 basis points in November, to 15.8%. That's from the same report by CMBS tracker Trepp that says the overall CMBS delinquency rate rose to 8.93%, up 35 basis points from October. The loans underlying U.S. commercial real estate are blowing up at higher rates. But Barron's thinks the equity slice, the riskiest piece of the pie, is somehow appropriate for retirees. If the bond holders aren't getting paid, the equity holders can throw their tickets in the trash, have a smoke and a shot tequila, and resign themselves to getting crushed. And like every other kind of yield, REIT yields have compressed. The U.S. Real Estate Index dividend yield has fallen from 11.19% in February 2009 to less than 4.6% today. For taking on all kinds of risk, you're paid just a little more than 30-year Treasurys. That's a bad deal. And you should turn up your nose. Barron's and the rest of the financial news industry is a shameless hype machine, by all appearances in the direct employ of Wall Street, the Fed, and anybody who's already got a ton of money. It's forgotten how to say, "Inflation is bad for business, and what's bad for business is bad for stocks. Sell fairly valued stocks. Hold cash. Buy only when valuations are dirt cheap and business quality is stellar." See, that wasn't hard. Sure, subscriptions to my GGIS newsletter won't have people pulling out their credit card with that kind of advice. But at least we'll all sleep soundly, knowing we understand exactly what the heck is going on. If you need a one-on-one consultation, feel free to contact me to setup an appointment. Until the next time, Ankh Uja Snb (Life, Health, Strength), Asar Gary Gray Tax & Financial Consultant, RFC G&G Associates 757-251-0174 office 866-361-3872 toll free fax www.gngassociates.net G&G Associates & G&G Travel are on Facebook, join our fan page. "Any fool can make something complex, but it takes a genius to make something simple"           Woodie Guthries P.S. If you're not a GGIS Paid Subscriber reader yet, it's not a bad way to start the year. The recent dollar rally has actually given everyone some new opportunities to invest on the cheap. And currently, our GGIS portfolio is packed with great plays to kick-start your "anti-dollar" portfolio for 2010. P.S #2 If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin.  Let us know where you want to go and we'll do our best to find you the best deal your money can buy.  Become a Fan of G&G Travel on facebook. LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

Quotes of the Week -- Must Read

This is
G&G Associates Tax & Financial Consulting
e-Newsletter

Alafia(Peace & Blessings) G&G Readers,

Just wanted to send you some tidbits from other sources to maybe validate some of the things I've been warning you about for years. If you haven't made any moves yet, please do so or you might get caught with your pants down.

I could add some more analogiies here, but I'll leave it alone and go on with the rest of my night.

IF YOU WANT TO SETUP A ONE-ON-ONE CONSULTATION, FEEL FREE TO CONTACT ME.

Asante (thanks)

Asar Gary Gray
G&G Associates, RFC
Tax & Financial Consulting Services
www.gngassociates.net
757-251-0174

--------------------------

QUOTES OF THE WEEK:

From Richard Russell, editor of Dow Theory Letters, in remarks posted on his website on December 14th:

''China is using its yuan as its currency of choice in transactions with its hundreds of trading partners. In a slick way, China is displacing the dollar as its currency of trade. There is no doubt that, in its own good time, China is preparing to make the yuan convertible. The Russell prediction -- with China now the world's biggest producer and accumulator of gold, it's only a matter of time before the Yuan becomes the world's preferred currency rather than the dollar or the euro. I think the Chinese are going to part-back the yuan with gold. If you are an overseas investor, which would you rather have, a Federal Reserve Note backed by nothing and issued by a nation that is choking on debt, or a yuan part-backed by gold and produced by a nation with a the plane's largest positive trade balance?

Remember the 'Golden Rule,' ...... 'Who has the gold, makes the rules.' And China is in a headlong drive to produce and accumulate gold.

Today, both the Wall Street Journal and the Financial Times included feature stories on China's spreading use of the yuan with its trading partners while cutting out the dollar. This is most definitely a game-changer, and it foreshadows the ultimate fall of the dollar. All this is not lost on the price of gold, which has again pushed into the area above 1400.

Ultimately, I see the whole situation accelerating, leading to a worldwide panic out of dollars. This will correspond with the third speculative phase of the great gold bull market. Gold and silver will soar higher than anyone thinks possible. And remember, much of the world understands silver and gold and they are already into these metals. In the meantime, most Americans are totally oblivious of what's going on with the dollar, with gold, and with silver, and, I might add, with China.''

. . . and from Pham-Duy Nguyen on Bloomberg on December 15th:

''The U.S. Mint may produce American Eagle palladium coins if there is sufficient evidence that investors will buy them.

The mint was authorized to produce the 1-ounce coins 'if an independent marketing study demonstrates adequate demand to ensure that the coins could be minted and issued at no net cost to taxpayers,' according to the American Eagle Palladium Bullion Coin Act of 2010 that President Barack Obama signed into law yesterday.

Demand for precious-metal coins has soared this year as investors sought a haven from turmoil in global financial markets. The U.S. Mint currently sells 1-ounce American Eagle gold, silver and platinum coins. Last month, the agency sold a record 4,260,000 ounces of silver coins.

The price of palladium, used in jewelry and in automobile pollution-control devices, has gained more than 80 percent this year and touched a nine-year high of $780 an ounce on the New York Mercantile Exchange on Dec. 3.''

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Is America Becoming a Communist Nation?

This is
G&G Associates Tax & Financial Consulting
e-Newsletter

Dear G&G Readers,

This is an interesting article I came across. It's one of those you read that make you go hmmm...but, it makes so much sense. Enjoy...

-----------------

Is America Becoming a Communist Nation?
By Braden Copeland

As I showed you yesterday, the Greeks may be the most notorious of the world's profligate nations… but they are not the real problem.

The real problem is much larger and more complex.

The root of the problem the world is facing right now isn't really governments… or banks. The real problem is simply a very bad idea – the idea that the State ought to sit in the center of society. Let me explain…

The last 100 years (since 1914) saw not only the end of the classic gold standard, but also the fantastic ascendancy of the nation-state.

These two trends are inherently and dangerously related.

Until World War I, the central government of the United States, for example, played a small role in the lives of its citizens. Its powers were strictly limited, as were its revenues. It was specifically barred from taxing citizens directly. It was a humble government that interacted with the individual states in the union, but didn't interact much with individual citizens.

The first signs of change came after the Civil War. "Progressive" ideas began to emerge. Most of these ideas came from Germany, from philosophers like Karl Marx and Friedrich Engels. The core of these ideas was that the State itself was superior to its citizens. Therefore, the argument went, society ought to be organized to better accomplish the goals of the State.

Today, most Americans have no idea that the foundations of our modern State are based – nearly verbatim – on the demands of Karl Marx's Communist Manifesto.

In 1848, Marx threatened to organize a worker's revolution unless European governments:

1. Abolished property rights and applied all rents towards public purposes.

[Modern corollary: Don't pay your property taxes, lose your house. So who really owns your house?]

2. Levied a heavy, progressive income tax to equalize wages.

[Modern corollary: Combined federal and state marginal income and payroll taxes approach (or surpass) 50% in many U.S. states.]

3. Abolished all rights of inheritance.

[Modern corollary: The estate tax.]

4. Confiscated the property of all emigrants.

[Modern corollary: The 2008 "Hero's Act," which forces people leaving the U.S. to pay the equivalent of their estate taxes on the global assets before they turn in their passports.]

5. Centralized access to credit in the hands of the State by means of a national bank and an exclusive monopoly.

[Modern corollary: Fannie Mae and Freddie Mac, which make more than 90% of all of the mortgages in the U.S. and have dominated the market for mortgages for decades.]

6. Centralized the means of communication and transport in the hands of the State.

[Modern corollary: AT&T was a legal monopoly for decades. Amtrak is a ward of the states. The government owns all the roads. And the State controls all air traffic.]

7. Provided free education for all children in public schools.

[Note the emphasis on public schools. Paying for education isn't enough. What counts is indoctrinating the kids in glorifying the State.]

8. Produced a common agricultural policy to maximize the productivity of the land.

[Modern corollary: Massive ethanol and agricultural subsidies.]

Most people in democracies like these ideas for one simple reason: They hold the allure of getting something for nothing. They are the siren song of living at the expense of your neighbor.

These ideas became extremely popular over the last 100 years, all around the world. As a result, as democracy spread, so did these ideas. Politicians of each party and persuasion throughout the Western world quickly adopted them as their own (and never mentioned Marx).

As these ideas took hold, one big problem developed… How do you pay for them?

Progressive politicians believed they had the answer. They just took Marx's big innovation: A progressive income tax. Let the rich pay!

It's a popular idea – but it never works because decisions to add more benefits don't take into account the expense of paying for them. It doesn't take long for the budget to get out of control. Or said another way, everyone can't live at the expensive of his neighbor. His neighbor can't afford it… and he moves.

More serious, the flaw in communism is obvious. Communism doesn't account for the fact that people expect to control the fruits of their labor. People don't like their assets being stolen and their wages being heavily taxed by a government that regulates their businesses and sends their children off to war. Incrementally, people stop working. Wealthy people flee… or hide their incomes.

Tax revenues fail to meet projections. Deficits grow. Deficit spending soars. And debts mount.

That's where paper money comes in. Paper money isn't only good for financing a war. It's also perfect for closing the gap between what an economy ought to produce and its paltry real production when it has been beaten into submission by communist ideas. I like to explain it this way…

The central truth of economics is scarcity. There can never be enough of anything to satisfy everyone. The central truth of politics is patronage: promising to give everything to everyone. Paper money is the bridge between economics and politic s.

The unpaid debts of an entire generation of people in Western countries are coming due. The so-called "baby boomers" grew up in a world dominated by Marxism and Keynesian economics. These are bad ideas. They are destined to collapse.

And the collapse is here.

Regards,
Braden Copeland

------------------------------

If you need a one-on-one consultation, feel free to contact me to setup an appointment.

Until the next time!

Ankh Uja Snb,
Asar Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

Become a Fan G&G Associates and G&G Travel on Facebook.

"Any fool can make something complex, but it takes a genius to make something simple"
Woodie Guthries

P.S. If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the "G&G Travel" link and let your travel planning begin. Let us know where you want to go and we'll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on facebook.

LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

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The Best Time to Buy Property

Here is some info' I read that I agree with !
For any buying or selling real esate needs in Hampton Roads Virginia consult with me !

Seko VArner,
Real Estate & Financial Freedom
Positively Great Homes & Finances
757-248-3820
www.HappilyEverAfter.Be

"The Best Times To Buy Property !"
The article's direct link:

A Conventional wisdom says that you need to stay in a home a minimum of five years to ensure that you recoup your purchasing costs. But with some markets soaring, this advice doesn't always apply. Article from Yahoo.com & Zillow.com !

It's All About the Market
Market conditions play a huge part in any decision about when to buy. Housing market values have varied widely from region to region in recent years. While the Florida market has seen meteoric rises in home values, Ohio has seen its real estate prices go into negative territory in the last year.

Do not buy high and sell low - if your market is softening or has hit its peak and is heading south, you may want to wait on your purchase.

The magazine Smart Money has created a worksheet to compare the costs of renting vs. buying using market appreciation calculations to determine at what point you come out ahead. Plugging in the price, down payment, your income bracket, interest rate, and current market appreciation rates, the worksheet will break out what you will gain.

For example, say you were to buy a $400,000 house in Boulder, Colorado and you estimate the market will soften from the current 11% appreciation to about 9 percent annually. If you stayed in the house three years, you would recover $88,750 in equity at the end of that period; if you stayed five years, you'd realize $120,360.

It's All About You
The top three reasons people file for bankruptcy are change of job status, divorce, and unforeseen health expenses. If you face any of these challenges and don't have a financial cushion, this may negatively impact your ability to pay a mortgage. Big life events dictate your readiness to buy now or to wait for a little more stability.

Signs you should not buy right now:

•Will you be moving within the next five years?
•Will you be having kids soon?
•Will you be making a job change?
•Have you recently filed for bankruptcy or is your credit score below 630?

If you answered yes to any of these questions, or you are experiencing other life-changing events like illness, marriage, divorce, or breakup, you may want to wait.

Your Financial Future
Aside from life events contributing to your decision, getting your financial house in order before you begin your home search is key. Even with all the programs available for buyers with a low-or-no down payment, if your debts are growing steadily and you don't foresee an increase in your income, you are putting yourself in greater financial risk by taking on a mortgage.

With only a few exceptions, many loans for people who are still repairing their credit or recovering from bankruptcy carry higher rates than those available once your credit is in better shape. So the question comes down to this: Do you buy now, before prices appreciate higher than you can afford, but do so with an expensive loan? Or do you wait and repair your credit, then get a favorable loan, and pay more for your home?

That's the sort of analysis you need to go over with a financial counselor or mortgage broker before you start hitting open houses.

Ways to Cushion the Blow
On the other hand, if you are willing to buy a home that needs a bit of work and, over time, you can afford to get it done, your home could appreciate faster, strengthening your financial position. If you are willing to take on a roommate or renter, you can also soften the expense of a mortgage, which almost always costs more than rent. Buying a home is a risk, and it's worth asking yourself hard questions about what you're willing to do to protect yourself from getting in over your head.

If you answered "no" the life-change questions, and have the down payment or equity from your current home, you still need to look at interest rates and at how buying affects your taxes. You can't time the stock market, but you can time interest rate hikes, as they are a little easier to predict. If they are going up fast, you can jump in before they rise too far; if they are already high, you will have to calculate how refinancing in the future affects your budget.

What to Do First
If you are anxious to get moving, be patient. You have a few things to do first:

1.Go to open houses - get the lay of the land
2.Talk to a mortgage broker to get pre-approved
3.Interview agents (You may want to find an agent at the same time as you look for a mortgage broker - a good agent can recommend reputable brokers and help you make sense of the terms of the loan) - Call Seko @ 757-248-3820
4.Review credit report and scores with mortgage broker to determine if any repairs are needed
5.Use Zillow.com to find info on neighborhoods that interest you and then use the Home QandA feature to ask current homeowners.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Black Improvement Economics is a service of The Imani Foundation
http://www.imanifoundation.com
These posts provide information that may aid financial improvement. The information on this site is provided as opinion and should not be construed as professional legal advice, nor professional financial advice, nor professional tax advice. The end reader is advised to seek professional assitance to address one's particular situation. The posts on this site may be third party information and may not be copyrightwritten by the poster of the information.

Only Common Sense

This is G&G; Financial Consulting e-Newsletter

This Only Takes Common Sense to Understand

Alafia (Peace & Blessings) G&G Readers,

It's all fun and games until somebody loses their IRA.

By now G&G Readers should all be familiar with the games central bankers play… print a little money here, prop up the market there, pass the buck like a hot potato, and do everything possible to keep the circus going.

We put up with the games mostly because… well… I don't really know why we put up with them. Maybe it's apathy or laziness. Or maybe we're all so busy trying to keep our own heads above water, we're not paying attention.

But we can't ignore what's going on in Europe right now. It’s painting a picture for what’s to come here is the US.

*** Side-Note: see archived newsletter “Uncle Sam Wants Your Retirement Plan” from March 30, 2010 at G&G Associates website.

-----------------------------------
Internal Sponsorship

With the falling dollar and the explosion in gold, silver, oil and other natural resource prices, you need to stay on top of your game and manage your “OWN Finances.”

Become a GGIS subscriber now and you’ll be sure that we make sure you stay on top of your Tax and Financial Future to make sure your BUSINESS … AT HOME is protected. Remember…most people look after their bosses business, but fail to look after their own business at home.

Take advantage of our 2010 discount lifetime subscription offer if you are not yet a member of the GGIS paid newsletter service and you’ll be on your way to knowing how to protect your portfolio...at least what’s left of it. I’ll keep you informed on the “REAL DEAL” in our economy so you can protect your wealth. So....Sign up today before the price increases in 2011.

To become a member of the G&G Investment Society newsletter subscription, send an e-mail to GGIS@gngassoc.com and/or visit our website at www.gngassociates.net and click on the “Products & Services” link and we’ll get you signed up right away.

DON'T WAIT ANOTHER DAY!

- 1 year subscription - $49 (2011 Price Increase -- $99)
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-----------------------------------

Last week, Ireland's government announced it would use (confiscate, seize, steal) $30 billion from the country's public pension program to purchase Irish government bonds. Hungarian officials announced a similar program using $15 billion of public pension assets. French officials also surrendered to the idea and are putting $45 billion of pension assets into France's sovereign debt.

Just to be clear… Much of the proceeds these governments receive from selling bonds are used to fund social programs such as welfare, health care, and unemployment benefits. So, by using pension fund assets to buy these bonds, the governments are taking long-term savings from hardworking, industrious individuals… and giving the money to those who are currently down and out.

What happens years from now when the hardworking, industrious folks decide to retire and discover their money isn't there, or it's worth only a small fraction of its original value?

Of course, government officials will argue this is a temporary measure to bridge the funding gap caused by the weak global economy. When the economy improves, tax revenues will increase, and they'll be able to pay down the debt and replenish the pension fund coffers.

Bull Shigidy!!!

The funding problems are systemic. They're not the result of economic downturns. They're the result of stupid politicians making stupid promises to gullible people. "From those who can to those who need" may sound good on paper, but it fails miserably in practice.

The real issue, however, goes beyond the politics of socialism and/or communism. What does it say about the quality of a government's debt when the only entity willing to purchase it is the issuing government itself? {Can anyone say Ponzi Scheme}

Now, you can dismiss this as a European problem – just a bunch of Irish, French, and Hungarian politicians doing whatever they can to appease the masses and keep their cushy offices. Why should we care?

We should care because it's happening here too – in the good old U.S. of A.

The Fed is already using taxpayer money to prop up the bond market and keep interest rates artificially low. Once again, what does it say about the quality of a government's debt when the only entity willing to purchase it is the issuing government itself? {Again…Ponzi Scheme}

And… does anybody remember the trial balloon the current administration floated several months ago? You know… the one about using public pensions to buy annuities backed by U.S. Treasury securities.

None of this happens by accident.

Central bankers talk to each other. They know the ticking time bomb everyone is trying to kick down the road. And they know if it gets to the United States, it's a dead end. There's nowhere else to go.

So what can you do?

*** First, if you're a government employee and have a government pension, you need to do whatever you can to take control of the assets yourself. NOW… Talk to your administrator and find out what your options are.

***Second, sign up and become a GGIS Paid Subscriber and I’ll tell you what else to do to save your retirement.

*** Or, you can keep doing nothing and watch your retirement be gone…your choice.

Until the next time,

---------------------

You are most likely aware that gold prices have been higher each of the last nine calendar years and have averaged about 15% annually. And, in this tenth year, The Wall street Journal reports that gold is now up 22%. This confuses most of the public, political scientists, scholars and journalists.

However, a true economist, using fundamental macro-economic monetary principals, can easily understand what has happened and what is in store. Seriously, is the astronomical growth in the monetary base of U.S. dollars, in which gold is denominated, any secret? A highly acclaimed book that is perceived as an ''easy-read'' for those who want to gain insights into this issue is titled AFTERSHOCK. It can be found on Amazon for about $15 at the following link:

http://www.amazon.com/Aftershock-Protect-Yourself-Financial-Meltdown/dp/0470481560

On Amazon.com, a reader from Houston said this about the book: ''I find this to be the most complete and comprehensive analysis of America's ongoing economic problems that I have thus far encountered. In addition: the reasoned deductions which the authors draw from their analyses are far ranging and logical; and, for the most part, the conclusions which they reach are well justified and difficult to dispute. So, if you are looking for a book that will give you some valuable insight into what is happening to the U.S. economy today, and why; which explains how the ultimate collapse of that economy and the U.S. dollar will take place; and which forecasts what the United States and the world at large will be like following that calamity, then this is certainly a book which you should read.''

If you sign up to become a 2 year or lifetime GGIS Subscriber, I’ll send you a free copy of AFTERSHOCK. So, sign up today so I can get you a copy of this must read book.


Ankh Uja Snb (Life, Health, Strength),

Asar Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

G&G Associates & G&G Travel are on Facebook, join our fan page.

"Any fool can make something complex, but it takes a genius to make something simple"
Woodie Guthries

P.S. If you're not a GGIS Paid Subscriber reader yet, it's not a bad way to start the year. The recent dollar rally has actually given everyone some new opportunities to invest on the cheap. And currently, our GGIS portfolio is packed with great plays to kick-start your "anti-dollar" portfolio for 2010.

P.S #2 If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the “G&G Travel” link and let your travel planning begin. Let us know where you want to go and we’ll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on facebook.

LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Black Improvement Economics is a service of The Imani Foundation http://www.imanifoundation.com These posts provide information that may aid financial improvement. The information on this site is provided as opinion and should not be construed as professional legal advice, nor professional financial advice, nor professional tax advice. The end reader is advised to seek professional assitance to address one's particular situation. The posts on this site may be third party information and may not be copyrightwritten by the poster of the information.

When You Shouldn't Use a Credit Card

15 Times When You Shouldn't Use Your Credit Card
by Marcia Frellick
Thursday, October 7, 2010

There are plenty of reasons to use a credit card — convenience, accountability and safety among them — but when is it better just to step away from the swiper?

There are many out there who would say that there's never a good time to use a credit card, and that cash, debit or anything else would be a better choice. While forgoing credit for good may or may not be realistic, there are some times when it is best to just leave the card in your wallet or purse. Here are some times when you should never use your card:

1. After midnight. Paraphrasing Eric Clapton, after midnight tends to be when people let it all hang out — even financially. "After midnight is the time you get into more trouble rather than making a sound financial decision. If you're at a club or casino, just go home," says Michael McAuliffe, president of Family Credit Management in Chicago. Put the card away and take another look in the morning.

2. When you're near your credit limit. "You don't want to be even within a couple hundred of your limit or your credit score will go down," says Mary Ellen Nicol, counselor with CredAbility in Atlanta. If you're getting too close to your credit limit, ask your credit card company to raise your limit, switch to a card with a lower balance or find another way to pay.

3. When considering an extended warranty at the car dealership. You can probably get a better deal if you roll the warranty cost into the car loan. Even though you may have a slightly higher monthly car payment that way, wrapping it into a secured loan likely still beats paying high interest for it on your credit card, says David Johnson, bankruptcy counseling director at ClearPoint Credit Counseling Solutions in Los Angeles.

5. If you're paying off one card with another, and it's a habit: "If you're swapping your debt every six months, that's going to show up on your credit report," Bowne says. If it's a one-time thing, consider whether the offer is too good to be true. "Transfer fees have gone up at least a percent on average in the last year," Bowne says. "We're talking about 4 percent of your debt you're going to pay up front just to transfer the debt." Be clear on the rate you will pay after the promotional rate ends. It could be higher than the rate you're trying to escape from, she warns.

6. At a flea market: "It used to be that you always had to have a wad of cash. Now, through the magic of technology, some guy selling rickety, old wagon wheels can take your credit card," Williams says. This is the kind of purchase where convenience doesn't outweigh the risk, she says. Bring the cash.

7. If you think you're building your credit history: David Beddoe, counselor with American Financial Solutions in Seattle, says he hears that a lot. While your credit score goes up if you pay off the purchases you make, putting items on a credit card without paying them off will have the opposite effect on your score, he says.

8. If you can't pay for half of the purchase with cash on hand: Say you need new tires, Nicol says. If you don't have half the money right now to pay for the repairs, wait until you do. Then charge the purchase, pay off half right away and make a plan to pay the rest in one to two months. In the case of tires, you probably knew you needed them months ago and that would have been the time to plan ahead for the expense, she says. Check out public transportation or reduce your driving and save until you can afford at least half.

9. When it's all about the rewards points: Rewards points "should be nowhere in the equation for making that decision or not making it," says Michael McAuliffe, president of Family Credit Management in Chicago. "Base your decision on the merits of the purchase." Otherwise, you will tend to overspend. If you want to finance a vacation, skip the coffee or dessert or find cheaper parking and put away $5 a day for a year, he says.

10. When you think prices may drop: "For many things in our society, we're starting to see deflation. If you think it's going to cost less in three months, why start paying interest on it today?" McAuliffe says.

11. To buy something from a website with an obscure foreign extension: Don't charge online if you don't know who you are dealing with, says Catherine Williams, vice president of financial literacy for Money Management International. "While you always have protection under the Fair Credit Billing Act, the damage that can be done during that 30 days (until you see it on your bill) is just crazy." Study the website -- watch for suspicious wording — to make sure it is legitimate.

12. If you don't have a plan for paying it off: "We always recommend paying a purchase off in no more than three months. Without a game plan, you're playing credit card roulette. That's when people get into trouble," says Kathy Virgallito, a regional director for Apprisen Financial advocates.

13. If you're charging things that you used to pay cash for: That's a red flag that you're getting overextended, Virgallito says. You need to review your credit card statements and identify where the budget issues are. If you're suddenly having more car repairs or travel expenses to visit a sick relative, you may need to create a specific savings account for those things rather than relying on credit, she says.

14. When you feel that you'll save money by purchasing something you want rather than need. Beddoe gives the example of someone saying, "If I buy this 60-inch TV right now, I can save $200 on it." If you never planned to get that TV in the first place, it's hardly a savings, says Beddoe.

15. When the temptation for a big impulse buy strikes: "We instituted the 24-hour rule at our house," Williams says. "Anything over a certain dollar amount that isn't food, we have to wait 24 hours to buy. Had we not observed that ...I would have a fire engine red wicker chair. It would have been so cute on the Fourth of July for about 20 minutes."

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Black Improvement Economics is a service of The Imani Foundation http://www.imanifoundation.com/
These posts provide information that may aid financial improvement. The information on this site is provided as opinion and should not be construed as professional legal advice, nor professional financial advice, nor professional tax advice. The end reader is advised to seek professional assitance to address one's particular situation. The posts on this site may be third party information and may not be copyrightwritten by the poster of the information.

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The Best Government Loophole or Trick Ever

Black Improvement Economics presents:

This is G&G Associates Tax & Financial Consulting e-Newsletter

The Best Government Loophole or Trick Ever

Hotep G&G Readers,

On December 31, 2010, the government will close an amazing loophole… one that affects 60% of the U.S. population.

In an attempt to collect taxes today to pay for its excesses, the government is promising to never tax our retirement money in the future. Let me explain…

It turns out, close to 90 million people are holding $7 trillion in either IRAs or 401(k) plans.

Some of you are holding it in the wrong accounts.

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If I can’t show you how to save a $1000 on your taxes next year, then I’ll give you a free year’s subscription to the G&G Investment Society (GGIS) newsletter service. Somehow I think you can use the money more than your Uncle.

Give me a call and I’ll show you how to implement this strategy and keep 30 cents on every dollar by doing so as well. This is what you call SMART planning and investing.
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When you put money in a traditional IRA or 401(k), the government defers taxing it until you start withdrawing the money after age 59 and a half. Roth IRAs are the opposite. You pay taxes on the money before you put it in. The money you earn in the account is tax-free and you don't pay taxes when you take out your savings.

This year only, the U.S. government is letting everyone – no matter their income or assets "convert" retirement money in traditional IRAs and 401(k)s into a Roth IRA. To encourage you to do so, the government has sweetened the deal.

Usually, when you do a conversion, you pay the taxes in full at the time of the conversion. But right now, if you agree to convert to a Roth by the end of the year, you can delay paying the taxes until next year. You can even split the bill 50-50 between 2011 and 2012.

So, you have to make sure you have a professional taking care of your taxes who is familiar with this conversion to make sure you are covered and G&G Associates will be able to take care of you if you choose to make the conversion.

If you're one of the millions with a traditional IRA or 401(k), taking advantage of this loophole could save you thousands of dollars in retirement.

If you defer your tax bill and split it, you'll essentially get a tax-free loan for eight to 20 months. And T. Rowe Price data showed a 45-year-old man who puts $25,000 into a Roth ends up with $53,300 more by the time he is 85 than if he left it in a traditional IRA. And that even factors in a drop in his tax bracket from 28% today to 15%.

If your income tax rate will be the same as today or higher in your retirement, converting is even more attractive. And trust me, taxes are going higher in the future.

Next year alone, tax rates are scheduled to rise. The two top marginal rates are rising to 39.6% and 36% from 35% and 33%, respectively. It's only a matter of time before they rise again.

But perhaps the most powerful reason for converting to a Roth is the ability to continuously build money over both your lifetime and your beneficiaries'. I call it the "The Next Generation Plan" because it allows you to keep the money growing until you die. This is not true for traditional IRAs and 401(k)s.

When you turn 70 and a half years old, traditional IRAs require you to stop putting money in and start taking money out. It's known as the Required Minimum Distribution, or RMD.

Roth IRAs have no such rules. So using a Roth allows you to grow the account longer and take advantage of the power of compound interest under a tax-free umbrella.

Even better, you don't ever have to take money out of your Roth. The money goes tax-free to your spouse and your beneficiary.

Moreover, you can contribute money into the Roth at any age, as long as you have "earned income." This means at 75, 80, or 85, you can fund your account and continue to see it grow.

Converting to a Roth protects your retirement savings and allows it to grow in several ways. And now (with the 2011-2012 split available) is an ideal time to do it.

It's not often the U.S. government gives us a loophole this important to our retirements. But the feds are cash-starved and desperate to take in as much tax money as possible. The time to take advantage is now.

There are lots of things to consider before you make the conversion, and I didn't have room to go into all of them here. But if you want to set up a one-on-one consultation to discuss further, please contact me to set up an appointment.

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With the falling dollar and the explosion in gold, silver, oil and other natural resource prices, you need to stay on top of your game and manage your “OWN Finances.”

Become a GGIS subscriber now and you’ll be sure that we make sure you stay on top of your Tax and Financial Future to make sure your BUSINESS … AT HOME is protected. Remember…most people look after their bosses business, but fail to look after their own Business At home.

Take advantage of our 2010 discount offer if you are not yet a member of the GGIS paid newsletter service and you’ll be on your way to knowing how to protect your portfolio...at least what’s left of it. I’ll keep you informed on the “REAL DEAL” in our economy so you can protect your wealth. So....Sign up today!!!

To become a member of the G&G Investment Society newsletter subscription, send an e-mail to GGIS@gngassoc.com and/or visit our website at http://www.gngassociates.net/ and click on the “Products & Services” link and we’ll get you signed up right away.

DON'T WAIT ANOTHER DAY!

- 1 year subscription - $49
- 2 year subscription - $84
- Lifetime subscription - $199
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If you missed a past G&G article, click on the link below to visit G&G Associates archive:
http://ezinedirector.com/admin/publisher/archive/public/?fuseaction=a&e=7944575E0843077440

Until the next time!
Asante Sana (Thanks)
Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
http://www.gngassociates.net/

"Your mind is like a parachute, it only works when it is open."
C. Brown

P.S. If you're not a GGIS Paid Subscriber reader yet, it's not a bad way to start the year. The recent dollar rally has actually given everyone some new opportunities to invest on the cheap. And currently, our GGIS portfolio is packed with great plays to kick-start your "anti-dollar" portfolio for 2010. Click here www.gngassociates.net for details about how to subscribe now (and get access to our members only website where you get or all kinds of extra bonuses and premium reports), for just $49 a year or $199 for a lifetime subscription.

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LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

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Black Improvement Economics is a service of The Imani Foundation http://www.imanifoundation.com/ These posts provide information that may aid financial improvement. The information on this site is provided as opinion and should not be construed as professional legal advice, nor professional financial advice, nor professional tax advice. The end reader is advised to seek professional assitance to address one's particular situation. The posts on this site may be third party information and may not be copyrightwritten by the poster of the information.