Comments on: Missed Fortune 101 — Horrible Advice!

By: teedee

teedee — Mon, 22 Aug 2011 21:40:45 +0000

Ninety-Five percent of American’s are broke at retirement following the traditional advice given by the main stream gurus. The other 5% of Americans are wealthy at retirement by RUNNING the complete opposite way of everyone else is going. Missed Fortune is my way of RUNNING the complete opposite way of everyone else and it has paid off a million times over. You all can be ignorant and listen to traditional financial advice or RUN, your choice, I’m just glad I opened my mind to the true concepts in the book.

By: Smartee Pants

Smartee Pants — Sun, 26 Jun 2011 12:45:18 +0000

I paid my 3600+ sq ft house off at age 40 and did set up a HELOC as a way to get quick cash (literally, seconds via the credit union website) if I need it. That was my “insurance” the first 1/2 year while I had less reserve money. But in the past year, I’ve saved up enough money by investing in ETF’s that pay monthly dividends that I could live a few years without any income. In fact, should everything continue, I’ve already got enough in my 401k to retire, enough saved up to cover all the bills several years, and it’s growing very fast. I could retire at age 47 if I wanted to. (I won’t due to cost of health insurance when you get it individually.)

Paying the house off has not locked up my money. It’s making it grow. This guy is on the radio right now. I’ve heard him before. He talks a lot but says nothing other than spewing fear and words like “inflation,” “housing slump.”

This is the worst advice I’ve heard in a long time, totally contrary to my experience in the past year. I don’t understand how he hasn’t been sued by those who take this “advice.”

By: Jeff

Jeff — Sat, 28 May 2011 05:40:34 +0000

Doug: ignore the self promotions on here and instead read the books and look into it for yourself. Sad that this thread has been hijacked by self promoters and many many comments get deleted! Makes you wonder if the self promoters are running the site…

By: Roccy DeFrancesco

Roccy DeFrancesco — Tue, 24 May 2011 02:12:45 +0000

I recommend you got to http://www.www-missedfortune101.com; http://www.badadvisors.com and http://www.retiringwithoutrisk.com.

If you have any question after visiting these sites, click my name above and let me know.

roccy

By: Doug

Doug — Fri, 20 May 2011 22:00:14 +0000

I just want to say, I recently watched a webinar by Doug Andrews.

Okay there are a lot of compelling things here. I’ve lived my life trying to buy a house and get out of debt, after 12 years of house payments I lost it in the divorce, I have nothing.

I have 0 retirement and I’m now 40 years old. And I’m still trying to get out of debt after I got out and now have lawyers fees, living expenses, and I won the prize and got the $18K debt that came with the one of 3 cars that wasn’t paid off. (I think my lawyer sucked)

Honestly, when I was in high-school I learned about compounding interest and decided I would never get into debt… very hard thing to do. I’ve been trying to get out of debt for decades now. With the attitude, when I get out of debt I’ll have more money to invest… (hasn’t happened)

I have nothing, I don’t even know if the insurance investing would work for me, I have no home, no 401k to flip. All I could do is start making payments to a life insurance policy that sounds like it is zero tax shelter if I ever let the policy laps… but if the policy never lapses… it’s a tax shelter… and there’s no tax shelter in the other plans that I see… not even a hope for it.

I’m still deciding. It feels like a scam. It makes insurance companies wealthy. I’d rather own a poker casino and just collect rake from people’s pots… there’s absolutely no risk there… but I don’t have that option.

Should I be considering Flexible Maxmimum Funded Insurance?

By: Jeff

Jeff — Sat, 23 Apr 2011 22:25:07 +0000

To Rick. So Tired of hearing this. You are wrong on one thing. Your Home is Not you asset, unless you are making money from it. It is not your asset unless you sell it, until then its a liability. If it isn’t generating income then its not an asset. You probably think all homes go up in value too.

By: Kiko Liston

Kiko Liston — Tue, 14 Sep 2010 22:19:17 +0000

If you want to only plan your future on certainty.. plan on death and taxes.. anything else is up in the air..

Interest deduction on your income taxes is unlikely (yes unlikely, if you preferr, look for above solution) to be eliminated anytime soon.. it’s been tried before numerous times unsuccessfully. MF strategies work, whether you “believe” in it or not.. you can debate numbers all day long, those that choose to argue agains, will argue against until kingdom come. Those that see the logic, will proceed accordignly. You are clearly ignorant of mortgage products so that throws out your credibility since you need to know that par well if you are going to argue against the concepts of MF101. Bottom line, you are an idiot.. go back to freeloading off of borders and other book stores where you read books for free.. and whatever other shanninigans you do to scrape a penny here and a penny there while you trip over the dollars… you wouldn’t be the first, and you won’t be the last…

By: Jeff

Jeff — Tue, 13 Apr 2010 19:35:52 +0000

@Mark I had my money in a vul and lost money eiul are nice because of they mitigate the loss mine has a guarantee of 1%.

By: Jeff

Jeff — Tue, 13 Apr 2010 19:29:27 +0000

Seriously why are people allowed to use this thread as an advertisement. I’ve had a Missed Fortune plan for years and it is working just fine, yeah the first few years stink but how can you say that the 12% return this year is bad? how can you say in 2008 when everyone else lost 50% that this is bad. Am I glad I took equity out of my home 3 years ago YOU BET! That money is safe in my policy and not consumed. Sad to see sharks like this guy on her pitching himself and not actually why he is all talk and no action! If you take the time to learn like I did you will see the benefits are huge.

By: Roccy DeFrancesco

Roccy DeFrancesco — Thu, 11 Mar 2010 13:06:44 +0000

It’s an E&O disaster for agents using the book. If I was still practicing law, I’d seek out clients who received advice based on MF101 and the book would be exhibit #1 in the lawsuits filed.