I received a link to this video not too long ago with Mike Maloney of goldsilver.com talking about the soon to come greatest wealth transfer in history. Check it out.

Gold has become very expensive over the last few years, so I like silver. Silver, while getting more and more expensive, is still affordable and regular people still have the opportunity to build up a small stock pile as a hedge against whatever may happen.

It has become very difficult to get a good idea of what is really going to happen with the economy and our currency. What I do know is that our currency is a fiat currency, meaning that it is just paper not backed by anything of real value. I also know that the Federal Reserve is printing more and more currency all the time. One more thing that I know is that there has never in history been a fiat currency that didn’t eventually fail.

That is why I am making sure that I have at least a little gold and silver hidden away somewhere for a rainy day.

One good place to learn how to safe-guard your wealth is with Mike Dillard’s Elevation Group. Mike is learning a lot about how the wealthy grow and protect their wealth regardless of the economy, and he is sharing that information, and his access to the experts, with everyone who wants to learn.

Mike will be doing a webinar soon where you will be able to learn more about what The Elevation Group is all about and how you can gain access to this information. The Elevation Group is how I learned about Mike Maloney, and he is just one of the experts that Mike Dillard has met. Check out the webinar and decide for yourself.

Go here to register for one of The Elevation Group’s upcoming webinars.

Wayne Woodworth

I was looking for something to listen to and came across Robert Kiyosaki‘s audio book – Increase Your Financial IQ. It was published in March 2008 and has some very good, current information. I highly recommend it. There was some important information in the first chapter that I want to share here.

In 1971 President Nixon took the US off the gold standard, which changed how our money works. Prior to 1971, the dollar was based on gold, which has intrinsic value. To save money was equal to saving gold, so it made sense to save money for retirement or college because it would hold value.

Since 1971, the dollar is no longer money because it doesn’t have any real value backing it. It is now a currency. The word “currency” comes from the same root as “current”, like an electric current or air current. Currents require movement for them to exist. Likewise, a currency requires movement for it to maintain value.  As you can see from our current economy, as the movement of the dollar slows, the value of the dollar decreases and the economy suffers.

Historically, all currencies eventually go to zero.

Are you listening to those financial advisers who are telling people that they need to reduce their spending, pay off debt, and save for the future? If the value of our currency does go to zero, what will your savings be worth?

So, what do you do? How do you secure your financial future? I’m not a financial adviser, so I can’t tell you what to do. I can tell you what I’m doing though.

First, I’m listening to people like Robert Kiyosaki, Donald Trump,  Bob Proctor, and Loral Langemeier. They teach that a job is a lousy way to make money. Kiyosaki, in Rich Dad Poor Dad, said that a job is a good place to learn a new skill, then move one once it has been learned. The thing I like about these teachers is that they preach what they practice. They look for new sources of income and then use that income to buy more assets that generate even more income, and that is what they teach others to do.

Loral Langemeier, in her Millionaire Maker books and Cash Machine Workshops, teaches people how to build a business as an asset, and that’s what I am doing. To be an asset, the business has to generate a sustainable income. I am building my business in network marketing and affiliate marketing which means that I generate income by promoting products from other companies. That allows me to quickly start making money without the up-front costs of developing a new product.

Once I have a business that produces a steady stream of income, I can take that income to buy more assets that then generate more income. Those assets can be investments in other businesses, real estate, gold, gas, oil, or anything else that has a value and an income stream.

This plan doesn’t mean that you have to live without comforts. In Increase Your Financial IQ, Kiyosaki gives an example of how he bought an expensive luxury car.  He took some money out from one of his assets and invested it so that it would make more money. He gave instructions to the person who managed the investment to let him know when it had increased to the point where he could afford the car, pay the fees for managing the investment, and still have the original value of the asset left over. It took some time to accomplish it, but the car was purchased without any money from his own pocket or by decreasing his net worth. That’s a pretty cool deal, huh?

To summarize, the dollar is a currency and all currencies throughout history have eventually failed. To keep our currency alive and maintain it’s value, it has to flow, which means that saving it in a bank account isn’t the right thing to do. A better way to prepare for your future is to convert your money to assets that maintain their value and generate an income of their own. One such asset is a properly structured business, which in my case is in network marketing.

Just as a reminder, I am NOT a financial adviser. Go check out the books by Robert Kiyosaki, Donald Trump, and Loral Langemeier then find a good financial planner to help you decide what is best for you. Ask your financial planner if he or she is wealthy and if he or she got that way by doing what they are advising you to do. If they aren’t, then find another planner.

Wayne Woodworth
Network Marketing Entrepreneur

Diversifying your assets can save your retirement.

If you know anything about the stock market, you know that the experts say that you need to diversify your stock portfolio.  You have a better chance of making money if you have it spread out over multiple companies in multiple sectors.  That way you are insulated from the risk of something happening to one company or even a whole sector.  If you remember the Enron scandal then you probably remember hearing stories of people losing their entire retirement savings because it was all invested in that one company.  You may also remember the “Dot Com” bust when that entire sector took a huge dive.  Mutual funds are a great way for ordinary people to diversify their stock holdings because they provide a single place to invest money that then gets invested in a broad sampling of companies that have been selected by an expert.

The current economy has shown that it is really necessary to diversify at a higher level.  I don’t know about you, but my 401k is only a fraction of what it used to be.  Fortunately I’m still fairly young and have time to recover.  But what about all of the people who have retired or are about to retire?  They have seen their retirement money cut in half, or even to a third of what it was a year ago.

I suggest that people look into asset diversification.  What are other things that you could invest your money in that may insulate you during a poor economy?  There are many things.  A lot of people like real estate.  When times are good and prices are up, you can sell houses for a profit.  When the economy is bad, you can hold onto them and rent them for an income stream.  That makes a lot of sense if that is something you are interested in.

An investment avenue that I like is precious metals like gold and silver.  When the economy is down, like it is now, the values of metals go up.   I also heard today that people like Warren Buffet are recommending that people buy gold because they expect the price to keep going up.

I found a program where you can invest a fixed amount of money every month in gold and/or silver on a savings plan.  You aren’t just investing in something that you never see, like with stocks.  You receive the gold and silver as it is paid for.  You will probably save more money stuffing your mattress with gold and silver than you will stuffing it with dollars.

Wayne Woodworth
I invest in my 401k and in gold. I don’t hide it in my mattress though. It’s too hard to sleep on.

DISCLAIMER: I am not a financial adviser. This is just my opinion and what I have chosen to do with my savings. Please consult a real financial adviser to see what is right for you.

The value of the dollar has been decreasing over the past several years.  You know that.  You know why too.  The government keeps pumping out more money in the form of bailouts and other programs.

Until about 30 years ago, the value of the US Dollar was tied to the value of gold.  We were on a gold standard.  In 1971 President Nixon abolished the gold standard which made it possible for the government to have more money printed without it being backed up by anything.  You’ve got to hear Glenn Beck’s description of this and see his chart.  It is amazing and somewhat disturbing.

I recommend that you convert some of your savings into something that will hold its value while all of this insanity is going on.  I found a great place to get private gold and silver.  Right now they are even offering a FREE GIFT just for taking a look.  You have nothing to lose and everything to gain.  Go ahead and check it out.

I have been learning about gold recently. Gold has been used as money since before recorded history. In more modern times it became easier to carry paper money and less valuable coins to pay for goods and services, but the money was still backed by gold and silver. I actually have an old $1 bill that bears the words “Silver Certificate”. In 1971 President Nixon took the US off the gold standard changing American currency to fiat currency.

From Wikipedia: “Fiat money achieves value because a government accepts it in payment of taxes and says it can be used within the country as a “tender” (offering) to pay all debts.”

Translated, that means that our money has value simply because the government says it does.

The value of gold is much more stable right now than the value of the dollar, so I looked into investing in gold.  I found a company that lets me buy a little bit of gold every month so that I can diversify my savings and gradually build some stable wealth.  Actually, I joined the company.

Check them out, they are called YOUnique Wealth.

Wayne Woodworth
Internet Networker