Let's talk about economic eroding factors. These are factors that can rob you of financial losses that no one will talk to you about. Why won't the financial institutions and financial planners discuss these factors? Probably because they either don't know or if they discussed them you would not purchase their products.
Let's discuss what eroding factors are. These are situations that are in place that will cost you money either directly or indirectly. Economic eroding factors are inefficiencies that are evident in the financial world but overlooked since trying to eliminate them is time consuming and costly. Also eliminating them will create wealth for individuals at the expense of financial institutions. One would scratch their head and ask the question, "Why wouldn't the financial institutions try to help the consumer since they are charged with fiduciary responsibility?" What ever the questions that are asked, the simple fact remains that they don't even try.
What are economic eroding factors? There are what I call the top ten.
1. Taxes
2. Inflation
3. Technological Change
4. Planner Obsolescence
5. Financial Expense
6. Lost Opportunity Cost
7. Interest Rate Declines
8. Stock Market Declines
9. Loans and Interest Charges
10. Lawsuits
There are more but we will address these in the next issues of Money Talks. I want to give you the tools to understand how to keep more of what you have therefore you need to know what to look out for. Also you can go to www.FinancialFreedomRadio.info and listen to past and future recordings where I go over them in greater detail. Become a student of eroding factors and you will have more insight than any financial planner or accountant on the planet.
Don't miss the next issue where we will talk about Taxes. Also go to www.MoneyTeleSeminars.com and sign up for future seminars.
Thanks for reading,
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Dr. Raymond Jewell
Business Mentoring by Dr. Raymond Jewell
Financial Seminar
Financial Freedom Radio
