From the Desk of Rich Hayden - Financial Coach
207 S. Alfred Street, Alexandria, VA 22314
703.773.8409 - o 703.832.6467 - f
Become 100% Debt Free (including your HOUSE!) in as little as 8 Years!
Tonight, President George W. Bush will give his 8th (and final) State of the Union address to the nation @ 9:00pm eastern. It's sure to be rife with political commentary that both sides of the political spectrum will latch on to and try to make there own. One thing I know is that now, more than any time in history (save for the Great Depression of the 1930's), the leaders of our nation are actually aware of the trouble that many Americans are in @ home.
It doesn't take a Princeton Ph.D. economist to figure out that things aren't too rosey for the middle-class of the U.S.A. So, there are a lot of big ideas floating around the halls of the US Capitol, The Treasury Department, The Federal Reserve Bank and The White House these days. Some of them are great, some of them are silly. We'll have to see what ultimately shakes out. But, you can be sure, there will be soundbites flying.
Let's have a quick look at some of the proposals on the table right now that WILL help the average American:
Proposal 1: Tax Rebate Check
How it will help: History has shown that these rebate checks don't actually spur economic activity. However, they do provide a bridge for many people that can pay some bills, bolster savings, or simply give them some cash. So, while not a viable "economics" tool, Rebate Checks do provide an emotional lift to the tax paying electorate.
Proposal 2: Reduced Taxes for Business to Invest in Equipment
How it will help: History has shown that these types of stimuli DO work. When business can purchase equipment/"tools" for their growth and efficiency and do so more economically, they can a) buy more; b) employ more people to use the "stuff" they buy; c) the people who make the "stuff" that's bought have greater job security because other companies buy their "stuff." Pretty simple, right.
Proposal 3: Lifting the loan limits on what FannieMae, FreddieMac and the Federal Housing Administration (FHA) can do.
How this will help: This is, perhaps, where the rubber will meet the road more effectively than anywhere else in the plan as it relates to MOST American families. I do not mean to imply that enhanced unemployment/food stamp benefits will not be meaningful. Rather, this measure, if enacted, will do more to help stabilize home values throughout the nation - and stabilize the value of the single largest asset that 98% of the population will ever own. By increasing the amount of money that Fannie/Freddie/FHA can lend, an "easing" of the credit markets occurs. All financial markets MUST have a credit component which allows for the free flow of capital (money) between parties to occur. The banking/credit/free-market model is less about "the man" getting a piece of the pie as it is about the ability to utilize funds to buy something when you don't have sufficient funds to do so yourself. No where through history has a population been independently wealthy so that it's citizenry can/could pull out a bag of cash to buy a house, car, wagon, donkey, cart, hut or any other major purchase of the day. Perhaps ancient Babylon fit the bill. But, not in modern times. So for all of my railing against banks, credit institutions, credit cards, car loan companies, etc., we need them to keep things moving. Of course, it is my mission to help you win the financial game by uncovering the rules that they play by so you can use them to your advantage.
So, how is the State of YOUR Financial Union? That is to say - how are you doing with your money? Do you have control over it? Does it work for you? Do you know how interest works in your favor, against you? Do you know how to effectively "cancel" most of the interest you're paying? What's your answer?
Yes - great! You're in the top 0.5% of the population - rich or poor - who know!
No - it's not your fault! Here's the deal - no one told you the rules. But, I'm here to uncover the rules of the credit/banking/interest game for you so that YOU CAN TAKE CONTROL of your financial future.
Why am I so stuck on this? I'll be 40 in 5 weeks. I've got kids. Social Security's not going to be there for me, for them, maybe even for my parents - at least not in a meaningful way. I know that I can help people put a game-plan in place so that they can eliminate the fear of the future that other generations have left in their wake. The tools of wealth are not as complicated as you think.
Give me a call @ 703.773.8409 to get started building your financial independence. Or, for a copy of my FREE REPORT: "How To Literally Melt Down Your Debt, And Discover What the Banks and Big Credit Card Companies DON'T Want You To Know" - call 1-888-267-0280 x 8600 and I'll get it out to you in the mail.
Your Friend,
Rich Hayden
Financial Coach
703.773.8409 - p
P.S.: Have a friend who could be helped by this info? Why not forward this on to them? That's what friends are fore!
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