Posts Tagged ‘tax law’


Mr. Devane’s gold commercial doesn’t tell you everything!

Gold_Digger_-_William_Devane

Actor William Devane is back “in character” on television ads in his most recent gold commercial. 

Here is why it is so dangerous to poor Grandma and Grandma:

First, the ad shows the US Debt clock reminding us of the current financial crisis we are in. (That part is real) Then a quick fade to rioting in the street to let us see what’s coming next. Or not. 

Next, the ad shows money being printed like there is no tomorrow. (Trust me, there is always going to be a tomorrow) Next up — we get induced by a cozy fireplace scene while Billy drops those gold pieces one by one from his hand. We hear the clanking as we get told “I even like the feel of gold”…  whatever.

It is the last part I find fault with. We are told “You can also put your gold in a retirement IRA” as the camera next shows him placing his stack of gold coins in  a wall safe and covering it back up with a fake picture front. You can’t miss the gold bars too in the safe, alluding to how safe it is storing your gold at home is! 

Are you kidding me? 

People I know bought large quantities of gold coins or bullion and were so worried after delivery that someone was going to steal it – they had to go put it in bank deposit boxes! Recently, one of those brand name banks just hit the “D” grade by Weiss Bank ratings…  What do you do next with it – bury it?

The cunning William shuts the wall safe door while stealing a popular credit card slogan as he says “What’s in your safe?”  Hopefully not much if YOU told anyone how excited you were to take delivery of physical gold at home…

The devilish side of this TV actor parts way with truth, at least regarding my two points. First, storing valuable assets at home will help you give you an ulcer quickly. Second, you can’t put your IRA into precious metals holdings and keep the metals at home. The IRS forbids it!

As Grandpa and Grandma most likely are pushing the remote control volume up to hear every word, remember that Grandpa got fooled before and now – they both may get fooled again, since they want their former lifestyle back! (Seems Grandpa lost about 1/2 of his IRA account in 2008 and Grandma forced him to put what was left in the local bank at a measly 1% a year return)

The commercial doesn’t disclose this stuff I am bringing up. And they should. No, I’m not saying that some IRA money shouldn’t be invested this way. But, I am saying that disclosure is missing in these ads no matter who is hawking gold or silver coins or bullion bars in these slick commercials!

Make no mistake — Grandma and Grandpa will never get to touch those coins if they agree to put their IRA money into a gold IRA. No clanking coin sounds. No   shiny metal coins to appreciate how they feel in the hands.

And, if bought online, they can’t verify the products hawked by these gold digger salesman are even real! They can only find true value of the merchandise when they later decide to sell.  My own father got fooled paying about $2,000 more than market value for two gold buffalo coins a few years ago. Thank goodness he didn’t sell the farm and put it all in overpriced numismatic coins that often fall down to values related to “gold content” when all hell breaks loose. Buy close to “melt” value or tell them no!

Now, perhaps you are that Grandma or Grandpa getting “bug eyed” over theseGrandpa_and_Grandma_Staying_Home_A_Lot  ads wanting you to invest in gold with your current IRA. Or the kids of parents who may be getting overly influenced by ads that bait and switch. Even the free gifts offered are that final “straw” that can make a senior break down and call the toll-free number. After calling, you can pretty well count on a transaction taking place soon after since professional phone salesman forsake Dodd-Frank U.S. law regarding “knowing your client” and shoot you a deal that sounds impossible to say no to. And urge you to “buy” today to get the deal that will be gone tomorrow.

I sold gold funds in the mid 80’s as a financial planner. I put 10-20% into these alternative type investments for clients and watched the money go nowhere for about a decade! And, another decade passed before we saw a “lift” in gold and other precious metal pricing.

Please, get another opinion if this describes you. And, if this describes your parents, call them and ask them to run it by you before they do something drastic with their remaining retirement savings accounts.

Do I have a plan for clients that makes more sense? Yes! Stay tuned and you will find out where most of the retirement money is going as it exits the doors of banks and brokerage firms still teetering on financial conditions that are just about as bankrupt as possible — if all “worthless” assets had to suddenly be accounted for in their balance sheets! 

You are about to discover credible IRA investment options not commonly known or promoted by the investment advisors. Safety is the key, while still investing for growth potential. Never forget — Mr. Devane is just a paid “ACTOR” and so are all the other Hollywood “B” actors who hawk products on television! Pay them their fee, and they will say just about anything to convince you to buy something that may be the last thing on earth you really need. Keep the salt shaker handy next time you hear a TV or radio ad that sounds too good to be true.

M.D. Anderson, President, AZCLDP, Accountant

Financial Strategies, Inc., Chandler, AZ

&

IRA Director, Realtor

RE/MAX DIAMOND, Mesa, AZ

Toll Free: 1-800-782-2806

Now that you have called Grandma & Grandpa to tell them not to “Get Fooled Again”, sit back and enjoy this Re-mastered full length Version of the song.

 

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Lets Dance Crazy

CLICK ON PICTURE FOR THE D.C. DANCE REVIEW!

I know, the house cleaning already started with the last election. But, I’m talking term limits, not just new blood. You get them both going in this country and recruit some kind of Julian Assange type guy (but without the illegal part) to track progress online, daily, of each of our new elected politicians while kicking the rears of the old guys (the permanents) at the same time. Then you have something that makes more sense.

I personally would love to have the job of hollering “don’t let the door hit your you know what” as they are forced out under term limit law we need so desperately. I’m talking a little more rotation here like the way it was when George Washington was still around as our first Pres. Take a couple years off of farming the farm, do your duty, then LEAVE! Sure, we may see more Slurpee’s and a few guys wearing those stocking caps, or even a youngster letting his pants “hang” a little low by bringing the average age down to a 20’s to 60’s range versus the 50’s to 90’s range we have now. Different generations have different cultural backgrounds some will have to adjust to. But, it would be better I am sure of it.

Instead, I’ve watched some come in when I was young, and now that I am middle aged, they are still there! I really don’t want to watch C-Span with all those wheel chairs and breathing devices for the senior political muggy mucks who decided long ago that once elected, they would die in office. Please, resign and check into a nursing home or go back to the farm… or back home if you can still remember where that is, BEFORE it is time to “buy the farm”. Just the savings alone on the free health care our elected officials get would be mind numbing if we could cover them at young or middle age, not as old geezers hanging on by a thread up until their last breath (still in office).

Leave them in there just long enough to sustain “ideas” into “action” and then kick them out. We have plenty of inventive, creative, forward thinking citizens to step in and carry on the torch of any good program started. And, to get rid of programs that are not fair, or were born out of favoritism or bribes to pay back a certain group or person who helped someone get elected. Which brings up the money. Set the same ground rules for the political seasons of pre-election advertising. Let it fit the budget of just about anyone, not just those who already have millions in the bank. That is not fair because only the “rich” get elected. And because they stay in office for decades, they just get richer with special interest group payoffs, endorsements, speaking engagements and so on.

Could term limits cause questionable law, temporary fixes, cancellation of programs that work, or just plain general chaos?

Well, probably not any worse then the “crazy” we NOW HAVE!  And there is one more reason to throw the permanent politicians out of office. They quit listening to us. They ignore the “pulse” of the country. We the people are not being properly heard anymore. Why don’t you send your “old” politician a new set of hearing aid batteries. Maybe they will get the hint if thousands do that.

M.D. Anderson


Central Iowa TornadoI wrote this article a month ago after working on some estate planning legal documents for my retired parents, my Iowa farm family.  It seems like history is about to repeat as the political “football” they put in the air about 10 years ago a.k.a. the “sunset clause” is set to drop on unsuspecting farm and business families.

The scare of “death tax” is returning if the politicians don’t divert the path by year end. It is a good example to start off this new blog about how to stay smart in a dumb world.

LINK: Read More About It

And, here is a reminder of just how damaging an Iowa tornado can be: