Kerry Lutz's--Financial Survival Network

According to Craig Hemke a/k/a Turd Ferguson, there's a financial virus (herpes) spreading through the markets. The Fed will be increasing rates later this week, at least there's a 96% chance and yet longer term rates are sinking and get this, long term Italian bonds are yielding less than Treasuries! How did this happen and what can be done about? Well you only need to look back at all the Fed's temporary interventions to find the answer. And until the markets start functioning properly again (will they ever) keep your eye on the USD/JPY rates. So goes the Yen, so goes gold, at least for the past 5 years anyway. 

Nasdaq has been hitting the skids for the past two sessions. No wonder, it's been hitting unsustainable levels, largely due to just 5-6 stocks. It has become unstable and therefore ready for a plunge. There's so many pockets of extreme leverage that can't have a happy ending. This time might be different, but in a really bad way. Debt is a direct threat to the market and the economy. 

Breaking Down the Fiduciary Rule

The Department of Labor’s definition of a fiduciary demands that advisors act in the best interests of their clients, and to put their clients' interests above their own. It leaves no room for advisors to conceal any potential conflict of interest, and states that all fees and commissions must be clearly disclosed in dollar form to clients. The definition has been expanded to include any professional making a recommendation or solicitation — and not simply giving ongoing advice. Previously, only advisors who were charging a fee for service (either hourly or as a percentage of account holdings) on retirement plans were considered fiduciaries.

Fiduciary is a much higher level of accountability than the suitability standard previously required of financial salespersons, such as brokers, planners and insurance agents, who work with retirement plans and accounts. "Suitability" meant that as long as an investment recommendation met a client's defined need and objective, it was deemed appropriate. Now, financial professionals are legally obligated to put their client’s best interests first rather than simply finding “suitable” investments. The new rule could therefore eliminate many commission structures that govern the industry.

Advisors who wish to continue working on commission will need to provide clients with a disclosure agreement, called a Best Interest Contract Exemption (BICE), in circumstances where a conflict of interest could exist (such as, the advisor receiving a higher commission or special bonus for selling a certain product). This is to guarantee that the advisor is working unconditionally in the best interest of the client. All compensation that is paid to the fiduciary must be clearly spelled out as well.

Before getting involved with Amazon and online marketing, Mike was a dedicated real estate investor. He made a fortune purchasing foreclosures at auction, flipping them and then repeating the process. Finally, he accumulated a portfolio of rental properties. The problem with rental properties, management issues aside, is that the returns while respectable aren't stellar. That's why he jumped at the Amazon opportunities. His returns are multiples higher than what he achieved in very successful real estate investing. And that's why he's teaching you how to do it too. There's plenty of opportunity for everyone. 

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