Letters That Make My Day

Hi Terry,

I wrote you several years ago about being let go during the "restructuring" of the company I worked for, which left 55,000 employees without a job, no shares, and no retirement funds. I remember you advised me to go on a budget, cut my expenses, where possible, and to payoff my credit cards. I am so glad I followed your advise. I see now where the economy is going and it does scare me. But, at least I have no debt and by staying within my budget I am making it. I also remember your saying: "If you cannot afford it, don't buy it." Good sound advice from an expert--I hope all your fans are listening. Thank you.

AM

It was just two years ago that I picked up and delved into your books; and I must tell you how grateful I am to you for all of your insight. While I'm not, nor ever will be financially wealthy, thanks to you I feel empowered as a result of the valuable information that you've shared. To my mind, one cannot put a price tag on that. Thank you.

Sincerely,
George

SOCIAL SECURITY CHANGE FOR 2008

I HEREWITH FIRMLY STATE THAT I WILL NOT VOTE FOR ANY POLITICIAN, REGARDLESS OF THE OTHER ISSUES, IF HE DOES NOT SPONSOR AND SUPPORT THE FOLLOWING LEGISLATION. THAT INCLUDES EVERYONE STANDING FOR ELECTION IN 2008.

LET US SHOW OUR LEADERS IN WASHINGTON "PEOPLE POWER" AND THE POWER OF THE INTERNET. LET ME KNOW IF YOU ARE WITH ME ON THIS BY FORWARDING TO EVERYONE IN YOUR ADDRESS BOOK.

IT DOESN'T MATTER IF YOU ARE REPUBLICAN OR DEMOCRAT!

KEEP IT GOING!!!!

2008 Election Issue !!

GET A BILL STARTED TO PLACE ALL POLITICIANS ON SOC. SEC.

This must be an issue in "2008" Please! Keep it going.

SOCIAL SECURITY:

(This is worth reading. It is short and to the point.)

Perhaps we are asking the wrong questions during election years.

Our Senators and Congresswomen do not pay into Social Security and, of course, they do not collect from it.

You see, Social Security benefits were not suitable for persons of their rare elevation in society. They felt they should have a special plan for themselves. So, many years ago they voted in their own benefit plan.

In more recent years, no congressperson has felt the need to change it. After all, it is a great plan.

For all practical purposes their plan works like this:

When they retire, they continue to draw the same pay until they die.

Except it may increase from time to time for cost of living adjustments..

For example, Senator Byrd and Congressman White and their wives may expect to draw $7,800,000.00 (that's Seven Million, Eight-Hundred Thousand Dollars), with their wives drawing $275,000.00 during the last years of their lives.

This is calculated on an average life span for each of those two Dignitaries.

Younger Dignitaries who retire at an early age, will receive much more during the rest of their lives.

Their cost for this excellent plan is $0.00. NADA..! ZILCH...

This little perk they voted for themselves is free to them. You and I pick up the tab for this plan. The funds for this fine retirement plan come directly from the General Funds;

"OUR TAX DOLLARS AT WORK "!

From our own Social Security Plan, which you and I pay (or have paid) into, every payday until we retire (which amount is matched by our employer). We can expect to get an average of $1,000 per month after retirement.

Or, in other words, we would have to collect our average of $1,000 monthly benefits for 68 years and one (1) month to equal Senator! Bill Bradley's benefits!

Social Security could be very good if only one small change were made.

That change would be to:

Jerk the Golden Fleece Retirement Plan from under the Senators and Congressmen. Put them into the Social Security plan with the rest of us

Then sit back.....

And see how fast they would fix it.

If enough people receive this, maybe a seed of awareness will be planted and maybe good changes will evolve.

How many people CAN you send this to?

Better yet......how many people WILL you send this to?

Terry,

I don't know if you remember or not - but when our company first started a profit
sharing plan, you came to our office and spoke to us. You gave us all a nice pep
talk about what a great opportunity this was to save money for retirement. Based on your visit, I started with $125/per pay check deducted going towards the plan.

We are now closing out the plan (I think it's been going for approx. 15 years) and I am now rolling over almost $210,000. to an IRA. I remember how hard it was at the beginning to NOT get that $125 each paycheck, and now I can't believe that at 46 years old, I actually have the beginnings of a nest egg to build on for retirement. You told us that it's easy to go out and spend money on new furniture, clothes, whatever, but it just makes sense to put it away for the future. That's what I did, and boy am I glad! Anyway, I wanted to thank you for your little speech - it was great advice!

Julie

Terry

Thank you for writing the article on long term care - its important that this insurance be bought at an early age - my wife and I bought LTCi when we were in our mid 40's - my wife since then has become an insulin dependent diabetic and would have a real hard time getting the insurance now - also by buying it at younger age and at a less expensive premium it helps in a persons retirement income budgeting process later on - its alot easier to budget for a premium that is maybe a third to half as much as it would be if you waited til 65 to buy the policy -if you were still insurable! - now the reason why its really more expensive then you indicated in the article is that the daily benefit that you buy today would have to be adjusted for inflation if you wait to buy it 10 yrs from now - which really increases the expense - you also take the chance that you could lose your preferred discount cause you now have high blood pressure - or some other ailment that doesn't necessarily make you uninsurable but knocks you out of the preferred discount - like I always say once you hit 50 your out of your warranty and anything can happen to you health wise! - again thanks for article!!

Jack Stayer, CLU, ChFC, CLTC
White Sand Lake, Lac du Flambeau, WI

Hi Terry!
I hope all is going well for you!
I pray that you have a WONDERFUL NEW YEAR!

I got another credit card paid off the beginning of this year, and we have enough to pay off 1/2 of the Chase one next month. It is our largest credit card left. But, we still have some big ones to go. Slowly... but surely... we are getting there. We've paid off over $45,000 since we made the decision to really work towards getting out of debt.... We still have a long way to go.... but, it is good to see that we are making progress. I have a spread sheet that I fill out each month, so that we can see that we are making progress.

Note: The letter above came from a woman who contacted me almost two years ago. She's living proof that you can manage your debt and work your way out of trouble!