The Best Kept Secret to Financial Freedom
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The Best Kept Secret to Financial Freedom - Robert G. Beard Jr.
Jr.
Copyright © 2017 Robert G. Beard Jr.
All rights reserved. No part of this book may be reproduced, stored, or transmitted by any means—whether auditory, graphic, mechanical, or electronic—without written permission of the author, except in the case of brief excerpts used in critical articles and reviews. Unauthorized reproduction of any part of this work is illegal and is punishable by law.
The information, ideas, and suggestions in this book are not intended to render professional advice. Before following any suggestions contained in this book, you should consult your personal accountant or other financial advisor. Neither the author nor the publisher shall be liable or responsible for any loss or damage allegedly arising as a consequence of your use or application of any information or suggestions in this book.
ISBN: 978-1-4834-7561-5 (sc)
ISBN: 978-1-4834-7562-2 (hc)
ISBN: 978-1-4834-7560-8 (e)
Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.
Cover Art Design: Jonathan James at jonathan-james.strikingly.com
Lulu Publishing Services rev. date: 9/18/2017
jeffersoniangroup.jpgThe Source for Freedom and Self-Reliant Information¹
Thomas Jefferson defined rightful liberty as unobstructed action according to our will within limits drawn around us by the equal rights of others—I do not add ‘within the limits of the law,’ because law is often but the tyrant’s will, and always so when it violates the right of an individual.
The Best Kept Secret to
Financial Freedom
By
Robert G. Beard Jr., C.P.A., C.G.M.A., J.D., LL.M.
Preamble
How would you like to become wealthy and financially independent? If you have obtained financial independence, how would you like to insure that you will maintain your financial freedom? How would you like to see your children and grandchildren obtain financial freedom early in their lives no matter what job or career they choose; and, no matter how many mistakes they make along the way? And finally, how would you like to see your parents retire without worrying about outliving their money? If you answered yes to any one of these questions, then you have come to the right place!
With over 40-years working as a Certified Public Accountant helping people start and run businesses, protect their assets, and plan for their retirement, I have seen what works and what does not. In today’s ever-changing world, when it comes to investing, the typical advice received from the financial planning community may inhibit your ability to attain financial freedom; and, cause many of you to outlive your money in your retirement years. There are several authors that agree with me.
For example, Ben Stein wrote a book entitled, How To Really Ruin Your Financial Life And Portfolio. Stein was enamored with Warren Buffet and his company Berkshire Hathaway (BRK), which became successful by investing in great businesses that pay dividends but, has never paid a dividend to his stockholders. Stein concluded that the typical investor is better off investing in low-cost index funds and avoiding the advice of brokers, money managers, and Wall Street in general. Although Stein mentioned the benefit of reinvesting dividends, it appeared to be an after-thought; he never mentioned that there are over 100 companies, U.S. Dividend Champions, that have paid and raised their annual dividends each and every year for 25 or more years in a row; or, that there are many Contenders that have paid and raised dividends for 10-to-24 years in a row. If he had known about these companies and their dividend reinvestment programs, he would have been remiss by not including this information in his book.
Why would Stein not know about these programs? Because Wall Street cannot make any money from them. Furthermore, the SEC, influenced by the power-brokers on Wall Street, have forbidden these companies from advertising their programs; and, if the average investor stumbles across them, the companies are required to send them a huge prospectus—most likely requiring an attorney or an accountant to interpret—outlining the risks and none of the benefits of their programs.
In 2017, Tony Robbins came out with a book titled, Unshakeable, Your Financial Freedom Playbook, Creating Peace of Mind in a World of Volatility. Robbins interviewed many of the Titans of Wall Street, e.g., Warren Buffet, John Bogle (founder of Vanguard Mutual Funds), and Peter Mallouk, co-author and Wealth Advisor.
Robbins makes a great argument for investing in the stock market, but, not by buying actively managed mutual funds. John Bogle, the founder of Vanguard Mutual Funds, wrote the forward and stated:
. . . index fund investors receive the gross market return minus fees as low as 0.05% … while active investors as a group will receive the same gross return minus 2% or more. . .
Over an investment lifetime, this annual difference [in fees] really adds up. Most young people just starting their careers will be investing for 60 years or more. Compounded over that time frame, the high costs of investing can confiscate an astounding 70% of your lifetime returns!