The amount of money that we’ve printed over the course of the past year and what we’ll print in 2021 is equivalent to the entire economy of Japan.
Van Mueller believes that at some point in the future the US dollar will no longer be the reserve currency, and when that happens the standard of living for Americans will go down almost immediately.
Every country is printing money and destroying their currency’s purchasing power, but the US is doing it on a scale that’s unheard of.
If you talk with the right specialist, they can show you a strategy where you won’t be hurt by these economic shifts.
Leadership is the key missing factor in solving these problems. If we had politicians that were willing to make tough decisions we could salvage our country but those are few are far between, and people need to elect the ones that show leadership.
There is no end of the world situation. Eventually, the US will fix everything, either through great leadership or a great calamity. For the people that don’t strategize and plan for the upcoming changes, they will have a lower standard of living. If you want a better standard of living you need to plan now.
The debt will never be paid back and we can make a number of assumptions from that. The government will do everything they can to keep interest rates low and there will likely be a ton of volatility in the markets over the next ten years.
There are products and strategies that allow you to win in any circumstance, but you have to take the time to build these strategies or these forces will destroy everything you’ve worked for.
Studies have shown that 93% of Americans take Social Security to their detriment instead of their benefit. If the goal is to maximize retirement income you should be maximizing your Social Security. There are all kinds of planning opportunities if you understand the right questions to ask.
If you really want to know how long you’re going to live, go through the life insurance underwriting process.
Almost everyone is willing to have the conversation of how to keep their wealth to their family’s benefit instead of sending it to the government, a hospital, or a nursing home.
Based on the math, if you’re married and don’t do any planning, and you have two children, if you both pass away the IRS is going to be the primary beneficiary of your money and not your children.
99% of Americans don’t understand tax law and don’t realize the government’s need for revenue in the future, and if they don’t plan for that there are going to be a lot of people’s hopes and dreams decimated by that.
If you’re an advisor, talk to your dry cleaner, your mechanic, and anyone that you know and ask them some simple questions because chances are they have no idea what’s coming.
This is the greatest time ever to be an insurance or financial professional. This is also the greatest time ever to own cash value life insurance. There is nothing else that can compete based on what the American government is about to do to people.
Mentioned in this Episode:
Van Mueller’s newsletter and audio training for financial advisors can be found at vanmueller.com
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