Fri, 10 May 2019
1191: Pension Ponzi Schemes, Asset Inflation, War On The Middle Class, Bernie Madoff, Market Cycles, American Greed with Pat Donohoe
Today's Flash Back Friday comes from Episode 872, originally published in August 2017.
Jason welcomes Patrick Donohoe of The Wealth Standard Podcast to discuss the dirty details of pensions, insurance policies and Ponzi schemes. Jason describes the difficulties and common mistakes average retail investors make when investing in financial services. And, Pat gives a comprehensive overview of how to make the most of your existing policies in order to invest your money in the most historically-proven asset class, income property.
[02:25] Is the US a giant Ponzi scheme?
[05:31] Understanding the difference between pension benefit plans and contribution plans is essential.
[15:15] The financial service industry preys on retail investors.
[20:49] Harry Markopolos is waiting to capitalize on a market correction.
[27:09] Analyzing the patterns and mistakes of the middle-class investor.
[35:27] The Wealth Standard Podcast focuses on helping individuals understand the comprehensive nature of the economy.
[37:49] Pat explains how policyholders can reduce their risk and get investment money for cash-flow properties.
Mentioned in This Episode:
Thu, 9 May 2019
Jason Hartman and Adam start off today's show talking about the topic of the news today: Trump's billion dollar "loss" over a 10 year period. What the media fails to mention throughout the whole thing is that he didn't actually LOSE any of that money, he simply had massive deductions thanks to the beauty of real estate phantom deductions.
Then Jason talks with Steve Jones, CEO of Allied Universal and author of the book No Off Season: The Constant Pursuit of More, about how his career in sports translated into business success. Steve and Jason look at the various skills learned in sports and how can each be applied to the business world, whether you're an employee or employer.
[2:55] People are horribly off target thinking Trump is a "Billion Dollar Loser"
[5:21] Real estate deductions run on a depreciation schedule
[9:37] Real estate offers you a tax deduction you can't get any other way
[11:44] How property tax states are able to increase their revenue through land value
Steve Jones Interview:
[18:16] Your ability to overcome obstacles is going to make or break your success
[21:05] Sports teaches you how to work as a team
[24:10] Some techniques on how to keep the team cohesive when dealing with adversity
[27:49] With no action steps in place you only have a dream, not a plan