In this episode, I'm going to teach you about MECs or Modified Endowment Contracts. With two main uses, I'm going to show the really fun one which is how to use a MEC to earn 8-12% on your emergency fund money. There is no longer any reason to leave tens of thousands of dollars in the bank making 0-1%.
The bad guys have trained the entire world to look for what's WRONG with every financial product: this will crush your retirement. There's no one food that will give you everything you need nutritionally and there's no one tool that is all you need to build an entire house. Finances are the same. There is no one tool that you need for retirement, but rather many different tools. The bad guys say all you need is securities and THEY ARE WRONG!
In this episode I cover the three pillars of financial deception that this industry uses to steel money from you and keep you doing what they want. You may get upset because these are three very sacred cows. I studied all three and do not agree with any of them. Listen to find out why. The three pillars of financial deception are: 1) You should pay off your mortgage 2) You should postpone taxes to a later date 3) You should use a diversified portfolio of stocks, bonds and mutual funds.