The United States Government Cannot Print Money

Did you know that? The United States Government cannot print its own money. It borrows money as a loan from the Federal Reserve, which is a private bank with its own investors. The thing with the Federal Reserve is that it is the only bank that can print money, so there is absolutely no possible way that our government can pay back the loan.

There are billions of dollars in circulation, but for the sake of this discussion let’s say that there is just 1 billion dollars currently printed in the US. To get that money printed under the current system, the US government had to borrow the money from the Federal Reserve which can print however much they want because it isn’t actually backed by anything. Let’s even say that Government got the loan at an extremely low interest rate and only has to pay $10 interest on it every year. Once they took possession of the money, the US government will never be able to pay off that loan because all that exists is that 1 billion dollars. The only way to get the additional $10 is to borrow more money from the Federal Reserve. It creates a never ending cycle of expanding debt owed to a handful of private citizens.

That is what they mean when you hear people say that we have a debt-based economy. All of the “money” that we use in the US every day is actually a piece of the debt that our Federal Government owes to the Federal Reserve.

Now that the US government has doubled the amount of currency in the market in the past 24 months, some experts are saying that the system is nearing the point of collapse.

In case you haven’t heard yet, Mike Dillard is hosting a webinar about this and other things that are going on with the economy right now and what he is doing to protect his money. The best thing that you can do for yourself right now is get the information about what is going on so that you can make some educated decisions about what to do for yourself.

Wayne Woodworth

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Is The Financial System Set Up to Collapse?

I watched a video that Mike Dillard created to launch his new program, The Elevation Group. In that video he makes many interesting points, and here is one of them that really stands out.

He states that when people reach retirement age, 65, they are required to start withdrawing 6% of their 401k. A financial advisor friend of mine told me that his numbers are wrong, it is actually about 3% at age 70.5. Either way, the point is still valid.

What this could mean as the Baby Boomer generation passes through the age at which they are required to start taking money out, a large number of stock shares are going to be sold on a regular basis, increasing the number of shares of these stocks available on the market. The Law of Supply and Demand states that as this supply increases, the price of these stock shares will fall.

The Baby Boomers right now range somewhere between 46 years old up to 64 years old based on the definition that Baby Boomers were born between 1946 and 1964. The oldest of this generation will have to start pulling out their 401k  and IRA dollars in just 6 years.

As they start to pull out their money, as I said, the stock prices could fall because there will be more shares available and there aren’t enough people in the younger generations to buy them up with their 401k and IRA investments. As this happens, the people at the younger end of the generation will see their retirement funds start to just evaporate into thin air. A more extreme result could be a stock market crash. Kind of scary.

I guess my parents are lucky to be in the older half of that generation.

Mike Dillard is offering a new program to make the financial practices of the wealthy available to people like you and me. That’s what The Elevation Group is about. Register for the webinar here and see what else Mike Dillard has to say.

Disclaimer: I am not a financial advisor and I do not closely watch the financial markets. I cannot and will not tell you what you should do with your money. I just found this interesting and thought I’d share. Check with a real financial advisor to see how this might affect you.

Wayne Woodworth

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You Can Create Your Own Bank

This post is about personal financial matters so I want to be very clear right here that I am not a financial advisor and cannot give you financial advice. Honestly, I’m not even going to tell you directly how to do this, just how to find out how to do this.

Mike Dillard recently launched a new business called The Elevation Group where he is making critical financial training available to everyone who wants to participate. One of the things that he talks about is the benefits of creating your own personal bank. Sounds intriguing, doesn’t it?

Mike Dillard says it gets better.

He said that if you do it right, your personal bank can earn 6% or more tax free. Unlike a 401k or other retirement plan, you can invest as much money as you want and you can withdraw as much as you want tax free and without penalty.

This is one of the ways that the wealthy protect their money into their retirement years. Dillard says that he is learning this technique from the same financial advisor who set one up for Donald Trump.

You can learn how to do this the same way that I am. Just watch this short video and register for the webinar that Mike Dillard will be hosting about the current global financial situation and introduce The Elevation Group.

Wayne Woodworth

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Tax Time Again

It is April 15th again and time to hurry to get your income tax return to post office in time to get today’s stamp on it. Actually, I filed my tax return back in February, but April 15th is another tax deadline for those of us who are self-employed. It is time to file our First Quarter Estimated Taxes.

On April 15th we get to see both how close last year’s guess was to how much we actually made last year and we get to make our best guess to how much we will make this year. It can be a challenge because the IRS and the state revenue departments want 4 equal estimated tax payments on April 15, June 15, September 15, and January 18.

It still beats being an employee though and having someone else decide how much money comes out of your paycheck every week. My quarterly tax payments are based on income less expenses instead of just income like those with paychecks have to pay, so I have to pay less in taxes than I did as an employee.

Wayne Woodworth
You can be self-employed too

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Home Based Business – A Good Reason

I met someone yesterday who has an excellent reason to look into a home-based business. She is the manager of a local department store photography studio.  The corporate office dictates the hours that her store is open without any input from her or feedback on what her customers need. She had to lay off all of her employees because the store isn’t open long enough to justify paying anyone and they aren’t making much money because the store is only open during the hours that her customers are at work. Talk about being a victim of Corporate America.

What she would like to do is go into business for herself doing photography but she’s worried that she wouldn’t be able to get enough clients. She probably also has a “no compete” clause in her contract which would make the jump to independence difficult. She also can’t go looking anywhere else for work because the people she let go are all still looking for work So she feels trapped.

A home-based business, like network marketing, could be a great opportunity for her if she has the motivation to make it work. She can do it part-time and still have time for her family and her current job, which is only part-time anyway. Once she gets going, it will help her bring in some extra money to make ends meet. Eventually she can start generating enough of an income to be able to quit the job and do the network marketing business full-time while she rides out the “no compete” period then start a part-time photography business if she still wants to. Then the network marketing income becomes the financial security for her to pursue her true passion.

Do you know anyone who is in a similar situation to this lady, or even that of her former employees? Have them read this and then at least take a look at network marketing.

Wayne Woodworth

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Responsibility – A Success Factor

Do you take responsibility for your successes and your failures?

I was listening to Bob Proctor’s Six Minutes to Success yesterday. At the point where I am in the series he is talking about the 11 characteristics of great leaders as Napolean Hill laid them out in Think and Grow Rich in the chapter on Organized Planning. In this particular video, Bob Proctor was talking about the 10th characteristic – a willingness to assume full responsibility.

There are two kinds of responsibility, being responsible to someone or something and being responsible for something. We are responsible to others,  our customers or employers for example to give our best for our compensation, but we can never be responsible for others. Neither can we hold other people responsible for us.

Bob Proctor says that responsibility is the key to freedom. If we blame others for our problems or lack of success then we make ourselves victims of things and people we cannot control. Once we take responsibility for our own actions, our own successes and failures, we have the ability to change them for the better. You can’t change the world but you can change yourself.

What would you like to improve? Finances, health, happiness. What are you going to take responsibility for today and change for the better?

Wayne Woodworth
Responsible for my own success

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Building Financial Independence with Nikken

Network MarketingDo you know how to build financial freedom? Do you know what financial freedom is?

Financial freedom is the ability to go about your life, doing what you want to do, without having to worry about money. Sounds cool and maybe too good to be true, right?

Well, it is true because I know a few people who have it. I have blogged a lot about Loral Langemeier and I believe she has financial freedom. Some other people I follow that you may have heard of, like Mike Dillard, Bob Proctor, and Joe Vitale, also have financial freedom. Closer to what I’m doing, Reid Nelson and Dave Johnson are high-ranking Nikken distributors who have achieved it.

I think that you and I should also be on that list too, don’t you?

I quit my job 3 weeks ago today, totally voluntary, so that I could focus on building my own businesses. My primary business is with Nikken, a research company originally from Japan, that offers very unique technologies to help people feel better without having to rely so heavily on drugs and surgery. My goal is to build a team that cares enough about other people to want to offer alternatives for staying healthy,  building income, and establish their own financial independence.

I had some one-on-one time recently with Reid Nelson, one of the people I mentioned above, about what he sees as our real business. He doesn’t see Nikken and network marketing as selling. Instead he describes it as building distribution networks for some amazing products and our income is earned by moving product through those networks. I have to agree with him. I can’t remember the last time that I sold any product and I still get a check every month. I have a website that sells product for me and I get rebates from the product that I buy for my own use. The people on my team buy product for themselves and I make some income from that as well. It’s really a very useful way to look at it.

If this sounds interesting to you, take a look at my product site at where you can see those amazing Nikken wellness products I mentioned. When you are satisfied that there is a real product to support a business, take a look at the Nikken business opportunity.

Wayne Woodworth
Building financial independence through distribution networks

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Put More Cash in Your Pocket

Loral Langemeier has a new book coming out on October 13th, and they are expecting it to be a best seller just like her three Millionaire Maker books are.

I’ve talked about Loral several times here, mostly about her Cash Machine Workshop live event. The reason I devote so much time to her is that she is for real. She isn’t selling a program that requires you to spend a wad of money to learn a bunch of new skills so that you can hopefully start to make a little money in a year or two. She encourages you (at the live events she pushes you) to use what you already know to start making money today. Once you are making money, then you spend the money to hire the team that will support you.

Here’s the description of the book:

Turn what you know into dough!

You Don’t have fixed potential, why accept fixed income? By following Loral’s simple and straightforward approach, you’ll put more cash – $1000 or more a month, into your pocket in no time. I’ve helped thousands of people make extra cash fast. People from all different backgrounds, in a variety of situations, all over the world. People just like you!

Get on the list to be one of the first to get the book. Click here  to Loral’s site.

In the big lead-up to the book, Loral has recorded a free 20 minute video that is all content. You can get to it by going to my PlayLikeAMillionaire site and entering your name and email address. If nothing else, it’s a great free introduction to Loral Langemeier. Go check it out.

Wayne Woodworth
Play Like a Millionaire

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The Bad Economy and the Death of the Dollar

I was looking for something to listen to and came across Robert Kiyosaki‘s audio book – Increase Your Financial IQ. It was published in March 2008 and has some very good, current information. I highly recommend it. There was some important information in the first chapter that I want to share here.

In 1971 President Nixon took the US off the gold standard, which changed how our money works. Prior to 1971, the dollar was based on gold, which has intrinsic value. To save money was equal to saving gold, so it made sense to save money for retirement or college because it would hold value.

Since 1971, the dollar is no longer money because it doesn’t have any real value backing it. It is now a currency. The word “currency” comes from the same root as “current”, like an electric current or air current. Currents require movement for them to exist. Likewise, a currency requires movement for it to maintain value.  As you can see from our current economy, as the movement of the dollar slows, the value of the dollar decreases and the economy suffers.

Historically, all currencies eventually go to zero.

Are you listening to those financial advisers who are telling people that they need to reduce their spending, pay off debt, and save for the future? If the value of our currency does go to zero, what will your savings be worth?

So, what do you do? How do you secure your financial future? I’m not a financial adviser, so I can’t tell you what to do. I can tell you what I’m doing though.

First, I’m listening to people like Robert Kiyosaki, Donald TrumpBob Proctor, and Loral Langemeier. They teach that a job is a lousy way to make money. Kiyosaki, in Rich Dad Poor Dad, said that a job is a good place to learn a new skill, then move one once it has been learned. The thing I like about these teachers is that they preach what they practice. They look for new sources of income and then use that income to buy more assets that generate even more income, and that is what they teach others to do.

Loral Langemeier, in her Millionaire Maker books and Cash Machine Workshops, teaches people how to build a business as an asset, and that’s what I am doing. To be an asset, the business has to generate a sustainable income. I am building my business in network marketing and affiliate marketing which means that I generate income by promoting products from other companies. That allows me to quickly start making money without the up-front costs of developing a new product.

Once I have a business that produces a steady stream of income, I can take that income to buy more assets that then generate more income. Those assets can be investments in other businesses, real estate, gold, gas, oil, or anything else that has a value and an income stream.

This plan doesn’t mean that you have to live without comforts. In Increase Your Financial IQ, Kiyosaki gives an example of how he bought an expensive luxury car.  He took some money out from one of his assets and invested it so that it would make more money. He gave instructions to the person who managed the investment to let him know when it had increased to the point where he could afford the car, pay the fees for managing the investment, and still have the original value of the asset left over. It took some time to accomplish it, but the car was purchased without any money from his own pocket or by decreasing his net worth. That’s a pretty cool deal, huh?

To summarize, the dollar is a currency and all currencies throughout history have eventually failed. To keep our currency alive and maintain it’s value, it has to flow, which means that saving it in a bank account isn’t the right thing to do. A better way to prepare for your future is to convert your money to assets that maintain their value and generate an income of their own. One such asset is a properly structured business, which in my case is in network marketing.

Just as a reminder, I am NOT a financial adviser. Go check out the books by Robert Kiyosaki, Donald Trump, and Loral Langemeier then find a good financial planner to help you decide what is best for you. Ask your financial planner if he or she is wealthy and if he or she got that way by doing what they are advising you to do. If they aren’t, then find another planner.

Wayne Woodworth
Network Marketing Entrepreneur

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Your Customers’ Opinions Matter

Do you have a convenient, easy way for you customers to talk to you?

One easy way to stand out from the crowd is to be responsive to your customer, so it is important there are ways for them to interact with you. This is especially important when your business is only online.  An easy way is to allow your customers to post comments on a blog or to have a contact page where they can send you a message. But that’s only half of the equation. You also have to respond. Your standing with your customers will increase immensely if you actually answer the questions and comments they have. That will help you create a relationship with your customers because you have shown that you are a real person.

For brick and mortar-type stores this is very easy because there is a sales person for your customers to interact with. In the online world there is just a webpage. As I already said, comment forms are one way to make yourself available to your customers. Social media is another great way. Your customers can become friends or fans on Facebook and they can follow you on Twitter. This works great for building a community among your customers. Don’t forget to be active in your new community.

Wayne Woodworth

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