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Redneck Retirement Savings Plan-RRSP

Written by: Kendra Sullivan

Article Overview: If there is such a thing as free money then why aren't there more millionaires?

Redneck Retirement Savings Plan-RRSP

I am sure that by now you have undoubtedly noticed the excessive amount of commercials on television that boast how simple making money really can be. All you have to do is send in your old gold jewelry they will send you cash. They send you a secured envelope and a few days later they send you a cheque. Wow, can it really be that simple?

Oh how I only wish it really was.

Personally I am getting tired of not being able to turn on my T.V without seeing a silly commercial with an older large man rapping and dancing with scantily clad women in the background.

Are we supposed to take this serious? Have they no idea their ideal target market? I have heard this too good to be true offer referred to as the red neck retirement savings plan.

And doesn’t T.V land understand that I just want to watch Two and a Half Men in peace?

Got me thinking, how common is common sense? I was under the belief that people were just born with this tiny little voice in their head that pretty much guided us through life.

It was there when we were five and were sent to your room and in anger you decide to run away. Sure you pack your bags and make it to the end of the driveway, but that little voice in your head always made me never able to make it to the sidewalk.

It was there again when you were sixteen and you were at a party with older kids trying to fit in and being pressured to do things you weren’t ready to do.

Apparently not everyone is born with this instinctive little voice. So these must be the people who fall for these scams and gimmicks under the impression that this is their big break. They believe that this easy-to-come-by money will pay off their debts and they will be able to retire in style, in a brand spankin’ new doublewide, with a satellite T.V. No need to keep those old rabbit ears. They may even have enough left over to catch a Nascar race and split a case of Bud.

I realize that I might be being a tad bit harsh but I am just trying to get my point across. There are tens of millions of seemingly great opportunities out there but like anything, if it sounds too good to be true it probably is. Any kind of success worth having takes many hours of hard work as well as dedication. A great opportunity is not just going to find you. You have to be proactive in your search and stop being lazy!

To your success, Kendra Sullivan

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Article Tags: anger, belief that, cheque, commercials, common sense, few days, gold jewelry, little voice, making money, nbsp, peace, retirement savings, rsquo, scantily clad women, sidewalk, span style, target market, television, two and a half men
Referred by: http://jaykubassek.com



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Re: How do you budget your life? - Here is my financial management categories for today: 15% Long Term Savings; 10% Home Expenses; 45% Business and Marketing charges; 10% Friends (Meeting); 20$ Scientific and Law Books. But this will change when it is August or September. Orxan
Re: How do you budget your life? - I agree that the Tithe 10% and Personal Long Term Savings 10% have been the most consistent percentages for me over the years. The Richest Man in Babylon is a book that really helps nail that point. there's something subconcious about knowing that you're not just working to pay the bills. You're actually creating a long term quality lifestyle and significant retirement for you and your family. The other percentages have shifted over the years but those number have been constant.
The Double Close/Escrow - Hello, I was in business for many years and have decided to buy another. Retirement isn't what it was cracked up to be. BITD if I needed a piece of equipment or bought another business I just put up 20 percent and the bank did the rest. I have been reading about another way however and hope some of you can fill in some blanks for me. What I am reading about is the double closing which uses a swing loan and an asset lender to purchase the assets of a business to use as the down payment. As below: 1.You arrange a swing loan for the down payment amount from the bank and give this to the seller. Supposedly after the paperwork this transfers title of the business and its assets to you. 2. In another room you have a second closing set up with a asset lender who loans you the amount of the swing loan which you use to pay off the swing loan. Now the asset based lender owns the assets as collateral for his loan and the seller is owner -financing the remaining balance. Now , I get a double escrow close in real estate circles but there are a couple of things about this business purchase situation that I don't understand. If the seller of the business is owner financing it and has the first lien what is his motivation to allow his assets to be used for collateral to the asset lender? Does the asset lender take a second lien on the asset loan he has just made( the down payment)? Or does it truly mean that during the first closing where the seller received the down payment that the right to do whatever I wanted with the assets was truly transferred to me and I can now give the asset lender a first lien position? This seems very strange to me but I continue to read about it in numerous places and the methodology never varies. Again, its been awhile since I did all this and we were much simpler back then. However, even then it took an act of God and Congress for any first lien holder to give up that position. Even for a very large down payment. Any help you guys and gals could give me would be greatly appreciated. All the Best!


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