DebtFreeGuru.com's - Tip of the Week - Monday, July 5, 2004
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This is going to be a unique Tip this week as I have a number of things I would ask you to consider, also please forward this to EVERYONE you know:
I rarely ask for your prayers however I am compelled to do so for a few situations:
First, my good friend Charlie's sister, Carol, 45, of Boston, MA, has recently discover that she has Spindle Cell Cancer. Please pray that this has been caught at Stage 1A, of the most favorable prognosis and that her recovery is quick and complete. Carol has two young children, I believe around 5 and 7, a husband who is a CPA, all of who have been devastated by this unexpected diagnosis.
Second, for my daughter Jennifer, 19, of Wilmington, NC, who appears to be struggling with crack cocaine addiction? While she is in total denial of this, there are many circumstances that are pointing this way. She is hanging around with known crack dealers and users, disappears for long periods of time, has already plead guilty to 5 felonies for credit card fraud with a 30 month suspended sentence and now is being investigated for two other felonies of which she is likely guilty, and has begun working as a stripper and for an escort service.
Please pray for Jennifer's finding that she has hit rock bottom, for her to reach out to those who love her for help and that she recover from this terribly disabling addiction.
And finally for me, the love and light of my life, soul-mate, and partner, recently decided to end our relationship of almost 3 years and I am truly heart broken.
Please pray that I am able to keep my heart open to her, to not judge her or be angry for her decision and the reasons underlying it, that I am able to heal without closing my heart to others, and that I am able to always welcome her in my life in the future if she so decides, that I forgive her and bless her on her way and that I find all that I desire in my life.
And for my love, Bev, as she struggles with the decisions she feels compelled to make, the sadness she has that accompanies those decisions, for guidance in making choices for "her" highest and greatest good and not that of others, and that she find all the happiness, joy, bliss and prosperity that she deserves and is certainly worthy of.
"People so seldom say "I Love You" and then its either too late or love goes. So when I tell you "I Love You", it doesn't mean I know you'll never go, only that I wish you didn't have too." - Lawrence Craig Green
Thank you for your love, support and prayers for the above situations. - Love & Light, John
Dear John:
I just wanted to let you know that I have been quite successful with your program! I attended your workshop in August of 2000. I was incredibly in debt due to divorce in which the judge ordered me to pay my ex-husband's bills for years even AFTER we were divorced! I made HIS own PERSONAL credit card payments, car payment, house payment, etc. (and tried to pay my own bills).
When I went to your workshop I was feeling very overwhelmed and that I would never get out of debt. (It was even more overwhelming when I listed all of my debt, it wouldn't fit on one page!
To make a long story short, after attending your workshop I was able to develop a plan and put it into action. I bought a car and paid for it.
I now have bought a house, and the only payment I have besides utilities, groceries and house payment/insurance is one credit card left with a total of $2124 and I plan to have it paid off by December.
Thank you so much for sharing your knowledge! You could have never known how much you changed my life. So, I'm writing to let you know that I am truly blessed by your "gift". I am so thankful that I took that first step and came to your workshop!
I hope others take advantage of the wisdom and knowledge you share in your workshop. They need to take the first step. What have they got to lose, but the joy of being debt free and happy!!!
Thank you again and God bless you!
Sincerely, Colleen
(Colleen attended a workshop at Unity in St. Joseph, MO in September of 2000 - John)
I wanted to share with you some of my concerns regarding the current investment climate.
As most of you know the Federal Reserve Bank recently raised the Federal Funds Rate by .25% in order to stave off inflation that many of the indicators were beginning to signal.
When interest rates rise, interest sensitive investments such as bonds or preferred stocks begin to decrease in value in order to attract buyers. Additionally, if interest rates continue to rise, equities or stock, begin to loose value because companies have to pay more for the money they are using from the credit markets and as a result have lower profits, thus lower values.
The Federal Reserve Bank is projecting growth at around 4.8% which is fairly robust and may feel it is prudent to continue to tighten credit markets.
Also, I have noticed several articles posted around the web from some the mutual funds saying that even though stocks and bonds traditionally fall in value when interest rates rise, that we somehow should believe that it won't happen this time and keep our money invested with them. Of course these are the same mutual funds that kept us invested during the last downturn thus causing millions to defer retirement.
So due to the uncertainty of the economy I believe it would be prudent to move your money from stocks or bonds and into money market accounts until interest rates and the economy stabilize. Once this occurs then this would be a good time to reenter the markets.
Another concern I have that could be disastrous to the markets and the US economy is the strong possibility of another MAJOR terrorist attack in the US.
Now I realize that due to the nature of this unique World War that the possibility of additional attacks domestically may be around for many years to come. However, that due to the recent success that terrorists have had in Spain. Using terror to manipulate the outcome of Spanish elections, changing the results from the current government that supported the fight against terror who held a major lead in the polls, to electing the Socialist Party to a majority who ran on a platform of not participating in the war on terror and had lagged in the polls until just days after the major attacks in that country. There is a STRONG possibility that they may attempt to do the same thing in the US shortly before the Presidential elections in November.
In the days that followed 911, the indexes dropped 10 to 25 percent and while they recovered to pre 911 levels in about 60 days, 911 had a long-term effect on the economy. The indexes dropped 30 to 45 percent by the end of the third quarter of 2002 and have only recently recovered to pre 911 levels.
With this in mind I think it is wise to liquidate ALL of your investment positions in the markets and move the money into money market accounts until we are a bit more certain as to what may be happening in both the economy and the war on terror.
Now this does not mean to "cash in" your qualified plans which would cause you to pay tax penalties, but to move the money within those plans into lower risk. Most qualified plans have a "money market" type of investment within them or available to them.
Keep in mind when you attempt to move these monies to lower risk, there may be professionals who attempt to talk you out of it. Keep in mind that in most cases they have a vested interest in you keeping your money invested because their fees are DRAMATICALLY LOWER from money market accounts than from the investment accounts.
While I am not a stock broker, registered investment advisor or economist and that the above not be considered as investment advice, this is who I am treating my own monies.
While we might miss a couple of percentage points in upside potential if I am wrong, we will avoid dramatic losses if I am right.
DebtFreeGuru.com - Tip of the Week - Monday, July 5, 2004
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