Informative workshop dinner meeting seeks to shed light on the revolutionary financial strategies pioneered by best-selling author, Douglas Andrew.

IRVINE, Calif. – The Irvine based organization, The Southern California Missed Fortune 101 Meetup Group, has calendered 6:30PM, Tuesday, March 31, 2009 as the date for its upcoming monthly dinner workshop.

The principles behind Douglas Andrew’s best-selling financial books Missed Fortune, Missed Fortune 101, and The Last Chance Millionaire have created a new revolutionary trend in retirement planning, debt management and wealth accumulation.

The complex points of this powerful strategy have often been misinterpreted and erroneously recommended by well-meaning financial professionals who are not privy to the financial planning concepts behind this strategy.

To address those concerns, this unique group has scheduled free monthly dinner workshops in the City of Irvine to elucidate the basic principles. More importantly, the monthly meetings will also help individuals and families determine whether or not such a financial design would be appropriate for them.

The workshops and its teaching are especially designed for IRA , 401(k), 403(b) and other qualified plan participants, homeowners, those desiring financial independence and retirees alike. All of whom will learn basic financial principles that even their own financial advisors may not be familiar with.

Attendance at the monthly workshop is free and organizers seek to create a relaxed no hard sale atmosphere. However, reservations are essential and the exact location of the meetings will be provided upon successful registration.

For further information or to view additional dates please visit http://www.meetup.com/missedfortune or call (866) 416-0555.

New York Times bestselling author, Douglas Andrew, pointed something out recently on his blog:

“There’s a nasty surprise awaiting those who think this way.  If you are expecting a pension, and you add Social Security and a piece of a qualified plan such as an IRA or 401(k) to it, your taxable income as a retiree probably will be as high as it was before you retired. But you will have fewer tax deductions to offset that income, because you will no longer be putting money into those tax-deferred IRAs or 401(k)s.”

To read more, click here.

Douglas Andrew (pictured here) seems to count himself amongst those who believe that the average American can find financial security and growth even in today’s economic quagmire. He explains, in his books and in his lectures on money management, how to invest utilizing home, liquidity and government mortgage tax benefits. Refinancing mortgages and conservative investment are the keys to his money management strategy.

While Mr. Andrew spells out a clear money management plan for a healthy financial future, it isn’t necessarily the approach for everyone. There are many money managers and economic analysts who would advise against some of the key ingredients of Mr. Andrew’s financial plan. For example, Ms. Suzy Orman is known for her advisement to pay off one’s mortgage quickly. This is counter to Mr. Andrew’s plan, which utilizes home equity alongside the tax advantage given to mortgage payments.

There is no simple solution for everyone. There is a standard cautionary note that all responsible financial planners will give to any individual seeking money management. They will state that all investments require research before making them, a solid understanding of the investment plan that she or he is entering into, and that more than money issues must be brought to bear. That is to say, for some, living with the knowledge that one’s house is fully paid off provides a greater personal benefit than the worry often associated with a mortgage and certain investments. Of course, with the type of conservative investment that Mr. Andrew discusses, his money management plan has understandable appeal, especially in today’s economic climate.

Amidst all that happened in 2008, some may consider the glass half empty and shrivel up in defeat. As for those who prefer to see the glass half full, there are a few opportunities they might consider taking swift action on.

For those who have been sitting on the fence in converting their IRA to a Roth IRA, now may be a good time to do it. If you have been investing your IRA in the stock market, chances are you probably lost a great deal of value in your IRA.

So if your $100,000 IRA went down to $60,000, upon conversion to a Roth IRA, only $60,000 will be included in your income taxes for this year. If you are play your cards right and grow that $60,000 back to $100,000 under the converted Roth IRA over time, your growth could be tax free and the taxes you would have paid upon conversion was based on the lower value of the IRA ($60,000 vs. $100,000).

Some financial advisors would argue that perhaps it is better to wait for 2010 before converting your IRA to a Roth. By then, you could possibly pay the taxes on the conversion over a 2 year spread. While this is true, it is also uncertain how much your IRA will be worth at that time.

The bottom line is that everyone has a unique financial situation. Always seek the help of a qualified professional prior making any financial decisions.

To be an American used to be synonymous with being someone who spent frivolously, took out large loans, and never saved.  Not so, anymore.

The barrage of bad economic news has really inspired Americans to go back the ideals of self-sufficiency that took root in the Great Depression. With many people seeing their 401Ks tank, their jobs disappear, and the cost of everything rising astronomically, people realize that they have to take matters into their own hands to survive what could be a perfect economic storm. 

Primarily, Americans are shifting their lifestyle and embracing frugality and self-sufficiency. Some changes in personal finance habits that are helping to reshape the American psyche are:

• Driving Less – Yes, the gas prices finally killed the American love affair with large, gas-guzzling, cars. Not only that, but many people have re-discovered the joys of walking and bike riding. As gas prices come down, this habit, once established will most likely not be changed. So, Americans have become more frugal with their driving habits and gas costs.

• Eating In More – Restaurants are struggling during these times as people opt to stay in and cook more at home. This can produce savings of several hundred dollars a month, depending on how often you eat out.

• Shopping Less – People aren’t just putting off major purchases, but also small trips to the mall. While consumerism is the backbone of capitalism, the new ideals of frugality and the high cost of everything is putting a damper on this habit too.

• Reducing Debt – The loans taken out earlier are now coming home to roost. Those that can pay off loans that have increasing interest rates are doing so. The money they save on those monthly payments can then be stashed away for an emergency fund.

• Stashing Cash – Some people are finding that the safest place for their money is at home. Sales of safes and home security systems have increased substantially. However, it’s still not wise to have too much money in the house.

• Emergency Credit – Loans are still essential when an emergency hits. Having access to unconventional forms of credit, like a payday loan, can be helpful when you have an emergency like a refrigerator blows out or the tires need replacing on your car.

Informative dinner meeting seeks to shed light on the revolutionary financial strategies pioneered by best-selling author, Douglas Andrew.

IRVINE, Calif. – The Irvine based organization, The Southern California Missed Fortune 101 Meetup Group, has calendered 6:30PM, Tuesday, February 17, 2009 as the date for its upcoming monthly dinner workshop.

The principles behind Douglas Andrew’s best-selling financial books Missed Fortune, Missed Fortune 101, and The Last Chance Millionaire have created a new revolutionary trend in retirement planning, debt management and wealth accumulation.

The complex points of this powerful strategy have often been misinterpreted and erroneously recommended by well-meaning financial professionals who are not privy to the financial planning concepts behind this strategy.

To address those concerns, this unique group has scheduled free monthly dinner workshops in the City of Irvine to elucidate the basic principles. More importantly, the monthly meetings will also help individuals and families determine whether or not such a financial design would be appropriate for them.

The workshops and its teaching are especially designed for IRA , 401(k), 403(b) and other qualified plan participants, homeowners, those desiring financial independence and retirees alike. All of whom will learn basic financial principles that even their own financial advisors may not be familiar with.

Attendance at the monthly workshop is free and organizers seek to create a relaxed no hard sale atmosphere. However, reservations are essential and the exact location of the meetings will be provided upon successful registration.

For further information please visit http://www.meetup.com/missedfortune or call (866) 416-0555.

The question is… now what? Will you continue to sit on that cash until the market goes back up to its high levels and then invest back into the market at that point? Or will you just sit on that cash forever?

If you’re objective is for the long haul and you understand the stock market enough to know that it will eventually rebound, then perhaps it may be a good idea to talk to your broker about “dollar cost averaging” back into the market over the next year or so.

This is a cautious strategy to gradually get back into the market and take advantage of today’s low values. By taking 5% to 10% of your portfolio and systematically investing that every month over a period of time, you have taken the guesswork out of investing back into the market.

The bottom line is that if you were lucky enough to have evaded the stock market crash of 2008, you can’t sit on the sidelines and ignore the opportunities this has presented to you. Be more pro-active with your finances and carefully examine your options.

A word of caution… today’s stock market is not for the faint hearted. If you are not comfortable with fluctuations in the market but would still like to take advantage of the upswings in the market without participating in the downswings while having your principal guaranteed at the same time, then perhaps you want to look into certain insurance products that will offer that kind of safety and return.