2007 – Book – The Last Chance Millionaire: It’s Not Too Late to Become Wealthy
Doug Thorburn
2007 – Elder Abuse and Lunch Seminars for Senior Citizens, Issue #31 Winter 2007-2008, by Doug Thorburn – 6p
2007 – Book Review – Missed Fortune 101, by Doug Andrew’s – Review by Doug Thorburn – [link]
Every flimflam man knows that the con must be carefully layered around a kernel of truth for credibility. Missed Fortune 101by Doug Andrew succeeds in this by wrapping a number of preposterous ideas and prevarications around four basic and true axioms.
They are: (1) income is taxed in what are essentially “chunks,” (2) the only relevant tax rate for decision making is the marginal rate, (3) tremendous wealth can be created by borrowing at one rate and investing at a higher rate, and (4) universal life insurance can be a valid investment by which to build wealth and a tax-free income stream. Everything else in this book is not only utter nonsense, but potentially lethal to one’s financial health.
02:53 00 – Van Mueller – I’ve trained with Missed Fortune – [Doug Andrew]- etc .- I can’t think of them right now. Problem with all these things is that they are all too complex. “They sell complexity so they can charge you a Big Price to buy their program. Most people think of all of these things as bad things.”
28 – Doug – with UL you are self-insuring, 15 years, option 1, max fund it, the cost of insurance is next to nothing.
Garrett – he’s saying the companys are being duped.
Garrett and Chris – MEC Issues, Legal Line, 5 pay, up to the guideline, it illustrates really well, but not the actual performance, COI, NAAR, what have companies done in the past, show us an inforce illustration,
30 – Doug – Life Insurance = Sacred Cow, 1980 – UL wasn’t created by an insurance company, it was created by a – EF Hutton,
7 – chris – iul = fraud, patrick kelly – tax free retirement, people vs product,
9 – chris – don’t know what you don’t know. fraudulent components, 11 – i don’t want to manipulate people,
16 – transameria parent – higher commissions
29 – oneamerica – iul white paper –
37 – how iul works – math – 1913, federal reserve, banking cartels, whole life insurance, tax rules, wealthy people, doug andrews tamra, tefra, defra….
59 – Doug Andrews – Cry Baby – listening to him almost made me puke. Think like a bank. Double your money in 7.5 years. predictable 8%. There’s lies and half truths.