Longboat Retirement Solutions LLC

Your 401k Stinks April 5, 2016

 

Why You Lost Money Today February 12, 2016

When the market as a whole goes down, people who own mutual funds that are “diversified” lose money (in general).  This includes most people who have an IRA or 401k through their employer, due to the fact that most institutional IRA’s or 401k’s are invested in mutual funds.

A true self directed retirement account lets you invest in individual stocks, precious metals, real estate, foreign markets, and more.

Large institutional banks advertise that they offer self directed accounts.  This is a sham.  These supposed self directed accounts only allow you to buy products that the bank that set it up for you sells – so that they can make money off of selling that product.  To me this represents a break in fiduciary responsibilities.

A Chevy dealer does not want to sell you a new Ford, even if the new Ford has better fuel mileage, better reliability, and costs less.  The Chevy dealer will sell you a Chevy, because that’s how he makes money – he makes a commission off of every Chevy he sells.  In fact the Chevy salesman is not allowed to sell a new Ford.

Similarly, a Fidelity guy will only sell products that he makes a commission off of – Fidelity products.  There may be an investment that he knows is a better fit for you, but if he makes no commission off of that sale, he won’t sell it.  In fact the Fidelity salesman (lets call him what he is) is not allowed to sell you a competitor’s product.

You are the only person in the world who has your best interest in mind when making decisions.  You may not always be right, but at least you are not trying to skim a small percentage of your savings, under the guise of “managing” it.

 

Why Asset Allocation Doesn’t Matter In The Long Run June 27, 2015

 

Sitting on The Fence May 9, 2015

Do you consider yourself a market timer?

Are you a market maker?

Do you know when the next market crash will happen?

Can you call the peak?

Do you have insider information regarding when Goldman Sachs will pull the carpet from under the U.S. stock market?

Is Janet Yellen your cousin?  Does she give you tips?

If your answer is no to all of these questions, then why aren’t you taking this opportunity to divorce yourself from this bubble while it’s still inflated?

It is amazing to me that more people are not taking this amazing opportunity to take profits, and instead are electing to roll the dice on market timing or give the keys to their future to some guy who has no stake in their success.

I know that I should not be surprised, as history seems to repeat itself every 7 to 10 years these days.  People have exceedingly short memories and attention spans that can only be measured in milliseconds.

I really don’t want to be that guy who said “I told you so”…or “I tried to tell you”.  I get no joy in hearing sob stories about how people waited too long and got wiped out by the debt tsunami.

The current market value has no basis in reality.  When it goes pop, it is going to destroy the retirement of millions of Americans who blindly followed the pundits on CNBC.

Please, Americans, spend more time thinking about your future and less time getting re-educated by mass media.

Lars Forsberg
Longboat Retirement Solutions LLC
406-551-4775
www.myselfdirectedretirement.com

Call for a FREE consultation

 

How Does Your Investment Advisor Make Money? March 8, 2015

Longboat Retirement facilitates the creation and initial set up of Self Directed IRA’s and Solo 401k’s.

We don’t push investment schemes, make investment recommendations, or sell financial products.  We do not give tax or legal advice.

This makes us truly independent.  We have no interest in making commission on the sale of any financial or investment products.  We don’t charge fees based on “assets under management” because we do not manage people’s assets.

Our interest is strictly helping our clients achieve control of their retirement and their future.

Lars Forsberg

http://www.myselfdirectedretirement.com

406-551-4775

Little Red Viking copy

 

Why do People Continue to Give the Wall Street Criminals Their Money? February 11, 2015

Anytime I talk to people in random social situations and the conversation veers towards finances, I hear the same mantra: “All of the bankers are a bunch of crooks!”  To that I reply: “Why do you continue to give them your money?”

The initial response invariably is that they have no choice, their employer has their 401k managed by Fidelity or TD Ameritrade or Edward Jones, or any of the other big banks.  Of course this is incorrect.  They do not need to leave their money with the big crooks, whoops, I mean banks, in most cases.

The other common thing that I see all the time is people spending more time analyzing the pros and cons of a particular TV set or internet provider than their retirement plan.  This is crazy, but such is the nature of the human mind.  We spend too much time concerned with trivial things and too little with life’s most important decisions.

So, to answer my own question: “Why do people continue to give the Wall Street criminals their money?” – because they lack the knowledge that they have a choice, and they lack the fortitude to face the real issues that affect their future.

I may sound harsh in my analysis, but I can come to no other conclusion.

Certainly the big media propaganda and collusion plays a factor.  After all, big media gets paid big bucks by the big banks to put out investment “news” that paints a rosy picture of the stock market and the associated banks.

The herd mentality doesn’t help, nor does the mindset of “Oh yeah, most investment advisors are nothing more than used car salesmen, but my broker is great!”  That’s the same state of mind that gets us the same representatives in congress elected cycle after cycle, even thought these guys and gals have a 16% approval rate.

How can this be?  Congress has a 16% approval rate, and Wall Street banks continue to get wacked with hundreds of millions in fines for duping investors, yet the same clowns will get re-elected to congress and the same criminals will continue to live in mansions on the hill while stealing from old ladies’ retirement funds.

Please, pull your head out of the sand and explore the options you have, and for Pete’s sake don’t re-elect someone or give them your life’s savings just because their name sounds familiar!

 

General Smedley Butler, USMC, Shedding Some Light on the Military Industrial Complex November 23, 2012

“I spent 33 years and four months in active military service and during that period I spent most of my time as a high class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1902-1912. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents.” General Smedley Butler, USMC