Investment analyst and author Dan Thompson shares his secrets with Newsmax TV viewers about his exclusive and innovative strategy for savvy investors to chart their own secure financial future.
It’s not about risk and return, it’s about controlling and directing all of your income, Thompson explained on his website.
“Most people will make well over a million dollars in their lifetime. It’s not how much you make its how much you keep that makes the difference," said Thompson, who has owned and managed his own investment firm since 1990.
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"How much of this million dollars that they get to save and put away will determine their future lifestyle and retirement,” he said.
For the past several years Thompson has adapted a very non-traditional and contrarian approach to financial planning, and written a book on it, called "The Banking Effect: Acquiring wealth through your own Private Banking System."
Frustrated with markets and financial buzz words, he thought there had to be a better way to wealth.
“It just got so frustrating because even though we were trying to do it the way "the Wall Street way," it just wasn't working. It was time to either find a better way,” he told this week’s “The Income Generation Show.”
Now utilizing models and strategies not often heard of in the financial community, he finds cutting edge ways to produce financial results without the risk normally associated with financial planning.
“Those who learn how to direct and keep the majority of these income dollars will have a higher net worth and create wealth far beyond those who relied upon rate of return,” he said.
“How you make purchases will also either increase or decrease net worth. It’s really that simple. The banking effect on your finances has more power to create wealth than nearly any other means available. Add tax benefits to the mix and it even gets better,” he said.
“Now the banking strategy has become a foundational tool for most of our clients. It has become a great succession planning tool to teach families the proper use and control of money. It protects capital. And it will incidentally create wealth when properly implemented,” said Thompson, also the author of "Discovering Hidden Treasures: Innovative Strategies For Creating, Retaining, and Transferring Wealth."
However, there are some conventional Wall Street products to also help you plan a comfortable retirement.
As an example, he cites the Roth IRA. “It really is the last place you can put money and really if you handle it right avoid taxes generation after generation. So it's designed differently, it's not a typical or we'll call vanilla, out-of-the-box traditional policy. It's designed for cash value and it's designed to maximize those tax advantages,” he said.
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