Do you think Social Security is a Ponzi Scheme?

Many people describe programs that they do not agree with as "Ponzi Schemes", but the truth is, many of the programs in our US Government are build similarly (if not exactly) like these schemes we are warned to avoid:

Click the link to see a brief video:

Social Security IS a Ponzi Scheme

What do you think? I happen to agree.


Tom Sirois
Great Barrington, MA

Money and Life Advice from 18 Wealthy and Prominent Leaders

Here is a great graphic from Entrepreneur Magazine, well worth the time paging through. If 10% of this sunk in early in our lives, I believe we would be much happier and wealthier.

Click here to go to "Inspiration Station"

Tom Sirois
Great Barrington, MA

Biggest Money Mistakes Grandparents Make

This is an excellent article from Grandparents.com

It tells of the Biggest Money Mistakes Grandparents Make.

I would also add two items:

1. Spending time w/ your Grandchildren helps them understand the value of time and company (rather than "stuff").
2. Explaining to your Grandchildren "the good old days". There is much in your personal history that would be of great value (financially and otherwise).

Any thoughts?

Tom Sirois

Great Barrington, MA

Halloween: Time for Financial Tricks or Treats?

Halloween, like many holidays, can be a great time to teach kid's financial concepts.

Use your children's natural excitement for dressing up to discuss budgeting, cost analysis, counting, etc.

Read the whole article here: Teach kids the financial tricks and treats of Halloween .

Do you use holidays to discuss financial concepts with your kids?

Tom Sirois
Great Barrington, MA

Do you know what a "write off" is?

Do you know people who think they know what they are talking about when it comes to money? It can be a very dangerous approach to take their advice.

Tom Sirois
Great Barrington, MA

Excellent Article Exhibiting why Our Country may be Doomed:

How (Treasury Secretary) Paulson Gave Hedge Funds Advance Word of Fannie Mae Rescue

Evidently, this "insider information" is not illegal since Paulson evidently "broke no law", but saying one thing to Congress (Public Statement) and stating the exact opposite to a chosen few is repulsive.

Why the Obama Administration has been reluctant to prosecute any of these financial crimes is beyond me, I believe he would have tremendous support from the people.

Thoughts?

Tom Sirois
Great Barrington, MA

Is your Broker a Butcher? or is your Advisor a Dietician?

Find below a great illustration of the difference between brokerage employees and fee-only fiduciary model.

It is pretty clear which one you should be looking out for:

Brokers vs. Fiduciary

 

 

Tom Sirois

Great Barrington, MA