The Power Of Zero

In 2013 MorningStar published a study of their finding on low yields and safe withdrawal rates for retirement plans. The authors of the study were notable and accomplished PhD’s with advanced degrees in economics and finance. They concluded that our ability to avoid running out of money in retirement was based on taking no more than 2.8% a year from our accounts. Now just think about that: 2.8%. On $100,000 account for our retiree, that would be $2800 – quite a difference from the $3649 the IRS is requiring to be taken out. In fact restore 30% more than the MorningStar’s expert consider safe if the goal is to be highly certain you won’t run out of money in retirement.

• “The banks and the bigs are robbing the country blind in broad daylight. Barry Dyke calls it like it is.” Gerald Celente, Trends Research Institute, world renown trends forecaster
• “Barry Dyke has rendered us all a great service, much like Paul Revere when he alerted the colonists that ‘the red coats are coming said Pat Boone, Beverly Hills, California, speaking about The Pirates of Manhattan.

• “Guaranteed Income: A Risk-Free Guide to Retirement" - is strong in passion and rich in detail, a fine combination. I especially enjoyed your “take” on annuities.” John Bogle, Founder, Vanguard Investments
• “Barry Dyke called it.” Jay Leno, Burbank, California
• “Barry is one of the most insightful, provocative and informed people in the industry.” Laurence Barton, PhD, former President of The American College, Bryn Mawr, Pennsylvania

• Why Wells Fargo, Bank of America, JPMorgan Chase, PNC Bank and Bank of New York Mellon who make billions speculating with your money in the stock market use guaranteed annuities and life insurance products to stabilize their balance sheets and fund their benefit plans. See why mutual fund giants, Fidelity and Vanguard, also use annuities to provide guaranteed income for their well-healed client base.

• Why the nation’s top financial regulator, The Federal Reserve System, in 2008 used annuities to dodge the stock market meltdown in its 401(k). Learn how Fed chairs, Ben Bernanke and Janet Yellen, count on and invest in annuities to finance their retirement.

• How General Motors, Verizon, Bell System, NCR, TRW, Kimberly-Clark and others are “de-risking” their pension plans from stock-market volatility by purchasing multi-billion dollar annuities.
• Why top executives from AT&T, Bank of America, Boeing, Coca-Cola, Comcast, General Electric, IBM, Lockheed Martin and hundreds more fund retirement programs with monster annuities and cash-value life insurance.

We are witnessing the collapse of the “American Pension” and facing a “Retirement Income Crisis.” America’s solution to this problem has been to adopt the 401(k). Funded with highly speculative mutual funds, the 401(k) has proven to be a colossal failure in providing the guaranteed lifetime income stream which we all want in our retirement years. There is a solution. Best-selling author, Barry James Dyke, in his third book, "Guaranteed Income: A Risk Free Guide to Retirement", provides meticulous, groundbreaking research showing how consumers can create their own pensions by using annuities and life insurance products.

GE’s CEO with $52 million qualify deferred compensation plan, which is also likely insurance base. Palmisano is the only one from Barry Dykes research who had a 401(k) plan. The rest of them did.

As of 2010, JP Morgan had $10 billion. Bank of America arose Merrill Lynch had $20.3 billion. PNC Bank had $7.4 billion. And Mellon had $3.7 billion. Amounts of money that they have in high cash value life insurance based products.

Why is that Wells Fargo has $18.2 billion of life insurance and annuity cash value in its one capital? One capital is the safest capital in the bank. They have more life insurance and annuity values on the book than they have money in their defined benefit pension plan to pay out for their future retirement benefits. They’ve got more of these values on their books then they have invested in physical bank buildings.

On the corporate annual report, they show $53.4 million in cans SERP. Where is he? Is a high cash value life insurance policy. That’s with the usually to ensure that they’re able to make good on can Lewises 3.4 million lower all year special pension. Let’s think about that for a second.

Bank of America CEO Ken Lewis is guaranteed to get $3.486 million a year as an annual retirement benefit beginning at age 60. How do you think Bank of America plans are fulfilling the promise of those benefits? Well, they’re going to use Bank of America refers to as their annual statement as a SERP. The SERP is not the company 401(k) where a defined benefit plan. It’s a special plan for their most senior executives.