Douglas Andrew on Sound Financial Planning in the Modern Age

Douglas Andrew | October, 27, 2014 | by 0 Comments

Douglas Andrew serves as the owner and president of Paramount Financial Services, Inc., where he has acquired ample experience and offers helpful advice about financial planning strategies and the necessity for change.

 

Q: As a starting point, what do you tell clients about the potential benefits of financial planning?

 

Douglas Andrew: The most egregious error that people make in terms of financial planning is that they fail to plan at all. Given the many new technologies and devices available on today’s market, it’s awfully tempting to spend one’s hard-earned money on a new iPad or car or trip around the world. But consumerism doesn’t pay in the long run. Instead, people should invest their money wisely in order to secure future opportunities.

 

Q: How can proper financial planning help me in all aspects of my life?

 

Douglas Andrew: By keeping your priorities straight, you will not only have the opportunity to live comfortably, but you’ll also have the opportunity to contribute to the causes and interests that matter most in your life. These could include family members, friends, charitable organizations, churches and schools, among others. Too many people work endlessly to regain their footing after a series of poor financial decisions that reverberate for years throughout their personal and professional lives. Avoid the pain of careless, short-sighted decisions and make wise choices now. If you’ve made mistakes, stop the poor patterns and make changes to correct your course.

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    Douglas Andrew Summarizes Keys to a Smart Financial Plan

    Douglas Andrew | September, 27, 2014 | by 0 Comments
    Douglas Andrew

    Clarity of thought is critical for establishing any solid financial plan, according to noted financial strategist Douglas Andrew of Missed Fortune. According to Douglas Andrew, four qualities are important when plotting the right course:

     

    · Confidence

    · Focus

    · Balance

    · Clarity

     

    When you use these qualities to form decisions, you’ve just increased your potential for success significantly.

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      Success Equals Predictability, Says Douglas Andrew

      Douglas Andrew | July, 13, 2014 | by 0 Comments
      Douglas Andrew

      A life of predictability, financially speaking, equates to a successfully managed life. According to Douglas Andrew, there are certain rules that one can follow to help achieve success. It all boils down to getting the right systems in place. According to Douglas Andrew, a future retiree can remember this principle by using the acronym SYSTEM – Save Yourself Time, Energy and Money.

       

      Calling on more than four decades of wealth management experience, Douglas Andrew says that the proper implementation of a predictable system allows his clients to plan for the future with the least amount of effort. This does not mean without any effort, however. Douglas Andrew stresses that more concentrated activity in the beginning means less struggle later on. This is true in virtually all aspects of life, he emphasizes to clients.

       

      According to Douglas Andrew, maintaining predictability in today’s volatile economic conditions with a tried and true system is more important than ever. Inflation and ever-increasing taxes have made it more difficult for both young and seasoned adults to save for their future. Those who are proactive with their money are the ones who are able to rise above these and other financial barriers.

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        Douglas Andrew Explains How Some Pain Equals Meaningful Growth

        Douglas Andrew | June, 21, 2014 | by 0 Comments
        Douglas Andrew

        It is normal to feel a little uneasy when faced with new ideas, says Douglas Andrew, but when people allow that fear to dictate their life’s path, things can get painful.

         

        Fear vs. Future

         

        According to Douglas Andrew, the fear of an uncertain future is one of the biggest factors that keeps individuals from achieving their financial goals. Their money sits idly in assets that, they hope, will bring them great returns. They believe that even if those great sums of money never come, at least their wealth is safe and will remain intact. When they encounter new ways of growing their seed funds, they may shrug it off as too unconventional, says Douglas Andrew. This creates a perpetual battle between the person’s fear vs. his or her desire to ensure a stable future.

         

        But even recent history has proven that just following the crowd and adhering to conventional financial planning wisdom can bring unwanted results. During what Douglas Andrew calls the Lost Decade (2000 – 2010), millions of Americans lost significant amounts of retirement income placed in 401(k)s, IRAs and the stock market. As they watched their nest eggs erode in the economic storms, others who followed financial strategies that may have been unconventional but that offered greater safety, liquidity, and rates of return lost zero principal—and in many cases even gained returns on their principal. Some listened to fear, while others looked to the future.

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          Q&A with Douglas Andrew – The “Rule of 72” and Saving for Your Retirement

          Douglas Andrew | May, 23, 2014 | by 0 Comments
          Douglas Andrew

          Q: Why is the Rule of 72 applicable to today?

           

          Douglas Andrew: We all hope to have more than enough to cover our needs, to prepare for comfortable retirement years, and to help family, friends and charities along the way. One of the ways we talk about accumulating enough wealth to do this is “doubling” our money. And to do that, a bit of preparation is critical—this is where the Rule of 72 comes in.

           

          Q: How does the Rule of 72 work?

           

          Douglas Andrew: The Rule of 72 states that you can take your current interest rate, divide that rate into the number 72, and the result shows you how many years it will take to double your money.

           

          Q: What is an example of the Rule of 72?

           

          Douglas Andrew: Let’s say you were earning 8% interest – 72 divided by 8 is 9. So your money will double every nine years. (That’s based upon a one-time lump sum ) If you were earning 9%, you’d double your money every 8 years. If you were earning 7.2% (72 divided by 7.2), that would mean you’d double your money every 10 years. At 10% your money would double every 7.2 years.

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            Q&A with Douglas Andrew – How Does the Current State of the US Economy Affect Me?

            Douglas Andrew | April, 23, 2014 | by 0 Comments
            Douglas Andrew In this brief Q & A, wealth architect Douglas Andrew answers questions about the impact of recent economic stimulus programs and offers insight on ways that average Americans can protect themselves financially.

             

            Q: What has contributed to our troubled economy?

             

            Douglas Andrew: One of the biggest issues is the excessive amount of debt the US has taken on in the last five years. Over the last 60 months, we have racked up nearly $7 trillion worth of debt. Regardless of who is at fault, what is certain is that our future generations will be left to pay a debt they had no role in creating.

             

            Q: How has President Obama suggested the debt be paid?

             

            Douglas Andrew: It appears that the administration’s solution is to print more money. This, in turn, is causing inflation, which is causing average

            Americans to pay more for virtually everything they buy. Sadly, while it is to be expected that inflation will increase over the natural progression of time, they have not kept pace with America’s earning power. This escalating cycle is not likely to end any time soon.

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              Press Mentions of Douglas Andrew

              Douglas Andrew | August, 29, 2012 | by 0 Comments

              Missed Fortune Series from Douglas Andrew Addresses Predictable Rates of Return Salt Lake City, Utah, United States of America (Free-Press-Release.com) August 27, 2012 — Douglas Andrew, founder of Paramount Financial Services and creator of the popular Missed Fortune Asset Optimization program, announces that investors of the 2000-2010 decade have an alternative to traditional financial planning. [...]

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                Videos of Douglas Andrew

                Douglas Andrew | August, 27, 2012 | by 0 Comments

                  Tight Times: Us vs Congress Doug points out the absurdity in the difference between how regular Americans deal with tough economic times verses how the federal government does.   Effect of Taxes on Income Doug Andrew discusses the shocking effect that taxes have when withdrawing income from tax deferred accounts.   Can We Spend [...]

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                  Douglas Andrew Explains Indexing

                  Douglas Andrew | August, 20, 2012 | by 0 Comments

                  Over the past several decades, financial advisor Douglas Andrew has achieved a high rate of return personally, and for his clients, in maximum funded tax-advantaged life insurance policies. In the Missed Fortune series of workshops and educational materials, Douglas Andrew explains the liquidity, safety of principal, and rate of return that come with this type of funding. When it comes to this type of insurance contract, Douglas Andrew explains to individuals that there are two primary choices—fixed and indexed.

                   

                  With an indexed life insurance contract, says Douglas Andrew, individuals have the option of earning a little more when bonds and inflation are low. According to Douglas Andrew, when an individual chooses an indexed contract, growth is determined by the activity of the stock market. A person can receive up to 100% of whatever that growth is, but there is a cap, set anywhere from 10% to 17%. And if an individual does not want to lose when the market goes down, he or she would receive a 0 to 2% return.

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                    Douglas Andrew | Social Media

                    Douglas Andrew | August, 17, 2012 | by 0 Comments

                      Connect with Douglas Andrew on Facebook, Twitter, Google+ and Linkedin Connect with Douglas Andrew on Facebook Join our fan page on the world’s largest, fastest growing social network, and interact with other like minded folks. Plus, get updates, fresh content and other good stuff. Follow Douglas Andrew on Twitter Subscribe to our article feed [...]

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