I came across this article today about the sub prime mess. Australian Local Government, charities, churches, hospitals and nursing homes are all affected by the sub prime crisis.

This is pretty frightening stuff because many of the them are up to their eyeballs in CDOs and have not realised the debts yet.

Some claim they are still earning income from their CDOS but the article says they expect our local councils to be in severe trouble when they have to take the loss.

The article says there are about $320 million in CDO’s on council books alone and some councils have as much as 45% of their assets in these instruments.

About 20 councils are taking a class action against the companies that sold the CDOs.

You can read more on at the Age under Subprime pain sweeps the world.

Look out for much much higher rates in the coming years ;-(

Review what the Subprime mess is all about -

A One Page Explanation of the Subprime Mess

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This Blog has been going since 1st April 2008. I have now written over 110 posts and achieved some success in getting subscriptions. But it is not good and so I am reviewing my strategy.

Originally I realized this niche about protecting your nest egg in retirement would not have a big following because most baby boomer’s don’t see a problem and don’t even think about their retirement nest egg believing the professional wealth managers have it all under control..

We’ve all been sold on charts by the Wealth Industry that show a forever onward and upward stock market conveniently charted from around 1982 when this secular bull market began. Over 16 years of flat market performance before that when there was high inflation too is now out of sight for most Baby Boomers. History is forgotten. Read the rest of this entry »

I attended the first day of a 4 day seminar on Success Secrets on Friday. I was emailed a free ticket. I think I was part of the rent-a-crowd to help fill the empty seats. But I do sympathize with Seminar organizers in Australia as I know it is very hard to get high attendance at Seminars Down Under.

Although my ticket was FREE I do want to make some comments about the seminar. Read the rest of this entry »

My eBook to revert to its $19.97 USD at midnight tonight US EDT

My eBook will be reverting to my original price on 1st August 2008 US EDT. So if anyone still wants to get it at the 50% off price you can do so until then.

If you click on the image on the right it will take you to where you can still buy it and immediately download it.

It will open your eyes to the way money is taken from you without realising it.

Some People have Subscribed to my Blog but not Confirmed they want to receive the email notifications

Read the rest of this entry »

I just got this from Brett McFall an Aussie Internet entrepreneur. I’m posting it here because it is FREE. I have just signed up because I saw some names of Internet Gurus who will be speaking at the Seminar.

PLEASE NOTE: I am not an affiliate of Brett’s nor am I making any money from promoting this event. I do not know, nor have I ever met Brett. I subscribe to his email newsletter because he has some good things to say. (This also applies to the speakers listed below.)

If you intend to get involved in the Internet as a second source of income then attending a Free Seminar where successful Internet markets are speaking makes good sense to me.

Some I am interested in are: Read the rest of this entry »

I will be attending this expo tomorrow, Friday 25th July 2008 at Rosehill Race Course. I can see the irony in holding a retirement expo on a race course. Do they think us Baby Boomers are all gamblers?

If anyone who reads my blog is likely to be there and wants to meet for a chat and a coffee please email using the contact me page.

I’m keen to see what they are promoting as their financial solutions for Baby Boomers in retirement.

I will write a post on my visit and the information I get from the stands and the seminars.

It should be interesting.

Hi everyone the eBook has been selling quite well. I have been selling it at a 50% discount to my planned price and have now decided it is time to remove the 50% discount. Even at twice the price if you can use the information in it to save even 0.1% on the cost of your nest egg then you have more than recovered the cost of the eBook.

If you use the information in my eBook to negotiate reduced fees with your financial planner a 0.1% reduction on a $250K nest egg is $250 - ten times the price of the eBook.

This eBook is an education in itself about what the costs are to your nest egg and how the financial markets take your money from you over time in what seem reasonably small amounts. If you have read me recent post on "Government takes control of Baby Boomer Nest Eggs, you will realise it is now time to learn to manage your own nest egg.

It is far more important to limit costs and losses to your nest egg in retirement than chase high returns. The fund managers are paid to obtain high returns and high returns can only be achieve in the main by taking huge risks. This is something you do not want to do with your money if it is your nest egg and you are in retirement.

I qualified that statement by saying in retirement because when you are it is likely you are not earning anything like the money you were when you were working. So losses to your portfolio due to the stock market, fees and charges, inflation and taxes significantly reduce it over time even without you taking a pension.

Add your pension and you may end up with a nest egg that will lose so much of its capital that it will not be able to recover from a large stock market loss. Even if you want to continue working it is nice to have a choice. So don’t blow it by not taking control now. For just $19.97 USD from 1st August 2008 my eBook will help you do just that. You can still get it now for $9.97 though.

It didn’t occur to me until one of my readers mentioned it that baby boomer’s may be reluctant to use the comment boxes on my blog. For first time or new visitors to blogs, the main function of a blog is to have people interact on it through posts and comments.

It doesn’t mean you all have to agree with my posts. I am the first to say I do not have all the answers. Sometimes I have a hard time framing the questions. Writing posts on this blog is helping me clarify what is important and is helping me form my own strategy to protect my nest egg. What is important is there should be a free flow of ideas and information about protecting a baby boomer nest egg.

Read the rest of this entry »