Author: Dennis Miller

What Does Really Matter?

Guest Post by Dennis Miller at Miller On The Money

Recently our friends at WHVP published an eye-opening article, The Swiss View: “It doesn’t really matter that much” discussing Fitch downgrading the US credit rating:

“Fitch announced that they downgraded the credit rating from the U.S. from AAA to AA+. ….(citing) the suspended debt ceiling and the high debt-to-GDP ratio.

…. While the announcement itself is already worrying, it is not comparable to the reactions that followed…packed with unreasonableness and arrogance.

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Generational Wealth – Fact or Fantasy?

Guest Post by Dennis Miller at Miller On The Money

Generational wealth is assets passed from one generation to another. A family business, stocks, bonds, real estate or other valuables are typical examples. These generally transfer when a family member dies.

This is different from the soft issues like family values, education, love and family, which begin the transfer process at birth and continue through a lifetime.

The Federal Reserve tells us about half of all inheritances are under $50,000, and a mere 2% are over $1 million.

Our friends at WHVP recently wrote a great article on the subject, telling us:

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The Financial Epiphany

Guest Post by Dennis Miller at Miller On The Money

I recently interviewed my nephew James about building wealth. His experiences were similar to mine, explaining wealth accumulation can be accomplished by paying off your debts; not only high-interest debt, but also paying off your mortgage as soon as you can.

I was in my late 40s the first time I filled out a Retirement Plan Income Calculator. After carefully following the instructions, the conclusion was painfully obvious: I was in trouble and would never be able to retire unless I changed my spending and saving habits radically. I called it my “financial epiphany.”

Webster defines epiphany as:

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I Can Feel It in My Bones…

Guest Post by Dennis Miller at Miller On The Money

This is one of the most difficult articles I’ve ever written. It’s from the heart, and I’m worried.

Premonition is defined as, A strong feeling that something (generally unpleasant) is about to happen, “He had a premonition of imminent disaster.”

If an intuitive, imminent, gut-wrenching premonition (fear) grips your mind and body comes true, you will never forget it.

I was 23 when John Kennedy was assassinated. I was upset, couldn’t sleep and visibly shaken. Suspect Lee Harvey Oswald was being transferred to a different jail. The minute the live news came on, my stomach got tight, I felt it in my bones, real fear; something awful was about to happen.

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The Generation X Retirement Report Card Is Scary!

Guest Post by Dennis Miller at Miller On The Money

Early Generation Xers (1965-1980), age 58, are nearing retirement, while the younger (43) folks are turning the corner into their peak earning years.

The National Institute on Retirement Security report “The Forgotten Generation: Generation X Approaches Retirement” indicates the majority are FAILING to save anything close to enough to retire comfortably.

Even with 401k programs available their entire careers, most still fall woefully short:

 

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Can Young People Actually Save Money?

Guest Post by Dennis Miller at Miller On The Money

I recently wrote about spending time with my 13-year-old grandson Brock. Apple phones and other nice things are something he is aware of; along with understanding that adults have to EARN the money to pay for them. How do young people get started in accumulating wealth?

In 2017, I interviewed my nephew James, a late Gen Xer (1980), who was off to a good start. His lessons still ring true; I shared them with Brock.

I explained there is a difference between “saving up” for something you wanted to buy, versus saving to grow and accumulate wealth. Retirement is the point where your savings, combined with Social Security/pension, provide enough income to pay the bills without you having to work full time.

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Fiat Currency Should NOT Be Blind Belief – Part 2

Guest Post by Dennis Miller at Miller On The Money

Congress just keeps spending money we don’t have.

It took just five weeks to add $1 trillion to the national debt after Congress authorized yet another increase in the debt ceiling.

The US debt clock projects our borrowing out to 2027 – it is scary:

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Fiat Currency Should NOT Be Blind Belief

Guest Post by Dennis Miller at Miller On The Money

Governments worldwide are creating currency, “Fiat money”, out of thin air to pay the bills; which historically leads to inflation.

In a recent interview Urs Vrijhof-Droese explained:

“Worldwide government spending programs,…pushed inflation even higher and is taking a toll.

…. In the long-run I believe, the EU and US government spending behavior will have a severe impact on their credibility, affecting the value of their currencies.

Accordingly, to protect their competitiveness, they might be forced at some point to look for alternative currencies that reveal more stability.“

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Henry Ford Was Right – Congress Must Act!

Guest Post by Dennis Miller at Miller On The Money

Henry Ford warns, “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”

People are catching on and they don’t like it!

The Fed Illusion

The Fed’s website is worthy of a BS warning:

The Federal Reserve

• conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy;

• promotes the stability of the financial system and seeks to minimize and contain systemic risks through active monitoring and engagement in the U.S. and abroad;

• promotes the safety and soundness of individual financial institutions and monitors their impact on the financial system as a whole; and

• promotes consumer protection and community development through consumer-focused supervision and examination, research and analysis of emerging consumer issues and trends, community economic development activities, and the administration of consumer laws and regulations.

What a cruel joke. G. Edward Griffin gets to the point:

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As Long As You Asked….

Guest Post by Dennis Miller at Miller On The Money

With a stroke of luck, those five words became very profitable over the years.

Shortly after I married Jo, her father passed away and I became responsible for managing her mother’s (who I affectionately called Grandma) money. Grandpa was a very successful farmer and they had done well.

The bulk of Grandma’s wealth was in Certificates of Deposit (CDs) at banks all over town. She understood the FDIC limits and carefully spread her money around various banks. When a CD would mature, the bank would send her a note, automatically rolling it into a new CD at the going rate.

One local bank had been gobbled up by Bank of America. When I got the renewal notice, the rate seemed low. I hopped in the car, drove over to the local branch and was greeted by a young lady. I showed her the letter and said, “the rate seems awfully low.” She smiled and said, “A long as you asked, I can authorize another ½%.”

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I Need Safe, Dependable Income I Can Count On!

Guest Post by Dennis Miller at Miller On The Money

Our recent article, “In Government We Trust??”, struck a nerve with many readers.

Subscriber Dan H. shared a graph, stating, “This is the only graph you need”.

This isn’t just the US. Urs Vrijhof-Droese recently provided his international perspective:

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It’s All A Big Lie!

Guest Post by Dennis Miller at Miller On The Money

As a youngster, I’d go with my grandmother to the grocery store pulling my little red wagon. We’d load up the groceries and tow them home.

With each trip she became more furious about food prices; “Prices are outrageous! We used to have to haul $25 in groceries in the wagon; now you can carry them home!”

I chuckled when friend Chuck Butler wrote in the Daily Pfennig about the debt escalation farce:

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The Worldwide Inflation Dilemma

Guest Post by Dennis Miller at Miller On The Money

Inflation is increasing prices and a fall in the purchasing value of money. Banks and governments make inflation sound complicated as it serves their interest. It’s a hidden tax. Government-created inflation weakens the value of the currency, our money buys less.

Anyone shopping goods, services, airline tickets, an automobile, clothing, and particularly medical care is seeing significant price increases. While the government wants to reassure us things are under control, we know better when we pay the bills.

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In Government We Trust???

Guest Post by Dennis Miller at Miller On The Money

With a big grin, former colleague Doug Casey told me, “Sure, you can trust the government!” I raised my eyebrows. He continued. “In the event of a crisis, you can not only trust the government to NOT do the right thing but also to do the exact wrong thing.”

Remember the Karma law of Humility; “You can’t change something if you refuse to accept it.” Accept the truth about government and you can reduce the frustration of trying to change what cannot be changed.

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You’re Buying the Government?

Guest Post by Dennis Miller at Miller On The Money

Trillions for bank bailouts, secret loans, exorbitant inflation, negative interest rates; middle class struggles while the rich get richer….

How did we get into this mess?

Frontline on PBS outlines, “The Long Demise of Glass-Steagall.” (Emphasis mine)

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The Twelve Laws of Karma

Guest Post by Dennis Miller at Miller On The Money

I’m writing this on my 83rd birthday. My life has changed since my 2019 cancer diagnosis. In a nutshell, cancer appears in my body, the doctors zap it, I’m good to go, another spot pops up and we do it again.

Each time it reappears, it’s a reminder I’m one step closer to judgment day. Without cancer, the same would be true. Just because something is inevitable, does not mean it is imminent; yet, for some it is more imminent than others. No point in complaining, time waits for no one, so I’ve learned to enjoy the ride as best I can.

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