CONSIDERACIONES SOCIALES - RESUMEN EJECUTIVO INTRODUCCIÓN

4. Based on the terms, you pay your friend per the terms of the loan and your friends pays your loan directly to your Self-Directed IRA per the terms 5. This borrowed money from your friend can be used to pay off high debt or

for any other purpose. You have just created a win-win deal for you both. Loan proceeds are always tax free!

You need to read this strategy again - You just got $$$ out of your IRA tax free and penalty free!!! WOW!!!

Discuss this with your tax professional

23 - Do you have money leaks in your life like friends, children and family?

On an average you are losing $200 per month due to money leaks you have allowed in your life called friends, family and children. These people constantly borrow money from you because they don’t want help, they want a handout. Here are some basic ways to stop or reduce these leaks and create extra money for your life:

• Set aside monthly in your spending plan a specific amount that you will give to help others. When it’s gone you stop helping.

• Put your children on an allowance. If they want more money, they will borrow it & they must pay interest. This helps them to understand the high cost of debt.

• Turn it into a business expense if you know they aren’t going to repay you.

How? Give them this money (with 20 simple strategies) for “doing something for your business” (e.g. pass out flyers, provide leads, do research on money issues for you, etc.)

The best solution, teach them how to manage money - it works!!!

24 - Is your credit score 800 or more?

As you know by now your credit scores can increase the amount of money that you have. Utilize DFT’s systems to increase your scores an additional 50-150 points (Back 2 Basics-Credit Enhancement Systems). Here are some ways to get your credit to create money for you: Amounts in ( ) monthly projections

• Refinance your house if the numbers say so ($200)

• Rent out your credit, once specific proven criteria have been established

($200)

• Learn real estate, even consider partnering with a trustworthy experienced investor ($300)

• Borrow money to become the “Banker” ($150)

• Obtain lines of credit for emergencies and opportunities ($200) • Utilize for job promotions or new jobs ($300)

Analyze each idea to see which one(s) best suits your situation

25 - Do you have multiple loans?

This can be a great idea IF you follow DFT’s plan. If not, it will be one of the worst financial moves you have ever made in your life. Refinance or consolidate

everything into one loan. My concerns are:

• You are converting unsecured debts into secured debts

• You are freeing up your ability to incur or qualify for more debt • You are turning a short-term debt into a longer term debt

• You are covering up your money problem that you still have not fixed; this will make the problem worse

So why would I even recommend this? It’s great for creating monthly cash flow and allowing you to eliminate debt quicker.

Here is the DFT way to do this so you could save hundreds of dollars per month and thousands of dollars over the life of the loan.

• Make sure you have fixed the monthly problem, DFT’s “Back 2 Basics-

Spending System” helps here

• Enhance your credit scores so that you qualify and obtain the best rates (DFT’s “Back 2 Basics-Credit Enhancement” can help)

• Shop around for the best deals (e.g. the least amount of collateral) • Make sure the numbers make sense - Numbers never lie!

• Have a written plan to pay the new loan off quickly, use at least 50% of the reduction in payment and money created to attack this new loan

• Don’t incur any new debt

• Review you debts; not all may go into the new loan (e.g. loan with a $1,000 balance with a $300 payment)

• Attempt to negotiate some of the balances down without hurting your credit

Don’t forget! When the potential reward is great don’t be afraid to take the

limited risk!

26 - Do you have monthly NSF or late fees?

Most people have at least one NSF ($35 plus) or late fee ($30 plus) per month. When these are eliminated it’s obvious that you have more money! Here are some basic ways to do it:

• Create a “cash register” and use it just like you would a check register. The amount in the register should always equal the amount of actual cash you have. Thus, you will need to use money orders or other such things

• Learn to reconcile your checkbook

• Link your checking account to your saving and/or cash reserve until you have a surplus to pay it off

• Stop all, if not most, drafts to avoid NSF

• Obtain a debit card that does not allow overdrafts, link this also to your saving account

Reduce or eliminate late fees

• Understand which late fees are the highest and always pay them first • Request to move due date

Just another way to increase your monthly cash flow!

27 - Are there people who owe you money but are not paying you?

Chances are if you have loaned someone money it’s probably someone you know and like or at least used to like (just kidding). In most cases, this person wants to pay you back but can’t or haven’t because of their lack of knowledge about

money which causes them to mismanage their money. Make a list of people who owe you money and do one of the following:

• Teach them some of the DFT Money Interviewer strategies with the

understanding that they will pay you a lump sum now and 50% of whatever you create for them in monthly payments until it is paid off. At this writing, I did this with a guy who owed me $5,000 for years. He paid me $500 per month for 10 months. See how this created money?

• Secondly, if the first strategy does not work for people who you think may not pay you back for whatever reasons, offer them a one-time discount of 50% if they pay you all of your money within a specific time period (similar to Debt Negotiation, but now you are the creditor). Give them some ideas to help them come up with the lump sum (review your past DFT Money Interviewers or make this proposal during tax season or when you know they get bonus, profit sharing, or other monies)

• Thirdly, in exchange for what they owe you, they could give you something of value (old car, computer) and then you could sell it. Help them find something of value in their lives.

• Fourthly, get them to refer people to your DFT business that you don’t know. For each person that they refer and they setup a face-to-face

meeting for you, their balance is reduced a certain amount. If they join you could offer a greater reduction.

• Finally, discuss with your tax professional how to convert to a business expense and make it tax deductible

28 - Do you have children older than 14 or a spouse who does not work?

With proper planning and discovery of their passion you could use either one of these groups to create extra money for the family. It’s easy for that spouse who stays at home, though they are busy, not to be productive with their daily

schedule. For children, get them involved in creating money now. Here are several things:

• Teach them that a job is not the only source of money • Makes them more responsible

• It provides a greater understanding and appreciation for the value of a dollar; it will impact their spending choices

Things the non-working spouse or children can do:

Let’s look at Proverbs 31:10-31 to see some wisdom for the spouse at home

• She eliminates family drama so that he is focused in the market place and his mind is free to think when he comes home (v.10-12 and 28)

• Implement money management strategies to save money (V.13- 14, 19 & 22)

• Prepare meals to reduce eating out cost and to keep him energetic and healthy (V.15)

• Real Estate Investing (v. 16a)

• Investing options (Rental Stocks) (v. 16b)

• Harvest ideas to promote the family business (v. 17-19,22 & 24) • Invest in the poor (v.20)

• Organize and plan for the unexpected (v.18 b & 21) • She keeps her husband encouraged and motivated (v.23) • She thinks about how to create more profitable ideas (v.26-27)

29 - Have you created a written plan to obtain a promotion or rise on your job by solving some of your company’s problem?

Look what happened in Joseph’s life when he solved his employer’s problem. Pharaoh’s problem

Genesis 41:8 “And it came to pass in the morning that his spirit was troubled ; and he sent and called for all the magicians of Egypt, and all the wise men thereof: and Pharaoh told them his dream: but there was none that could interpret them unto Pharaoh.”

Genesis 41:16 & 25 “…God shall give Pharaoh an answer of peace.” “And Joseph said unto Pharaoh, The dream of Pharaoh is one: God hath shewed Pharaoh what he is about to do”.

Joseph’s Plan

Now therefore let Pharaoh look out a man discreet and wise, and set him over the land of Egypt. 34 Let Pharaoh do this, and let him appoint officersover the land, and take up the fifth part of the land of Egypt in the seven plenteous years. 35 And let them gather all the food of those good years that come, and lay up corn under the hand of Pharaoh, and let them keep food in the cities. 36 And that food shall be for store to the land against the seven years of famine, which shall be in the land of Egypt; that the land perishnot through the famine. 37 And the thing was good in the eyes of Pharaoh, and in the eyes of all his servants.

Joseph’s prosperity

Genesis 41:41 “And Pharaoh said unto Joseph, See I have set thee over all the land of Egypt”.

Regardless of who you work for or how the economy is, there are people who are still getting promotions and/or raises. Companies want to keep their best

employees who can make the company profitable. Here are some thoughts: • What do you need to do to get a promotion?

• Create a written plan to do that

• Find a problem in the company and solve it (this is key)

• If not a promotion, then what’s required to obtain a substantial raise? • Learn all you can - let them make you promotable or train you to run your

business

Most employees only point out the problems but never bring solutions… to create wealth you must create a SOLUTION MENTALITY!

30 - Are you struggling to make your house payment?

No one in America should ever lose their house to foreclosure. The Federal

Government has established about 15 different programs, plus many states have their own programs, that allow loans to be modified regardless of credit scores, present employment status or payment status on your home (e.g. you may be past due or current).

Homeowners who are struggling (you may be current) to make their monthly mortgage payment, or are no longer able to make their payment may qualify for a loan modification. The purpose of a loan modification is to re-evaluate the loan and to change or modify the existing loan terms (e.g. interest rates can be reduced as low as 1% FIXED) based on current homeowner affordability. Most

programs are NOT BASED ON YOUR CREDIT SCORES!

Imagine reducing your mortgage $400+/mo & your unsecured debts $300/mo. Total debt reduction=$700/mo. It's Possible!

31 - Do you have unlimited email access and regular conference calls with a financial mentor like William V. Thompson? (Proverbs 11:14)

What if you had someone in your life that understood the “Rules of the Money Game” and their greatest passion is to teach others those rules!

This is what William does! Through “The $9.99 Financial University”

(www.DFTNews.com/999) he makes himself available to those who have a desire to invest in their financial literacy!

For an investment of $9.99- $50 per month you could change your life and the lives of everyone in your family tree!

We are destroyed according to Hosea 4:6 because we have “rejected knowledge”. Understand you can’t expect to reap a harvest in an area you haven’t sown into. (Galatians 6:7) How have you sown into your financial literacy?

Seed sown into your financial literacy is harvest reaped in your financial legacy!

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