Back from Bossier City

I had another seminar in the Bossier City area put on by a Hospital chain for their employees.  The response was very good and everyone seemed grateful for the information.  I did meet an impressive young lady last night that told me she was 23 and already had $8000 in savings.  Now she is contemplating using some of that to pay off the rest of her student loans.  There is a special feeling I get when I actually catch someone in their twenties and they “get” it.   Oh…to have this information in my early twenties.  But I guess if I had it, I wouldn’t be doing what I am doing today.  But just knowing that she won’t have as tough a time as me is very rewarding.

Take care,

Keith Phildius

www.investinyourdebt.com
 

 

You’re Invited…

Hello everyone! Happy Friday from the “left coast”.  I finally made it to the IYD Blogisphere. 

Blogging has certainly become a force to be dealt with; from celebrity gossip to hosting Presidental Conventions (like The Daily KOS Convention in Chicago earlier this week…).

I am hoping that we can all contribute to this IYD blog for information, support or just to vent.  I think it can be an excellent tool.  Let me know what thoughts you have on contributing to this blog.

Have a great weekend.

Danny
“West Coast Bureau Chief ”

 

Wow, we have been busy!

Our ADE (Automatic Debt Elimination) program has just really started to take off.  I just think that more and more people are realizing that debt elimination is an important component of their overall life and it’s worth the investment to make it happen. 

Seminars definitely tail off in the summer time but just recently I have conducted two seminars in the Bossier City area.  Bossier City Community College is a great place that I teach at about twice a year and they contacted me a few weeks backs because a Hospital company had indicated that they had read the IYD course description and would like to offer it to their employees and spouses.  They generously paid for the employees tuition and the IYD textbook.  I think they were a little overwhelmed with the response because of the rooms they had me speaking in were over flowing.  I had 35 students at the first campus and 37 at the second.  So they have since contacted me to schedule two more dates in August. 

It was a microcosm of society because you could tell in the room that I had everything from maintenance workers and administration to management and doctors.  I’ve always said that speaking to someone that is making $400,000 a year about their finances is just like talking to someone who is making $40,000.  If they are spending what they make, the conversation is basically the same.  Okay…got to run.  We have a seminar leader conference call coming up shortly. 

Take care,

Keith Phildius

www.investinyourdebt.com

 

Debt Elimination Plan doesn’t have to be Stressful

One of the things that I am clear about with my students and clients is that implementing a Debt elimination plan is not about replacing one form of financial stress with another.  Last night I spoke in Rockwall and we were discussing options to streamline costs to add more money to the Debt Investment.  I just happen to have two insurance salesman in the the class…actually one used to be an insurance salesman and the other currently is.  And a little disagreement came up on which is better…Whole Life Insurance or Term Life.  I truly think that it comes down to whatever you are most comfortable with.  I always tell my clients and students, if financial advice is going to keep you up at night, it isn’t worth it.  Every financial decision you make should not only look at the financial side of the argument but also the quality of life side of the argument.  In our Spend Smart book we talk about the myths and realities of insurance.  But no matter what the advice is…get educated and then do what you’re most comfortable with. 

Keith Phildius

http://www.investinyourdebt.com

https://www.investinyourdebt.com/IYDstore.htm

 

Speaking To All Generations

On Tuesday I spoke at an association for the Insurance industry here in Dallas and it happened to be a luncheon to honor past presidents.  There was a past president of the chapter from 1954-196?   I only had 25-30 minutes to share my knowledge. 

 In the past I felt uneasy speaking to older people that have their retirements set and really don’t have a need for a debt elimination plan.  But through the years I have come to realize that for people of that age it might just mean creating a stronger estate.  They might still have a mortgage or some car loans and if they focus on getting those paid off–they will be able to leave a debt free estate which leaves more for their heirs. 

I actually had an older gentleman come up to me afterwards and told me that he just never really thought about aggressively paying off his house but after my short talk, that is exactly what he is going to do now.  I want to thank Susan Tanner for having me and for sending a check to the Red Cross in my name. 

Take care,  Keith Phildius

http://www.investinyourdebt.com

https://www.investinyourdebt.com/IYDstore.htm

 

A Weekend in Austin

So I went down to Austin to work with Dave Ireland on the site and some training calls for the Automatic Debt Elimination system.  We had a great time because it turned into, as Dave likes to call it, the “Dave & Keith” Show.  We call into a conference line and Dave used me to do some mock calls to show what it is like to talk someone through how the ADE system works. 

 What we have found is that getting out of debt completely is extremely hard on your own.  Working with someone makes it run so smoothly and part of the reason is that you are accountable to someone.  Just like working with a training or a coach when you are working out or trying to lose weight, you have a better chance at success when you are working with someone on your side. 

We also made some minor enhancements to the site and also handled a bunch of other IYD related issues.  Thanks Dave and Diane for a great time and I look forward to doing it again soon. 

Take care, Keith

http://www.investinyourdebt.com

 

Debt Elimination in Houston

I drove down to Houston yesterday to speak at Leisure Learning.  It is probably one of the last times I will be speaking in the building where there currently reside.  They plan to move their operation soon to a more accessible and cost effective facility. 

The turnout was light last night.  The class had already been moved from the 2nd to the 7th and when I agreed to reschedule- it slipped my mind that it was election night.  But there were about 7 people there.  Also I had a couple there as my guest that found out about IYD from the Internet and are going to be using the Automatic Debt Elimination plan.  They came out to hear me speak and I was glad to have them there.  I received a call today from my guest and she was asking about the Debt Investment account.  I am going to call her soon to answer her question.  But her question was why do you set up the Debt Investment account at a different bank?  It isn’t crucial that you set it up at a different bank but the idea is to keep the Debt Investment account completely separate from your normal account.   So if your Debt Investment account is at a different bank, it makes it just a little bit more of a hassle to get to the money.  Therefore, that money has a much better chance of actually being there when you sit down to invest in your debt.   But–if you have the discipline to have a separate account at the bank you are using now, that’s fine too. 

 Take care and focus.   Keith Phildius

www.investinyourdebt.com

 

It’s Not about the Money

You can not put a price on piece of mind.  I had four different conference calls today and most of them were making incredible money but they were amazed at what a better place they will be in a few years by implementing a debt elimination plan.  None of these couples were worried about whether they were going to retire or not.  The underlying goal of all my students today was piece of mind.  They want to own their house.  They want to not have to worry about anything except what they are investing in.  Having a proven plan in place was all they needed to make their financial lives even that much better. 

One couple absolutely had no problem with the concept of cashing in a 50k mutual fund that isn’t performing to pay off all of their debt except their mortgage — next month!!  I asked them, “Won’t it be a wonderful feeling next month when you only have one debt bill?” 

 ”Absolutely.”

I’m off to Houston tomorrow to speak but along the way I’ll be monitoring the elections results and listening to talk radio. 

Take care and focus.  Keith Phildius

www.investinyourdebt.com

 

New Braunfels

I drove to New Braunfels yesterday which takes about 4 hours.  Wasn’t to bad though because I don’t mind the drive and talk radio makes the time go by.  I drove through the lovely town of Austin. 

There were about 10 people there last night and we had a good time.  One couple mentioned that they were off the chart when we calculated how long it was going to take to become debt free.  Most people, once they calculate their plan, will be able to eliminate all of their debt, including the mortgage in less than 10 years.  So “off the chart” means that it is going to take them more than ten years.  This is usually caused by the fact that the person just recently bought their home.  People that have just bought a house within the last year will find that the system is going to take about 11-12 years.  This can also be caused by an unusually high debt-to-income ratio.  Some people are a little bit more creative than others when it comes to creating debt.  But most people will only be able to get into a certain amount of debt before creditors start to turn them down. 

 When I asked them if they had just bought their house they said no.  But when I got a little closer to them they said, “But we just bought our vacation home.”  I looked at their list and they only had two debts.  Their current house and the vacation home.  When I glanced down at the paper I noticed that the remaining unpaid balance on the first mortgage was $280,000 but the amount on the second mortgage was $400,000.  How amazing is that?  The system will actually have them paying off two houses in about 12-13 years.  They can probably get it to less than 10 years because of the fact that they don’t have a lot of consumer debt and they can afford to put more than 10% toward their plan. 

I also met a nice woman that is changing careers and having a debt elimination plan in place will give her the ability to relocate anywhere in the country.  Good luck to her with her new career. 

Thanks everyone for an enjoyable evening and remember to shoot me an email to keep me posted on your success story. 

Take care and focus.  Keith Phildius

www.investinyourdebt.com

 

“Dr. Phil told me.”

Last night I had two conference calls that were totally different and yet, similar as well.  The differences were clear because one couple was in their early 60’s and the other couple was in their late 20’s.  But both are going to be able to get out of the debt situation they have because the idea of debt elimination resonates with them. 

The older couple has unfortunately had some income setbacks and has had to rely on living off the credit cards.  They are going in the hole every month to the tune of $2000 a month.  We were laughing last night because the wife was telling me that she obviously has been stressing about this and one night she had a dream that Dr. Phil, in that blunt Texan vernacular, told her that she needed to get a plan and stick with it.  Turns out by selling their house and downsizing their life, which they have wanted to do for some time anyway, they will be able to get rid of their crushing credit card debt and still have $50,000 to work with.  To them, investing in the debt makes total sense for them. 

The younger couple inadvertently got into a contract on a house that they were told they qualified for but now it turns out they don’t.  Their only option is to do whatever they can to improve their debt-to-income ratio so they can actually qualify for the house and then flip it.  They are going to make enough to get rid of their credit card debt and then find something that they can actually afford to live in. 

The bottom line is that any financial situation can only be enhanced when you have a debt elimination plan that you always are focusing on.  No matter what situation comes up, because you will have been working your plan, you will always have more options than would have if you didn’t have a debt elimination plan in place.  Remember, if you focus on your plan, you can actually be debt free and pay off your mortgage in less than 10 years. 

I’m off to New Braunfels tomorrow to speak so enjoy your evening.  I can’t wait to see what my nephew is wearing tonight. 

Take care and focus,  Keith Phildius

www.investinyourdebt.com