Forecaster Moneyletter Advises to Watch Assets in a Volatile Markets Credit Crunch, Late 2007 Appraisals are Needed, and Older Appraisals are Obsolete
Forecaster Moneyletter makes economic predictions, forecasts, and recommendations. The last issue recommends seize control of one's assets. Surprisingly, most people do not know how their net worth is spread; they have only a vague idea of what percentage of their net worth is in their home equity, rental propety, pension, IRA, 401K, perhaps a family business, or hobby with valuables.
Tarzana, CA (PRWEB) August 18, 2007
Economist John V. Kamin of the Forecaster Moneyletter in Tarzana, California recommends to seize control of assets. Surprisingly, most people do not know how their net worth is spread; they have only a vague idea of what percent of their net worth is in their home equity, rental property, pension, IRA, 401K, perhaps a family business, or a hobby with valuables.
Confidential Forecaster Report #25, from Forecaster Publishing Company, suggests working out current resale values of each, for 100% of a person's net worth, at least every 90 days. Then, you will know what % to adjust, how each performed over the last years, where one made gains, where individuals didn't.
Report #25 reveals net worth can be defined as resalable assets, minus liabilities, to equal what one is net worth. Some traps: Don't count insurance as part of net worth, except for its cash-in value. Bluntly, a policy holder has to die to realize full value.
This report also analyzes when counting real estate as net worth, a person needs a current appraisal, since the market has been wild for 3 years running. An appraisal from 2005 may be way out of date, obsolete, and useless. When figuring net worth, figure how much can be borrowed on that property, in case a loan is needed in an emergency.
Forecaster Moneyletter recommends individuals may own gold or silver coins, rare or key coins that could be sold! Find out resale values!
Rare coin expert, and president of the Forecaster Publishing Co., Kamin, advises that everyone should have at least one hobby for health and relaxation, but also to make money. For instance, he defines a boat as a "hole in the water into which you pour money". A hobby involving horses, requires a lot of board and upkeep, and doesn't make money unless one is in the breeding business. He suggests sticking to hobbies that grow wealth instead of dissipate it. For example, if photography is the hobby, one might defray the cost of all that expensive equipment purchased by commercial photo work.
In Forecaster Report #25, Kamin shows, by percent, what portion of net worth can be in various categories among his clients. E. G. Some of his clients who sell commercial real estate for a big profit may divert up to 10% of the after-tax profit into gold coins, so at least that portion doesn't get away from them. He gives many more examples in Forecaster Report #25.
The Forecaster Moneyletter, published weekly since 1962, has served subscribers in every state and many foreign countries. Kamin further suggests not overlooking a 10% to 20% "stockpile" of opportunity money, assets available within 72 hours to seize short but lucrative opportunities: a probate deal, a widow selling an almost-new low-mileage car 40% below wholesale Blue Book, a chance to buy profitable machinery that doesn't go obsolete at 10¢ on the $1 at a Customs Auction or bankruptcy auction.
He suggests THINKING LONG TERM. One prediction Forecaster has published is that USA population will double by 2057 to 2061, due to higher birth rates, more immigrants (legal and illegal), increasing longevity, other factors.
Long time subscribers find Forecaster very useful in increasing their net worth, in unconventional Contrarian ways. Clients have become millionaires through ideas in Forecaster Reports (over 2000 published since 1962).
One can obtain a first edition of current Forecaster Report #25 by contacting them at Forecaster, Dept. NR, 19623 Ventura Blvd., Tarzana, CA 91356. e-mail: forecasterml @ yahoo. com
New readers receive a confidential first edition of Report #25 FREE as a gift for new members who sign up for the Forecaster Moneyletter (10 issues $59).
Kamin is also the author of some 15 books on high finance, money matters, real estate, and considered an expert numismatist.
0ne may contact the Forecaster by phone at (818) 345-4421 Tuesday thru Friday. They work a 4-day week, and Kamin is the author of the book, The 4-day Week In Your Future, Everything You Wanted To Know And Didn't Ask.
###
