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    The Age of $elf Reliance
    The Age of $elf Reliance
    The Age of $elf Reliance
    Ebook176 pages1 hour

    The Age of $elf Reliance

    By Jason Matthews

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    About this ebook

    The Great Recession of the mid-2000s was the biggest financial collapse in America history since the Great Depression.
    Friends, neighbors, and families lost their homes, their savings, their investments, and their livelihood. People lost trust in our whole financial system and were regressing to survival mode.
    Guess what? I see the next financial collapse coming again soon. It may look a little different this time, but the same fundamental problems exist: a debt burden no one can pay, an aging population that’s leaving the workforce just as their healthcare costs explode, a social safety net that’s eroding, and incomes that don’t justify our spending.
    They called the Great Recession of 2008 a “once in a century” disaster, but I believe that this next economic downturn will be even more disastrous than the last – a new American Great Depression.
    But, here’s the good news: there’s still time to do something about it! You have an incredible opportunity to make some simple changes that will help protect your family and keep you financially safe and secure. In the Age of $elf Reliance, I give you all of the information, tools, and strategies you’ll need to survive – and even thrive – when the next economic downturn comes.
    They say that knowledge is power, and with this book, you have the power of your own financial self-preservation.

    LanguageEnglish
    PublisherJason Matthews
    Release dateNov 22, 2018
    ISBN9780463691434
    The Age of $elf Reliance
    Author

    Jason Matthews

    Jason Matthews was an officer of the CIA’s Operations Directorate. Over a thirty-three-year career he served in multiple overseas locations, spoke six foreign languages, and engaged in clandestine collection of national security intelligence, specializing in denied-area operations. Matthews conducted recruitment operations against Soviet–East European, East Asian, Middle Eastern, and Caribbean targets. As Chief in various CIA Stations, he collaborated with foreign partners in counterproliferation and counterterrorism operations. His first novel, Red Sparrow, won the Edgar Award for Best First Novel and was made into a major motion picture starring Jennifer Lawrence. He continued the Red Sparrow trilogy with Palace of Treason and The Kremlin’s Candidate. Jason Matthews passed away in 2021.   

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      Book preview

      The Age of $elf Reliance - Jason Matthews

      How the average American can prepare

      for the coming financial storm.

      JASON MATTHEWS

      The Age of $elf Reliance

      Copyright ©2019. Jason Matthews. All Rights Reserved.

      Liability Disclaimer This book is for information purposes only.

      By reading this book, you assume all risks associated with using the advice given below, with a full understanding that you, solely, are responsible for anything that may occur as a result of putting this information into action in any way, and regardless of your interpretation of the advice.

      You further agree that our company cannot be held responsible in any way for the success or failure of your move, transition or business as a result of the information presented in this book. It is your responsibility to conduct your own due diligence regarding the safe and successful operation of your business if you intend to apply any of our information in any way to your business operations.

      Terms of Use

      You are given a non-transferable, personal use license to this book. You cannot distribute it or share it with other individuals.

      Also, there are no resale rights or private label rights granted when purchasing this book. In other words, it’s for your own personal use only. All Rights Reserved. No part of this publication may be reproduced in any form or by any means, including scanning, photocopying, or otherwise, without prior written permission of the copyright holder.

      Smashwords Edition

      DEDICATION

      I want to thank my mom for always believing in me and being the reason I do the right thing.

      Thank you to all my client and people who referred me to their friends and families. It means so much that you put your trust in me.

      I want to thank my beautiful fiancée Savannah for always having my back no matter what!

      And a huge thanks to my boys, Zion and Kai, for inspiring and motivating me.

      I want to thank my god parents, Mitch and Quincy, for their words of guidance.

      Thank you to Joy Sledge for showing me that I could be author.

      I want to thank my man, Norm Schriever, for helping me put this book together.

      Shout out to my boys that support my business and give me so much love: Justin James, Jasper Smith, Steve Peterson, and more!

      I want to thank my mentors through the years: Walter Brown, Tinarsha Brown, Larry Buckner, William Johnson, and Guy Walker.

      A huge thanks to Larry Asia for giving me a chance in the business.

      Last but not least, a sincere thank you to the Association of Realist Property Brokers, the Urban Financial Services Coalition, and Toastmasters International.

      CONTENTS

      Foreword

      Introduction

      Chapter 1: Waking up from the American Dream

      Chapter 2: The new rules of the game

      Chapter 3: A game of musical chairs

      Chapter 4: The biggest issue in the world

      Chapter 5: The Four Buckets approach

      Chapter 6: The Guarantee Bucket

      Chapter 7: The Tax-Deferred Bucket

      Chapter 8: The Tax-Free Bucket

      Chapter 9: The Passive Income Bucket

      Chapter 10: Your emergency fund

      Chapter 11: Healthcare

      Chapter 12: Income protection

      Chapter 13: Long term care insurance

      Chapter 14: Life insurance

      Chapter 15: Estate planning

      Chapter 16: The simplest formula for retirement you’ll ever see

      Chapter 17: Figuring out your number

      Chapter 18: Finding the guarantees

      Chapter 19: The five most common questions about retirement

      Chapter 20: How do we cover your retirement shortfall?

      Chapter 21: What should you do with the rest of your investments?

      Chapter 22: The Strategy

      Chapter 23: Field notes on surviving the next financial crash

      Chapter 24: How to take advantage of the next financial downturn

      Closing

      FOREWORD

      It’s amazing how life brings people together.

      I first met Jason Matthews when we crossed paths at the Macy’s store in San Francisco’s Union Square. The funny thing is that neither of us were there shopping, but to attend a networking event hosted by the 100 Black Men of the Bay Area, Inc.

      There were a lot of inspiring people there to shake hands with, but as soon as I met Jason, I had this feeling that he worked in financial services, like me. Usually when I meet someone who works in the same field as me, we say hi briefly and move on, as there’s nothing to be gained from the competition.

      But Jason was different.

      Although we are both in the business, I think we definitely need to stay connected, he told me with sincerity. There is plenty of opportunity for every financial planner, and by working together we can both achieve our goals. I don’t look at you as competition.

      I knew from then on that Jason’s priority was to learn as much as possible to better serve his clients – and that we could really help each other.

      I’m happy to say that we’ve done just that.

      But aside from just conducting business, I’ve found that Jason also has a big heart and loves to serve his community. I encouraged Jason to join the Urban Financial Services Coalition, a 100% volunteer-based organization. Together, we’ve worked to help that organization to achieve their ambitious mission to be the preeminent resource organization in the financial services industry, providing professional development programs, educational advancement and economic empowerment for members and minority communities.

      Not only does he have a big heart, but Jason knows his craft. For years, he’s been consistently preaching about the wealth divide in this country, explaining that it’s one of the primary reasons why our society is growing even more divided.

      Jason has an unwavering determination help more families achieve financial peace of mind, ensuring that they take the necessary steps to create generational wealth. Having referred many clients his way, the feedback that I receive is always exceptional.

      I can trust that Jason is the type of financial expert who will keep it real during an appointment, allowing him to establish trust and form a bond with his clients that’s quite admirable – and rare – in the industry.

      For all of these reasons, I was ecstatic to hear that Jason was writing this book. Knowing him well, I promise you that these pages will contain invaluable advice for anyone looking save, invest, retire, and help their family through turbulent economic times.

      Expect nothing less than the bare, factual, hard-hitting truth about the financial situation in the United States – and the trouble we may be facing soon to come.

      Most of all, enjoy your time here with Jason Matthews as I have.

      Knowledge is wealth,

      Jasper Smith, CRC®, Founder

      The #Buildwealth Movement

      --------------------

      INTRODUCTION

      I started in the financial services industry in 2004 with an entry level job at a Fortune 100 company. I was a bright-eyed 20-yearold looking for an opportunity to work my way up the corporate ladder. At that time, the economy—bolstered by a white-hot real estate market—was bringing more prosperity to more people than perhaps ever before in American history.

      Within this Gold Rush of skyrocketing home equity, rising incomes, and free-wheeling spending, nobody wanted to hear a word of caution, yet alone the doom and gloom that it couldn’t last forever.

      Instead, everybody wanted to cash in on the sexiest investment at the time, which was real estate. Some even thought that home prices would keep going up forever!

      For instance, median home values in California’s San Juaquin County were a little over $198,000 in 2002 but had exploded to $426,000 by summer of 2006. Even Ben Bernanke and Alan Greenspan, both the head of the Federal Reserve bank at some point during the housing bubble, went on record to assure the American people that there was NO housing bubble.

      In this frenzy of greed and good fortune, many people bought houses with no money down, chose risky exotic or subprime loans they didn’t understand, or borrowed against their equity every few months. They used that windfall to purchase brand-new Cadillac Escalades, Hummers (they were in vogue at the time!), or even boats or lavish vacations.

      Nobody wanted to hear that this may not last forever. Even the person who was supposed to regulate and guide our economic policy, Chairman of the Federal Reserve Alan Greenspan, raised no alarm bells at the unchecked and unsustainable growth.

      However, as we know now, the economy of the Roaring 2000s didn’t last forever. Instead, it all came crashing down, virtually overnight, resulting in the biggest financial collapse since the Great Depression.

      Once the house of cards collapsed, the guillotine was swift and merciless. People all around me were foreclosing on their homes, going bankrupt, and losing those shiny new toys they had just bought.

      Friends, neighbors, and families lost their homes, their savings, their investments, and their livelihood. I remember the palpable shame and embarrassment of so many people, who hid out and didn’t answer their doorbell or phone to avoid creditors.

      At the time of the collapse, I was a New York Life agent in their Stockton General Office. As we fell into the great recession, people’s financial mindsets went from wanting to be aggressive with their portfolio to being very safe. Many of my clients had lost their jobs and needed

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