Available for Interviews: Harry Abrahamsen
Harry J. Abrahamsen is Founder & CEO Abrahamsen Financial Group. His company offers customized wealth management solutions—creating plans and portfolios that protect, preserve, and grow client’s wealth. He was selected as one of the ten most dependable Wealth Managers in the Mid-Atlantic as published in Forbes magazine.
What Harry Abramhamsen can say in an interview about
Applying some bank strategies to creating wealth:
Don’t Do what Banks Say . . .
Do What They Do
The Velocity of Money is a fundamental economic concept, primarily used by banks and financial institutions.
- It is the motion and movement of money.
- One dollar deposited into a bank allows the institution to learn that money out over and over again through the velocity of money multiplier.
- Banks do not allow money to sit still. Banks are in the business of making money.
- They either lend you money so you can buy cars, real estate, business inventory or equipment: or park your cash safely inside their holding tanks so that hopefully you won’t ever need their loans.
- It is not “what” people buy from a product standpoint, but “how” they purchase things. How they buy a car. How they pay their taxes and how they fund for a child’s college education.
Banks are Like Vegas—
The House Always Wins
You need to learn how to play like the house. These are the financial strategies that institutions promote to the general public:
- Compounding Interest and Compounding your Taxes. It’s not just compounding of the taxes but the lost opportunity of the taxes being compounded. The great Albert Einstein once said that “Compounding of numbers is the 8th wonder of the world.” Banks and financial institutions that use this to their advantage by promoting strategies in their favor not yours (the consumer). Which financial product did Albert Einstein endorse and is it still around today?
- Term or Group Life Insurance. The absolute biggest money maker for the insurance industry.
- Mortgages of less that 30 years. Ignoring the time value of money.
Interviews: Harry Abrahamsen
Harry J. Abrahamsen is Founder & CEO Abrahamsen Financial Group. He has been quoted in numerous national publications, such as Forbes, On Wall Street, Financial Planning, Bottom Line Personal, Smart Money and cited in the Encyclopedia Britannica. An independent research firm has selected Harry James Abrahamsen as “The 10 Most Dependable Wealth Managers in the Mid-Atlantic” published in the Forbes December 2007 issue Investment Guide. Harry Abrahamsen has five children and resides in New Jersey.
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