A Podcast with Jordan Goodman: 10 Secret Strategies to Make You Rich in an Up or Down Economy

Jordan Goodman

It's often been said that timing is everything -- his new book is titled Fast Profit in Hard Times: 10 Secret Strategies to Make You Rich in an Up or Down Economy. Jordan joins Peter Clayton for an exclusive Success Strategies edition of Total Picture Radio.

Questions Peter Clayton asked Jordan Goodman:

When you were writing this book did you have any idea the economy was going to be in the mess it is in today?

We obviously don't have time to discuss all of the 10 strategies you cover in Fast Profits - is there one or two you feel is particularly relevent in the current economy?

Let's talk about real estate: Tax liens. Foreclosures. There's lots of those these days

Chapter 2: Buy Real Estate Below Market Value Identify real estate sellers who are willing to accept less than their property's full market value for a variety of reasons. Then resell the property immediately at a profit, rehab it, rent it out, or even live in it yourself, all with the built-in financial cushion of having purchased the property for far less than it is truly worth. Jordan I feel like I'm pitching one of those infomercials that run at 2 AM shot on a beach in Hawaii with a bunch of rags to riches folks. Isn't this strategy almost impossible in this RE market? Where's the bottom?

Can you give us a brief overview of how to invest in Income Trusts and Master Limited Partnerships?

I found one of the most interesting strategies your chapter on Dividend Reinvestment Plans, known as DRIPS, which allow you to use dividends to purchase shares directly and thus bypass brokerage fees. Can you expain DRIPS to our audience?

I'd like to spend some time talking with you about chapter 7 in your book: Use Put and Call Options. It seems to me the people who've made a killiing have sold CDOs and SIVs short. Can you untangle all of this jargon for us? collateralized debt obligation, structured investment vehicle. IN RECENT YEARS, as U.S. home prices and mortgage lending boomed, bankers found ever-more-clever ways to repackage trillions of dollars in loans, selling them off in slivers to investors around the world. Financiers and regulators figured all the activity would disperse risk, and maybe even make markets safer and stronger.

Back to your top 10 list for a moment. Is age a factor in any of these? I know on your website, moneyanswers.com, you have money strategies for different age groups.

What about precious metals? Gold for instance?

Wrap up. Excelllent chapters on FOREX and broker cash flow. Case studies. Resources at the end of each chapter with web sites.

About Jordan:

Jordan Goodman, known as America's Money Answers Man, has been giving helpful, practical financial advice to millions of Americans for over 30 years. He is a regular financial commentator on national and local TV and radio shows around the country on personal finance topics, including weekly commentary on KMOX Radio in St. Louis, WLW in Cincinnati and KFNN Radio in Phoenix. He hosts the weekly Money Answers Show on the VoiceAmerica Business Network, (at www.voiceamerica.com), the largest Internet radio broadcast network in the world.

His website is one of the most popular destinations for personal finance advice on the Internet. He also appears frequently on CNBC, MSNBC, CNN, and Fox and as a keynote speaker at events ranging from national conventions to corporate and community events. Jordan was on the editorial staff of MONEY Magazine for 18 years, rising to the prestigious post of Wall Street Correspondent. He is the author of the best-selling Everyone's Money Book as well as the Everyone's Money Book Series, which includes separate volumes on credit, real estate, retirement, financial planning, college, and investing. He also is the co-author of Barron's Finance and Investment Handbook and the Dictionary of Finance and Investment Terms, which has sold over 3,000,000 copies. His most recent books have included Reading Between the Lies: How to Avoid Becoming a Victim of Wall Street's Next Scandal and Master Your Money Type: Using Your Financial Personality to Create a Life of Wealth and Freedom. Jordan's 12th book, Fast Profits in Hard Times: 10 Secret Strategies To Make You Rich In An Up or Down Economy, was published by the Business Plus division of Grand Central Publishing in January 2008. Jordan is also a speaker and seminar leader on personal finance topics for business executives, students, associations, investment clubs, employees and others.

Resources:

Money Answers
Fast Profit Excerpts

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