26(f) ProgramThere’s a pitch to invest in what the author calls a 26(f) program. The authors encourages participation before April 10, 2017, when the Federal Government will declare a ”RETIREMENT BLACKOUT”.
Investing in this type of fund supposedly out performs any other retirement fund. What can this be? It’s copy righted by Money Map Press.
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Does any one know what this is? Or, can you decode the name and how it ties to the 1933 Securities Act.
Haven’t done any research yet but this sure sounds like the “IRS 770 code” pitch just re-written.
I’m very curious about this myself. Any comments?
I want to know if its worth 99 bucks to find out?
My link has offered it at $39. I’d like info as well.
yes, i paid 39, but show on my bill 79
$79 was for the 2 year …
The default is $79 (gold package). You have to change it to the silver package ($39) if you don’t want all the extra stuff.
sounds like buying a closed end mutual fund. Yes, you can sometimes buy at 15% discount. Late December is particularly good time to find discounts.
I did not listen to their whole pitch or buy anything, but I think that they are referring to section 26(f) of the Investment Company Act of 1940 where is discusses Unit Investment Trusts.
I watched the video about this last night. Sounds & feels like sales b’s for a lot of fraudulent mis information under guise of “helping out”. I wouldn’t spend a penny for this junk.
I think you are absolutely right, but I’m going to do some research on it.
I am watching this video right now and it sounds too good to be true! Investment rule #1, Normally if it sounds too good to be true it is not!!
Don’t you mean “If it sounds too gooD to be true it usually is?
I belive Keith Fitzgerald is legit.
I agree .
You are joking, right? 😀
Here’s a link to a Fox Business article on IRS Code 7702 or “770 accounts” which are based on 26(f) of the Investment Company Act of 1940 regarding Unit Investment Trusts.
http://www.foxbusiness.com/features/2014/06/26/tax-story-behind-770-accounts.html
just borrow from your 401k get the money and pay yourself back at a very cheap price
Here’s an explanation of what amounts to a scam being advertised by “Morning Money”. It’s “whole life” life insurance, a bad deal for a long time.
http://www.sandiegocan.org/2014/06/20/alert-not-so-secret-ugly-770-account-swindle/
The “770” pitch started with the Palm Beach folks several years ago and has been discussed here many times. It’s a variety of the “bank on yourself” management of a whole life policy with maximum cash value. Not my cup of tea and it’s easy to screw it up (or get scrod by hidden fees and commissions in some cases), though some swear by it.
Actually “Whole Life” depends on the type of company you get it from. There are three types of Life Insurance companies and nay-Sayers of WL always lump all three together and condemn WL as bad. Not necessarily true. A WL from a stock insurance company is a totally bad deal, unless you know you are going to die tomorrow. A Mutual is much better, especially the larger, most respected ones and a fraternal is usually the best, however not always. One must due their research and make their decisions based, without interference of an agent or “supposed” financial counselor on their findings. Many of America’s most wealthy individuals and families have very large single premium whole life insurance policies, simple because the IRS has never touched the tax benefits of this important financial tool. I am a recipient of the benefits of a whole life plan. When my late wife became seriously ill and I could no longer afford her premiums, the dividends and the cash values of my fraternal WL policy paid the premiums and I was able to pay off my house and my 4 children and I stayed in our home and were not put out on the streets, broke upon her death. Term and invest the difference would not have provide like my WL policy on my wife did. I have a single premium whole life plan on myself now that is paying almost 6% returned annually and if I die today would provide my family more than double of what I have put into this plan. Every year my value increases and the rate continues to go up as well as my life insurance protections. My heirs get this 100% TAX FREE upon my death and I get it for almost no taxation if I want or need cash. Hard to get this with any other instrument our there. Do your research and you will see it is pretty awesome actually.
I just watched the video, got to the end, and realized that one of their address is around the corner from my house in Baltimore. I will walk in to the office, and get a face to face, if I can, and see if they’ll give me a FREE SUBSCRIPTION.
Put info back here for everyone to see, I’m really curious!
I am curious too! And would appreciate your first hand input after your visit
I’m interested in what you find out from your office visit. Let me know please.
I would like to get the free subscription too
Sealife, did you ever make it around the corner? What have you learned?
Did you receive anything from them.?
Janet
I bought the Money Map Report today (6 months, $39) which came with a report entitled “Unleashing the Power of 26(f) programs”. There is no mention of insurance companies. Keith Fitz-Gerald identifies 10 favorite mutual funds and stock picks. The returns he contrasts with the underlying are far, far greater than the underlying alone would get. However, he doesn’t tell you “how” to get into these as a 26(f) program. I’ve googled 26(f) and can’t find out what they are and how they differ from the stock or mutual fund. It can’t be options, as the mutual funds don’t have options. Does anyone have definitive info?.
Scam, of course….
26(F) can also be looked at in some respects as a “Closed End Fund” or CEF. They are used in various circumstances to raise capital and are essentially the same as stocks with certain essential differences. CEF’s is used as a way to fund new businesses or expansions. Capital raised through the sale of CEF is then used for IPO of common stock or invested in bulk into other revenue generating investments as a whole. When you “Google” 26(f) you should be looking for Closed End Funds as it is the basis for what the Business Investment Act of 1940 was written to address and is what made these tax exempt investments. It is involved reading but it is there.
Is this real or just another investment
Identity Theft has the offense code of 26F. The definition of Identity Theft is “Wrongfully
obtaining and using another person’s personal data (e.g., name, date of birth, Social Security
number, driver’s license number, credit card number).”
I’ve read the report and this is not the same 26(f). Having read the report, I’ve still got questions, so I’m going to the source- Keith. Hopefully I’ll get some answers, especially as I’m a Passport Club member.
The “presenter” seemed to make reference to some form of “startup” or “venture capital” investment scheme. It followed the typical “snake oil” sales presentation of too many “second hand” testimonials and no significant details.
The “startup” you’re worried about is one of 10 ETF’s that are mentioned in the report. That one happens to invest in IPOs. The others cover such things as tech, treasury bonds (I can hear you snorting at that one) IoTs, precious metals, energy, commodities, etc. Sort of something for everyone. And no, I’m not on their payroll. I just happen to be a happy subscriber.
So you are a sucscriber. So you have made investments. Is this a scam?
I just paid 39 dollars for the info and was a little disturbed that my receipt had my email address which I gave them but also had my login password which I didn’t give them how did they get that.
Advise: Immediately change your password!
Cancel subscription and consider joining the Irregulars here at stockgumshoe.com
Best investment I EVER made is stockgumshoe.com
Best2You&All ~ Ben
This sounds too good to be true. So if it’s too good to be true, then 99.9% chance it’s s scam.
I am new to this “investment” stuff but as I listened to this guy 26(f) sounded like a mutual fund type of investment thing too.