News of the day:

The FDIC shut down the 99th bank on Friday. San Joaquin Bank, based in Bakersfield, Calif. failed and was taken over by the FDIC. The shut down will cost the FDIC about $103 million.

This week, the stock market crossed 10,000 for the first time since hitting a low of 6500 on March 9, 2009. Six months ago, it was hard to imagine that we’d ever cross 10,000 again (my 529 and 401k plans look a little better) but we have. Will it continue? It’s hard to imagine that it will. But I’m not a soothsayer. We’ll have to see.

We had a call about where to go to find higher interest rates paid on savings accounts. Peggy just called in to say that Emigrant Bank pays compounded rates. BE CAREFUL: Sometimes websites advertise that they are FDIC, but they’re not. You can always research whether a bank is an FDIC member by going to FDIC.gov.

John wrote in to say he opened an account with ING because they gave him cash to open a savings account. “ING also gave me $25 or $50 to open a Sharebuilder account. The issue with ING is that they do not allow Payable on Death (POD) which as you know avoids probate court on an individual account. I recently opened a Discover Bank savings account which does allow POD designation for an individual account.”

All good tips. As I often say, I have the smartest listeners on radio.

FREE BOOKS and BUY 3 GET 1 FREE EBOOK DEAL

I still have copies of my book 50 Simple Steps You Can Take to Disaster-Proof Your Finances and The REALLY Useful Guide to Working Smarter Not Harder available to you.

Go to the ThinkGlink.com Store and click on our FREE PAPERBACK BOOK page. You pay the shipping and we’ll send you books for FREE.

We have a FREE EBOOKoffer: Buy 3 get 1 free. Just go to the ThinkGlink.com Store and type in the discount code: freeebook as you’re checking out

Here’s how it works: You pick out the three ebooks you want. Put in the discount code, and we’ll take one ebook off your bill automatically. You’ll get 3 ebooks for the price of 2 ebooks! Great deal.

How to Profit From Foreclosures – DON’T MISS OUT

Holly called the show a couple of weeks ago to find out how she can allow some of her employees to profit with the next commercial property she buys. I suggested she join me on October 24, 2009 for our next event, How to Profit From Foreclosures.

Holly, and other folks interested in investing in real estate, might want to start a separate LLC for a new commercial real estate purchase, and give selected employees the opportunity to be come limited members of the corporation while Holly would be the managing partner. (For more details on limited liability companies, simply go to the SEARCH box and type in “LLC” and up will pop hundreds of stories that discuss LLCs and how investors use them.”

The Georgia Association of Enrolled Agents will be at our How to Profit From Foreclosures event on October 24th, and will be happy to answer questions about how this might work, what are the pros and cons of such a move, and how you’d have to report it to the IRS.

You’ll also hear from:

Mike Rose, Bank of America will be on hand to help you figure out how to finance your foreclosure purchase.

Ricky Novak, a 1031 tax free exchange specialist, will be on hand to help you figure out the rules associated with a 1031 tax free exchange.

Mark Lackey from the Atlanta Housing Source will be there to answer question about how to find foreclosures and negotiate successfully for them.

There may also be other options for Holly, such as simply setting up a profit-sharing plan. But that’s what this day is all about. If you’re interested in buying foreclosures to live in or invest in, you’ll want to meet our experts and have them answer all of your real estate investing questions.

Buy Your Ticket NOW:

Click on the ThinkGlink Events button on any page or go directly to our EVENTS PAGE.

Prices go up on WEDNESDAY, so buy your ticket now!!!

Check back for the Foreclosure conference agenda to find out who else is speaking.

FREE BOOKS and BUY 3 GET 1 FREE EBOOK DEAL

I still have copies of my book 50 Simple Steps You Can Take to Disaster-Proof Your Finances and The REALLY Useful Guide to Working Smarter Not Harder available to you.

Go to the ThinkGlink.com Store and click on our FREE PAPERBACK BOOK page. You pay the shipping and we’ll send you books for FREE.

We have a FREE EBOOKoffer: Buy 3 get 1 free. Just go to the ThinkGlink.com Store and type in the discount code: freeebook as you’re checking out

Here’s how it works: You pick out the three ebooks you want. Put in the discount code, and we’ll take one ebook off your bill automatically. You’ll get 3 ebooks for the price of 2 ebooks! Great deal.

Herman Cain Show, Wednesday October 21, 2009

I’ll be filling in for Herman Cain this Wednesday, October 21, 2009. Hope you can join me!