James L. Paris's Blog, page 222

Joel Osteen Financial Scandal?

A prominent New York attorney is alleging that Joel Osteen is using his non-profit ministry to promote his for profit books. The upshot of the allegation is that book royalties are paid to Osteen personally, while his 'ministry' foots the bill for his TV broadcasts. I have many times considered restructuring ChristianMoney.com as a non-profit, but due to conflicts like this one I have decided against it.

Source: Virtual Globetrotting.com

According to media reports, Osteen stopped taking his $200,000 salary as pastor of his Houston mega church in 2005. Although this may appear magnanimous on the surface, Osteen is clearly the beneficiary of millions in free advertising through the TV broadcast funded with church dollars. Who knew (according to media reports) that Osteen's reported net worth is now $40 million dollars? Or that he lives in a $10.5 million dollar estate? (six bedrooms, six bathrooms, three elevators, five fireplaces, a guest house and pool house).

How Many Books Would Joel Osteen Sell Without His TV Broadcast?

If the allegations are true, I simply can't agree with what Osteen is doing. This arrangement, however, is not unique to Joel Osteen. From those in the publishing industry I have discussed this with over the years, I have been told 'they all do it.' My view has always been that if you want to operate in the 'non-profit' world you should not be in it to build a personal fortune. I don't just apply this to Christian organizations but to secular ones as well. A recent article published by The Street.com listed 10 CEO's of non-profits that are paid more than $1 million dollar salaries. I wanted to throw up after seeing this list. Even more sickening are the enormous salaries being paid to college presidents when kids are barely able to beg, borrow, and steal enough money to pay for college these days. But, I digress...  While I would not go so far as to say that Osteen's TV broadcasts are infomercials for his books (as the Enquirer article insinuates), I don't think this is far from the truth. 

You Can Buy Tickets To Joel Osteen Events Through Ticketmaster

Another Christian Guy With A $10 Million Dollar House 

Much like Osteen, Christian financial guy Dave Ramsey has built a massive following through his media broadcasts and made millions of dollars from his books. Ramsey also owns a $10 million dollar mansion himself near Nashville. There is one major difference, however. Ramsey does not ask for donations or operate as a non-profit. 

Don't tell me how much Osteen 'gives' to charity or that he does not take a salary. The church should be receiving the lion's share of the money made on these books in the first place. Joel, you can't have your cake and eat it too. Come on over and join me in the for profit world, the water is fine... Yep, us for profit guys have a tough hill to climb each day. We can't use donations to promote our books, we have to pay our expenses with our own money, but we do sleep well at night. 

Please help us to supplement this article. Is there something we missed or can add here to be more fair to Joel Osteen? Operating as a church, Osteen's operation is exempt from many of the reporting requirements of a traditional charity. ChristianMoney.com was unable to connect Osteen's ministry with any financial accountability organization, or obtain any kind of independent rating or review. We were also unable to find any public response to the National Enquirer article by Osteen's ministry.   

Helping you make the most of God's money!

 James L. Paris 

Editor-In-Chief ChristianMoney.com
Follow Me on Twitter Twitter.com/jameslparis
Christian Financial Advice 
Jim Paris 24 Hour Radio 

Obamacare vs. Christian Medical Sharing

As regular readers know, I have been recommending Christian medical sharing as an excellent alternative to Obamacare. I made the switch out of traditional health insurance in August of 2012 and have no regrets. I have suggested, however, that it still makes sense to consider other options and to re-shop annually to stay in touch with other options and prices. My son and daughter will now be dropping off my medical sharing plan as of February (my wife has employer provided health insurance). So, with the Obamacare open enrollment window I thought I should go to the website and see if my medical sharing plan was still the best financial option.

Here are the results -

Christian Medical Sharing ($7,500 deductible) = $193 monthly

Obamacare ($4,500 deductible) = $374 Monthly

I know we are not exactly comparing apples vs. apples here, so let's be fair and consider the differences. My medical sharing plan has a deductible of $7,500 vs. the $4,500 on the Obamacare plan. Upon closer examination, however, these plans are pretty much the same. My medical sharing plan does not work on the basis of 'deductibles,' but sets a maximum out of pocket amount (after I hit $7,500 they pick up everything beyond that for the year). So, a side-by-side comparison here is reasonable.

One Big Hidden Bonus Of Christian Medical Sharing That Saves Me Money

When we tell medical providers that we have medical sharing they consider us as 'uninsured' (which is technically true as medical sharing is not insurance). As a result, they charge me only a fraction of what other patients with insurance pay. For example, my doctor charges me only 50% of the regular rate. I pay $80 for a doctor visit as a 'cash patient.' No paperwork to speak of, no dealing with insurance claims, I just pay at the little window on the way out. It makes things very easy, and I don't feel like I am missing out on anything. In fact, I have seen people paying co-payments of $50 to $80 at the same window (and they are paying a monthly premium on a high ticket insurance plan).

When Obamacare Might Be Your Best Option

You have a significant existing medical issue that would be treated as a pre-existing condition and not eligible for coverage within Christian medical sharing
You qualify for substantial subsidies due to your income level and lack of access to medical insurance through your employer

Adopting The Right Health Insurance Mindset

Although it has always been true, it is now more true than ever that the real value of health insurance is protection against catastrophic medical expenses. If you are stuck on the idea of everything from dental to eyeglasses to prescription drugs being covered by insurance, you simply won't find that anymore. To the extent that you are able to find a plan with some 'deluxe features' you will pay dearly for it. The smartest financial move is to protect yourself against a large claim of $10,000 or more, and pay for everyday medical expenses out of your own pocket. You will find ways to make this work and it is not difficult to do (e.g. my own doctor charging me half price). I also shopped out my prescriptions and found a way to get one for free and the other for just $3. We are in a new world when it comes to health insurance and you have to 'find ways' to adapt. Being a shrewd consumer on this one area of your personal finances can easily represent a savings of THOUSANDS per year. 

Please use the comments section below to share your own ideas on saving money on health insurance.

Helping you make the most of God's money!

James L. Paris 
Editor-In-Chief ChristianMoney.com 
Follow Me on Twitter Twitter.com/jameslparis
Christian Financial Advice 
Jim Paris 24 Hour Radio

 

Americans Continue to Spend More at Christmas...but I’ve Had It

Was Santa good to you this year?

Chances are he’s at least been better to you over the course of the last few decades. According to an article at CNN.com, the so-called middle class continues to spend larger sums during the holiday season, and a big part of the reason is simply the desire, or maybe some feeling of obligation, to do more. Yes, prices are up, but that’s not the only reason for the rise in the amounts people are spending – most of us simply seem to want to drop more dough, and, it should be noted, such has become easier to do, now that personal technology devices have largely become the requested, and given, gifts for the holiday; it was not possible, of course, to give someone a laptop computer or a tablet in 1980, but, these days, it’s considered no big deal to give such pricey gadgets to even very young children.

As for me, I’ve been spending less for some years now, and made the conscious effort to do so because the “thing-buying” component to the holiday became too overwhelming for me. It remains a lot of fun to see the looks on family members’ faces as they open presents on Christmas morn’, but those around me will have to be content to receive those items they want which exist on a somewhat smaller scale. Part of what makes this easier, admittedly, is that everyone in my family is now well into adulthood, and I have long been of the opinion that once you are firmly ensconced into that community, you can buy your own pricey “stuff.” Still, I’m comfortable that even if there remained some younger family members for whom to buy, scaling back would still take place - I want each recipient to like and enjoy what he or she receives, certainly, but I’m OK without the overjoyed, jaw-dropping shrieks…and they’ll have to be, as well.

For those who insist on running around like crazy and spending madly at Christmas time, God bless you…but I will no longer be participating in the frenzy. I think the shift began for me in earnest a few years ago, when I took a call from a friend while standing in line at Best Buy; my friend asked me what I was doing, and I off-handedly thought to respond sarcastically with, “I’m celebrating the birth of our Savior by waiting in line to purchase an Xbox.” He laughed, as did I, but since that brief exchange, I’ve actually found myself spending less…and enjoying the season more.

As noted, I am in the minority, apparently - the data says most are spending more, and they must prefer to do it, because spending a lot of money at Christmas is not (yet) a law. Nevertheless, I remain committed to bucking the trend; ultimately, it is not about the money, but, rather, the growing desire on my part to regain, at least in my tiny corner of the world, the perspective that seems to be diminishing at the same rate at which gift tallies continue to rise each year.  

    Robert G. Yetman, Jr.

Managing Editor, The James L. Paris Report

Turn $25 Into $500,000 With 'New' Bitcoin?

I have been sharing my enthusiasm for Ripple XRP for a year now. Many (including me) believe that it is the next Bitcoin. If you want to know more about Ripple, here is my article from a year ago. The purpose of today's article is to discuss the rapid increase in value since July of this year. 

I receive frequent questions from readers of the blog about the fluctuating value of Bitcoin. Bitcoin is currently valued at $329. I initially bought Bitcoin when it was only at $12, so I am not terribly concerned about the wide fluctuations. Volatility is, however, part of the digital currency game. Bitcoin reached an all time high of $1,216 in November of 2013. In 2009 it was worth less than a penny and within two years a single Bitcoin was valued at $1. Many that buy digital currency expect it to trade like a large company stock. The ups and downs are simply too much for some people to deal with. This is why I have always said you should only buy a modest amount of any digital currency, and in an amount that you are willing to lose.  

While a jump in price from a 1/2 cent to 2 1/2 cents may not seem like much, it is a 500% move. This means even just $100 in Ripple XRP in July would be worth $500 today. I am convinced that the future is very bright for Ripple, and even if you had just a tiny amount it may represent a fortune in the future.

 

Crazy Example - Turn $25 Into $500,000?

What if you bought 1,000 Ripple XRP today (a total cost of $25) and the value reached $500? (this is not even half of Bitcoin's highest historical price). Your Ripple would be worth $500,000! Wow, that is really hard to imagine, but it is certainly not unprecedented. I would argue that this is a far better outlay of money than buying lottery tickets, Iraqi Dinar, or any number of other speculative propositions that Christians have promoted in recent years. 

A Secret Opportunity?

Now, the reason why I am so excited about Ripple XRP.  Very few people know about this digital currency and even with the recent spike in price there is virtually no news coverage. Ripple XRP has solidified its position as the #2 digital currency and I believe there is a limited amount of time to get on this train before the word gets out. Right now, I am even in the process of converting a portion of my Bitcoin into Ripple. This is how convinced I am that there is a huge opportunity here. I think Bitcoin could still go much higher, but I think the real upside here is in Ripple XRP.

An Even Better Idea

What if you could get your first 1,000 Ripple XRP for free? I am making a very limited offer to new subscribers to ChristianMoneyPlus. For those that grab an annual subscription I will give you 1,000 Ripple XRP.  As a member of my subscriber only portal you will also learn how to buy additional digital currency on your own. Some may also want to use this information to teach a class at their church or simply pass along to friends. 

I can only keep this offer on the table for a very short period of time. First, I can only honor this at current price levels. If the price jumps above 2 1/2 cents we will have to discontinue or modify the offer. We are also going to put a time limit of Sunday night at midnight (December 28, 2014). I would not wait until then, however, as I may be forced to take the offer down due to a price increase. If you would simply like to learn more about Ripple XRP, you can download a free PDF with some great background information. As Ripple XRP approaches its second birthday, I believe that exciting days are ahead.

Grab your 1,000 Ripple XRP and a one year subscription to ChristianMoneyPlus - Click Here.

Helping you make the most of God’s money!

James L. Paris 
Editor-In-Chief ChristianMoney.com 
Follow Me on Twitter Twitter.com/jameslparis
Christian Financial Advice 
Jim Paris 24 Hour Radio

Is The U.S. Government Hiding Information About UFOs

Stephen Bassett, Executive Director of The Paradigm Research Group, discusses the work of his organization on the issue of 'disclosure.' He believes that the government has been concealing information about the existence of UFOs and extraterrestrials for nearly 70 years. Bassett is not only convinced that we have been visited by extraterrestrials, but that they are living among us today. He also discusses the latest comments from the Pope and the Vatican on the extraterrestrial issue.

James Woods Blames Al Sharpton For Death Of NYPD Officers

http://www.christianmoney.com On this episode - Actor James Woods blames Al Sharpton for shooting of NYPD officers. Jim shares more on his retail arbitrage strategy, how to buy products offline and sell for double or triple on Amazon. The 844 Area Code Phantom Debt Scam. Sony says it will release The Interview through an alternate channel. Ripple XRP a digital currency similar to Bitcoin jumps 500% in value.

Buying Toys At Target And Selling Them On Amazon

If you are a regular reader, you are well aware of my latest financial adventure - retail arbitrage.  I shared in a recent article how I had bought a remote control toy car at CVS and flipped it on Amazon for a nice profit. I was only able to buy a total of three of these cars before the shelves were empty. I still find it fascinating that products can be bought right off the shelves of major retailers and sold online for a profit. I think I am starting to understand why this works so well.

Plugging Into Amazon's Sales System

My method of selling on Amazon involves the use of their FBA (Fullfillment By Amazon) program. I pack up all of my items in large boxes and ship them to Amazon's warehouse. Amazon handles all of the shipping for me. Since the item is coming from Amazon directly, Prime members get free shipping. There is also the comfort level that goes along with an item that will be 'fulfilled by Amazon.' So, the lesson in all of this is that price is not the most important factor for many people when making an online purchase. For many people, doing business with Amazon is convenient and reliable and finding the lowest price is not number one. For those that are Prime members (free shipping membership) there is also the added benefit of free two day shipping as well.

Why Offline Prices Can Be Low Enough For Flipping

Bricks and mortar stores will drop the price on clearance items, they will also offer some items at super low prices to draw people in (loss leaders), and they may have simply made a large enough purchase that their wholesale cost is incredibly low. Being able to buy in a retail store and sell for more on Amazon is the exception and not the rule. As I discuss in my four hour video, you have to know what to buy and how much to pay. This is not as difficult as you would imagine, as your analysis can be done quickly using a bar code scanning app on your smartphone. 

My Latest Flipping Success Story

Forgive me for being selfish, but I am only going to share the specifics on this one with the members of my private Facebook group. This group is open only to those that have purchased my four hour workshop. I will, however, share some of the general details. I found an item in the toy department at Target that I was able to buy for $13 that has been going for $30 to $45 on Amazon. Now, here is what makes my point about the whole Amazon FBA deal. There are a number of sellers offering this same toy for as low as around $21 but not FBA sellers. OK, I don't want to confuse anyone so let me explain. Individuals can sign up to sell on Amazon and then ship out their own orders (self fulfillment), but this is not how to make the most money. The product available through FBA that has the lowest price is the one that gets the order if the buyer clicks the 'add to cart' button (default option). The key is to make your product the default order option, and it is easy to do if you know how much to buy it for and you sell it through the FBA program.

My Latest Retail Flip

OK, back to my Target toy deal. I bought three of these items and included them in a large shipment to Amazon's warehouse earlier this week. The minute they hit Amazon they sold and I made about $10 on each one as my net profit. I went back to my local Target and bought the five remaining of this toy again today and they will be shipped out to Amazon tomorrow. This same toy is likely sitting on the shelves of your own Target store right now.  Also, there is a deal going inside Target that gives you a $10 free gift card on orders over $50. You can also pick up another 5% off if you use a Target credit or debit card (I got all of these benefits, but they were gravy and the deal would have worked without them). 

Why Give My Students The Exact Product I Am Flipping Right Now?

The reason I am sharing this one in real time with my students in the Facebook private group is not just for the sole purpose of them repeating what I did. There is an overall learning experience here. How I flipped this one toy can be done over and over again with other products as well. I started doing all of this simply as research for an article I was writing. This led to multiple articles, and ultimately my four hour Amazon Flipping workshop. I understand that earning a few hundred dollars extra per month may not be a game changer for some of my readers, but for others it is. I can also share that once you start doing this you will get better and better at it.  While my time is limited on numerous other projects, I can spend a few extra minutes when I am already at the store ostensibly sweeping up free money off the floor. Also, while I am not quite ready to share the details, I am working on some ideas of my own that would add a couple of zeros to how much I am making doing this... (to be continued).

For those that missed it, I am going to open up my offer from last week and honor that through Sunday night at midnight (December 21, 2014). I am once again going to give a desktop scanner to all those that enroll this weekend. Having a desktop scanner makes entering my products in the FBA system a breeze. Also, don't forget that you will have access to my private Facebook page where I disclose the toy that I am flipping right now on Amazon.  

Click here for a list of all of my articles on Amazon Flipping and this special bonus offer. 

 Helping you make the most of God's money!

 James L. Paris 

Editor-In-Chief ChristianMoney.com
Follow Me on Twitter Twitter.com/jameslparis
Christian Financial Advice 
Jim Paris 24 Hour Radio  

844 'Area Code' Used In Phantom Debt Scam

I received a call last night from an elderly relative that was very distraught. In fact, they were crying on the phone as they tried to explain to me their predicament. They received a call late yesterday afternoon from an individual claiming to be a representative of a debt mediation service. My relative was told that they owed nearly $9,000 on an old credit card bill. They were offered a 'settlement' on the account for just over $1,000. The individual demanded that the $1,000 be paid immediately or they were going to 'file a judgment' and place a lien on their home for the full $9,000.

Check Out This Brian Ross Investigation From 2012

 

My relative had a vague memory of an account with the credit card that was referenced, but did not believe that they owed any balance (and had not heard anything about this account in years). They gave me the phone number that the call originated from (which had an 844 prefix). I became highly suspicious when my Google search for that 'area code' led me to several scam warnings (The 844 prefix is a not an area code, but a new toll free number that went into effect just a few months ago). These fake collection calls are very persuasive and the caller will have personal information that is used to convince the victim (sometimes even their Social Security number). 

The scam has a few variations - sometimes the call is regarding a consumer debt, and other times it involves a tax or government obligation. The tip off is the high pressure for an immediate payment by way of a cash card (Green Dot, etc...). In this case I called the individual personally on behalf of my relative. You can imagine what happened next. I started asking detailed questions about their claim. The man began yelling at me and said that if my relative did not pay him that night he was going to 'file his judgment and place a lien on their home.' I asked him how he obtained a judgment as there was never a lawsuit filed. I told him that I had already checked the county court website and there was nothing on this. I asked him for a case number and court location for the lawsuit. Let's just say that the yelling became louder and more intense. A few seconds later he simply hung up on me and that was the end of it. 

Even after calling my relative and explaining to them that it was all a scam, they just could not accept what I was telling them. I had to spend nearly 30 minutes going over the fact that there was no lawsuit ever filed against them, all of the scam warnings that I found on the Internet about the 844 area code, etc... This is how truly convincing these calls are. In this case we never got to the point of any specific instructions on how to facilitate the payment. The odd twist, however, was that my relative was told that the payment would be picked up at her home that night. This may be a new twist on the scam, we will see. 

Please take a moment and warn your friends and family.

Helping you make the most of God's money! 

  James L. Paris 
Editor-In-Chief ChristianMoney.com
Follow Me on Twitter Twitter.com/jameslparis
Christian Financial Advice 
Jim Paris 24 Hour Radio  

Childrens Books - A Growing Niche In The World Of eBooks

One area that many of us fail to consider as ebook authors is the audience of young readers who, both on their own as well as at the urging of their parents, make up a significant portion of the overall book-buying population. Parents have always been aggressive about having their children learn to read, and as all age groups see a rise, at varying rates, in their purchase of ebooks relative to traditional books, the younger book consuming audience will continue to improve as a prime market for authors. In fact, there is a strong belief on the part of industry watchers that ebooks will begin to grow even faster among younger audiences, as the relationship between books and gadgets…which always catch a young person’s eye…grows even closer. We are now seeing useful data that supports this idea - according to a recent survey from PlayCollective and Digital Book World, over 45 percent of all parents who have children between the ages of 2 and 13 plan to purchase a device this holiday season for the express purpose of enabling their kids to read ebooks.

If you are someone who has long been interested in writing for the children’s and/or young adult audience, the trends are certainly suggesting that your time would not be wasted if you did so through the format of ebooks. For more information on our highly popular eBook course, click here.

    Robert G. Yetman, Jr.

Managing Editor, The James L. Paris Report

Uncovering The Identity Of The Antichrist

Bible prophecy expert Joel Richardson joins Jim for a discussion on the Antichrist. Why does he believe that the Antichrist will come out of the middle east? Is the Antichrist living today? What role could social media play in end times events? Is the Antichrist living today? Do events in Ferguson Missouri provide any insight into today's culture? How will we know who the Antichrist is? Do modern payment systems lay the groundwork for the coming Mark Of The Beast?