He said that the speakers included Suzy Orman, Gen. Colin Powell, Mayor Rudy Giuliani, Robert Schuller and Zig Ziglar.

He mentioned that General Powell is a comedian (who would have known!) and that Ziglar is now ailing due to a fall at his home.

The thing that surprised this guest was that so many people bought the ‘how and when to use covered calls to beat the stock market’ package that was for sale by Phil Towne. All the experts say that you can’t time the market, but he said that (literally) thousands of people lined up to pay $100 each for the covered-calls course (plus $600/year subscription to a necessary additional service, plus potential upsells).

He said that there was also a presentation about how to protect your assets against lawsuits, but that he already knew all that stuff from the Asset-Protection-Trust.us website.

Anyway, our guest paid less than $10 to go to the motivational seminar and said it was well worth it.

They told me that everybody needs a legal will prepared by a lawyer, even single people with no dependents. They said that folks with larger estates need trusts like asset protection trusts and bypass trusts, which are legal devices to protect assets from the taxman and lawsuits by greedy persons.

I asked about wills that you can get for almost free, online. Being attorneys, they all said “Not a good idea!”

When I get into the high-income bracket, I will definitely investigate legal trusts. In the meantime, I think I will have ramen noodles for supper.