Bankers. Financial Planners. Analysts. Hedge Fund Managers. They all have one thing in common: They get rich off you! Don’t kid yourself, they will bend every rule to get you to buy their products, use every sales tactic in the book so that you invest your hard earned money with them.
Don’t. Please don’t.
I was like you. A passive investor. Sure, I dabbled and tested my mettle in the markets but with a very small portion of my portfolio. I was happy to let someone else do the heavy lifting. That was until I started to get real about investing. My “dabbling” was outperforming the rest of my portfolio and I could not understand why I was paying fees for someone to “actively” manage my portfolio. I’ve seen more activity watching paint dry.
So I made the decision. It’s my money. My future. My responsibility. Why leave it to someone else? I liquidated all my investments, dropped my advisor and went at it alone and haven’t looked back.
Think about it. Anyone who has quotas or is being paid a bonus based on how much product they sell is NOT looking out for your best interest. There is only one person that you should rely on when investing your hard earned money: YOU.
Everyone should save. Everyone should invest. Just don’t rely on Wall Street to have your best interests in mind. Investments can take a number of shapes and forms. Bonds, equities, ETFs, mutual funds, strip-bonds, memorabilia, art, real-estate, etc. Hell, since 2000, LEGO has performed better than gold and has outperformed the stock market!!
Is crypto-currency your thing? Check out this beautiful chart for Bitcoin
Source: Vocativ
Time to overcome your fear. Take control of your own future. As with anything, a little hard work and determination goes a long way.
I hope you enjoyed PART 1 of this series. I hope to enlighten and share some of my thoughts on different ways that you can take control of your own financial future. PART 2 – We’ll dig a little deeper and explore a little more, keep your money out of those Nigerian Princes' hands!! Do you have something in particular you would like me to cover? Let me know in the comments below.
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