How do You Find Bad Financial Advice?
You can’t out train a bad diet.
This time of year we are all making New Year’s Resolutions, and one of the most popular resolution is losing weight; try and go to a gym in the first two weeks of the new year. With the gyms and fitness clubs full, everyone is pushing their bodies hard to shed the holiday weight or the extra weight they put on over the last year.
Then the gym attendance drops off like a metal balloon. Why because these folks think they can sweat the pounds or kilograms off in just a few short weeks without changing their diet or the number of calories they eat or the type of food they consume.
This same process rings accurate with how you are positioning your finances.
Before the year gets away on you, I thought it would be a great time to view the ghosts or skeletons in your financial closet.
Financial Ghosts of Past, Present and Future
Funding terrible financial advice is not something you ever think you are doing. You hope you are making some good choices at the very least.
The economic ghosts of past, present and future are living with us daily and in many cases cloud our judgement.
Double-Digit Returns; Ghost of Economic Past
In today’s volatile economic environment we don’t always have many good financial alternatives; we are all in search of double-digit returns. Double-digit returns continue to be an expectation, and these type of returns continue to be an expectation that continues to haunt all of us.
Change Nothing; Ghost of Economic Present
Many of us just let another year unfold and cross our fingers that something magically will get better in the new year.
Are you financially living Einstein’s definition of insanity? Doing the same thing over and over again and expecting a different result.
Ghost of Economic Future; Developing New Methods and Innovative Inter-Disciplinary Techniques
Don’t get caught up in the new flavour of the week.
When I am talking about you developing new methods of financial alternatives I am not necessarily discussing what’s new in the financial world; I am talking about new for you.
Aristotle said; “The whole is greater than the sum of its parts.
How often have you heard this saying?
Adding two things together is stronger than the whole; in other words, there is strength in team versus individual.
How does this work in building your financial foundation?
Let’s discuss inter-disciplinary.
Inter-disciplinary merely means combining two or more disciplines into one activity. Think about how you can draw knowledge from other financial fields or other fields of study and create your financial vehicle.
Let’s Rev Up Your Upcoming Year’s Thinking
Do you have a sport or a hobby that you are passionate about and you have utilized a particular training method to be successful but never for one minute thought about bringing that discipline over to strengthen your financial foundation and growth.
In earlier blog posts I have written my experiences about being a 1/2 Marathon Runner, and each year I start a 12-week training program. For over 15 years I return to the same training facility and start my training.
Before you jump into a 12-Week Half Marathon Training for Beginners or Seasoned Runners or begin any training for running 13.1-miles/21.1 kilometres race, you should be regularly running approximately 10 to 15 miles or 16 to 20 kilometres per week.
Running approximately 10 miles/ 16K to 15 miles/around 20K per week is one training technique, all about building a strong base.
Listen to my podcast episode below to learn about building a strong financial base.
Starting your investment real estate portfolio requires you to build a robust financial foundation; a training technique derived from learning how important it is to create a strong running base to complete a 1/2 marathon.
I have referenced The Investment Real Estate Way© in many of my blog posts and offer as a free planning tool on my website http://www.vaulttoinvestmentrealestatesuccess.com
The Investment Real Estate Way Starter Kit is made up of three key components:
- Personal Net Income Statement
- Personal Net Worth Calculator
- The Investment Real Estate Way Checklist
My goal over the next couple of months is creating a “Free Online Course” using The Investment Real Estate Way Starter Kit. The purpose of the starter kit is to help you build a robust financial foundation; readying yourself to purchase your first investment real estate property.
Planning a strong foundation needs several financial pieces, building blocks to create a plan you can take to a lender to secure financing for the purchase of your first investment real estate property.
If you sign up for The Investment Real Estate Way Starter Kit, we will make sure you are notified about our free online training course when it comes available.
Take some time to think about inter-disciplinary practice combining two or more disciplines in your life into one financial planning activity. What has come to your mind?
Create a new financial process foundation for yourself; don’t be afraid of Ghosts of Past, Present and Future; turn your nightmares into pleasant financial dreams.
About the author, W. Rick
Dynamic entrepreneur and sales management strategist; with over 20 years of experience in his field. Rick has achieved multimillion-dollar sales growth while providing award-winning sales leadership and coaching in highly competitive markets.
An active real estate investor since 2002, Rick has developed his purchasing strategies and processes specializing in vacation and recreational properties, single-family homes and condo rentals.
In 2005, Rick re-financed his first rental property to fund the purchase of more positive cash flowing rental properties.
Rick sits on the Board of Directors for several condominium associations and is an active President and Treasurer. Sitting on these boards has given him a wealth of experience and insight into working with property management companies.
Rick has partnered with several joint venture associates and is committed to creating a positive investing experience for his associates by finding the properties, developing the investment, securing the financing and executing a proven positive cash flow system.
Why should you choose Rick as your Online Vault to Investment Real Estate Success Advisor?
An outstanding mentor and coach, Rick will work with you to build your investment real estate business starting from the foundation. From guiding you through the market research and critical drivers, building your team of trades, realtors, and lenders to attracting the investment real estate properties right for your portfolio and the joint venture partners to help you grow.
Through direction and training, Rick will help you develop your investment real estate goals and be a catalyst for you to purchase your first investment real estate property so you can build a strong financial foundation unlocking sustainable wealth and a living legacy for you and many generations to come.
Thank you for taking the only asset that gives us so much through life, but we can never get back our time.
Please join Rick on living his mantra:
” Prosperity for all aspects of your life forever.” W. Rick Harris