Archive for the ‘Investing’ Category

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Should I Move My Money Out of the Stock Market? Where?

Wednesday, August 10th, 2011

With the Dow losing 15% over the last 3 weeks, many are wondering what to do next. Should we wait it out, or should we get out? When’s enough enough? What if it comes back?

Are you frustrated with how your money has grown (or not grown) over the last 10 years?

If you see virtually every article on this topic, they will tell you to calm down and ride the wave. Besides, you don’t want to get off the roller coaster when it gets exciting, would you? These article contributors will make it sound like you are on anti-depressants and can’t think for yourself because you’re too stupid to keep your emotions in check.

In reality, I think you’re smarter than they say you are. Using fear is a great way to keep their advertisers (investment firms and banks) happy. Despite this, you don’t want to make a mistake either. After all, you don’t want to get out when everyone says to stay in, do you? Shouldn’t we follow the herd and play it safe?

My own personal motto with any kind of investment or business deal is “When in doubt, stay out.”

However, I legally can’t tell you to buy or sell. Besides, it would be bad to tell you what to do without knowing who you are. But, I would have you consider a few things to help you make up your own mind.

  1. Are you avoiding looking at what’s happening so you don’t stress out?
  2. Do you have doubts about the future of the economy and government decisions?
  3. Are you really passionate about the stock market, or do you just want to invest where you can create freedom and security?
  4. Do you know what you’re doing in the market?
  5. Does your financial advisor have any control of the markets, or are they just telling you to “trust them?“
  6. What would you do if the market kept going down?
  7. Why do Chris Miles and Dale Clarke laugh when the market tanks? =)

If you could answer these confidently (except for question #7), then you may be fine keeping your money there. If you had doubts about your investments, you may want to consider talking with a professional (hopefully someone who’s not paid to sell you products) to know what would be best for you. Ignoring what’s happening to your money is as bad as ignoring your spouse. Like in relationships, if you ignore them too long, you lose them. Don’t ignore and lose your money either!

If you want to learn ways to not only make money, but keep it, then I would recommend educating yourself further about the NEW RULES OF MONEY. If you like the gamble, that’s fine too. Go ahead and follow the herd, and let us know how it goes.

The good news is that Dale and I sleep well no matter what the news is saying. How have you been sleeping lately?

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How Can I Be Financially Independent Faster?

Tuesday, September 14th, 2010

This last week, I had a coaching member ask me how we apply our model to know how much they will have in retirement. Although I hadn’t heard this question for awhile, several others had the same question this week.

They would all ask, “Chris, we know that what you teach works better, but (notice it followed by a “but”) we aren’t sure what it will eventually equate to be. What do you think?”

My honest reply was, “I really don’t know. My crystal ball is broken. I could tell you what it could likely be, but I might be limiting your expectations or you may not be alive to see the bigger results. This is why we focus on generating more cash flow TODAY rather than 15-30 years from now.” Let me explain more what I mean.

Traditional Planning Model

This brings back painful memories, but it is useful to understand =) If I were a traditional planner again, and you sat down with me, I would pull out my fancy little financial calculator to “predict” your life.

Let’s say you are 50 years old, have $80,000 to work with for your retirement, and you are currently putting away $600/month. I would “assume” that you would earn 8% average in a mutual fund. I remind you that past returns does not guarantee future results. (See our video on how traditional planning can manipulate figures.)

If you were to retire in 15 years and everything worked out perfectly, you would have $457,640. To some, this would sound like a good deal of money. However, traditional planning will tell you to live off the interest (Listen to our podcast as to why they say this).

Therefore, to be “conservative” in our figures, I would suggest that you “plan” on living off of 5% of the balance each year. In this example, this would be $22,882/yr.

How many of you could live off of that? You could live off of more, but now you risk running out of money before you pass away.

But wait! A really good planner will account for inflation at 4%. Naturally, in 15 years, it is very likely that you will have to have more to live on. Your purchasing power is now only worth $254,111! That would be like living on $12,700/yr. today!

Note: the REAL inflation rate is much more. Listen how!

This was the dilema I was caught in that caused me to question if this really worked. To have at least a $50,000/yr lifestyle, you would have to put away at least $5000/month in this example! Pocket change, right? Sense the sarcasm? You could work an extra 10 years to age 75, and then “only” have to put away $2500/month…as long as inflation stays down and you actually get 8% average (which many haven’t).

Recommendations from a truthful financial plan? Live on less income, get a 2nd job, and put away more!

Our Model

Our answer? Live your appropriate lifestyle and create more cash flow TODAY thru better use of your money! Although it’s not mainstream, it’s simpler and more attainable.

For example, last week I showed one of my coaching members how to free up at least another $15,000 or more this year by using their money more effectively without having to spend more money! On top of that, as we show people how to leverage their human capital by coordinating it with their money, they realize that having a $50,000/yr. lifestyle is not as hard as they thought. This is the same thing I did to do it with virtually no financial capital and only investing a few hours of each week.

It doesn’t take a lot of money to make money, only simple creativity!!!

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Robert T Kiyosaki is a Copy Cat?

Tuesday, August 31st, 2010

Is it possible that Robert T Kiyosaki, author of the highly acclaimed financial books “Rich Dad, Poor Dad”, is a copy cat? Is he a “has-been” financial guru? We did a podcast interview with Garrett Gunderson, author of the NY Times Best Seller “Killing Sacred Cows” last year about his “New Rules to Get Rich.” However, Robert Kiyosaki will soon release his newly anticipated book “Shooting the Sacred Cows of Money.” Could this be a random coincidence? Did Robert just happen to have nearly the exact title as Garrett Gunderson’s best seller from 2 years ago?

Fortunately, for Garrett Gunderson, it’s NOT a coincidence! I personally know that several copies of “Killing Sacred Cows” were sent to Kiyosaki and his team members. So, why did I say this is a fortunate event? Believe it or not, I love the fact that Robert is doing this book. In fact, I hope he gets a ton of publicity about it. Couldn’t this be good for Garrett since his book came out more than 2 years before Kiyosaki’s? This plainly shows that Robert T Kiyosaki is a “has-been” financial guru, and needed some fresh ideas.

Kiyosaki is on the way out, Gunderson is on the way in!

Now, don’t get me wrong. I believe his “Rich Dad, Poor Dad” books have served a great purpose and inspired me before I left the financial advising industry. He has rightly deserved the attention he has gotten by being a great marketer for the last 10-15 years. In fact, I still believe you can learn some great concepts from him. However, many of his critics and fans will tell you that he offers very little in telling you HOW to get wealthy. Lately, he merely addresses the problems, and refers to his team of “Rich Dad Advisors” that offer a little bit more education than Robert does. Ironically, Garrett Gunderson’s Freedom Fast Track coaching process has offered a team of specialists and results-driven coaching for several years.

So, is Robert T Kiyosaki a fraud? No, I don’t believe so. Has he taken some of Garrett’s ideas knowingly? It’s hard to believe he didn’t with such a unique name in the title as “Sacred Cows”, especially since Kiyosaki changed it to “Shooting Sacred Cows” instead of “Killing Sacred Cows.” Garrett Gunderson is less-known despite his growing popularity, but that isn’t what really matters. What really matters is that we learn from those, like Garrett, that are in the trenches with us practicing what he preaches.

We want the real deal that’s doing it now! And apparently, so does Robert Kiyosaki.

What’s your opinion on this?

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Should I Be in the Stock Market Right Now?

Thursday, August 19th, 2010

So many people lately are asking me more frequently, “Chris, should I be in the stock market right now, or should I get out?” With governments and economies teetering on the brink of a deeper recession, more people feel uncertain about the stock markets right now.

The first question to ask about whether you should be in the stock market now or to bail out before it’s too late is:

“If money were no longer an issue in my finances, would I still want to be in the stock market?”

Your answer will vary based on how you answer this question. Listen to my reply to both responses and what I predict the stock markets will do over the next few years.

*As a reminder, to cover my “you know what,” I am not recommending any specific investments or strategies. I am merely presenting information that will help you get more clear.

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Which Financial Advisers Should You Hire?

Thursday, August 12th, 2010

Have you ever been caught in a dilemma? Have you ever been at a crossroads where you knew in your heart what was right, but afraid to take the leap of faith?

In March 2006, I was stuck between a rock and a hard place. A few months prior, my friend, Doug, and I had an argument about whether someone should invest in real estate or stocks. I was convinced that the stock market was best, even though I was beginning to have doubts. Doug finally asked me, “How many of your clients are financially independent and worry-free?” followed by, “How many of you (financial advisers) are financially independent from investments (not from commissions)?” Answering honestly, I said, “None.”

That was the beginning of a conversation that eventually got me to attend a seminar put on by Garrett Gunderson, NY Times Best-selling author of “Killing Sacred Cows” and his late partners. They asked the audience, “How many financial advisers are in the room tonight?” Since I believe I was the only one who was, I timidly rose my hand no higher than my shoulder and quickly dropped it (That was the first sign to me that I wasn’t so sure I wanted to be a financial advisor anymore). At that moment, they read an article written by a highly acclaimed financial planner, and then brought up every flaw in this planner’s “wise” counsel (some of which I will address below).

At the end of his seminar, I thought to myself, “Who would be crazy enough to teach this junk?” Suddenly, it hit me. I was teaching this junk!!! I then realized that I could no longer claim ignorance while keeping my integrity in tact. Although my business was really beginning to take off for the first time in 4 years of financial advising, I submitted my resignation that week.

Key Point - Quick action is more likely to get you quick results. I can attest to the fact that turning my back on the traditional financial industry has been a tremendous blessing in my life, my family’s lives, and my coaching members’ lives. To learn what else I discovered, listen to the podcast we posted previously, and/or see a condensed list down below.

How to Hire the RIGHT Financial Adviser
Ask yourself the following questions to see if you have the best financial adviser for you, or a salesman in a suit.

1. Do they earn commissions from your business? Have you ever noticed that the best investment many advisers recommend are often what they sell? Even the best intentioned advisers are tempted to advise you to buy only what they sell.
- Hire someone who is fee based, not commission-based.

2. Do they keep quoting figures 20, 30, or 40 years down the road? Will you even be alive then? These advisers will not teach you how to create cash in your life today, but instead, quote speculative numbers in the future. Nearly all financial advisers tell you to invest for the “long haul”…however long that is.
- Hire someone who teaches you how to create more cash flow today

3. Are they asking you to invest in their products, or in investments that are right for you? I was stumped when my brother-in-law said that he would rather invest into his own business and earn greater returns than 12% in the market (if you’re lucky). Almost every adviser or planner is guilty of this.
- Hire someone who is willing to tell you to invest where it is best for you, but possibly not them.

4. Do they tell you to take high risks if you want high returns? This is another lie! How can a higher chance of loss give you a better chance of winning? If this were true with money, you should ignore all financial products and only invest in lottery tickets since those have the highest risk of loss (FYI - I obviously don’t recommend this course of action).
- ONLY hire someone who counsels you to take lower, calculated risk.

5. Do they tell you to invest in the market whether it goes up or down? If they are so good at what they do, wouldn’t they only tell you to buy low and sell high? Have you ever noticed that it is always the right time to put your money with them, regardless of what’s happening in the market?
- Hire those that keep you away from speculative investments.
If your financial adviser works by any of these 5 myths, or others, then today is the perfect day to Fire Your Financial Adviser!!!

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Are You Frustrated With Your Investments?

Saturday, August 7th, 2010

How many of you are frustrated with losing money in your investments and not sure where to turn?

Are you confused because you don’t know who to trust because your financial adviser makes money even when you don’t?

Are you unsure where you should be invested? If so, you’re right to feel that way!

So many times I hear people express their frustration telling me “I’m frustrated because I’m losing money in my investments and I don’t know what to do or who to trust!” To that, my response is “Good! You should be!” It’s better to have that happen now than to have it happen to you when it’s too late.

For example, if your child were to go to a casino to gamble, would you prefer them to win their first time where they feel they have that “lucky touch,” or would you rather have them lose the first time to understand the consequences of gambling their money away? Personally, I would hope my kids wouldn’t gamble in the first place, but if they did, I would want them to fall flat on their face.

With investing, people think they’re financial adviser, or themselves, are brilliant when they make money, but then when it goes down, they want to blame the adviser or someone else. Here’s the reality: You can’t gamble your way to wealth, and your financial advisers are just nicely-dressed gamblers! They can’t perfectly predict the stock market any more than you can know exactly what will happen to you next week. The only thing guaranteed is the fact that your adviser will get paid for managing your money, regardless of the results.

The Solution: Stop trusting financial advisers that get paid to gamble it for you, and learn to control your own finances. There is a previous podcast about the best investment in today’s economy that can offer a deeper perspective on what might be right for you. The good news is that we are not going to sell you any investment. Education will make you a lot more money than ignorance.

Fire your financial adviser if they are telling you to be in it for the long haul, they tell you to buy when the market is high or low, and only invest in what they sell. Why have them gamble with your money, retirement plans, potential lifestyle, and financial freedom? Hire those that practice what they preach and believe that you shouldn’t take high risks to get high returns.

What are some of your frustrations with the financial planning advice you have received?

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How Are Financial Advisers Losing YOUR Money?

Wednesday, July 7th, 2010

How do you know whether you should fire your financial adviser before it’s too late? How do you know if you have the right one working for you? How are the wrong ones costing you money and you don’t even know about it? What are some simple questions to ask when interviewing for the right financial advisor or planner?

Chris Miles and Dale Clarke expose how financial advisers are costing you your retirement and your ability to have the life you dream of today. Learn a few fast questions to easily know if you have the right adviser or the expensive adviser, and which ones can help you create wealth today, rather than wishing for retirement someday.

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How Can I Invest When I Have So Much Debt?

Tuesday, June 29th, 2010

How can you invest if you have so much debt or don’t have money to invest? How can it be possible to still make money and pay off that debt when you don’t have any money? What investment have you possibly been overlooking because financial gurus never teach it to you? Learn some easy strategies, from “The Anti-Financial Adviser” Chris Miles, to begin making money today, even if you have a lot of debt or little money to invest.

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How Do I Create Passive Income?

Tuesday, June 22nd, 2010

How can you create multiple income streams so you don’t have to work everyday? What are 3 ways you can do this even if you don’t have any money? What are the myths that keep most people from ever accomplishing this that those other “gurus” won’t tell you?

Learn from Chris Miles “The Anti-Financial Adviser” how you can easily turn this ideal situation into reality and avoid the traps that usually keep people from ever making this work.

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