Keeping a Critical Mind when Financial Advice is Given

financial-advice

Since we have been starting looking into real estate, we’ve been eager to get as much knowledge on it as we could. So when the opportunity presented itself to go to a seminar on real estate investing by Kevin Green, we knew we had to go. And oh yes, they were VIP tickets. Free of charge… We definitely couldn’t say no to that.

This seminar was last weekend, and we had high expectations of it. Although Green is an authority in his field, he didn’t quite live up to those expectations. Still, we had learned a few things along the way and met with some interesting people again. I hoped to get out a detailed post about all the nice gems we had acquired last Saturday. But it turned out to be a little different. Instead, it got me thinking about why it’s so important not to just believe everything you hear, but keep a mindset of asking a question and try to understand it.


First off, let me tell a very short background on Kevin Green. He is a multimillionaire who began with nothing, started investing in bullion and real estate in the UK, build up a successful business with it and is now sharing his experience with many others as a wealth coach. It sounds like a rag’s to riches story, and it is. He worked hard to get in the place he is in now. And with owning over 1600 properties, he sure knows what he is doing. We hoped to get to know more about some strategies and what to look for when buying a property.

But to be honest, we’ve never heard of hem before we even got to that seminar. Because of that, the seminar itself was a little different than we expected. And although we didn’t fully get to what we expected. We were taking home some interesting pieces that will help us going forward. But the key message of that day was, follow these steps exactly how I say it, and you can build up wealth just as I did. I’m always feeling a bit dubious when I hear people say, do this and that exactly in order to succeed. The truth is there is not 1 formula of making money, or start with investing. It’s important that before
you step into something, you know what it’s about. And what other alternatives there might be.

Following the path to success 

Kevin Green isn’t only a successful investor in real estate, but also in bullion. Like in silver, gold and other precious metals. Additionally, he even got into gemstones.

He had structured the day in a few topics that covered all of his businesses, and as to why he became so successful. And in doing so he would share his so-called rich rules, which are his way to success. The first few hours was all about real estate, which was pretty interesting. As the seminar moved forward, it dawned on us that we became more critical by the hour. The original uptake on this blog would be about all kinds of strategies involving real estate. But even more important was to make sure to all of you how important it is to keep questioning everybody, no matter how many millions he or she has in the bank.

There were some points on what he said that stuck with me over the weekend. The first thing was that a couple of his points being said was missing the relevance to the Dutch situation. Regulations and taxes are causing opportunities and restrictions, depending on where someone is located. Therefore the nuances of his story weren’t actually right. Rather, they were fitting his own personal situation at best.

Furthermore, there was being given advice on how to invest and in what kind of assets. Again this was being made from a personal standpoint, so this wasn’t based on facts but just an opinion. One example is that ETF’s would have to much risk to invest in and should be avoided at all cost. There was very little info given about this asset, and the listeners weren’t given the room to weighing their options.

Still, he had every right to do so, this was his story. And it was great to listen to. On the other hand, I always want to know the story behind the story, and how I can integrate into my own situation. The problem here wasn’t Green telling others how to invest, but the listeners not asking the right questions for themselves.

Don’t believe everything you hear

Bottom line is that many things that were being shared that day, a lot of them good. But many were not fit to the Dutch or to our personal strategy. And we can’t blame him. We didn’t fit his target group. And he told us upfront about how he was going to share his story about how he got rich in his way. But it also made me clear how easy it is to influence people, who don’t have the knowledge about investing and finance like we do. Especially if they are looking for ways to get rich quick.

I do want to make clear, that there were a lot of interesting things he said, and I believe he could really help people getting forward. But it isn’t the best thing for everybody. Investing in gold may work for you, and it may not. Important thing is to keep asking questions and form your own personal strategy that fits your values.

Consumers in general, have had faith in financial advisors, only to realize many years later they didn’t always have had their best interest at heart. In many ways, people don’t have a lot of faith left in the financial industry. And there are a lot of other persons, like coaches/instructors/trainers who want to help people get up on their feet again. Helping to start up generating an income stream or an own business. Who are we to say those so-called experts by experience know it better than the financial advisors we so gladly criticize when we can? Aren’t we, ourselves, the only people to blame?

Just don’t follow blindly, when they’re telling you to go left. Think ahead before opening a certain door, while it may be hard to close them again. Don’t shut them down though. Let others guide, inform and inspire you. But above all, keep asking them questions. So, in the end.. You’ll know you’re are getting ahead.

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9 thoughts on “Keeping a Critical Mind when Financial Advice is Given

  1. A very wise post today guys! You have to remain critical and not assume everything that’s being said is right. This is a very healthy attitude!
    Anything from last Saturday that’s also of interest to us?

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    • Thanks. The key take from the seminar (on real estate) was how to find undervalued properties. By finding those that are threatened to be repossessed. And how to accelerate buying more properties.

      Going to publish something about it, but wanted to wait for a meetup I have tonight regarding the same subject 😉

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  2. I think it’s important to understand that everyone has their truth and there are many ways to get one thing done. The ever old debate of buying vs renting or cash vs finance comes to mind. Just gotta get all the resources together and make the best decision based on ones truth. Very wise and valuable post.

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  3. Great lesson: always ask questions and meet many people before making up your mind.

    You are really in the real estate knowledge build up phase! I hope you can find the right property to get started.

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  4. Great post and the message is the same for many other areas of life. You are always responsible for the decisions you make. At the same time every advice you receive, every story you hear will eventually fit together in your mind so you can make the best decision. So I’m sure this presentation also had it’s own value and I’m looking forward to read about those too! 🙂

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