Is there a worse feeling in the world than being helpless? That inability to help yourself into a better position in life – for example due to government restriction, a disability, or societal prejudice? We have all felt this to one extent or another. When it comes to your finances – a surprising amount of Canadians have been feeling helpless for way too long. Why is this?
Financial Education Gap
There is a major gap in the workforce today. The financial world has changed dramatically in the last twenty years. Even more so in the last five with a global recession, sovereign nations defaulting on their debt, and more recently and closer to home – a pillar of the US economy – the city of Detroit going bankrupt. Getting and teaching financial education is imperative to your family’s future prosperity. Otherwise you leave yourself and those you love vulnerable to the big banks and their sales pitch. Debt in the form of loans, lines of credit, and consumer credit cards can bury the ignorant. But it gets worse before it gets better.
Saving For A Rainy Day
Up until money became nothing but a promissory note from a government to back up the currency – saving for retirement was a great idea. Today – our parent’s generation who worked hard to sock away those dollars in RSPs and GICs are losing the purchasing power of their money faster than in the history of the civilized world. Inflationary money printing by central banks is running at unprecedented rates causing that retirement fund to buy less with more dollars. The system is rigged to reward borrowers with low interest rates and punish savers with puny rates of return. Is there is a better way?
Kickstart My Wealth Creation
The best way to beat the competition is to join them. In an era of unprecedented low interest rates and credit expansion – the best way to beat the system is to use prudent leverage to earn a higher rate of return than inflation – and pocket the spread. This is what the bank does with your GIC in giving you a paltry 2-3% and then earns 17% for their preferred stockholders with your deposits. Here is how this is done with a ‘boots on the ground’ perspective. Have a look at using your registered funds or utilizing liquid capital to get a primer on the process of educating yourself of the advantages of becoming the bank of you.
Private Lender Success
The fear of embarking on a new path is usually the unknown. In exploring the idea of becoming a lender – it is important to remember that this is part of the financial education process and one that takes time. As you learn about the process of completing your due diligence and mitigating risk – your confidence level will grow to a point that you will have a relative comfort with the inner workings of managing your lending portfolio.
Of course – I am here to assist and guide you throughout the journey and my primary role is to educate and bring opportunities to your attention. You will come to find your own lending preferences and criteria as well as your expected returns. Then over time as you experience a successful endeavor – you will come to a point where you will wonder why you ever left your hard earned money in the hands of a bank to begin with. Your journey begins with a question below.
