Are you broke? Do you want to know why you’re broke? No, this is not a rhetorical question. Do you KNOW why you’re broke? You are broke because of people that give you advice like Doug Legg does (Mirror – Dec 26, 2007) and the fools like him that keep printing this same song and dance garbage about saving money, and how a 401k is good for you and contribute to your IRA. All of it is crap! If you listen and take advice from these people? THAT is why you are broke. If you take foolish advice from the ungodly and the financially uneducated people you get what you deserve.
Every single year that goes by, I hear and read the same stupid financial advice on making and saving money all spewed out by broke people in the business of making money off of what products they can sell you and make a fee off of you from your investments. Charles Schwab, Merrill Lynch, Primerica and Edward Jones are only a few of the companies that are willing to pay you a small return on your money for their “services”.
Give me a break. If you REALLY want to make some money and become wealthy? Ask someone that has done it, ask someone that is already wealthy to teach you how. Play Monopoly and LEARN something. If you’re too lazy to do it yourself, find an investment club and invest into a limited partnership where you can invest your money with others as a joint venture and profit share on income producing real estate. Do not take the advice of the unwise or ungodly that are nothing more than sales people interested in making money from your ability to save money.
By the way, if some ding dong comes up to you and spouts off their education to make you feel inferior to their credentials? Look them right in the face and tell them: “An education and degrees of education are no substitute for true intelligence or the natural blessings of Almighty God in a person possessing true wisdom. You want to impress me? Promise to triple my investment every year. ”
How can you tell the difference between a broker and an intelligent investor? To start with, ask your broker how much money they made last year? (The more the better) How much did they increase their own investments and by what percentage? (Anything less than a 50% gain is a loser) How much did they pay in taxes last year on their income? (The answer you want is 0 or less than 5% of their income) Ask your broker how much debt they personally carry? ($0 is what you are looking for a house payment is max) Ask your broker how many businesses they own and what type of businesses are they? – a Sole Proprietorship? A “C class” or “S Class” business? A LLC, a LLP? (This answer will determine if their tax rate is between 0% and 60% in taxes) Ask your broker how many companies they have control of and where they are incorporated? (The more corps they own the better) Ask your broker what their bottom line was last year – was that return on investment income? (The higher the better) Or from having a job? (The higher the worse)
Anyone can have a job. The government depends upon you having a job, paying exorbitant taxes and not being educated or intelligent enough to have a business to “save money with” and legally avoid paying higher taxes. Notice I said avoid paying taxes and NOT evade paying taxes. You have a legal right and a responsibility to avoid paying as much taxes as possible using the tax laws to your advantage.
Let me tell you another secret – It’s easy for someone that has taken loans for millions of dollars to say they are a millionaire – right? I mean of course it is easy to be a person with a million dollars when you are in debt for $100 million – right? The key point is how much do they owe and how much above expenses do they make each month? How much did their own personal stock increase last year? What is their monthly cash flow income after expenses? Do they own a Nevada, a Wyoming or a Delaware Corporation as a tax shelter so they don’t pay high rate income taxes or capital gains taxes to the government before being able to re-invest the money they make? Do they own the corporation to protect themselves from broke fools and scum of the earth lawyers that see the legal system as a get rich quick scam? If you get honest answers to these questions you may be able to make a more informed decision on investing your hard earned money.
Empower and educate yourself on investing and managing your own money before turning it over to anyone else – especially bankers, brokers and panhandlers on the street corner. None of these people will be more motivated to make you wealthy than you will be. And again if you are too lazy? Join an investment club!
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