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I hope you’ve had a chance to sit back, relax somewhat, and re-energize yourself from what’s proven to be a hectic and stressful 2021.
I know I have.
One of the many things I reflected upon are the types of subjects and material I write to you all via this free blog.
I realized that I do have quite a bit invested in the decisions you make from reading them each week.
But not in the way you may be thinking.
The investment I’m referring to is in your well-being.
Stemming no doubt by personally witnessing just how destructive and life altering a little knowledge denied at the wrong time can cause.
A recent headline I saw drove me to the keyboard today.
Source: ABC News
You will only need a few minutes to read what I’m about to share.
I feel you may be eternally grateful you did.
Avoid this at any cost.
The greatest gift that Naomi can give you today from what she went through is the opportunity to learn from it.
So, this means that todays blog is actually a good luck story!
Yet we must revisit the past to gain the gem of wisdom it can leave us.
“In 2007, during the early stages of the global financial crisis, Naomi Halpern was fielding calls from banks and debt collectors after her money.
In the years leading up to crisis, her financial adviser suggested she invest in the share market and timber and agricultural schemes — often with borrowed money.
When the values of her investments collapsed, she nearly lost her home. In the aftermath, ASIC found that her financial adviser failed to have a reasonable basis for the advice he gave to retail clients.”
I had personal experience of this type of calamity.
I reckon quite a few of you have too.
Sure, 2007 was a long time ago now.
But people don’t like you when you owe them money. And for Naomi, she is now 60 years old, and STILL paying that debt back today.
An entire life, devastated by the advice of others. Sure, the responsibility for the decision to make these investments lies with Naomi.
But she has never looked to avoid that.
And kudos to her too, because she had the bravery to come out and share what happened.
“I can’t begin to express the devastation across all aspects of my life.
I had to refinance my home twice to claw my way out of the debt. Having paid off my home in early 2009, I am effectively paying for it again 3.5 times over. It’s rolling trauma.
My financial security remains severely compromised. The scars are still there but I am clearer, more focused, and confident in myself, as well as “stronger in the broken places”.
It doesn’t matter if you are a relative novice to the markets or a seasoned business owner with many decades of investing.
When the world is booming, your emotions start to take over. Either you’re euphoric as you have made, on the surface, ‘good investment decisions’ or you are fearful because you aren’t, and you are missing out.
“Confidence wasn’t the problem. I’d always managed the finances in my business.
The mistake I made was to accept so-called “independent, professional expertise” for tax and later personal investing.
I have not been in a position to invest since.”
Suddenly, are those so-called ‘good investment decisions’ because of the same independent and professional expertise?
At the end of the day, no-one can possibly care more about your money than yourself.
The lessons are priceless, literally!
I don’t want to end the story on that note.
But I ask only that you relate to it, either because you’ve experienced something similar or about to start your own investment journey.
I know with certainty that there is a way to avoid such heartache.
Trust me, its better to be fully aware of the pitfalls before than after.
But just how realistic is that? Naomi said as much during her story, I’ve no doubt you will nod your own head in total agreement.
“I wish I had been taught financial literacy at school and home to manage budgeting, saving, super and informed consent.
Money is still largely taboo among families and friends.
But people must understand that financial literacy alone will not protect you.
People have lost their homes, life savings, and/or retirements because of financial negligence, resulting in severe physical and mental health impacts…. it’s about much more than money”
I bolded the key points above myself.
If I could go back in time and speak to Naomi for one hour, even 30 minutes, I believe that may have been enough to prevent most of this.
But that’s not happening.
All I can do is in the here and now, and so that’s my focus.
And I am laser focussed because I know with 100% certainty that Naomi’s story is going to happen again.
I know why it will happen again, I understand the consequences clearly of such an event and most important of all, I know when it’s going to happen next time.
You must educate yourself. There is no alternative.
So, start right now. Make 2022 the year it all changes for you. Become a member of the Boom Bust Bulletin (BBB).
It will teach you the history of the 18.6-year Real Estate Cycle; why it repeats like clockwork around the world and explains the opportunities those in the know can take advantage of.
We are literally about to embark on a 5-year journey of wealth creation that will dwarf everything that has occurred in human history.
Fortunes will literally be made in a few years’ time from today. However, 90% of those same people will end up given all of it back AND more.
Why? Simply re-read this blog!
Don’t risk the financial future of your family, never become one of those people.
Become a BBB member and learn just how much a little education can take you.
Best wishes,
Darren J Wilson
and your Property Sharemarket Economics Team
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This content is not personal or general advice. If you are in doubt as to how to apply or even should be applying the content in this document to your own personal situation, we recommend you seek professional financial advice. Feel free to forward this email to any other person whom you think should read it.