Tuesday, 8 September 2015

Avoid the Common Financial Planner Advise

Did you receive an invitation from a friend for financial literacy seminar for free? After the seminar they recruit for a MLM or financial products, usual marketing techniques. There are common financial planner advise that will not make you rich or  will make them rich thru their commissions.

Here are common advise;
1. Work hard.
2. Live below your means.
3. Save money.
4. Invest in mutual funds.
5. Diversify.

I agree on the list above that it could give a comfortable life but I'm giving you  newbie mentor advise;
1. Work smart.
2. Create money machines.
3. Make money.
4. Invest on stock.
5. Build businesses.

First, Financial planner advise to work hard, work overtime and do extras. My advise is to work smart, be productive and deliver results in a short possible time.

Second, Live below your means, I agree on this because you could not live above your means working paycheck from paycheck, better to create money machines and reap more money later.

Third, Save money. Saving will be limited only on the excess amount your expenses less in paycheck. I recommend to make money "HOW" there are many ways especially online businesses are possible for small amount of money. How-to-create-another-source-of-passive.

Fourth, Invest on stocks instead of mutual funds. Learn and challenge yourself. Save yourself from fees and commissions. Spend less time on Facebook and more time on reading books. Watch my you tube channel https://www.youtube.com/watch?v=ZghPv3rvzkY

Fifth Diversify, it is applicable on handling stocks portfolio. Better to focus on a specific investment before moving to a new one. You can build a business in line with your passions. I'm developing a new applications on Google and iOS as great as PAM PSE TRACKER.

Feel free to share the newbie mentor advise.

Sincerely yours,

Jonathan I. Ruiz

P.S. If you are looking for great app in the stock market, download here: https://play.google.com/store/apps/details?id=com.athanruiz.pam&hl=en

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