D9: Don't let the chaos of investing Stop you!
Title:
\nThe chaos of investing
\nDate:
\nTuesday, May 24th, 2022
\nDomain:
\nBUSINESS
\nLife lesson:
\nYou get what you pay for.
\nCore idea:
\nI am concerned that people may not invest because of the complexity of choosing what and where to invest and deciding to do nothing or make irreversible mistakes.
\nFact #1:
\nWHICH WAY DO I GO?
\nDiscuss why investors are confused with too many investment options
\nToo many places to invest
\nToo many investment tools
\nThis leads to chaos and complexity.
\nPeople settle for an inferior offering because researching the investment landscape is too complicated.
\nObstacle:
\nSettling for the least expensive option.
\nStrike:
\nGet help from an advisor who has a legal obligation to educate you on the industry to hit quarterly revenue targets for their company.
\nFact #2:
\nTHE PITCH: LOW-COST ELITE VALUE=LIE
\nExplain why the bill for cheap always comes later.
\nNutrition is a good example.
\nOne fast-food meal a day may seem insignificant.
\nBut, one fast-food meal a day over 365 days will lead to consequences.
\nIt was just one meal a day. Cheap and convenient.
\nYou have to miss work and risk damaging your credit due to medical bills and mounting debt.
\nObstacle:
\nThe sales pitches for cheap are getting better and better.
\nStrike:
\nRemember: Cost is the absence of value. Don't expect high value if you are paying the bottom dollar.
\nFact #3:
\nMEASURE TWICE, CUT ONCE
\nDon't buy the prescription without going through the exams.
\nHere is where the cheap and free firms thrive.
\nThey get you in with the low-cost cheap option.
\nThey make you pay dearly for the free entrance.
\nIt's similar to the gambler who said he got a free buffet at a casino and lost 5k gambling.
\nObstacle:
\nFalling for the price comparison game and entering into a destructive arrangement.
\nStrike:
\nRemember what's at stake. Don't discount your financial security and your future. Hire right the first time.
\nFact #4:
\nCAN'T SEE THE FOREST FOR THE TREES
\nShoot for a win/win relationship
\nRemember, businesses have expenses
\nTrying to discount your financial advisor is like negotiating with an anesthesiologist to lower your fees.
\nIt's not a good idea.
\nIf you want a good product/service and receive a good product or service and want that company to stay around, you will have to pay what they are worth.
\nObstacle:
\nThe forest is an investor's financial security/goals. The tree is the cost.
\nStrike:
\nFailing to see the advisor-client relationship as a relationship.
\nRevelation:
\nCost is a problem in the absence of value. Advisors will go above and beyond for those who value their work.
\nAction:
\nshoot podcast
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