Does the thought of money stress you out? Do you feel like youre living paycheck to paycheck, barely making ends meet, and wondering if youll ever be able to save for retirement and live comfortably? The key to financial freedom may be as simple as changing the way you think about cash. Best Selling Author Cassie Parks just released her new book Manifest $10,000 and she joined us to share ways to change your relationship with money, and live a happier and more comfortable life.
You can learn more about Cassie and where to find her book at Manifest10K.com.
KUCHING: Marco Robinson has made his name as a multi-million dollar property investor, No 1 best selling author and award-winning entrepreneur after decades of struggle and disappointment.
Marco will be conducting his free Seminar Live in Kota Kinabalu, Sabah at Hilton Kota Kinabalu today (June 3).
He is on a mission to help Malaysians change their lives by sharing his story and the unorthodox tools to achieve financial freedom through workshops and boot camps conducted under The Wealth Revolution Group he founded.
No stranger to public speaking and the motivational talk circuit, he has made countless appearances in a number of radio and television networks in the United Kingdom and the pages of renowned publications such as Forbes and Bloomberg.
Robinson also owns a number of businesses operating under his global franchise NAKED. They include companies in the travel, food and beverage, property, cosmetics and entertainment sector. They are part of the New Rich List – an accelerator programme for startups – based on his patented cryptocurrency, NAKED dollars (NKD$).
The cryptocurrency is based on the blockchain technology. NKD$ will enable loyal consumers to save money on their usual spending habits. It will also earn them rewards on every purchase from companies under the New Rich List umbrella.
His greatest success though is being able to give houses to the underprivileged and persecuted to give them a chance at living a full life.
He recently completed filming ‘My Great Property Giveaway’ with Channel 4 in the UK (prime time 30 million viewers) and spent the last 12 weeks searching for people most deserving of a brand new home.
This show is the most important documentary on affordable housing ever produced and televised.
Robinson was the only person willing to offer one of his properties, mortgage free, to a deserving underprivileged family.
He has also helped a beautiful Syrian family find sanctuary and peace.
Robinson’s journey to financial freedom began in direct sales.
In 2000, a twist of fate saw him lose his job as projector director for one of the biggest public companies in Malaysia, his marriage collapsing and suffering a heart attack at the age of 29.
With nothing but a beat up Volvo and laptop to his name, Marco wrote his first book titled ‘Close the Deal amp; Suddenly Grow Rich’. It chronicled his life as a salesperson and went on to become a #1 Best Seller.
Dumbfounded by its success, but barely surviving on its royalty, Robinson began asking himself how he could turn himself into a millionaire.
The possibilities were infinite but it was not until a year later when the light bulb in his mind went off.
Using his intuition to guide him, history to forewarn him and open mind to constantly push him, he made a personal fortune of US$12 million in 2009 from developing the first Vacation Incentive Company in the world which attracted big clients such as Citibank, BMW, Mercedes and many others.
His second book ‘The Financial Freedom Guarantee’ is an award-winning retirement plan that outlines the strategies he adopted to amass his fortune in property.
At a glance, Robinson’s life may seem like a whirlwind romance with fate and fortune, but his undeterred vision of always setting a new height – and reaching it – is what propelled him to the level of financial freedom so many strive for, but few succeed.
For further information on the event, contact Suzzanne at 012-6222997 or email firstname.lastname@example.org.
More information can be found about him at www.marcorobinson.com.
At the core, however, there are basic principles that make up the essence of personal finance and apply to nearly everyone. Of the roughly 80,000 words I’ve written in this space, the ideas that follow are the ones that have the highest probability of being useful to people working toward financial freedom.
?”To achieve satisfactory investment results is easier than people realize; to achieve superior results is harder than it looks.” Benjamin Graham wrote this in the fourth edition of “The Intelligent Investor” in 1973. It is timeless.
Few people need to beat the return of broad markets to achieve financial freedom. Simply capturing the market return with low costs and a diversified portfolio will get most people where they want to be. It doesn’t require picking just the right investments, which increases your risk of picking the wrong ones.
? Saving at least 10 percent of your income throughout your working life will go a long way toward making you financially secure when paired with prudent investment practices. The later you start saving, the higher your savings rate will need to be.
?Where you can’t predict, plan. Investment returns, life expectancy and health-care costs are among the many influences on your life you can’t accurately predict. But you can plan for a range of possible outcomes and give yourself a solid foundation to make decisions from as you move through life.
The journey to financial freedom starts and ends with saving and investing. A few trust-fund babies and entrepreneurs apart, the only way to walk this path is to spend less than we earn and put the difference to work.
Ahigh income alone does not guarantee a secure retirement. Sports Illustrated drove this home once when it reported that 78% of NFL football players and 60% of NBA basketball players suffered financial stress within five years of retiring. There are also plenty of tales about film and pop stars who ended up broke, and lotto winners now on the dole.
These celebrities don’t just succumb to lavish lifestyles, they fall prey to elementary investment mistakes. The specifics may differ but the themes underlying these failures are as universal as they are avoidable.
Unfortunately, we are all susceptible to the same pitfalls. Here are a few personal case studies from individuals who learnt the hard way.
My RA: high fees, not enough risk
Chris: “As soon as I started my first job, I took out an RA. The broker recommended a “medium risk” portfolio and locked me into a 15% pa premium increase for the next thirty years, “to keep abreast of inflation”. The R1 million illustrative nominal maturity value at age 55 seemed like a fortune at the time.
He made no mention of any early termination “penalties”, and did not speak about fees (above 3% pa). Even if he had, I would not have considered how they would reduce my maturity value (by 26%). I also did not think about the purchasing power of R1 million in 2018 and how investing in a medium rather than a high equity portfolio would diminish my long-term return.”
Like so many other uninformed investors of that time, Chris was duped into buying an inflexible high cost, low return savings product that would barely pay back his premiums one day, adjusted for inflation. Projecting the maturity value in nominal rather than inflation-adjusted terms created a false sense of future wealth.
Today’s young investors are much better off. There’s a load of financial education online, warning of these risks. They are also not limited to life insurance; many asset managers now sell RAs direct to the public, at much lower cost, on flexible terms and without punitive early termination penalties.
My discretionary savings: inadequate diversification, discipline
Richard: “My discretionary portfolio holds my favourite shares, very much “buy and hold” stocks with a solid long-term growth record and decent dividend yields. Although I spread my money across industries, countries and currencies, it proved to be insufficiently diversified. The collapse of the MTN share price left its mark.
I also own preference shares, which delivered a tax-free cash flow until the government started taxing dividends, impairing both their income and capital value. I have also not been disciplined in reinvesting dividends. My portfolio has grown decently over the years, but nowhere near the average market return.”
Buying individual shares is a mug’s game. The chances that you’ll load up on Naspers at R40 and hold on all the way to R2 000 are slim; the risk that one or more of your stocks bombs is enormous.
Certainly, as far as your serious money is concerned, the lesson is to avoid stock-specific risk and invest in a broad index fund instead. Even the smartest professionals cannot reliably beat the market, so there is no reasonable hope for hobby investors.
My pension fund: failing to preserve
Declan: “On leaving my former employer at age 29, I cashed out my retirement fund and bought a car. What I didn’t consider was that this would not only cost me my savings, but also the future return thereon. This money would have grown six or seven-fold by retirement. Cashing out has taken a big chunk out of my pension and makes for a very expensive car.”
According to industry surveys, between 70% and 80% of employees don’t preserve when they change jobs. Younger employees, especially, are full of hubris that they have time to make this up. They don’t appreciate the long-term value of those early savings. For example, in the context of a diligent 40-year saving plan, the first two years’ contributions already fund 10% of your pension.
The sensible option when you change jobs is to transfer your savings to your new employer’s fund or to a preservation fund. This preserves not just your savings and tax benefits, but also keeps your money growing, until you do claim.
According to surveys, our single biggest regret at retirement is that we didn’t save more. Fortunately, that risk is under our control. Investing also invites regret. Wherever we put our money, there is always another stock, another portfolio or another strategy that, with hindsight, did better. Some regrets are avoidable though, namely those that relate to taking on unrewarded risks:
Inadequate diversification (over-exposing your money to individual investments);
Going too conservative on your asset mix (long-term investors putting too much money into defensive, low growth assets);
Market timing (deciding when to move money in and out of cash);
Manager selection (investing with fund managers who underperform);
Over-paying on fees (more than 1% pa).
Fortunately, it’s possible to exclude ALL these risks simply by investing in a broadly-diversified, low cost, high-equity index fund and holding on for the long-term. That’s Warren Buffett’s “best advice” to investors.
Isn’t there a better way? I’m so glad you asked, hypothetical and morally dubious, reader.
There is no shortage of people willing to tell you just how to get all the money with none of the work; these charlatans peddle whatever trendy tincture or tonic or phone app or low-calorie dessert they can find and hoist them upon an unsuspecting public that didn’t even know what a “goji berry” was until they found out they were going to die without drinking four glasses of goji juice a day.
These people are not to be emulated. If you spend your days chasing fad after fad you’ll never achieve the kind of financial success that only traditional entrepreneurship can offer.
And by “traditional entrepreneurship” I mean “phone scam.”
Is there a more time-honored tradition in the history of these United States than the phone scam? At least, in the post-phone period, anyway.
Now, I know nothing about how to operate a phone scam; fortunately my home has recently been the recipient of one very determined scammer’s efforts.
How determined? After returning from work on Saturday night I checked my often-neglected answering machine. Five new messages, all within a 20-minute period, all from the same caller.
Clearly, this scammer has it all figured out.
Using my scammer as a template, we can walk through the steps necessary to ensuring your financial freedom via telephonic fraud. Don’t worry, there aren’t too many steps; the last thing a potential phone scammer wants is to do a lot of “work.”
Step 1: Hamburglaring
Technically speaking, phone scams are highly illegal and punishable by incarceration and fines that put your student loan payments to shame.
So you’re going to need to look the part.
Gather a large reversible cloak (black and yellow), a Lone Ranger-style mask, a large brimmed black hat and, most importantly, a black and white horizontally striped jump suit.
I cannot stress the importance of the jump suit enough. If you’re not full-Hamburglaring by your first scam phone call you might as well throw in the towel and go get an “education” like a chump.
After your costume/uniform (costuniform) is complete, remember to surreptitiously glance over your shoulder every few minutes. That way anyone within eyesight can immediately tell that you are a high-powered criminal genius and must be taken seriously.
2: Robots = profit
With your costuniform ready the next step is getting a robot to make all the calls for you.
You didn’t think you’d have to actually sit there and dial all the numbers, then … TALK to the people on the other end? What is this, a job?
Head over to the least reputable website you know and start posting that you’re looking for an autodialer. Respond immediately to anyone that wants to set up a meeting.
The seasoned autodialer salesman will pick a safe spot for the exchange, like a police station. Don’t worry about law enforcement and agree to the meeting.
Remember what all those hippie lawyers have said for years: if they’re a cop they’re required to tell you, show up in uniform, and give you a solid 10 minute head start before any kind of “arrest” can legally occur. And hippies are never wrong about the criminal justice system.
Step 3: Script, script, script
Now comes the hardest part: writing the script for the robot.
This is your chance to be creative! Do you want to pretend the robot is some wayward grandchild requesting bail money with their only phone call? Sure, you can tap into that sweet, sweet Social Security money those greedy old people horde, but you’re limiting your pool of customer-victims.
Take a page from my scammer’s process and, instead of a familial ruse, opt for a mispronounced government agency without the proper prepositions.
My scammer elected to claim they were with “IRS” and “I owe money to IRS.” Brilliant. Since no one in the United States has ever said “IRS” without a preceding “The” you know that you’re dealing with an all-star team of international phone scammers that are collecting cash from scared citizens and mispronouncing government agencies all over the world!
Step 4: All the money
You’ve got your script, you’ve got your autodialer, you’ve been practicing your Hamburglar cape twirls and can do at least three in a row before falling down: now you’re ready to start making all the money!
But what to do once you have all the money? Your first thought may be “where can I keep all the money?”
Mattresses, coffee can in the back yard, a large sack with a dollar sign; these are all excellent choices. But to truly take that next step into the world of phone scammery, you’re going to want to keep all the money in a bank.
Won’t the bank get suspicious?
Look who thinks they’re the Pope of Phone Scams! Yes, go ahead and keep depositing the checks with “IRS” crudely drawn over to say “CASH.” The bank won’t have a problem, the police won’t have a problem, and “IRS” definitely won’t have a problem; my hippie lawyer told me so.
All that’s left to do is regularly check the bank records by showing the teller a photo ID at the same time, every day, at the same location and you’ll be gliding down easy street in no time! Working is for suckers!
Stop playing on my phone.
Copy Editor Wes Burns is a Sunday columnist. The views expressed in this column are personal views of the writer and don’t necessarily reflect the views of the T-R. Contact Wes Burns at 641-753-6611 or email@example.com.
A McKinney credit repair company has settled Federal Trade Commission charges that it profaned federal law by lying to credit bureaus and charging customers up-front fees before providing its services.
The judicial writ subsiding the FTC’s grievance for civil penalties, imposes a $ 2.35 million civil penalty against RMCN Credit Services INC. and house owners Doug and Julie Parker. The penalty are going to be partly suspended, supported associate degree inability to pay, when they pay $ 400,000 in 2 installments at intervals 9 months of once the court enters the order.
Donaldsonville’s Juneteenth Celebration features various special guests and performing talents from all over the south such as Claude Bryant Reggae Allstars (12:30 -1 pm), DJ Derrick 1:30-3 p..), Bucket List Band (3-4 pm), Universal Language (4:30 -5:30 pm) and the Michael Foster Project (5:45-7 pm).
There will also be numerous workshops focusing on the theme of Financial Freedom. According to organizer Tamiko Garrison, financial gurus such as credit coaches, investment consultants, bankers, financial planners and tax attorneys will be on hand to discuss credit repair, investments and banking to assist families, teens and adults with securing financial freedom in their lives.
“The festival is about love, togetherness and a celebration of freedom,” Garrison said. “It is open to everyone. We have to remember our past so that we can learn from the good and never repeat the bad. The celebration is not just for the city, parish or state, it is for the world.”
For more information about the free event visit juneteenthdville.com.
A food ordering app is givingwomen in Egypt the opportunity to enjoy financial freedom.
TheMummplatform takes care of the delivery element, while Egyptian women and refugees based in the country concentrate on making delicious dishes in their own home.
“Mumm’s meals are always cleaner and better than food products you would get in restaurants as they are created with love and care,” Waleed Abd El Rahman, Mumm CEO, told the World Economic Forum (WEF).
WEFrecognised Mumm as a game-changing young company that is using digital tech to make a positive impact inthe Middle East and North Africa region (MENA) at its recent summit in Jordan