Many of you, particularly those of you who attended Harv Eker's Never Work Again seminar, have asked about the adviseability of specific investments. I am not an investment advisor, so I would never provide specific advise about whether or not to purchase a specific investment. But there are some fundamental guidelines to follow when evaluating investments. We have been over several of these guidelines during our three teleseminar sessions. Here is a sample quesiton.
Jeta asks:
Q: I''m involved w/ the Financial Freedom Now thru the Never Work Again workshop. I have the opportunity to buy land in Costa Rica. It would mean I''d need to redeem shares from investments w/ a fee to do so. I don''t make a lot of $ at my day job, so I''m not sure of any other possible solutions like a loan or something.
A: It is always tempting to rush into an investment that seems so good that if we don't take advantage of it, we will always regret it. I strongly advise against this practice, no matter what the deal. The reason is simple. In the words of my friend, Dolf deRoos, "The deal of the decade comes around once a week." There will always be great deals. More important is investing within the context of our own personal wealth strategy.
When we have determined what type of assets we want to use to accumulate our wealth and we have determined the investment criteria for our investments, then deciding on any investment is a simple matter of applying our criteria to the investment. This method of investing is far superior to the haphazard investing most of us do. The difference? Strategy. Strategic investing, following our wealth strategy, will result in the best and fasted accumulation of wealth with the least amount of risk.
Keep working on developing your personal wealth strategy and feel free to send in questions to cs@provisionwealth.com.
Warmest regards,
Tom