This Money Advice is for Dummies

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Partial Transcript

[The following is a partial transcript of this episode of The Scott Alan Turner Show. Listen to the full episode to hear this story, listener questions, money hacks, and inspiring stories of people that are changing their financial lives. Subscribe to the free podcast on iTunes or Google Play]

In This Episode

  • Why are people buying investing advice from people that disclose they are neither licensed nor qualified to provide investment advice?
  • The secret to a long and happy life is ‘so simple’ according to a 95-year-old billionaire.
  • Warning about waiting to fix your finances.

Listener questions:

  • What are your tips for finding a business to start (Chuck)
  • I just turned 50 and don’t know where to start saving for my retirement (Jacqueline)
  • What do you think about crowdfunded investing (Daren Rochester, NY)
  • I make $35,000 and want to live a decent lifestyle (Trisha)
  • What are the differences between mutual funds and index funds (Megan)
  • Can you roll a 403(b) into a 457 plan (Gandolf, New York)

Resources/links:

FOREX Trading (is) for Dummies.

Tons of comments and feedback from the last episode on Rich Dad, Poor Dad author Robert Kiosaki calling employees losers.

Chuck:

I did really enjoy Rich Dad Poor Dad. I believe it is good for developing a business mindset but do I believe his real estate gimmicks. No lol. He is a huge proponent of debt over savings. It’s a recipe for disaster for the majority of people. And the up-sale is ridiculous!! “We teach this if you pay this” but if you really want to be able to do this then pay this” blah blah blah! I even warned a co-worker that if he goes to the free one their will be an up-sale and if he goes to that one it will be followed with yet another up-sale!! And he did both!!! Lol I think 2500 for the first sale then after that one he buddies up with someone to split the 32,000… he still has a job haha!

I’m constantly researching. I read an entire book this weekend from a ChFA.

You’ve seen the Internet ads, TV ads, radio ads, magazine ads.

Every get-rich-quick program is really a lose-money-quick program in disguise.

Think about it, check out any big investment company, financial advisor firm, financial advisors, when have you ever heard any of them say – well as part of your college planning, your house downpayment, your retirement planning, we definitely need to take 30% of your income and get you into some foreign currency trading for diversification.

Do some people make money? Sure. Some people also make money gambling at the World Series of Poker too. Like, ten people, out of the 50,000 that enter every year. Those aren’t good odds! You’ve got to know when to hold em, know when to fold em, know when to walk away, and no when to run.

Let me help you save more of that hard earned money you earned working very hard. As a hard working family.

Run! When is it time to run from FOREX? All the time. Not just in the Winter, prior to any elections, or when you’ve got a little fun money to gamble with. Run all the time.

That sickening feeling you’ve gotten in the past from being broke, or stressed out, or getting ripped off, that’s what you’ll feel like after doing some FOREX trading. It’s like a bad hangover. Just don’t drink the kool aid and you’ll win.

Here’s a blurb from the website of Jason Bond who will share with you his hot stock picks:

DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS REPORT OR WEBSITE. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice.

Wait a minute – We are neither licensed nor qualified to provide investment advice.

We are neither licensed nor qualified to provide investment advice?

Then why in the world should anyone give them money?

The information contained in our report should be viewed as commercial advertisement and is not intended to be investment advice. The report is not provided to any particular individual with a view toward their individual circumstances. The information contained in our report is not an offer to buy or sell securities. We distribute opinions, comments and information free of charge exclusively to individuals who wish to receive them.

And We are neither licensed nor qualified to provide investment advice.

Jason gave away a Porcshe to the first three students who crossed the million dollar mark in investments. So some tale of a guy who was broke and in debt to making $1,000,000 in just over two years.

Is that true? Could someone do that? 100%, absolutely. The problem is, it’s just like the lottery. You already know this, but somebody is going to win the lottery, right? And 10,000,000 are going to lose, but somebody has to win.

Just like Chris Camillo, author of Laughing at Wall Street who turned $20,000 into $2,000,000 in just three years in 2010. And then fell of the face of the Earth and has never done anything or could repeat that success again.

Even a blind dog finds a bone once in a while.

Please like, share, email the show to keep your friends + family from getting involved in this lose-money-quick scheme.

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