The Biggest Secret To Wealth
On a scale of 1 to 10, how confident are you about your financial future?
If 1 is very low and 10 very high, most people will answer with a lowish number. And in reality, a lot of people who answer with a high number are actually not in the position they think they are.
When it comes to being money smart, the truth is you don’t have do be highly intelligent to be money smart. For most people, the reality is their financial literacy is low simply because no one has ever taught them what they need to know. And for those who are overconfident, it’s often the case that their belief in their financial smarts is based on only ever having received half-baked or incorrect information.
Sometimes people mistake get-rich-quick schemes as clever, and by the time they realise that no get-rich-quick schemes work, it’s cost them a lot of money!
The financial services industry is flooded with high-priced and overly complex products designed to look really fancy and promising all sorts of things. But studies have shown over and over again that lower-priced and simple products work best.
Often, people (and even financial advisers) base their decisions around products, rather than making sure the strategy is right. Get the strategy right, then find a suitable product that suits the strategy. Seriously, none of this is rocket science, but for the average person, trying to see through the smoke and mirrors can be daunting and confusing.
Like in many aspects of life, trying hard to be too clever can often lead to not-so-smart choices.
We’re passionate believers that what’s simple is what works. Get the basics right, put your financial building blocks together in a logical order (often people leave out key building blocks or put them together in the wrong order) and things will work out.
If you think your money smarts could use some improvement, then perhaps it’s time to take some action, as time is your best friend. Our program is built on a belief that financial advice should be combined with financial education. That’s because the most important test people should be able to pass is the ‘sleep at night’ test. If you understand what you are doing and why, then it’s a whole lot easier to stay committed to a plan.
In our experience, we’ve seen people who’ve been bamboozled by all sorts of fancy things and they either blindly move forward with something that could be leading them further away from achieving their goals, or they give up and put things in the too hard basket. Both are terrible outcomes.
We’ll let you in on the greatest wealth secret there is… The key to wealth isn’t smartness, but simplicity.
So, if you don’t have a clear and simple action plan that is leading you towards achieving your long-term financial goals, let’s change that! And if what you already have is overly complicated let’s change that.
Your financial future is too important to not get right! Let’s make sure you can be confident about yours.
Cheers,
Dan and Dave
