Congratulations, you’vemade it to the final day of our Challenge! As you manoeuvre through the topsy turvy world of investing, you’re bound to have regrets, come across some B.S. and wonder if some of the intense training and investing strategies will help you get results quickly.
1. Investing BiG Regrets
A common investing regret is not to have started earlier. For me, growing up in a blue collar family, investing was for the professionals, the wealthy.
This ties with the mistake of not being aware of the magic of compounding. If only more people knew about the work of Noel Whittaker and the many other analysts and commentators, who extolled its virtues see e.g. The Magic of Compounding Corin Jacka
Let Edith Piaf help you out!
2. Investing B.S.
Slick marketing, sales tactics and grandiose claims are common in finance and investing. Get rich quick, pyramid and other schemes and just a lack of transparency have, and will continue to trap investors. Governments through ASIC, the ACCC and others try to counter them, but are often slow, cumbersome and ineffective. No wonder respected analysts like Alan Kohler mount their own revolutions to try to prevent injustices (ie his Eureka Report Day 23 to stop the unfair commissions charged by financial advisers. Although the life insurance industry is still exempt from the recent banning of commissions – beware!).
Hence the reason we show you the Guru Cops. To help you watch out for the property, share trading, forex and other spruikers with their foolproof ‘systems’. Even the internet sales gurus who have the shoeless selling shoes online within minutes (see Day 16)!
B.S. – a given in the property investment industry John T. Reed may help!
3. Investing Boot Camps
The investing quick fix, so many claims it’s ridiculous! A recent article for a CFD trading system claimed a successful investor spent just a few minutes a day on her trades, off to yoga and walk on the beach for the rest of the day – investing done, sorted!
But Udemy’s on ‘value investing’ doesn’t look too bad!
Always more than one way to see things!
Here are two placards we saw in a street protest in London. The protestor (L), the bystander, although a tad harsh! (R). An illustration of investing mentality and attitudes perhaps!?
The whole point and goal of BiG is to show you that you that you can avoid investing traps. And that rather than getting frustrated, overwhelmed or As Mad As Hell about the investing industry – not whingeing and just getting on with investing is the better option!
During my life, extensive travel and varied working career – nursing, law, management and more, I’ve seen:
- lives cut short before people have had the chance to experience many of life’s gifts
- people working in jobs they hate or with narcissistic bosses who treat them with distain
- injustices of class and patriarchal political, economic and social systems
- people too insecure to take opportunities, for fear of embarrassment or making a mistake
What’s stopping you?
Whatever it takes for you to change those things holding you back from achieving a happier life – usually that involves more financial freedom – we hope you get some help from the people and resources that we share with you in BiG.
Thanks for joining me on the Challenge.
Love to get your feedback – email or leave a comment.
I’d also be delighted if you find BiG and my work helpful, and share it with friends, family and others who want to build on their investments. (Just click on the “Subscribe” green button to the right and be part of the Challenge and receive our updates – free!)
All the very best with your investing!
the Bucket List Investing Chick
Where we’ve been – 30 Day Challenge Blog overview:
Day 5 – Who Can You Turn to for Investing Help? People and ‘Players’ in the Investment Industry (Day 7-8 W/E)
Day 12 – Part 4 Less Regulated Advisers – Analysts, Commentators and Gurus (Day 13-14 W/E)
Day 19 – Who are the best investment gurus? Part 4| Choose a Guru (Days 20-21 W/E)