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Investor_guide Fast Track Rich

Investor_guide Fast Track Rich

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Published by Elitza Anuar
simple and easy..
simple and easy..

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Published by: Elitza Anuar on Nov 23, 2010
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11/23/2010

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 1
The Investor’s Guide
 
The 7 Keys to Successful Investing & How to Avoid Costly Mistakes
 
*This guide is an educational service provided by Garrett B. Gunderson,author of New York Times best seller
Killing Sacred Cows
 
and President of Freedom FastTrack.
 
 2
 Table of Contents
KEY #1 HOW TO MAKE SURE THE INVESTMENT IS RIGHT FOR YOU .................................. 3 A. C
OMPOUND
I
NTEREST
I
S
NOT
THE
“M
IRACLE
 
S
OME
S
 AY 
I
T
I
S
............................................. 3B. S
HOULD
 Y 
OU
P
 AY 
O
FF
 Y 
OUR
M
ORTGAGE
E
 ARLY 
? .................................................................. 4C. P
ROTECT
 Y 
OUR
I
NVESTMENTS
................................................................................................ 5
D
. H
OW TO
B
E
P
RODUCTIVE
W
ITH
I
NTEREST
.............................................................................. 6KEY #2 HOW TO AVOID BEING MISLED ...................................................................................... 6 A.
SCRUTINIZE THE SOURCE
......................................................................................................... 7B. W
HAT
 Y 
OU
S
HOULD
NOW
 A
BOUT
"
GET RICH QUICK 
"
SCHEMES
............................................ 7KEY #3 HOW TO TELL IF YOU ARE INVESTING VS GAMBLING
.............................................. 8
 
 A
. D
ON
T
F
OOL
 Y 
OURSELF
........................................................................................................... 8
B
. I
NVEST IN
P
EOPLE
,
 
N
OT
P
RODUCT
.......................................................................................... 9
C
.
MANAGE THE
 V
 ARIABLES
......................................................................................................... 9
D
. T
HE
 V
 ARIABLE IN
R
ISK 
:
 
 YOU .................................................................................................. 9KEY #4 HOW TO MINIMIZE RISKS ................................................................................................ 10 A. B
E
P
ROACTIVE
W
ITH
 Y 
OUR
C
REDIT
S
CORE
.......................................................................... 10B.
NOW THE
“W
HATS
 
&
 
“W
HYS
”............................................................................................. 11C. T
HE
C
RUCIAL
X
 
F
 ACTOR
 ........................................................................................................ 11D. D
ON
'
T
L
IVE IN
F
EAR
.............................................................................................................. 12E. W
HAT IS THE
“B
IG
P
ICTURE
 
P
LAN
? ...................................................................................... 13KEY #5 DON'T GET TRAPPED BY YOUR 401 (K)/QUALIFIED PLAN ....................................... 14 A. W
HY 
F
INANCIAL
I
NSTITUTIONS PUSH
401(
)
S
...................................................................... 14B. T
HE
E
SSENTIAL
Q
UESTIONS
.................................................................................................. 14KEY #6 CONSIDER HOW AN INVESTMENT WILL AFFECT YOU PERSONALLY ................. 16 A. I
T
S
M
ORE THAN
J
UST
N
UMBERS
,
 
I
T
S
 Y 
OUR
L
IFE
................................................................ 16B. D
ON
T
B
E
S
WAYED BY 
S
LICK SALESPEOPLE
.......................................................................... 16KEY #7 HOW TO INVEST IN YOUR MOST VALUABLE ASSET: YOU ...................................... 17 A. T
HE
S
ECRET TO
I
NVESTING
T
HAT
M
OST
P
EOPLE
M
ISS
........................................................ 17B. I
NVEST IN
 Y 
OUR
O
WN LIFE
,
FIRST
......................................................................................... 17C. H
OW TO
G
ET
S
TARTED
.......................................................................................................... 18
 
 3
 
Key #1
 
How to Make Sure the Investment is Right For You
 Retirement planners today are some of the best and most talentedsalespeople. They know better than to pressure you to go with theirparticular investment preferences. That old style, high-pressure way of selling doesn’t work with today’s clients, so more subtle approaches arepracticed. These advisors will make you feel special, privileged andsmart for doing what they suggest—they’ll make you think you reallywant what they’re offering.Rather than cram the investment down your throat, they’ll usescarcity-based tactics like the “take-a-way close” where the advisor sayssomething like, “You know what, maybe this investment isn’t right foryou. I think a lot of people will make a lot of money with this, butmaybe you can’t handle the risk.” Of course, they’re hoping you’ll feellike you’re about to lose out and come back with, “No, no, I can handleit! Lets do it.” Another common mistake people make is automatically taking advicefrom family that they trust. Let’s say your nephew just became a“financial advisor” (an overused term these days) and he already seemsto know a lot about investing. Plus, he loves you and cares about you,so you can trust his advice, right? Of course he cares about you andwouldn’t intentionally give you bad advice, but as someone trained byfinancial institutions, he likely doesn’t have the understanding orproper experience to see through what his firm is pushing and whatwould really be best for you.The thing is that he himself has probably bought into what the firm iscurrently pushing, because not only is that how he and his firm maketheir commissions, but all of his sales training will have taught him toautomatically push the particular products offered by the firm.Naturally, those will be the products they want you to buy into as well.It’s not malicious, but it has lured many people into less than idealfinancial situations in the past, and it continues to be one of the majormistakes people make in the area of personal financial planning.
A. Compound Interest Is NOT the “Miracle” Some Say It Is
 

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