Wealth Programs and Seminars: A Total Waste of Time (And Money!)

wealth_seminar

Everyone is looking for a shortcut in life. We want instant results, which is why we invented things like the microwave, fast food, and the internet. Building wealth, unfortunately, isn’t that easy. Unless you were born with a silver spoon in your mouth, chances are good that you’ll have to put in a considerable amount of time and effort into making this a reality.

Sell the Dream

Anyone looking to make a quick buck will soon find themselves parted from their money. In today’s society, there are a ton of these impatient (and impractical) people, which is why casinos and the lottery exist. They don’t sell you any real product, just a dream…

But what a BEAUTIFUL dream! Who doesn’t want infinite wealth and cash flow? To be able to travel anywhere in the world. To be able to play golf all day long. It’s the stuff of fairy tales.

So, along came the “wealth gurus” who’s real mission statement should read: “To hustle away from you, as much of your money as possible!”

Total B.S.

Am I anti-wealth seminars? Anti-wealth gurus? Absolutely! Unless they are FREE events or FREE services, I’ll never believe that their true intentions are to help out other investors. If they truly cared about you, deep down inside, they wouldn’t charge you such outrageous fees. Want an example? There’s an introductory wealth seminar for getting started in real estate investing that exists out there, which costs $20,000. During the first day’s instruction, they teach their students to call credit card companies so that they can ask for a credit line increase. They even provide a script to help guide you through the process. At the end of it all, you should be able to open up a credit line for about $20,000. If you don’t succeed, they have you try it on multiple credit cards. Why do they have you do this? So you can sign up for more classes! The purpose of the increased credit line isn’t to help you fund an initial investment. No, it’s done for you to invest more money into their useless programs!!!

Real Advice

B.S. like the above makes my blood boil. It’s so unethical and wrong. You want the REAL truth?!? It is possible to attain wealth through investing. There are many investments that can take you there, but most people focus on stocks or real estate to help turn that dream into a reality. These asset classes are the most accessible to the common everyday person.

If your’re just getting started and need help and guidance, do not fret. Thanks to the internet, all the good ideas and information are floating out there, free of charge!

Dividend Investing

If you want to get started with dividend investing and are unsure of what stocks to buy, or how to evaluate a company, please refer to the following links:

Seeking Alpha -Great articles and community. To get started, check out the “Dividends” section. Go through the articles, and read the comments. Do this for a month or so, and let the information soak in. After some time, you’ll get the hang of things, and learn the language of a dividend investor. Want to meet real gurus who have succeeded with dividend investing? They’re on this site! They participate regularly, contributing articles/comments. All this real, valuable information is absolutely free of charge!

Need more visibility? Want to see others who are actually on the journey, trying to reach financial independence? Check out the following awesome blogs. See for yourself… real results, real transactions, real struggles/challenges faced:

Passive Income Pursuit

Dividend Mantra

Compounding Income

All About Interest

Dividend Growth Machine

Hello Suckers Investments

Accumulating Assets

Dividend Growth Investor

Real Estate Investing

If you want to get started with real estate investing, skip the seminars and go here instead:

Bigger Pockets -Hands down the best website out there for real estate investing. Similar to Seeking Alpha, it features a wonderful community of educated and successful real estate investors. You want to get some bang for your buck? Join the forums and start participating today! You’ll even get that buck back…

Similarly, here are some awesome blogs of other real estate investors on the journey to financial bliss:

InvestFourMore

The Buy and Hold Guys

Pay Off My Rentals

Financial Independence

We all want financial freedom in life! And nobody gets there following “gurus”, who only get there themselves using your money! Be inspired and motivated by real people. Follow others who are actually worth following:

Leigh’s Financial Journey

Afford Anything

Reach Financial Independence

Extreme Early Retirement

Financial Samurai

Retire By 40

Summary

It amazes me how much money some people are willing to shell out to indulge on a dream. Just like with playing the lottery, your odds of succeeding through wealth seminars and gurus are less than a fraction of a percent. Most likely, you’re even setting yourself back a few years. $20,000 for a one hour seminar? Are you freekin’ kidding me?!? Go invest that money and buy some quality dividend stocks… or invest it in a rental property instead. $20,000 is basically your downpayment for a $100,000 property that will cash flow from Day 1!

You want to get rich? You want to become wealthy? You want financial freedom? Then wake up from that silly dream because it doesn’t happen overnight!

Don’t be naive. Get educated. Network with other investors and put a plan into place. Be patient, and good things will come to you in time. Just like with everything worthwhile in life, you won’t get any results if you aren’t willing to put in the work.

Nothing comes easy. Nothing comes free. Now go out there and make it happen!

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12 Comment authors
Putting the Clamps on GreedtheFIREstarterCurtis@PayOffMyRentalsFinancial SamuraiLeigh Recent comment authors
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Mark Ferguson
Guest

Thank you for the link to my site (investfourmore) and I appreciate the kind words. Your right on sending people to bigger pockets as well. Nice article.

FI Pilgrim
Guest

What a glut of awesome information! Maybe YOU should start doing seminars? Only $10k? I kid, but seriously, great post!

Fast Letter
Guest

Unfortunately common sense isn’t so common, and gets ignored once a persons greed kicks in. It is incredible what people will do to, “get rich quick.” Usually, those people don’t have any money anyway because they are leveraged to the hilt to buy toys they can’t afford. It’s sad, but it happens everyday. Have a great day

The First Million is the Hardest
Guest

I couldn’t agree more. My boss took us to one of those types of seminars last year. The whole thing felt so scammy, promising people they’d teach them the “secrets” of wealth creation if they’d just sign up for whatever private course the speaker was pitching.

The sad part is, people eat it up. Too few people want to put in real work to get their money working for them.

Martin
Guest

Fighter, thanks for listing!
I think everyone already knows that these wealth gurus are BS. And if they are free, then they are usually pitching for some BS 🙂
I remember once in Denver (many years ago) I went for a free seminar on how to trade stocks and make thousands of dollars in a few months. It all sounded nice and tasty until you were told that to get those results you would need to attend more seminars and purchase their platform for some unimportant miniscule nothing such as $7,000 and if you had a credit card you could use it, because in six months you would have the money back and if not, they would refund you 100% guarantee… yea, sure, blue from the sky. I left laughing away, but saw a long line waiting eagerly giving them their credit cards.

JC @ Passive-Income-Pursuit
Guest

The ones I really can’t stand are those that have this “secret” to get rich quick that is “foolproof”. The only way that happens is to come up with a new idea that you can make some money from and then sell that idea to others. If it was truly such a good idea that you can essentially print your own money why would you bother with telling other people?

Thanks so much for including me in this awesome list. I’m going to have to start checking out the real estate section to learn a bit more. I know you don’t want to self-promote but yours is a good one too.

Vernon Davis
Guest

Very good post. I agree 100% with everything said.

-Vernon Davis
BuckleDownFinance.com

Leigh
Guest

Thanks for including me! I love that the internet allows us to anonymously show our journeys on something like money that most people don’t really talk about. I hope talking about my journey helps some people!

Financial Samurai
Guest

Are those seminars THAT expensive? Seems really ridiculous if so. And if so, KUDOS to the seminar speaker for having the sales skills to sell the dream!

theFIREstarter
Guest

I think with this sort of thing often the scammers tend to seek out their marks, people who may have a little money tucked away but are otherwise would have no inclination to even seek out investment opportunities. This works in the scammers favour as these people then also have no inclination to have a quick look online to see what else might be out there, so their choices are effectively “This one amazing opportunity” or “Nothing”. Really stupid especially in this day and age of the Internet…. However I have a feeling that the Internet may have even helped the scammers out… with their extremely high profit margins they can obviously afford to buy a ton of google ads that put them at the top of search engine results pages. Again the untech savvy will just assume they are a trusted source as they are at “the top” and think that thousands of other people are using and trusting that service… when the reality is obviously the complete opposite.

Yea so anyway I think if you have done some legwork and sought out information yourself you are far more likely to find genuine (and normally free) info, as opposed to someone seeking you out (via google ads, cold calling, whatever) who is obviously trying to sell you something.

Self proclaimed gurus make my blood boil as well. Especially the ones that you can spot a mile off (or within about 2 sentences of reading thier drivel) and you think, jeez… does anyone ever fall for this?! But they must do as there are so many of them about!

A real shame!

Thanks for all the links FI, I hadn’t heard of Seeking Alpha so will check it out.

Curtis@PayOffMyRentals
Guest

Very nice post!

It’s sad that there are many people out there who are actually addicted to these seminars. While I read lots of books (cheap compared to a real estate investing seminar), I really benefitted tremendously from the plethora of FREE information on the internet. You’ve made a very good point about the wealth of information available. But eventually you have to put it into practice and avoid “analysis paralysis” http://en.wikipedia.org/wiki/Analysis_paralysis

Thanks, FIFighter!

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