Last Wednesday I (along with members from our Austin Cash Flow Team) attending the Creating Wealth Summit here in Austin, Texas. An all-day event with 5 speakers giving out some pretty good information…. for FREE, no less!
Here is what we were invited to:
Donald Trump’s story on wealth creation will be told to attendees by his close advisor George Ross.
At the wealth conference you will learn:
- Buy real estate for 31%-57% below value.
- Find income producing companies.
- Slash capital gains to “0″ when you sell real estate.
- Lower your tax bill 31%.
- Learn how to cash in on the new billion dollar forclosure opportunity.
- Protect your assets from lawsuits, leins, levies, bankruptcy or even divorce.
From a few other blogs I read it seems to have gotten a lot of bad press, but actually I got a lot out of it. I will break this down in to a 5 part report, and share my notes/thoughts from each speaker.
First speaker says:
- Real estate and the stock market have created more millionaires than any other vehicle.
- Wealthy people get a better rate of return.
- “People spend more time in the restroom than they spend on their financial future”
- 60-70% of pension funds and mutual funds don’t beat the indexes. Since 1985, only 1 fund in every 25 beat the S&P500
- Warren Buffett says the layman can usually do a better job in the stock market than mutual funds.
The bottom line for stocks, is that people only think it’s “very risky” because they are not educated enough in that area to make good (low risk) choices when it comes to stocks.
I found this risk analysis chart, and thought I’d share:
|
Event |
Chance This Year |
| Car stolen | 1 in 100 |
| House catch fire | 1 in 200 |
| Die from Heart Disease | 1 in 280 |
| Die of Cancer | 1 in 500 |
| Die in Car wreck | 1 in 6,000 |
| Die by Homicide | 1 in 10,000 |
| Die of AIDS | 1 in 11,000 |
| Die of Tuberculosis | 1 in 200,000 |
| Win a state lottery | 1 in 1 million |
| Killed by lightning | 1 in 1.4 million |
| Killed by flood or tornado | 1 in 2 million |
| Killed in Hurricane | 1 in 6 million |
| Die in commercial plane crash | 1 in 1 million to 10 million (depends on airline) |
What you might want to take special note of, is that you are about 1,000 times more likely to be killed on the way to the airport than to die during the airplane flight, but the general population seems to think they are safer in their cars than on a plane. People act according to how they FEEL about something, not necessarily according to the factual data. Also, even though your risk of dieing in a car accident is RATHER HIGH, you still climb in to that car several times a day without a thought of the risk. Why?
Probably because you’ve done it so often, that you have a high level of confidence that everything will be okay, and you’ve gained some skill over the years at avoiding dangers (putting YOU at lower risk than others). Maybe you’ve chosen a vehicle that has been rated “safest in it’s class”. The list goes on.
This is the same with the stock market. Most people (the masses) don’t have much skill in picking good stocks, so when they “try”, they often fail, and then give up, telling everyone they know how risky it is!
Nothing beats a good education… well, except maybe using an exceptional tool, and of course, the first speaker says THE tool of choice for picking stocks is “Investools”. I had been using this some last year, and took a 2-day course on how to use it. It DID seem like a very good (and easy) tool. After this seminar I’ve decided to renew the subscription and spend more time with it again.
I’ll be posting the results here, so keep a look out!