The Five Financial Goals-Financial Education

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The Five Financial Goals-Financial Education

Financial Education-The Key To Financial Independence

If you ever hope to attain financial independence, you have to learn more about managing your money. It is all well and good to rely upon fund managers and financial advisors when you are first starting out, but you quickly want to obtain as much financial education as possible so that you can understand what they are doing with your money.

You also have to realize that their services are not free, in fact, they can prove to be very expensive indeed. All managed investment accounts have what is known as an MER (management expense ratio). Basically, that is the cost of the advice that you are being given and the trading that is being conducted in your account ‘on your behalf’.  Financial advisors and fund managers make money on your account no matter if the values are increasing, decreasing or standing still.

The High Cost Of No Financial Education

The only way that you can overcome all this potential ‘lost income’, is to create a self directed retirement vehicle. If you have become financially literate, you will likely have a mix of stocks, bonds, gold, silver, cash, real estate and other investments. Unless you have gained a broad based financial education, you are going to be at the mercy of ‘financial advisors’ that may not have your personal best interests in mind, and tend to be focused more on what you can provide for them than vice versa.

financial education

Sources Of Financial Education

There is a plethora of information online as well as seminars that you can attend, books you can read and programs to watch. I strongly recommend that if you haven’t read Robert Kiyosaki’s “Rich Dad, Poor Dad” that you do so. Once you have had a chance to digest that, then move on to Trump & Kioysaki’s book, “We Want You To Be Rich”. These books are not so much ‘how to’ manuals, but are more introductory guides that will give you the mindset that you need to get started down the path of financial education.

Financial Education – Class In Session

Even people that are financially independent realize that in order to keep up you need to become a lifelong learner. In other words, you are a student of financial education. That is a badge that you should wear with pride. Trump, Kiyosaki, Buffet and Gates are all lifelong learners of financial education, and all have enormous libraries on the subject. You need to give yourself the same kind of advantage that they have when they talk to their financial advisors.

Remember that Wall St and Bay St are the only places in North America where people who come in a limo are taking advice from people who rode in on the subway.

Our next financial goal is on Investing. Join us then…

Till Next Time….

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Sigrid McNab

Skype: sigrid.mcnab

Email: sigridmcnab@gmail.com

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About Sigrid McNab

Sigrid McNab is the author of #1 Amazon Best Seller, speaker and the CEO and Founder of sigridmcnab.com. Sigrid specializes in blogging, attraction marketing, and generating highly qualified leads. Sigrid teaches people how to build a successful online business.

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4 Responses to “The Five Financial Goals-Financial Education”

  1. Hale Yes Says:

    Loved it Sigrid and I love the new look. I think you’ll agree that it helps!
    Hale Yes recently posted…A Mantra to Help Crush Internet Marketing Overwhelm – Do It!My Profile

    [Reply]

    sigrid Reply:

    Thanks so much for the great advice for the new look Hale. It is much appreciated!

    [Reply]

    Reply

  2. Dagmar Wichary Says:

    I also love it Sigrid,both books are excellent to read too.

    [Reply]

    sigrid Reply:

    Thanks Dagmar!

    [Reply]

    Reply

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