Who do we blame?
Looking at the video above, you see families (yes, that is you and me) , banks, financial institutions, governments … I think it is safe to say it started with the consumer and ultimately it is now left to the consumer to stimulate the economy. The institutions tried to make a quick buck and failed miserably.
There seem to be a lot of finger pointing and more ways ‘to skin a cat’ than we have space to cover here. However, it's human nature to never take the blame or accountability when something bad happens.
Challenge your mindset
Shouldn't you take some accountability for your investments? After all, have the pin stripe suits met your expectations and requirements recently? Can you accurately answer any of the below (by not quickly opening your monthly post or phoning your broker
- Do you know how your equity portfolio or unit trusts are performing?
- Do you know what your retirement annuity is sitting on now compared to a year ago
Well done if you could!
You are on the path to financial independence and clearly in a position to look after your future wealth!
For the rest of us, information is key
The Dow Jones Index peaked around 380 in October 1929 and then declined 48 percent to 199 in October 1930. During the current depression, the Dow declined 37 percent between the October 2007 peak and October 2008.
As the Great Depression continued, the Dow Jones Index fell to a low of 41.2 in the middle of 1932 (a further 82%), a fate that seems unlikely (but not impossible) today, as we find ourselves in the era of technological maturity.
At our fingertips we have access to research, news, financial products and new services. Anything we desire, from anywhere in the world. All the more reason to stop making excuses and take the step towards increasing your own accountability, understanding and personal involvement around your wealth creation, preservation and the associated management.
"Rule number one in my book is: Stop listening to professionals! 20 years in this business convinces me that any normal person using the customary 3% of the brain can pick stocks just as well as, if not better than, the average Wall Street expert."
We at Global Trader tend to agree with what Peter Lynch, arguably one of the best Wall Street Stock Investors, had to say above and challenge you to use that customary 3%.
Investigating the origin of the word ‘crisis’, you would be surprised to discover that "crisis" did not originally mean a bad event, but a decision or impending decision. There is no direct opposite to "crisis" but there is for "decision" which is, "indecision". This suggests to me that whatever the crisis (as described by either dictionary or local newspaper), it is a time to choose. Now is the time to decide. Now is the time to act.
Stop hiding behind excuses of fear, time, money, education.
Let us help you learn how to safeguard your future by addressing your fears through education and providing you with the right tools and products for your risk appetite. After all, throwing stones at your broker or bank won’t change anything at the end of the day.
Now is the time to accept we are the change we have been waiting for. We can think of nothing more personal to talk to you about, than YOU and your wealth creation.
