I had an Aunt that tried to get me into Amway back in the ’80s. I was on my way to YWAM in the Philippines at that time, so dodged that bullet.
Now a new friend, who is also an old friend is introducing me to some Finance Coaching.
Is it a Ponzi Scheme?
Is it Multi-Level Marketing?
Is it commission based referrals?
We shall see.
I am going to share my experiences here, and at first blush, it sounds good enough to get our toes wet. And it also sounds too good to be true.
I hear you, “How much does ‘getting your toes wet’ cost?”
Here is the thing, even before I put any money on the table, I get access to people who have been doing this coaching and wealth creation for decades. I had a two-hour zoom call where I asked lots of questions, and while asking the questions I was looking up the person I was talking to online, I was investigating the Companies he was talking about and the other people he is working with.
One of the big things he was wanting me to do was to get the word investing out of my vocabulary. Investing is about putting your money at risk in companies you have no relationships with. You do not know the CEO, CFO, CIO, or any of the others O’s. You might have voting rights, but come on even a million shares does nothing in a board meeting. Sometimes you might be investing in the business you also work for, so there is a small degree of relationship.
Private Equity is all about relationships.
The people I am entering into a partnership with have done this job for big money with big financial houses.
That no longer drives them.
They have become interested in families, partnerships, and wealth creation.
There is a cost to me for this coaching, I have to have a membership at $8.88 a month. Follow this link to have a look at what the membership is, how it is structured and what else I get for it.
Relationships
I had my first zoom call yesterday. I got to talk with one of the coaches, (and did all sorts of internet searches on him as we talked) and grilled him for two hours. I am not a very trusting person. He also asked me some pretty good questions. The outcome is that both Chris and I are now paying $8.88 a month. Their methodology sounds firm, it’s transparent, so far, and has no get-rich-quick quantum to it, no 1000% increase in a year bull shit. I also get to participate on Zoom calls with about 30 other people like me, and three or four of the coaches. I have been on a couple now and have been able to ask some rather probing questions.
Helping to make families prosper is one of their goals, and is why the coaches are doing this for no pay, no commissions, as they would appear to be already making their money the same way they are seeking to equip Chris and me. This seems so counter intuitive to everything we see in the world around money.
Here is my question, why do Banks make Billions using our money, but only pay us 1%?
We know that putting money to work is the smart way to grow your own pie, but why is it that I seem to be the only one sweating and not my money?
In the coming weeks, I’ll post more here.