So what is with this $8.88?
As a Private Equity Company, they are not a bank and they are not Financial Advisors.
They are private people, entering into private transactions with each other under a private company with their own private rules.
Therefore, unlike a Bank or Financial Institution, you need to have a stake in the company to be involved. So the $8.88.
I pay this membership each month, however, at the end of 24 months, I get this membership fee back. Really, $8.88 times 24 months is $213.12 and I am told the return is something like $230.00.
You can take this as cash or reinvest in your Key Subscription, and start another two-year subscription.
This $8.88 does several things.
- You get access to financial coaching, at no charge.
- You can partake in Zoom Calls.
- You get to see the inner workings of these people I have a membership with.
- You can start a Key Subscription at 7% per year, minimum $25 a month.
This last one is to get me into the habit of regular savings.
- You can also start an equity position, more about that here.
All of this is pretty strange. It is not at all like any investing I have done in the past. And in fact, the guy I am talking with is wanting to get the word investing out of my vocabulary and replace it with participation.