From listening to is audio book, "Retire Young, Retire Rich," and his CD, "The Perfect Business," I knew there was some differences from Dave Ramsey. For example, Dave Ramsey says do not borrow for anything. However, the teacher (Judy Sharma) that lead this free preview said debt is bad only if you are buying a liability. It is good, if you are buying an asset like stocks.
Of course I wondered, what if something happens that you lose your job and can't afford to make those payments, but I digress.
She did say, and I would have to agree, there will be many people that will have to work until they die. That is something I don't want to do, which is why I will not ever go into debt again. I will scrimp and save and pay cash. The same will be true for my investments. I will shovel every available dollar, I can, into my investments to make them grow. I am tired of living paycheck to paycheck, and I know longer want to be part of the 95%. Instead, I want to be part of the 5% that has a savings and yes, has money working for them.
The key theme of the free seminar was to educate yourself about your investments (including retirement accounts). Don't be ignorant about them. Know what mutual funds/stocks you own. For retirement accounts, know what their symbols are and be ready to move them to other funds in your account, to protect yourself from losses. This means, taking the few moments a day, to research your holding performance.
During the meeting she encouraged people to take chances and offered to give away a copy of "Rich Dad Poor Dad," to who ever gave her $1. I kind of hesitated, and did not get a the copy. A few minutes later, she picked up the 2nd copy on the table and began the speech again. I gave her my dollar bill before she was even finished making the offer. In the end, she gave both of us our dollars back and we both (the stranger and I) had free copies of Robert's best known book. I will take mine to New York with me to read while I am on the plane and in the hotel room.
The final thing she explained was the MACD. She made it real simple to understand. Which, I will translate here. The tool gives you an idea of the history of the stock, to give you an idea of when to buy and sell a stock. The black line moves first. When it intersects with the blue line, it is an indication that it is changing directions. Which means time to consider selling or buying. Ok, so that is a very simple layman's definition. So what do the black lines mean?
As I said, it was a free preview of the 3-day seminar that costs $495. The cost includes Robert's book Prophesy that was written about 6 years ago and predicted the current economic meltdown, which he actually estimated would happen in 2010 or 2011. Unfortunately, I can't leave work for 3-days, especially since I will be on vacation, right before the big meeting in Wichita. Not to mention, $500 is to expensive for me.
I was very interested in attending the big seminar and though that maybe next year, when they come through again, I might be in the position to do so. However, that thought has kind of soured after reading the rip off reports website.
This company got me for about $4,00.00 on credit cards as a downpayment on a $16,000.00 course in Nov. 2007. That was at the $199.00 three day (weekend) course. I was told this was a discount price for the course but, I had to sighn up that day to get this price, You wouldn't believe the real price!! So it was attractive compared to around 35,000.00. Their three day cancellation period would include the following Mon. Tues. and Wed. which I discussed with them, explaining that I didn't have that kind of money laying around, so I would have to apply for a loan, or re-financing of my home, or a home equity line of credit, or a bank loan etc. and that you can't get an answer on these things in three days. I was told by the representative who did my sighning up that I would be given time to get all my answers.
However, it was only one person complaining and am not sure how accurate it is. They give you the books, CD's and software at the free seminar preview, and you can begin using them that night. So what is this extra $16,000 at the 3-day weekend that this person speaks of?
I did look on ebay (where I had gotten all of my Rich Dad CD's) and found several copies of both the print and audio versions of "Prophecy." I however, did not find the EduTrader software that would be the most desired tool of the set.
After the meeting, I had to literally ask for the free gift they advertised would be given out at the end of the meeting. Makes me suspicions of the education team, since they advertised so heavily (even on their website) and then doesn't hand them out unless someone asks about it. The 2 GB flash drive, however wasn't empty. Instead it was full of educational materials that look very interesting and I will be eagerly devouring it in the near future.
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