Bill’s Blog | March 9, 2023
Let me ask you a simple question. What would you prefer, having sufficient wealth that allows you options or being broke, deep in debt with few or no options? Most people would choose option one, but statistically, few attain it. We all make personal choices and have habits regarding money, and I would argue the lack of financial education leads us down a painful financial road. Ignorance is not bliss.
To clarify, I, too, had minimal financial education growing up, which led me to make poor decisions in my early years. Thankfully I did not get into a severe debt trap, but I did buy and sell way too many cars! However, by my early thirties, I realized how little I knew about investing or how business works. So I decided to change that and began learning about these vehicles for building wealth. It has been a long journey, and yes, with mistakes. If a financial mentor claims they have never made poor decisions, generally best run because they are just trying to sell you something!
So in today’s BLOG, I want you to consider your financial road. You may be pleased and successful with your current financial situation. Congrats. But, if you are unhappy with your financial decisions, are you willing to change things and grow as a person? To learn and develop better financial habits and disciplines. Life is fundamentally about making choices; some are good and beneficial, while others can harm you and those closest to you.
So, the first step to change is being honest with yourself and then developing a game plan. Most people will need guidance from others who have gone before them and are integral mentors. It is not easy to find people you can meet in person. It is not because they are not out there; one must filter and confirm your mentor or mentors. Ensure the person is honest, has a proven track record, and is confirmed by many others. Many of my mentors are from afar, through books or courses I have taken, and I continue to follow dozens online.
Through personal observation, I have found that people fall into a small group of categories regarding wealth. One is those willing to learn new ideas, implement a basic wealth plan, and start the journey. It is not about loving money or wealth; wealth provides many life options. To be generous and give back, to bless family and friends, to travel and achieve dreams and goals. Some people say, “they do not care about wealth or money.” Being indifferent or unwilling to learn from my perspective is a poor decision. Plus, it shrinks your world to have little or no choices. Yes, we can all get stuck or in a rut, but we can decide to get unstuck, start to learn and make better choices. What you think about wealth will profoundly impact your life for either good or bad.
In my Wealth Foundations Course, I will teach you to ask the right questions. What are the risks of any investment? How much is enough, and what are the risks of becoming wealthy? You will learn the importance of mentors. What are the success habits of wealthy people? I state in the course, “you will never attain lasting wealth if you cannot manage your cash flow.” Why is saving so important? Do you fully understand how debt works, when to employ it and when to avoid it altogether? I will share several critical “Financial Cycles” to help you avoid significant financial mistakes. Several major cycles are playing out in 2023 and beyond. No one can perfectly time the markets, but cycles provide excellent guidelines on when not to make certain investments. Cycles can also help you choose suitable investments for that season. Patience is vital to long-term success in building wealth without taking big hits to your capital. Finally, I will guide you through how to enhance an existing wealth plan (written and tracked) or help you start a new one. You must have a written plan that you regularly monitor and adjust when needed (things change, so must your plan).
I have given you an excellent case to build wealth and develop an action plan. So, the next step is up to you. Are you willing to learn and grow in your understanding of how to build wealth that lasts a lifetime?
I offer my course at a discounted price so that everyday people can afford it. So, please consider purchasing the online course for yourself, as a couple or for another person. I developed the course with six essential lessons (each 15 to 30 minutes per lesson). Once purchased, the course is available for six weeks, so you can go through it several times to learn each concept more in-depth and apply it to your life. Here is the link to purchase the course for a one-time $49.00 CA:
Please join us on March 18 at 10 AM PST (45-minute webinar with Q&A to follow. Josef Schachter has over 40 years of experience in the financial markets as a top analyst. Josef is a regular BNN energy analyst, and recently he was a keynote speaker at the World Outlook Conference in Vancouver, BC. Josef will share in this presentation why he believes we have entered a New Energy Supercycle and will share some possible opportunities in the Canadian energy space. Please register for this event:
When: March 18, 2023, 10:00 AM Vancouver
Topic: Join Josef Schachter (Energy Expert) as he discusses the New Energy Supercycle and Opportunities.
Register in advance for this webinar:
After registering, you will receive a confirmation email containing information about joining the webinar.
All the best in 2023,
Bill Westmacott, Owner