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A key part of the "product" I'm envisioning will be education (video, documents, workbooks, webinars). With our current students, we have been educating them a
by rhopen 12y ago
A key part of the "product" I'm envisioning will be education (video, documents, workbooks, webinars). With our current students, we have been educating them about the financial issues in the US (macro issues like the federal debt, shift from employers bearing the risk of funding retirement to employees, taxes, rising cost of college, social security running...) and personal financial issues (credit card debt, budgeting, improving credit score).
And then we take a completely different approach to building wealth and that is to invest in rental properties. The appeal here is you leverage your money through mortgages. And investment is securitized with the physical asset.
Essentially we've set up a timeline showing our students how to get on track financially (pay off bad debt, live within their means, increase their income, increase savings, and acquire properties). We show them how to take cash flow from property 1 and add that to their savings to get property 2 and so on. And then there is a date in the future when cash flow = monthly expenses. It's a shockingly short timeframe that inspires them to implement the plan.
It's working and it's really inspirational. My challenge and frustration is scaling this. btw, i have some info on my site at www.FiRevolution.com.
So, to answer your other questions. Very different approach than other personal finance sites. And right now flying solo with a few advisors. All self funded to date.