In this episode we discuss assets and what you should consider to be your greatest asset. How can you protect this asset?
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3 Comments on “What is your greatest asset?”
Thank you for the information, I have been absorbing this information for about 2 years. If you are open to it–I will give you guys two pieces of advice.
1. Don’t be so negative about everything. 99% of the time you talk is negative, try to be balanced. There is nothing wrong with banks but there are other ways of doing business. Some of the challenges people can face etc. It is also hard to listen to a podcast that is talking primarily in the negative sense.
2. It is true, stockbrokers will advise you to buy stocks, real estate agents will advise you invest in real estate… but life insurance agents will advise you to buy life insurance. Again, balance and an even hand approach–that comes across much more trustworthy.
Hey! Thanks for the comment.
For #1, yes we do end up speaking negatively about the banks quite often and, in our opinion, there is a lot wrong with the banks. You are welcome to think differently than that, and there certainly are PEOPLE at banks that are amazing and will give you great advice that is in YOUR best interest. But in our opinion, overall, the banks are setup to make the BANKS more profitable as a priority over having their CLIENTS more profitable. We really need to keep that in mind for all the financial decisions we make. Don’t get me wrong, we need the banks and the banking system to operate everyday life in this world….we just need to be able to effectively use the banks in the right way in order to keep more of our own money. We certainly will do our best to add in some more positivity in upcoming episodes!
For #2, yes absolutely. Pretty much every specialist will be looking at a solution through the lens of the product or service they sell. In their world, the tool that they have is a great solution to peoples problems. And from our point of view, MOST life insurance agents are not educated in a BIG PICTURE view of finances, investing, debt, and the banking system. MOST insurance agents have been trained and have experience in the type of insurance that they sell. They can definitely sell you the appropriate life insuance for your needs…but they spend very little time looking at YOUR cashflow needs, investing needs, debt management needs, credit score needs, tax reduction strategies, etc. None of those areas of interest for YOU will make that life insurance agent any money…so they are not as interested in it or educated in it. We definitely use life insurance as part of what we advice for our clients, and Allan does sell life insurance…but 99% of the time the life insurance component of a clients solution is only a small part of the strategy. And depending on what stage of life someone is in, life insurance isn’t even part of the solution at all. Allan has been in the financial business for over 25 years and has studied in depth many aspects of the financial world…so his “BIG PICTURE” view is a lot more robust than others.
Again, your comment was great and it sparked some conversation between the 3 of us (Allan, Andrew, and Anthony) and it has given us some ideas for topics to upcoming episodes. We also will be adding a bit more structure to our episodes to make sure that they are not always so negative. So, thanks for the input!
Cheers,
Andrew
Thank you for the work you 3 are doing and I do hope your podcast grows quickly. If I may submit two podcast topics for consideration?
1. What the maximum ration a Canadian can have on their policy (I think it is 40 base/60)
2. Is it possible to get USA policies as I think they can be 10/90
Thank you all again–God Bless