The RRSP Secret: Defend and Build Your Wealth with This Powerful Investment Strategy - Hardcover

Habstritt, Greg

Hardcover

ISBN 10: 0470736526 ISBN 13: 9780470736524

Verlag: Wiley, 2014

Inhaltsangabe

If you're a Canadian investor who's feeling ripped off lately, you're not alone. Canadians pay the highest fees in the world when it comes to investments in RRSPs and other registered accounts. Is this just because Canadians are foolish, or is there something more sinister at work?

Now, and for the first time, The RRSP Secret reveals many of the financial industry's most closely guarded secrets - providing the individual investor an unprecedented view into how the financial system negatively impacts the financial freedom of most Canadians. More importantly, the book outlines specifically how to defend your wealth and use a little-known strategy to create double-digit returns - the same way the banks do.

You'll never hear a bank manager or financial advisor tell you about this secret strategy, and you won't read about it in the newspaper. Why? Because they'd rather continue selling you underperforming investments that increase their profits instead of making you wealthy. The financial industry is a massive marketing machine that isn't designed to make you money, and the only way you'll become financially free is if you take control of your financial future - and this is your opportunity.

In The RRSP Secret, Greg Habstritt teaches you how to use the money in your RRSP, TFSA and other registered savings accounts to invest in one of the most reliable and secure investments available to you - and it's exactly the same strategy that the banks use to create profits themselves. You'll finally be empowered to turn the tables on the financial industry, and beat them at their own game. You'll learn how to invest for double-digit returns without having to take massive risks, or pay hidden fees and commissions.

Stop being taken advantage of, and start making better decisions with your money. Your financial future starts now!

Testimonials: 

" Greg Habstritt is a multi-millionaire who can show you exactly how to build massive wealth by using cutting-edge strategies and a formula for predicting markets. I teach people to learn from the best, and there's no one better than Greg!"

~ T. Harv Eker, Author of the #1 New York Times bestseller Secrets of the Millionaire Mind

 

"I have known Greg Habstritt for several years and have always appreciated his integrity, honest approach, and willingness to ‘tell it like it is.' The concepts you'll read about have been used by wealthy Canadians for decades and now, for the first time, they're being shared in a very straightforward, step-by-step guide."

~ Don R. Campbell, President of the Real Estate Investing Network and bestselling author of Real Estate Investing In Canada 2.0

 

"If you need street-smart skills on how to make millions in real estate like the pros do, then stop looking! Greg Habstritt teaches his secrets on how to build massive wealth through real estate investing. Greg teaches what he does and what works, and you can take that to the bank."

~ Keith J. Cunningham, Master Teacher of Business, Keys to the Vault Business School for Entrepreneurs

Über diesen Titel

Über die Autorin bzw. den Autor

Reading this book is likely the single most important thing you can do to defend and build your wealth, and you will be able to implement what you learn immediately―I guarantee it!

―Greg Habstritt, Founder, SimpleWealth Inc.

Von der hinteren Coverseite

If you’re looking to change your financial future, this is your chance.

You’re about to embark on an exciting journey, one that will take you “behind the scenes” to see what’s really going on in the financial industry. My goal in writing this book is to help you see things for what they really are―you’ll discover how you’ve been purposely misled and how dirty little tricks are being used against you.

Once you’ve learned why the system is stacked against you, I’ll then give you a blueprint to begin creating double-digit returns, using the very same strategy the banks use―a strategy they hope you won’t find out about.

No matter what kinds of investments you hold, this book will give you a powerful foundation of knowledge and an inside perspective on the financial system. You will be empowered to take control of your money and make better financial and investment decisions. You’ll finally be able to make your own investment decisions confidently, without blindly handing your money over to an “expert” and hoping they know what they’re doing.

“Greg Habstritt is a multi-millionaire who can show you exactly how to build massive wealth by using cutting-edge strategies and a formula for predicting markets. I teach people to learn from the best, and there’s no one better than Greg!”

~T. Harv Eker, Author of the #1 New York Times bestseller Secrets of the Millionaire Mind

“The concepts you’ll read about in The RRSP Secret have been used by wealthy Canadians for decades and now, for the first time, they’re being shared in a very straightforward, step-by-step guide.”

~Don R. Campbell, President of the Real Estate Investing Network and bestselling author of Real Estate Investing In Canada 2.0

Now, and for the first time, The RRSP Secret reveals many of the financial industry's most closely guarded secrets - providing the individual investor an unprecedented view into how the financial system negatively impacts the financial freedom of most Canadians. More importantly, the book outlines specifically how to defend your wealth and use a little-known strategy to create double-digit returns - the same way the banks do.

You'll never hear a bank manager or financial advisor tell you about this secret strategy, and you won't read about it in the newspaper. Why? Because they'd rather continue selling you underperforming investments that increase their profits instead of making you wealthy. The financial industry is a massive marketing machine that isn't designed to make you money, and the only way you'll become financially free is if you take control of your financial future - and this is your opportunity.

In The RRSP Secret, Greg Habstritt teaches you how to use the money in your RRSP, TFSA and other registered savings accounts to invest in one of the most reliable and secure investments available to you - and it's exactly the same strategy that the banks use to create profits themselves. You'll finally be empowered to turn the tables on the financial industry, and beat them at their own game. You'll learn how to invest for double-digit returns without having to take massive risks, or pay hidden fees and commissions.

Stop being taken advantage of, and start making better decisions with your money. Your financial future starts now!

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The RRSP Secret

Defend and Build Your Wealth with This Powerful Investment StrategyBy Greg Habstritt

John Wiley & Sons

Copyright © 2009 John Wiley & Sons, Ltd
All right reserved.
ISBN: 978-0-470-73652-4

Chapter One

I've Met the Enemy, and the Enemy Is Me!

When I'm left on my own, I'm my own worst enemy. —Ron Wood

I'm going to start with the single most important thing for you to understand if you're going to change your financial circumstances and create prosperity for yourself and your family. You're probably not going to like what I'm about to tell you, but here's something I can guarantee: your financial future depends on your ability to believe and accept what I'm about to reveal to you. In fact, I'm starting with this because without question it is absolutely the main reason that most people never achieve financial success.

The reality is that the biggest reason you've been held back financially is you. You are literally your own worst enemy when it comes to money and investing. Most people don't like to hear this, but let me remind you that this applies to everyone, including me.

It's important for you to understand some of the thinking and behaviours you have right now that are hurting your financial future, because once you're aware of them, you can change them. Sadly, most Canadians never take the time to try and learn anything about how investing, finance or money works. They simply listen to the "experts," hand their money over to others who claim to be professionals and hope for the best. To many people, investing and money management are some kind of voodoo magic, and they don't really understand it. It's too painful to try and learn it, so they avoid the topic—and their financial statements reflect this sad reality.

So why is it that so many investors are fearful of making decisions? Why do so many people avoid learning about simple concepts when it comes to investing and managing their own money?

This can be easily explained by what I call the "Financial Overwhelm Loop."

THE FINANCIAL OVERWHELM LOOP

As you grow up and get through high school and then possibly university or college or go directly into the workforce, you become acutely aware of all the financial things out in the world you know nothing about. You begin to hear about the stock market, RRSPs, mutual funds, real estate, taxes, corporations, stockbrokers, cash flow, contribution matching, market timing, diversification, dollar-cost averaging—the list is endless.

Predictably, since you've never formally been taught any of these things, they cause you anxiety and concern, because you have no idea what they are or what you should be doing about them. As you accumulate some money, you have a sense that you should be doing something with that money, but you just don't know what that should be. You begin to feel a sense of being overwhelmed by trying to figure out what to do. Fear and trepidation set in, too.

There doesn't appear to be any other logical solution. Your parents don't seem to be able to offer any intelligent advice and your friends don't seem to understand things any more than you do, so you do what most people do in this situation and turn to a financial advisor to ask for some help. And then it begins.

You feel a sense of relief as you hand your responsibilities over to an "expert" who will take care of your money. When you meet with him (or her, as the case may be), he sounds very smart and he gains your confidence that you've selected the right person.

Of course, since you don't know to ask, he doesn't discuss his compensation or how he is going to profit from working with you. Rarely is the nature of your relationship with him discussed in detail. All you know is that he is going to manage your money and grow it so that you can enjoy a wonderful retirement.

You then essentially ignore your financial situation, trusting it to someone else. You don't educate yourself, or learn about new products and services coming out in the marketplace. You don't pay a lot of attention to the fundamentals of the markets. In fact, you can't, because you wouldn't know where to start.

But you carry on with your career or your business, your family and all the other priorities you have. Besides, you've got enough going on in your life, and the last thing you need to do is try to become a financial expert. You've never been good with numbers, and it's just not your skill set. You do what you need to do, your advisor manages your money, and everyone lives happily ever after. Right?

Unfortunately, most investors find out at some point that while this fairy tale is easy to believe, it rarely comes true. Eventually, out of nowhere, some kind of financial problem arises. There's a meltdown in the stock market, or interest rates are increased without warning, or your portfolio takes a hit for some reason that you're not clear on.

And here you are, looking to your advisor for help and reassurance. And what does he tell you? "Don't worry," he says. "Now is not the time to panic. We're in for the long haul, and now is a terrible time to pull out." He tells you that he thinks the market's about to come back, and tries to calm you down.

You're feeling trapped, because you don't have any idea how to interpret what's going on and you're blindly relying on someone you hope knows what they're doing. You're again feeling overwhelmed, because you don't know whether you should fire your advisor, or if you should stick with it "for the long run."

And this vicious circle continues over and over, blindly trusting others with your money and then failing to become educated so that you can make better decisions in the future. For many investors, this cycle repeats itself for their entire lifetime. Some investors switch advisors during a downturn, while others stick with theirs, hoping that at some point things will turn around.

Now, don't get me wrong—as I'll outline in the next chapter, I don't think that the entire financial industry is out to get you, or that you can't trust any financial advisor. While there are definitely some serious problems in the way that the system is structured (and works against the interest of the individual investor), I do believe that most of the people in the financial sector are honest and want to help you. Unfortunately, as you'll see, many of them don't even know the damage they're causing to their clients.

In any case, the point you need to get right now is that no one will take better care of your money than you will.

PATH OF LEAST RESISTANCE

One of my key beliefs is that in life, when something negative happens to you, there are three primary ways in which you can respond.

1. Blame. One response might be to place blame on why the negative outcome occurred. For example, let's assume that an investor places $10,000 in a stock that his stockbroker recommends. The stock goes to zero, and he loses his entire $10,000 investment. He immediately jumps up and down, and points his finger at the broker, blaming him for putting him into a bad investment. Placing blame is the primary method in which most investors respond to losses.

2. Justify. Another response to a negative situation is to work to find good reasons for why it happened—investors attempt to justify the outcome. For example, a real estate investor who loses money suggests that the reason for the loss is that the market is soft, and there's not much...

Details zur Ausgabe

• Verlag: Wiley
• Erscheinungsdatum: 2014
• Sprache: Englisch
• ISBN 10: 0470736526
• ISBN 13: 9780470736524
• Einband: Gebundene Ausgabe
• Auflage: 1
• Anzahl der Seiten: 256
• Kontakt zum Hersteller: Wiley-VCH GmbH; product_safety@wiley.com; ; Boschstrasse 12; Weinheim; 69469; Deutschland