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Money is knowledge. It used to be that money was earned and you need money to make money. Today you simply need knowledge.
Money is made out of nothing but knowledge. Investing in mutual funds advised by your financial planner is risky. Look at what happened in 2008. Today is the information age and money is made and lost at the blink of an eye based on good or bad information. Much of that same information is still being circulated because of old information and lack of financial education. I hear it from my friends and family because they know they have lost money in the markets and do not know what to do. They are told by their financial planners to hold and the market will come back, so they do because they do not have the education to know what to do. Financial planners generally have only a bit more knowledge and are really only sales people for the mutual funds. They are truly not much different than people who sell cars, appliances, electronics and other sales people. They know enough to communicate it so that you will buy it. Why are you relying on a sales person for your financial well being?
Too many people are losing financial ground because they are following the old rules of save and get out of debt. Some believe that investing is risky. It is when you are relying on Financial planners and the mainstream media for advice. When you lack financial education and experience is way more risky.
Today you can lose money in a blink of eye and you can also make money with knowledge. Robert Kiyosaki writes about The Conspiracy of The Rich, The new Rules of Money in his book just published.
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