• Resized-18AX9

    Resized-18AX9
  • KEVIN MITCHELL
    Real Estate Investor, Author, Educator, and Trainer. Spreading the word about investing and throwing in my two cents on anything else that's on my mind.

  • Pages

The Financial Industry is NOT Your Friend!

Last week I shared some pretty scary statistics on retirement in our country as I wrote about the pressing need for Canadians to take control of their financial future.

The fact of the matter is the future is a very scary place for people that don’t have a plan for retirement.

Gone are the days of having a company pension plan to retire off of. And gone are the days of simply handing your investment money over to your financial planner so they can pump the cash into a mutual fund (well those days aren’t gone yet but hopefully they will be very soon).

If you haven’t discovered this yet, let me share a well kept secret with you…MUTUAL FUNDS SUCK!!!

They are the biggest investment scam of our lifetime and the financial industry has done an incredible job of hiding how horrible they actually are.

The terribly low returns that mutual funds continue to churn out year after year are by far the biggest contributing factor as to why you won’t have enough money for retirement.

There are only two ways to make money in life:

1)      To work for it (trade your hours and or expertise for money)

2)      To have it work for you (the returns you achieve from the money you invest)

So if you continue, year after year, to pump your hard earn money into mutual funds how hard is your money working for you?

This IS the million dollar question.

And the reason it is such an important (and tough to answer) question is because the banks make it almost impossible to figure out the returns you achieve from your mutual fund investments.

Most Canadians simply file away their investment paperwork as soon as it comes in and then forget all about it.

And I am not saying this because it is something WE are doing wrong…after all we are told repeatedly by the financial industry that we need to invest our money and then forget about it. So in essence we are doing EXACTLY what the BANKS want us to do.

But at the same time, if you want to retire when you want and how you want you need to change the way you approach investing TODAY!

You need to focus on ROI (return on investment) and figure out a way to maximize the returns you achieve each and every year.

This obviously easier said than done, but the perfect place to start is to understand how horrible the Banks really are.

I wrote a book called “Bank Conspiracy, Your Bank is Robbing You!” and it digs deep into why mutual funds are so horrible and it also discusses specific strategies that you can use so that you don’t fall victim to their money making schemes.

Do yourself a favor and read it NOW!

And leave a comment at the bottom of this blog to let me know what you think.

Talk soon,

Kevin

Share
  • charlene seaton

    I have alway’s believed the Banks are in business to make money for themselves using our money. Do the independant Investment Brokers who are not at a Bank do a better job?
    I will find your book and have a read. Thx

    • createyourownreality

      The Independent investment brokers are in the same boat when it comes to Mutual Funds. These horrible investments are just plain terrible no matter who is selling them.

      What you want to find is an investment portfolio manager that has a history of successful investing for their clients in ulterior investment market options (Stocks, REITs, etc.).

      Furthermore, if all of your investment money is currently in stock market investments, I would strongly suggest taking a percentage of your investment portfolio and moving it over to a real estate investment vehicle that is outside of the market.

      Thanks for the post!

      Kevin