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Being Human: Biggest Obstacle to Your Investing Success?

“Be careful when you follow the masses . . . sometimes the ‘m’ is silent.” – Mark Twain Investing is tricky and many people are doing it so wrong they are dramatically limiting their future prosperity. Today in my video newsletter I want to talk about avoiding doing something wrong. And the wrong often comes simply from following our instincts and being human. Let’s talk about how “being human” can get in the way of successful investing. What We’re Reading How Salespeople Make Money from Your Wealth: This is something that we wrote for the popular website Investopedia.com. It is a must read as it shares with you some first-hand experience of how sales can hurt you (current example is Wells Fargo). It also offers a suggestion of what you can do about it. If Wall Street is Bearish, I’m Bullish! Barry Ritholtz explains all the scenarios to be negative
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Categories: Personal Finance and Wise Money Monthly.

Big Banks Are Flushing Your Wealth Down the Toilet: Here’s How

Wells Fargo, Edward Jones, and Morgan Stanley. What do they all have in common? In the past month they have all been involved in some pretty shady activity. They have done things that are completely contrary to what’s in the best of interest of clients. The biggest and most recent example of this is Wells Fargo. In case you haven’t heard, Wells Fargo employees, in an attempt to hit internal sales quotas, opened millions of phony accounts for clients. This allowed those Wells Fargo sales people to hit goals and receive bonuses. They were rewarded for breaking the law. Wells Fargo responded by firing 5,300 employees (yes, it was that widespread!) and by firing the Executive that headed the “phony account” department. They were also fined $185 million by the Consumer Finance Protection Bureau (CFPB). A month before this story broke, this now fired Executive, was touted by the Wells
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Categories: Personal Finance and Wise Money Monthly.

What I’d Tell Every Teenager and It’s The Key For Your Wealth Too

I just had a great conversation with a fifteen year old who had been working hard to save his money. I told him one secret about what to do with it and it blew his mind. That secret is the one thing you too should be applying to your wealth building approach. It’s the very first thing everyone needs to do when planning for their financial future. This video reviews that conversation and is a great check up for you as to whether you have the right mind set for your portfolio. It’s short (three and a half minutes long). It’s sweet. And it’s the key to wealth. I hope you’re already doing this one thing. Enjoy. What We’re Reading More Money, More Success, More Stuff? Don’t Count on More Happiness – Money and items are not the key to happiness, including winning the lottery! Read the full article. One
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Categories: Personal Finance and Wise Money Monthly.
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