What we all would like

I doubt very much that there is anyone out there that wouldn’t want to have this stack of cash.   Think of all the things you could do!!!  What a wonderful thought. I actually saw a person win $1,000,000.00.  It was in a Vegas Casino.  They hit the progressive on a Wheel of Forturne machine.  The guy didn’t jump up and down, he just sat there looking like he had been in a car wreck.  I couldn’t figure it out.  OK, so I’m nosy, I hung around as close as security would let me, until one of the casino bosses arrived.  (A lot longer than you’d think)  There were all kinds of questions, the machine had to be checked that it was working and hadn’t been tampered with etc.  They finally asked the question I was hanging around to find out.  How do you Feel??  The answer was a bit of a shock.  As close as I can recall the answer went like this.  “I guess I’m excited, but this is going to cause me some big trouble.  I told my wife that I would be at a conference in LA.  I had to promise that I wouldn’t drive here and gamble.  She really hates me gambling!”

Well I never heard how he made out at home.  I hope he lead with the line “Honey I’m home, and we’re millionaires!!!”  I’d like to think that she forgave him.  But if they were like most big instant winners, within 5 years, they will right back in the same financial situation they were in before they won.  That applies to between 75 and 85% of all big winners depending on which figures you look up.   Pretty lousy odds.  Another thing that I find interesting is that Money, statistically, only survives in a family for 3 generations.  Generation 1 makes it. Generation 2 tries to preserve it, and generation 3 loses it.  Watch out baby Kardashians, you might be broke by your retirement.  This statistic seems to show that if you can’t handle a little money, how can you hope to handle a lot of money.  Hence the need for Wealth Education.

A recent Canadian bank poll found that over 70% of Canadians were financially illiterate.  Our neighbors to the south have a slightly better rating. (65%)  Robert Kiyosaki, was the first author (not the last) I’ve read, who said there are only two types of money problems.  Not having enough money, and having too much money.  Don’t believe me??  You ever seen a Hollywood star that had money troubles when they were starting out.  Those usually start after they have “Made” it.   Why would this happen??  Simple really. Lack of education.  They sure don’t teach financial literacy in school.

  • “The majorities of educators were not giving a financial education course and feel unprepared to teach the subject. Many lack the confidence to teach it to students.” (“Taking Ownership of the Future,” Financial Literacy and Education Committee, 2006)  This is from the National Financial Educators Council in the US.  Believe me, from experiences where I teach, it is the same in Canada.

Is it any wonder that most people can’t build or handle wealth?  Of course not!!  When did you ever take a course that taught you how!! So how do you learn to accumulate wealth??  It is not a difficult journey.  It is just a path few actually know.  That journey can start right here.  Over the years I have taken good and bad courses, because learning what not to do, is almost as important as learning what to do.  I have read hundreds of books on wealth accumulation, saving, investing and money management.  I have taken the information that I have learned and tried things.  Some worked, some didn’t.  Now I am sharing what has worked with you. As you learn, you will feel more confident talking to people about money, because you never know where that next golden piece of information will come from.    It means you will start small, and be satisfied with ever increasing rates of return.  Wealth is accumulated and earned over time, you can’t rush it.  Even an avalanche starts with just small piece of snow.  Wealth accumulation is like that.

Let me ask you a serious question.  Is your current level of financial knowledge giving you the returns that will make you wealthy??  If not, would some new strategies hurt??  Even if all you have is $5.00 a month.  That is enough.  The reality is that we have all been taught to make money for other people.  I want to help you make money for yourself and your family. This is not the only site that can help. Check out this site as well Creditcards.com.  They have some very interesting stuff.  It is American slanted, but still worthwhile information.

This site will give you the financial education to develop, and practice the habits and attitudes that are required to handle the “Too Much Money” problems.  You will wind up doing things that other people don’t do.  If  what everybody was doing, really accumulated wealth, why are most people still living pay cheque to pay cheque?   Get rich quick schemes don’t work, for the same reason most lotto winners can’t hold onto their winnings.  Because most people don’t have the financial habits, attitudes and knowledge to build and keep wealth.   I was asked why I teach DIY Wealth courses.   Why didn’t I keep the information to myself?  I’ve been thinking about that ever since.  I think I finally have the answer.  I can’t walk by someone struggling, without NEEDING to help.  That’s why I started this site and why I end each post with:

Keep learning;

Uncle E