Monday, February 2, 2009

Conventional Financial Planning is WRONG!

Or I guess, I should have said in my opinion before making that statement. That is how passionate I feel about the manner in which so-called financial “experts” have managed to convince the vast majority of the American public (and I can safely say about 95 percent) to believe myths. The end result - people are literally gambling their hard earned dollars on porous, revolving door financial advice.

Have you ever wondered: how come only about 5 percent of people are financially independent? And don’t you find it interesting that, this is the group (I mean those you call wealthy or like I often hear folks quip, “lucky”), that do NOT follow the conventional crowd?

When it comes to the majority on the other hand, everyone seems to be following everyone yet, no one knows who is following whom. You may be a bit confused by that statement – here is what I mean: One of the questions I ask new clients as they begin their consultations with our firm is - why they made or are making the financial planning choices they are currently pursuing? The answer is almost always the same – something like: Isn’t that what everybody else is doing? I thought that was the right thing to do.

I can safely say that, majority of Americans make their financial choices by simply just following the crowd – as if all the dogs barking up the wrong tree will somehow make it the right one (of course, it’s just a saying although, someone called me a dog at the coffee shop the other day- and it was supposed to be a compliment).

There are so many angles I can take this discussion, but let me put it this way – if you have been following the majority (conventional advice) either by watching TV, reading magazines (those that show you “hot” picks and strategies), or listening to a typical financial adviser, chances are you have been following myth-based advice. And oh, if these so-called “experts” were right, why isn’t “everyone” financially set (at least for retirement or on track to achieve that)? - Let me leave it here for now.

Over the next several weeks, I will be discussing specific items that will “shock” you (I borrowed that from a client) – I am not claiming to be the messiah - so it’s okay to be skeptical. If you are like the average person I meet, you are pretty smart and desire to be financially comfortable (at least), if not wealthy. You will discover that to be financially healthy you need CLARITY, FACTS, and LOTS OF COMMON-SENSE - that is exactly what we offer - well you’ll be the judge.

So, what do you think?


  1. I strongly agree with you. We need to be more educated for our future and retirement.


  2. I haven't thought about it this way. But I must agree what your agument makes perfect sense. People surely need to take a pause and change direction.

  3. I certainly agree with your comments...following the herd without understanding what you are really doing is quite senseless to be frank. I look forward to reading some of your 'shocking' items as you put it!

  4. I have not thought about it this way but you are so right. We need more financial guys like you. You are certainly different. I like your style man.

  5. You tell them Sam. Many working Americans do follow the crowd, are financially uneducated and are leveraged to the hilt. The world is right in the middle of a financial tsunami. Unfortunately, many will not make it out and will be wiped out when it's all said and done. The reason: we did follow the crowd and never obtained good sound financial education like you offer. We forgot safety first. We know where following the crowd got us when we were young, but somehow we seem to have forgotten that very important lesson when we became adults. We need more clear ideas and more financial education like this. Keep it coming Sam. See you at the seminars.

  6. I consider myself the average Person,but during my whole lifetime,especially after i have graduated college and working; I said to myself "there must be a better way to gain financial freedom" Now at age 33, I attended your seminar and after all those years of pondering it finally made sense, a SHOCKER I must say, and why is it this information was not readily available? I have sat through conferences at several Job sights always the same "crap" "we will take your money Tax free,your job will match it,sit tax free but we will get you on the harvest!!! Wow!! but I too went along with it cause I'm just following the crowd. Then like most people my life took a turn and I wanted some money and what happen i lost big time and I could go on and on. Samuel I am sure there is a lot of people out there needing this information Please keep doing what your doing, because I am now smarter from your seminar, I just wish i Knew this a long time ago,but like you said it is never to late.

  7. This definitely is good information and seems to be an alternative to what we have known all these years. We just need a handful of financial advisors like you and people won't get into the kind of trouble they've been in this past year losing huge sums of money in their retirement accounts. I will continue reading your posts. Keep it up.

  8. Samuel,
    I learned from your seminar that following the herd was not what I wanted to do. I am so happy I learned before it was to late! Keep up the good work Samuel.

    Donna W.


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