5 Key Factors Of Good Financial Education
5 Key Factors of A Good Financial Education Program
A Financial Educator is your guide, your mentor, your coach.
By Jeremy Tan
Everyone needs to learn how to invest — it is the best way to build wealth over time. You work hard for your money and your money should work hard for you. It allows you to grow your wealth but also generate an additional income stream if needed ahead of retirement. It is always a good time to invest. In fact, you probably should have invested yesterday. Why? Because every day you invest your money, you are more likely to earn money on your investments.
WHY most investment “expert” suck?
I started off my journey 10 years ago, right after national service. After reading Rich Dad Poor Dad book, I set my direction to be an Entrepreneur and Investor. During the 1st 2 years of my journey, I learnt a few tips and tricks while making a lot of costly mistakes.
As I was young, and eager to start out, I attended an entrepreneurship program, which is heavily marketed as “How to start a business with little or no money” from EAP, which gives me little to no value in entrepreneurship… It is more of a motivational course, and they are no longer around…
Another Program i attended, MIP, which is also heavily marketed… however, I would say it is still a good program, 50% Motivational 50% Content to learn more about value investing. I spent time and effort to learn, however, the system they provide requires me to pay and pay more to learn more about the basics of value investing.
After attending many other courses, programs, online or offline. Information is never complete… and I realized there are 5 Key Factors to look out for in a financial education program if I am going to attend anymore of such programs.
1. Is the trainer giving you good content or general stuff you already know?
Choose wisely who you want to learn from… Do you want to take a motivational course or a program that you can learn and apply for business or for investing.
2. Are the trainer’s student benefiting from the program, ask for real testimonials.
Do a quick research, review their testimonials and and ask more questions on how are the students doing.
3. What is the post program support all about?
Is there a follow up plan? Is there guidance and support? What kind of support? Are you able to contact the trainers directly?
4. Is the program present to you very basic? Is there any upsell?
Ask if you need to pay more to learn more, and compare what kind of value you are going to get.
5. Is the program able to make you independent in investing by yourself?
After the trainer shared with you how it “sort of” work for you, or you have probably read the program list, ask yourself if you need to rely on the trainer for more info to trade independently.
“The secret to successful investing is to figure out the value of something — and then pay a lot less” — Joel Greenblatt
All these legendary investors use objective methods for stock pickings, their investment philosophy is disciplined and designed to limit risk.
Ned Davis discovered that all winners shared four key characteristics:
1. OBJECTIVE INDICATORS
Must be mathematical with long historical analysis to demonstrate its effectiveness Eg: use inflation rate as macroeconomic indicator.
All winners are discipline, remaining faithful to the system through good and bad times. Ned Davis use computer- derived mathematical model for stock market timing
Flexible to change mind when the evidence shifted. If you made a mistake , respond immediately. Expect surprises, things change.
4. RISK MANAGEMENT
Keep your losses small and let your profit run.
Therefore, work on your investment plan right from the start, choose your mentor or coach wisely, because they will either help you tremendously or hurt your pocket badly.
Core Invest Institute was created to benefit more investors.
Watch the below video to know why others benefit from Core Invest Institute.