"If you could unwind any three past financial decisions, how much more money would you have?"
A few days ago, I hosted a training webinar for about 350 Australian property investors. This is a monthly learning opportunity for the members of the PropertyInvesting.com community.
Some of these investors who attended the live webinar are just starting out, having never bought real estate before; others are quite experienced. All of them face the same challenge of trying to find profitable deals in a market that has seen significant capital growth over the last few years.
As someone who advises investors on their ideal next move, much of my energy goes into first teaching them that's there's a better way than just buying, holding and hoping for the best.
I'm planning on posting the following 10-minute clip from the webinar on PropertyInvesting.com later this week, but I wanted to share it with you first.
At the end of the video, I pose a question I heard someone once ask:
"If you could unwind any three past financial decisions, how much more money would you have?" The difference between that amount and what you have now is called your "stupid tax."
In my second ever Steemit post, I shared the first time I ever paid "stupid tax," going all-in on a technology company in 2000 just after the Dotcom bubble burst. You can read about it here:
"How My Most Painful Investing Mistake Could Make You A Steemillionaire"
What about you? How much stupid tax have you paid in your day?
If you enjoyed this post, please consider following me. Thanks :)
@jasonstaggers
Similar thing happened to me.. greed glossed over my eyes when my broker convinced me to sell my tax free NY bonds and buy some sure money makers. Story short I lost 42,000 dollars... broker disappeared to Florida..
Ouch! Even more painful when the broker won't stick around to take responsibility.
Thanks for sharing.
Enjoyable video! Thank you for sharing.
Though from India, we are definitely prudent investors. :)
Upvoted!
Thank you sidwrites. I have worked with a few of you. You definitely are prudent investors :)
Oh I paid too much stupid tax. Maybe most people pay that tax! What do you think? Do you know anyone who got away with not paying it?
Unfortunately, I don't think it's a question of if you pay, but how much. I think the goal is to make the mistakes early when there are fewer zeros on the end.