A couple of reader e-mails …

I like receiving questions / comments, etc. via e-mail, even if it’s not always flattering, like this one from ‘hardtop’:

Been reading your website for a while and your posts. What you share is nothing new.Β  Just the same recycled material that all the “guru” financial “experts” share with their flock. None it it will make you rich, nevermind 7in7. Becoming rich is more about being in the right place at the right time (luck) with the right product and enough capital. One could follow yours and similar advice for years and never get rich. Keep up the good work. Β πŸ™‚

Of course, since ‘hardtop’ has been reading my website for a while and my posts, he should know – as my regular readers already know – that I hold totally opposing views to many gurus such as Suze Orman, Dave Ramsey, and Ric Edelman.

But, I do admit with great shame that I have ‘recycled’ material from Robert Kiyosaki, Michael Masterson, and Phil Town πŸ™

Of course, it was very specific information, with the source, hopefully, credited πŸ™‚

And, while I do agree that it helps to be “in the right place at the right time (luck) with the right product and enough capital”, I had to create the ‘right’ products for the businesses that helped to propel me to $7 million in 7 years,Β  as well as creating a market for them – without ANY outside capital – and, I had to commit to moving countries … and, putting EVERYTHING that I had on the line to get there!

[AJC: Insert favorite inspirational quote about making your own luck, here]

Oh, and before then, instead of spending my meager profits, I invested them in real-estate.

I guess we can put my success down to luck, after all πŸ˜‰

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10 thoughts on “A couple of reader e-mails …

  1. The reason I enjoy your blog is simply that you are nothing like most gurus. You hold the notion that the number can be attained, yet it is more than cutting out lattes and buying a duplex…..

  2. “The harder I work the luckier I get”

    Attributed to several people, but I think Samuel Goldwyn said it first.

    As to the point raised by your reader, some people will succeed and some wont – that’s inherent in the nature of risk taking. But if they don’t try the outcome is certain.

    I’m one of those people who read your blog more for motivational reasons than anything else. You won’t see me starting a business anytime soon but you will see me putting my money to work through investments and aiming to hit my number in the next few years.

    And, yes you should be ashamed to be quoting Kiyoskai. πŸ™‚

  3. [Insert favorite inspirational quote here: “In a way, making stool is a principal function of our bodies!” — His Holiness the Dalai Lama (How to Practice The Way to a Meaningful Life)]

    Ok, this post is timely for me, because I’m considering paying someone for their advice. I read this blog a lot because AJC (or whatever your name is) does not ask for any cash, has done the work himself to get where he is, accepts critisim and responds, etc., etc. The biggest problem I have with most other so called gurus is that they sell a product that they would not need to sell if the product worked! I’m considering taking some investment training from some so called “gurus” — but there are a couple of problems: 1. they charge exorbitant fees ($10K) 2. there are no guarantees.
    @traineeinvestor: I’d be interested to find out how you got around this problem of learning about investing — the book side is fine; plenty of info out there, but the practical side is much harder: mentoring fees are astronomical, at least from what I can see. I don’t plan on working for a bank so it’s not a simple matter to get reimbursed for “training”. And this knowledge is specialized, it is difficult to find semi-reputable sources.

  4. “more than cutting out lattes and buying a duplex”

    @ William – I like that! Although, cutting out lattes and buying a duplex can’t hurt πŸ˜‰

    @ Illiquidity – My problem with paying for advice is who’s going to sell you their advice, if they have already made enough from following it? Only somebody who has some sort of grudge against conventional wisdom …

    I know my motivation, but why does Donald Trump do it? I’m guessing ego πŸ˜‰

    BTW: I’ll give you a free 1 year ticket to my membership site, if you send me an e-mail. You should be able to do the whole course in a year. Enjoy!

  5. To me, ‘hardtop’ is looking for direct examples. Money 101 was easy if you have some level of disciple (to me), 201… now that’s the killer.

    I’ll agree it is a big step from learning principals to applying them, even if the advice spot on. And that is the challenge we all face. It is like losing weight. Portion control, health food choices and exercise. Easier said than done.

    Knowing is not enough. Take university-level tests. Some people excelled at doing them, but you would never actually want to hire them as they would never get the work done.

    In IT I see a lot of really smart people, but not all of them will commit to doing all the work needed to complete a software product that actually does what the client needs.

    Your advice is free, thought provoking, highly entertaining, and you are one of the few bloggers I read that had a networth that exceeds my own (and by a large margin). I respect and appreciate that, even when I don’t agree with everything you write nor follow up on it all the time.

    This is my favoriate financial blog.

    (who needs to get back working on your course)

  6. I disagree with β€˜hardtop’,Luck has very little to do with it.Many have luck and win a lottery,but then spend it all and become just as broke or even worse off than before winning.You can get to Canada with a little luck(enough gas money) and no map. But in obtaining your goals in life, It seldom happens without some kind of road map to guide you. You just aimlessly wander from day to day,week to week,and year to year,and get no where fast.

  7. @Illliquidity – a combination of experience (learning by doing), a lot of reading, lessons from my father and some of his friends (in his mid 70s he’s still running his own portfolio), a year spent at a finance firm in 1987 (reviewing credit limits for corporate customers at that point in history was very eductaional- I can still remember being told that the cash flow statement was the most important thing to read), a degree in accounting (I may have forgotten most of it but I can still read an annual report without my eyes glazing over), starting my legal career doing insolvency work (it’s amazing what you learn when you get to see the consequences of mistakes early in life), a lot more reading, talking to people, learning when to cut your losses and move on (the hardest lesson of all – it took me nearly 20 years to learn this one and I would have been long since retired if I it had only taken me one decade to learn this one), learning not to get sucked in by hot stocks, hot markets, hot women etc, learning to go all in when the markets tank, learning to be patient when others are making money and I am not, learning to ignore most of the self procliamed gurus (present host excepted πŸ™‚ )and a few other lessons. Oh yes, it also helps to have a good sounding board – someone to discuss ideas with.

    No matter how much I read, the best learning is by doing – even if the lessons can be expensive at times.

    @Adrian – apologies if you think this is off topic, but since the question was asked….

  8. @Trainee. Thanks! I’ve started to get some expensive learning by doing experience. LoL @ sucked in by hot women…
    @Adrian — I have to send you and Email.

  9. @traineeinvestor
    “Oh yes, it also helps to have a good sounding board – someone to discuss ideas with.”

    Isn’t that want this board is (to some degree)? Maybe it is too public for some things, but not for all.

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