Wealthy Wisdom

Question


Hi Barefoot,

I have the same life goal as you — freedom. But at 40 I still haven’t worked it out like you have. I’ve worked really, really hard and am still here … with a mortgage, and throwing money away on ideas and courses ($25k to a US group recently) that get me nowhere. So I thought I’d get get some sensible advice this time. I’m currently looking at trust deeds and land banking in the US to invest my children’s trust money for the best return possible. Is this idea silly?

Ken

Scott's Answer


Hi Ken,

It’s not silly. Silly is buying a scratchie when you’re at the local newsagent. Blowing $25,000 of your family’s money on a get-rich-quick course is more like (as my good friends Cypress Hill would say) insane in the membrane.

So demand a freaking refund! Squeal like a pig until they give it to you. Then invest that $25k, not in rubbish real estate schemes but in Warren Buffett’s Berkshire Hathaway. Every year he sends out a shareholders’ letter which has more wealthy wisdom than any of those greasy gurus. Best of all, his advice is free, and the returns are astounding.

 

Scott