I have recently completed a Diploma of Financial Advising, but nobody wants to give me a job in the field because I lack “experience”. Dont ya hate that? They wont GIVE me experience, but they demand it. Just where do experienced people get their experience from? Obviously not firms like that! I have PS146 compliance, and know a mammoth about shares and investing in general. ASIC laws prevent me from providing specific advice (excluding property advice) without a licence, which takes 3 years to get IF you can get a job. So theoreticly, I could become a property analyst or consultant, because ASIC law does not cover property investing. Thats why you have so many dodgy investment guru’s out there ripping people off (not implying anyone here is). I have ethics and integrity, plus I actually have qualifications. Trouble is, the Diploma has bugger all in it about property investing, and though I have learned a lot from this site in the last week or so (I have been reading posts for like 8 hours each day) and though I now know more about property investing, economics, retirement planning, tax et al than 95% of the public, Im not sure I am skilled enough to market myself as a consultant. I could study my ass off for another few months until I feel more confident, but how many people would actually use a consultant? Obviously none of you here would, as you can just ask a question and get a free reply. But most people dont know about this site, so they are my target.
I could finish setting up my stockmarket school, finish writing my books I suppose. But in the current market im not sure there would be any demand.
I could market my skills and knowledge to Sydney & melbourne property investors who have no idea how much better off they would be buying Brisbane property instead of in their own back yard. trouble here is that for years dodgy QLD operators have fleeced interstate investors and most are scepticle about investing here. I could offer an inspection service to these people, I found it hard to choose a property to rent or buy before I moved up, so maybe there are many people who would appreciate a service like that.
I am still looking into a reno-partnership with some people here, but lets assume for now this doesnt eventuate. Even if it did, the property market wont boom forever.
I still trade stocks at night which makes some money, but its very irregular, risky and the banks dont like it for financing.
It would be a shame to waste all my study and knowledge and get some crappy job somewhere. Im better than that (I hope). Anyone have any suggestions? Appreciate any comments.
forgot something:
I would do the positive gearing shares thing I mentioned, but I dont have the capital to produce enough income. I could borrow the funds, but no banks is going to approve something like that. Setting up a managed fund is illegal, though I could borrow money from anyone, and build my own fund. All depends how safe the lenders feel. I could probably offer a fairly high return to attract people, and let it grow by word of mouth. Shouldnt be too hard with fund managers performing so badly, next to them I could make only 2% and still look good.
Hi Crash,
What about forgetting about consulting and become an investor? (Dont help others, help yourself).
Spend some time (as you are) learning on the forum, and go out and find different ways to get that 20% deposit. You’ll be surprised how quick things start moving.[8D]
Just a thought.
Good luck[
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Delthanks Michael
That type of thing still requires a licence, although many people do it without one. I read in the paper a while ago about a guy who ran QLD fund for 5 years, when ASIC caught up with him they simply got a court order asking him to stop. No fines, no nothing. Who says crime doesnt pay?
I dont mind exploiting a loophole or something, but its got to be legit.
Well, becoming an investor does need some minor detail, ie cash!
How are you meant to get cash without a job?
I am now, after some 25 years! in the workforce working only part-time, writing silly emails!
Investments are only now allowing me the luxury of foccusing more on our assetts and associated compliance paperwork and exploring other assets and income streams.
My work has allowed me to do this and not the other way round.
I continue to work part and my husband remains in full-time work.
Could you maybe become a mortgage broker? Just for a start, I couldn’t think how anyone could do this long term.
It’s always hard to make a start. Can you work on a voluntary basis some where, just to gain experience and add to your CV?
I hope yoou can find work soon!
By the way, Managed Investment act, if you want to set up a managed fund, the compliance costs are huge.Do network marketing with a reputable company.
I do and that gives me excellent cash flow so now I can invest etc.Network marketing: fine line between that and pyramid schemes.
I went to one presentation and goodness me, how are people sucked in!
we bolted right the other way.
Beware the american hype and excuberance machine, they know how to suck you in and spit you out!
Not saying there is anything wrong with your particular comapny, just be very careful and check out the ASIC web page on that any other investment “advise” and “scheme”. I am sorry to say making money and holding it well is one big hard effort.lol @ MLM
wot a scam!
my partner gets about 3 calls a day from network marketers who tell her she is a great saleswoman and they would like to offer her a position in their company. It seems MLM is a big thing in QLD, lots of suckers or lots of people struggling to find work?
I went to a MLM meeting bout 10 years ago, they were saying at the time that network marketing was growing so fast, by 1997 networking would be bigger than Coles or Woolies. It was simply pyramid selling, and whats worse is you have to con your friends and family into buying your crap.
You completely missunderstood me. I’m not talking about a MLM scam (there are plenty around).
What I have in mind is a genuine network marketing business preferably with publicly traded company.
Do read Robert Kiyosaki’s latest book.He recommends this type of business and wrote whole book about it.Kiyosaki is off my Xmas card list. I used to respect him till I found him promoting crappy MLM’s for cash. And I listened to one of his audio tapes and he talks down to people like they are 2 year olds.
Yes I think Doolf De Roos who wrote Real Estate Riches started some sort of MLM and their company seminar start with saying they are not in MLM business but end with the same concept. they are saying their company will be bigger then Microsoft, Dell etc.
About Robert I have read his all the books and tape etc But When I went to his seminar in sydney last time you feel like he is proudy when he say lot’s of things! No doubt about his knowledge etc but he should be a bit polite! may be I am wrong!
Amit
Yup, i totally agree with LiveLife here.
Most people misunderstand network marketing as a “pyramid scheme “(‘pyramid schemes’are illegal which doesnt involve any products).
If u think about it, all business has a pyramid structure. Think about a large company, the big boss is at the top, then he has his managers, then the staff, then the factory people. BUt the thing with normal businesses is the boss gets to earn most of the profit for doing nothing much, while the people below work their ass off with little $. In NM, its actually a more “ethical” structure (as Professor Charles King from Harvard calls it), because everyone in the structure has the same gain in proportion to the effort they put in.
Actually many people including professionals and millionaires are into network maketing. I know property investors, milliionaires, policemen, nurses, housewives, bricklayers, furniture makers, businessmen, architects, CEOs and even doctors in network marketing because its something they can do part time/fulltime and earn passive income.
Even people like Robert Kiyosaki and Anthony Robbins are into it because of its potential growth and residual income. These 2 guys always say “dont trade time for money!”. Success magazine calls it business of the future.
I am in a few myself and they are really great stream of passive income. My friend who is a pastor, earns $10,000 passive every month from NM and he only spends one day on it. The other 6 days he does charity work and his pastor thingies.
Another friend has just started 2 months ago ( 3 months ago he didnt even know what NM is), and now earning $5000 already.With NM, u got to find a great product (not just ‘ok’ products), and a great team of network. And u got to go into it with a leveraged mindset, not go in as a salesperson or product pusher, which is the wrong way of doing it.
Currently i am doing NM with 1 company which Tony Robbins is also involved in. And the Australian market is virtually untouched by this company since it hasnt officially opened in Oz. So with Tony as our ‘spokesman” for the product, there be sure heaps to earn! I already got a team to start off this one. If anyone is interested to join this and make $, email me at [email protected]
^^
Be great!
have fun and make lotsa $!I agree with you. He is very “direct” but this is actually what I like about him. He says a lot of things which are factual and true, but most people don’t like to hear it and say that he is rude.
Another well known property guru who is in NM is Robert Allen. He is much more “polite” but his message is same as Kiyosaki’s.yes its quite true, Kiyosaki can sound a little proud at times, even in his books.
But that doesnt mean his knowledge on how to be wealthy is untrue.
i dont really care what their character is as long as its an ethical way, all i want is their ‘secrets’ and knowledge.Offer people enough money and they will flog/market anything. Dolf DeRosses’ product was previously discussed and is grossly overpriced, well you’ve got to pay the pyramid or it will collapse don’t you?
The products being flooged may be ok but grossly overvalued and nothing you cannot buy in any shop etc.The excuse for not selling them in the shops is, that they would then be even more expensive, well come on! Read the asic web page on network marketing and listen to the markeeters hype, so what’s different.
I have heard the argument of leverage, eg Bill Gates’ employees working billions of hours to pay his billions of income. Ok at least its transparent and he was genius enough to come up with a product that has pretty well changed the world.The network scheme(scam)I attended is flogging vit supps/antioxidants.
If you read the latest Aust. Med Assoc. Journal there is still no proof that they work.
so I am going to sell a product that may or may not work and its only costing you $80 per month, but its the best of the best- really who are you kidding?
That’s about 2/3 more than the most expensive brand on the shelves.
Oh yes but its got triple amount of the good stuff, compared to the other products and has the best quality control in the world.
Well, I suppose it means, your body is going to put out even more of the vitamins then with the other products, that amounts to pretty expensive urine!Oh yes, but this is not Amway, its perfectly legal, you can live your dreams.
Passive income for life.
It starts to worry me even more, when someone we last spoke to 15 years ago rings up and professes deep concern for our financial well-being and he has just the right product for us to make us wealthy, well who needs enemies.
Yes, call me a sceptic.Dear Regina
Pardon me but you are obviously low on facts. Vitamin supplementation is absolute must for everybody.
Just see this last year’s article (written by eminent Harvard Researchers) from Journal of American Medical Association which is probably the most conservative, medical journal.
Here is what they say: “Most people do not consume an optimal amount of all vitamins by diet alone. Pending strong evidence of effectiveness from randomized trials, it appears prudent for all adults to take vitamin supplements.”
http://jama.ama-assn.org/cgi/content/abstract/287/23/3127Regarding quality – there is a huge difference as well. Quality or rather lack of it was the reason why Pan Pharmaceuticals where shut down together with 70% of supplements on the market.
Expensive urine? Basic human physiology determines that not everything we take/eat is absorbed.
The same happens with your healthy broccoli and lovely, expensive (and we do know now – healthy) red wine.Please get your facts right
All the bestSee: The Medical Journal of Australia, 4th Aug ’03,vol 179, no 3, p.170
This was a literature review, ie numerous articles were checked, no conclusive evidence to recommend either for or against supplement/antioxidant compbination.
There you go, who is low on facts?I think we started from telling about Biz to crashy and reached talking about MLM. [
]I think even if some one like to work in NM it’s not easy biz. You have to work very hard to make some thing out of it. And in the process you will be loosing lot’s of your friends who will be scared by just listening your name [
][].And in the process of making money you have to be brain washed and learn how to brain wash other people. Good luck to all NM people!
Amit
guys,
We still have doctors debating whether we
need supplements or not. Some docs agree, some don’t. But i did see myself getting improvements from taking certain pills. And i have friends who take supplement pills and see their cancer reduce and heal. I have also doctors who advice me to take this and that supplements for such and such a symptom.Well you know how these research are, the result depends on how they run the tests and experiments. Just recently last year ,the Australian news on tv just released a new ‘discovery'(!!), that eating fish and mediterranean diet gives us Omega oils which are good fats! I thought, “gee thats OLD NEWS!” Well that info was known in the nutritional field worldwide for years and years already, but the government and some researches find it necessary to test and test again. If they dont see it with their own eyes, they think its not advisable to release such statements to the public.
I have read journals who say supplements works, and journals that say “no conclusion”. It doesnt matter, what matter is whats your experience with it. If u think it doesnt, and u dont like it, then dont take it.
Regina
You are incorrect.
The article in Medical Journal of Australia you have mentioned was not any study or review. They simply quoted from a review published in another journal: Ann Intern Med. 2003 Jul 1;139(1):56-70
If you actually read it in FULL the article, they say “Some good-quality cohort studies have reported an association between the use of vitamin supplements and lower risk for cardiovascular disease”
http://www.ncbi.nlm.nih.gov/entrez/query.fcgi?cmd=Retrieve&db=PubMed&list_uids=12834320&dopt=Abstract
They are not really saying that vitamins don’t work, are they!This article and its conclusions is old news as they did not include any newest studies.
And they only talk about cardivascular disease.It is true Regina that there are variety of opinins and it’s realy up to you what you chose to believe. It’s really fine with me that you don’t take supplements. But please get your facts right.
Do you know that scientific research pointed quite clearly in 1960s that supplementation with folate is absolutely vital to prevent spina bifida.
It took over 30 years for the medical professionals to recommend it. In the meantime tens of thousands of children were born with this horrible condition that could have been prevented so easily.
One of them is my friend. Her dream was to be a dancer… but she was born with spine bifida and can’t even walk. All because some people were dismissing good research for 30 years. How tragic!
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