121. Real Life Canada Market Crash Stories 2022 – Protect Your Wealth

Listen to Real Life Canada market crash stories 2022 and learn how you can Protect Your wealth. Get the FREE report 7 Simple Steps to Becoming Your Own Banker –  http://7steps.ca/ Wealth Without Bay Street EPISODE 121: In Wealth Without Bay Street EPISODE 121, Richard Canfield and Dan Allen share personal Canadian market crash stories they have each experienced from various market cycles. Dan reflects on his memory of the increasing interest rates in Canada during the early 1980s and a missed opportunity on oil company stock options. Richard tells 3 warning tales of Canadian Real Estate market crashes that impacted him financially. How one property dropped in value almost ten times and negative cash flow and staging a coup for a condo board. The third tale is a warning for investors lending money on secured mortgages. Richard just barely squeaked out of a private second mortgage deal where all of his capital was at the risk of loss. Contrast all of that to the peaceful stress free nature of contractually growing cash values with The Infinite Banking Concept in Canada. IN THIS EPISODE, YOU WILL LEARN: 0:00 Introduction 3:18 Flux of Change in the Market 5:44 Two Rules to Remember 7:54 Stock Market Crash in ‘08-’09 10:57 Investing Vs. Speculating 17:31 Learn From Successful Business Models 19:20 Dan Tells How He Lost Out on Company Stock Options 22:31 Richard Loses Money on a Rental Property 28:49 Richard Loses Money on a Land Development Deal 31:13 Richard Almost Loses Everything on a 2nd Mortgage Deal 38:09 Learning From Previous Mistakes 40:00 Do Your Homework Before Investing