193: The Real Investors of Wealth Formula Nation: The High Paid Doctor!

Our private group, Wealth Formula Network, has a biweekly zoom video call to discuss anything and everything about personal finance. These calls are a lot of fun for people like me who like to geek out on money stuff. If you are the only one in your social network who likes this topic, Wealth Formula Network is a great way to get your fix through an on-line community instead. On our most recent call, someone brought up a fund and wanted to know the groups thoughts on it. We broke it down and realized that there was really nothing AT ALL appealing about the opportunity. So what was it about this deal that attracted attention in the first place? Well, it was packaged well and presented in a way that, on the surface, made a whole lot of sense. You see, there are a lot of good marketers in the podcast ecosystem. These marketers understand that the podcast space creates a world that can grant immediate legitimacy for them through brand association. Let's say you have a podcast that you really like and feel like you really trust the host. If you hear someone interviewed on that podcast, it immediately legitimizes the interviewee as someone who can be trusted. I learned this the hard way as a podcaster. Early on, I would interview anyone with an interesting idea or concept just to get the content out there. But some of these people were raising money for deals that I wouldn't touch with a ten foot pole! I soon realized that I had essentially legitimized these opportunities by having someone explain them on my show. So…now I am very careful about who I interview and also give frequent disclaimers when someone is raising money. Anyway, the point I am making here is that it is critically important to use what you are learning and pick these deals apart. When you do so rationally with an objective stance, the negative elements of an offering are usually pretty glaring. It helps to do this exercise with a group of individuals of like mind. If you do it over and over, I promise you will get better at it and get really good at identifying bad deals quickly. We do this all the time in Wealth Formula Network where several of the real investors of Wealth Formula Nation share their experiences together. One of those investors is Dr. Ian Kurth, MD. Ian has become a real leader within our group. He is smart as a whip and works diligently at mastering personal finance concepts. For high paid professionals who work full time and want to create wealth efficiently, there is no better role model. And for that reason Ian is my guest on Wealth Formula Podcast this week. Don't miss it!