We attended the 10X Business Bootcamp where the main speaker was business mogul Grant Cardone. Grant is known for his sales training techniques over across the pond and he rarely comes to this side of the world. We wanted to take full advantage and attend the event in our Country’s capital in November.
Often these events feel like they end as soon as they start. The weekend is a mad flurry, meeting people, hearing perspectives, hearing business titans speak, trying to remember the best parts, being in unknown surroundings, sleeping somewhere new, eating at new places and so on.
As a result, we wanted to do a bit of a write up of our experience and how it relates to the investing world. We don’t want to forget what we learnt and we can share the experience with you at the same time. Two birds with one stone! As your wealth management in Manchester team, we want to be able to gather knowledge in anyway possible and get it back to you.
Lots of investment advice
Grant has almost £1 billion in assets under management. He loves investing. Much of his talks were about the pros of benefits and why everyone in the room should strive to make money and invest it. He talks about the importance of having investments as they are better than regular income. Investments, specifically property, are some of the safest forms of income. His massive apartment empire in particular, for example, cannot be sued or destroyed. A business or a job position can become extinct over night. Invested money is often protected, especially in a vehicle like property dotted around the country.
Everyone has different takes on the best types of investment. The truth is that they are all good if relatively stable, safe and paying you back at a higher rate than inflation. If you are being paid back 1% per year on your money, inflation is probably eating up what you are making anyway. The value of money is decreasing faster than you are making it.
Cardone’s spiel is to make as much money as you can, store it and put it into the best investments available to you. We agree with this sentiment and everyone should be looking to invest as much as they can as soon as they can. Maybe this £100k to you, maybe this is £1m
Meeting great people
As the theme was investing in one’s self and money – people had lots of questions for us when they found out our profession. Many were not sure whether to simply stick with property like the guys making the speeches were suggesting. Clearly, this is what has worked for them and good for them. However, property is not the only good investment out there. There are endless of good investments. We could not possibly list all of the excellent investment avenues out there. We have schemes right now that are paying clients a healthy percentage of their money back each year. They have to do something with the money and leaving it in the bank does not get the best return, that is why they turn to companies like ours.
So anyway, we met lots of cool people with interesting investment ideas and advice. We have stayed in contact with many of them and the contacts made paid back the investment undoubtedly
Lots of money advice
In the same light as the investment advice, there was lots of money advice. Specifically, Grant spoke about using the money. A lot of people save money. There is no problem with this. But save money for a purpose. Grant saves to eventually invest the money into something that will make more money.
He does not sit on cash for the sake of it. Sure, he always has some incase of an emergency, but this is indirectly using the money. You are using the money to have as a back up in the case of an emergency. If there was one thing we took away from the weekend it was to invest money. Use it and don’t lose it. But definitely use it. It has no use until exchanged for or with someone else. This aligns perfectly Wirth out industry and only fired us up more as we know that investing is the way forward to create real wealth.
A good old dose of motivation!
Everyone is a sucker for that feel good motivation factor! Although we are confident this will wear off, the event was inspiring and therefore motivating to take action. This can’t hurt and will last for a few weeks, perhaps a few months. Maybe the trick is to do a few of these each year to relight that fire to provide a fantastic service…
That’s it for now on the event. Hopefully this was interesting and get in touch if you want to clarify anything we have written. Or if you want more specifics on what we learnt from the event, feel free to get in touch for that too.
P.S. – You can find all sorts of wealth management events if you simply scout the internet. Although this was not a wealth event per say – there was certainly lots of wealth there. There was a wealth of knowledge, people and money. A great combination. If you can find an event that you suspect to be good (clarify with reviews etc.) we would say it will be worth a lot more than the ticket you paid for. Tickets for this even went up to £5,000. Other events can be far more costly.
Also published on Medium.