After many years of working as a private wealth manager, I have come out believing that there is an existing system that is designed to transfer the wealth of investors like you, people who have played by the rules all their lives. It's designed to take your retirement wealth and transfer it to others. I am going to talk to you about this system, which is none other than the Wall Street System.
Handing your retirement wealth over to the Wall Street System
The people and companies that make up the Wall Street System (WSS) have developed a system whereby they profit only by what they take from others, and in this case retired investors, without regard to whether or not you become more financially successful.
The financial services industry doesn't create wealth, it TRANSFERS wealth from one place (the investor) to another (them). The only reason the Wall Street System continues to operate in its current form is because YOU give it your money - your retirement wealth and ask little in return. The WSS only makes money if you leave it in their system, so, obviously, that's what they always recommend!
Financial Media Companies, The Wall Street System & The Retired Investor
The WSS exist only because investors are led into transferring their money in to it. However, if it's been able to continue its operations this successfully and for so long, it is because of the strong relationship it has developed with the Financial Media, Financial Product Companies and Financial Salespeople. These different groups feed off of each other - they're interwoven into an intricate web. Unfortunately, the financial media has had a significant impact on the retirement wealth planning choices and financial investment decisions of many individual investors. And as long as investors continue to be led by the information which the financial media dishes out to them, they will be seriously disadvantaged given that some successful Wall Street investors have already positioned themselves to profit from your late moves. Why? Because financial media companies make money by selling. They are either selling you advertising or subscriptions or books. How much they charge is usually linked to the number of viewers/readers. This certainly has an impact on the quality they produce as their focus is not so much the quality of their content but on how to keep increasing their viewers. If you have followed the different cycles of the financial crises which the US has faced over the years as I have been doing, you will come out knowing one thing; that viewers are most apt to turn to these financial business networks, newspaper, magazines, newsletters and websites during a period of financial insecurity!
A financial crisis or any other sort of economic uncertainty is usually a key trigger to investment panic. And financial media companies have learnt how to play this out to their advantage. The more drama they can build, the more important the crisis appears. As a retired wealth investor, you will need to watch out for these media antics if you expect to be able to comfortably and securely invest your retirement wealth.
How Best To Deal With The Financial Media - What Every Retired Investor Needs To Know
It is an established fact that more people watch or read the Financial Media during an economic crisis or in periods of high drama. Therefore, one can safely say that a period of financial crisis will mean good business for financial media companies as this will mean more readers / viewers. It's to the financial media's advantage then for there to be a crisis. If this is not happening locally, there will be other ways in which they can spun what is going on globally in to a crisis of some sort. Last year, it was the Arab Spring that dominated the news and projections on the implications it could have for investors. Then there was the Greek debt program and riots in the streets of Greece which still continues to this month. Then the focus shifted to Spain, Ireland and Italy. If there was a lull in those situations, the media could easily revert back to the problems here at home. There's always the next government report to be released that can rattle the markets. It's to the financial media's advantage for there to be drama.
The Financial media gets paid to create drama, if this will mean increasing viewers or readers. But what investors need in order to stay out of this web is accurate information, which they can apply when planning to invest their retirement wealth. The financial media would like to have investors believe that this is exactly what they deliver. How can this be true when they stand to gain by gluing investors to their screens through the drama they create? The financial media wants investors to think that they can't invest without them - that investors need them in order to make profitable investment decisions. This is certainly not true, as they aren't presenting any actionable information. But I will.
Join me for my next article, as I continue to share my perspective on the WSS and how you can continue to educate yourself on it.
This article is an excerpt of the latest book of Jeffrey Voudrie, How Successful Investor's Tripled The S&P 500: The Secret To Stop Playing By Wall Street's Rules, End Your Frustration, REGAIN Control Of Your Finances and NEVER Have To Worry Again. To find out more about this book and others in The Retired Investor's Survival Guide Series, pleaseclick here:
Jeffrey Voudrie is a Certified Financial Planner and nationally recognized financial advisor. Jeff has been in the financial industry for twenty-five years, and has been interviewed by The Wall Street Journal, CBS Marketwatch, Kiplinger's, The London Financial Times, The Christian Science Monitor, CFO.com and Financial Planning Magazine. For more information on Jeff, please visit:www.jeffvoudrie.com orwww.commonsenseadvisors.com