the person who is “telling” you how-to invest is doing it through their perceptions. Some teachers are all about leveraging and being very aggressive about it.

Jeanna: Yes, and that is not for everyone. That can actually shut some people down. Everyone’s style is different when it comes to money. Some people need to lay out a step by step plan, and be slow and methodical. Some folks may need to take smaller steps and smaller risks.

Todd: The reason why I think good coaching gives you better results is because of the accountability factor and we get to witness people’s be

It started out as a simple conversation between Todd Tresidder and myself. We were discussing some of the big coaching/mentoring seminars that are all the rage about financial investing. Todd retired at 35 years old after selling his hedge fund business. He coaches because he loves it and we’ve had lots of great conversations about the way people think, react and behave with money.

Here are the highlights of a very honest discussion about the best way to convert to a wealth mentality in your mind and wallet. You’ll be surprised by some of what you read.

Todd: What do you think about these programs that have great marketing pitches about teaching to invest and be wealthy?

Jeanna: I think the marketing is amazing! I want to be that compelling! People are running to the back of the room after attending a “free” seminar and plunking down thousands of dollars to be transformed. Most of the time the “financial guru” isn’t present during the “coaching” sessions. The participants get motivated by the programs but I don’t see most of them acquiring more wealth.

Todd: You pay for this, you get that. They’re cookie cutter. They state clearly in the marketing materials the value you are looking for. Everything sounds great and it’s delivered succinctly. Remember, the free classes are a way to get people in the door. Their purpose is to upsell you into their programs. Every marketer knows, the money is in the upsell…back of the room sales.

BUT…every person has different risk tolerances, values, resources and backgrounds. The advice is mostly generic advice. Some folks are living on a paycheck and getting a W-2 at the end of the year. Their strategy will be different than someone who runs a corporation. The advice you give someone also depends on their current strategies. What if they are focused on paper assets? It also depends on how much time they have to build their wealth. Older people need to increase their wealth in a shorter period of time.

When you sign up for those big seminars you think you are signing up for the solution to all of your wealth problems. People are looking for a quick fix. Attaining wealth is a process… life long process.

Also, some financial gurus give you half truths. They leave out a lot of details. Some are just flat out wrong. You also have to keep in mind, the person who is “telling” you how-to invest is doing it through their perceptions. Some teachers are all about leveraging and being very aggressive about it.

Jeanna: Yes, and that is not for everyone. That can actually shut some people down. Everyone’s style is different when it comes to money. Some people need to lay out a step by step plan, and be slow and methodical. Some folks may need to take smaller steps and smaller risks.

Todd: The reason why I think good coaching gives you better results is because of the accountability factor and we get to witness people’s beh

hink about these programs that have great marketing pitches about teaching to invest and be wealthy?

Jeanna: I think the marketing is amazing! I want to be that compelling! People are running to the back of the room after attending a “free” seminar and plunking down thousands of dollars to be transformed. Most of the time the “financial guru” isn’t present during the “coaching” sessions. The participants get motivated by the programs but I don’t see most of them acquiring more wealth.

Todd: You pay for this, you get that. They’re cookie cutter. They state clearly in the marketing materials the value you are looking for. Everything sounds great and it’s delivered succinctly. Remember, the free classes are a way to get people in the door. Their purpose is to upsell you into their programs. Every marketer knows, the money is in the upsell…back of the room sales.

BUT…every person has different risk tolerances, values, resources and backgrounds. The advice is mostly generic advice. Some folks are living on a paycheck and getting a W-2 at the end of the year. Their strategy will be different than someone who runs a corporation. The advice you give someone also depends on their current strategies. What if they are focused on paper assets? It also depends on how much time they have to build their wealth. Older people need to increase their wealth in a shorter period of time.

When you sign up for those big seminars you think you are signing up for the solution to all of your wealth problems. People are looking for a quick fix. Attaining wealth is a process… life long process.

Also, some financial gurus give you half truths. They leave out a lot of details. Some are just flat out wrong. You also have to keep in mind, the person who is “telling” you how-to invest is doing it through their perceptions. Some teachers are all about leveraging and being very aggressive about it.

Jeanna: Yes, and that is not for everyone. That can actually shut some people down. Everyone’s style is different when it comes to money. Some people need to lay out a step by step plan, and be slow and methodical. Some folks may need to take smaller steps and smaller risks.

Todd: The reason why I think good coaching gives you better results is because of the accountability factor and we get to witness people’s be

marketing materials the value you are looking for. Everything sounds great and it’s delivered succinctly. Remember, the free classes are a way to get people in the door. Their purpose is to upsell you into their programs. Every marketer knows, the money is in the upsell…back of the room sales.

BUT…every person has different risk tolerances, values, resources and backgrounds. The advice is mostly generic advice. Some folks are living on a paycheck and getting a W-2 at the end of the year. Their strategy will be different than someone who runs a corporation. The advice you give someone also depends on their current strategies. What if they are focused on paper assets? It also depends on how much time they have to build their wealth. Older people need to increase their wealth in a shorter period of time.

When you sign up for those big seminars you think you are signing up for the solution to all of your wealth problems. People are looking for a quick fix. Attaining wealth is a process… life long process.

Also, some financial gurus give you half truths. They leave out a lot of details. Some are just flat out wrong. You also have to keep in mind, the person who is “telling” you how-to invest is doing it through their perceptions. Some teachers are all about leveraging and being very aggressive about it.

Jeanna: Yes, and that is not for everyone. That can actually shut some people down. Everyone’s style is different when it comes to money. Some people need to lay out a step by step plan, and be slow and methodical. Some folks may need to take smaller steps and smaller risks.

Todd: The reason why I think good coaching gives you better results is because of the accountability factor and we get to witness people’s be

omeone also depends on their current strategies. What if they are focused on paper assets? It also depends on how much time they have to build their wealth. Older people need to increase their wealth in a shorter period of time.

When you sign up for those big seminars you think you are signing up for the solution to all of your wealth problems. People are looking for a quick fix. Attaining wealth is a process… life long process.

Also, some financial gurus give you half truths. They leave out a lot of details. Some are just flat out wrong. You also have to keep in mind, the person who is “telling” you how-to invest is doing it through their perceptions. Some teachers are all about leveraging and being very aggressive about it.

Jeanna: Yes, and that is not for everyone. That can actually shut some people down. Everyone’s style is different when it comes to money. Some people need to lay out a step by step plan, and be slow and methodical. Some folks may need to take smaller steps and smaller risks.

Todd: The reason why I think good coaching gives you better results is because of the accountability factor and we get to witness people’s be

the person who is “telling” you how-to invest is doing it through their perceptions. Some teachers are all about leveraging and being very aggressive about it.

Jeanna: Yes, and that is not for everyone. That can actually shut some people down. Everyone’s style is different when it comes to money. Some people need to lay out a step by step plan, and be slow and methodical. Some folks may need to take smaller steps and smaller risks.

Todd: The reason why I think good coaching gives you better results is because of the accountability factor and we get to witness people’s behaviors as they are in motion. That’s when the break through’s occur. You can’t witness that in a big seminar. They give how-tos. Brain Klemmer always says, “If how-to’s were the answer, we’d all be rich, skinny and happy.”

Most programs are how-to structured and not person focused. If you’re going to be wealthy- it has to be about you.

Jeanna: HA! That’s good. It’s true. I tell people who take my Get Your Body Humming teleclass that they will most likely get all the information they really need to know in the first two classes. The results will occur anywhere from the first month to six months. It takes time to change the behaviors and thinking. It takes hitting some bumps sometimes for many of the how-to’s to sink in. You need to apply the how-to’s and see how they fit for you. Then adapt them to your values and thinking.

I always giggle when people think that buying rental property is passive income. You have to keep your finger on the pulse of your real estate investments, even if you have somebody else managing them. It’s a business.

Todd: Yes, and there are repairs and upgrades you need to do on the property.

I’m writing a report right now titled “Consumer’s Guide To Financial Advice.” I think a great title is “Just Say No To Financial Advice.”

Jeanna: How should the average person choose a good financial advisor?

Todd: You have to have some base level of knowledge. In 2-3 months you can know more than most financial advisors by reading some well chosen books.

Jeanna: That a pretty bold statement!

Todd: This is not shocking news. It’s a common known fact that financial advisors are not trained in finances…they are trained in sales. It’s not a conspiracy. There are exceptions to this...there are some very qualified advisors out there.

You need to keep in mind, most advisors are conflict ridden. What they say they believe in- is colored by where they stand. How are their pockets lined? Financial advisors money in is in the products they sell. It’s the Keds Syndrome. They have to put Keds on their kid’s feet. What they sell you is based how much money they make off you. They’ll show the past performance of a fund. Past performance is no indication of future performance. It’s been proven.

Jeanna: Can you give us the names of the books and aut