We got a visit from our financial adviser yesterday to update us on some of our investments and at the same time suggest that we should upgrade our portfolio by allocating more of our resources or diversifying more.
This guy is the husband of my wife’s cousin and I must admit, he’s one heck of an investor and adviser. Our retirement plan (In Canada it is called RRSP for registered retirement savings plan), which he helped us choose where to invest in, is still at a very good upward move even at harsh economic times like this. Though it has slowed down this past few months, overall the investment is sound and I hope it remains that way.
Anyway, Andrew (that’s his name) got curious with what I’m doing online and asked me about it. I told him that I’m trying to make it as an affiliate marketer or internet marketer. I told him how it work and subsequently he asked if I made some money out of it. I said that I made a few but also admitted that it’s not a profitable business for me at present.
After hearing this, Andrew told me about two clients of his who seem to be in same business venture like this. He said that both of them have already lost thousands of dollars and one of them was being divorced by his wife because he accumulated about $10k in credit card debt without any return while the wife was breaking her back working.
I am already aware of stories like this, in fact mine is no different from this two persons, except that:
1) I can’t afford to be $10k deep in debt,
2) As soon as I find out that one system is not working for me, I immediately cut off any association with it no matter how invaluable it may seem,
3) I cap expenses on coaching, PLR products and traffic building to an amount that is allowable in a business expense write-off
4) I don’t “fall in love” with any business venture,
5) I am part owner of our home based travel agency business, so I also pitch in the work load,
6) My wife will never leave me for any amount of money (LOL).
After telling me the horror story of his clients, Andrew suggested that, since I like researching and I’m online most of the time, what not try the stock market? Then he went on explaining how it works and even showed me his account at eTrade Canada. He may have spend like 2 hours showing us how to trade in stocks and thought we’d give it a try.
Now I have another investment opportunity that’ll keep me even busier. I don’t pass up opportunities like this without at least trying. It’s a bigger gamble than affiliate marketing but how will I know it’s potential if I don’t get into it? Here comes another business venture!