The risk of financial loss should be a major concern to everyone. Whether your money has come from family, business, sports, entertainment or investing, no-one wants to lose what they have. After all, money may not buy happiness, but going from wealthy to having just enough to get by on won’t make most people happier. If this is a concern for you, the lessons in Avoidable Losses will increase the odds of keeping what you have and enjoying your lifestyle for years to come.
In today’s environment it’s essential to be aware of the risks that have the potential to cause you significant financial loses; and know what you can do to protect against them. Too often people just give their absolute trust to their financial advisers or business managers without making sure they are competent and trustworthy; or doing anything to determine whether the advisor’s firm has adequate processes and controls to protect you; or considering the risks in their investments or strategy. If you think about your current arrangements, are you, your advisors and others who have access to your wealth taking appropriate actions to reduce those risks to your wealth?
The focus of Avoidable Losses is different from most books dealing with investments or personal financial management. It is not on accumulating wealth through investing or minimizing your day to day living expenses. Instead it’s about how not to lose what you have, using real cases of professional athletes and other celebrities who have been victimized to educate others. After reading this, if you tell your advisor you want your money invested conservatively, you’ll know for yourself if it is.
Although Avoidable Losses was written primarily to provide guidance to professional athletes and other celebrities, it is clear that the same risks and principles are applicable to anyone with savings or investments. No-one, no matter how much or how little you have, is immune from being targeted in a scam, receiving incompetent advice or trusting a fraudster. Everyone should understand the risks that come from the wrong advisers, investments or strategies if you want to preserve what you have.
In today’s environment it’s essential to be aware of the risks that have the potential to cause you significant financial loses; and know what you can do to protect against them. Too often people just give their absolute trust to their financial advisers or business managers without making sure they are competent and trustworthy; or doing anything to determine whether the advisor’s firm has adequate processes and controls to protect you; or considering the risks in their investments or strategy. If you think about your current arrangements, are you, your advisors and others who have access to your wealth taking appropriate actions to reduce those risks to your wealth?
The focus of Avoidable Losses is different from most books dealing with investments or personal financial management. It is not on accumulating wealth through investing or minimizing your day to day living expenses. Instead it’s about how not to lose what you have, using real cases of professional athletes and other celebrities who have been victimized to educate others. After reading this, if you tell your advisor you want your money invested conservatively, you’ll know for yourself if it is.
Although Avoidable Losses was written primarily to provide guidance to professional athletes and other celebrities, it is clear that the same risks and principles are applicable to anyone with savings or investments. No-one, no matter how much or how little you have, is immune from being targeted in a scam, receiving incompetent advice or trusting a fraudster. Everyone should understand the risks that come from the wrong advisers, investments or strategies if you want to preserve what you have.
