I cautioned my son a hundred times about keeping his distance from fire, but not until he stuck his curious little finger into a candle flame did he learn the meaning of “Be careful, son. That’s HOT!”

Behind closed doors I’ve been known to say, “You aren’t truly an investor until you’ve lost it all and know how it feels to be a loser.”

Once you’ve experienced loss, you never want to experience it again. Fortunately, losing is an event, not a permanent situation.

“Risk adjusted return” is a theoretical concept to a newbie investor, but it is an indelible, searing reminder to someone like myself who has ridden the financial roller coaster up and down and back up again. Thankfully, the experience of loss is a lot easier to talk about when you are no longer broke.  As actor Mike Todd famously said, “I’ve never been poor, only broke. Being poor is a frame of mind. Being broke is only a temporary situation.”

I am fortunate enough to be on the teaching faculty with Robert Kiyosaki on the 2012 Investor Summit at Sea.

In Mr. Kiyosaki’s best selling book Rich Dad, Poor Dad, he tells the story of building a multi-million dollar nylon wallet company from nothing and then going broke. He went from multi-millionaire to living in the back seat of his car. I think we all know he’s doing pretty well for himself today.

The up and down process of wealth is a character-building and wisdom-building experience you can’t comprehend until you’ve lived through it. We’ve all heard stories of Wall Street bankers jumping out of windows because their entire financial portfolio evaporated over night. While I can relate to the immense sadness and self-doubt that comes from catastrophic financial loss, I can’t comprehend taking my own life over something so ultimately trivial as money.

Money is a vehicle that has the ability to take you to a lot of amazing places, but the vehicle itself will never bring you happiness. Appreciating the journey is only thing that will bring happiness, regardless of whether you are driving a Porsche 911 or riding the bus. When you truly comprehend that your net worth is not a measure of your self worth, then real wealth building can begin.

Like anything else, investing is a sport we learn by doing. If you want to become a professional investor, you’ll need to practice a lot and sometimes that means falling down. You can talk about investor theory until you are blue in the face, but until you’ve invested through an up cycle AND a down cycle you will make rookie mistakes like everyone else. It’s called seat knowledge and there is no way to avoid it. However, there is a way to mitigate it and that is to learn from an investor who has made and lost and remade their fortune again and is not afraid to talk about it.

One of those people is my friend, mentor and investment partner – Mr. Ken Gain. Ken has been a real estate investor for over 50 years!!! He was a millionaire in his 30s but went bankrupt at age 47 in the Alaska real estate crash. “That almost cured my real estate addiction,” he says. “But by getting back into real estate, I have again prospered”. He tells his investor clients that “my greatest value is that I have made almost every possible mistake but have still prospered. Think of what you can do by avoiding my mistakes”.

In this sixty minute free webinar with professional investors David Campbell and Ken Gain. We will do our best to help you learn these powerful investor skills:

1) how to identify investment opportunities and business relationships that will bring you future prosperity AND current happiness.

2) how to create financial abundance without ruining your health, happiness, and relationships to get it.

3) how to clearly identify what you want out of life so you will make better investment decisions

ABOUT THE FACULTY:

Ken Gain has been a real estate investor for over 50 years!!! He holds professional designations in appraising (MAI), syndication (SRS), commercial / investment real estate (CCIM) and real estate counseling (CRE).  He was a millionaire in his 30s but went bankrupt at age 47 in the Alaska real estate crash. “That almost cured my real estate addiction”, he claims. “But by getting back into real estate, I have again prospered”. He tells his counseling clients that “my greatest value is that I have made almost every possible mistake but have still prospered. Think of what you can do by avoiding my mistakes”.

 

 

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