Is JP Morgan concerned about your financial future?
They must be. After all, they put out an article with the headline, “Every 25 Year-Old American Should See This Chart.” The article goes on to sell you on how compound interest works and the earlier you invest, the more money you’ll have in retirement. Bottom line, if you start investing when you’re 25, you’re way better off than if you start anytime later.
So, there you have it. JP Morgan is looking out for you. They want you to succeed financially. They want you to have a happy and bountiful retirement. They’re looking out for you.
But, I go back to my original question – Why is JP Morgan so concerned about your financial future?
Why do they care?
Well, the answer is not very nice. It’s not very comforting. Let’s face it, the truth can sometimes hurt. And, the truth is this …
JP Morgan does not care one bit about you or your financial future.
JP Morgan cares about one thing – making money. Not making money for you, but making money for JP Morgan.
Anything wrong with that?
Nope! All good.
But, you need to know the truth. We all need to know the truth. That way we can make better decisions.
JP Morgan is trying to get you to do something. They’re trying to get you to do something that may or may not be beneficial to you. If it benefits you, that’s fine. If it doesn’t, that’s fine too. JP Morgan doesn’t care.
What is it they want? What are they trying to get you to do?
It’s simple. Very simple. And, a winning formula …. FOR THEM!
They can’t lose.
You can.
JP Morgan wants you to give them money on a regular basis starting at age 25 or younger. And, they want you to keep on doing this until you retire at age 65 or older.
That’s it. That’s what they want you to do.
Very simple. Very easy. You can do it. They’ll set it all up for you; make it seamless. They’ll look after you take care of everything. No problem. No worries. For them.
For you, the problems and worries are just beginning. You see, you’ll be handing your money over to JP Morgan and essentially saying to them, “Make me rich!” You’re not only handing them your money, you’re handing them control. And, I’ve learned – the hard way (school of hard knocks) – that placing your financial future in someone else’s hands is a recipe for disaster.
Here’s another truth.
JP Morgan is not in business to make you or me rich.
Hope this doesn’t come as a surprise. But, JP Morgan is similar to the casino. The casino is not in business so you can make money. The casino is in business to take your money. JP Morgan is in essentially the same business; they want to take your money.
Anything wrong with that?
Nope.
But, just thought you should be aware of this basic truth.
Going to the casino can be a source of entertainment. Great place to spend a couple of bucks to see if you can hit the jackpot. But, when you go to the casino thinking you’re going to make money; that’s where all the problems start. The casino has got you. If you keep playing, they know they’ve got you. They’ve stacked the odds in their favor. The more bets you place, the more the casino likes it; the more money they make.
JP Morgan is playing a similar game except they’re asking you to trust them. You give them your money and trust them to make you more. They do this for a fee. You may find the fee sometimes overpowers your profits. Or you may find the fee is compounded by losses. “Oh, the market is bad right now. Just hang in there. It’ll come back.” JP Morgan still gets their fee. It’s the first deduction.
JP Morgan is a little different in that I don’t really understand what their service does to benefit the customer – the person handing over the money every month. I see this as a one way street – JP Morgan wins; customer loses. Customer takes all the risk; JP Morgan takes none.
So, I can hear you asking, “What am I supposed to do? I gotta invest in somehting!”
And, I agree.
And, here’s what I suggest.
Invest in tangible assets that you own and control. Assets that throw off positive – or near positive – cash flow every month.
Am I referring to assets such as residential real estate?
Absolutely.
Why not?
I challenge you to independently investigate the benefits of owning residential investment property and then compare it to what JP Morgan is offering.
I recommend you carry out this independent investigation prior to talking with anyone from JP Morgan or any other investment firm.
Go for it.