Is there anything actually GOOD out there?

I have to admit I'm a little disheartened. Every "investment opportunity" I've come across in the general public that didn't come from a bank, or proper financial institution has failed dismally, ended up as a scam or a fraud, and has hurt me, and people I've referred to these things to help me do due diligence have also been taken.

Hell one of the things I've been involved in even has a DOCUMENTARY being done on it.

However with all of the obstacles and problems in the way of reaching my goals of financial freedom, I still believe that there must be something out there - an opportunity that beats the odds and creates a place where ordinary people can create a vehicle for financial freedom in this world.

Something that I would like to do is to create a coalition of the willing. A group of individuals who will put their skills to the test to assist in creating a system to help find and vet investment opportunities for ourselves to better our own financial IQ, knowledge base and in turn produce a group of savvy and successful investors.

Having said that, I am changing the face of Infiniti Point Strategies for those of you who have tried to check on the website as of late - you've found an "under construction" page for the last little while. We're getting closer to creating the new system - but this time we're focusing even DEEPER on the educational aspects, bringing in successful guest speakers, finding the courses and knowledge to better improve your financial IQ, and perhaps finding joint venture partners along the way to make the world a better place for everyone. My dream still exists to catch that Infiniti Point - and with perseverance, focus, and a little luck - we'll create the stars from which we wish upon.

Fall from Grace.

So let's all trade "my worst day ever" stories shall we?



In one simple email, from a person that I thought I could trust to get things done properly - laid the very worst case scenario position I could ever hear about. Horizon FX Investments was linked to Razor FX Investments in a Fraudulent Ponzi scheme that would wipe out at least 26M of investor money from our side of the fence. Talk about a hard pill to swallow...



At this point in time, I was sitting in a meeting learning more about purchasing Real Estate, and I had already marked myself down for 3 properties - none of which I'd have the money for at the drop of a hat. As I read the email, I felt sick to my stomach, and simultaneously thanked the stars that there was a cease trade order on Horizon to prevent even more of my friends, family, loved ones and acquaintances from further harm. The thought of hurling myself off of the penthouse balcony shortly after the presentation also sounded quite inviting at the time as well, but if it hadn't been for my wife, and baby on the way the lure of the pavement below might have enticed me to try and fly.



With the thought of suicide passing through my mind - the very next thought I had was to immediately find Gem to ensure that he didn't jump himself. First of all was that he was a friend from my previous life at Business Objects - second was a selfish thought that he was my only connection to the supposed "traders" that had run off with our money! Needless to say, the last pieces of the presentation were a blur, but I'll get back to that LAND opportunity later. I'm starting to seriously think that real estate might be a really damn good option to pursue at this point in time seeing as I can touch the ground, the bricks, swing the door and ride up and down the elevator to convince myself that it is, in fact: REAL.



Needless to say there was a bit of a panic among my 1000+ customer base (how much of it is still around I have yet to find out) who trusted my initial due diligence on the historical reports that HFX provided. For those of you that know me - I am a novice forex trader, but knew enough back then how to back test the data - and it all came back just fine. However the problem was that I had stopped testing the new data, and chalked it up to a typo when my Chief Trader overseas told me that the reports were off a few times in the last few weeks. Lesson learned - never stop testing. Next time, that'll have to be part of the situation - among many other safety methods for the collective investment group.



I've had some time to cool off and think things through a bit. Hindsight being 20/20 - here's a summary of the lessons learned so that nobody repeats the same mistake:



1) I don't care how long you've known the person running the company - get background checks on the traders and the principles of the company and all that are involved. PERIOD. Never trust anyone to get it done for you - no matter what. Make friends with the police and get a regular account going with them. Hell, make friends with the gangsters so they can run background checks from their end. Do what it takes to make sure that the investment is running clean.



2) Apart from due diligence, the next step in the phase is vigilance. Check, doublecheck, triplecheck, and keep checking as a religious ritualistic procedure to ensure that you don't get caught blindsided by evidence that would point to your investment not being as "sound" as the owner says it is.



3) Learn the industry. You don't have to become a master at it, but learn enough to network your way to the people who are strong enough to help maintain the vigilance at a level higher than your own. Then strive to increase the thoroughness of the testing. You can never be too sure. Taking a calculated risk is required - but keep your hands on the calculator.



4) Diversify, not diworseify. From now on in, I'm going to fix the spread on my investments across multiple markets, and adjust more often. Currencies, Stock, Real Estate, Commodities.



================



To all of the investors that have believed in me on this one - I apologize. I truly didn't see it coming. I think my immediate and extended family lost just over 2M on this. Hence lesson #4 - I'll keep in mind not to overextend again - ever. I had personally tested EACH and EVERY line of the historical reports and they fit to the graphs that I have purchased. These guys were professionals in this arena - so let's all be better prepared for next time.



What are the next steps to take?



1) Seek legal counsel.

2) Join others that are looking to either a civil suit or class action suit

3) Collect all email or written documentation with HFX.

4) Save all your weekly reports

5) Ask your bank for all documentation that supports deposits or withdrawals

6) Talk to your accountant about possible write-offs from this investment loss.

7) Contact the BC securities commission to see what they are doing about this.

8) Keep your head up. This sucks for everyone but the only way you are a victim is if you let this defeat you.

9) Call the US DOJ and get a claim number if you can.

10) Find the case number and post on this site so we can all keep updated.

11) Contact any other investors that you know and alert them about this site so that we can work together as a team rather than lost individuals.

12) Contact the BC or Canada DOJ to see what kind of help they can provide us all.BC - http://www.gov.bc.ca/ag/ CAN - http://www.justice.gc.ca/en/index.html



================


On a personal note - although I too was burned by this, I'm creating a fund from my other investments to work on helping those that overextended to the breaking point financially. It's not that you shouldn't be more careful and expect someone to come bailing you out in a riskier endeavor - however if you came in under my wing, or the Infiniti Point flag - know that I will not rest until I have protected each and every last one of you, at least to an extent. We're currently looking over our legal options, alongside other avenues to recoup what we can from the lost money. The iPoint HFX victim's fund will be started immediately to help those in need. I'll also be contacting accountants to give us options on mitigating the loss in its current form to our utmost advantage (tax write offs - hopefully something other than capital loss/gains).


With a heavy heart - it's hard to start the year out with a large loss, but it's only through a fire that a phoenix is re-born. I still believe this is a year for opportunity. It can't get much worse than this now can it? Join the group currently at the hfxscam wiki to find out more information as things progress. Check out Karl's blog for more too.

Although the sound of a "normal" job sounds really enticing to even me right about now, I still do believe that there are opportunities out there for someone in the middle class to attain a higher standard of living without the need to sacrifice time that could be spent with family and more pleasurable and humanitarian pursuits. So keep your head up, don't let this loss drag you down, and keep striving to reach the Infiniti Point. I dreamt that I touched it once - and I still believe that it is within our reach to find a true and real opportunity out there. I've been demoted from a humble student to a now shamed and humble student. All the more reason to work harder at working smarter.

Infiniti Point: To Tax Shelter, or Not to Tax Shelter?

Wikipedia: Tax Shelter
Merriam Webster: Tax Shelter

Always think of any and all tax shelters as a temporary boost in capital - or a temporary loan from the government. It matter not about the strength of the program, the political backing, or the different laws or exemptions that it uses - but what you do with the money in the time between receiving the return, and having to pay it back.

That's right - the proper usage for a tax shelter is simply to attain capital to invest in something that generates a higher rate of return than the penalties attached to using said tax shelter. Done properly you will come out with a significant gain. You can't play a rich man's game with a poor man's mindset. Stop thinking about the structures as a point of "winning vs. losing" against the CRA. They will always have deeper pockets than you.

In using the term "lose" - that would be in the case if you participated in a tax shelter, then spent the money on liabilities. The only way to truly come out ahead - and "win" is to make the money grow. Whether it's in real estate, the foreign exchange market, or elsewhere - just plant the seeds to win the game.

When Infiniti Point Strategies selects a tax shelter - it's for the structure of the shelter to be strong enough to meet the following criteria:

1) To be strong enough to be defensible in a court of law - up to supreme court. - This allows for the longest amount of time before the court cases end, and in turn generates the most amount of growth for the clients' investment choices.

2) To support real charities with real causes - in our own backyard. Helping Canadian charities is our primary philantrophic goal when choosing to support it with Canadian Tax Dollars. The rear view mirror test in the case where the charity could exist and continue to do good works regardless of the tax shelter associated with it is an excellent test to put to a tax shelter program.

For those of you who haven't invested yet, there's no better time to start than the present.

If you're still not sure about the temporary benefits of a tax shelter, check out these links sent to me by an ex-co-worker of mine.

http://www.metronews.ca/story.aspx?id=98596
http://www.nationalpost.com/story.html?id=01a7a395-5b33-4925-9453-27acacf8a7cd&k=51696
http://www.thestar.com/News/Canada/article/287682
http://community.intuit.ca/discussion/index.php?showtopic=26826

Following up on the CRA’s intentions, there’s still a way to participate in tax shelters and make financial gains regardless of how the courts turn out.

Worst case scenario.
Let’s assume that CRA charges us 9% per annum (it’s between 8 and 9) as interest, and disallows the claims for 100% of the donation, Cash and otherwise.

So here’s an example of $2000.
$2000 1:5 Ratio = $12000 total receipts x .437 = $5244

CRA has 3 year statute of limitations to challenge shelter. Assume they wait until the last minute to gather highest interest.
Let’s also assume that your investment is growing at a 30% rate per annum (worst historical growth for one of the opportunities that I show people.)
The shortest court case on Tax Shelters was about 8 years – I’ll assume 5



Even after the capital gains of the investment are taken in account – you’re still at a net positive position when compared to the interest requested from the CRA. In the case where you’ve already spent the money – you can still set aside the same amount for a shorter period of time (3-5 years as opposed to 8) and still make a profit, even from borrowed money.

Fran's Guide to Obtaining and Maintaining Excellent Credit.

One of things that I want to explore in greater detail is the concept of credit.
How do I obtain credit?
How do I check my credit history?
How can I repair any errors in my credit report?

Perhaps ipoint could look into getting an alliance with a group that can help our client base increase and maintain their credit scores so we have a stronger overall group to learn together with, and perhaps run joint ventures with.

In my travels I ran into an excellent credit article in a forum. With the author's permission, I've re-posted it for people to share in. Hopefully someone can "Canadianize" it and re-post it as an article for the ipoint group. Either way, at least I'm taking the steps to learn about the wide world of finance from all of its facets.

In America, your credit is based on credit history. The longer you have credit, the more prompt your payments, and the lower your balances, the better credit you will have. Unfortunately, having no credit is usually just as bad - and in some cases worse - than having bad credit.

Why Credit is Important

It seems that the old days of paying for everything with cash are gone. Doing so these days will actually cost you additional money - potentially thousands of dollars. Your credit - like it or not - plays a huge role in many things that you do. It affects your insurance rates, is utilized by many apartment complexes to approve tenants, obtain credit cards, vehicle loans, and mortgages. Recently, quite a few employers have recently started screening for potential employees by examining their credit. The fact is, it is hugely advantageous to have a high credit rating, and likely will make life much easier on you - not to mention much less expensive in the long run.

The difference between good and bad credit on large purchases is tremendous. A person with a poor credit rating will generally pay tens of thousands of dollars more in interest than someone with average credit, and a person with excellent credit will pay even less.

The Credit Reporting Agencies
There are three main credit reporting agencies. Some institutions use what are called tri-merge bureaus, which is pulling information from each bureau and combining it into one. Others use individual CRAs, which usually vary by the area. In the Midwest, for instance, if we are using a single CRA, we use TransUnion.
You can get more information about each Credit reporting agency, as well as order your credit report to check your score and/or accuracy at these websites:
www.transunion.com
www.equifax.com
www.experian.com

Types of Tradelines

Basically, a tradeline is simply an open line of credit. There are several different types, which we will discuss.

Revolving
Usually the most common type of tradeline out there, it simply means that it is an open-ended line of credit. You can borrow money on it, pay it back, and then re-borrow without having to reapply for the tradeline. The most common revolving credit lines out there are credit cards, although some institutions do offer revolving lines of credit and other products. These types of tradelines usually have payments that increase or decrease according to the balance of the loan. These types of loans are generally frowned upon by potential borrowers.

Installment
This tradeline is a type of loan that you borrow $X on and pay it off over a set timeframe. An example of this type of loan would be a vehicle loan. These types of loans generally have fixed payments.


Mortgage
Basically, any type of loan using real property as collateral is considered to be a mortgage. These are typically installment loans, but there are other revolving products out there, such as lines of credit. These types of loans help your credit the most and damage your credit the least.

Obtaining Credit

Basically, it is usually very difficult to obtain credit when you have no credit history. The easiest ways to obtain credit would be either with a secured loan, secured credit card, or a co-signer.

Secured Loan/Secured Credit Card
Getting either a secured loan or credit card is probably the easiest way to get credit without help from others. Basically, with both a secured loan and a credit card the lending institution is lending money out to you because they have collateral. Collateral is something that is used to guarantee payment - common collateral are vehicles, homes, and funds. In most cases, these credit cards and loans will secured by funds - that is, cash you have in the bank. Generally, you will be required to deposit $X into an account with the institution. In this example, we'll use $500 as $X. Once your $500 dollars are in the account, they put a freeze on it - making it impossible for you to withdraw those funds until the account is closed or the funds are released. The institution will then issue you either a credit card or a secured loan, using those frozen funds as collateral.

If it is a credit card - secured or unsecured - never, ever charge over 50% of the credit limit, even if you pay the card off in full each month. The reasoning behind this is because potential lenders like to see that you still have funds available on your open lines of credit - that you are being responsible with it. The reasoning you can't ever do it is because the company that holds the credit card reports to the Credit Reporting Agencies (from now on known as CRAs for the sake of typing less) only once per month, effectively taking a "snapshot" of your current balances. If you are maxed out, even if the check to pay off the balance is in the mail, it will reflect poorly on you.

If it is a secured loan, although it may be tempting because it is costing you money to pay interest, don't pay it off early unless you have found a better alternative. Credit history is exactly that - history of your payments. The longer you have the loan, the better off you'll be in the long run. Look at the money you are paying in interest as an investment - maybe even the best you have ever made. With good credit, you will save tens of thousands of dollars in interest on big ticket items, such as a house.

To obtain either a secured credit card or a secured loan, I would suggest checking with your local banks or credit unions, and avoiding any cards with an annual fee. As long as you pay your balance off on full each month on credit cards, you do not have to pay any interest.

Cosigner
A cosigner is basically another individual put on the note ( loan) that is also responsible for payments. The cosigner is 100% responsible, they don't have any less responsibility than the actual borrower. If the payments are late or the loan defaults, the cosigners credit will be damaged just as much, if not more, than the borrowers. Using a cosigner will often allow you to obtain credit that you normally wouldn't be able to obtain without any other credit history. Lower interest rates, longer terms, or even just getting approved are some examples as to how cosigners can help. Having a cosigner on a note doesn't really matter as far as building credit goes, it will either increase or decrease as if you were on the debt alone.

Maintaining Credit

Basically, once you have obtained credit, maintaining it will be the key that will eventually unlock the "excellent" credit door. Time is both your friend and enemy - it will, after a number of years, erase any poor credit you may have, but it will also take a while to build good credit.

The key to maintaining and improving credit comes from six main factors. These factors are:
Payment History
Length of time accounts have been established
Keeping your balances below 50% of the limit
Having little unsecured debt
Having low outstanding balances
Number of Tradelines

We'll examine them a bit further

Payment History
This is by far and large the most important factor, and one of the biggest contributors to either helping or damaging your credit rating. Having a flawless or near flawless payment history is the best way to keep excellent credit. Payments are reported late only if they are 30+ days delinquent. Not that I would recommend it, but that means you could be 20 days late every month on your credit card payments and still have perfect payment history - although I would imagine you would be paying quite a sum in fees and interest.

Length of Time Accounts have been established
The longer accounts have been open, the better it will reflect on you. A credit history of 10+ years is very, very good.

Keeping your balances below 50% of the limit
This is important because the CRAs keep track of the highest balance you have ever carried on your revolving credit - aka credit cards or other revolving lines. Fortunately, however, if you were near or over your limit, the more time that passes the less it affects your score. If you recently went near/over your limit, a quick fix to this is to simply increase your credit limit and don't every go above your previous high balance.

Having little unsecured debt
The less unsecured debt you have the better off you are going to be. Unsecured debt is basically debt that you have that does not have any collateral attached to it - the most common unsecured debt is credit card debt, although there are other unsecured products out there.

Having low outstanding balances
Basically, this is regarding your total debt. Mortgages don't seem to have a whole lot of effect on this, but credit cards, vehicle loans, and other installments loans do play a role in this total. The less the debt, the better the credit

Number of Tradelines
The ideal situation is to only have 2-3 credit cards out there for unsecured debt, maybe a vehicle loan, and a mortgage. Believe it or not, you are actually penalized for not having any revolving credit lines out there - which would include credit cards. Many people have dozens of open accounts and never use them. There is absolutely no reason to have 10-15 or more credit lines open, even if you have no balances, the amount you could potentially borrow plays a role in calculating the score. Also, when closing accounts, make sure you actually contact the institution to close it, simply cutting them up and throwing them away isn't actually closing the account.

The Credit Score

Your credit score is simply a score assigned to you by the CRAs. They calculate your FICO score based on a variety of criteria, much of it is mysteriously shrouded. C'mon, you know everyone likes being graded on things where the rules aren't given to them, right?

Hopefully this will shed a little light on the topic...

Basically, the higher the score is, the more likely you are to repay your outstanding debts. By following this guide, you should attain a high score with relative ease - and keep it that way. However, there are a variety of little nuances that also affect it that many people are unaware of. For instance, applying for credit actually damages your score. If you often apply for credit and have a lower score than you feel you should, this is likely the reason. If you want to inquire about interest rates with several different companies, call them all on the same day. Several inquires lower your score far less if they are made the same day than those same inquiries spread over several days or several weeks. This is to allow the consumer to be able to shop around for rates and what not, without taking the full impact of applying at each place. Other factors include things I have mentioned above, and likely several others that I am unaware of.

Credit Myths and Legends

Paying extra payments/the account off faster helps your credit
False - Credit History is simply whether or not you make your payment on time or not. It doesn't actually show the amounts that you paid, simply whether or not it was on time - No more, no less.

It is good to have many accounts with no balances
False - Having many open accounts will actually reflect negatively on you. Potentially Lenders look not only at your current balances, but the actual amount you can borrow at any given time

A higher income will give you better credit
False - Nowhere does your income report to your bureau - it certainly will be a factor when trying to get approved, but doesn't actually help your score

Staying at the same Job Helps your Credit
True - If you are employed at the same place for more than 5 years, it will have a tremendous positive impact on your scores

Only older people have good credit
False - Young people can have good credit also, although admittedly, it is much harder to get your scores up due to the lack of activity

It only takes 2-3 months to get good credit when first starting out
False - It actually takes 6 months of continuous reporting before you even get a score, most lenders won't touch someone who does not have a score without a cosigner

Being an authorized user on someones card helps your credit
True - Usually, it will report to the bureau exactly like a card on your name - although of course, it will not be helpful if the person is near the limit or late on payment

It's ok to charge up to the maximum limit on credit cards as long as you pay it off each month
False, see above where I explain how the reporting works - the "snapshot" of your credit doesn't necessarily reflect if it is paid in full each month or not.

Author:
Fran Bourassa

Well - if anyone can find any groups that would do more good than harm in the credit realm for the ipoint community, drop me a line and let's see if we can't create a synergy.

Cheers,
Earl

Moving the toothpick.

So, it's funny what people notice and don't notice, learn or miss, or observe and assume. We all have our own natural skills and instincts that allow us to benefit from our abilities to adapt and change that we sometimes take for granted.

Apparently my business coach tells me that I have an innate ability to establish relationships with people at a deeper level than most. This is a good thing AND a bad thing. First of all, let us establish the ranking systems of said skills

1) Conscious Competent
2) Unconscious Competent <-- Earl is HERE (Relationship Building)

3) Conscious Incompetent

4) Unconscious Incompetent

The problem with being unconsciously competent is that I'm not aware of the skillsets that I'm using (or not using for that matter). However the fact of the matter is that we're all unconsciously competent in one field or another. But we'll visit this at a deeper level another time. Today's lesson was a simple but eye opening one. Alvin Yip and I were having dinner at Earl's Restaurant on Lougheed Hwy and I watched him eat his very intimidating hamburger when I noticed him do something that to me was completely out of the ordinary. Instead of pulling out the toothpick and making a giant mess of a sandwich, or eating around the toothpick to keep the structural integrity of my sandwich intact (yes, this is about as profound as I get around 3am) he just moved it to another part of the sandwich.

1) Conscious Competent

2) Unconscious Competent

3) Conscious Incompetent

4) Unconscious Incompetent <-- Earl is HERE (Structural Sandwich Eating)

The funny thing is that all of this time, I thought that I was destined to always have a mess on my hands at the whim of my sandwiches. However on Alvin's side, he was already running a corporation and able to write off many things before I had even realized that this was the more tax efficient way of living. Strangely enough is that he was looking forward to finally earning a steady regular paycheque back then, and he's working his darndest to go back to the structure where he could write things off again. It took the Infiniti Point project to show him that he was once already on the right path, and how to get back on it, and it took dinner tonight to teach me how to move the toothpick to a different part of the sandwich so that everything is still held together, and I'm no longer hostage to the combination of bread and fillings. Overall, I'm thinking... good trade.

Taking the first step to being rich and successful

A good friend and mentor of mine once asked me if I would rather be smart, or lucky. I thought about this for awhile, and the idea did cross my head that technically if I took it the wrong way, he just called me stupid... After letting the whole ego thing out of the way, I decided to go a little deeper and thought that technically lucky would be better than smart because you can become educated, but cannot truly buy luck.

Since then, I wonder if the successes I've had along the way have truly either been through hard work and determination, or just plain luck. Perhaps a bit of both? I've since stopped trying to be quite as "smart" although I still try to learn all that I can. There's no need for me to truly play all of the roles now that I understand where my strengths and weaknesses lie.

However the one thing I've noticed is simply the drive and determination I have that seems to surpass all other wants and needs that I have. The want to succeed. To be able to make my mark on this world before I am gone. Something to be remembered by. In Napoleon Hill's book, Think and Grow Rich - he mentions a "burning desire" to reach said goals and accomplishments.

Funny enough people fail and continue to fail to take the first step. For those of you who I'm coaching and training to take over the business eventually and work alongside me, I know that you always come across the closed minded folks who never even give the thought of freedom a chance. The FIRST step to success is to BE THERE. Just friggin show up. All you have to do is try. I'm not saying that it will help you win the game overall, but if you never buy a ticket - you're never going to win the lottery

Brandi the blond is in such serious financial trouble that she decides to ask God for help. She prays, “God, I lost my business and if I don’t get some money soon, I’m going to lose my car. Please, God: let me win the Lotto.”

But Lotto night comes and goes and Brandi’s numbers don’t come up. Again she prays, “God, I’ve lost my business and now my car and if I don’t get some money soon, I’m going to lose my home. Please, God: let me win the Lotto.”

But again, Lotto night comes and goes and Brandi’s numbers don’t come up. In desperation she prays, “God, I’ve lost my business, my car, and my home and if I don’t get some money soon, my children will starve. Please, God: just this once, help me get my life back in order. Let me win the Lotto!”

Suddenly there is a blinding flash of light, a roar of thunder, the heavens open and Brandi hears the voice of God Himself!

“Brandi, my child! Meet Me halfway on this. Buy a ticket!”

taken from here .

Now all I'm asking for is a little initiative. All you have to do to take the mantle of leadership upon yourself and move to the next level is to TRY. If you want to help yourself, help me, help others, it's your move.

Keep in mind that although I'm not taking on any new clients or students directly (I've already chosen the 15 first ones I will take with me to their first million) - I'm still sharing the results of the trials and tribulations that is the minefield of investments and opportunities out there by being your guinea pig. Walk with me towards the Infiniti Point and we can lean on each other on the way up.

Cash Flow (Literally)

Another week, another post - this one is just a commentary on something that Karl Fulljames found on another blog on the Internet.

In relation to Cash Flow, the Blog called: The Tao of Making Money illustrates the cash flow patterns that exist for the vast majority.

Although an excellent example - I feel that it doesn't capture every aspect of the rich cash flow archetype - but that's pretty well documented in Kiyosaki's and Anderson's work.

In any case, it's a good start. If only there were a multiple income stream one where they had some of the money flowing into an "Asset" container, which then streamed back into income...


sometimes I wonder if it's a good thing, or a bad thing that I own a tablet PC... Anyway, you get the rudimentary idea. Eventually the goal would be to create multiple passive streams and get rid of the IN stream coming from the regular 9-5 workday to free up more time to dream up even more passive streams. In the end, it truly is just a game.


Thanks to the whole iPoint project, I'm happy to say that this is my current diagram - (with a few more asset/passive lines - but I'm not creative enough to figure out how to draw that many more). Now that I've done even further research and started looking into the real estate side of the market, I'm looking forward to adding even more streams. I can't wait until I'm allowed to launch the whole Infiniti Point Investment Club.

Cheers,
Earl

Jobs cause the most stress

Here's a damn good reason for me creating iPoint:

Stress = BAD

Job = Stress

Therefore

Job = BAD

Take a look at THIS article from the Vancouver Sun. Although I should really write up the whole story from the beginning, Infiniti Point to me was a method to help my friends and family members (at least the ones that were ready) learn and join me in the quest for passive income and financial freedom. Even though I feel that I've already met and surpassed my original personal goals, it's no fun sitting on the beach by myself...

I'll have to add that my stress levels - even at a job that I enjoyed at one point were still up there. Being stuck - not having the choice to WANT to work and not HAVE to work is still a stressing point unto itself.

Having said that, please join me in my quest for chasing perfection and true freedom. Check out http://www.ipoint.ca/ and join the forums, help us to find opportunities, and join the ones that we're already participating in and escape the 9-5 prison that gives Canadians so much stress as of late. My next personal goal will be to help 15 people reach either 1M in net worth, or 500k/year in passive income by 2010. Afterwards, the goal will be to help 100 people reach the same goals by 2012 and lastly 1000 people by 2014.

So you lost your wallet (or purse)...

Now what? Your keys, credit cards, points cards, coupons, stamp cards, chewing gum, recent receipts and perhaps a few photographs are now pretty much gone... To boot, you've now got to deal with the headache of finding those darn phone numbers to let each of your financial institutions know about your predicament.

For those of you that know me, you understand the fact that I've got the memory of a goldfish at times, and delight in the 11th "discovery" of a castle in my fishbowl as I try to re-arrange my filing and room those 3 times a year when I feel super inspired.

One of the steps that I do in between my rousing games of "find my keys and wallet or I don't get to leave the house" is that I scan/photocopy everything in my wallet. Naturally this should happen AFTER emptying it out a little to compete a little bit less with George Costanza Oh, and don't forget to do BOTH sides of the cards.

Jerry: Your back hurts because of your wallet. It's huge.
George Costanza: This isn't just my wallet. It's an organizer, a memory and an old friend.
Jerry: Well, your friend is morbidly obese.
George Costanza: Well, at least I don't carry a purse.
Jerry: It's not a purse, it's European.

No, I'm not going to post a picture of the inside of my wallet here (I'm not that much of a goldfish) but it's a great start to finding all of those much needed phone numbers on the backs of all of your credit and debit cards. (did I mention to scan/copy the backs too?) Plus that usually hides the location of those accursed security numbers that they keep asking for to prevent people from stealing your credit card and using it without finding their secret backside hiding place.

Now I might also mention that it's a good idea to write "Please ask for Photo ID" on the back of your cards as well, so that the person who "found" your money carrying device can't accidentally purchase something by mistake :).

On that note, you might as well order something in for delivery at this point because it'll be fun calling all of your auto-billing memberships, bills, subscriptions, etc to stop payments on things, and then again once you get your new credit card numbers. Better hope you're carrying some cash!

Lastly - if your wallet didn't have anything in it to begin with, perhaps it might be prudent to call up some of those folks over at iPoint to find out what they're up to these days.

Who's your Dollar?

Loonie could swoon next year, EDC says

Apparently the Canadian Dollar might not be so mighty in the long run in 2008 according to this article from The Globe and Mail .


I'm a mixed bag of feelings at this point because I've got investments on both sides of the fence. But being a proud Canadian, I'll be happy to revel in the sunshine that is a strong Loonie for the time being.






What with the tax rates dropping shortly as well, it's good news for everyone in Canada Land. So here's to the mighty maple leaf in the short term. Why not take a vacation and enjoy the role reversal on the American side for a bit?

Worst Credit Card Ever!

Ok, there's bad, there's bad, and then there's the Worst Credit Card in the history of mankind.

Let me get this straight... they charge you:

$99 Set up Fee
$49 Annual Fee
$89 Program Participation Fee
$120 Account Maintenance Fee
_____

$357

357??? for a card that starts at $300. Oh, and it also charges 20% interest. Wow... just wow... No wonder the Rich get Richer and the Poor get Angry. What "grinds my gears" is that they also charge $25 to up the credit limit $100 at a time at their discretion without requiring customer permission! I think you'd be much better off with a cash secured credit card than this monstrosity...

Some words of wisdom that I learned from Frank Abagnale a world renowned expert on Identity Theft were thoughts on credit.

1. Never use Debit Cards. They contain the information used to get into your bank account, and if stolen alongside your PIN - any losses that you take due to theft are placed in your own liability.
2. Use Credit Cards and simply pay them off before interest is charged. With the insurance of credit card companies - just calling into them alerting them of the stolen card allows you to stop the withdrawals and purchases, alongside limited liability to the client for the stolen monies.
3. When your children go to post secondary, instead of giving them cash - create supplementary cards in their names with credit limits. This allows you to monitor their spending habits, while at the same time building their credit history.

I hope that people get educated enough to realize that they could potentially be ripped off if they don't add up the fees that are stacking up... I'm also very much looking forward to Patrick Evangelista's future research notes on a GOOD Canadian credit card - and a breakdown of the points systems (airmiles, aeroplan, 1% cashback, etc)

Until next time.

Cheers,

Earl

Leadership Mastery - Day 1

So I've decided to attend the Leadership Mastery program run by the power within. One it was just an excuse to get away for the weekend and hang out in "one of the most relaxing places on the face of planet Earth".

The first night was spent in a pure networking mode where basically all of the delegates were put together into a room to mingle. Just the meeting of the minds alone last night was worth the entire trip.

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The MC

James Cunningham was the MC - and has a definitely intoxicating stage personality. His stage presence alone grabbed everyone's attention and brought us back into the fold. Although he used many of the jokes from his GM appearance, it's his delivery that truly makes them stand out.

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The Speakers

Malcolm Gladwell

Malcolm spoke mainly about ideas within his book
Blink: The Power of Thinking Without Thinking

Wisdom without understanding
A disconnect between how and why.
and what stood out the most to me: the fragility of the wisdom in Blink.

What was interesting was his discussions on a triangle taste test instead of the traditional Pepsi vs. Coke test.

Give a person two unmarked glasses, one containing Pepsi and the other containing Coke, they'll have an 80% change of being able to tell which is which. (Personally I keep choosing Coke on purpose to infuriate those Pepsi guys). But if you introduce a third glass, containing either Coke or Pepsi, they odds that they'll be able to identify the odd drink is reduced to 33%, or pure chance.

How the intuitions of experts reach the level that they are is the very definition of the term "expert". The gut reactions that leaders have that end up becoming wise decisions in the long run come from the countless hours of experience under their belts. Malcolm then goes on to mention that younger folks just haven't on average had enough life experience to be able to make these types of decisions yet - but I'd have to disagree if you truly live, breathe, and immerse yourself in the topic that is your mastery. That being said, someone 100% in tune with their area of expertise - a 20 year old, although immature at life in general could be more versed in a subject more-so than someone 20 years in an industry. How else would you explain the child prodigies that are able to captivate and inspire the rest of the world to strive and reach farther every time?

Which in turn brings me to the next speaker:

Roland Fryer

Roland contrary to Malcolm's postulate on age, managed to receive tenure at Harvard under 30 years of age. What makes Roland stand out in my mind is his work on another one of my favourite books: Freakonomics

The discussion that carried well on into the lunch hour was Roland's methods on incentivising children on how to do better in school as a whole. His talks went from explaining how to ensure that kids came to school on time by spending on $300 per classroom by investing in an Xbox. The story continues to develop as he explains that kids were lining up at 6:45 am to get in early so they could play, and subsequently weren't late for class. Another method was to pay a child $2 per book read - followed by passing a comprehensive test.

Although he's been downtrodden by others in the educational community for his methods, I've got to say that I'm a personal believer because as a child my parents did not give me an allowance. Instead they rewarded me for getting good grades - and not just ANY grade, but only getting paid for "A's". As this was my major source of income for the summer time, naturally I tended to bring home as many A's as possible, unfortunately not doing so well in the subjects of French and Calculus. Funny enough I earned the award for top marks in the business class and look where I am today... Now my parents work with me, and I'm the one giving the incentive of money for performance.

After a well put together lunch with some tasty BC Salmon our minds were put to the test with Dr. Laura D'Andrea Tyson and her talk on economics.

She went on to tell the tale of the falling US Dollar against the world currencies (which by the way is a good thing and bad thing for my Forex investors at iPoint ) and discussed the balance of world trade overpowering world production among further interesting facts. Even more engaging were the questions asked at the end with a very entertaining remark on Clinton vs. Clinton.

My only feedback is that for the day - her talk came right after lunch, and although the content was amazing, the delivery method was not as story filled, or lively as the other speakers, and as such a few people were caught nodding off. Perhaps switching positions with Darcy Rezac .

On the art of the N.E.T.W.O.R.K. Darcy sits near the perfect definition of what Malcolm Gladwell defines as a connector. Part of the equation of what it takes to cause a Tipping Point - although I'm having a hard time picturing Darcy on horseback with the message that the "British are coming". His book The Frog and Prince, or the newly updated Work the Pond! are labelled as the connector's handbook.

Darcy went to give us great examples on the small world phenomenon, as well as tidbits of the science behind networking and the 6 degrees of separation. He even goes as far as showing the formula behind your networking capability as a balance between your current network, your ability to network, and your leadership skills. With an unforgettable exit on the stage with a sing-a-long that had more than the number of expected people joining in, I'll be sure to never leave my business cards at home - ever. Actually Darcy, if you ever end up reading this, you're the reason why I wanted to attend more Board of Trade events.

The day closed with last, but definitely not least Arianna Huffington who with her biting wit, and delicious but tasteful sarcasm told us her story along with all of her political commentary on how the world cannot be simply divided into two categories whether they are left and right, up and down, or wrong and right. My favourite joke from her speech was her comment on MSNBC being downgraded into a series of news reports of blonds reporting on other missing blonds. I'd look forward to hearing her speak again at a future event. Another part that stood out for me was her topic on "Joy Triggers" - identifying and using the simple things in life that make it all worthwhile. Be it a song with personal meaning to you, or just getting a smile from your special someone.

On that note - I'm exhausted just reminiscing about day 1's completion. Now it's time to forward this blog along to many interesting people I met at the conference and see how well I can put my new knowledge of blinking, bribing, economizing, networking and happiness to the test.

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Stock Market Definitions

An acquaintance of mine had forwarded me an interesting collection of Stock Market Definitions that I thought would be fitting to share with you all :).

Stock Market Definitions

For all of you who are having trouble with the stock market these days, here is a little something to help you put things in perspective.

Bull Market -- A random market movement causing an investor to mistake himself for a financial genius.

Bear Market -- A 6 to 18-month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.

Momentum Investing -- The fine art of buying high and selling low.

Value Investing -- The art of buying low and selling lower.

P/E Ratio -- The percentage of investors wetting their pants as the market keeps crashing.

Broker -- What my broker has made me.

Buy, buy -- A flight attendant making market recommendations as you step off the plane.

Standard & Poor -- Your life in a nutshell.

Stock Analyst -- Idiot who just downgraded your stock.

Stock Split -- When your ex-wife and her lawyer split your assets equally between themselves.

Financial Planner -- A guy who actually remembers his wallet when he runs to the 7-Eleven for toilet paper and cigarettes.

Market Correction -- The day after you buy stocks.

Cash Flow -- The movement your money makes as it disappears down the toilet.

Yahoo -- What you yell after selling it to some poor sucker for $240 per share.

Windows 2000 -- What you jump out of when you're the sucker that bought Yahoo at $240 per share.

Institutional Investor -- Past year investor who's now locked up in a nuthouse.

Profit -- Religious guy who talks to God

All jokes aside though today I had an interesting meeting where I met two folks whose primary business is to basically take companies to an IPO and trading on the senior market. So far the initial plans are to setup a non-profit investment club as an entity that can find and bring people and opportunities together for our mutual benefit. Although the container/corporation itself is created as a non-profit, the opportunities that it shares with folks are definitely for profit. It'd be more of a risk capital type investment for people with money to burn that are sick of the normal ebb and flow of mutual funds. We'll see how things pan out - and if something does, be sure to look on the Infiniti Point website

Protest vs. Tax Evasion

Jury says Windsor tax protest not tax evasion Jack Klundert of Windsor, Ont., has won a court case in which he was charged with refusing to pay about $350,000 in taxes.Copyright 2007 CBC All Rights Reserved
____________________________________________________________________ http://www.cbc.ca/canada/story/2006/06/27/taxes27062006.html

So let me get this straight...
"Klundert, who says he doesn't believe the federal government has the constitutional right to collect income tax, was found not guilty of tax evasion. "

Some dude, just says I don't wanna pay these CRA guys taxes - so I'm just gonna protest and not pay tax...

"Klundert argued that disclosing his earnings to the government would be like "sitting down with thieves" and telling them where his valuables were. "

And that's that? - Geez. And I thought that we had to go through all of these compliated methods to save taxes when all you really have to do is just say "no" in protest. Hell then I protest too! :)

For those of us who can't pull off the protest though, give the folks from www.ipoint.ca a call and you'll be able to find out what tax savings methods they've got handy.

Penny for your thoughts?

I ran into an interesting article today regarding the
Canadian Penny.

Seems as though the poor thing has outlived its welcome. I've got to admit that I'm guilty of holding a jar of them hostage in my own home, mainly because it would cost me more time and money to get them sorted, than to actually count them and drag it to the bank. Besides, I use a money clip - no room for coins sadly. Makes for a pain in the ass when parking at a meter mind you. I can't wait until the lot of them have the ability to take credit cards so I can write the darn things off. Perhaps it's one of the major reasons that I bought a motorcycle.

In any case even though the site's not ready yet, I figure posting on a regular blog is in order these days so here I am. This time, I'll be sure to not leave such a long gaping hole in between postings. Eventually I'll plop a link to this article on the http://www.ipoint.ca/ website, but for now this'll do. My vote? Lose the damn penny. I don't use them anyway.

Cheers,
Earl