Friday Flight - Forgetting Football, Home Improvement ROI, & Ignominious Investing #831

MLM Tactics

Joel Larsgaard and Matt Altmix expose the manipulative tactics used by MLM investment schemes. These schemes often prey on individuals by making them feel part of an exclusive group, only to exploit them financially. Joel points out that many people end up ruining friendships by recruiting others into these schemes, which is particularly egregious.

It's awful enough to lose money, but I'm sure there were some friendships ruined over the course of this I am academy thing, too.

--- Joel Larsgaard

Matt adds that these schemes often target people from poor backgrounds, promising spectacular returns that rarely materialize 1 2.

   

Free Resources

The hosts critique high-cost investment courses, emphasizing that valuable financial education can often be accessed for free. Joel and Matt argue that many of these courses offer information that is readily available in reputable books and podcasts. They stress the importance of DIY investing and using free resources like libraries and apps.

Go to the library. There's so many good books there that you don't have to pay a dime.

--- Joel Larsgaard

They also discuss the benefits of Roth IRAs and other retirement savings strategies that don't require expensive courses 3 4.