Day 14 of The 14-day Passive Income Challenge - Always know the intention of others - Chaim Ekstein

[Music] today we're going to discuss the last element of the managed part of the alm model which stands for attract leverage and manage and today we're going to discuss about how most financial decisions are made nowadays let's do it now this might be not very surprising for you but most financial decisions that people make nowadays comes from the advice of product sales people that earn commission and that doesn't mean that that's wrong and that doesn't mean it's right it doesn't mean anything it just is but it's very very important when somebody approaches you with an investment idea when somebody approaches you with a passive income plan idea you should always understand what is the intention of the person offering to you if it's an advisor or a person making a commission you should understand when if i buy option one how much they make and if i buy option two how much they make because this way at least you understand if they make a bigger commission from one versus the other you understand their intention and you can do more due diligence i'm not saying that the option that they make more commission is the wrong option could be the right option i don't know but at least you make a decision at least you make your due diligence that's neat at least you know with what you're dealing same thing somebody wants to sell you something that they own you should understand what is their intention here how are they going to profit from the transaction and again it doesn't mean right or wrong it just means that you understand what's going on and you understand what you're playing with and it's going to help you in making a decision and it's going to help you in choosing how much due diligence you should you should have and not only that very strongly encourage you before you do anything pay somebody a consultant pay somebody to review what you're offered somebody who doesn't have any bias besides helping you accomplish what you want to accomplish he's not a part of the transaction he just wants to help you accomplish what you want to accomplish remember always always always always always always always look after your best interest because if you're not gonna do it nobody else will everybody has their biases everybody has their intentions and nobody cares about your money more than you do i'm super excited that you joined me on this 14 day passive income challenge i hope it helped you and i would love to hear your success stories how it helped you and how it got you to a better place in your passive income planning and in your life in general thank you so much for joining me in today's part of the 14 day passive income challenge i highly encourage you if you want to get any updates from us on our passive income journeys that we teaching can be educating people subscribe to the channel leave a comment below let us know how we can help you let us know what you want to hear from us and i'm looking forward being with you on this exciting journey together