Most people don’t really understand how wealth works. See this short video and be enlightened!
Click on this link to watch the complete video: https://youtu.be/2lSf2LjQhxQ – “ How Wealth Works In Real Estate with John Dwyer & Jay Conner”
Let’s talk about money, investments, and wealth together with Jay Conner and his special guest John Dwyer.
John Dwyer is an eight-time recipient of Ohio National’s Inner Circle (top 1% of U.S. financial representatives).
A five-time qualifier, and a four-time recipient of the Executive Counsel of Honor, and was elected by his peers to serve as a current member of the Ohio National Field Advisory Board.
John also qualified for the 2017 GAMA Silver International Management Award.
Currently serves on the Field Advisory Board of Ohio National.
Was elected “40 Under 40” Prairie Business Magazine in 2015, and is a Master Mentor of both Circle of Wealth and The Breakaway League.
As the President and CEO of Solid Rock Financial Group, John leads the organization with incredible passion and vision.
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Jay Conner has been investing in Real Estate for over 15 years. He typically makes 2 deals a month. He has bought and sold over 400 homes.
He had an 800 credit score and the bank closed his LOC. He needed to find a new source of funding. In the past eight years, Jay has never missed a deal because of funding.
He has developed a strong network of Private Money suppliers.
Chaffee-Thanh Nguyen started investing in Real Estate a decade ago. He dramatically changes and impacts the lives of thousands of people around the world as an Executive Success and Event coach with the likes of Powerteam International and Marshall Sylver’s Mind Power Inc. Chaffee also teaches at his own events.
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DISCLAIMER: Jay Conner is not a financial advisor, real estate broker, licensed mortgage broker, certified financial planner, licensed attorney nor a certified public accountant, therefore consult with a professional prior to making any real estate investing.
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Jay Conner:
So, you mentioned that most people really don't understand really how wealth works. So, how about take a few minutes and explain what are the big myths? What are the big misconceptions that people typically, or some people have in their mind about how wealth works and then after identifying those misconceptions, tell us how wealth really works.
John Dwyer:
So, yeah, so there's things that we talk to our clients about. And I think one of the biggest things is, you know, when I look at someone's overall position, it's something that I call a wealth transfer, right? And these are money that we're losing unknowingly and necessarily the government and the institutions on a daily or yearly or over a lifetime basis. And we've identified over 37 transfers of wealth that people incur throughout their lifetime. Now it doesn't mean everybody's going to have 37, they might have one or two, right? But it can equate to hundreds, if not thousands, if not millions of dollars to people over their lifetime, if they look at certain things of how they're positioning their assets or what they're doing. So, you know, one, of the big things that we talk about is there's a huge difference between average rate of return and actual rate of return.
John Dwyer:
And if you understand what we're taught in the financial industry, you know, everybody looks at their return on investment. So they typically look at money, from a rate of return perspective, and it's not so much the rate of return that matters. It's what you can spend, right? And so we help our clients understand that there's a huge difference between average rate of return and actual rate of return. And helping them evaluate that from an overall wealth perspective. So I'll give you an example. Okay. So in the traditional model Jay, let's just say that you and I were having a conversation. I said, Jay, you know what? I can guarantee you an average rate of return on investment over a two year time period of 20% now, would you typically invest your money in some, in a deal like that?
Jay Conner:
That sounds great on the surface.
John Dwyer:
Sounds great on the surface, right? So let's take a look and we're led to believe that, we're going to have more money because I guarantee you an average rate of return. Now, if we look at this from how this works, so let's just say the investment's going to be a hundred dollars Jay, right? And you give me a hundred dollars in the first year, I knock it out of the park, we get a hundred percent rate of return and we have another tech bubble, or, you know, another new stock that creates a huge rate of return. So that hundred dollars at a hundred percent rate of return for the first year is $200. The second year we start out with $200, we have an oops in the market, or we have a correction and we lose 60%. So that's a 60% loss on the $200, which means that's $120 loss and we're left with 80.
John Dwyer:
But if I look at the two year average rate of return, if I subtract, if I take the hundred percent subtract out the 60 that's 40% divided by two. What's your average rate of return, Jay?
Jay Conner:
I think I lost money. Your average, your average rate return is 20%, but your actual money, your, what you have your actual return. Yeah. You lost money. You ended up with $80. So there's a huge difference between average rate of return and actual rate of return. And math is the average and money is actual. And so when we look and help people understand how wealth works, those are the conversations that we're taught because in our industry, people always talk about what's your average rate of return. I don't care what your average rate of return is. I care what your actual rate of return is because the two are completely different.
Jay Conner:
That's really, that should be an aha moment for most people.
John Dwyer:
It's a huge aha moment there. Because we're led to believe right, 20%. That's how everybody talks. If you average 8%, 10%, you're going to have all this. No, you're not. You have to, in the actual returns will always be less than the average, always
Jay Conner:
Right? So once I understand, and I do. Once myself and the audience understands that difference.
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