The Worst financial advice ever?
Rob Moore argues that saving money won't work when inflation runs 10-20% and interest rates stay low. Instead, build a cash buffer, invest it in assets like property or gold, and create multiple income streams. Assets generate cash flow that outpaces inflation; cash just loses value.
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This could just be the worst financial advice ever right now. So obviously buying depreciating liabilities is bad financial advice. Some cryptos, most cryptos, probably being honest, it's probably bad financial advice. For sure, putting all of your assets and all of your money into one asset class is probably not good financial advice. But there's a lot of financial advice going on right now that I think in the world that we're in is pretty bad advice, and that is save. Save your way out of this. Cut your costs. You cannot save your way out of 10-20% inflation. You can't. How can you? Because no one has 10-20% disposable income. So you actually cannot save your way to wealth, and this is a big myth. There's a lot of bad financial advice out there in schools and from parents that actually comes from a really good place. I was interviewing someone who won Love Island yesterday, and her mum was giving her some advice. And she did it because she loved her, but it was bad financial advice. So first thing is you've got to think about who are you taking your financial advice from. The next thing you've got to think is they might love you, but do they have good financial knowledge? And the next thing you've got to think about is the world we're in right now, the climate we're in right now. So right now inflation is way higher than interest, so saving is bad. When interest is way higher than inflation, obviously saving is better, but that's not happening anytime soon. So a lot of people, I worry for them because your cost of living is going to go up and up and up and up and up.
Inflation is going to go up and up and up and up and up.
Taxation is going to go up and up and up and up and up. The government debt is going up and up and up and up and up. They're spending nearly twice the furlough budget on this energy cap, um, which I think needed to happen. So you cannot save your way out of this. I've been banging this drum, bang, bang, bang. So better financial advice— well, not technical financial advice, but better ways to think about your money is only use savings as a way to create discipline, i.e., I don't spend money, I get out of debt, I build a pot, and then as soon as you've got a pot that's big enough to invest in anything, you've got to invest it. So you can't save your way out of this, you need to invest your way out of this. You need to earn your way out of this. You can earn your way out of a cost of living crisis. If you think about it, in fact, I'd like to ask you, what do you think your cost of living has gone up in the last 3 years? Because, you know, they say, oh, well, inflation is 9.3%. Well, has your travel and food and energy gone up 9.3%? No, no, it hasn't. What do you think it's gone up by? Because a lot of people who comment on my videos, they say their cost of living's gone up 20%. Or 30%. That's what they think, and I couldn't argue with that. So you can out-earn that though. You can have a side hustle, you can add an extra income stream, you can do some overtime, you can get some commissions, you can earn your way out of anything. I was actually just, um, I had a meeting with some of my, um, fellow entrepreneur friends, and all of us have the ability to sell. That's one thing we've learned. So we know that no matter what goes on in the world and how bad things might get, we can always sell our way out and up. So you can't save your way out of this. I do worry because a lot of people, they think, oh well, I'll buy a few less coffees and I won't have lunch out, and they think they'll tighten their belt a bit and everything will be all right. And they just don't realise they can never catch up with the soaring cost of living crisis and what inflation and quantitative easing and government debt and taxation and everything else is. So I strongly believe this to be true. I believe you need to invest your way out of this. You need to take your money out of depreciating liabilities like cash and put your money into appreciating assets like, for example, at the moment, gold, property/real estate. Start your own business. Your own business is an asset. The good thing about your own business, whether it's online or whether it's a physical type business, is it's an asset as it builds up profit and retained earnings. It's a saleable, scalable asset, but it's also an income stream. There's massive building works going on, it's noisy. So it's also an income stream. So right now you should be starting your side hustle out of this, banging your income streams up. Out of this, investing and protecting your money from inflation out of this, and creating multiple streams of recurring income out of this. These are all the things that you should be doing, in my humble opinion. And, um, that's how I've not just survived but thrived through this. You know, of course you have to make some cutbacks, but it doesn't touch the sides. It would if inflation was 5%. You could probably beat that. You could beat 5% inflation with saving and tightening your belt, because you could probably tighten by 10%, all in, live in a bit of a— well, can't do anything, but at least I'll save 5%, 10%. But not when inflation is so high. It will catch up with you. So if you'd like to learn how to do this, if you'd like to learn how to build assets, recurring income, if you'd like to beat inflation, beat the cost of living crisis, then rob.moore.team can help you do that. Rob.team is a financial education platform. It's fully accessible online. It will teach you to start and scale a business. It will teach you better financial education and knowledge. My personal mission is to help as many people on this planet get better financial education and knowledge. It will teach you how to build multiple streams of income, how to build assets, how to protect cash. If you don't have cash, how to turn resourcefulness into revenue, ideas and information into income, and content into cash flow. So to join, it's really easy. You just open up a new window right now, open up a new page on the internet, and type rob.team, rob.team, into a new window. It costs you less than a large coffee. I think it's 1/3 of the price of Netflix, and you can cancel anytime, no ongoing contract. So to join, just open a new page, type rob.team. Go join right now, um, because you cannot save your way out of the cost of living crisis. And everyone out there is giving you advice where you can save your money, how you can spend £2 a day less on coffee and £3.12 less a day. Oh, don't eat, don't eat and don't heat. As if you can just starve yourself and not have any heating or electricity to try and get through this. What kind of lifestyle is that? Whereas if you're an investor, you're an entrepreneur, you have a side hustle, or you have assets, whether it's a future pension or whether it's ongoing recurring income now, you don't have to sit freezing through the winter eating pot noodles to try and get through this. But it's vital that you must educate yourself. You must learn, earn, and invest. Exactly, George, buy a new kettle and save £10 a year. Boris, come on. So Rob.team is an online financial education platform. It's got hundreds of hours of content going back years, masterclasses, live events, tools and resources. You can join a WhatsApp group with me where we can exchange Q&As and ideas. There's the Start Your Business Masterclass, the Scale Your Business Masterclass, 21 Ways to Monetize Social Media Masterclass, Mindset and Money Masterclass, Get Paid for Podcasting Challenge, Make Cash Challenge, 10x Your Following Challenge, Membership Site Mastery Masterclass. It is all there. So my question to you is this: do you want to just survive or thrive through these challenging times? Do you want to get taxed, inflated, debased, or do you want to actually build multiple streams of recurring income? Do you want depreciating cash and expenses or appreciating assets, multiple assets, multiple streams of income? Because that is my opinion— not financial advice, but opinion advice— on some of the worst advice ever, which is to tighten your belt, save your way out of this. There is no harm in cutting a few costs, of course. Anything that's gratuitous and wasteful, cut. Sure. I just don't think in the world we're in right now people can catch up with inflation and the cost of living crisis by doing that. So I think it's absolutely vital you learn to earn. You create more income streams, commissions, overtime, side hustles. Any spare cash, you've got to get it out of the banks and put it in assets. And then those assets produce income. And then that income from assets is what can get you through this. So do you want to learn all this stuff? Do you want to take action? Do you want a better quality of life? Do you want to be one of those that actually leverages this opportunity because, you know, more millionaires are made in a recession than at any other time according to data and research. So if you want to get better financial education and knowledge accessible on your phone and laptop with thousands of other movers, shakers, and changemakers just like you, go join Rob.team. Type Rob.team into a new window. In Rob.team, there's a 9-module, 10-hour How to Invest series. You want to learn about gold or precious metals or cryptos or starting your own business or real estate or art or classic cars or watches? Rob.team's got a 10-hour masterclass on that for you. That's a busy road. You can get that completely for free when you're a Rob.team member. I know I just said that you can't save your way out of this, but you can make some savings. So my business partner and I are going to do a money-saving marathon. Covering all the areas of your life where maybe you could cut that a bit back a bit. So if you cut back a bit on the unnecessary and then you protect your cash from inflation by investing into assets, you put your time into side hustles and starting businesses and online assets like information into income. 3 ways there you can save more money, make more money, and get more recurring income. So I guess what you could say is Rob.team is there to help you save the unnecessary, make extra income streams, and then invest into assets, produce multiple streams of recurring passive income. That's probably a summary, summary of what Rob.team can do for you. So yeah, just open a new page on the internet, type Rob.team, go join right now. I'll see you there because inflation and cost of living and taxation and government debt is far too high for most of the population to be able to save their way out of this crisis. You've got to be more creative, you've got to be more disruptive, and you've got to have assets that produce income. And that's where you can not just survive but thrive, and Rob.team can help you with that. So I'll see you in Rob.team. Just type Rob.team. TEAM into a new window. See all the masterclasses, see all the bonuses, see all the benefits for less than a large coffee. Cancel anytime, no contract, content going back years, hundreds of hours. Let's do this. Oh, and remember, if you don't risk anything, you risk everything.
