barefoot investment blog

I was talking to one of my friend other day who recommended me to join barefoot investor blog. Possible membership fee around 397 per year.
Is there anyone who used them ?
Please share your thoughts and experience ?

Thanks

 

I read it each week ... I think you would be better off reading the information on here to be honest. It depends on your age and experience I suppose. I am old and been investing for a long time. I often feel like writing to Scott and putting him right sometimes

 

He is a regular in the Melbourne papers especially on the weekend,I would say spent $99 and become a premium member here and save yourself $300.

If you want to focus on property investing as your wealth creation method(which I would assume you do by spending time here)than you have many many experts you can learn from that have done what you are aspiring to do.....all in the one place!!

 

If your primary focus is property investing then you won't find better info than this forum and the Somersoft archives IMO.

Much cheaper than the option you mentioned too.

Cheers

Jamie

 

I tend to feel that Scott is anti property investment, I haven't read any of his stuff for a while but it tends to focus of the basics- pay off your cc, keep funds for a rainy day, don't overextend yourself, shop around for phone/insurance deals etc. Sound advice but I don't think it will help much taking you to the next level of investing.
He loves LICs like ARGO and AFIC which are a good way to initially gain exposure and diversity to the share market but talks down direct property other than buying an affordable ppor.

 

I always had the feeling he was into managed share investment portfolio type things along with some basic budgeting advice that many people have still not learnt for themselves. He reminded me of a younger Noel Whittaker in that regard.
The problem is when any people offering financial advice write these columns (immediately giving them an aura of creditability) the punters come knocking with money burning a hole in their pocket.
Steer 'em to a managed fund- get your adviser referral commission and if it all goes bad it's not the adviser's fault. Gotta be the best scam.

 

Hi,

If you are focusing on property then go to the source property chat... I think that barefoot investor suits couples or people who require some sort of direction, need some honest truth and good for people who want to keep it simple.

As mentioned above he can be a bit anti property but he focuses more on managed funds etc.

 

Fairy, I am member for barefoot for last 1 year. so far i am free happy with that. If you are beginner investing in shares,managed fund , ETF barefoot will give you guidance. Each month he picks a share for recommendation to buy as per his blueprint .

 

If you want portfolio advice I would recommend a broking firm like Morgans for individual company advice, they have far greater resources and research available

 

If someone is going to rely on sell side analysts for advice and ideas for a long term portfolio id suggest they are better off in a LIC or ETF.

Anyway, Scotty Pape ; his message is generally a good one for beginners, just a bit too much BS for my tastes. To an earlier point though, he isn't promoting managed funds or managed investment schemes so to insinuate he gets a kick back is a bit much.

 

Hi Falcon
Can you expand further on sell side analysts, the Morgan's portfolio recommendations have consistently outperformed the market. Depends on the benchmark I suppose, some of the big LICs have done well and are great for diverisfication but are also priced accordingly IMO. I have held AFIC for about 7 years.

 

Hi Hugh, Sell side analysts job is to create business for the brokerage, short term buy - sell - buy - sell. Their model portfolios may seem to outperform, in fact some do, but you wont see any allowance for portfolio churn in their performance charts ; the erosive effects of brokerage fees, and importantly tax. I am a Deutsche Bank Private Wealth client, and they have very impressive resources, hell I get a damn near deluge daily. However, if I acted on their recommendations the only one getting rich would be Deutsche Bank, and sometimes the ATO

 

I'm a Barefoot member and I can second that. Not a big property focus (aside from plenty of talk about paying down your PPOR) and any talk around property tends not to be very bullish.

 

I would recommend as a resource for people starting out on their money management journey. Lots of excellent tips and things that other newsletters don't cover. I like it for buy and hold stockmarket ideas since I decided to stop spending so much time 'actively' managing my share portfolio and focus on property.

In general tho: a) WAY too conservative for my taste (they guy recommends cutting up your credit card, which is great advice for some people, but terrible advice for anyone who isn't an idiot and has an iota of self control).
b) NOT a resource for property, stick to PC/SS for that!

 

You have to remember he is pitching it to his audience. For example (exact quote)...

I am writing this because my wife told me last night that she has run up a large credit card debt (the figure she will not say). We are both in our mid-forties, earning $80k and $65k. We have a mortgage of $465k and personal loans of around $25k.​

Help, I’m Desperate - Barefoot Investor

I feel that the advice he gives is sensible for the people asking the advice and their level of financial literacy. I find it conservative for my situation but it seems to be tailored to the people writing in.