Millennials and other young people be forewarned: Wall Street is a scam, and the best way to avoid financial collapses, such as the Recession of 2008 or the sorts of rip-off schemes devised by the fraudulent-minded likes of Bernie Madoff, are to invest in real estate — particularly income properties — in the years ahead. So says Jason Hartman, founder of the Platinum Property Investor Network, who became a self-made millionaire in his 20s after investing in real estate and creating his own investment company.
How can you, as a young person, become successful and be financially secure for the many years of life that lie ahead, just as Jason Hartman did? You can start by following his “5 Ways Young Investors Can Jumpstart Their Journey to Financial Independence,” of course.
Here’s the primer from Jason and the Platinum Properties Investors Network on the five ways you can jumpstart your way to such a pleasurable financial journey:
1) Join and Follow the Jason Hartman Foundation That He and Platinum Properties Investor Network Have Created
After Jason Hartman and the Platinum Properties Investor Network were financially secure through their real estate investment practices, they created the Jason Hartman Foundation, which was established in 2005 to assist young people learn how to build wealth and live “The American Dream.”
Hartman, who attended public schools in Southern California, believes that the important aspects of a well-rounded education are lacking in today’s secondary education and that real life demands additional education. This includes teaching young adults to set and achieve their life goals and become successful in their careers. Once students get steady jobs and income, though often seemingly at low wages in today’s world, they need to learn the ways and means of achieving financial security and providing for a comfortable retirement — through investments in real estate.
Through donations to a wide variety of organizations, programs, and causes, the Jason Hartman Foundation helps youngsters from every walk of life learn to appreciate the American economic miracle that is real-estate investing and to take advantage of the many opportunities that are a byproduct of this freedom to excel.
More than 30 groups have benefited from Jason Hartman Foundation grants, including Chris Evert Charities, the David Lynch Foundation, City of Hope, Child Guidance Center Inc., Habitat for Humanity, Junior Achievement of Southern California and the Young Men’s Christian Association of Orange County.
Jason Hartman’s guidance is something young investors can grab right away by visiting the “Young Wealth” podcasts that he produces at jasonhartman.org.
Through those “Young Wealth” podcasts and other foundation resources, you as a young person can learn how to make, spend and invest money for an awesome life ahead. You’ll get real-life stuff you didn’t learn in your school curriculum. “Young Wealth” podcasts give you innovative new ways to deal with your finances , plus the skills and tools you’ll need to survive and be successful once you’re “out there” and on your own. As the introduction to the podcasts like to boast: “Let the ‘Young Wealth’ show be your GPS to take you from ‘clueless’ to ‘clued in.’”
2) Learn From Jason That Wall Street Is a Scam You Should Avoid
In one recent Jason Hartman podcast episode with highly successful investor and financial writer James Altucher, the latter expert categorized only three types of people who make money on Wall Street: The “buy and hold forever crowd,” as exemplified by business titans like Bill Gates and Warren Buffett; high frequency traders with superfast computers who seemingly hold positions for but a fraction of a second; and those, like Bernie Madoff, who commit fraud and other crimes such as insider trading.
Make no mistake, Jason Hartman says, the stock market is a bad deal for the average investor. He also deplores “the gold-bug crowd” who profess investments in gold and other commodities as a way to pad their Wall Street portfolios. “When you’re buying a single-family home or an apartment complex, you’re buying all of these commodities,” he says. “They’re traded globally: the copper wire, the glass, the steel, the labor that goes into it, the energy that goes into it.”
Hartman realized during his college years what he calls the “near miraculous profit potential of income property investing,” when such assets are compared to the rigged game of Wall Street equities. If the ideas of creating wealth and reaching the land of financial independence are of any interest to a young person, the only real choice left, Hartman professes, is real estate.
3) Learn From Jason Hartman and the Platinum Properties Investors Network That Investment Properties Are The Way to Go
It is never a good idea to gamble your money with risky investments like stocks, because there are other, more permanent forms of investments that can supplement your income considerably. Once you as a young person get that first steady job, it’s then time to get an extra temporary job. With the money that you make from the temporary extra job, invest in something that isn’t going away — real estate. Why? Because everyone needs a place to live, and real estate is generally a low risk form of investment. But don’t buy for yourself — consider your investment an income property and find a way to make your money work for you.
Your tenants will pay mortgage on the property you buy, and you’ll collect some extra money on top of that. Your investment will make more of the money you’re already earning, no matter your wage. While the economy often fluctuates, making Wall Street bounce up and down like a roller coaster, people will always need a steady, safe and comfortable place to live.
You’ll also reap tax benefits, including the IRS allowing you a yearly deduction of 1/27th of your property’s value as a depreciation expense. “Taxes are the largest single expense any of us have,” Jason Hartman likes to note, yet “income property is the most tax-favored asset in America.”
4) Learn How Jason Hartman Achieved His Success and Developed the Platinum Properties Investor Network
Starting with very little, Jason Hartman, while still in college at the age of 19, embarked on a career in real estate and while brokering properties for clients, he was investing in his own portfolio along the way. Through creativity, persistence and hard work, he soon joined the ranks of the top 1 percent of Realtors in the United States, and in quick succession, he earned a number of prestigious industry awards and became a young multi-millionaire.
He purchased an Irvine, California real estate brokerage firm, which he expanded dramatically and was later acquired by Coldwell Banker. He then combined his dedication and business talents to become a successful entrepreneur, public speaker, author and media personality. Over the years, he developed his Complete Solution for Real Estate Investors™, through which his innovative firm, the Platinum Properties Investors Network, educates and assists investors in acquiring prudent investments, nationwide, for their portfolios.
Jason’s highly sought after educational events, speaking engagements and popular “Creating Wealth Podcast” inspire and empower hundreds of thousands of people in 164 countries worldwide.
While financial planners promote such investments as mutual funds or bonds, in addition to stocks, as a way to diversify portfolios, Jason Hartman and Platinum Properties Investors Network believe real-estate investments that are diversified — albeit geographically — are a better investment strategy to follow.
Noting that his home state of California slid into a major real-estate-market downfall from 1990 to 1997, because of defense contractor layoffs and the like, Texas, meanwhile, was home at the same time to the top three real estate markets in the country — a situation that most likely would have left one’s portfolio balanced because of owning property in both of those states.
“Diversify, because real estate is local,” Hartman says. “When you diversify geographically into different markets, and there are 400 distinct markets in the United States, you protect yourself from downside risks.”
5) Get Help Not Only From Jason Hartman’s and Platinum Properties Investment Network, But Their Friends and Colleagues As Well
Guests on the “Young Wealth” podcasts offered at jasonhartmanfoundation.org often are younger entrepreneurs who also found early success in their careers, just like Jason Hartman did.
In one recent podcast, Marcy Morrison, founder of Careers With Wings, a group that helps young people find careers that match their passions, shared some tips with podcast host Hartman. She also offered insights from her book, “Finding Your Passion: The Easy Guide to Your Dream Career.”
Other guests on the 100-plus “Young Wealth” podcast episodes that Jason Hartman and the Platinum Properties Investment Network have produced include: “Growing a $50 Million Millennial Business with Gerard Adams,” youthful co-founder of elitedaily.com, and, “Ecommerce Profits, Mobile Apps, Selling on Amazon.com From Amazing.com’s Matt Clark,” who, after finishing college in Houston at age 22, starting building million-dollar businesses and tells podcast viewers how to build a business on Amazon.
Jason Hartman’s and Platinum Properties Investor Network don’t stop sharing resources with the blog, though.
The Jason Hartman Foundation website also includes a blog, where young people who want to avoid Wall Street and seek a path down the highway of real estate investment success can read articles geared toward them. At the blog, readers will find such interesting subjects as “The Millennial Struggle: House and Home,” “The Big Money of Big Sports” and “The Lesson of Pacific Property Assets: Avoiding Schemes.” (The latter subject tying in with Jason Hartman’s chief theme for young people, of course: Avoid Wall Street, because that’s what he and Platinum Properties Investment Network have done while they have skipped down the golden-brick pathway of income property investing.)