Jim Fink, founder of the most popular personal finance blog on the web, is at it again, unveiling a new financial lifestyle product called Personal Capital. Personal Capital is a financial management platform that helps you track your net worth, assets, and debt, and shows you how you’re doing financially.
Jim Fink is an author, speaker and personal finance expert who offers several personal finance courses online. In this review, we will be looking at his Personal Finance Course, specifically, which course is worth signing up for. The Personal Finance Course is an interactive, self-paced course that takes you from the basics of personal finance to advanced concepts. A seasoned financial professional will help you address your specific financial goals and provide you with tools to improve your financial situation.
Jim Fink’s Personal Finance, founded in 2006, is a self-proclaimed “online investing community”. Since being founded in 2006, Jim Fink’s Personal Finance has grown to be the world’s largest personal finance community. Jim Fink’s Personal Finance is a community dedicated to helping people learn how to invest and achieve financial and personal security. The goal of this community is to help people save money, invest money, and achieve financial and personal security.
I just got an email regarding Jim Fink’s Personal Finance newsletter and decided to check it out to see whether it’s worth subscribing.
Jim discussed one of the major investing techniques he employs to help his customers earn money during his presentation for Personal Finance. As a member, he claims to be able to teach you how to earn up to $67,548 every year doing this.
Other investing methods for increasing your money and generating income are also discussed by Jim. In all, the member’s area has five model portfolios, each with its own set of recommendations.
In general, it’s a very complete service.
However, like with every recommendation, there are disadvantages to consider. So, to assist you determine whether it’s suitable for you, let’s take a deeper look at what it’s about and how it works.
Jim Fink’s Personal Finance: An Overview
Personal Finance is the main investment newsletter of Investing Daily, a well-known investment education firm, and it is led by investing legend Jim Fink.
The service’s primary emphasis, according to the Investing Daily website, is on “safe, highly lucrative assets that the mainstream herd hasn’t caught on to yet.”
As a Personal Finance member, you will get a new newsletter issue every month that includes a comprehensive analysis of key market trends and upcoming opportunities.
You’ll also get fresh investment suggestions from Jim Fink and the Investing Daily team, as well as updates to current recommendations in the model portfolios.
Overall, the member’s section has five model portfolios, each catering to a particular kind of investor with various investment objectives and risk tolerances.
As of this writing, these are the five investment portfolios:
- Retirees’ Maximum Income
Some portfolios are particularly designed to assist subscribers in earning money (like the Income and Maximum Income for Retirees portfolios). Others, on the other hand (such as the Growth portfolio), provide possibilities to help you increase the value of your portfolio.
As a result, members get a wide range of suggestions.
However, many of Jim’s suggestions are geared at producing investment income and are better suited to cautious investors.
So, although the service may benefit almost any investor and his suggestions aren’t restricted to any strategy or industry, they’re more income-oriented and risk-averse.
Another distinguishing feature of this newsletter compared to others I’ve examined is Jim’s recommendation of different option trading techniques. This may seem paradoxical at first, since options are often regarded as one of the riskiest methods available.
However, as I’ll explain later, Jim teaches members a unique method to trading options that may help you earn consistent investment income while being less hazardous.
But first, let’s take a look at Jim Fink and his background, since he is the driving force behind the Personal Finance subscription.
What is Jim Fink’s background?
Jim Fink is a Senior Analyst for the Personal Finance newsletter and contributes to Investing Daily’s Options for Income and Velocity Trader advice services.
Jim has a bachelor’s degree from Yale, a master’s from Harvard, a law degree from Columbia University, and an MBA from the University of Virginia, according to his biography on the Investing Daily website. He was also a telecommunications lawyer before joining Investing Daily.
How did he get into investing in the first place?
Jim was “burning the midnight oil” for clients like Goldman Sachs and Citigroup as a lawyer in the 1980s, according to the Investing Daily website, and began spending his lunch hour at the “Chicago options market” to learn how to trade for himself.
And in ten years, after learning the ropes, he converted $50K into $5.3 million.
So I made friends with several of the exchange’s merchants and began to learn the ropes.
After a crash course in options trading, hundreds of books, and numerous queries to seasoned market makers, I started trading options myself.
I began with $50,000 (much more than I need) and worked to improve this approach over the following ten years.
My $50,000 had risen to $5.3 million by 2001.
Jim Fink is a well-known businessman. (image courtesy of www2.investingdaily.com/plp-pf-seconds-ex-ctrlro)
After leaving law, Jim worked for a university endowment, a private wealth management business, and a financial planning firm, according to his Investing Daily biography, and he’s been trading the market for the last 25 years.
During my investigation, I discovered that Jim Fink contributed to Motley Fool using the name “XMFHamp” between 2005 and 2008. And, according to his Motley Fool profile page, he suggested 122 stock selections from 2006 to 2008, all of which performed well.
Jim is, in fact, one of Motley Fool’s top-rated experts.
Not only can you see how accurate his stock selections were throughout that period (hint: excellent), but you can also see which sectors he fared best in and how he ranked in comparison to other Motley Fool experts.
Personally, I hold Motley Fool in high regard, so the fact that Jim was an active contributor with such a strong track record says loudly.
Jim’s work with Investing Daily, another well-known and renowned financial education business, is perhaps his most well-known and regarded work these days.
Jim’s suggestions as part of the Personal Finance service seem to have outperformed the market, as I’ll explain soon.
What Is The Process Of Using The Personal Finance Service?
The basic premise of the Personal Finance service is that you join up, read the monthly issues, and use what you learn to become a successful investor.
It costs $39.95 for a year or $79 for two years to join.
You’ll also receive 12 monthly issues of Personal Finance, access to five model portfolios, frequent updates on the portfolios’ recommendations, and access to member forums as a member.
Each issue includes a thorough examination of some of the most important market trends and developing investment stories, as well as fresh investment ideas, at the time of publication.
And each suggestion includes all of the pertinent information, such as why it was chosen, what to purchase, at what price, and so on. So you may pick whether or not you want to use your own brokerage account to benefit from Jim’s suggestions.
Depending on whatever part of the Investing Daily website you join via, you’ll also receive access to certain extra reports and advice.
For example, I learned about Personal Finance from the website below, which was all about earning money by selling options…
Additionally, if you join via this website, you will get the following training and tools to assist you in making money selling options:
- Option Strategy Guide (written training)
- Training Program for Quick Start Options (video training)
- How to Get a Good Deal on Stocks (companion report)
- (Jim’s most recent trade suggestion) Your First “Easy-Start” Options Trade
What exactly is option selling?
In my evaluation of a program called The Everyday Income System, I discuss selling options. However, instead of purchasing options, you may sell them to earn cash up front.
Even though these transactions may go against you, the risk is usually smaller than purchasing options, particularly if you speculate on businesses you like.
The rationale for this is that if you sell a put option and the underlying stock price rises, you retain the premium you got for selling the option contract.
If the underlying stock price falls, on the other hand, the “worst-case” scenario is that you will have to purchase shares in that firm at a lower price than when you sold the options contract.
Which is a wonderful thing if you were planning to purchase shares in that business anyway, since you now have the opportunity to own shares in a terrific company at a reduced price. You may also sell them at any time.
However, there are dangers to be aware of.
One of the most significant dangers associated with this approach is if the company’s stock price plummeted. Because, even if you purchased the shares at a cheaper price than you would have if you had bought them at the moment you sold the options contract, you would still lose money.
So there are dangers to consider, and it’s more complex than just purchasing and keeping stocks, so if you want to be successful, you need to know what you’re doing.
Jim Fink enters the picture at this point.
You receive access to Jim’s personal finance insights and suggestions to help you succeed with options trading and the other techniques he provides with customers as a member of his Personal Finance service. This isn’t a guarantee that you’ll earn money following his advice, but the service seems to have done well over the last two decades.
What Has Been Your Experience With The Newsletter?
I’m not sure how well the Personal Finance newsletter has done since it first started in 1974, long before Jim joined it.
Also, as I previously stated, inside the member’s area, there are several portfolios accessible, each with its own track record.
And I was not able to find the individual track record of each Personal Finance portfolio, but the website does state that, over the past 15 years, the service has 3X’ed the S&P 500:
Overall, over the last decade and a half, the Personal Finance portfolios have racked up a total return nearly three times better than the S&P 500. By investing in our recommendations, you’d have been able to turn $100,000 into $281,000!
As of this writing, and assuming the preceding material is correct and up-to-date, the Personal Finance newsletter has given subscribers with suggestions that have resulted in average returns of 181 percent from 2006 through 2021.
The website also provides an indication of how well it fared from 2000 to 2010:
For example, from 2000-2010, the S&P 500 went backwards. Most Wall Street “experts” and fund managers did very poorly.
Personal Finance members, on the other hand, had the chance to earn almost 70% during the same ten years, which included the biggest market collapse since 1929. They accomplished it while taking on 17% less risk, or volatility, than the market.
In addition to these general statistics, Jim discusses the effectiveness of his option selling approach. Jim claims that he has earned an average of $185.06 per day, or $67,548 per year, using his options technique, which he teaches subscribers.
He also seems to have an 84.68 percent victory rate.
However, as I previously said, 293 of the 346 total trade suggestions given over the course of 50 months were successful, resulting in a “win rate” of 84.68 percent.
Of course, none of this ensures that you’ll earn money just by joining Personal Finance, and Jim is clear about the dangers involved. But, based on what I’ve seen, Jim seems to be a true expert with a proven track record of accomplishment.
Is Personal Finance a Reputable Business?
Personal Finance is, in fact, a genuine investment advice firm.
This service has been in operation since 1974, which is much longer than nearly any other service I’ve evaluated on this site. The only other warnings I’ve seen that have been around for a comparable amount of time are those from Eagle Products.
Of course, just because something has been around for almost 50 years doesn’t mean it’s genuine, but it does, in my view, say a lot. You’d be fortunate to survive five years, much alone five decades, if you were ripping people off.
In any event, Jim Fink, who has been with the business for a few decades, is a true investing and trading specialist with a proven track record.
He also contributed to the Motley Fool, which is one of the most ethical and recognized financial education businesses in the world, as previously stated.
You also receive access to the entire archive of monthly issues going back 18 years as a member to Personal Finance, so you can see for yourself what Jim has suggested as part of this service throughout that period.
Finally, there is a 90-day money-back guarantee with the service. You may get your money back if you join and realize it’s not for you during the first 90 days.
With these considerations in mind, and based on what I’ve observed, I’ve come to the conclusion that this is a genuine service.
Is It Worthwhile in the End?
If you want to learn about a more cautious, income-focused investing approach, the Personal Finance newsletter may be useful.
If you want to understand how to make money selling options, it’s also worth a look. Even though selling options may be hazardous, it is a technique employed by some of the most well-known value investors, such as Warren Buffet.
Overall, for less than $40 a year, you get a lot of bang for your buck.
You receive all you need to learn from Jim and follow his suggestions, from monthly insights and recommendations to training and member forums.
However, it is unlikely to appeal to those seeking to earn money by investing in the next Netflix or Tesla. If you want to get the most out of Jim’s options trading suggestions, you’ll have to pay $3K per year for his higher-priced service, Options for Income.
As with every service, there are disadvantages. Even though it seems to have a good track record, there are dangers involved, so you can’t count on making money.
At the end of the day, whether or not it’s worthwhile is all up to you, your circumstances, and your preferences. Hopefully, everything I’ve provided has helped you determine whether it’s right for you, but ultimately, only you can decide whether or not to join.
When Jim Fink started the Financial Freedom Revolution 10 years ago, he had no idea how big it would get. Now, the Financial Freedom Revolution reaches millions of people around the world every month, and has over 22 million members. If you’re looking to get the inside scoop on financial independence, start here.. Read more about what are leaps options and let us know what you think.
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