Does the government need to rethink its attitude towards financial education seminars, considering the large number of success stories?

Does the government need to rethink its attitude towards financial education seminars, considering the large number of success stories?

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financial education

Over the last 17 years, the financial education industry has grown largely from market leaders such as 21st Century Education and its array of speakers.

These seminars have featured many former students of its programs and also speakers invited to Australia for its large Financial Education Summits- such as Sir Richard Branson, Arnold Schwarzenegger and Tim Ferris and amongst others.

The recently reported RTO college rorts have cost the government over $ 1 billion with completion rates as low as 2.4%, and not to mention, unmotivated and poorly skilled students. Considering the above factors, the financial education industry has cost the government no funding and produced highly motivated attendees who have invested out of their own pocket- not for a certification, but for a real life valuable education.

Sadly, the mainstream media often focuses on the small percentage of complaints and ignores the huge array of success stories.

The ABC ran articles stating that dozens have lost money from 21st Century Education and Jamie McIntyre’s courses.

However, it failed to highlight that of the 550,000 that have attended his seminars, watched his courses or read his books online, only less than 0.5% have made complaints.

Many have become self-made millionaires over the last 17 years, thousands have learnt to invest safely in property and shares, many have boosted their incomes from up skilling and many more have started businesses.

One example of a success story, which Fairfax owned AFR ran on its front page was of Mark McDonald. Appster founders Mark McDonald and Josiah Humphrey started their successful business at 18 and 19 respectively by renting an office in Melbourne’s Rialto towers. The two entrepreneurs, now 23 and 24 respectively, are BRW Young Rich list’s youngest debutants with a combined wealth of $58 million AUD.

Four years ago McDonald attended a financial education seminar conducted by Jamie McIntyre and also sent in a testimony stating how the seminar inspired him to acquire office space in Rialto Towers since McIntyre emphasised the importance of work environment. His income had doubled in a short period of time after doing the seminar, namely due to a mindset shift around allowing more wealth into his life and taking massive action and not accepting that he was too young to be successful. It’s been four years and now he is worth $58 million at 23, employs over 250 staff and is building a billion dollar company.

Fairfax, have run a concerted smear campaign against McIntyre since he launched his own political party in 2013 and launched a national newspaper that has exposed the dodgy practices by Fairfax . The publishing company it seems had no idea that it was featuring one of the many success stories emerging from McIntyre’s programs.

McIntyre said, “it’s common sense that if more young Australians had access to the right type of education and mentors with a PhD in results who don’t accept excuses, instead of our 19th century outdated school education taught by those with a PhD in theory and often with a socialist victim mentality, we could become the start up nation of the world.

“With the right education, we as a nation will become more productive, efficient and happier. Emotional and financial intelligence should be mandatory in the school curriculum and so should entrepreneurship.

“We could become a start up nation if we could only get more intelligent politicians into positions of power”.

After a Senate Hearing recently, McIntyre said he was appalled at the lack of financial intelligence of the two Senators, their deep-rooted ignorance, and arrogance and prejudice.

He said, what hope do the young have if this is the example our Senators set?

McIntyre said he is very hopeful of the country’s future with our new Prime Minister Malcolm Turnbull.

“Finally, we have a self made man with intelligence and statesman like qualities who understands we need to cultivate and produce more entrepreneurs to become an innovative and successful nation that doesn’t just rely on the luck of having a lot of natural resources to create our wealth.

“We need more entrepreneurs in politics. However, unfortunately it’s worth noting how the left wing media attack people like myself for entering politics. It seems they don’t want entrepreneurs and future politicians to expose the dodgy union agendas that are corrupting one side of politics in this country and stifling our economic growth whilst ripping off the workers.

“I like what Richard Branson said, ‘it’s rarely governments that change the world, it’s usually entrepreneurs”.

Even Einstein said- Great spirits have always found violent opposition from mediocre minds. The latter cannot understand it when a man does not thoughtlessly submit to hereditary prejudices but honestly and courageously uses his intelligence.”

McIntyre goes on to explain:

“Neither courage nor intellectual self-advocacy (or social justice for that matter) are taught in mainstream education. This, I think is largely due to the increasing colonisation of Western culture by neo-liberal ideology. It takes a courageous individual to force people out of believing in what they’ve been ‘trained’ to understand.

“Maybe it’s time our politicians got their act together, got educated, and stopped preventing innovation thus allowing our youth to access a modern 21st Century education”.

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 Author: Esther Prattner

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