Millionaire Teacher Speaks To More Than 100 People At Qatar’s British Business Forum

I’m used to simple, relaxed environments. Most of my friends don’t own suits.  I don’t either. 

But I stepped into the posh business world on Sunday, February 17th when I was invited to speak at Qatar’s British Business Forum.
They served a fancy 3-course meal before my talk began.  “Please sit at the Head Table, Mr. Hallam, so people can see you while they eat.”  I wasn’t used to that. 

What if I spilled by fancy crepe-veggie thing-a-ma-jig on my shirt? 

What if I choked on the gourmet chicken for everyone to see? 

That wasn’t my cup of tea.  But once I took the stage, I felt a lot more comfortable.

It’s tough to read British suits. 

They look angry when they’re sober. 

Perhaps I needed to get a few pints down them first. 

A few offshore pension sellers sat in audience.  But none of them peeped a word.  Perhaps they sat, embarrassed.

Fortunately, plenty of vigorous handshakes followed my investment talk.

You might wonder why the British become such easy victims for offshore pension sellers.  My theory has levels.

First of all, there are plenty of Brits in the Middle East.  They earn a lot of money.  They don’t have to pay taxes.  They need to invest their money.  They might as well be wearing sterling signs on their backs.

But there’s something else I’ve learned that makes the British easy victims. They don’t talk about money.

Do they feel embarrassed once they realize they’ve been scammed? Yes.  But they rarely share their stories.  They prefer to keep it private.  That’s the British way. But all that does is perpetuate a problem.

Tomorrow, a new British family will settle in the Middle East.  That family will make plenty of friends.  But those friends won’t share their stories about getting fleeced by a finance firm.

We need to put cultural barriers aside and talk about money. 

British expats, especially, need to start talking. 

If they don’t, the next wave of British expats will fall for the same old scams. 

Unfortunately, that’s what’s happening, year after year.  They need to talk about money, so they can actually help each other.

Andrew Hallam

I’m a financial columnist for Canada’s national paper, The Globe and Mail, as well as for AssetBuilder, a financial service firm based in Texas. I’m also the author of Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School (2nd Ed. Wiley 2017) and The Global Expatriate’s Guide To Investing: From Millionaire Teacher to Millionaire Expat (Wiley 2015). My mission is to educate, motivate and inspire people on basic retirement planning and best practices for investing, using evidence-based strategies. I’m happy to comment on your questions. However, please read the Terms of Use, Privacy Policy and the Comments Policy.

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