Yes! This title is a little bit "clickbaity" but it is in fact true! Scott Pape sent out an email in June outlining his intention to close the Barefoot Investor Blueprint Email.
This paid email subscription saw readers get a monthly dose of all Scott's gems on super, term deposits, shares etc.
The reason he has closed this down is that he is starting a not-for-profit financial counselling service - in my mind, this is an awesome move!
What is the Barefoot Investor Blueprint?
As reported by Yahoo Finance, Scott Pape "will be closing down Barefoot Blueprint, his subscription-based investment newsletter that includes Pape’s personal tips on economics, shares, property, superannuation, managed funds, fixed interest, and cash, and can include a number of bonus research features and special reports."
In my opinion, this Barefoot Investor Blueprint newsletter was riding the border between general and personal advice. Reading through the Reddit forums, it is clear that a large number of readers acted directly on the tips provided. These same people are now left wondering what to do now this is coming to an end.
Why is Scott closing this down?
Reading beyond the headline, Scott is closing this down so he can start a non-for-profit financial counselling service. Before I go any further, Scott (I don't know why I think you will read this), I just want to say congrats! I think this is an awesome move to build on your platform and personally help more people who need this advice!
I believe that this move aligns much more with the sentiments of the book and this is going to be a way that you (as a reader of the Barefoot Investor book), can get more personalised advice in addition to the general principles that Scott outlines in the book.
What does this mean for you?
If you are a Barefoot reader, nothing!
Already a Barefoot Investor Blueprint subscriber? It will then depend on which of Scott's tips you have followed.
Have you followed these tips and purchased shares? There is no need to panic. There have been some indications in the chat forums that Scott will be releasing the historic Barefoot Investor Blueprint for you to purchase (if you think this is necessary).
There is no need to rush out and make drastic changes to your current investments (like one concerned forum member was doing)
My advice here would be before making any changes, do your research and if you are stuck, find someone to give you a second opinion on what you are looking to do.
Investments are not my area of expertise, but I am happy to put you in contact with someone I trust if you need some help with this.
Why am I telling you this?
Good question! I have shared my opinion on a lot of Scott's work and it is only fair to give credit where it is due.
This financial counselling service is critical and I think that for Scott to use his platform to change the lives of as many people as he can is unreal!
I know this hasn't been a very "insurancy" post but I hope this has helped give you some context around some of the things you may have heard or read about this.