Unbelievable! My $2 Million Stock Portfolio & A Financial Advisor's Bold Move to Take Control of it!

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  • Опубликовано: 27 апр 2024
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    Our Rich Journey - Unbelievable! My $2 Million Stock Portfolio & A Financial Advisor's Bold Move to Take Control of It!: Are you managing your own investments or considering a financial advisor? It’s crucial to be aware of the tactics that financial advisors might use to win you over. Many investors lean towards professional advice without fully understanding what’s at stake. In this video, we uncover the common strategies used by advisors, highlight the importance of financial literacy, and encourage you to compare managing your own investments with hiring a financial advisor. Watch to learn how to spot these tactics and arm yourself with the knowledge needed to make informed decisions about your financial future!
    ▸▸▸Check out some of our other videos!
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Комментарии • 328

  • @OurRichJourney
    @OurRichJourney  Месяц назад +15

    📈Looking to learn how to invest? Enroll in our Stock Market Investing Course: www.ourrichjourney.com/investingforfire
    🔥Learn more about financial independence and retiring early: Enroll in our F.I.R.E. Master Class: www.ourrichjourney.com/firemasterclass

    • @barbaranichols566
      @barbaranichols566 25 дней назад +1

      However, how do you borrow against your assets? Please do an video.

  • @truesurf
    @truesurf Месяц назад +305

    53 year old average guy here in the double comma club. What I've learned when it comes to money....NO ONE IS YOUR FRIEND or has your best interest in mind. Learn as much as you can and manage it yourself.

    • @daystar73
      @daystar73 Месяц назад +5

      Absolutely...👏

    • @steve99912
      @steve99912 Месяц назад +8

      So true nobody cares more about your cash than you.

    • @bpalm7428
      @bpalm7428 Месяц назад +3

      truest words ever.

    • @sheenayaj1700
      @sheenayaj1700 14 дней назад

      💯

    • @LuiggiChampan
      @LuiggiChampan 2 дня назад

      I agree! And no one knows your money better than you!

  • @claudinekent5823
    @claudinekent5823 Месяц назад +100

    Best decision I made was to take control of my own assets!

  • @hulkman4004
    @hulkman4004 Месяц назад +111

    If you got 2mil without one then i say you dont need a financial advisor. You are one

    • @Arun71150
      @Arun71150 20 дней назад

      Right!!! Multiple millions, not just 2. Lol. FA saw chaching!!!

    • @deanrotering879
      @deanrotering879 11 дней назад

      My friends told me the same thing so I decided to keep on my own.

    • @augustdelacreme
      @augustdelacreme 7 дней назад

      Fr fr

  • @thejourneyofraymond5752
    @thejourneyofraymond5752 Месяц назад +42

    Hi, I'm interested in hearing your thoughts on way you all decided not move forward with the securities backed line of credit.

  • @seanbrown2361
    @seanbrown2361 Месяц назад +46

    Make a whole video explaining why you didn't go down the route you were planning

  • @jmr2594
    @jmr2594 Месяц назад +86

    I used a financial advisor in the past to manage ETFS and Mutual Funds in Nj. In 2 years he changed barely anything so when I called him and started asking questions he called me back stating I was calling too much and asking too many questions. I then stopped using him. I also found out that the retirement account he was suppose to manage he had no access. I will never use a financial advisor.

    • @jay_stack1270
      @jay_stack1270 Месяц назад +3

      Wow!! 😂😂 so all these while he was just taking his fees..that’s crazy

    • @MTXSHO9732vV8SHO
      @MTXSHO9732vV8SHO Месяц назад +5

      👍😆👍 Stop calling about YOUR MONEY

    • @glasshalffull2930
      @glasshalffull2930 13 дней назад +3

      Hey,HE’S the expert!!! Just shut up and give him his commissions!!!! (Joking of course)

    • @genxx2724
      @genxx2724 4 дня назад

      I would get the fees reversed on that retirement account.

  • @jeremyhicks2449
    @jeremyhicks2449 Месяц назад +67

    Exactly why I managed my own money.

  • @PaulProsperInvestments
    @PaulProsperInvestments 29 дней назад +12

    Always cracks me up how someone working a 9-5 thinks they can "teach" folks who retired early and living off their investments how to invest. He knows there was nothing he could do for you guys investment wise and simply wanted that commission fee.

    • @melaniesmith1928
      @melaniesmith1928 17 дней назад +2

      Right! 😂 Sir, we did this without an advisor. Don’t do us any favors with your ‘help’.

  • @respectfullytruthful
    @respectfullytruthful Месяц назад +62

    The shower scene 😂😂💀

  • @lataraashley9143
    @lataraashley9143 Месяц назад +23

    Thanks for using your experience to warn us 😮

  • @sidandsof12
    @sidandsof12 Месяц назад +19

    I’d like to know why you didn’t go through with the line of credit. Can you post a video about it?

  • @aracelireyes999
    @aracelireyes999 Месяц назад +20

    J L Collin's book would agree with you, " Manage your own money." Thank you guys for everything. I am at the very beginning of my journey.

    • @OurRichJourney
      @OurRichJourney  Месяц назад +5

      Yes! We are definitely in favor of managing our own money!!!

  • @faqu529
    @faqu529 Месяц назад +7

    The Advisor was doing the Bird Man hand rub while conversing with you all. Glad you all stood on business!👏🏾👊🏾🙌🏾

  • @aracelireyes999
    @aracelireyes999 Месяц назад +49

    37%??!! Wow, you guys are amazing.

  • @westcoastmediasolutions
    @westcoastmediasolutions Месяц назад +4

    Yes please tell us what you guys decided to do to finance your next property purchase.

  • @victorc2786
    @victorc2786 Месяц назад +10

    Thanks for all the great advice you give, Love ❤️ you guys.

  • @betterme479
    @betterme479 Месяц назад +5

    Really appreciate this video! Thanks for taking us along on your journey ❤

  • @irene8013
    @irene8013 Месяц назад +6

    Thank you for sharing, very helpful info!

  • @Lissa1988
    @Lissa1988 Месяц назад +11

    Another great video. This one definitely hit home for me. When we pulled our accounts from our previous advisor, he used several of these tactics. They definitely hate when you are an informed client.

  • @mannyaleixo4402
    @mannyaleixo4402 29 дней назад +3

    Well said thank you for sharing your experience. It’s appreciated

  • @TYJ419
    @TYJ419 Месяц назад +1

    Thanks for sharing your experience. Yes, would love a video and why you changed your mind about the line of credit.
    Tracey

  • @hopedodson8058
    @hopedodson8058 Месяц назад +4

    Yes- would love a video about securities backed lines of credit.

  • @actionvj
    @actionvj Месяц назад +9

    🙏🏾 This video is awesome. While I don’t have that type of money, that makes it even more important to make every penny count. I appreciate y’all sharing your experience. It’s great knowledge for me to have and many others, I’m sure. 👍🏾

  • @VNAV_PTH
    @VNAV_PTH Месяц назад +23

    LOL, used car dealership vibes 😊

  • @blascarmona6613
    @blascarmona6613 Месяц назад +5

    Thank you for sharing!

  • @ML-dj8fq
    @ML-dj8fq Месяц назад +4

    Thanks!! Please talk about securities backed line of credit

  • @feliciaflinders
    @feliciaflinders Месяц назад +4

    ❤❤❤ thanks for sharing 👍. Also the loan against value of portfolio is good insight to mitigate tax. Clever idea and very smart.

  • @shalakataneja8686
    @shalakataneja8686 Месяц назад +2

    So true! I had the same experience recently.

  • @NursesToRiches
    @NursesToRiches Месяц назад +1

    I love this video and always enjoy watching you two together.

  • @angelromero8076
    @angelromero8076 Месяц назад +1

    Thanks for the content, very informative and helpful.

  • @TheSponsorPodcast
    @TheSponsorPodcast 27 дней назад +1

    Joined the journey last month! Thank you for providing clarity and a path to FIRE!

  • @nalonnimadden4730
    @nalonnimadden4730 Месяц назад +2

    So is this course different from the previous one and we would have to buy again?

  • @Chachou18711
    @Chachou18711 17 дней назад +1

    Thank you for your advices. I started my journey 5 years ago. From zero to 300 000 euros on stocks and index funds. Thank you for the motivation.
    A French suscriber !

  • @TiagoRamosVideos
    @TiagoRamosVideos Месяц назад +1

    Great video! Thanks for the heads up 🙏

  • @lewishamse6
    @lewishamse6 Месяц назад +3

    Great video very insightful. I plan to always manage my money. Like they say "Knowledge is power". Thank you for reinforcing my own opinion.

  • @MrTofu13
    @MrTofu13 Месяц назад +3

    I want to keep my money too! Thank you guys for all the knowledge!❤😊

  • @dkgong
    @dkgong Месяц назад +8

    $2 Million?! Wow, that's amazing! I hope you can do a video on what you invested in someday.

    • @PAULIEL.
      @PAULIEL. Месяц назад

      GET THEIR STOCK INVESTING COURSE AND THEY SHOW YOU.

    • @nikkoe2694
      @nikkoe2694 Месяц назад +2

      They have lots of videos about that

  • @MTXSHO9732vV8SHO
    @MTXSHO9732vV8SHO Месяц назад +4

    Yes indeed.. It's the NEXT LEVEL. That IS how it's done (SBLOC).

  • @OtrosCauces
    @OtrosCauces Месяц назад

    Interested in your take on the stocks-backed loan and what did you do instead

  • @sidandsof12
    @sidandsof12 Месяц назад +8

    Haven’t heard “scanless” in years. Took me back. Love ya guys!

    • @autobotdiva9268
      @autobotdiva9268 Месяц назад

      i busted out laughing and Amon said it hard!

  • @marcshaw6811
    @marcshaw6811 Месяц назад +2

    Yes please explain how you pay the securities backed loan .

  • @willmallory9085
    @willmallory9085 Месяц назад +3

    Excellent video Team, thanks for sharing.

  • @JenniferBelong-is7je
    @JenniferBelong-is7je 22 дня назад

    I appreciate you sharing your experience - thank you

  • @videolife101
    @videolife101 Месяц назад

    I’ve been looking into SBLOCs as well. Very useful tool.

  • @paulainocent622
    @paulainocent622 Месяц назад

    Great video!! Thanks for the walk through tactics. Thanks for increasing financial Literacy.

  • @samuelawosolu1485
    @samuelawosolu1485 Месяц назад +3

    This was a great video! Please create more videos like this that expose how some financial advisors at banking institutions may not have your best interest when it comes to managing your money. Also I would like to know more about how a securities backed line of credit works. Sounds like the equivalent of taking a HELOC on a home.

  • @PeaceBeginsOnYourPlate
    @PeaceBeginsOnYourPlate 29 дней назад

    Great video! Thanks for sharing! I'm curious in learning more about why you chose not to go with a securities-backed line of credit. Also, speaking of tax-loss harvesting, what are your thoughts on robo advisors like Wealthfront? Would love to see an updated video on your thoughts now on robo advisors like Wealthfront.

  • @symplybeingme
    @symplybeingme Месяц назад +3

    Another eye opening video. 😊

  • @IRun4Ever2
    @IRun4Ever2 3 дня назад

    Thanks for sharing your experience with the financial advisor.

  • @chicatita4753
    @chicatita4753 Месяц назад

    Yes, can you please talk more about security back line of credit? And if you dont use this then how can you use your $ to buy real state for example without paying high taxes? Thank you!!!

  • @sonja8942
    @sonja8942 Месяц назад +1

    Very interested in why you decided not to go to the securities backed loan for real estate purchase. Also is the purchase of your 3 other properties primarily to rent them out or is it to sell them at a profit after improving them?

  • @femio3617
    @femio3617 Месяц назад +1

    What life insurance is the beat yall recommend or use

  • @MK-ut8ik
    @MK-ut8ik Месяц назад +4

    I would be very interested in the ways you leverage, investigating it myself, the securities line of credit and so forth. Do you elaborate on that? And yes! Great advice regarding financial advisors, I have used them in the past and lost a ton of money at their grezzy hands. most are crooks and are NOT looking out for your best interest

  • @stuartl5911
    @stuartl5911 23 дня назад +2

    Commission based financial advice is NOT financial advice. It is marketing.

  • @elliottpaige
    @elliottpaige Месяц назад

    This was great! Thanks. Looking forward to your video on securities-backed line of credit. ❤

  • @ramez1884
    @ramez1884 Месяц назад +1

    Great video! Would love to hear more about the securities-backed to line of credit

  • @smokeyhat
    @smokeyhat Месяц назад +2

    Thanks for sharing the advice guys. I would certainly walk right into this trap in the future had I not seen this. Keep doing what you're doing to increase the awareness of the uninitiated like myself. ✊✊

  • @leftbank0693
    @leftbank0693 29 дней назад +2

    Same. Once I got those year-end statements back and saw that my S&P index fund was outperforming his active management, we pulled our funds and closed the account with him.

  • @jonnom6528
    @jonnom6528 Месяц назад

    so happy to see you two continue to grow it was years ago i watched one of your videos on index funds and now look where youre at!

  • @rogeliofernandez6266
    @rogeliofernandez6266 20 дней назад

    Thanks for posting content about FIRE! Its hard to find recent videos on it

  • @marjorieantoniou2836
    @marjorieantoniou2836 Месяц назад +1

    Security lined backed credit sounds interesting please share. Thanks!

  • @vgb10dst
    @vgb10dst Месяц назад

    Excellent video!!!! Always deliver!!!

  • @EthanRaynolds
    @EthanRaynolds 4 дня назад +1

    I have added a variety of stocks and ETF to my present holdings for the long term. I also have $300k aside to start following inflation-indexed bonds and stocks of companies with solid cash flow. I strongly believe this is a good time to capitalize on the market for long term gains. But actualizing a short term profit would not be a bad idea for me at all.

  • @rickb5275
    @rickb5275 25 дней назад

    Love your channel. I’d love to understand your thoughts and reasoning why you did not choose to go with the line of credit

  • @brinho109
    @brinho109 Месяц назад

    What alternative to the securities backed line of credit did you all use, if any? Great video.

  • @BrunissimoArt
    @BrunissimoArt Месяц назад +1

    As always thank you both for sharing your experiences with us! Helps us stay on our toes! It would be cool if you guys made a video about securities backed line of credit next! One question I have is if a person has some amount invested with VTI and another chunk with VTSAX, would the broker only consider one of those accounts or would the broker factor the total amount invested between the two investments? Anyway thank you as always Amon and Christina!

  • @kimdav111
    @kimdav111 25 дней назад

    do you have video on securities backed loans? How much do you need to have to do this? What did you do because you did not want to incur large capital gains to make a big purchase?,... I know about harvesting losses.

  • @skvirk2669
    @skvirk2669 21 день назад

    Best video! Thanks guys.

  • @nalynegunggavakin9682
    @nalynegunggavakin9682 26 дней назад

    I totally agree with you and had the same experience from well know financial advising places. I tried let one manage an IRA and they totally underperformed in a bull market. They obvioulsy didn’t rebalance it. Please do a video on Pledged Asset Line of credit.

  • @brian7110
    @brian7110 Месяц назад +6

    Yes please explain the SBLOC! Thank you!

  • @NeilLevalier1
    @NeilLevalier1 22 дня назад

    Great video! This was also my experience exactly.

  • @cosandraodame7623
    @cosandraodame7623 Месяц назад +9

    Great advice

    • @OurRichJourney
      @OurRichJourney  Месяц назад +2

      Thank you!!!

    • @jdone7619
      @jdone7619 29 дней назад

      @@OurRichJourney how long did it take you to save or invest before you retired and how much did you start off with ?

  • @PhilomenaAgbanyim-Oragui
    @PhilomenaAgbanyim-Oragui 29 дней назад

    This video has been a life saver,thank you guys for such wise advice❤

  • @larettaadams1866
    @larettaadams1866 Месяц назад

    Thank you. I learned about this in your program a couple years ago. It was the best.. 365 Days!!!

  • @ImaAHol
    @ImaAHol Месяц назад +1

    Please do a video on the securities backed line of credit!

  • @rosealapatt1315
    @rosealapatt1315 29 дней назад

    I am interested in knowing why you did not go forward with the credit. Thanks for these insights. I always remember what you have said in some of your earlier videos about the percentage charges by fin advisors- it would only make sense if they charge a fixed fee.

  • @user-br2zp3bk6f
    @user-br2zp3bk6f 15 дней назад

    Enjoyed your video. There are very few financial topics that are both original and relatable to where I am on my financial journey and this video is both. I wrote myself a note to start researching "securities backed line of credit" and so I would encourage you to have that topic in a future video.

  • @mikejones3078
    @mikejones3078 Месяц назад +1

    Great info

  • @pall5114
    @pall5114 29 дней назад

    always inspiring, congrats. do you have a video on how you managed 37% last year, and what funds/ETFs you are invested in?. To your point, I have not had much success with financial advisors and could have done better on my own invested in S&P fund. Thank you,

  • @radishfever
    @radishfever Месяц назад +10

    I would listen to a video about securities backed loans. 👍

  • @jamesspitzercashout
    @jamesspitzercashout Месяц назад +10

    Hello my friends Amon and Christina!
    Just wanted to check in and let you know that I am retiring on May 23rd. Just a few weeks away. My wife and I have so many travel plans upcoming, and I have a couple big opportunities that could be huge coming up. Still love how you are so relatable, open and transparent to all your viewers and supporters. I, and I know, that all that follow you feel like we know you like our closest friends. Such an important skill to have these days. A true success story for all to admire.
    I will always watch and check in when I can. One of our stops in our travels is Portugal. Hoping our pathes cross to share that Latte that is on my bucket list❤.
    All the best my friends.
    James and Ellen Spitzer

    • @jay_stack1270
      @jay_stack1270 Месяц назад +1

      Congratulations 🍾🎈🎉 You both Enjoy your retirement 😊

  • @dianesalvatore5018
    @dianesalvatore5018 Месяц назад

    I would like to hear what you think about the securities back LOC.

  • @TrailtoTrailTom
    @TrailtoTrailTom 2 дня назад

    Looking forward to the video about your path/experience getting the Security backed investment.

  • @JJ-jn7ei
    @JJ-jn7ei Месяц назад

    OMG! First, never heard of this type of option-so thanks for that nugget. Second, I've been feeling like such a slacker for not reaching out to a FA. I thought maybe I had waisted so much time not using one. So THANK YOU! I'm doing alright on my own...I'll keep going 😊

  • @varup7483
    @varup7483 Месяц назад

    Thanks a lot you guys! I learnt a lot from you! I appreciate your kind efforts educate people on financial knowledge which we never learnt in school! Kudos!

  • @ginahill6621
    @ginahill6621 17 дней назад

    Thank you 😃😃😃😃😃

  • @letschatfamilyfinances
    @letschatfamilyfinances Месяц назад +3

    This was hilarious! Thank you for sharing!

  • @deniseweideman1974
    @deniseweideman1974 21 день назад

    Thank you two lovebirds for showing us all how it is done.... been following you for a couple of years and so proud of your success... and your wonderful advice... all the best

  • @jeanninecarter1312
    @jeanninecarter1312 25 дней назад

    what made you decide against the security backed loan? were there high fees? or pre-payment penalties? what route did you finally choose? just curious if you don't mind sharing. i really enjoyed this video.

  • @VincentCloutierMtl
    @VincentCloutierMtl Месяц назад

    Thanks again for your videos. That one is so good as everyone has lived or will live this at some point.

  • @justgio23
    @justgio23 Месяц назад

    Guys you are the best! reason why I'd been following you since you started. Thank you so much because I keep learning from you. You are my favorite and my best! With your course I learned how to invest!

  • @tonimartin1344
    @tonimartin1344 27 дней назад

    Thanks this is so true. It happened to me. That is why I haven't used an advisor in 20 years.

  • @teribond7808
    @teribond7808 Месяц назад

    Very helpful information! I have fallen prey to those type of tactic in the past. Would be interested in seeing a video on securities backed loan. Thank you!

  • @goggles-fb7cx
    @goggles-fb7cx 6 дней назад

    Superb analysis of sales tactics. Useful to know for any purchase. A great resource for sales people also!
    Would love to hear your take on financial advisors for after retirement. Spending down, health care and so on. Particularly since some of this may not apply to you.

  • @lvon2844
    @lvon2844 Месяц назад

    Oh yes please do dive into the taking loan against your Investments this has been a big problem we need to discuss it thank you very much good on you too so inspiring and I'm looking forward to you two developing a chat GTP app kind of co-pilot so when I get up in the morning you can help me make healthier financial decisions I'm a nerd when it comes to Automotive and you guys are definitely Financial nerves it isn't easy for me to think your way but I noticed the same problem with I expect everybody to be able to understand what I'm doing with cars I don't need another car at 7:00 right now I should be investing my money but the minute I start to try
    to follow your guidance I go blank where an app could lovingly encourage me and get me to start following your guys's wisdom

  • @sonja8942
    @sonja8942 Месяц назад +1

    Is there a cost for your course in financial “know how investing”?

  • @glyeki
    @glyeki Месяц назад

    So glad we took your financial course years ago guys! You gave us the skills to be able to create and navigate our portfolio without a Financial Advisor and laugh at the few we have had to talk to while experiencing these same tactics. Knowledge is Power!

  • @MGMG-es9ry
    @MGMG-es9ry 27 дней назад

    How do I get security backed credit line? Can I get such credit line on my retirement account? Your feedback is greatly appreciated

  • @SelfcarewithAtem
    @SelfcarewithAtem 8 дней назад

    Very good points 🎉