I’m 17 and financial anxiety has been beating me. But since finding your channel you seem honest and very informative thank you very much and keep uploading and sharing knowledge please.
I have had an awkward experience with a financial advisor as well. I asked about taxes and crypto, and the “professional” explanation was super weird. At that moment I realized it’s not worth the cost.
How can we get educated? What are the classes and books we need to become competent? How many hours per day or how many hours of study in total is needed for someone to not absolutely maximize but to just be able to handle their investments better than paying that 1.5% per year fee to a financial planner/advisor?
This video needs more views. Financial advisors often face perverse incentives and don't have an alignment of interests with their clients (who are usually at a knowledge/information disadvantage). Live below your means and invest in low/no-fee stock or real estate investments for a long period of time, and you'll build meaningful wealth. I've seen lots of financial advisors who put their clients in high-fee investments and a "die with zero" plan.
Great video! Numbers don't lie. Index investing is essentially free and dividend reinvest is the process of doing well. When you pay an investment advisor 1% of your nest egg each year to put you in index funds you lose that compounding over time which is a massive loss and 100% unnecessary.
You're talking purely brokerage accounts. Trading in an IRA or Roth are not taxable events. Also, beating the market is not always the objective or value add. Tax planning, estate planning, and income planning are all a part of it. People will trash annuities, but are unaware annuities can give and guarantee a higher level of income than the standard 4% withdrawal rate. Bank notes, Cds, and some annuities have 0% fees. This includes leveraged notes that perform at multiples of the market. Many people just make it about fees and returns, but honestly, they don't see the bigger picture. Sometimes its protection, sometimes returns, sequence of returns, legacy planning, health cost planning etc. I can't tell you how many seniors were in bonds in 2020 and their "safe" portfolios got hit by 15%. A professional would have seen inflation coming and understood the need to get out of bonds. Point is, advisors aren't for everyone, but many people who think they are capable of handling their own assets are ok until they're not, but by then the damage has been done.
Thank you. I have been amazed by what I have run into in this industry, they seem to use fear as their motivation, and look to siphon off 2 percent of your account every year.
Just found you and enjoyed your video. I would have liked it if you addressed how to break up with an advisor. I am sure many people watched this and want to now move an account so that they have greater control, so a how to would be very helpful. How to transfer a Roth that may be with an advisor. How to get out of mutual funds, etc. maybe you covered it in another video - not just the why, but the how. Again, thanks for the great info.
this is great! I'm a new attending physician and i've met with numerous financial advisors over the past 3 months. I get the sense that no one has my best interest in mind and each advisor contradicts the previous. I'm looking at youtube channel for advice and I'm thinking of taking your online course - I wish there is an outline of topics discussed. Do you think your course deviates from the tradition "max out all your retirement accounts" and "save 50% of your income" ?
Do you recommend purchasing annuities on your on?! I just called Nationwide to inquire about purchasing annuity on my own by passing the Financial rep for LPL! I would get almost $3000 more a year in comparison simply buying direct! And is an annuity that guarantees life time payout a good investment anyway?
He also does 4% return if you're a very conservative investor. Anyway, I love how blunt you are and it's refreshing to hear someone talk about stuff like this!
@@sharonwinsmith OK, can you name a few of those superior real estate investments that's better than REITS? I just don't see crypto being a better investment than REITS🤷🏾♂️
Is Your Stock Portfolio Really Beating the Market? ➡ ruclips.net/video/yFOL71x1kAM/видео.html
I’m 17 and financial anxiety has been beating me. But since finding your channel you seem honest and very informative thank you very much and keep uploading and sharing knowledge please.
Thank you so much! I can't tell you how much this made my morning 😀
I have had an awkward experience with a financial advisor as well. I asked about taxes and crypto, and the “professional” explanation was super weird. At that moment I realized it’s not worth the cost.
I have not seen a better more informative RUclipsr. Thanks for making these priceless vids
Thank you so much! :)
Great video! So much helpful info that nobody else is talking about!
Glad it was helpful! Thanks for watching!
How can we get educated? What are the classes and books we need to become competent? How many hours per day or how many hours of study in total is needed for someone to not absolutely maximize but to just be able to handle their investments better than paying that 1.5% per year fee to a financial planner/advisor?
This video needs more views. Financial advisors often face perverse incentives and don't have an alignment of interests with their clients (who are usually at a knowledge/information disadvantage). Live below your means and invest in low/no-fee stock or real estate investments for a long period of time, and you'll build meaningful wealth. I've seen lots of financial advisors who put their clients in high-fee investments and a "die with zero" plan.
Great video! Numbers don't lie. Index investing is essentially free and dividend reinvest is the process of doing well. When you pay an investment advisor 1% of your nest egg each year to put you in index funds you lose that compounding over time which is a massive loss and 100% unnecessary.
100% agree!
Sharon thank you for your honesty and knowledge. I will be taking your course for sure
Thank you so much! 😀
You're talking purely brokerage accounts. Trading in an IRA or Roth are not taxable events. Also, beating the market is not always the objective or value add. Tax planning, estate planning, and income planning are all a part of it. People will trash annuities, but are unaware annuities can give and guarantee a higher level of income than the standard 4% withdrawal rate. Bank notes, Cds, and some annuities have 0% fees. This includes leveraged notes that perform at multiples of the market. Many people just make it about fees and returns, but honestly, they don't see the bigger picture. Sometimes its protection, sometimes returns, sequence of returns, legacy planning, health cost planning etc. I can't tell you how many seniors were in bonds in 2020 and their "safe" portfolios got hit by 15%. A professional would have seen inflation coming and understood the need to get out of bonds. Point is, advisors aren't for everyone, but many people who think they are capable of handling their own assets are ok until they're not, but by then the damage has been done.
Thank you. I have been amazed by what I have run into in this industry, they seem to use fear as their motivation, and look to siphon off 2 percent of your account every year.
Just found you and enjoyed your video. I would have liked it if you addressed how to break up with an advisor. I am sure many people watched this and want to now move an account so that they have greater control, so a how to would be very helpful. How to transfer a Roth that may be with an advisor. How to get out of mutual funds, etc. maybe you covered it in another video - not just the why, but the how. Again, thanks for the great info.
thank you!
this is great! I'm a new attending physician and i've met with numerous financial advisors over the past 3 months. I get the sense that no one has my best interest in mind and each advisor contradicts the previous. I'm looking at youtube channel for advice and I'm thinking of taking your online course - I wish there is an outline of topics discussed. Do you think your course deviates from the tradition "max out all your retirement accounts" and "save 50% of your income" ?
You are absolutely 💯 correct👏🏾👏🏾
Glad to know others agree! I feel like these issues aren't talked about enough
Do you recommend purchasing annuities on your on?! I just called Nationwide to inquire about purchasing annuity on my own by passing the Financial rep for LPL! I would get almost $3000 more a year in comparison simply buying direct! And is an annuity that guarantees life time payout a good investment anyway?
Concur with your remarks. I have had similar experience. Have you considered bitcoin? Best performing asset over last ten years
I do own a little Bitcoin and am a crypto bull in the long term. 🐂
Thanks for the advice.
Glad it was helpful! Thanks for watching!
You would hate The Financial EKG guy on RUclips because he does all his scenarios with 6% rate of return.
That is WAY too conservative in my opinion.
Using models that don't take into account actual returns are useless. If someone is in fact only getting 6% returns - Yikes!
He also does 4% return if you're a very conservative investor.
Anyway, I love how blunt you are and it's refreshing to hear someone talk about stuff like this!
Wow!!, you choose crypto over REITS? I absolutely love REITS, i guess its different stokes for different folks🤷🏾♂️
I would never invest in REITs. There are far superior ways to invest in real estate.
@@sharonwinsmith OK, can you name a few of those superior real estate investments that's better than REITS? I just don't see crypto being a better investment than REITS🤷🏾♂️
@idj6858 why is that? You can earn 2x, 3x, all the way up to 100x and beyond with crypto. Real estate could never do that.