The majority of financial advice providers aren't always looking out for you.
Quotes from this episode:
“There are so many untruths spread by folks on the radio; the market timers, the guys who believe you can pick the right stocks at the right time; the day traders, the ones who claim they have a magical system to get you in and out of stocks, minute by minute, where you can just become ridiculously wealthy.” — [0:08:23]
“Ninety-nine per cent of the investment advisors in America are not always required to do what’s right for you 100% of the time. That is a sad commentary on this country.” — [0:29:02]
“Only a fool would believe the future is predictable.” — [0:30:19]
Key Points From This Episode:
Why you have to avoid annualizing the market over small periods of time.
The ridiculous money shows that encourage you to invest dangerously.
Valuable advice for college grads; from compound interest and taxes to getting a Roth IRA.
Keeping in mind that it’s impossible to make a lot of money without taking risk.
What to look out for when choosing a firm and advisor to invest with.
Interviewing advisors, the form they need to fill out and what you can expect to pay.
Episode Links:
Vestory — https://vestory.com/
Merriman — https://www.merriman.com/
Dave Ramsey — https://www.daveramsey.com/
Paul Merriman — https://paulmerriman.com/
James Stack — https://www.moneyshow.com/expert/596spk/james-stack/
Saving Private Ryan — https://www.imdb.com/title/tt0120815/
The Cold Blue — https://www.hbo.com/documentaries/the-cold-blue
Ron Lieber — https://ronlieber.com/
FinCon — https://finconexpo.com/
Dimensional Fund Advisors — https://us.dimensional.com/