Investing advice is the number one reason why people hire financial advisors, and we’re here to tell you that you’re wasting your money!!! Certainly, a financial advisor could help you with other things like financial goal setting and managing cash flow, but ultimately it still comes down to you doing the hard work yourself (plus, we’ve already covered those topics on previous episodes, take a listen)! The biggest reasons why you don’t need a financial advisor is because investing is simpler than you think, financial advisors can be expensive, and they don’t always point you in the right direction!
You need to be investing in well-diversified, low-cost index funds like our favorites VTSAX and VOO. That’s what Warren Buffett recommends and was willing to prove it by making a 10-year bet against hedge fund managers (as if being the 3rd richest man in the world wasn’t enough proof).
Still, it’s important to note that hiring a financial advisor can make sense for certain folks.
If you need an advisor, we’ve partnered with the folks at Wealthramp to help you find one that meets our high standards. Wealthramp works with a network of independent, fee-only fiduciary advisors you can trust. You can even schedule a complimentary meeting. If you’re in need of a professional who can help you keep your financial goals on track, start here.
And at the beginning of this episode we each popped open a bottle of Allagash’s Curieux, which you can find and learn all about on Untappd. A huge thanks to Allagash Brewing Company for donating this amazing beer and supporting the podcast! If you enjoyed this episode, be sure to subscribe and review us in iTunes, Stitcher, or wherever you get your podcasts!
Cheers!
Great podcast! I really enjoy listening to you guys, keep it up! Have you considered investing in 10 to 20 individual stocks that have a history of increasing dividends and stock price appreciation instead of investing solely in index funds?