eCourse Overview
As a general rule do not take financial advice from those who are not financially free. Not your friends, family, or that nice guy financial planner (who sells you investments that they make commissions on).
So many hard-working Americans are getting robbed blind by financial institutions. Look at the hidden costs and fees for mutual funds, you are probably paying 3-4% total fees for them despite a so-called 0.01% expense ratio.
If the average return for stocks since inception is 8% per year then you are making only 3% each year after you pay down the fees and factor in inflation.
This is why I like to lock in good debt and pay it off in future dollars.
Your financial adviser making those commissions might be a nice guy but I have met very few of them who understand how to really create wealth for you. It’s sad that many people trust them and they are essentially puppets in the bigger Wall Street system.
If you plan on using a FP, use a fee for service or consultant one only, where you pay them for advice upfront rather than hiring one who makes commission off your investments. The rules are strange and I don’t even think you can work with one with a so-called “fiduciary” as that term is very grey in nature.
As far as your 401K/403B or TSP… go ahead and contribute to get the company match (for now). These programs too have crazy exorbitant fees, it would take you an eternity to ever be able to retire – do the math… the numbers don’t lie… people do.
ETF’s are supposedly low-fee but here is the problem… the returns are horrible when compared with real estate! Because there is a bunch of middlemen.
Be on the lookout for future free educational material and be like the rest of us in and drink the Simple Passive Cashflow Latte!
Watch a Testimonial!
Meet Justin, a dentist from Austin, Texas. Justin originally joined the Remote Investor Incubator group, but since he was starting his own dental practice, it wasn’t the optimal strategy for him. Instead, after talking with Lane, he pivoted his strategy and was able to network with other dentists and focus on tax planning and bigger investments!