Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge,

skills, insight and encouragement you need, to live a rich and meaningful life now, while building a

plan for financial freedom in 10 years or less.

Today on the show I have one simple concept to share with you and it is this.

Be careful to look out for what's not said anytime you are engaging in financial discussions.

Be careful for the missing alternative that you're not knowledgeable enough to ask about.

I give you an example.

Yesterday on the Q&A show I had a listener who was asking me whether it was appropriate for a woman in her

60s with a fairly simple financial life who is living primarily on Social

Security income at a pension income but also has a

million dollars of assets available and she is investing that money in an account

where she's paying a financial advisor a 1.7% fee for advice on the account.

And the question that my listener asked was, is that a good thing or should they move somewhere else where she would be able to pay a lower fee?

That's a hard question to answer because it involves the actual person, the woman,

the investor involved and what's important to her.

But in my discussion of the question with my listener, we started talking about portfolio returns,

and my listener shared with me that one of the frustrations is that her portfolio

was invested very conservatively and it's primarily in bonds and fixed income investments and

because of that when you take in the substantial 1.7%

asset management fee he felt that she was really underperforming and I agreed

with him and we discussed the situation I discovered that this woman could live and I And in that conversation, we discussed the fact that my recommendation would be, since she's going to leave this money behind for her errors and beneficiaries as some form of inheritance that she should set a financial goal of

maximizing her money so that it could be the biggest pot possible when it's left behind to the people that she

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