Do You Need a Financial Advisor? #019
How to Money
iHeartPodcasts
4.6 • 3.2K Ratings
🗓️ 16 May 2018
⏱️ 46 minutes
🧾️ Download transcript
Summary
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 advisors 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, have a listen)! The biggest reasons why you don't need a financial advisor is because financial advisors can be really expensive, and plus, they don't always point you in the right direction! Listen to the entire episode to find out why don't recommend financial advisors.
So there you go- you DON'T need a financial advisor. Instead, 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 he 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).
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 Apple Podcasts, Stitcher, or wherever you get your podcasts!
For specific links and additional information about this episode, head over to our site: HowToMoney.com . Best friends out!
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Transcript
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| 0:00.0 | Hey, it's Joel and Matt and if you're like us you're probably staying up way too late |
| 0:04.8 | asking questions like how can I hate my taxes less or did my recent medical bill really have to cost that much |
| 0:11.1 | Well look you can go to bed at a normal time because Freakinomics radio one of our favorite podcasts is here to help |
| 0:17.1 | Yeah, Freakinomics radio has more than 500 episodes worth of answers to your biggest money questions with the help of fascinating guests including |
| 0:25.3 | CEOs |
| 0:26.3 | artists and Nobel laureates make sure to check out their new series about the economics the politics and the ethics of |
| 0:33.7 | returning the world's art to its makers listen wherever you get your podcasts |
| 0:40.4 | Check out the your financial maven podcast where we need to change the way we think about money our understanding of it and the effects |
| 0:47.5 | I'm Samantha Mittman-Bessnov CPA and I have spent over 25 years in the accounting field |
| 0:52.9 | The your financial maven podcast will touch on things like saving and budgeting and really anything around money to help you feel |
| 1:00.1 | financially empowered listen to the your financial maven podcast on the iHeart Radio app Apple podcasts or wherever you get your podcasts |
| 1:09.4 | These days more often than not the success of a company is attributed to its founder |
| 1:13.4 | But that's only part of the story my name is Noah Callahan Bever |
| 1:16.3 | And I'm proud to present idea generations all angles a will packer media podcast |
| 1:20.8 | We'll be talking to all the key players from all your favorite brains like loud records |
| 1:24.4 | Getter gastro and earn your leisure so join me each week as we dissect the most dynamic companies in culture because the only way to truly |
| 1:30.8 | Understand success is to look at it from all angles listen to idea generations all angles on the iHeart Radio app Apple podcast or wherever you get your podcasts |
| 1:39.6 | Welcome to how to money. I'm Joel and I'm Matt and today we're answering the question do you need a financial advisor? |
| 1:50.6 | All right, Matt that's right coming up on the show. We're gonna answer that question |
| 2:03.2 | There's certainly a lot of nuance to it |
| 2:04.9 | But we're going to refer back to our episode nine retirement and besting is simpler than you think |
| 2:09.8 | We're gonna talk about how expensive a financial advisor can be and the different types that there are out there |
... |
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