This is Laura Roder responding to the How Do You Manage Your Money episode? One big problem that I had with this episode was his implication that he loses money when you lose money, which is really just flat out not true.

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Okay, so we're going to return to the subject matter of one of our

recent shows. Received a awesome response in terms of comments from really smart listeners. We've got

everything from positive, negative, critical to everything in between. It's really cool.

If you were going to start a podcast, Dan, I'd venture to say that it should be around this topic.

Financiality. I mean, people get

so riled up about this. I love it. Yeah. If you haven't yet listened to our interview with financial

advisor, Joe Warbic, the president of Sequinox. And by the way, Joe emailed me a few days ago with the

subject line, wow. He was blown away by the response he received from the community and he participated in the comments as well. So thank you, Joe, for helping us to open up this conversation on this show. So what we wanted to do, Ian, is just do a follow-up show and talk about some of our ideas and the feedback we received from the listeners, because that show, you know, we just interviewed Joe and asked him for his perspective, so I think it's time for us to weigh in a little bit. Yeah, we've gotten quite a few emails and I've had a couple in-person conversations saying, Ian, what do you think about this? And so let's give the people what they want. What do we think about this? So first of off, we got a phone call from listener Laura Roder. She's the founder of Meet Edgar. And we're going to play a clip from her voicemail. By the way, I love receiving voicemails. This is an audio show after all. And you can leave us one at tropicalmb.com slash voicemail. Okay, so on to Laura Roder. When a fund manager takes a percentage of your portfolio, the way it works is

they take 1% of the total value. Joe is welcome to correct me if I'm wrong. So the way it generally

works is if you have 500K but your portfolio has dropped to 400k, you are going to pay out 1% of that 400k. You've lost 100,000 of the value,

but it's not like the fund manager loses money too. You're just paying them less, but you're

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