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Ramsey Everyday Millionaires

Is It Wrong To Ask a Financial Advisor’s Net Worth?

Ramsey Everyday Millionaires

Ramsey Network

Investing, Careers, Business

4.63.6K Ratings

🗓️ 13 November 2023

⏱️ 5 minutes

🧾️ Download transcript

Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. To learn more about how to plan for Retirement click here To learn more about Investing click here Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0

This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.

0:11.0

Com slash invest.

0:22.0

You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth, and outrageous generosity. Today's question comes from Charlie in Georgia.

0:25.0

I'm about to start interviewing financial advisors.

0:28.0

I'm trying to find someone that is not starting a career, but is my age or older.

0:32.0

Is it wrong to ask them their net worth? They will know

0:35.4

what mine is. Basically, I don't want a broke person managing my money. That's interesting.

0:41.2

I don't know that I've heard that one before.

0:43.0

Asking your financial advisor what their net worth is.

0:46.0

And clearly he's an older individual, we don't know how old, you know, it's all relative,

0:51.0

but he wants to work with someone who's kind of in the same life

0:53.6

stage i guess is as him versus a young buck

0:56.3

who's just getting started

0:59.3

well i don't know what my

1:01.2

smart best or pros net worth is i've never asked and I've never been

1:04.3

curious to be honest. It's not a bad question. It's a little awkward.

1:12.0

Trying to think

1:19.1

I guess I don't correlate their knowledge base with their income necessarily which you know correlates with their network.

1:20.7

Due to a degree it'd be nice to work with someone who has, you know, if they got $10 million, I want to know,

1:25.4

hey, what are you doing?

1:26.6

You know, there's a piece of that that's attractive.

1:28.1

Yeah, but, you know, if they've been doing it 20 years and they don't have any wealth then no I would

...

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