The Path to Financial Freedom
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 22 June 2021
⏱️ 18 minutes
🧾️ Download transcript
Summary
As a CFP and executive at CIC Wealth, Malcolm Ethridge helps clients figure out their own individual path to retirement. He shares how they’re feeling, their relative interest in meme stocks, and what he thinks the rest of the year will be like for people trying to chart their own financial path.
For more financial knowledge and insights, check out “The Tech Money Podcast with Malcolm Ethridge”.
https://podcasts.apple.com/ca/podcast/the-tech-money-podcast/id1543050659
Transcript
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| 0:00.0 | It's Tuesday, June 22nd. Welcome to Marketfoolery. I'm Chris Hill. With me today, I'm very happy |
| 0:08.5 | to have Malcolm Ethridge, a certified financial planner, executive vice president at CIC. Well, |
| 0:14.5 | he's also the host of the tech money podcast. He joins me now from where else is home. Malcolm, |
| 0:20.6 | thanks so much for being here. Happy to be here, Chris. I appreciate the invite. |
| 0:24.8 | So there are a few things I want to get to, but I was saying before we started recording, |
| 0:30.8 | people who are in your line of work who are working with clients with people who are trying to put |
| 0:36.3 | together a financial plan for their lives. I'm curious how the last six months has affected the |
| 0:44.8 | people that you're working with because to say it has been a roller coaster ride and there are |
| 0:50.7 | any number of reasons for that, including but that limited to widespread disbursement of the |
| 0:58.0 | vaccine, the rise of meme stock. So we can get into that. But just in general, the people that |
| 1:05.4 | you're working with, how are they feeling about 2021 so far? Yes, I'll bring that answer in |
| 1:11.2 | the two separate parts. And it'll be the group who were either clients of mine or clients |
| 1:17.1 | working with a financial advisor prior to COVID and then the client who started working with their |
| 1:23.2 | advisor through COVID up to call it a week ago or whatever. Because the client who had already |
| 1:31.0 | been working with an advisor are pretty much set in their plan. They're pretty much knowing |
| 1:40.7 | what their advisor is going to say. They're pretty much knowing where they should be focusing |
| 1:45.9 | and applying their their attention. But then the folks who are just now starting to work within |
| 1:51.2 | advisor or just started working with an advisor post COVID, they're getting rooted in what they're |
| 1:57.8 | understanding and they're planning and their approach is. And so there's still a little bit like |
| 2:03.7 | jelly or a jello, I think is what I you're trying to mold that jello still where it hasn't quite set |
| 2:10.8 | yet. It's still in the fridge. It's still curing and it hasn't quite set yet because it usually |
| 2:15.0 | takes about two years to really solidify in a person's mind what their financial plan is. |
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