Why Dave Doesn’t Recommend Single Stocks

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 11 October 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

💵 Sign up for EveryDollar today - Create a free Budget! 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, and are disciplined and responsible! Next Steps: 💰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. Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 💼 The Ken Coleman Show 📈 EntreLeadership 💸 The Ramsey Show Highlights Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

Click on a timestamp to play from that location

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. David is in Knoxville.
0:24.0	Hi David, welcome to the Ramsey Show.
0:26.0	Hello.
0:27.0	Hi, what's up?
0:28.0	Well, my financial advisor has recommended that we shift. I mean mean we have historically just invested in
0:35.1	mutual funds as you've recommended well that we ship some money to a separate managed
0:40.4	account and just kind of wanted your opinion on that.
0:44.0	Well a managed to count in financial advisors parlance is mutual funds.
0:51.0	Well some of this was individual stocks.
0:54.0	Okay.
0:55.0	Well, you can do that in a managed account.
0:58.0	Well, that was...
1:00.0	Yeah, I would not do that.
1:02.0	I do not do that. And I know more about individual stocks than
1:05.2	your financial advisor does so and I'm not doing that so no thank you but a managed
1:11.4	account most of the finance under the new fiduciary rules that came out about three years ago,
1:17.0	ERISA and the SEC just tore up that industry.
1:21.0	And so most of the accounts are now managed accounts, meaning you pay like 1%
1:26.7	of the portfolio a year and they manage the entire portfolio and it can be a portfolio of mutual
1:32.2	funds and that's what most of our
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Ramsey Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramsey Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.