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6 episodes with fire your financial advisor
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8 episodes with fire your financial advisor
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2 episodes with fire your financial advisor
Dental Specialist has paid off just over $489,000 in student loans just two years out of training! He took the Fire Your Financial Advisor course and created a written financial plan before he finished training. The first six months out of training he focused on paying off his car, credit card debt and and a loan from family. Then he aggressively went after his loans and was paying over $20,000 a month to get rid of those loans! He said he was worried about taking on so much debt but feels like it was very worth it because he loves what he does. Stick around after the episode for a discussion on the truth about investing. This podcast is sponsored by Bob Bhayani at drdisabilityquotes.com. He is an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. If you need to review your disability insurance coverage or to get this critical insurance in place, contact Bob at https://www.whitecoatinvestor.com/drdisabilityquotes today by email info@drdisabilityquotes.com or by calling (973) 771-9100. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones Main Website: https://www.whitecoatinvestor.com Student Loan Advice: https://studentloanadvice.com YouTube: https://www.whitecoatinvestor.com/youtube Facebook: https://www.facebook.com/thewhitecoatinvestor Twitter: https://twitter.com/WCInvestor Instagram: https://www.instagram.com/thewhitecoatinvestor Subreddit: https://www.reddit.com/r/whitecoatinvestor Online Courses: https://whitecoatinvestor.teachable.com Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter
KGMI's Dianna Hawryluk talks to CBS business analyst Jill Schlesinger about whether or not it's a good idea to fire your financial advisor.
#92 Did you know that there's a hidden 1% fee that will ultimately cost you 25% of your investments by the time you retire? Today I'm talking to Ramit Sethi, a renowned money expert, entrepreneur and the author of The New York Times best seller, I Will Teach You To Be Rich. Hear his actionable items on how to use your money and how to invest that you can implement immediately. You might just fire your financial advisor after listening. If you're ready to learn how to invest, join my free 5-Day Investing Challenge here (starts Monday): https://erika.com/invest Thanks for tuning in and come back every Tuesday for a brand-new episode! Make sure you hit the follow button to get notified. Prefer to listen on the go? Listen wherever you get your podcasts. https://www.erikataughtme.com/follow Prefer video or want closed captions? Watch this episode on YouTube. https://www.youtube.com/watch?v=Iibvs6ErIrg Did you enjoy the episode? Please leave us a review here https://erika.com/review : (just scroll to the bottom and tap on “leave a review”) It really helps the podcast especially since we're just getting started. Even just a sentence is perfect! Follow the podcast @erikataughtme across platforms. Connect with me on Instagram. https://www.instagram.com/erikankullberg For more information, go to https://erikataughtme.com Get on my personal finance & investing course priority waitlist here https://erika.com/3D-money Get my Mastering YouTube course, to learn how to grow a YouTube following and monetize it https://erika.com/mastering-YT Get more of my free resources. https://erika.com/all-links
This pediatric resident is preaching the importance of having a written financial plan. He is a second year resident and got back to broke by knowing exactly what to do with a windfall because he had a written plan. He took the Fire Your Financial Advisor course and now has all of the knowledge and skills he needs to stay on the road to financial independence. After the interview we will be talking about mutual funds for Finance 101. Resolve is the #1 rated physician contract team, reviewing 1000+ physician contracts every year. They empower physicians with location specific compensation data which leads to unparalleled leverage during the physician contract negotiation process. A physician contract lawyer is included and can negotiate on your behalf – alleviating the stress that can go along with reviewing complex legal terms. Flat-rate pricing and flexible schedules are designed for a physician's schedules. Use code WHITECOAT10 for 10% off! Visit WhiteCoatInvestor.com/Resolve The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones Main Website: https://www.whitecoatinvestor.com Student Loan Advice: https://studentloanadvice.com YouTube: https://www.whitecoatinvestor.com/youtube Facebook: https://www.facebook.com/thewhitecoatinvestor Twitter: https://twitter.com/WCInvestor Instagram: https://www.instagram.com/thewhitecoatinvestor Subreddit: https://www.reddit.com/r/whitecoatinvestor Online Courses: https://whitecoatinvestor.teachable.com Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter
Have you recently come to the realization that maybe your financial advisor actually doesn't have your best interest in mind? Have you been sold expensive and unnecessary life insurance products as investments? Have you been told not to prioritize your tax-advantaged retirement accounts and invest in other things? Then it's likely time to FIRE your financial advisor (pun intended). Here's how. No awkward conversation required! The goal of this podcast is to help spread financial literacy and empower PAs and other HCPs to be their own financial advisor, and if appropriate in the future, know how to find a fee-only fiduciary financial professional. If you can learn medicine, you can learn how to reach financially independence! Questions or thoughts about the show? Email pathefiway@gmail.com Are you just beginning your journey to financial independence and want to learn more? Download your FREE copy of the PA the FI Way Beginner's Workbook here! Website / Blog: pathefiway.com Enjoy the show? You can now support the PA the FI Way podcast through Buy Me a Coffee! Thank you for all of your support! https://www.buymeacoffee.com/pathefiway Follow along on Instagram: @pathefiway https://www.instagram.com/pathefiway/ Follow or connect on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/ Join the private Facebook group created for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway Like the Facebook page to follow along for updates: https://www.facebook.com/pathefiway Keywords: physician associate , physician assistant , physician assistant financial independence , physician associate financial independence , physician assistant finances , physician associate finances , physician assistant finance , physician associate finance , physician assistant money , physician associate money , physician assistant school , physician associate school , PA school , PA-S , PA-C , pre-PA , physician assistant student , physician associate student , physician , medical student , medical resident , medical residency , nurse practitioner , CRNA
This doc recently retired after a 40 year career that he loved with a nearly $50 million portfolio. He has been living and preaching the WCI methodology long before WCI existed. He tells us part of his secret to success is to choose where you live wisely and own your own business. He said owning his own surgery center made a massive difference to his happiness and his wealth because he got to control the way the practice was run, how efficient it was, who worked there etc. He is a testament of what can happen if you live below your means and invest wisely. He wants us all to remember to find joy in all stages of life and not just live for retirement. After the interview we will be talking about estate taxes for finance 101. No more wading through dozens of books at the library, scrolling through hundreds of blog posts on dozens of blogs, or checking in daily with online forums trying to gain a financial education the way the hobbyists do. For a fraction of the price of hiring a professional financial planner, the Fire Your Financial Advisor online course will take you from feeling anxious and having no plan to having a written financial plan you can follow the rest of your investing career as a professional and a retiree. This course is the material that should have been taught to you in college, medical school, or residency but never was. Fire Your Financial Advisor also has a version eligible for CME credit. Get your financial life in order today. Go to https://www.whitecoatinvestor.com/courses to sign up. You can do this and The White Coat Investor can help. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones Main Website: https://www.whitecoatinvestor.com Student Loan Advice: https://studentloanadvice.com YouTube: https://www.whitecoatinvestor.com/youtube Facebook: https://www.facebook.com/thewhitecoatinvestor Twitter: https://twitter.com/WCInvestor Instagram: https://www.instagram.com/thewhitecoatinvestor Subreddit: https://www.reddit.com/r/whitecoatinvestor Online Courses: https://whitecoatinvestor.teachable.com Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter
This hospitalist paid off $235,000 only 2 years out of residency. She has always been very debt averse and knew she wanted to get rid of it as quickly as possible. Nearly half of her income went to paying off her loans. She said paying off the debt was easier than she thought it would be largely because she is comfortable living like a resident. Her next goal is to buy a new car with cash. She plans to save for a house eventually but currently wants to pour money into her retirement accounts. She said paying off her loans has given her a huge sense of freedom. After the interview we will talk about emergency funds for Finance 101. No more wading through dozens of books at the library, scrolling through hundreds of blog posts on dozens of blogs, or checking in daily with online forums trying to gain a financial education the way the hobbyists do. For a fraction of the price of hiring a professional financial planner, the Fire Your Financial Advisor online course will take you from feeling anxious and having no plan to having a written financial plan you can follow the rest of your investing career as a professional and a retiree. This course is the material that should have been taught to you in college, medical school, or residency but never was. Fire Your Financial Advisor also has a version eligible for CME credit. Get your financial life in order today. Go to https://whitecoatinvestor.com/courses to sign up. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones Main Website: https://www.whitecoatinvestor.com Student Loan Advice: https://studentloanadvice.com YouTube: https://www.whitecoatinvestor.com/youtube Facebook: https://www.facebook.com/thewhitecoatinvestor Twitter: https://twitter.com/WCInvestor Instagram: https://www.instagram.com/thewhitecoatinvestor Subreddit: https://www.reddit.com/r/whitecoatinvestor Online Courses: https://whitecoatinvestor.teachable.com Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter
This episode is sponsored by Resolve. A physician contract review and compensation data company bringing change to physician contracts. Are you a physician tired of getting ripped off and wanting a fair shake on Wall Street? Rather than getting mad, understand how the financial services industry works. Do the right thing by knowing when and why to hire or fire your financial advisor. In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to Dr. Jim Dahle, a practicing emergency room physician and founder of The White Coat Investor, and Alan Moore, co-founder and CEO of the XY Planning Network about DIY financial planning versus hiring a financial advisor to help. Topics Discussed: • Making and Managing Money: Decide to hire help or do-it-yourself (DIY)? • Seeking financial advice: Stigma, status symbol, or too busy • Should a good advisor be saving you time and money? Good advice at fair price • Getting stuff done: Do you struggle to get those not so fun financial tasks done? • Mental energy: Are you fried and dreading financial chores? • Therapy and Financial Advice: Why financial planning often intertwines the two • Best and Worst Advisors: Compensation, commission, fee, CFP®, fiduciary? • Are you working with a broker or insurance agent posing as a “financial advisor”? • Conflict of Interest: Get a second opinion when pitched permanent life insurance • Financial Advice Future: Financial planning as a profession LINKS: www.WrenneFinancial.com
BIO: James M. Dahle, MD, is a practicing emergency physician who took an interest in personal finance and investing in residency after getting ripped off by every financial professional he came into contact with. He founded The White Coat Investor in 2011 to help fellow docs get a fair shake on Wall Street.STORY: James got sold a whole life insurance policy in medical school. He invested in it, thinking it would be a good option, only to realize seven years later that it was not. When he pulled out of the policy, he lost 33% of the premiums he had paid.LEARNING: You must understand anything you buy. Don't buy more insurance than you need. Focus on one catastrophe-related insurance product that's reasonable. “Insurance is expensive, so don't buy more than you need.”James M. Dahle Guest profileJames M. Dahle, MD, is a practicing emergency physician who took an interest in personal finance and investing in residency after getting ripped off by every financial professional he came into contact with. He founded The White Coat Investor in 2011 to help his fellow docs get a fair shake on Wall Street.Worst investment everWhen James was a medical student with minimal income, a friend interning with a large mutual life insurance company convinced him to buy a whole life insurance policy.Looking back, what James really needed as far as insurance went was a term life insurance policy. At that point, he was married with no kids, and his wife was designing her life around his financial future as a doctor. The insurance policy James invested in, partially as an investment, was a whole life insurance policy. He held on to that policy for about seven years when he realized this was not a good deal for him. Not only was it not the insurance James needed, but it was a lousy investment.By the time James surrendered that policy, his cumulative return was minus 33% of the premiums he had paid. So he walked away with only two-thirds of the money he had paid into it.Lessons learnedYou must understand anything you buy, especially if it has a long commitment.Don't buy more insurance than you need.Andrew's takeawaysFocus on one catastrophe-related insurance product that's reasonable, find the best price on it, and set it up to protect your family against that catastrophe. Then, build a solid investment plan with the remainder of your money.Actionable adviceWhile you don't want to get paralysis analysis, you do need to take the time to understand what you're buying, whether it's an insurance policy or an investment. You need to know how it works and how it's likely to perform over the long term so you're not disappointed and end up bailing out.James's recommendationsJames recommends evaluatelifeinsurance.org if you're already in a whole life insurance policy and trying to decide whether it's worth keeping it, even though maybe you shouldn't have bought it originally. He also recommends the Fire Your Financial Advisor, designed to help you write a financial plan to go from zero to 60.No.1 goal for the next 12 monthsJames's number one goal for the next 12 months is to help as many doctors as possible reach a situation where they feel good about their finances, whether...
11-01-2023 David Lewis Learn more about the interview and get additional links here: https://dailybusinessjournal.com/2023/11/01/when-to-fire-your-financial-advisor/ Subscribe to the best of our content here: https://priceofbusiness.substack.com/ Subscribe to our YouTube channel here: https://www.youtube.com/channel/UCywgbHv7dpiBG2Qswr_ceEQ
This Hospitalist and Cardiology Fellow couple paid off almost $400,000 of student loans before they were both out of training! They put their noses to the grindstone and put all of their money to their loans. They said they are naturally not big spenders but were not financially literate until a few years ago when they found WCI. Once they knew what they needed to do they wrote a financial plan, made a budget and reduced their spending even more. It took them less than 3 years to pay off all of their student loans. After the episode stick around for Finance 101 to talk about the importance of saving to grow your wealth. No more wading through dozens of books at the library, scrolling through hundreds of blog posts on dozens of blogs, or checking in daily with online forums trying to gain a financial education the way the hobbyists do. For a fraction of the price of hiring a professional financial planner, the Fire Your Financial Advisor online course will take you from feeling anxious and having no plan to having a written financial plan you can follow the rest of your investing career as a professional and a retiree. This course is the material that should have been taught to you in college, medical school, or residency but never was. Fire Your Financial Advisor also has a version eligible for CME credit. Get your financial life in order today. Go to https://whitecoatinvestor.com/courses to sign up. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones Main Website: https://www.whitecoatinvestor.com Student Loan Advice: https://studentloanadvice.com YouTube: https://www.whitecoatinvestor.com/youtube Facebook: https://www.facebook.com/thewhitecoatinvestor Twitter: https://twitter.com/WCInvestor Instagram: https://www.instagram.com/thewhitecoatinvestor Subreddit: https://www.reddit.com/r/whitecoatinvestor Online Courses: https://whitecoatinvestor.teachable.com Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter
Today we are talking with a doc that has hit a half million dollar net worth. He took our Fire Your Financial Advisor course and gained the confidence to take control of his financial life. He fired his advisor that was really just a salesman and started making big progress on financial goals. After the interview we will be talking about financial advisors and how to make sure you get a good one, if you get one at all. If you are finding our podcasts informative and helpful we would encourage you to sign up for our monthly newsletter! It is totally free and includes useful, actionable information NOT AVAILABLE on the regular blog posts. It's almost like being in a secret club - the kind of club that can boost your knowledge and enhance your wealth at the same time - with no strings attached. Sign up today at https://whitecoatinvestor.com/newsletter. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones Main Website: https://www.whitecoatinvestor.com Student Loan Advice: https://studentloanadvice.com YouTube: https://www.whitecoatinvestor.com/youtube Facebook: https://www.facebook.com/thewhitecoatinvestor Twitter: https://twitter.com/WCInvestor Instagram: https://www.instagram.com/thewhitecoatinvestor Subreddit: https://www.reddit.com/r/whitecoatinvestor Online Courses: https://whitecoatinvestor.teachable.com Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter
Should you fire your financial advisor? Tune in to learn about the 5 signs that maybe you should.
Three questions that financial advisors SHOULD be asking are:HOW ARE YOU? Financial health is very important, but as a financial advisor, I believe that financial, spiritual, relational, physical, and mental health are all related. In many cases struggles in one of these areas could cause struggles in others.What do YOU want? Many financial advisors assume that their clients want to retire "as early as possible" or make other assumptions. Remember, a fiduciary advisor has an obligation to help the client to meet the client's goals, so it is crucially important to ask the right questions. How would YOU like for me to communicate with you? Some clients want "big picture" level details and other clients want for extremely detailed oriented explanations. Some clients like to communicate virtually and others like to communicate in person.Don't forget to visit:www.weeklywealthpodcast.comTake the Valuebuilder Score Assessment at www.allofmyassets.com/value-builder-scoreTo set a time to speak with David about YOUR financial future, go to www.weeklywealthpodcast.com/contactus#weeklywealthpodcast #financialindependence #financialadvisor #certifiedfinancialplanner #money #moneymindset #fireyourfinancialadvisor
Buying a home is a big decision. It's one of the biggest purchases that you are ever going to make in your life, and it's the #1 error or issue that causes financial challenges for people. Everyone is susceptible, including physicians. In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to his colleague, Jennifer DeLorbe Quire, a Certified Financial Planner CFP®, about home-buying decisions. Topics Discussed: • Do's and Don'ts: How to make sure you stay on the right side of the tracks • Wrong Path: Approaching decision without big-picture plan in place • Right Way: Prioritize, plan, and identify purpose of what's most important • Timeline: Don't be pressured or rushed into buying a house; there's other options • Proceed with Caution: How one decision affects absolutely everything else • Need vs. Want: Justifying emotions with logic - spending more than you should • Cash Flow: Home costs add up, calculate budget, and build in a margin • How much should you spend on a house? Plan for what needs to be saved, what's most important, and what's left over Links: How Much Should Physicians Spend on Their Home? The Complete Guide To Physician Mortgage Loans All-In Home Costs Calculator The Key Process Behind Using Money To Live Better Lives with Jennifer Quire Hire or Fire Your Financial Advisor with Dr. Jim Dahle and Alan Moore The White Coat Investor - Should I Sell My House to Pay Off My Student Loans? Jennifer Quire on LinkedIn Contact Finance for Physicians Finance for Physicians https://www.reddit.com/r/whitecoatinvestor/comments/15i7i44/10kmo_mortgage_california_regrets/
Joe Still and Chaunsy Weisensel examine if $1 million is enough to retire, discuss how to know when it's time to fire your financial advisor, and share things you should consider before passing an inheritance to your children or grandchildren.
Are you planning for retirement? Already there? Are you working with a financial adviser but wonder if you could be doing better? That's an important question to consider.Greg Aler, founder and CEO of the financial planning firm Golden Reserve, is our guest on the Lean to the Left podcast. Greg believes that many people planning for retirement are being hoodwinked by financial advisors to whom they have given too much power over their investments and who are ripping off customers with percent-based fees.Greg was born and raised in small-town Ohio, and after attending law school, he worked at one of the largest law firms in the world. Greg went on to build three multimillion-dollar companies before the age of forty: an elder care law firm, a financial services firm, and a real estate company. He re-thinks and re-builds industries to help service the other 99 percent of America. Greg has his own TV, radio, and podcast show: Expedition Retirement.The only thing Greg loves more than cooking, scuba, boating, and laughing with friends on his back porch is being with his wife, Fernanda, and three kiddos (Lilly, Lola, and Louie).We're happy to welcome Greg to Lean to the Left today to talk about financial planning for retirement…a really important topic. Time to fire your financial advisor?Questions we discussed with Greg:Q. On your website in which you promote your book, “Fire Your Financial Advisor: 40 years of greed and exploitation of the American Retiree,” you say this: “there are wolves everywhere. Shockingly, most retirees have no idea what is going on with their money - or worse, what they're being charged.” Can you please explain?Q. Your book makes the case that financial advisors have massively failed retirees. How is that?Q. Many retirees have seen their IRAs and other retirement plans grow significantly. So, why should they care about the fees their financial advisor charges them to manage their retirement accounts?Q. Does working with a fiduciary advisor guarantee that a retiree can avoid these problems?Q. Not feeling confident in my ability to manage my own portfolio, some people default to their financial advisor, telling them to do what's best. Is it a mistake for people to do that?Q. How can retirees increase their own financial literacy?Q. What is a fixed index annuity, and how can it help retirees?Q. What is a “Retirement Planner” and why should retirees work with them instead of financial advisors?Q. What advice do you have for someone who wants to fire their financial advisor, but isn't sure how to do that?Become a supporter of this podcast: https://www.spreaker.com/podcast/the-lean-to-the-left-podcast--4719048/support.
Are you planning for retirement? Already there? Are you working with a financial adviser but wonder if you could be doing better? That's an important question to consider.Greg Aler, founder and CEO of the financial planning firm Golden Reserve, is our guest on the Lean to the Left podcast. Greg believes that many people planning for retirement are being hoodwinked by financial advisors to whom they have given too much power over their investments and who are ripping off customers with percent-based fees.Greg was born and raised in small-town Ohio, and after attending law school, he worked at one of the largest law firms in the world. Greg went on to build three multimillion-dollar companies before the age of forty: an elder care law firm, a financial services firm, and a real estate company. He re-thinks and re-builds industries to help service the other 99 percent of America. Greg has his own TV, radio, and podcast show: Expedition Retirement.The only thing Greg loves more than cooking, scuba, boating, and laughing with friends on his back porch is being with his wife, Fernanda, and three kiddos (Lilly, Lola, and Louie).We're happy to welcome Greg to Lean to the Left today to talk about financial planning for retirement…a really important topic. Time to fire your financial advisor?Questions we discussed with Greg:Q. On your website in which you promote your book, “Fire Your Financial Advisor: 40 years of greed and exploitation of the American Retiree,” you say this: “there are wolves everywhere. Shockingly, most retirees have no idea what is going on with their money - or worse, what they're being charged.” Can you please explain?Q. Your book makes the case that financial advisors have massively failed retirees. How is that?Q. Many retirees have seen their IRAs and other retirement plans grow significantly. So, why should they care about the fees their financial advisor charges them to manage their retirement accounts?Q. Does working with a fiduciary advisor guarantee that a retiree can avoid these problems?Q. Not feeling confident in my ability to manage my own portfolio, some people default to their financial advisor, telling them to do what's best. Is it a mistake for people to do that?Q. How can retirees increase their own financial literacy?Q. What is a fixed index annuity, and how can it help retirees?Q. What is a “Retirement Planner” and why should retirees work with them instead of financial advisors?Q. What advice do you have for someone who wants to fire their financial advisor, but isn't sure how to do that?This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4719048/advertisement
Your 60-second money minute. Today's topic: Is It Time to Fire Your Financial Advisor
Did you know that just a 1% fee can have a DRASTIC effect on your retirement account?Tune in this week with Rob Napolitano who explains why YOU should FIRE your financial advisor!RESOURCES MENTIONED:How a 1% fee affects your returnsWarren Buffett on Index FundsPercent of fund managers who CANNOT beat the S & P 500How “average” returns actually workAssets Under Management explainedFund of FundsSuze Orman – what she REALLY invests in!Suze's Bahamas homeCONNECT WITH ROB:Rob's LinkedInbrilliant@capturingtomorrow.comCapturing TomorrowSHOW SPONSORSTimothy Hero – Hero Lending#Screw The W2 YouTube ShowJeremy Olivier Voice Over – CONNECT HERE!STAY CONNECTED!InstagramTwitterYouTubeWebsiteAs always, be sure to follow, subscribe, rate and share this podcast with other like-minded individuals in pursuit of WEALTH and FREEDOM!Support the show
In this episode of the Living The Retirement Lifestyle Podcast we have as our guest Greg Aler author of Fire Your Financial Advisor and advocate for change in the world of financial services as it relates to retirement in America today. Greg has a fascinating background as you'll hear during our chat but it really does put him in a position to share what he knows about the industry and how retirees can fight back (and not just in America). Told though metaphors and recognizable events Greg shares the story inside his book of how the financial industry created a trillion-dollar empire by withholding information while over-charging and under-servicing retirees regarding the real risks of retirement. It was a very entertaining chat and we think you will see from the fact that despite being the CEO of 3 very successful companies he prefers a more relaxed look and can see why his clients would like him. We especially loved his idea that all retirees should have money set aside for fun, travel, hobbies or anything that they enjoy. https://vimeo.com/814682036 With staggering numbers of Americans living far longer than ever before (and no different to any other developed nation) our retirement savings need to go a lot further and take into account long term health care as well as investments and life savings. As we said above, what we liked best was when he said he encourages his clients to set aside money for their fun time as everyone in their retirement needs to enjoy this time of their life and not just be saving for the future. Greg has definitely stirred up a hornets nest but in a good way and highlighted the reason that the advice that your financial advisor might have given you to get to the top of "Retirement Mountain" probably won't help get you down. That is what most retirees miss – until it's too late... but no more! We hope you enjoyed the show as much as we did and you maybe go ask the question of your financial advisor
How Golden Reserve is helping you fight back against a financial system built more for them than for you. Our politicians keep changing the rules on how and when we can access our retirement money. Ken Fisher says inflation is dead and this year will be a huge bull market... How a Golden Reserve Elder Law Attorney can help with the important legal papers of retirement.
starting a business. If you're just beginning your personal finance journey, this can all seem a bit complicated. Where do you invest first? What should you do with extra cash? And how do you know a financial fiduciary is genuinely looking out for your best interest? Don't worry; you don't need all the answers. Just tune in, and listen to what financial expert Amanda Wolfe and Certified Financial Planner Kyle Mast have to say. It's been a few months since we spoke to our go-to money experts. But we've been receiving a ton of finance FAQs in our Facebook group. So, we rounded up some of the best and got Amanda and Kyle's take live on this episode. First, we'll go over when to pay off bad debt when starting a business and what a “no money down” business really means. Then, Amanda and Kyle give their strong stances on if bond investing makes sense for the average FIRE-chaser. You'll also hear the OPTIMAL way to set up your retirement investing, which accounts are worth hitting first, and the financial order of operations you should follow to optimize your retirement planning. And try not to send your financial advisor this episode because we'll be discussing when an advisor is and isn't worth the money and why a commission-based fee structure could be a big red flag when deciding who to invest with. All this (and much more) is coming up in this episode! In This Episode We Cover The exact way to invest for retirement and which accounts deserve your cash the most The backdoor Roth IRA explained and how to invest a MASSIVE amount in one of the most tax-advantaged retirement accounts Whether you should pay off bad debt BEFORE starting your own small business Investing in bonds and why this “safe” investment might not be worth the lost profit HSAs (health savings accounts) and when to get reimbursed for past medical purchases Fee-only vs. commission-based financial advisors and why the two are DRAMATICALLY different And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Mindy's Twitter Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Check Out Mindy's 2022 Live Spending Tracker and Budget She Wolf of Wall Street Website How MLMs and Pyramid Schemes Trap Average Americans Amanda's Past Episodes: From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes Kyle's Past Episodes: A Personal Finance Masterclass Retirement Planning During (and After) the Coronavirus with Kyle Mast How to Find the Best Possible Certified Financial Planner Click here to check the full show notes: https://www.biggerpockets.com/blog/money-394 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices
The reason Greg Aler wrote “Fire Your Financial Advisor” was the fee model that the financial industry has built. We have another example of someone who has fallen victim to fees way above one percent.
Greg's book “Fire Your Financial Advisor” outlines some of the conflicts created by the current financial industry model. We outline many of them today and show how Golden Reserve is set up very differently. Warren Buffet isn't a big believer in making your kids rich through inheritance. What options do you have to make that money last? The check the Kansas City Chiefs got for the Super Bowl was taxed at over 47 percent. Could that happen to you in retirement?
Why Greg wrote “Fire Your Financial Advisor.” Congress changed the retirement rules again. What do you need to know? Ken Fisher says the market will roar in 2023. What does he have to gain by saying that? All the advisors I see say I'm not rich enough for them to help me! Wills and Trusts. Who needs one and why?
Higher interest rates are seeing more people pull out of market risk in favor of fixed products. Are you choosing the best ones for you? Greg's book about the failures of the financial industry is now available. Golden Reserve is offering a big discount for a limited time. Another person writes to "Market Watch" wondering if they should leave their advisor. There is good debt and bad debt. Should you carry your mortgage into retirement? Are you ready to retire? Forbes has 5 questions to ask yourself. Greg has a few more.
Greed, exploitation and so many fees, all hidden in plain sight. That's your financial advisor, whose services and advice have been the outdated VHS player of retirement. Welcomed back to the Author Hour ... The post Fire Your Financial Advisor: Greg Aler appeared first on Author Hour.
The financial industry has built a model where it favors them if you keep your money in the stock market. But in retirement, you need to use that money. These two things do not go together.
Greg's book “Fire Your Financial Advisor” is now available! Sports betting is exploding. Did you think about the taxes? At Golden Reserve, "Financial Advisor" is a dirty word. Don't be a "Bad Santa" and give bad financial gifts to your kids. Secure Act 2.0 is a gift from Congress for retirees…or is it?
This dual physician couple tackled their student loans and built a net worth of $250,000 while still in residency! How did they do it? A commitment to saving, a strong aversion to debt, and living like a resident. He believes being an avid consumer of knowledge is critical for your financial journey. Want to jump start your journey to financial freedom? Check out our course, Fire Your Financial Advisor. This episode is sponsor by InCrowd. Their 5-10 minute MicroSurveys use a mobile-first approach, giving physicians an easy way to participate in paid research on diverse healthcare topics. It's medical research designed for physician schedules. Join now to be matched with studies that fit your areas of specialization at https://www.whitecoatinvestor.com/incrowd The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones Main Website: https://www.whitecoatinvestor.com Student Loan Advice: https://studentloanadvice.com YouTube: https://www.whitecoatinvestor.com/youtube Facebook: https://www.facebook.com/thewhitecoatinvestor Twitter: https://twitter.com/WCInvestor Instagram: https://www.instagram.com/thewhitecoatinvestor Subreddit: https://www.reddit.com/r/whitecoatinvestor Online Courses: https://whitecoatinvestor.teachable.com Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter
It's Sunday, which means...it's recap time here on the Retirement Quick Tips Podcast This week the theme was: How To Fire Your Financial Advisor In case you missed any episodes, here's what we discussed this week… How To Select A New Advisor Understanding The Account Transfer Process You've Left Your Financial Advisor For Someone New. What's Next? The most important takeaway from this week is… Tomorrow I'm starting a brand new weekly theme: New Retirement Plan Limits For 2023 One thing that we can thank inflation for as we close out the year is that the IRS recently announced huge bumps in retirement savings limits for 2023. So next week, I'll talk about what's changing for your 401k, IRA, and Health Savings accounts, and how you can best take advantage of these higher contribution rates. Thank you so much for listening this week! If you're enjoying the podcast, chances are someone else you know who is getting close to retirement could also benefit from checking it out, so please share the show with a friend, a neighbor, your sister, or your boss. Just go to your favorite podcasting app, hit the share icon, then text or email the show link to someone you know who is eyeing retirement. Thanks for sharing the love and spreading the word. I hope you have a blessed Sunday. My name is Ashley Micciche, this is the Retirement Quick Tips Podcast. ---------- >>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP >>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs >>> Visit the podcast page: https://truenorthra.com/podcast/ ---------- Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance
Welcome to a new week here on the Retirement Quick Tips podcast! I'm your host Ashley Micciche, co-owner of True North Retirement Advisors, an independent financial advisory practice managing $340 million in client assets. I'm a Chartered Retirement Planning Counselor, and I started this podcast because I love helping people just like you gain clarity and make a plan for the retirement you envision The theme this week on the podcast is: How to fire your financial advisor Many investors who work with a financial advisor aren't satisfied with the relationship, and plenty of DIY investors may not be that satisfied with the relationship of the investment company they're working with, and would prefer to move their accounts and work with someone else, but if that sounds like you, a lot of roadblocks prevent you from making a change. You may think that it sounds like too big of a headache to move your accounts or you worry about triggering taxes or penalties because of your move. Or maybe you've been working with your advisor for a long time, and you consider them a friend, you're afraid of the damage that making the switch will do to the relationship. Guilt or fear of the unknown keeps you from making the change. Believe me, I understand. I love the gal who does my hair, but her salon is in one of the worst parts of downtown Portland, where you've seen boarded up buildings, riots, and homeless encampments. I'm convinced that every time I go see her that I will return to my car with a window smashed in, but I won't leave her. So this week I'll talk about why clients will leave their financial advisor, the steps you should take if you're ready to make a change, and why it might be easier to make the switch than you might think. That's it for today. Thanks for listening! Come on back tomorrow… My name is Ashley Micciche...and this is the Retirement Quick Tips podcast. ---------- >>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP >>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs >>> Visit the podcast page: https://truenorthra.com/podcast/ ----------Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance
Greg's book “Fire Your Financial Advisor!” will be available in February of 2023. One of the reasons he wrote the book are stories like this.
Are you a physician tired of getting ripped off and wanting a fair shake on Wall Street? Rather than getting mad, understand how the financial services industry works. Do the right thing by knowing when and why to hire or fire your financial advisor. In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to Dr. Jim Dahle, a practicing emergency room physician and founder of The White Coat Investor, and Alan Moore, co-founder and CEO of the XY Planning Network about DIY financial planning versus hiring a financial advisor to help. Topics Discussed: • Making and Managing Money: Decide to hire help or do-it-yourself (DIY)? • Seeking financial advice: Stigma, status symbol, or too busy • Should a good advisor be saving you time and money? Good advice at fair price • Getting stuff done: Do you struggle to get those not so fun financial tasks done? • Mental energy: Are you fried and dreading financial chores? • Therapy and Financial Advice: Why financial planning often intertwines the two • Best and Worst Advisors: Compensation, commission, fee, CFP®, fiduciary? • Are you working with a broker or insurance agent posing as a “financial advisor”? • Conflict of Interest: Get a second opinion when pitched permanent life insurance • Financial Advice Future: Financial planning as a profession LINKS: www.WrenneFinancial.com Just as the right advice helps you thrive financially. The right support team allows you to excel professionally. Weatherby Healthcare's locums experts will match you with the best jobs, prepare you for success and provide 24/7 support. https://weatherbyhealthcare.com/
Get a copy of my free guide! ➡️ https://lighthousefreedom.com Episode Description: Kevin interviews David McAlvany, CEO of McAlvany Financial Group and author of Intentional Legacy, answering what your financial advisor MUST be discussing. Get David's book: Intentional Legacy https://amzn.to/3cSf3Lz Get a VIP connection to our experts! ➡️ https://investingsecrets.tv/VIP Subscribe and listen to Investing Secrets on all our platforms: ➡️ YouTube: https://investingsecrets.tv/YouTube ➡️ Apple: https://investingsecrets.tv/Apple ➡️ Spotify: https://investingsecrets.tv/Spotify ➡️ Google: https://investingsecrets.tv/Google Question? Have a question about investing or any of the secrets from this episode? Post in the comments section or email us. InvestingSecretsWithKevin@gmail.com Episode Sponsors ➡️ Living Wealth ➡️ Wellings Capital ➡️ Smeed CPA Investing Secrets with Kevin Attride was born out of a desire to empower investors and those interested in maximizing their finances. We're bringing you the tips, tricks, and secrets of successful investors and the wealthy no matter where you are on your journey. #InvestingSecrets #KevinAttride #DavidMcAlvany #McAlvanyWealthManagement #Stocks #Bonds #Gold #FinancialAdvisor #InflationHedge DISCLAIMER The information contained in this episode are opinions not to be used as individual guidance. As always, consult your own financial team for your investment decisions. We recommend that as a consumer, you exercise your due diligence and research any and all strategies outlined before adopting them for your unique situation. Investing Secrets with Kevin Attride and other encompassed entities are not responsible for any damages that result from an effort to implement the information provided in this or any other video, article, social media post, and related publications. Your use and viewing of any materials and videos published by Investing Secrets with Kevin Attride and other encompassed entities confirms your acknowledgement and agreement that Wyoming law will apply to any and all disputes related to the aforementioned entities and that Wyoming will serve as the venue for any disputes, claims, and litigious activities related but not limited to the materials produced by Investing Secrets with Kevin Attride and other encompassed entities. Investing Secrets with Kevin Attride, other encompassed entities, and all other associated persons including but not limited to independent contractors, employees, and affiliates, research and review all content for this site to the best of their abilities but make no guarantees, representations, or warranties as to the complete accuracy and inclusion of all relevant information for each video, including but not limited to all video streams, suggested and provided links and resources. All parties specifically disclaim any implied warranties of merchantability or fitness for any and all purposes. Copyright, Liability Waiver and Disclaimers As per and unless otherwise permitted under the United States Copyright Act, no part of the content of this video or any video published under Investing Secrets with Kevin Attride and other encompassed entities, shall be stored, copied, recreated, republished, or transported. Prior express written permission is required for any use of this video not permitted under the United States Copyright Act. All Rights Reserved.
In this episode: What to expect on your next 401K statement. Do you know what you're going to pay in taxes? Your financial advisor doesn't. Legal, taxes, finance and investments—all under one roof. Imagine if you didn't have to watch the market, and didn't care about the news? How much of your retirement planning can you do online with apps and software? Stop playing blackjack with your nest egg. Take your chips off the table. America's IRA Expert Ed Slott weighs in on having tax-free money in retirement. We're the trusted 7-iron on the golf course; the days of trying to smash that new high-tech, hybrid wood are past you.
Less is more. Really you're telling me that time away from work actually makes me a better doctor? A better person? Check out this episode to hear more about how time off is good for you personally and professionally... Take your time off Prioritize experiences Find your restorative time Today's sponsor...The MedEdWell Financial Resources page. Whether you need disability insurance, a student loan consult a CME course or helping know whether you need to Fire Your Financial Advisor, head on over to mededwell.com/financialresources
Buying a home is a big decision. It’s one of the biggest purchases that you are ever going to make in your life, and it’s the #1 error or issue that causes financial challenges for people. Everyone is susceptible, including physicians. In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to his colleague, Jennifer DeLorbe Quire, a Certified Financial Planner CFP®, about home-buying decisions. Topics Discussed: Do’s and Don’ts: How to make sure you stay on the right side of the tracks Wrong Path: Approaching decision without big-picture plan in place Right Way: Prioritize, plan, and identify purpose of what’s most important Timeline: Don’t be pressured or rushed into buying a house; there’s other options Proceed with Caution: How one decision affects absolutely everything else Need vs. Want: Justifying emotions with logic - spending more than you should Cash Flow: Home costs add up, calculate budget, and build in a margin How much should you spend on a house? Plan for what needs to be saved, what’s most important, and what’s left over Links: How Much Should Physicians Spend on Their Home? The Complete Guide To Physician Mortgage Loans All-In Home Costs Calculator The Key Process Behind Using Money To Live Better Lives with Jennifer Quire Hire or Fire Your Financial Advisor with Dr. Jim Dahle and Alan Moore The White Coat Investor - Should I Sell My House to Pay Off My Student Loans? Jennifer Quire on LinkedIn Contact Finance for Physicians Finance for Physicians
Have you ever worked with a financial planner? Do you have enough money saved for a financial planner to help? When are you ready to hire a financial planner? Depends on the situation or preference. If you want help, the sooner the better. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Jeff Wenger, a Certified Financial Planner (CFP®), about when to hire a financial planner. Topics Discussed: Use Cases: When to start working with a financial planner Human Capital Habits: How do you accumulate your wealth? Income Life Transitions: Get finances right in the beginning by planning for the future Finances and Investments: What are your options? Inefficiencies? Backdoor Roth IRA: Involves all different facets of financial planner tasks Reasons to Hire a Financial Planner: Don’t have time to handle your finances. Unsure if things are getting done correctly. Complexity of your finances is intimidating. Struggling to keep finances organized. Ways to Engage a Financial Planner: 95% of the industry has a sales/commission component. Verify terminology given by business to know if it is misleading. Pay for financial planner’s advice. You’re not locked in to work with the same financial planner forever. When to Seek Help from a Financial Planner: Educate yourself to make the best decision. Know the pros and cons of finding a financial planner. Figure out if now is the right time or not. Links: Jeff Wenger on LinkedIn Wrenne Financial Planning Hire or Fire Your Financial Advisor with Dr. Jim Dahle Contact Finance for Physicians Finance for Physicians
Bernard Reisz is a CPA and a Principal at ReSure Financial Advisors LLC, where he provides financial consulting and tax advisory services. Bernard offers holistic finance and tax expertise, focusing on real estate, entity structuring, and self-directed retirement accounts. Bernard is also the founder of 401kCheckbook.com, which gives investors direct control of their tax-sheltered funds for real estate equity and debt opportunities using Checkbook Control IRAs, QRPs, Solo 401(k)s, and Checkbook Life Insurance. In this episode… What is the real cost of a financial advisor? The short answer is 1.5% per—but that is only half the truth. According to Bernard Reisz, paying a financial advisor a percentage of your portfolio will set you back in millions over the long run for little or no value add. So why pay so much when you can empower yourself to manage your portfolio and save millions in fees? Is it even possible for you to learn to manage your own financial or investment portfolio? On this episode of the Tax Resolution Ninja Show, Allan Rolnick interviews Bernard Reisz, the Principal at ReSure Financial Advisors LLC, to discuss the real cost of hiring a financial advisor and why he thinks it's a bad idea for you to hire one. Bernard also explains why it's important for everyone to know how the financial industry works, what you can do to take control of your investment portfolio, and how you can manage this successfully without leaking millions in fees. Stay tuned.
Episode 12: Why You Should FIRE Your Financial Advisor | Money Saving Life Hacks In this episode we will be discussing why we think most people should FIRE their financial advisors. Why do we say to fire your financial advisor? Well, oftentimes financial advisors are holding you back from achieving financial success faster. What do we mean by this? Financial advisors typically charge anywhere from 1-2% of AUM (Assets under management) to have you as a client. In addition to the AUM fee you're paying with your advisor - you also have to pay “hidden” fees for the investments they put you in. Sometimes the advisors get a kick back from the funds they recommend or put their clients in. What do we mean by this? If they put you in a mutual fund, that fund could charge an annual expense ratio anywhere from 0 to 1% or more. They could be using front end load or back end load mutual funds Explanation on front end and back end load mutual funds Front end load mutual funds are mutual funds that charge a fee upon investing in them. Back end load mutual funds are mutual funds that charge a fee upon redeeming or selling the mutual fund. Selling point is that they will have LESS ongoing fees than a traditional fund that may charge 1% or so. Obviously we know at D&H - that you can buy no-load mutual funds/etf's with no or extremely low fees. AVOID front end/back end load funds that some advisors recommend This can be a HUGE drag on your overall investment success. What should you do instead of hiring a financial advisor? Invest in broadly diversified low cost ETF's and mutual funds. We have a full episode of some of our favorites- check out episode 005 If you do want to have an advisor: Make sure to hire someone who is held to the fiduciary standard AND who is FEE only What is a fiduciary? Someone who is bound by law to put your interests ahead of their own interests One would think anyone giving investment Who is a fiduciary: Any investment advisor who is registered with the SEC (Securities and Exchange Commission) Who does not have to be a fiduciary? Insurance agents, stock brokers, and broker dealers - They only have to adhere to the “suitability standard” - which lacks teeth Two types of financial planners: Fee only and Fee Based Fee Based financial planners - Charge you a fee based upon assets under management. As your portfolio grows, so does the raw dollar amount that they're being paid for their services. This fee can often get out of control as you accumulate a large sum of money. $2m portfolio becomes 20k in fees at 1% and 40k in fees at 2% Websites mentioned on the podcast: Headline: How to invest money based on advice from Warren Buffet How to find a fee only financial planner: www.NAPFA.com Clark howard credit freeze guide: https://clark.com/credit/credit-freeze-and-thaw-guide/
*note* this letter made more people mad than usual so I want to apologize in advance. I make some generalized comments here that aren’t true for everyone and every situation, I just personally get fired up by it. It’s not meant as serious specific advice for you personally. Enjoy :)The term “financial advisor” recently made me extremely angry. Who the hell gave these people the right to manage other people’s money, anyway?Remind me again why someone who makes around 100k a year should be determining what MILLIONAIRES do with their money? That’s like saying a 10th grader should take the game winning shot in the NBA finals instead of Lebron James.No thanks, I’ll go with Lebron, the guy who actually knows how to shoot.The same goes for your money. In my humble opinion, we should all stop trusting people who never actually CREATED anything valuable (like a company) to manage the profits of a company. This got very personal for me this week. This is my dad, I know, we look like twins.My dad has worked his actual a** off for 30+ years as a school administrator (mostly as a Principal).He’s literally incredible at it. But it’s a BEAST of a job. Extremely stressful, long hours, and lots of people depending on him.He’s saved up, he’s been smart. Like most normal people, he has a retirement account, and its basically hands off from there. Some financial advisor “manages” the money. He showed me his portfolio the other day and I almost threw up. I literally almost drove to wherever his “advisor” was and fist fought him. I’m not joking. SOMEHOW, I honestly have NO IDEA HOW, this “advisor” has VASTLY underperformed the OVERALL MARKET over the past 20 years. Like I’m talking, if my dad had just bought the S&P 500 (a basket of all the best “stocks”).He would have outperformed this “advisor” by over 300%.It’s sickening. It’s disgusting. These people aren’t only stealing MONEY by charging fees for something that a MONKEY could do better…They are stealing TIME.And that’s the worst offense of all. My dad could be retired. He could be here in Pittsburgh with ME. And that would be literally PRICELESS.But no, some “advisor” decided to “manage” my dad into YEARS more work (unless we can turn it around).So after I stopped fuming, and I tried to help my dad fix it (which he did)…I wanted to write you all this letter to hopefully prevent some of you from making the same mistake…Here’s what you can take to the bank.1) The CATEGORY of assets you invest in matters WAY MORE than the individual ASSETS. This is why stock picking and financial advisors are for idiots. Even the BEST STOCK BROKERS ON THE PLANET CAN’T BEAT THE MARKET AS A WHOLE.It’s been proven over and over again. So why do you think you can?The reason my dad’s portfolio underperformed so badly is because he was in CATEGORIES that literally make no sense. Examples - Bonds (government is printing money and they yield less than a savings account)Oil (hello, the world is going ELECTRIC whether you like it or not)Blue Chip Stocks (McDonalds and Coca-Cola aren’t going to outperform Apple and Facebook). Which leads me to my second point. 2) Diversification is so overrated it’s literally UNBELIEVABLE.Name me one extremely rich person who got there by using a “diversified portfolio”.I’ll wait. And I’ll be waiting forever because it’s a lie from the devil.Financial advisors WANT you to believe that you need to be “diversified” because that’s how they MAKE THEIR MONEY!If it really was as simple as buying the S&P 500 and holding..Or buying Bitcoin and holding…Or buying Gold and holding…WHAT THE HELL WOULD WE NEED THEM FOR???Exactly.Plus, regardless of that insane bias which should be illegal in my opinion. Did I mention no one ever got rich diversifying?The perfect example is Elon Musk. Dude sold Paypal and pocketed 180 Million.What did he do? Get a diversified stock portfolio?NO.He put ALL of it in his 3 COMPANIES. ALL OF IT.He literally had to sleep on friends couches for YEARS because he didn’t have money for RENT. Now he’s worth 100 Billion.Summarizing, HOPEFULLY.Obviously there are caveats to all of this. It’s impossible to give financial advice to ANYONE because everyone is different. A 60 year old wanting to retire needs a TOTALLY different strategy than someone like me. But I will tell you this, you DON’T NEED A “FINANCIAL ADVISOR”.What you need is FOCUS.Focus on creating something VALUABLE (a product or a company) that can actually generate PROFIT.If you don’t do that, you are already on the slow lane. I’m sorry to break it to you, and I love my dad to death. But no amount of years working as a Principal…PLUS the BEST investment strategies of ALL TIME.Would ever generate as much wealth as starting a business. It’s literally impossible, and that’s okay, but it’s a CHOICE>Trading your time for money isn’t going to cut it. And you aren’t going to “invest your way” to riches anytime soon, no matter what you do. Now with that out of the way. Once you’ve started a business and made some real money. When you go to invest it…Don’t listen to the “stock pickers”.and the “gurus”.Pick ASSET CLASSES that MAKE SENSE.I won’t go into this right now, you can read my other letters for that. But let’s just say this. If my dad had simply bought gold 20 years ago and buried it in the back yard. He would have had a MUCH more valuable ASSET than he does today…And it would have been even better if he would have bought the DIGITAL version of that gold..Anyway.. see you tomorrow…KaleIt’s 19 cents a letter to subscribe to this… that’s pretty crazy. Plz do it now if you haven’t already. I promise to deliver you a lot more than 19 cents of value with each letter, lol. 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In today's episode, we speak with Dr. Leah Houston about her revolutionary new business HPEC- the Humanitarian Physicians Empowerment Community. Her business is using Blockchain technology to build a platform that alleviates the third-party roadblocks that erode our patient-physician relationships. Listen as as she shares her expertise in this topic and hear all about the future of healthcare. In this episode, you will learn: What is HPEC and why did she start it? What is Blockchain technology and how it can be helpful to physicians. How this technology could reduce or eliminate fraud in the system. Why she feels that cutting out the middle man in the system can help physicians to find joy in medicine again. What is the Decentralized Autonomous Organization of Doctors or Doctors DAO? Why she feels that patient portable electronic health records are important. How she feels that the digital health revolution will help physicians take care of patients in a superior way. Leah Houston, M.D. is a board certified emergency physician. While practicing emergency medicine across the U.S. for nearly 10 years, she recognized a common problem. Uncompensated administrative burdens related physician employment and credentialing are a leading cause of administrative waste and physician burnout. She began HPEC in 2018 when realizing that Blockchain could solve the obstructive regulatory problems in healthcare with its distributed ledger technology. HPEC is building a platform that will give every physician a self-sovereign digital identity attached to their credentials in order to create a decentralized autonomous organization of physicians and surgeons. This is essentially a democratic physician's guild. HPEC will streamline the current laborious process of credentialing, reduce administrative waste, improve access to care and give physicians sovereign ownership of their data and employment rights. The organization will also create an opportunity for physicians to communicate more efficiently about policy, practice and, in turn, improve patient care. Links we discussed in the show: Check out Leah's Blockchain based business at: HPEC.io. Special thank you to this week's show sponsor: The White Coat Investor's new course Fire Your Financial Advisor! Thank you for listening to the Hippocratic Hustle! I know that time is your most valuable resource so I really appreciate you spending some of it with me. If you enjoyed today's show, please share it! If you'd like to help me improve and grow the podcast, send your suggestions to: Carrie@HippocraticHustle.com Lastly, don't forget to subscribe to the podcast, so you won't miss an episode!
In today's episode, we speak with Dr. Shruti Tannan about online marketing for physicians. She goes into detail about why she wrote a book on this subject, what she recommends to increase traffic and how to grow your business using various online techniques. Don't miss out as she shares her best tips and tricks with all of us! In this episode, you will learn: Why Dr. Tannan decided to write a book about online marketing for physicians. What she recommends medical practices do to increase online traffic. What types of online advertising she recommends and why. How to write copy for your website and blog to help rank higher in the search engines. Why it's important to be authentic online so your patients relate to you. Why it's super important to have positive reviews online. When to outsource marketing versus when to spend time on it yourself. How to come up with your overall marketing strategy and outline. Why you should update your website and content over time to stay current. How she started the process of writing the book and publishing it. Shruti Tannan, MD is a board certified plastic surgeon with additional subspecialty certification in hand surgery. Dr. Tannan has a unique perspective on the business of medicine with experience both in the academic and private sectors. She began her career as faculty at a major academic medical center followed by the successful launch of her private practice: Tannan Plastic Surgery in Raleigh, NC. Years of advising colleagues in medicine, dentistry and allied health sciences inspired Dr. Tannan to share her evidence based approach to online marketing in her book, “Pillars of Practice: Online Marketing Tactics they Never Taught us in Medical School.” Links we discussed in the show: Check out Dr. Tannan's book on Amazon: Pillars of Practice. Find Dr. Tannan's website at: Tannan Plastic Surgery. Special thank you to this week's show sponsor: The White Coat Investor's new course Fire Your Financial Advisor! Thank you for listening to the Hippocratic Hustle! I know that time is your most valuable resource so I really appreciate you spending some of it with me. If you enjoyed today's show, please share it! If you'd like to help me improve and grow the podcast, send your suggestions to: Carrie@HippocraticHustle.com Lastly, don't forget to subscribe to the podcast, so you won't miss an episode!
Today is a very special episode with a celebrity guest that needs no introduction. Jim Dahle, MD, the White Coat Investor, is here to talk with us today about how he got started with his financial blog and how he has come to be the go-to resource for physicians seeking financial advice and guidance. Miss Bonnie MD is also here to speak with the us and share all of her financial wisdom too. Listen in as Carrie, Bonnie and Jim discuss all things financial and share so many great tips to set you on the right track to a prosperous financial future. In this episode, you will learn: Why Dr. Dahle decided to start his blog and how it was a business from day one. How he grew his business from a simple blog to a prosperous business. How his whole family is also involved in the business and how that makes it fun. When the next edition of the White Coat Investor Conference will take place. Why he thinks Financial Independence is important for physicians but balance is also important as well. How he feels about retirement from medicine and what his plans are for his future. Why Dr. Dahle thinks that more physicians should explore working part time. Why he feels that physicians can be guilty of spending too much and not saving. How he has made financial mistakes over the years and has learned from them. What are the biggest financial mistakes physicians are making. How he thinks getting family involved in finances is healthy and prosperous. What are the White Coat Investor's plans for the future and what can we expect to see from him. Links we discussed in the show: For more great physician specific financial advice, check out the The White Coat Investor. Check out Bonnie's blog for great financial advice at Miss Bonnie MD. Learn more about the Fincon Financial Expo. Dahle's Book The White Coat Investor is a great place to start learning about finance. Special thank you to this week's show sponsor: The White Coat Investor's new course Fire Your Financial Advisor! Thank you for listening to the Hippocratic Hustle! I know that time is your most valuable resource so I really appreciate you spending some of it with me. If you enjoyed today's show, please share it! If you'd like to help me improve and grow the podcast, send your suggestions to: Carrie@HippocraticHustle.com Lastly, don't forget to subscribe to the podcast, so you won't miss an episode!
In today's episode, we are so happy to welcome back our most frequent guest of the podcast. She is the multi-talented Emergency Medicine Physician and Founder of FeminEM, Dara Kass, MD. I first talked with Dara in Episode 3 of the Hippocratic Hustle Podcast. In that episode, Dara explained how she was developing a conference specifically for EM women physicians. Then, in Episode 25, Dr. Kass was back to discuss how amazing the conference was and its significance. Today, Dr. Kass is back again to tell us all about the most rewarding physician job she has ever had as a camp doctor and how you can become one too! She also tells us all about her newest venture with Camp Health Consulting and how she is leading the way in camp healthcare. In this episode, you will learn: Why Dr. Kass created The FeminEM Podcast and what's new on her show. How she got involved in becoming a camp doctor and why she was interested in it. What Camp Health Consulting is and why Dr. Kass started this new venture. The most rampant disease at summer camp! What types of physicians work at camps and how you can get involved. How Camp Health Consulting is implementing protocols at camps. How Dr. Kass set up the Camp Health Consulting business model. Why she loves camp and thinks it is a life changing, magical experience. Dr. Dara Kass is currently an Assistant Professor of Emergency Medicine at Columbia University Medical Center in NYC. A graduate of SUNY Downstate Medical School and Kings County Hospital's EM residency, she has spent her entire clinical career working in within the 5 boroughs of New York. Upon completion of her residency, Dr. Kass joined the fledgling faculty Staten Island University Hospital, where she helped start its EM residency. Dr. Kass left Staten Island 5 years ago to join the faculty at NYU as their director of undergraduate medical education. Dr. Kass stepped back from her defined title at NYU to focus on FemInEM, an open access resource for women in EM. Most recently, she now serves as an Assistant Professor of Emergency Medicine at Columbia University Medical Center in NYC where she is also the Director for Equity and Inclusion in the ED. Dr. Kass lives in Brooklyn NY with her husband, Michael and 3 kids, Hannah, Charlie and Sam. Links we discussed in the show: The FeminEM Idea Exchange (FIX 2018) Conference: October 16-18th in NYC Listen in on The FeminEM Podcast. Find more information about camps at The American Camp Association. Learn more about Dr. Kass' newest venture into Camp Health Consulting and Certification. For more information on camp jobs email: Jobs@CampHealthConsulting.com. Quotes from Dara Kass, MD: “There is no textbook in camp healthcare.” “We need to be quicker in our resources and our reactions, but if you do it consistently, it's awesome.” “You get to teach kids to be autonomous.” “You need doctors and nurses who are trained in camp to come there and do a great job.” “It is so much fun to practice medicine this way!” Special thanks to this week's sponsor: The White Coat Investor's new course Fire Your Financial Advisor! Thank you for listening to the Hippocratic Hustle! I know that time is your most valuable resource so I really appreciate you spending some of it with me. If you enjoyed today's show, please share it! If you'd like to help me improve and grow the podcast, send your suggestions to: Carrie@HippocraticHustle.com Lastly, don't forget to subscribe to the podcast, so you won't miss an episode!
Dr. Nii Darko is a trauma surgeon living in Pennsylvania and also the creator of the wildly popular Docs Outside the Box Podcast. In his podcast, Nii interviews ordinary doctors doing extraordinary things. Nii's guests have broken the typecast of doctors as just being doctors. He has interviewed physicians that are also media moguls, activists and trend setters. He has also recently written a book and manages a locums company. In between all of this, he and his amazing OB/GYN wife, Renee, paid off over 662,000 dollars in student loans! In this episode, you will learn: How he found freedom from traditional medicine through his podcast. Why he feels it is important to give diverse doctors a voice on his show. How he got into the Locums Life and how that has changed everything for him. How he started the podcast and got the original idea to do it for physicians. Where he finds time to be a podcaster in the busy life of a trauma surgeon. What the hardest thing about being a podcaster is. Who his favorite podcast guest is so far. How he got the idea to write his book for podcasters in the making. How he tackled a huge amount of student loan debt between him and his wife. Links we discussed in the show: Check out the Docs Outside the Box Podcast. Don't miss out on Nii's new book 3, 2, 1... Podcast! Hear Nii on Dave Dennison's Doctor Freedom Podcast. Contact Nii by email at nii@docsotb.com, or find him on Instagram, and Twitter. Quotes from Nii Darko, MD: “It's ok to just say, “I'm not just a doc.” “I just wanted to tell other people's stories and I wanted to tell it my way.” “I love taking care of patients, I love what I do on a daily basis, but I love myself just as much.” “I think the hardest thing about podcasting is realizing the show is not about me, the show is about the audience.” “Loans were just basically the pain point for all the different things in our lives.” “There is a difference between success and fulfillment.” Special thanks to this week's sponsor: The White Coat Investor's new course Fire Your Financial Advisor! and PearsonRavitz for all of your physician disability and life insurance needs. Thank you for listening to the Hippocratic Hustle! I know that time is your most valuable resource so I really appreciate you spending some of it with me. If you enjoyed today's show, please share it! If you'd like to help me improve and grow the podcast, send your suggestions to: Carrie@HippocraticHustle.com Lastly, don't forget to subscribe to the podcast, so you won't miss an episode!
Dr. Nicole Swiner is a family physician, mother of two, author, speaker, professor and owner of her own publishing company. Her interests include: minority health, women's health, and pediatrics. She is an author of many books including, “How to Avoid the Superwoman Complex: 12 Ways to Balance Mind, Body and Spirit.” In this episode, she talks to us about how she thought of the idea to write this book, and how we can all apply it to our busy lives as physicians to gain health and happiness. In this episode, you will learn: Her definition of the Superwoman Complex. How the complex specifically applies to women physicians. Her tips to balance mind, body and spirit along with everything else in life. How important it is to outsource and delegate things in your life. Why she decided to write the book and how she got started as an author. How she started her own publishing company to self publish her work. Her tips on how to become an author and start writing when you're busy. Why she enjoys public speaking and how you can get speaking gigs too. Dr. Swiner did her undergraduate studies at Duke University, and obtained her medical degree from the Medical University of South Carolina, Charleston. From there, she decided Family Medicine was for her, and completed her residency at the University of North Carolina – Chapel Hill. Currently Dr. Swiner is an adjunct associate professor at U.N.C.'s Family Medicine Department in Durham, North Carolina. Links we discussed in the show: Swiner can be found at docswiner.com, on Facebook, Twitter, and Instagram. Find all of her books on Amazon or other online booksellers: How to Avoid the Superwoman Complex: 12 steps to balance mind, body and spirit. The Superwoman Complex: A Follow-Up Visit. Thinking about Quitting Medicine? Swiner got her inspiration for her book from this book: The Superwoman Syndrome. Find out more about Kevin MD and his Physician's Speakers Bureau. If you want to find out more about attending Dr. Swiner's Overnight Writing Retreat check that out here. Quotes from Nicole Swiner, MD: “It sounds easy, but it's probably the hardest thing, it's to say no.” “It all comes back to self care.” “Don't feel stuck. Do what makes you happy!” “We have huge amounts of knowledge and experience that we can share with the world.” Special thanks to this week's sponsor: The White Coat Investor's new course Fire Your Financial Advisor! Thank you for listening to the Hippocratic Hustle! I know that time is your most valuable resource so I really appreciate you spending some of it with me. If you enjoyed today's show, please share it! If you'd like to help me improve and grow the podcast, send your suggestions to: Carrie@HippocraticHustle.com Lastly, don't forget to subscribe to the podcast, so you won't miss an episode!
Dr. Nina Shapiro is one of America's leading physicians. With more than two decades of experience in clinical and academic medicine, she's a trusted expert whom her patients and the media rely on routinely to set the record straight about the latest health fads and misconceptions. In today's episode, I discuss her newest venture, her myth-busting and evidence-driven book: “Hype: A Doctor's Guide to Medical Myths, Exaggerated Claims, and Bad Advice - How to Tell What's Real and What's Not.” In this episode, you will learn: How she came up with the idea to write a book and why she felt it was important. Her process of writing the book and how she made time for writing. How she did her research to dispel medical myths. How she has dealt with people that disagree with her message. Nina's tips for getting on television or radio as a physician and what it's really like to be on TV. Her advice on how to address patients' questions regarding alternative medical treatments How to go about writing a book and how to know if the idea is good “book material” Dr. Shapiro is the Director of Pediatric Otolaryngology and a Professor of Head and Neck Surgery at the David Geffen School of Medicine at UCLA. A graduate of Harvard Medical School and Cornell University, she completed her surgical residency at Harvard and finished additional subspecialty training in pediatric otolaryngology at the Great Ormond Street Hospital for Children in London and the Children's Hospital of San Diego. She has appeared on many broadcast programs, including CBS's “The Early Show,” “Extra,” CNN and National Public Radio. She is a regular guest on the Emmy-Award winning television show “The Doctors,” and her work has been featured and published in the Wall Street Journal, Los Angeles Times, Hollywood Reporter, Redbook. Prevention, First for Women, Real Simple and many other print and online publications. Links we discussed in the show: Nina Shapiro's new book can be found on her website www.drninashapiro.com and also at all major booksellers. You can also check out her blog, Facebook and Twitter. Quotes from Nina Shapiro, MD: “We really need to break out of that dogma and engage in some conversation.” “Writing the book is the easy part, getting people to read it is the hard part.” “I'll be honest, patients do sometimes get on my nerves, with their questions starting with, “Do you believe in…?” I wish to interrupt with, “The Easter Bunny, ghosts, The Tooth Fairy?” All these are indeed beliefs, but medicine is not a belief, and I practice based on evidence.” “What I did know was my conviction of what I needed to say and what information I felt like needed to be said.” Special thanks to this week's sponsors: The White Coat Investor's new course Fire Your Financial Advisor! and PearsonRavitz for all of your physician disability and life insurance needs. Thank you for listening to the Hippocratic Hustle! I know that time is your most valuable resource so I really appreciate you spending some of it with me. If you enjoyed today's show, please share it! If you'd like to help me improve and grow the podcast, send your suggestions to: Carrie@HippocraticHustle.com Lastly, don't forget to subscribe to the podcast, so you won't miss an episode!
It is a very special day at the Hippocratic Hustle, as I interview our first ever male guest! He is one of the superheroes of physicians and finance. Please welcome, Physician on FIRE, the anonymous anesthesiologist who started the very popular blog by the same name. What exactly is F.I.R.E.? How can we calculate our annual expenditures? What about projections and inflation? What should we do about those pesky student loans? How can we double our money? How long will it take me to really be able to retire? So many questions! Not to mention, when we talk about finances, it's all quite confusing. Have no fear though, Physician on FIRE (PoF) shares his extensive knowledge on topics about financial independence (F.I.) and retiring early (R.E.). He is an anesthesiologist who attained financial independence at the age of 39, and now teaches other physicians to do the same. Listen in as PoF and I discuss why we should consider F.I, the benefits and tips to achieving it, and if your goal is to retire early, we have you covered there too! In this episode, you will learn: What exactly is FIRE and how you can apply it to change your life Why you should consider financial independence early in your career and start investing now How you can determine your annual expenditures now and in the future How much you really need to save to live the lifestyle you want in retirement What is the rule of 72 and how will it help you achieve financial independence How PoF's methods can help you achieve true work-life balance as a physician How can physicians specifically work towards attaining FIRE Should you pay off those low interest school loans and mortgages now What does R.E. (retire early) exactly mean for Physician on FIRE. What exactly is Geographic Arbitrage and how you can use it to your advantage Links we discussed in the show: If you want to know more about Physician on FIRE, you can visit his website. You can also follow him on Facebook and Twitter. Also, join the online community Physicians on FIRE. If you also want to read more about the Rule of 72, you can check it out on Physician on FIRE's site as well. If you're looking to dive deeper into the world of financial independence, you can check out Mr. Money Mustache's website and Choose FI's website. Lastly, you can also look into The White Coat Investor Website and follow their White Coat Investor Blog too. Quotes: “A lot of people don't know what they spend. You have to keep track of it.” “It's about having the ability to live the way you want to - with or without the paycheck.” “Financial independence affords physicians the opportunity to practice medicine the way they want.” “I think retirement is when you don't rely on income.” Special thanks to this week's sponsors: Larry Keller from Physician Financial Services and the Brand New Course from the White Coat Investor, Fire Your Financial Advisor! Thank you for listening to the Hippocratic Hustle! I know that time is your most valuable resource so I really appreciate you spending some of it with me. If you enjoyed today's show, please share it! If you'd like to help me improve and grow the podcast, send your suggestions to: Carrie@HippocraticHustle.com Lastly, don't forget to subscribe to the podcast, so you won't miss an episode and give us a great review too!
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