How Billy saved $193,389.21 in advisor fees

I don’t want you to hate your financial advisor.

But did you know that over time a one percent fee cost you 28 percent of your investment returns? READ THAT AGAIN.?

The average person doesn’t know or understand how crushing these fees really are because the math is extremely counterintuitive. Our brain is wired to see big, immediate payouts. This is why we love tax refunds and buying a house for $500,000 and selling it for $800,000. But we’re not wired to understand phantom costs that add up: advisor fees, expense ratios, inflation, etc.?

One percent doesn’t seem like a lot, but it is crushing to your investment returns. Here’s a visual:

Or:

Investing on my own, I could get better returns and pay less.

And so could my student Billy who came across this exact scenario. His parents did the right thing and connected him with their financial advisor. The advisor helped him set up his Roth IRA and helped him start investing by putting his investments into the Growth Fund of America (a common mutual fund). All done! In about 10 minutes Billy was all set. All done!

In about 10 minutes Billy was good to go.

But what he didn't recognize is that the Growth Fund of America charges 61 basis points (.61%) and the advisor was charging the traditional one percent fee (100 basis points) to help Billy navigate the world of investing. Here’s the kicker: Billy hasn’t talked to this guy in years!

But how much would this 1.61 percent fee cost Billy over the long term?

Just take a look at the two visuals shown above and you tell me. By my estimates, the fees would have cost him roughly $193,389.21 over the course of thirty years. And over 50 years? $1,606.912.54. Yowza.

One percent can cost you 28 percent of your returns.

Two percent can cost you 63 percent of your returns.

This is unreal stuff.

It’s why Wall Street is so rich. It’s also why I insist you learn this for yourself (or find a financial advisor who charges a flat fee where fees don’t compound. IF I FIND OUT YOU'VE READ THIS AND CONTINUE TO PAY OVER ONE PERCENT IN FEES I'M GOING TO KILL YOU. Anyway, get smart. Take action. Think about the hundreds of thousands of dollars — even millions — that you can keep instead of paying some financial advisor. You might pay somebody to mow your lawn or clean your apartment. That’s great. But your money is different. Fees compound. The good news is you’re reading this right now and you can make adjustments.

Here are the takeaways:

1. The vast majority of people do not need a financial advisor.
2. Wealth managers and financial advisors know they cannot beat the market, so they focus on other ways they can “add value,” such as: “We can advise on taxes, wills, trusts, and insurance.” Or “Anybody can make money in a bull market. We’ll help you navigate the markets when times are tough.” All of these are legit — but none of them require exorbitant fees or commission-based advice. Plus, if you get skittish when the market goes down, I believe the better response is to develop the skills to stay resilient and focused. Avoid making decisions based on fear. Trust in your long-term plan and your financial system.
3. Once you have seven figures in assets, or complex transactions involving kids or retirement or taxes, you’ve earned the right to consider advanced advice. Hire a fee-only advisor for a few hours or structure the advisor's compensation so that you aren’t missing out on compound interest because of fees.

P.S. I created?How to Win the Game to Personal Finance?to help you level the playing field against these huge Wall Street firms, mindless investment blogs, and even your own money psychology.

• This is specific?— I've included exact concepts, strategies, frameworks, scripts, real-world examples, mindsets, and hard-won breakthroughs that you can use right now, in 2022.
• This is quick?— eight weeks with brand new material and bonuses that you can apply instantly. Take it at your own pace and revisit it whenever you want.
• And this is practical?— if you've already tried the treadmill of random hacks and "trying" and you want to focus on what truly works, How to Win the Game of Personal Finance gives you precise, actionable steps each week so you know exactly what to do. Plus, I'm there with you, every step of the way.

After going through this program, you'll be better prepared to manage your money better than 99 percent of?other people.

P.P.S.?The price is going up by one thousand dollars on Sunday, April 3rd, so get in now! As always, you're fully protected by my no BS 100 percent money-back guarantee. Click Here To Learn More