The traditional financial advisor model is broken.
Most advisors either earn commissions on products they sell (a conflict of interest), charge huge AUM fees (which are hidden & expensive), or both.
My friend Jeremy Schneider (@PersonalFinanceClub on Instagram) has made it his life's work to fix this problem. His company, Nectarine, is a platform for connecting U.S. consumers with real financial advisors.
Nectarine only accepts financial advisors who only charge a flat, transparent fee. Every advisor on Nectarine is a licensed, registered fiduciary who is hand-picked & fully vetted to ensure there aren't any conflicts of interest.
Fun fact: Less than 10% of advisors who apply to Nectarine are accepted.
I (Feroldi here) think Nectarine is a game-changer for people looking for real financial advice with no strings attached. Want to give it a try? Click the button below*.
Friends,
We get a lot of questions. Whether its on social media, in our premium community, or (rarely) in real life.
Often, people are looking for us to tell them what to do in their portfolios. That's a question we can't -- nor want to -- answer. Legal and ethical concerns aside, we'd much rather teach people to fish than do the fishing for them.
There is one question, however, which we can readily answer. It goes something like this:
"I bought stock XYZ, and it's down 30%. I don't think it's a winning company. Do you think it's a good idea to wait until it gets back to my purchase price and then sell?"
If the only reason you're holding onto a stock is to break even, we can unequivocally say that this is a bad idea. (It's called "anchoring bias")
Remember, the market doesn't care what price you paid for a stock. It only cares about the company's potential moving forward. Consider all of the other things you can do with that money:
Those are just three examples -- there are many more.
The root of this problem is simple: our ego gets hurt when we take a loss. But this is the difference between beginner and experienced investors.
Beginners can let a loss eat at them. Experienced investors know the long-term results of their entire portfolio -- and how those results help them lead the life they want to live -- are all that matter.
Stay focused on that, and you've tipped the scales in your long-term favor.
Wishing you continued investing success,
Inflation is inevitable. But there's nothing we can do about it, right? Not so fast! Ben Carlson, from Ritzhold Wealth Management, explains three of the best ways to hedge against inflation.
Ronald Read earned a below-average salary as a janitor and gas station attendant.
— TJ Terwilliger (@tj_terwilliger) December 2, 2024
He drove a second-hand car and chopped his own firewood.
When he passed away at age 92, he was one of the richest men in Vermont.
Here's his story: pic.twitter.com/q6Y6wWuMhO
Did you earn dividends this past year? Congratulations! But unfortunately, the downside is that you might also owe taxes. How much? It's not straightforward-- here's how dividends are taxed (in the US).