This ONE mistake nearly cost my client over $600,000.
I get it. When you finally decide sumthing needs to be done about the hot mess that is your money, knowing where to start isn’t totally clear.
The search for a Financial Advisor can seem like a logical next step.
I seems to make sense.
Hire a pro, right!?
But that ONE SINGLE DECISION can end up costing you hundreds of thousands.
But the sneaky hidden truth about this industry is very different beneath the surface.
Managing Your Money Can’t be Outsourced
First, you’ve gotta learn how to manage your money yourself!
Advisors will NOT show you how to grow your biz, how to negotiate an epic raise, how to pitch your dream client.
They won't help you understand why you're overspending.
They won't address your limiting beliefs or help you clear your scarcity mindset.
They won’t show you these powerful levers you need to pull to increase the amount you have to invest.
The Hidden Truth About Advisory Fees
The second (and equally debilitating issue) is that their fees are misleading and can actually cut into up to 50% of your portfolio returns.
I can count on one hand the number of clients I've had who actually understand these fees.
Here's a real example of a client investing $1000/month who thought she’d done well.
She had a 1.5% from the advisor and thought 'well that doesn't seem like a lot'.
But it's not 1.5% of $1000.
Because of compound interest, the fees compound over time - the fees are exponential.
She was also paying a 2% fee for the mutual funds they invested her in. (mutual funds they often choose because they make more money on them)
CHECK THIS MIND BLOWING MATH.
So, if we play out the numbers, what would have been a $1.3M portfolio 30 years from now...
She heads into retirement with $688,000.
...over $600,000 of her portfolio has evaporated through fees.
Almost 50% of her investment returns!
Yikes, that's a loooot of money down the drain.
One more stat to keep in your back pocket: 85% of professionals fail to beat the average of the market.
That's right, 85% of the pros are actually doing worse than just buying the average return of the market as it goes up.
So they're swiping a big chunk of your returns and they're mostly doing worse than you would on your own.
Because people can't predict the future.
Selecting the winners and timing things correctly is only easy to do in retrospect.
And they don't necessarily know which stocks or investments are gonna do better than the others.
What Actually Makes You a Millionaire
You can make investments easily on your own.
Diversification. Long term thinking. Managing your psychology.
What's actually more profitable is the long term EASY strategies I teach in Women's Money Mastery.
Step 1: Make more money.
Step 2: Conscious spending to build overflow.
Step 3: Understand exactly where to put your money so it's growing.
I dive deep into this at my signature 12-week wealth transformation program.
If you're not on the waitlist for WMM, jump in here.
You'll be the first to hear when doors open.