The 2023 BEST Question to ask a Financial Advisor: kzread.info/dash/bejne/apqKsNNtkbTdhqw.html Hey, I recently started a daily 2023 Financial Vlog - would like to invite you to follow along: kzread.info/dash/bejne/i6KO1Mpyidq0gdI.html - Kyle

This is great. Thanks

Thanks this is Beneficial for someone in my 30’s trying to be financially smart with my money.

I really appreciate you taking the time making this video to put these wonderful and critical questions together for the viewers I really like them thank you very much.

@Financial_Awareness

Жыл бұрын

@Greg b - Thank you, sir. Your comment inspired me to re-watch it myself (weird I know - lol)…gotta say, despite this video being 2+ years old these questions still haven’t gone out of style. Appreciate you taking the time to check out the channel. Hope you’re having an awesome start to your year. Cheers!

Definitely think speaking to a qualified advisor is the most important thing here! Thanks for sharing!

@Financial_Awareness

3 жыл бұрын

Free To Be - Thanks for taking the time to watch this video! Appreciate you. Curious question, what do you think it means to be a qualified advisor? Follow up, do you think people can learn to save & invest on their own without speaking with a qualified advisor?

Such a helpful video, thank you so much!!

@Financial_Awareness

Жыл бұрын

Thank you! Appreciate you, Miss May!

Great questions. Thank you for posting!

@Financial_Awareness

2 жыл бұрын

@Huschai Severe - My pleasure! Thanks for checking out the channel. Here's a video related to this one that I just posted...Do I Need a Financial Advisor: kzread.info/dash/bejne/dJmhq9ifibuwgtY.html Cheers!

Awesome content. I am binging on your videos now that I found your content

@Financial_Awareness

3 жыл бұрын

M Pow - Happy to hear it, boss! Appreciate the feedback. Always looking to improve and get better...if there’s anything you’d like to learn more about please let me know and I’ll throw it on my content calendar. I was an Advisor for 8+ years and am not looking to replace your current FA, but happy to help educate and share knowledge so you can make many wise financial decisions on your own without paying all the fees to an Advisor. They really do add up over time and if you put in the work/time to learn many of the planning concepts you’ll be well on your way to having a prosperous future. Appreciate you. 👍🏻👍🏻

appreciate you!!!!!

Wow, I started as financial advisor this year in Switzerland and I try to answer all these questions before the client has to ask, but number 9 is genious. ❤

Fantastic video! All the questions I need to ask. Thanks

As a new business owner and investor, this was so helpful! Thanks K

@Financial_Awareness

2 жыл бұрын

@Jessica Moore Ruhlin - Oh cool! Thank you for sharing that feedback...awesome! Appreciate you taking the time to invest in your financial knowledge and checking out the video/channel. Cheers, boss lady!

Great video with excellent points. Also, wonderful quality.

@Financial_Awareness

2 жыл бұрын

@Oechsli - Hey thank you so much for that feedback! Really appreciate it. If you liked this one you might like my most recent two videos about how financial advisors get paid...I go into a little more detail in those compared to this video. Great job by investing in yourself by watching this video...keep it up. Cheers, boss!

Great video! I am looking forward to be a financial advisor in the future so this is good information as a professional and as a customer

@Financial_Awareness

2 жыл бұрын

@Maria Elisa Gonzalez - Thanks! Congrats on taking the leap of faith and good luck building up your clientele. Take great case notes, put your clients’ needs above your own, don’t just recommend products that make you a commission, don’t be afraid to go over a budget with your clients, and if you charge an ongoing fee for AUM…make sure you’re delivering value each quarter because it’s easy to gain a new account, but harder to keep it long term. Hey, thanks for taking the time to check out this video and being part of the channel. Cheers boss lady!

This was excellent and very informative! Thank you!

@Financial_Awareness

2 жыл бұрын

@E Ow - Sweet! Glad you found a few financial nuggets in this one. Hope a few of the other vids within my content library are also helpful. Thank you for taking the time to check out this video...appreciate you, boss!

Thanks for advice it helped me

@Financial_Awareness

3 жыл бұрын

@Billie McBride - Awesome! Happy to hear that...appreciate you taking the time to check out the video...cheers boss lady!

Love this video! Full of great tips! Thanks so much and keep the videos coming well into the new year! New subscriber here!

@Financial_Awareness

3 жыл бұрын

Rich Beyond Our Means - Thank you! Glad you enjoyed the video...appreciate you for taking the time to watch! Yes, more vids coming. Looking forward to 2021! Enjoy your holiday! 😃👍🏻

@TucsonArizona

3 жыл бұрын

@@Financial_Awareness Yes, happy New Year! Looking forward to following your channel!

nice video, thanks for sharing!

Great video! Thank you!

@Financial_Awareness

3 жыл бұрын

@Linda Peplau - Thank you very much! I've got a follow up to this one in the works and should be posting it shortly. Appreciate you checking out the channel...hope there are other vids that are helpful for your financial decisions. Cheers!

Thank you for the advise!

@Financial_Awareness

5 ай бұрын

Thank you, Susan! Have a blessed day!

thank you

great video, thanks

@Financial_Awareness

Жыл бұрын

Thank you! My pleasure. Appreciate you taking the time to check it out.

Great video! I'm near to have the test to get certified as a finantial advisor and all this question clarify many topics for me

@Financial_Awareness

2 жыл бұрын

@Sthefany Robles - Congrats!!! Hope you serve your future clients well. Do you have a particular client or industry you plan to focus within to grow your clientele? Thanks for taking the time to check out the video. Cheers!

Your video topics are top tier I rarely see videos like this

@Financial_Awareness

3 жыл бұрын

Unorthodox Savings - Thanks man! Can’t reinvent the wheel, but it is fun to put our own spin on some of these personal finance topics. 👍🏻👍🏻

I feel the same way as S . Thank you for using understandable terms.

@Financial_Awareness

Жыл бұрын

My pleasure! That’s one of the most difficult things when learning more about personal finances for the first time…the new terminology and what it all means for your unique situation. Keep up the research and efforts to learn…you’ll be fine. 👍🏻

I am about to go into the final stages of my interview for the wealth management service, watching your videos were one of the reasons to push my down into that industry instead of FX Broking, thank you!

@Financial_Awareness

3 жыл бұрын

@Ben Shorthouse - Best of luck boss! Thanks for checking out the videos…cheers!

@quigonquinn4201

Жыл бұрын

@@Financial_Awareness &

How about, "what have been your average year over year net returns been for the last 10 years?" I wld think at the beginning of each year, i want to know: 1. What is the current balance? 2. What was my balance at the beginning of last year? 3. What has been the Gross ROI from last year? 4.What have been any distributions i have taken for the year? 5.What Fees have i paid to you for the year? 6. What are my net earnings for the previous year?

@muradshawar

Ай бұрын

Even better just buy Index funds and automate it buy every month for 40 years regardless of what the market is doing up down all around .

im going to have my first meeting with a cfp tomorrow and this video really helped! i would of never thought of asking any of these questions! I'm kind of nervous to be asking some of these but I really want to know if this guy will be able to help me, so I'm gonna try my best. thank you !

@Financial_Awareness

3 жыл бұрын

@gisselle palma - Good luck & hope your meeting goes well! Not sure what your specific situation is, but as someone that was a Financial Advisor for 8+ years (and knowing many CFP's as well)...I can tell you that if you're willing to learn a few new terms/words and take the time to invest in your financial literacy...I can tell you this stuff isn't rocket science and once you learn the basics of financial planning & automate your investing then many of this becomes easy to learn. Be mindful of what this new advisor recommends and do the research yourself before opening up new accounts, transferring assets, or buying insurance based products. Have a great meeting! Thanks for checking out the video...appreciate you! cheers!

Great video and some salient questions! What editor did you use to add the text to your video? Cheers

@Financial_Awareness

3 жыл бұрын

@Rhys Owen - Thanks! I edit using Videoleap and it’s simply one of their stock fonts for the text I add. Videoleap is an editing app for iPhone (I film in 4k at 30 fps from my iPhone & edit everything on my iPhone as well).

Mr Ramsey said in one of his videos if you feel like your working with a salesman then run!!!.He said they should teach you and guide also,not just take your money and not tell you where its going and why.

@Financial_Awareness

Жыл бұрын

@rayoalermo1603 - yup! Don’t think I would have had the success I did if I didn’t execute on those principles you mentioned. It was customary for my 60 min meetings to turn into 90 minute meetings because of education and explanation. Thanks for checking out this video! Hope there are others within my content library that are also of interest to you. Cheers!

I was with Edward Jones, they had me in 9 different funds. The average expense ratio was over 1% and they were all front-loaded fees. when asked what my investments were costing me, my advisor blow me off and continued to try and sell me her long-term care insurance.IMOP she was no fiduciary, just a salesperson trying to increase her bottom end.

@Financial_Awareness

2 жыл бұрын

@MrMaxamillion67 - Bingo! You might like my most recent two videos where I go into further detail about how financial advisors get paid...you hit the nail on the head! Huge difference between a fiduciary relationship vs a suitability relationship. IMO, if you do enough research and build your knowledge regarding investments and personal finance...you can build wealth very easily without needing to pay an advisor. Hope you've been doing well on your own since leaving them...which I assume you did after reading all your comment. Lol. Hey, appreciate you taking the time to check out this video...hope there are others within my content library that can help you on your financial journey. Cheers boss!

@Noah4evaa

Жыл бұрын

If I ask my advisor these questions he prolly gonna blow his top😂😮 wish I had known this beforehand

Love this and I’m going to save this for the future

@Financial_Awareness

2 жыл бұрын

@Edward Nava - Awesome! Glad it was helpful. If asked with the correct tone many of these questions should not be met with any resistance from the Financial Advisor. These questions should be welcomed by the Advisor as they are indications of you expressing interest - which to a seasoned Advisor is a 'buying signal' that the client is engaged and interested to speak further about giving the Advisor your business. All that said, as a Financial Advisor to retail investors for 8+ years I can tell you.......if you're willing to put in the time to learn/research many of these topics...you can do much of this yourself with quality performing mutual funds/ETFs/stocks with low fees and avoid working with an Advisor altogether. Just my two cents. Appreciate you checking out the video & channel, boss!

@edwardnava3554

2 жыл бұрын

@@Financial_Awareness thank you for the answer. If everything goes the way it seems it's going then my family and I need to know these things

@Financial_Awareness

2 жыл бұрын

@Edward Nava - Understood. Well, I'm happy for you and hope things shape up in the manner in which you are expecting. Feel welcome to hit me up if you have questions...happy to help if I can. Links in video descriptions. Cheers, boss!

fiduciary is such a fun word lol

i just found about you liked and subed keep it up

@Financial_Awareness

3 жыл бұрын

mr. finance - Thank you, boss! Appreciate you. 😃👍🏻👍🏻

@b12benboss99

3 жыл бұрын

Hi good night are taking clients?

@Financial_Awareness

3 жыл бұрын

@B12benboss - Check out the links in the descriptions of videos for ways to get in touch with me. Yes, I do work with individuals about their financial goals.

This is a great guide! I wish I’d found this years ago.

@Financial_Awareness

5 ай бұрын

Hey, we all start from somewhere. Very kind of you to share…thank you! Appreciate you taking the time to invest in yourself by watching finance vids on YT…good on you! Keep learning and you’re going to do even better! Cheers!

@jennifersmith4943

3 ай бұрын

What if my advisor is asking me to buy an annuity for “guaranteed income? I’ve heard this is a bad move from some people.

Great questions

@Financial_Awareness

Жыл бұрын

@hipstoosmooth - Thanks, I agree! Just made a refreshed 2023 version on the channel, would love for you to check that one out as well if you have the curiosity and time…it’s much shorter. kzread.info/dash/bejne/apqKsNNtkbTdhqw.html Appreciate you watching this one. Cheers!

So, here I am.. 62 years of age with a reasonable personal pension pot. Every time I speak with advisors about planning for my imminent retirement I am left with more doubt than confidence. I think one of my main worries is that this is a one time decision and if I get it wrong..... I am doomed. Also, once I have the time, I would like to be very involved in the type of investing moving forward. I just feel that the whole thing could go drastically wrong after 35 years of graft. Thoughts please. Dave.

@Financial_Awareness

2 жыл бұрын

@Dave Kelly - Hey Dave! Thanks for taking a moment to check out this video and the channel...appreciate you taking the time and also investing in your own personal financial knowledge. First thing to remind you about is....what you describe is normal. It's normal to worry about such a large & big financial decision. Best response I can share with you is....keep researching your options & keep learning more. Ask others in your industry or those that have already retired from your current employer...ask them what they are glad they did and what they regret. Also, in my local city/county there is a dedicated HR Benefits person that specifically meets with people such as yourself to help you make the correct financial decision. This person is a municipal employee and not a Financial Advisor - so although she isn't an expert in all this finance she is an expert in helping people figure out how to take their pension...soooo...see if there is a similar person in your municipality that can help that has no vested interest in your decision. At 62 you can select to take SS benefits early with a permanent reduction OR at your FRA (full retirement age) of 67 OR later up until 70 when I think you max out. So, you'll likely annuitize your pension in some capacity AND have SS benefits kicking in at some point....so what I would do if I were you is....do a budget. Sounds simple & it is. Start there...start with a budget and find out how much money you NEED and how much you WANT each month during retirement...then figure out how much you could potentially get from SS and how much from your pension...this will then result in telling you how much more you'll need to liquidate from other retirement account sources. I've got a video that outlines how to create your very own custom retirement plan...have a look at that and do the exercise from the video. This should help you a little more. You will likely continue to second guess your thoughts/decision until you either: 1). have enough information to make an educated & informed decision OR 2). learn just to live with whatever decision you make. We are creatures that adapt well to our new surroundings...so no matter what you chose I'm sure you'll adapt and will be ok. I'm sorry to hear that after speaking with advisors you're left feeling more confused than empowered...that is weird and very frustrating...could just mean that you met with the wrong people...I don't know. Keep learning and keep researching...if you do then I feel confident you'll end up making the right decision. Because after all...your retirement quality if life depends on it...so I'm sure you'll give this topic as much focus as you can. Let me know if I can help at all. Cheers, boss!

Yesterday I had my zoom meeting with my FA thank you for making this very informative videos. I did ask some of the suggested questions. We are 51 my wife and I and want to retire from our own business in 6 years any suggestions for us will be appreciate

@Financial_Awareness

3 жыл бұрын

@Diana Castellon - Hi there! Thank you for sharing your thoughts/feedback...glad this video helped you prepare for your meeting. Congrats on setting your retirement goal 6 years from now...sweet! Without knowing anything about you other than what you shared I'll simply add that NOW is the time to start to think about your exit strategy from your business. Many small business owners take advantage of every write off possible...however, since you have a 5-6 year runway of time you may want to consider showing less write offs and business deductions so that your business appears more profitable on paper...which will allow you to get a larger purchase price for your business. Other than that....just keep living below your means, save what you can, invest what you can, pay off your debts so you can coast into retirement debt free, and continue learning as much as you can so that you feel more comfortable and in control of your finances as you enter retirement. Hope some of that was helpful. Thanks for checking out the video & channel! Cheers!

Please tell me what you think about the Edelman Engine vs my local Ameriprise Finacial adviser

I almost NEVER make a comment on YT... I suppose you could call me a frequent "Silent Consumer" of YT. With that said, I am compelled to say this is EXCELLENT information and actual contains questions that I will use. Your content in this video far exceeded my expectations - especially compared to other ones I have recently watched.

@Financial_Awareness

5 ай бұрын

As a silent consumer myself, I can completely relate with this take. Knowing this makes your comment more valuable and I appreciate you having the courage to share. IMO, silent consumers don’t vote every 2-4 years for state/national elections; we vote with our wallet & with our time…and I’m grateful for your time watching some of my content library. Not every vid is a banger, but even a broken clock is right twice/day. lol. Appreciate you. Cheers!

It was really helpful and interesting video. I am also planning to start my Financial Advisor career what would you advise me? Thank you!

8:52 “financial planning plus more fees” was better, lol

I recommend this Johnny Sins guy as my financial advisor.

@Financial_Awareness

2 жыл бұрын

@Big Neuton - He’s the best cousin a guy could ask for! So many great stories. Lol

In hiring an investment advisor which one would you choose, one within the brokerage i.e. Fidelity, Schwab or one outside of the firm. By the way great video.

Damn That was helpful. I have my first meeting with an FA tomorrow and my proposed questions had more to do with signing a contract between us. I feel clear on how to proceed now. BUT is it common to sign a working agreement between the 2 parties with the answers to the questions, you proposed as the body of the "contract"'?

@Financial_Awareness

2 жыл бұрын

@E M - I’ve never heard of such a contract as to what you’re referring to. In my past, back when I was growing my AUM & taking on clients as their fiduciary (ongoing annual investment fees) yes, there would be a contract…but it was very standard and did not allow for any additional comments/questions. So not sure what to reply with about that. However, I’m pumped up to hear that you got some good value out of this video. Awesome! Just remember, it’s ok to work with a Financial Advisor…I’ve got not issues with that, but I will say…financial planning isn’t rocket science and I truly believe that most people can figure out how to get to retirement without paying hundreds of thousands of dollars in advisory fees over decades. Get as much info/education as you can for maybe a year or two…then consider doing more on your own. Chances are strong that after you hand your accounts over to this advisor…the level of engagement with them will slow…because they’ll have your money and the “sales” calls will slow down to a screeching halt. Lol. If you focus on continuous learning and understand the basics…you could prob do all this on your own. Check out my video that has the one dollar bill on the thumbnail…retirement made easy I think it says on the thumbnail…that is a pretty straight forward vid about how to make your own retirement financial plan. You’ve got this!!! Thanks for taking the time to check out the video and channel. Cheers boss!

When applying for a mortgage loan. Is it best to have multiple credit cards with no balances (paid in full each month, under 10% utilization) or only 2 credits open. Does having multiple credit cards (5) make you a liability even though you don’t carry a balance?

@Financial_Awareness

3 жыл бұрын

@Rebeca Esquivel - Great question! In my opinion, from a credit score optimization standpoint, it’s better to have history of multiple types of credit as opposed to multiple credit cards. For example, credit cards are a type of “revolving” credit because there is no fixed payment as opposed to “installment” credit which has a fixed payment (car loan, student loan, mortgage, etc). What helped us get closer to 800+ years ago was keeping our oldest credit card or two and increasing the line of credit on those while having a healthy mixture of different types of credit. What ultimately got us to 840+ was finally switching from a credit card to a charge card. All that said though, your credit score is not a reflection of your net worth...it is merely a reflection of how good people are at paying back their debts. I would encourage you/people to build good credit, but to focus on increasing your net worth as a higher priority and to track that number monthly. Hey, I appreciate you taking the time to check out the video! Cheers!

Great video! I recently declined my advisors because they didn't respect my request to not upsell their insurance, they also were filling in forms for me over Zoom pressuring me to sign, and when I refused sending it to my email with a time cap. Even if you know nothing, please go in with full confidence and YOU call the shots, this is your money that THEY need not the other way around. There's no time limit on learning, you do things when you are ready and if the vibes are off do not be afraid to make them just as uncomfortable as they make you with their pitches and say "You're not a fit". It will be awkward but hey, I'd rather have that awkward 5 minutes over years of dodging sales calls. You have wealth to build not other mouths to feed. My advisors said I wasted their time, and that response only told me they didn't value me and saw me as a sale, not a person, our time is of equal importance. Had they kept their greedy mouths shut they would have had me for life, some people tell on themselves when you let them ramble.

How do I find out if my financial planner is in a lot of debt?

Another top notch video. Are you an American shs because you are A+

@Financial_Awareness

Жыл бұрын

Thank you! I am a proud 2nd gen American on my mom’s side. My mother was first of her fam to be born in Pennsylvania. Grandfather left Germany, moved to America, did 3 years in the Army to become a citizen…they left a legacy of 12 grandkids and I’m blessed to be one of them.

Thank you so much for the explanations. Would you mind explaining the all-in costs with an example? Eg: my asset is 100$, does the cost per year increase each year if I stay with the same advisor? I am somewhat confused with this point. I do apologize bugging you again. Thanks!

@Financial_Awareness

3 жыл бұрын

@Amrita DeSarkar - Thank you for your comment and idea....will definitely throw this on my content calendar for a future video. Your all-in costs will depend on the nature of how you & your advisor decided to structure your account and your relationship together regarding your account. If you and your advisor agree to a fiduciary type of relationship where he/she receives a % of your account balance then yes...1% of $100k is less than 1% of $150k...so your advisor makes more money as your account grows in value - and vice versa if your account drops in value due to overall market conditions or the selections your advisor chose for you in whatever cookie-cutter package they've presented to you. Additionally, if you invested $1M with your advisor then your "1%" fee will likely be less, however, most brokers/institutions charge a fee for the first $100k, first $500k, etc...and the fee gets smaller the higher the account balance gets...but that first $100k is still being charged a higher fee than the next $400k in your account. Hope that helps a little. Thanks for taking the time to check out the video! Appreciate you, boss!

@amritadesarkar3052

3 жыл бұрын

@@Financial_Awareness thank you so much for taking the time to explain it. I will wait for your episode on this topic as well. Cheers!

@Financial_Awareness

2 жыл бұрын

@Amrita DeSarkar - I still plan on making the video we discussed months ago, but this one is relevant and just posted it today...Do I Need a Financial Advisor: kzread.info/dash/bejne/dJmhq9ifibuwgtY.html

@amritadesarkar3052

2 жыл бұрын

@@Financial_Awareness thank you very much. I will go through it and get back to you with questions. Sincere thanks! I haven’t gone through this video again, but I remember quite a bit of the content. It was enlightening and engaging.

What’s the best high yield type of account to start for my kids?

@Financial_Awareness

3 жыл бұрын

@Danielle Dewittie - Hey, thanks for taking the time to check out this video. I’ve actually got a video coming out soon about “saving for kids” / college planning / stuff like that. There’s lots of options/ways to do it and we started with funding 529 plans for each of our daughters. Pro’s and cons to each option and we do anticipate them going to college to truly benefit from that type of account, but there other options that I’ll go over in that video. Appreciate you! Cheers!

I appreciate all the information you provided. I am going to use your ideas when I contact my current advisor through Fidelity. I plan to ask these questions offered. I have an advisor & an account manager who does the “ leg work” in trading funds. I am thinking that I am going to ask these questions you shared on the video, and have been thinking of backing away from they being paid .9%, to self manage my account with occasional advice as needed, and expect some fees accordingly. Any suggestions about my situation? Thank you!

@Financial_Awareness

2 ай бұрын

Take it slow. Bite sizes. If you focus on the process then the results will come. Focus on learning over time. As a process, take time to learn something new each week or month until you feel more comfortable. I’m in my early 40’s now and love learning new stuff and plan on making it a lifelong journey to keep tinkering with financial plans and investment selection. Hey, it’s your own money! You’ll take good care of it because it means more to you than anyone else. Good luck! Thanks for checking out this video. Cheers!

Good advise, but not sure they'd answer honestly on some of these questions. LOL

I need to know if a NY estate employee dies after over 15 years of service but he didn’t retire yet, would all his state compensation and entitlement such as life insurance, retroactively paid salaries, intensives and 401k go to the related investment company that his work “state” uses and not to his heirs or only 401k amount go to the investing financial compact?

@Financial_Awareness

2 жыл бұрын

@Laila Abdalla - Hey there - thanks for taking the time to watch this video and check out the channel...appreciate you! I'm sorry to hear of your loss. My heart goes out to you during these tough times. Here's what I can share with you: Life Insurance Policies have a beneficiary that will be paid out the life insurance proceeds - so that should already be on file and you simply need to file the paperwork for the beneficiary to receive those death benefit proceeds. For other life insurance policies that this individual owns you need to make sure the premium still get's paid (so the policies do not lapse coverage) and will likely need to provide a death certificate to transfer ownership of those other policies. Also, the 401k should have a beneficiary as well that will inherit the account - same with other retirement accounts - there should be an account beneficiary noted on file. Regarding your other questions, I would suggest you call the Human Resources Department for the State of NY - for the department that you loved one worked for...and ask them what the process is of claiming any/all work-related benefits. I feel quite certain in saying that you'll need to be sharing the Death Certificate with many companies that your loved one was associated with. Your question wasn't worded very clear - so I hope I answered your questions, but if not please feel welcome to respond and I'll try my best to reply and provide more info if needed. Hope you get through this stronger than you were before and that you can navigate through all the paperwork & finances easily. Will be praying for you. Cheers.

So when should I hire a a financial planner? if I have a 50k and I want To get into investments is that something I should look into

@Financial_Awareness

2 жыл бұрын

@Bakedcoolmom - Hi there! Saw your comment, but wanted to hold off responding until publishing my latest video. Do you need a Financial Advisor: kzread.info/dash/bejne/dJmhq9ifibuwgtY.html I am not sure about the specifics of your situation, but speaking in general terms...nope...I don't think you need to hire or work with a Financial Advisor in order for you to be able to properly invest this $50k OR to develop a retirement plan for that matter. There's so much information on the internet and on KZread for you to be able to figure it all out on your own. If it feels overwhelming, just take your time...don't let it get you stressed out. One day at a time...one bite at a time...no matter your pace just be patient, take your time, and know that it's going to be ok. If you watch any of my videos please feel welcome to comment with a question and I'll do my best to help out. It's not hard...it just might be new to you...but you can do it! Hey, you're a cool mom...so thank for taking the time to check out this video and my channel. Cheers boss lady!

THANKS. Just what I needed to watch. My wife and I are administrators of our farming business and our own properties, as well as small pensions. am almost 56, my Wife is 52. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn passive income online and retire comfortably let's say 3 million bucks.

@d.i.yinvesting7678

5 ай бұрын

Considering financial plan

@jeroldstokes6065

5 ай бұрын

It really isn't about how much you save, it's about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your timing.

@jeffclifford5731

5 ай бұрын

I totally agree, I'm 50 and just retired with about a million in outside retirement funds, no debts and very small dollars in retirement funds compared to my balance of portfolio over the past 3 years to date. tbh, the role of an invt-advisor can only be overlooked, not denied. Just do your research to find a reputable one.

@myfx2551

5 ай бұрын

This is exactly how I wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?

@jeffclifford5731

5 ай бұрын

"Laura Gilbert CFA" maintains an online presence. Just make a simple search for her name online.

I just turned 31 this year and I started investing last year. Even though I am a CPA, I found out that I am not very good at investing in the stocks market. Now I want to find someone who can manage my retirement account before l lose all my money. I have a decent salary and have saved some over the years, but it is not too much comparing with the CEOs or business owners. Do you think i need a financial advisor? And will them take me seriously because of my relatively low net-worth?

@Financial_Awareness

2 жыл бұрын

@Lucy - Thank you for having the courage to share your comment. I'm planning on making a video response to your question and will post the link to the video on this comment thread after the video has been uploaded. My short answer: if you have the time to invest in your financial knowledge then I believe in you and I believe many like you will learn enough terminology/investment information to confidently save/invest for your retirement. YOU GOT THIS!!! How do you eat an elephant?

@Lucy-oz5kt

2 жыл бұрын

@@Financial_Awareness I look forward to your new video!

@Financial_Awareness

2 жыл бұрын

@Lucy - THANK YOU for your comment & being willing to share a little bit about yourself...it inspired me to make this video...Do I Need a Financial Advisor: kzread.info/dash/bejne/dJmhq9ifibuwgtY.html Hope you have been doing well! I wish you the best of luck on your financial journey. Let me know if you have questions...will help if I can. Thanks...cheers boss lady!

@paulinescholes6797

2 жыл бұрын

Hey, I was in a similar position about a year ago. You can look up Nancy Lynn Lewis. She's very good and beginner friendly

@jdceja8119

2 жыл бұрын

Yes, you should definitely consult with a financial advisor. But you should find the right fit relationship and fiduciary wise. Financial Advisors do not help with constructing well-rounded investment portfolios but also make sure you're allocating the right amount of money to achieve the financial goals you have in mind along with retirement(both short and long-term goals). There is more to investment management that goes with a financial advisor but that is definitely a large component.

This to me is a little scary only bc I'm 35 years old I'm in recovery trying to turn my life around, I got a good job now and I have to start learning about this in order to have a good future for myself and my family if I'm lucky enough to start one down the road. Super nervous I'm not smart enough to understand the best ways to manage money 😕 If anyone out there has some advice I'm definitely listening thanks KZread

@Financial_Awareness

2 жыл бұрын

@Ryan Clark - Hey man, thanks for taking the time to check out this video. Congrats on being in recovery! Awesome - very proud of you. You know, this topic (financial planning / investments) is not much different then your recovery…meaning…each day you spend/make money & each day you have to fight your urge to grab a drink. It’s a daily effort is my point. If you can, daily, focus on spending less than you make, maybe read one article a day or watch one 8-10 min YT vid…and then compound those efforts over a few months…you WILL BE 100% times smarter about personal finance than you were before you started this learning journey. As an Advisor of 8+ years I can tell you first hand…it’s not that hard. Yes, it can be complicated and complex, but the big-picture stuff you can easily learn and figure out. If you read a word and don’t know what it means, just look it up on Investopedia’s website and just focus on continuous learning. Feel welcome to comment on any video of mine you watch and I’ll do my best to reply in a timely manner…I’m a little behind at the moment with about 20-25 comments I need to respond to, but I’m usually pretty good about responding. If you want dedicated 1-on-1 you’re welcome to check out the descriptions of any video to reach me that way as well. You got this man! You can do it! Will help if I can. Appreciate you taking the time to check out this video and being part of the channel. Cheers boss!

@JanGlow

4 ай бұрын

You don’t have to be super smart, just stay consistent

Do I need to ask all these questions when I'm going with a financial institution

@Financial_Awareness

3 жыл бұрын

@sheila wilder - No you do not. Some are better questions to ask over others and I would suggest deciding which questions you value enough to want answers to and ask those questions. Building a relationship is important, trusting your advisor is important, but do not blindly agree to all recommendations without having proper time to consider your options. Be kind and graceful, but ask for time to research their recommendations and just know that you don’t have to agree and say yes to everything. Lastly, coming from my perspective of being a Financial Advisor for a while (8+ years) I can tell you that many things the common advisor does for the common client...are things you can learn on your own without paying large investment fees/commissions. Just my opinion.

Good morning! Can I ask you one question? Why are you no longer an "active full time financial advisor"?

@Financial_Awareness

Жыл бұрын

@LA Rams Forever - Great question! Will try to keep this short, but there was A LOT that went into my decision. Short answer - I voluntarily walked away due to no longer wanting to be in sales...because that's what 95% of FA's are...sales people that talk personal finance all day. Longer answer - it was a strategic decision that was timed perfectly with my wife becoming the breadwinner after a 5-year sacrifice that paid off for us. Everyone in my firm thought I was nuts for leaving - I was well respected and had a very clear path forward for a 30+ year career wearing suits and sitting in an office...and I was pretty good at it...put the clients' needs above my own - took / made less money so each client could get an improved return - set expectations very well for market turbulence - was great at building relationships. Was in the Top 2% of advisors within our firm one year...it was a great career and I learned a lot for the 8+ years I did it...but again...just got tired of the daily 'sales' component of the career and wanted to be challenged differently. This is officially the 2nd time I've voluntarily walked away from a 6-figure job/income to go do something different...so yes, it was radical for me, but it was strategic and wasn't the first time I had made such a drastic career decision. It's been over two years now and I remain extremely happy with my decision. Took me a year to detox from the 'sales' mentality...lol. Anyway, sorry for the rant, but there were many factors that went into this decision. Wasn't a simple decision.

Great video, this was really helpful! I gotta say the comment about "would you take health advice from someone whose big?" Doesn't feel like a thurough analogy. I've been thin most of my life but I'm out out of breath when I run and can eat virtually anything 😅 No one would bat an eye if I gave health advice. Then you've got people who are bigger that eat well, and power lift. When having discretion about taking tips it's important to look at how people live their life, not just their appearance 👍🏽

@Financial_Awareness

Жыл бұрын

@priscillareviews4847 - Thanks! You are 100% right about it not being a perfect analogy...I believe you might be confusing my personal definition of "someone who's big" with "someone that is intentionally muscular and/or big boned"...in the spirit of common sense I was and am referring to an individual that is large-enough that any normal person would be able to simply look at them and think, "they don't look healthy, I would not take diet advice from them." If someone is a powerlifter they do not look like someone who is 325+ lbs. Sorry if that wasn't clear enough! Really appreciate you checking out the video...hope you found a nugget or two as positive takeaways. Cheers!

How he gets paid? Fiduciary? All in cost over the years? What services they provide? His qualifications? Why they choose this job? How will the relationship work? How often u communicate? Why did his last 2 clients leave him? What happens when we stop working together?

Financial advice ? Im British living in Spain with lots of investments in uk.i also just turned 65. Im still waiting for my pensions to be accessible to me!! I only work about 3 months a year. My life in Spain is very cheap. What should i do??

Thanks for the video! Question: How long should I remain or part ways with a financial investor if I am losing money, not really understanding the advise, or overall feeling like I am paying out more money to their fees than I am actually making? Thanks in advance!

@Financial_Awareness

Жыл бұрын

Tough call. You’ll have to first look in the mirror and be truthful to yourself…have you shared any of your frustrations with your FA? If not, perhaps give them a chance to correct the situation. However, if you feel your money would be moving up and down based on the ETFs and MFs they put you in regardless the if they were there or not…then I’d say it’s time for you to get serious about taking control. Don’t overreact and go hog wild…just slowly learn at your own pace (however fast/slow that may be) and begin to find out what you would do differently or the same if you opened up all new accounts and simply transferred the funds over yourself. If you go this route then you may only need advice during unique times in your life vs paying a fee every quarter for the next 30 years. Build up your confidence…then take action, but be truthful first and see if they do any better educating you or justifying the fees. Sorry you’re feeling this way…sounds frustrating. I was never a successful advisor because I spent too much time educating people and helping them pay off debt vs prospecting up for the big fish. Plenty of FAs made more $ than me. Lol. It wasn’t uncommon for me to have a 90 min initial meeting followed up by another lengthy 2nd meeting…instead of going an inch deep and a mile wide I went a mile deep and an inch wide. Good FAs are like financial therapists. Lol ok, gotta go. Good luck!

@sounddoctrine6159

Жыл бұрын

@@Financial_Awareness Thank you that was helpful. I have expressed my concerns and I get mostly excuses and don't worry etc., kind of talking as they collect and I am losing money. I understand margins and loss, but the lack of concrete reasons for my questions are concerning. Sounds like you had a good thing going lol! I hate that you quit. Thanks!

Question: we are about to sell our home and with that should we pay cash for another home or pay off 50k credit card debt and finance about 100k with a large down pmt?

@Financial_Awareness

2 жыл бұрын

@AJ DelaCruz - What's up, AJ! Congrats on successfully selling your home and being able to make some wise financial decisions with the proceeds! Very happy for y'all and am honored you reached out with a question. Here are my thoughts... Under the assumption that your credit card interest rates are significantly higher than current 15 or 30 year mortgage rates, I would encourage you to strongly consider paying off the $50k of credit card debt instead of paying cash for your next home. If you're following the Dave Ramsey Baby Steps, then you would want to make sure that you pay off all your debt (student loans, car loans, etc) and not just your credit card debt with these proceeds. In the world of personal finance you'll find a slew of opinions regarding whether or not to pay off all the other debt mentioned or to use that money for other investments OR a larger down payment on your next home. Without knowing you or your personal financial situation I'll simply say that you should make those decisions based on what you feel is in your best interest for you/your family. Assuming you have no other debt other than the $50k you mentioned then, personally speaking, I'd get rid of the $50k, throw $10k-$20k into an investment account, put down 20% or more on your next home purchase, and use the rest as a starter-down-payment-fund for an investment real estate purchase....basically a little bit of everything...paying down debt, investing some, using some for next house, and also saving the rest for future investment property purchase. Food for thought. Hope that response gives you something to marinate on as you weigh your options. Hit me up if you have more questions. Appreciate you, boss! Cheers!

@ajd.804

2 жыл бұрын

Well I’m 54 and don’t really want to finance a large amount on a mortgage. Aside from that we have a pretty good retirement set up and no car payments.

@Financial_Awareness

2 жыл бұрын

@@ajd.804 - Understood. Well, given that new information (your age & no-to-low mortgage balance goal) then I would still pay off the $50k credit card debt and throw the rest (or almost all of it) towards next house down payment so you hit your low mortgage balance goal. Additionally, another item to consider for your new home/mortgage....consider a 10 or 15 year mortgage and pay it off by age 60 OR have it paid off by the time you plan to retire and/or by the time you anticipate collecting social security. Lastly...just a little bit of tough love here...if you accumulated the $50k credit card debt via medical bills or due to some unforeseen circumstance, then I understand...but it you accumulated that much credit card debt from behavioral purchases & overspending then just make sure you don't repeat those behaviors/purchases as you enter retirement...because as you would likely agree, you can't keep using housing value increases to pay off large credit card balances. Seems like you're on a great path though, AJ and I'm super happy for you to glide into retirement smoothly and with some nice financial comforts. Job well done, sir!

@ajd.804

2 жыл бұрын

@@Financial_Awareness the majority of the cc debt was to renovate this home. No not typical bad spending habits thankfully. The Austin Tx mkt is so good that we felt it was a good time to take advantage of increase in prices. Thanks so much for your advice.

@Financial_Awareness

2 жыл бұрын

@@ajd.804 - Love it man! What a great ROI on that additions/updates you made to the house...very nice! ...my pleasure...happy to help where I can.

My financial advisor stopped the every 6 months calls once I transferred my old 403b over to them. Haven't heard from him in like a year. Hasn't answered my last text from like weeks ago.

@Financial_Awareness

Жыл бұрын

That doesn’t sound good. Very sorry to hear that. What do you think you’ll do from here? Take this as a sign do learn more and take over yourself or can the relationship be mended?

@michaelcarter266

Жыл бұрын

​@@Financial_Awareness Well I have some questions I plan on asking him first. I do feel like if I had to I can open a roth ira with fidelity, transfer it over and manage it myself. My financial advisor is actually a wealth manager so part of me wants to keep my roth with him incase someone tries to sue me I could at least have someone in my corner. I have professional liability insurance and umbrella insurance. My retirement account with him was charged 267.16 in management fees in the past year and there is 17k in my account. The gains from interest were 807.39.

It seems like there is alot missing here... like in depth questions on actual mutual funds (i.e strategies, etc). But what do I know I'm sure I'll be "attacked" with an answer though............

@Financial_Awareness

2 жыл бұрын

@James Jazzy - Attacked? Lol. 😂😂😂 I don’t think this particular topic generates that kind of heated emotional debate as you’re assuming. Haha! Nah man, it’s all good. No beef here. You def make a good point…I guess my response would be that if I had wanted to come up with “20 questions” to ask then I would have gone into more detail as you mentioned…but I wanted to keep this vid shorter so all 10 could be watched vs making it 20 questions, but then people only stick around and listen to the first 8 then clicking off. 🤷🏼‍♂️ What would be a few other questions you think would be worth asking?

I have just found out that every month my contribution of $1,000 to my Sep IRA will be deducted $35 from it. Is the amount sounds reasonable ? I have been thinking of taking care of my investment myself, to save all the fees and cost … but I don’t know how to start the transition? I don’t know who to trust, because I trust almost everybody who I have consultation with. They all have their own products and their products are always better than others. Please help. 😁

Fiduciary

Okay I am 18 yrs old and I just want to know how to use stocks and how it works. Do I really need a financial advisor or I can just learn it somewhere on my own. I would thank you if you respond.

@Financial_Awareness

3 жыл бұрын

@AYE_YO_JP - Congrats on getting started with your financial goals at age 18! That’s awesome and I’m super happy for you. No, you do not need to use a financial advisor. Creating a financial plan and deciding on what to invest in is quite simple...the more you’ll learn the more complex you can get with what you invest in and how to maybe go from a 6-7% rate of return to a bigger rate of return by taking an active approach to when you buy & sell, but overall just start off by picking some low cost index funds and dollar cost average each month. Then, as your knowledge grows you can fine-tune and tweak your investments over time. Live below your income, pay off debt, save for a rainy day, develop a financial plan, and then...rinse and repeat. Easy-peasy boss! Hey, I appreciate you taking the time to check out the video and invest in yourself by watching / learning. Good job and keep it up!

im to shy to ask this stuff lol

@Financial_Awareness

3 жыл бұрын

@Jaylen Lenear - Hi there! Don't worry too much about asking all these questions...just pick a few that are important/meaningful to you and ask those. If you're nervous to ask then....try rehearsing your tone/words in the parking lot before going into the building/meeting...you could also just type them up and read them directly off the paper (not a bad idea)....however....MOST importantly... ....I'd preface your questions with honesty and just tell the Advisor you're meeting with something along the lines of, "Ok, so I'm curious to learn more and had a few questions that a friend of mine told me I should ask...and I wrote them down so I wouldn't forget them...would you mind if I asked you a few questions before we move forward with moving my money around so that I have time to research and marinate on your recommendations?" Hope that's helpful and that you have more confidence going into your next meeting with your Advisor. Thanks for checking out the video...if you watch others on my channel please feel welcome to drop me a question and I'll do my best to reply. Thanks, boss!

@jaylenlenear3944

3 жыл бұрын

@@Financial_Awareness thanks man !

Just one thing to say to a financial advisor. “You’re fired!” They are all crooks.

And whats stoping them from just lieing to your face?

@Financial_Awareness

Жыл бұрын

@l33tninja1 - Good question. I'd say this is up to your ability to read through people's BS and see if they are being authentic or just "saying it for show." The better your BS radar the better. Hey, I recently started uploading daily videos...shorter and more of a 'financial advisor vlog style' ...let me know if you like them different from some of my older content. Appreciate you!

Those are questions a very ignorant investor with $2000 to put to work would ask. Sure I have a series 65 like all advisors so yes, I'm a fiduciary. Is that true? Would you ask a realtor what the "all in costs" are of a house you have never seen? How in God's green earth would we know your "all in costs" until we know how we're going to manage your investments? If you lead with those 3 questions I'm gonna hand you off to an intern or a house account. Sorry but 3 is all I can take.

@Financial_Awareness

Жыл бұрын

Sup, Brian! Thanks for checking out this video man! Appreciate you taking the time. Yeah so back when I had my real estate license there was this thing called a HUD statement that was provided to the client at the closing table…2-3 days prior to actually. Within the “closing docs” of the HUD statement are other docs like fair credit lending act type stuff…and in there loan borrowers have to acknowledge the “all-in” costs of the mortgage. Between that language and the realtor helping for a one-time commission (if they use a realtor) can share with them other “all-in” costs that come with homeownership…many of which turn out to be common sense things like buying appliances when the current ones stop working, unless something major happens that is unexpected…this FUD can be countered simply by having an emergency fund as you know. Because you’re smart. For any advisor such as yourself, the all-in costs are quite simple…you just use a hypothetical growth rate based on the client not making any additional contributions to the account in which you are a fiduciary over…then do the same equation again, but reduce it by your fee…bingo. There’s one way to discuss the “all-in” costs…if you’re smart, you’d use this as an opportunity with your clients instead of a problem with your potential clients that you would have off. If you provide more value than you charge in a fee, then you wouldn’t have made this comment and your confidence would have spoken for itself. I do appreciate your honesty though. Cheers!

Yeah right, 🙄 like they are going to sit and participate in your interrogation.

1. How do you get paid? 2. Are you a fiduciary? (Fees ongoing) 3. What are my all-in costs? 4. What services do you provide?

@Financial_Awareness

2 жыл бұрын

@Sara Beth Mattis - There you go! Great questions. Hope the video was helpful for you. Cheers boss lady!

Can you say Vanguard?

@Financial_Awareness

5 ай бұрын

Vanguard.

How do you post something two years ago and call it 2023?

@Financial_Awareness

Жыл бұрын

Def don’t do it with all my vids for sure, but I re-watched this vid and realized there was nothing time sensitive about these questions. So yeah, I edited the title to help seo …not sure the year really matters given the content, but that’s why I did it. Other YT’ers in this niche do it as well…I’ve seen them…it’s mainly with content found via “search” Which of these questions are no longer relevant to ask a current or prospective financial advisor from a client? Just curious. Hey, thanks for checking out the vid! I need to make more videos…it’s the editing that dragged me away. Lol.

Does a financial advisor invest my money immediately or does he wait until there is a downturn in the market?

@Financial_Awareness

3 жыл бұрын

@MA820 GUY - Depends on what you agree to. I'd say that most Advisors that work with retail investors (like you) will not advise you/them to try and 'time the market' by waiting for a downturn. Back when I was an Advisor, I had a several clients that were able to grow their income and grow their savings rate during our financial planning relationship...and with those clients we would dollar cost average into their investment accounts each month (in addition to what they were already doing), but we would withhold investing ALL of their monthly contributions into their investment account and we would keep some in cash to invest during a downturn or market correction. As an example, if someone is maxing out their Roth IRA at $500/month...which would not be their only investment account they were contributing to...then we would contribute $500 into the account, but only invest $400 on a dollar cost average basis....then there would be $100/month of cash growing each month...which would then be investing on a down market day or correction. Hope that response helps give you perspective. Don't overthink it too much...dollar cost average works! Then, as your investment knowledge grows and you learn how to read charts and other analytics then with a small amount of your wealth/money "buy/invest on red days" so to speak. Cheers!

Stay away from them, when they was a percentage.

Jhony sins

@Financial_Awareness

2 жыл бұрын

@Diego Rendon - that dude is a beast and in way better shape than me...LOL. Taken as a compliment - so thanks! haha

Anyone putting you in A shares and selling you insurance is ripping you off

So you state that you are not an advisor anymore .have you done ok for yourself over the past ten years .I know that covid hit alot of people in the wallet and the average investor lost about 23 percent.

@Financial_Awareness

Жыл бұрын

@rayoalermo1603 - Hey Ray! Thanks for checking out this video. Yes, we’ve done well over the past 10 years. There are several reasons as to why that is a fact and not an opinion and I discuss it a little between these two vids: Our journey: kzread.info/dash/bejne/fGusz8-vhKTTo5s.html Accountability: kzread.info/dash/bejne/pWun0bBxnZjQgso.html Thanks for being part of the channel! Cheers

Are you sure we should really ask these questions bro???

@Financial_Awareness

5 ай бұрын

Yes. But don’t be rude about it. Find the appropriate time in the convo/meetings and ask them, but def ask! I told every client they could ask me anything about my financial plan…only a handful ever did and I never understood why. I would not take diet advice from someone over 300 lbs…why people take financial advice from broke FA’s is beyond me. 🤷🏼‍♂️ Haters will say “if the advice is good then it doesn’t matter if the FA is broke.” 😂😂😂

ligma

If you have a financial advisor you are getting screwed

I don't know why anybody would ever pay for a financial advisor.. unless you're making like 10 million a year or something. It's so easy to manage your own money

@Financial_Awareness

Жыл бұрын

@sonderevokingbuns - You're not wrong. Your response (in some ways) answers one of the reasons why I left the traditional 'financial advisor' career path. Just started uploading fresh content again and I spoke about my 3 careers & our financial journey. Just in case you're interested: kzread.info/dash/bejne/fGusz8-vhKTTo5s.html Cheers!

Fiduciary my a$$, they're salespeople that could have been working at Sleepy's last month selling mattresses! Word of the year "Fiduciary"

@Financial_Awareness

Жыл бұрын

@ringaleavo - 100% sales component to every advisor. Can’t shake that off at all. Have you seen where recruiters find their candidates? Some of them work out, but the attrition rates are staggering. Because it’s sales. Lol.

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