Monday, November 7, 2022
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5 Issues I might By no means Do as a Monetary Advisor

What up, what up!!

Stumbled throughout my man Rob Wilson’s Insta feed this morning, and now need to share ALL HIS VIDEOS with you right here!! They’re so good!!

However I’ll chorus from blowing up your inbox, and as a substitute simply share my two favorites with you immediately 😉 However you should definitely try his feed afterwards because it’s legit!!

If he sounds acquainted, it’s as a result of we’ve featured him right here on the weblog earlier than, in addition to on my outdated podcast – The M.O.N.E.Y. Present – keep in mind that one?* Listed below are the hyperlinks:

Now take it away, Rob!! Thanks for letting me re-share these right here 👊👊


5 Issues I’d By no means Do As a Monetary Advisor


rob wilson - 5 things i'd never do

[Click to watch]

Right here’s the transcript, together with my ideas:

#1. I might by no means go away my 401(okay) at my outdated job as soon as I left and acquired a place at a brand new firm.

I don’t need my hard-earned cash sitting in some account that I’m not going to concentrate to, that’s additionally restricted by the quick menu of mutual funds that I can put money into. In that state of affairs, I might all the time roll that account over into an IRA the place I had far more management over the account, and all the investing universe of particular person shares, bonds, mutual funds, ETFs, and choices have been all out there to me and proper at my fingertips.

[J$: Yes yes yes!! Not only does it give more control over everything, but it also helps with *keeping track* of it all too! What’s easier/more fun to do: monitoring 3 accounts with 401(k) funds, or just 1? It might be a bit annoying to do (paperwork and all), but it’s def. worth the one-time hassle. Minimalism + money is where it’s at.]

#2. I might by no means put money into penny shares.

Being into penny shares isn’t even investing, it’s playing. And should you’re going to try this I’d a lot relatively you purchase a airplane ticket, go to Vegas, have a pleasant diner, and likewise go see a pleasant present since you’d have far more enjoyable doing that than by dropping all the cash that you just’re certain to lose by investing in penny socks.

[J$: Hahaha… agreed. Some people are good at it and have managed to come away on top, but for the majority of us I wouldn’t even TRY going down that path… So many other ways to win big, with much less risk!]

#3. I might by no means give a possible employer my wage historical past or my wage requirement

Look, what I made previously has completely no bearing on what a possible employer ought to supply me immediately. And fairly frankly, asking that query is why ladies and minorities specifically get caught on this vicious cycle of wage discrimination. Now, the excellent news is is that asking that query has been banned in 21 states, however simply in case you reside in a state the place they’ll nonetheless ask that query, don’t reply it.

[J$: Didn’t know about any of this!! So helpful!!]

#4. I might by no means undergo life and never have an property plan

Look, I’ve seen households completely ripped aside as a result of there was no directive on how they needed the property to be divvied up. I’ve additionally seen some ugly custody battles when one thing sadly occurred to each mother and father, they usually didn’t go away correct directions as to who they needed to care for his or her youngsters if one thing occurred to them. And naturally, we’ve all seen the numerous Go Fund Me campaigns that happen when individuals don’t have satisfactory life insurance coverage. So look, if you take care of your loved ones as a lot as you say you do, then getting your affairs so as is of utmost significance. And which means it’s important to have an property plan.

[J$: I agree of course, having recently gotten our own wills and trust stuff set up, however I wouldn’t give yourself too much grief if it’s still on your list and you haven’t gotten to it yet. Make sure you do eventually, but if you still don’t have your career/savings/investments down (and/or don’t even have any assets or kids to begin with) you’re probably safe to wait until you’re more solid. We don’t live in perfect worlds unfortunately, so we gotta cut ourselves some slack :)]

#5. I might by no means not have a number of streams of revenue.

You would possibly really feel like you will have the perfect job on this planet, however anytime another person is signing your examine, they’ll determine to cease signing it tomorrow. And even should you’re a enterprise proprietor, you continue to need to have a number of streams as a result of anytime you solely have one supply of revenue, whether or not that’s a wage from a job or what you are promoting revenue, you by no means know what can occur to it. In the course of the pandemic, thousands and thousands of companies have been shut down, and likewise a lot of property homeowners couldn’t acquire lease in the course of the eviction moratorium. However on the similar time that every one this was occurring, the inventory market was hitting new all time highs. So for these people that had an funding portfolio, they have been ready to make use of these positive factors to assist them get to the opposite aspect.

[J$: Yup yup, again in a perfect world you’d have cash flying in from all over, but if you’re only able to manage just *one* right now, that’s okay too… Just keep working and doing your best and eventually you’ll get there!! And some *have* managed to come out just fine too btw by only focusing on one income – some even say it’s more powerful doing that than not giving it your all and tacking on side hustles on the side! So just keep doing your best and you’ll find that sweet spot. (A way to cheat in this too is to just *invest* your money as Rob points out which requires no consistent effort on your behalf – that’s mainly what I do now 🙂 So if you are “just” a one-jobber you can at least take advantage of that and get the win!]

So yeah – strong ideas total!

Right here’s the subsequent vid I preferred, that every one you inventory pickers would possibly discover useful… I didn’t learn about any of those, maybe as a result of I’m an Index Snob?! 😉


secret investing websites [Watch video here]

5 Secret Web sites That Will Assist You Develop into a Higher Investor

  1. Whale Knowledge — permits you to see precisely what well-known traders like Warren Buffett or Ray Dalio are placing their cash in inside their actual life portfolios.
  2. Sensible Insider — permits you to see precisely what investments members of congress are shopping for and promoting, so you can also learn to develop into an amazing investor by completely not utilizing tax-payer funded insider data.
  3. Guru Focus – permits you to see when company insiders like founders, executives, and board members use their very own cash to purchase or promote their firm inventory. Placing their cash the place their mouth is, so to talk
  4. Bar Chart – offers you entry to tons of free funding tables, charts, and analysis so that you just’ll all the time know the present pulse of the market.
  5. – leverages the ability of algorithms and synthetic intelligence that will help you establish doubtlessly superior funding alternatives.

Nice nice stuff throughout… Thanks once more Rob!

Should you’d prefer to see extra, you may try his Instagram feed right here: @RobWilsonTV, or his current e book right here: Safe The Bag.

Hope you discovered one thing new! Do you observe any of these ideas or websites above??

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*The M.O.N.E.Y. Present is now often known as the “Afford Something”present, with Paula Pant. We co-hosted it again in 2016 after which I dipped out and he or she took the reigns over and has been KILLING it ever since… Should you’d like to take a look at all of the reveals we did collectively – about 30 of them – you’ll find them right here:

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