Investing can be confusing. But is it so complicated that you need to pay someone to do it for you?
79% of professional money managers cannot beat the market average. So unless you happen to find one in the other 21%, why should you give them a slice of your money via the fees they charge?
Warren Buffet is not going to manage your money because he’s too busy.Tweet This
A financial advisor takes a cut regardless of whether he/she makes you money or loses you money. So if you could probably do as well by throwing a dart at the stock page of the Wall Street Journal, what is stopping you from being your own financial advisor?
Time. You’re busy, we all are. But if you make $20 an hour calculate out how much time you would need to spend to do this yourself versus how much you are paying a financial advisor in fees. It will most likely come out that you could do it yourself cheaper.
Fear. Hiding your money under the mattress is less scary but it is not going to grow your wealth.
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Lack of knowledge. If you don’t know what you’re doing, what makes you think you have the knowledge to find someone who does? Investing is not rocket surgery. Every possible resource is available to you via books, the internet, and most helpfully, Listen, Money Matters!
If they’re so good, why are they dealing with your money instead of growing their own Scrooge McDuck like pile? Financial advisors make a living off the fear and ignorance of the average investor. No one will care more about your money than you.
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