Why You Don't Need a Financial Advisor to Invest Your Money

Let's face it, the idea that you need a suit-and-tie financial advisor to handle your money is as outdated as dial-up internet.

With all the tools and info we've got online, taking control of your investments is not just possible...it’s kind of a no-brainer.

DISCLAIMER: I am NOT anti-financial pros. So let's clear the air on that. I know some really good ones but not everyone needs their services.

Okay, now that we got that out of the way before all the CFPs toilet paper my house...

Here’s why you might want to skip the financial advisor and what you can do instead to kickstart your investment journey on your own terms.

Information Overload, But In A Good Way

Google is your new financial advisor.

Seriously, there's so much free knowledge out there it's almost criminal. I would know. I'm pumping out content for free all the time in these articles and on my podcast and YouTube channel.

Investing isn’t some secret club anymore. It’s all out there, and it’s all free.

Tech to the Rescue

Remember when you had to call someone to make trades for you? Yeah, neither do I.

Today, there are apps and platforms that let you invest from your phone while in your PJs.

They’re easy to use, cheap (or free), and they don’t try to sell you on stuff you don’t need.

Plus, a lot of them offer automation tools so you can set it and forget it.

Be Your Own Boss

Handling your own investments means you get to be the boss.

No more fees for advice you didn’t ask for or decisions made with someone else’s interest in mind.

It’s all on you, which is terrifying but also pretty awesome.

You learn as you go, and honestly, it’s the best financial education you can get.

And let's be clear about one thing...if you have a financial advisor and they ARE NOT A FIDUCIARY, you are wasting your money and your time.

If you don't know if they are, ask and verify they are immediately.

Ok...mini-rant over.

DIY Investment Hacks

Alright, so you’re in? Here’s how to kickstart your investing career:

1. Learn the Ropes: Spend some time on the internet. The goal? Get cozy with terms like "ETFs," "index funds," and "asset allocation." There’s no rush, so soak it all up.

2. Set Goals That Actually Excite You: Saving for retirement is great and all, but maybe you’re also dreaming about a round-the-world trip or buying a cool condo. Let those goals guide your investment choices.

3. Find Your Platform Soul Mate: Not all investment apps are created equal. Shop around for one that fits your style and needs. Low fees are key, and so is a good user experience. Personally, I have used Etrade and Fidelity for years and really like them. Stay away from Robinhood (story for another time).

4. Go for the Easy Wins: Index funds and ETFs are your friends. They’re like the chill, low-maintenance investments that still get you where you want to go. Plus, they’re cheaper and often perform just as well, if not better, than the managed stuff.

5. Automate to Dominate: Set up automatic transfers to your investment account. It’s like having a financial plan that works while you sleep.

6. Check-In but Chill Out: Keep an eye on your investments, but don’t be that person who panics with every market dip. Investing is a marathon, not a sprint.

7. Stay Informed, Not Influenced: Sure, keep up with financial news, but remember, today’s headlines are tomorrow’s old news. Stick to your plan and adjust only when it really makes sense for you.

Ditching a financial advisor doesn’t mean going it alone in the dark.

It means empowering yourself to make informed decisions and taking control of your financial future.

It’s about being smart, savvy, and a little bit rebellious.

So go on, grab your financial freedom by the horns and start investing your way.

If You Want Guidance And Community With Investing...

Don't want to go at it alone? I don't either!

We have a financial community called Assembly where every month we have...

  1. Expert Keynotes
  2. Wealth-building challenges + prizes
  3. Fireside Chats to discuss life, money and investing
  4. Community insights on investing, saving and more
  5. A resource center with tools to help you on your journey

Check it out here!

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