Best question I asked my guy was "what do you invest your money in" he looked a little surprised, then pulled up his actual portfolio, showed me his investments, and why he was in each one. Now, he over explains things to me when he suggests a new investment or change, because he knows I want to understand why and he better have a good reason.
Dave Ramsey recently inspired me to go back go school in August and continue education to become a financial advisor and wealth management specialist so this is awesome. People deserve to be given honesty accompanied by integrity and I want to provide a service to better peoples' lives. Thanks Dave for the inspiration.
I think Dave's understanding of the Scripture about money management makes sense. Money can't love anyone, but the person owned it does, behavior and simply being stupid leads us to becoming broke.
How do you get paid for your services? ... What's your own investment philosophy? ... How will you invest my money? ... What are your credentials? ... Are you a fiduciary? ... What's included vs. what's extra? ... What's your succession plan? ... How will you consider my assets that you don't directly manage?
I just found these videos a couple of weeks ago and have gotten a lot of sound advice. But the one thing I'm realizing I need most in my life is the Dave Ramsey hang-up button. "You're done talking... CLICK!"
Yeaterday, I finally finished my 5th interview with an investor I found through provestor. Now to make a choice with my small amount of money. I want to be wise with what I have and I am definitely taking a chance and learning a lot this past week!
If they are not fiduciary they are running off commission or it's part of there incentive. Dave's guys are working off the same. Avoid financial advisors invest in index funds sell when the lead indicators from lei institute show a weakening gdp, rising unemployment, and lower housing numbers buy on the dip sell on the way back up rinse wash repeat.
I will admit that I did not listen to this entire clip, but during the first couple minutes, I couldn't disagree more. If I hire a builder to build my house, I can make sure the house looks like what the blueprint shows, but I don't know all the building codes. That is where you must trust the builder. Fortunately, in building a house, you have a building inspector to make sure those codes are followed. With financial planning, you don't have that.
I looked into one of the advisors on the website and had a nice chat. Then I learned his fee would be 1% a year on my investments. That's a lot of money.
Approved for SBA EL and I want to deal with credit card company that I have two cards a $4,000 each. I’m going to offer them 45% of balance for both cards and get the reported to my credit as paid as agreed.
I disagree about religious values needing to be the same. It's easier, I suppose, to find a fellow Christian, but I am not, and I take advice from Dave Ramsey. I'm not a Christian and I'm not a conservative Republican. It's not really relevant to good financial advice, IMO.
Their vetting is only based on how much Advisors are willing to pay monthly to get on their list. Can be up to $1000 a month. That's how Ramsey makes all his money.
My “ELP” that will be doing our taxes also provides investment services. He’s not listed as a smartvestor pro though. Is that a red flag if I wanted to also use him for investment services?
Hi Dave, great advise. Question...I'm trying to help my three sons set up their retirement accounts. My credit union charges 5.75% off the top on every deposit transaction into their Roth IRA. What is a proper fee for that?
What does a person that doesn't agree that you should pay off your house and that same person doing your taxes related?? The two are totally unrelated It makes no sense
Hi how do you like it so far? I have been thinking about it.. Dave Ramsey inspired me to look into it, I am looking online for schooling or maybe going to college for it. What was your options for you ? If you got a certificate online, would you mind sharing the website? Thanks in advance.
This isn't informative at all. It's just a rant. If you know more than your advisor then you shouldn't need to hire one. It's as simple as that. The while point of hiring someone is they know more than you do.
If him being Christian and you not being one happens to create enough of a conflict in how you view money, then yes, you should not listen to him. If him being a Christan just means to you that you ignore whenever he mentions the Bible but you find the rest of his advice good, then it likely isn't a problem. It's a question of what's important to you.
As it turns out I have met more crooks to talk a good talk at the ole Baptist Church than in bars!!! Fancy talkers can make you believe that they believe fit perfectly with all the exact same beliefs!!! So, AGAIN what expert questions must be answered to quality choose a financial "advisor?"
New financial planner I spoke with said I should not pay off my mortgage because it is at 2.75% and instead put into stocks. He also does not agree with the way Dave Ramsey invests because he cant make any money off of my money. I kicked him to the curb real quick!
Gotta love the plugs for his daughter’s channel at the ends of videos. Riding her dads coat-tails smh. Not saying she doesn’t have good advice but let’s be honest, she’d be a nobody if her dad wasn’t Dave Ramsey. No disrespect, just saying it like it is
He actually does give a list of questions. The 2-page is entitled "Interview Questions to Ask Your Financial Advisor" and "Financial Advisor Evaluation Score".
Not taking advice from someone who doesn’t share the same religious beliefs as you is pretty narrow minded. I don’t a high power need your money to protect ya from “evil”. Once again to each their own if you wanna believe that.
I went to the SmartVestor Pro site, put in my info and click next and it advanced to Step 2. I clicked I understand and nothing happens. So it appears the site collected personal info but did not provided any SmartVestors. Not the best experience.
@@travis1240 I worked with a financial advisor who is a fiduciary. They destroyed me financially. Had I kept my money in low cost index funds, I'd be worth 1.2M. Instead, Im facing a retirement of poverty.
Dave Ramsey has a simple math problem. He doesn’t understand that if your mortgage is 4% but you are getting 12% in the stock market (as he claims is the average yearly returns), you will have tens of thousands of dollars more money after 30 years if you invest your savings rather than paying down the mortgage faster. He claims that financial advisors disagree with him because all they want to do is sell products that they get commission on, but what Dave fails to admit is that even if you use financial advisors’ logic and invest instead of prioritizing paying down your mortgage, you will have much more money in the long run. It’s sad that so many gullible Americans fall for Dave’s toxic advice. They may feel good being out of debt but they don’t realize they would have been tens of thousands of dollars richer if followed the regular financial advisor investing advice.
Pepe Le Pew Dave tends to appeal to the emotional side of money (ie the debt snowball is more efficient emotionally opposed to the avalanche method which is mathematically more efficient) So Empire makes a good point in terms of the mathematics of the situation but Dave isn’t all about math. Yeah theoretically you can make more money freeing up cash you’re using to pay down the mortgage but emotionally it feels a lot better having the house paid for. This is exactly the point of the video though, if you’re using a financial advisor, find one that agrees with your philosophy and helps you with YOUR goals
Sixty On Standish I came to the comments to say exactly this. Awesome job. For some people the relief of not having debt and being conservative with their money is more attractive than maximizing reward at a higher risk. Mathematically it may not be optimal but we’re all really here to enjoy our lives with our money not be beholden to it.
