Unbelievable! My $2 Million Stock Portfolio & A Financial Advisor's Bold Move to Take Control of it!

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Books that have helped us on our Financial Independence Journey
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The Bogleheads' Guide to Investing: amzn.to/2UjEc4j
The Intelligent Investor: amzn.to/2MKGokh
A Random Walk Down Wall Street: amzn.to/2zIVI8p
The Book on Rental Property Investing: amzn.to/2UkwgQ6
Building Wealth One House at a Time: amzn.to/2ZJQuDW
Rich Dad Poor Dad: amzn.to/2ZD29IK
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The $100 Startup: amzn.to/2UnBpqK
Freakonomics: amzn.to/2HCnDeJ
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Our Rich Journey - Unbelievable! My $2 Million Stock Portfolio & A Financial Advisor's Bold Move to Take Control of It!: Are you managing your own investments or considering a financial advisor? It’s crucial to be aware of the tactics that financial advisors might use to win you over. Many investors lean towards professional advice without fully understanding what’s at stake. In this video, we uncover the common strategies used by advisors, highlight the importance of financial literacy, and encourage you to compare managing your own investments with hiring a financial advisor. Watch to learn how to spot these tactics and arm yourself with the knowledge needed to make informed decisions about your financial future!
▸▸▸Check out some of our other videos!
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[@OurRichJourney]

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[@truesurf]

53 year old average guy here in the double comma club. What I've learned when it comes to money....NO ONE IS YOUR FRIEND or has your best interest in mind. Learn as much as you can and manage it yourself.

[@daystar73]

Absolutely...👏

[@steve99912]

So true nobody cares more about your cash than you.

[@bpalm7428]

truest words ever.

[@LadyGaonouu]

💯

[@LuiggiChampan]

I agree! And no one knows your money better than you!

[@hulkman4004]

If you got 2mil without one then i say you dont need a financial advisor. You are one

[@Arun71150]

Right!!! Multiple millions, not just 2. Lol. FA saw chaching!!!

[@deanrotering879]

My friends told me the same thing so I decided to keep on my own.

[@augustdelacreme]

Fr fr

[@mjs28s]

Um...because you have millions doesn't mean you know about investing. One could build that wealth with a small business selling widgets. Then you sell out a decade or two later for $5,000,000 and you know nothing about investing....now what? Maybe you start out in your 20's as a plumber and then build a nice business and sell that off decades later for $10,000,000. And now what - you spent your life and career being a plumber and then running a plumbing business. What experience would that give you with all the other things that a CFP knows about and has to plan around and work with? Look at all the wealthy people and high earners that Madoff scammed. Strange again. Seems like having built up a large amount of money / assets doesn't mean that you know anything. Madoff's firm was self clearing. That would have been the first thing that should have made anyone run to the hills but rather they threw money at him and his firm like he walked on water. In this case they are very sharp, but that doesn't mean that you still know everything and have no need for advice. The CFP that I use for one business account simply asked me a question that ended up saving several thousand dollars of income taxes that, had I not had him and had that question not come up the play that I then made would not have been uncovered. Plus, through him I have access to all kinds of other things: private placements (VC, private reits) and other investments that most don't even know exist. That said, 1% is too high as I would think at the level of that one account alone that they would only have to pay 50 points and not 100. Now, I am talking about using a CFP, not a Financial Advisor. A CFP is a financial advisor but not all Financial Advisors are CFPs. There is a difference. But if one needs a CFP or FA, fee only or find one that you can use once or twice per year for an hourly fee and have an update meeting where they give you ideas to consider and you be the one to execute them if you wish.

[@miked8227]

He lost my money when he said that I had no say in how it was handled and he had complete control. Results? I’ve been retired just over three years and have more than doubled our money. My son suggested that I’ve always been involved in the market and successful, why would I let someone else take control.

[@claudinekent5823]

Best decision I made was to take control of my own assets!

[@daisyreinacher5022]

Me too!

[@qeinfinity]

Me too!!

[@forestmotoadventures]

Me three. Bob Brinker (Money Talk radio program) used to open the show with “Learn to be your OWN financial manager so you can keep the SHARK s🦈 away.” 😂

[@thejourneyofraymond5752]

Hi, I'm interested in hearing your thoughts on way you all decided not move forward with the securities backed line of credit.

[@seanbrown2361]

Make a whole video explaining why you didn't go down the route you were planning

[@PaulProsperInvestments]

Always cracks me up how someone working a 9-5 thinks they can "teach" folks who retired early and living off their investments how to invest. He knows there was nothing he could do for you guys investment wise and simply wanted that commission fee.

[@melaniesmith1928]

Right! 😂 Sir, we did this without an advisor. Don’t do us any favors with your ‘help’.

[@jmr2594]

I used a financial advisor in the past to manage ETFS and Mutual Funds in Nj. In 2 years he changed barely anything so when I called him and started asking questions he called me back stating I was calling too much and asking too many questions. I then stopped using him. I also found out that the retirement account he was suppose to manage he had no access. I will never use a financial advisor.

[@jay_stack1270]

Wow!! 😂😂 so all these while he was just taking his fees..that’s crazy

[@glasshalffull2930]

Hey,HE’S the expert!!! Just shut up and give him his commissions!!!! (Joking of course)

[@genxx2724]

I would get the fees reversed on that retirement account.

[@lindamaag3541]

We manage our own monies! My experience with financial managers has been financial bullying. Exploiting me and friends was their approaches, too dumb to manage our accounts. The Lincoln person told me he would put my monies in an American fund, charge 10%, and I wasn’t to bother him after I gave him my monies. Ouch!!!!!! Stand up for yourself. It is rare to even make 10% profits year over year. You guys are Great!!!!!!

[@voyagerman22]

I think advisors like to present this image of “managing” your money to be like a daily task for them. The reality is once investments are in place, especially with index fund/ETF investments, there is little managing to do other than rebalancing to maintain your desired asset allocation. Also, rebalancing is maybe a once or twice a year task, if even that.

[@jeremyhicks2449]

Exactly why I managed my own money.

[@OurRichJourney]

So true!!!

[@respectfullytruthful]

The shower scene 😂😂💀

[@OurRichJourney]

😂😂😂😂

[@lataraashley9143]

Thanks for using your experience to warn us 😮

[@sidandsof12]

I’d like to know why you didn’t go through with the line of credit. Can you post a video about it?

[@actionvj]

🙏🏾 This video is awesome. While I don’t have that type of money, that makes it even more important to make every penny count. I appreciate y’all sharing your experience. It’s great knowledge for me to have and many others, I’m sure. 👍🏾

[@Lissa1988]

Another great video. This one definitely hit home for me. When we pulled our accounts from our previous advisor, he used several of these tactics. They definitely hate when you are an informed client.

[@aracelireyes999]

37%??!! Wow, you guys are amazing.

[@OurRichJourney]

Thank you! 💕

[@evanrousseau8666]

Magnificent 🎉

[@rgarri6396]

I’m wandering about that return? Index was not up that much? Did you take high risk?

[@freshtapcoke]

@@rgarri6396I bet $100 a lot of it is real estate

[@OurPerez]

The Advisor was doing the Bird Man hand rub while conversing with you all. Glad you all stood on business!👏🏾👊🏾🙌🏾

[@OurRichJourney]

📈Looking to learn how to invest? Enroll in our Stock Market Investing Course: www.ourrichjourney.com/investingforfire 🔥Learn more about financial independence and retiring early: Enroll in our F.I.R.E. Master Class: www.ourrichjourney.com/firemasterclass

[@barbaranichols566]

However, how do you borrow against your assets? Please do an video.

[@aracelireyes999]

J L Collin's book would agree with you, " Manage your own money." Thank you guys for everything. I am at the very beginning of my journey.

[@OurRichJourney]

Yes! We are definitely in favor of managing our own money!!!

[@VNAV_PTH]

LOL, used car dealership vibes 😊

[@rushanejclarke]

They are crooks, I laugh when they realize that I'm financially educated lol.

[@OurRichJourney]

Yes! Being financially educated allows you to see beyond the financial advisors' smoke and mirrors!

[@sidandsof12]

Haven’t heard “scanless” in years. Took me back. Love ya guys!

[@autobotdiva9268]

i busted out laughing and Amon said it hard!

[@Chachou18711]

Thank you for your advices. I started my journey 5 years ago. From zero to 300 000 euros on stocks and index funds. Thank you for the motivation. A French suscriber !

[@leftbank0693]

Same. Once I got those year-end statements back and saw that my S&P index fund was outperforming his active management, we pulled our funds and closed the account with him.

[@victorc2786]

Thanks for all the great advice you give, Love ❤️ you guys.

[@smokeyhat]

Thanks for sharing the advice guys. I would certainly walk right into this trap in the future had I not seen this. Keep doing what you're doing to increase the awareness of the uninitiated like myself. ✊✊

[@jokedog]

The Index will outperform these money managers, unfortunately too many individual investors don't have the discipline and instead chase the stock of the moment and/or panic sell and wind up under performing. Still not endorsing financial advisors or money mgrs, just pointing out the reality of individual investing.

[@BrokeMillionaire1]

Facts!!

[@betterme479]

Really appreciate this video! Thanks for taking us along on your journey ❤

[@rgarri6396]

Very good video, 37% return is in question? What risk did you take to get that return? Index was not up that much.

[@mlgneo2855]

Hindsight is 20/20; I would say overweight NVDA or similar mag7 position

[@nalynegunggavakin9682]

I totally agree with you and had the same experience from well know financial advising places. I tried let one manage an IRA and they totally underperformed in a bull market. They obvioulsy didn’t rebalance it. Please do a video on Pledged Asset Line of credit.

[@lewishamse6]

Great video very insightful. I plan to always manage my money. Like they say "Knowledge is power". Thank you for reinforcing my own opinion.

[@mashanti_worldwide]

This should be required curriculum in universities. Well done, as always.

[@chrislopez5396]

You don’t get to 2+mil without knowing what ur doing

[@dkgong]

$2 Million?! Wow, that's amazing! I hope you can do a video on what you invested in someday.

[@PAULIEL.]

GET THEIR STOCK INVESTING COURSE AND THEY SHOW YOU.

[@nikkoe2694]

They have lots of videos about that

[@Panda-gu9wz]

Financial Advisors, unless 100% fiduciary, are pretty much scammers. Every time I took their advices I ended up with huge losses.

[@MR.B1004.]

Once again another great video! If you can do it on your own and your being success at it. Just continuing doing what your doing no need for an advisor. Who only wants to benefit off of you for their own gain. So many scammers out here that you have to go through in order to scale up!

[@OurRichJourney]

Thank you so much! And you are right - so many scammers out there!!!

[@MK-ut8ik]

I would be very interested in the ways you leverage, investigating it myself, the securities line of credit and so forth. Do you elaborate on that? And yes! Great advice regarding financial advisors, I have used them in the past and lost a ton of money at their grezzy hands. most are crooks and are NOT looking out for your best interest

[@samuelawosolu1485]

This was a great video! Please create more videos like this that expose how some financial advisors at banking institutions may not have your best interest when it comes to managing your money. Also I would like to know more about how a securities backed line of credit works. Sounds like the equivalent of taking a HELOC on a home.

[@NursesToRiches]

I love this video and always enjoy watching you two together.

[@jamesspitzercashout]

Hello my friends Amon and Christina! Just wanted to check in and let you know that I am retiring on May 23rd. Just a few weeks away. My wife and I have so many travel plans upcoming, and I have a couple big opportunities that could be huge coming up. Still love how you are so relatable, open and transparent to all your viewers and supporters. I, and I know, that all that follow you feel like we know you like our closest friends. Such an important skill to have these days. A true success story for all to admire. I will always watch and check in when I can. One of our stops in our travels is Portugal. Hoping our pathes cross to share that Latte that is on my bucket list❤. All the best my friends. James and Ellen Spitzer

[@jay_stack1270]

Congratulations 🍾🎈🎉 You both Enjoy your retirement 😊

[@kermicgreen3370]

Proven fact that 90% of "so called" financial advisors vastly "underperform" the NASDQ and NYSE historically. With research and the internet these days, savy investors don't need financial advisors.

[@radishfever]

I would listen to a video about securities backed loans. 👍

[@Corioles29423]

I want to manage my own investment, but how do I manage the capital gains tax?

[@jbferrer3]

Can you tell us how you’re getting 37%? What exactly are you investing in?

[@lynebynd-wd5zz]

I had a financial advisor since 2020 for 5 figure account. She invested my account in an American fund Mutual fund. In the last 4 years my account made NOTHING in the American Funds account! NO Profit at all. The stock market is up and I made nothing!!!! How can that be!

[@glyeki]

So glad we took your financial course years ago guys! You gave us the skills to be able to create and navigate our portfolio without a Financial Advisor and laugh at the few we have had to talk to while experiencing these same tactics. Knowledge is Power!

[@stuartl5911]

Commission based financial advice is NOT financial advice. It is marketing.

[@cosandraodame7623]

Great advice

[@OurRichJourney]

Thank you!!!

[@jdone7619]

@@OurRichJourney how long did it take you to save or invest before you retired and how much did you start off with ?

[@Vivienedouglass]

As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?

[@westcoastmediasolutions]

Yes please tell us what you guys decided to do to finance your next property purchase.

[@sonja8942]

Is there a cost for your course in financial “know how investing”?

[@natelammers652]

I moved my Roth this year and self manage. For the last 5 years the account has never beat the S&P 500. Some years trailing the S&P by almost 10%. Add on the 1% fee they charged it was ridiculous. This was one of my smallest accounts I have and was the worst performing.

[@MeltingRubberZ28]

I got our of every advised account I possibly could about 6 months ago. Feels great!

[@judihostetlerraber4490]

That's exactly what I did last month. 👌

[@cot5thorchid551]

My mum back in 1996 had $350,000 working as a clerk for phone co. and hiring an advisor, ended up with $80,000 after a few years.

[@hopedodson8058]

Yes- would love a video about securities backed lines of credit.

[@ImaAHol]

Please do a video on the securities backed line of credit!

[@sheenaoates3217]

This video is comical!! Thanks for sharing!!!! 😂😂😂😂😂😂 you both have taught me so much about investing over the years! Y’all are such an inspiration! Keep proving this valuable content!! ❤❤❤😊😊😊

[@OurRichJourney]

Thank you so much!!!!

[@SaintYvess]

80% equities 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large stock/bond portfolio for substantial gains at minimum risk.

[@feliciaflinders]

❤❤❤ thanks for sharing 👍. Also the loan against value of portfolio is good insight to mitigate tax. Clever idea and very smart.

[@jeanninecarter1312]

what made you decide against the security backed loan? were there high fees? or pre-payment penalties? what route did you finally choose? just curious if you don't mind sharing. i really enjoyed this video.

[@marcshaw6811]

Yes please explain how you pay the securities backed loan .

[@ML-dj8fq]

Thanks!! Please talk about securities backed line of credit

[@bcusaaus4749]

My first question is” show me your portfolio “

[@OtrosCauces]

Interested in your take on the stocks-backed loan and what did you do instead

[@AmineAmine-vd2fs]

Per your screenshot, that portfolio is in a US bank account (Fidelity)? Though you are based abroa. Can you share some insight on this?

[@deniseweideman1974]

Thank you two lovebirds for showing us all how it is done.... been following you for a couple of years and so proud of your success... and your wonderful advice... all the best

[@slaltemus]

The 5 years I had my money under a financial advisor were the worst I have ever done when compared to a standard S&P 500. I was told when I was taking control that I would fail because I would be reactive when the market drops. Happy to say I have done extremely well since I pulled it away. My coworkers who did only did Target Date Funds were doubling my return rates when my funds were under management.

[@femio3617]

What life insurance is the beat yall recommend or use

[@irene8013]

Thank you for sharing, very helpful info!

[@mannyaleixo4402]

Well said thank you for sharing your experience. It’s appreciated

[@punknhead23]

My father passed 20+ years ago. Been taking lifetime RMDs from his IRA. It of course has a financial advisor. Can i boot him off of that or does it have to have one being its an Inherited IRA?

[@shalakataneja8686]

So true! I had the same experience recently.

[@WelsonDas-wm4it]

I'm thinking to put some cash in stocks, I was at Salt Shack and i overheard some friends saying its ripe enough, but Is this a good time to buy stocks? I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?

[@FrankEword0v]

What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.,..

[@TiagoRamosVideos]

Great video! Thanks for the heads up 🙏

[@lovecrossingborders]

LET'S GOOOOO. Thanks for the warning tips. 😮😂😂😂 💯 CORRECT That's literally how the rich pay cash for property. They get a security loan against their investments.

[@OurRichJourney]

YES!!! Thank you for watching!!!

[@marjorieantoniou2836]

Security lined backed credit sounds interesting please share. Thanks!

[@mauricecuffee7220]

Wonderful video. Just sent it to my daughters and wife.

[@pall5114]

always inspiring, congrats. do you have a video on how you managed 37% last year, and what funds/ETFs you are invested in?. To your point, I have not had much success with financial advisors and could have done better on my own invested in S&P fund. Thank you,

[@Daniel-ct8zv]

Can u guys make that video on the back line of credit??. Can't wait to learn some more!.. I appreciate u guys making this video, ur timing is impeccable, i was just thinking about calling a financial advisor too!.. Wow! 🙏

[@getinthespace7715]

If you are doing that good... You DON'T NEED a financial advisor. Realistically you are opening your portfolio up to more risk, such as fraud, theft etc.

[@mlatrellelove]

Y’all are such a blessing for educating us and showing us what’s possible. Thank you thank you 🎉🎉❤❤

[@rameshr4395]

I had a similar experience with financial advisor.. My account balance was 0.5 million or lower. But I had invested in tech stocks (mostly AAPL) at that point. He pointed that out and said i was over concentrated in tech stocks and I need to hand over to his company for management. I said no thanks and continued with self-managed one.. since then my balance has grown 3 x. The best decision I made :)

[@cann9155]

Ewh! that guy was a total used car, timeshare salesman. This is just ONE of the reasons why I love you guys SO MUCH. Full transparency, real life experiences and financial investment EDUCATION SHARED. 💝💖💝💖 I highly recommend your courses to everyone I meet.

[@agxagx9260]

Good call out to watch out for financial investors 👍. But can you please explain the +37% this year??? That was far from the return of à well diversified ETF!

[@judihostetlerraber4490]

Are they in Bitcoin?

[@manny2kx276]

The financial advisor is watching this video like 👁️👃🏽👁️

[@letschatfamilyfinances]

This was hilarious! Thank you for sharing!

[@EthanRaynolds]

I have added a variety of stocks and ETF to my present holdings for the long term. I also have $300k aside to start following inflation-indexed bonds and stocks of companies with solid cash flow. I strongly believe this is a good time to capitalize on the market for long term gains. But actualizing a short term profit would not be a bad idea for me at all.

[@墨紫月]

my husband and I are considering retire next year. Since we have all our retirement savings in 401k and IRA, we should probably convert some to Roth before RMD at age 73. By the way we are 61 and 56. Should we hire a fee only advisor to help us with this tax saving objective? We have never worked with any financial advisor before.

[@driveamericanroads7491]

This has to be fidelity. They offered me a same tactics and incentives!

[@willmallory9085]

Excellent video Team, thanks for sharing.

[@OurRichJourney]

Hi Will! Thanks for watching!

[@VincentCloutierMtl]

Thanks again for your videos. That one is so good as everyone has lived or will live this at some point.

[@none-d8g]

Financial Advisors definitely talk down at you as we are stupid !!! Mine told me I read to much and ask to many questions ?? lol

[@auboisdaline]

AI stocks are poised to lead the market in 2024. My preference is NVIDIA, as they have strong long-term growth potential and play a key role in supporting other AI companies. A friend of mine saw gains of over 200% with NVIDIA. While that's my top choice, I'm open to exploring the other suggestions you mentioned.

[@ktriebol]

For people like you and me, who have an interest and willingness to learn about personal finance, a financial advisor or full-service broker is not needed. Some people don't have the interest or ability to manage their assets on their own, though. For them, I suggest a fee-only financial advisor to avoid conflict of interest.

[@warrenandyiching]

My dad was an intelligent man in many things but not in investments. When he passed, I inherited his JP Morgan "Wealth" Management account. The "financial advisor" put a 80+ year old guy with less than a million dollars in 25 different mutual funds and ETFs including a hedge fund. For this privilege, he paid an asset management fee of 1.45%.

[@TheSponsorPodcast]

Joined the journey last month! Thank you for providing clarity and a path to FIRE!

[@masonjones3780]

I've done well on my own investing in index funds. I'd definitely make sure my financial advisor is a fiduciary

[@lynebynd-wd5zz]

It is hard to find fiduciary with 5 figure account.

[@steve6375]

The trouble is once they have your money it is really tough to get it out if it is subject to tax and they won't let you self-manage. When you say to them, 'why am I invested in these funds? I want these funds instead', they still wont do what you want and instead suggest alternative low performance, high cost funds (which they get paid commission on)! Why do they get paid on a %age of your total portfolio amount anyway? Why is more difficult to manage 10 different funds with $1000 in each than it is to manage 10 funds with $100,000 in each fund? Why aren't they paid a retainer (flat annual fee) plus a percentage of your annual gain.

[@MrTofu13]

I want to keep my money too! Thank you guys for all the knowledge!❤😊

[@lmpreston1]

The Financial Advisor I worked with tried to push me into an annuity that was paying me less than I would get otherwise. Basically, taking my money out of my control.

[@SnowyCountryChicken]

Same here. Fidelity tried to sell me an annuity and I said let me think about it. The advisor told me to give her $500,000 usd and then in 10 years I could get $2500/month for the rest of my life. I also asked her, how much commission she would get and she darted her eyes around the room and she never answered the question directly. She just said that Fidelity pays her by giving a service to her clients. I responded that I would think about it but that people in my family generally don’t live beyond their 70s and I’m already mid 50s so by the time, I would get annuity payments. I probably have only like 10 years of payments. I would never get the half million dollars back.

[@johnl9135]

I just can't trust anyone with my hard earned money beside myself.