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

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@OurRichJourney 6 ай бұрын

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@truesurf 7 ай бұрын

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 7 ай бұрын

Absolutely...👏

@steve99912 7 ай бұрын

So true nobody cares more about your cash than you.

@bpalm7428 7 ай бұрын

truest words ever.

@LadyGaonouu 7 ай бұрын

💯

@LuiggiChampan 6 ай бұрын

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

@claudinekent5823 7 ай бұрын

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

@daisyreinacher5022 7 ай бұрын

Me too!

@qeinfinity 6 ай бұрын

Me too!!

@forestmotoadventures 4 ай бұрын

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.” 😂

@Hulkman0101 7 ай бұрын

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

@Arun71150 7 ай бұрын

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

@deanrotering879 7 ай бұрын

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

@augustdelacreme 7 ай бұрын

Fr fr

@mjs28s 5 ай бұрын

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 5 ай бұрын

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.

@thejourneyofraymond5752 7 ай бұрын

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

@jmr2594 7 ай бұрын

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 7 ай бұрын

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

@glasshalffull2930 7 ай бұрын

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

@genxx2724 7 ай бұрын

I would get the fees reversed on that retirement account.

@lindamaag3541 6 ай бұрын

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 4 ай бұрын

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.

@seanbrown2361 7 ай бұрын

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

@jeremyhicks2449 7 ай бұрын

Exactly why I managed my own money.

@OurRichJourney 7 ай бұрын

So true!!!

@PaulProsperInvestments 7 ай бұрын

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 7 ай бұрын

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

@lataraashley9143 7 ай бұрын

Thanks for using your experience to warn us 😮

@aracelireyes999 7 ай бұрын

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 7 ай бұрын

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

@sidandsof12 7 ай бұрын

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

@OurPerez 7 ай бұрын

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

@Lissa1988 7 ай бұрын

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.

@westcoastmediasolutions 7 ай бұрын

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

@aracelireyes999 7 ай бұрын

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

@OurRichJourney 7 ай бұрын

Thank you! 💕

@evanrousseau8666 7 ай бұрын

Magnificent 🎉

@rgarri6396 5 ай бұрын

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

@freshtapcoke 4 ай бұрын

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

@rgarri6396 5 ай бұрын

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

@mlgneo2855 4 ай бұрын

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

@marcshaw6811 7 ай бұрын

Yes please explain how you pay the securities backed loan .

@actionvj 7 ай бұрын

🙏🏾 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. 👍🏾

@femio3617 7 ай бұрын

What life insurance is the beat yall recommend or use

@dkgong 7 ай бұрын

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

@PAULIEL. 7 ай бұрын

GET THEIR STOCK INVESTING COURSE AND THEY SHOW YOU.

@nikkoe2694 7 ай бұрын

They have lots of videos about that

@nalonnimadden4730 7 ай бұрын

So is this course different from the previous one and we would have to buy again?

@AmineAmine-vd2fs 4 ай бұрын

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

@hopedodson8058 7 ай бұрын

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

@ML-dj8fq 7 ай бұрын

Thanks!! Please talk about securities backed line of credit

@TheSponsorPodcast 7 ай бұрын

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

@sidandsof12 7 ай бұрын

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

@autobotdiva9268 7 ай бұрын

i busted out laughing and Amon said it hard!

@victorc2786 7 ай бұрын

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

@sonja8942 7 ай бұрын

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

@OurRichJourney 7 ай бұрын

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@barbaranichols566 7 ай бұрын

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

@CardSharkGermany 5 ай бұрын

So how did you get a security based line of credit? Or are you still searching?

@sonja8942 7 ай бұрын

Very interested in why you decided not to go to the securities backed loan for real estate purchase. Also is the purchase of your 3 other properties primarily to rent them out or is it to sell them at a profit after improving them?

@Corioles29423 7 ай бұрын

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

@rameshr4395 5 ай бұрын

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 :)

@Chachou18711 7 ай бұрын

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 !

@MK-ut8ik 7 ай бұрын

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 7 ай бұрын

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.

@rogeliofernandez6266 7 ай бұрын

Thanks for posting content about FIRE! Its hard to find recent videos on it

@claudiap3742 5 ай бұрын

Great video! 1st time listening to your context. The issue is how to move the account out without triggering tax. Looking into like- kind account move to Fidelity.

@respectfullytruthful 7 ай бұрын

The shower scene 😂😂💀

@OurRichJourney 7 ай бұрын

😂😂😂😂

@jamesspitzercashout 7 ай бұрын

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 7 ай бұрын

Congratulations 🍾🎈🎉 You both Enjoy your retirement 😊

@leftbank0693 7 ай бұрын

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.

@mannyaleixo4402 7 ай бұрын

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

@OtrosCauces 7 ай бұрын

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

@betterme479 7 ай бұрын

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

@irene8013 7 ай бұрын

Thank you for sharing, very helpful info!

@lewishamse6 7 ай бұрын

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

@nalynegunggavakin9682 7 ай бұрын

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.

@MGMG-es9ry 7 ай бұрын

How do I get security backed credit line? Can I get such credit line on my retirement account? Your feedback is greatly appreciated

@1879gym 4 ай бұрын

I would enjoy here more about that loan on my portfolio you spoke of ....

@smokeyhat 7 ай бұрын

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. ✊✊

@kimdav111 7 ай бұрын

do you have video on securities backed loans? How much do you need to have to do this? What did you do because you did not want to incur large capital gains to make a big purchase?,... I know about harvesting losses.

@Lifeislovely111-zl9qz 7 ай бұрын

This is one of my favorite videos that you've ever posted on your KZbin channel. It's crazy when you look into the background of a lot of Financial Advisors - some of them are not super educated but they try to portray themselves as "financial experts" but really they're just salespeople who love to confuse people and just want you to hand over your money so that they can get their cut.

@mlatrellelove 4 ай бұрын

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

@johnsode17 7 ай бұрын

You guys were spot on with your reveal of their tactics. I can attest they pulled the same with me. Of note, .1% of $100 is 10 cents , not one penny, but you made your point.

@TiagoRamosVideos 7 ай бұрын

Great video! Thanks for the heads up 🙏

@brisca3301 6 ай бұрын

Can't you create some sort of investment cooperative? with elected board seated by past performance and lowest cost/expenses? or even a discord of the same.. yearly membership based on performance :-)

@MrGorgefla 5 ай бұрын

Thanks for explaining the securities backed line of Credit.❤

@chicatita4753 7 ай бұрын

Yes, can you please talk more about security back line of credit? And if you dont use this then how can you use your $ to buy real state for example without paying high taxes? Thank you!!!

@radishfever 7 ай бұрын

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

@voyagerman22 4 ай бұрын

Interesting video, thanks. Would like to hear more about the securities backed line of credit.

@isaacchavez7121 7 ай бұрын

Definitely want to know why you didn’t go with the security backed loan

@brinho109 7 ай бұрын

What alternative to the securities backed line of credit did you all use, if any? Great video.

@mashanti_worldwide 7 ай бұрын

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

@ReynaldAdolphe 4 ай бұрын

Yes, make that video on why you chose against securities backed loan

@jeanninecarter1312 7 ай бұрын

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.

@feliciaflinders 7 ай бұрын

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

@TYJ419 7 ай бұрын

Thanks for sharing your experience. Yes, would love a video and why you changed your mind about the line of credit. Tracey

@ImaAHol 7 ай бұрын

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

@agxagx9260 7 ай бұрын

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 7 ай бұрын

Are they in Bitcoin?

@brian7110 7 ай бұрын

Yes please explain the SBLOC! Thank you!

@marjorieantoniou2836 7 ай бұрын

Security lined backed credit sounds interesting please share. Thanks!

@candecarro 5 ай бұрын

This is by far your BEST video ever!! So true AND entertaining!!

@baniqua133 7 ай бұрын

I would like to manage my own IRA. Can you do a video on canceling your FA and the tricks and schemes to look out for? Like will there be additional fees when you depart from an FA?

@lynebynd-wd5zz 5 ай бұрын

Thank you guys so much. I jist went through this same situation but my account is not at 7 figure range as yet.

@dianesalvatore5018 7 ай бұрын

I would like to hear what you think about the securities back LOC.

@NursesToRiches 7 ай бұрын

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

@goggles-fb7cx 7 ай бұрын

Superb analysis of sales tactics. Useful to know for any purchase. A great resource for sales people also! Would love to hear your take on financial advisors for after retirement. Spending down, health care and so on. Particularly since some of this may not apply to you.

@blascarmona6613 7 ай бұрын

Thank you for sharing!

@rickb5275 7 ай бұрын

Love your channel. I’d love to understand your thoughts and reasoning why you did not choose to go with the line of credit

@tBone20082 7 ай бұрын

Yup sometimes they go 2 percent .. Question why not leverage an Iul? Full disclaimer: I am a Lic Agent for IUls..

@VNAV_PTH 7 ай бұрын

LOL, used car dealership vibes 😊

@rosealapatt1315 7 ай бұрын

I am interested in knowing why you did not go forward with the credit. Thanks for these insights. I always remember what you have said in some of your earlier videos about the percentage charges by fin advisors- it would only make sense if they charge a fixed fee.

@willmallory9085 7 ай бұрын

Excellent video Team, thanks for sharing.

@OurRichJourney 7 ай бұрын

Hi Will! Thanks for watching!

@sunilmathew349 5 ай бұрын

Do you guys use any common asset allocation in all your accounts that helps you guys sleep at night ? Thank you for all the videos !

@MrTofu13 7 ай бұрын

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

@bethanystevcic7886 3 ай бұрын

Very interested in learning about the SBLOC

@iLibertyWoman 7 ай бұрын

Please make the video why you didnt decide to go with securities backed credit line. Thank you.

@glyeki 7 ай бұрын

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!

@TrailtoTrailTom 6 ай бұрын

Looking forward to the video about your path/experience getting the Security backed investment.

@lynebynd-wd5zz 5 ай бұрын

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!

@drivendreamskev 7 ай бұрын

Do you guys have a content on how an average joe investor can invest in stock markets in other countries? I.E India, Europe, etc?

@MicheleDullack 7 ай бұрын

Enjoyed your video. There are very few financial topics that are both original and relatable to where I am on my financial journey and this video is both. I wrote myself a note to start researching "securities backed line of credit" and so I would encourage you to have that topic in a future video.

@MR.B1004. 7 ай бұрын

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 7 ай бұрын

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