Should I Manage My Own Money?

This past weekend I was talking to one of my friends about earning potential, investments, and realistically how much time was actually needed to manage your own money. And is it worth it?

First lets talk about traditional money management for retail investors. The incentives of the financial advisor and retail investor are not aligned. What I mean by this is that financial advisors are compensated for assets under management and not performance. Meaning they are not compensated for making you money. Furthermore they make money whether you make money or not. WHAT? So in a bull market like we have had the past 4 years these financial advisors look like geniuses. But its easy to make money in a bull market. When was the last time you heard someone tell you how much their financial advisor made them a killing when the market fell 20%??? NEVER!!!

So you tell me do you think it is worth having a financial advisor?

Lets say you agree with me that maybe financial advisors are not worth it, BUT the markets are so complicated and I don't have the time to stay on top of it. So in the end putting my money with a financial advisor is the best worst option I have...Look, I once read a quote "if you leave your future in someone elses hands, guess what they have in store for you? Not Much...."

Think about why you think the financial markets are so complicated. There is a vested interest out there to keep individuals mystified about how markets work because they make money from your lack of knowledge and knowhow. The reality is that the markets are not that complicated and I honestly think you can get by managing your own money with 30 minutes a day, 5 days a week. All you have to do is learn the basics and after that most things just go on autopilot. And 30 minutes a day is probably an overstatement because I am assuming that once you start learning, you start having some fun and want to have a little involvement everyday.

This blog is here to de-mystify the financial markets. Anytime you have questions about anything I am writing about or have a suggestion for future topics, please let me know by leaving comments below.

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Good Luck Trading!

In The Money Trades




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