Episode Description
Doug and Producer Chris chat about a very controversial topic in the FIRE community – working with a financial advisor. They explore the reasons someone might or might not want to work with an advisor, discussing common pitfalls like high fees & hidden motivations, while emphasizing the benefits of getting an outside perspective & professional guidance, especially in areas like decumulation and complex financial situations.
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Links
- Jeremy Schneider on MHFI episode 122
- Jeremy Schneider on MHFI episode 243
- MHFI Facebook group
- Doug’s site
- Check out Producer Chris’s blog: Epic Financial Journey
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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**
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Email the show: doug@milehighfi.com
0:00 Introduction
4:35 Insurance agents
9:24 The problem with fees
15:21 The downsides of DIY
19:57 Identifying blindspots
27:58 Dealing with complex situations
33:20 Actually working with an advisor
38:23 The importance of professional help
43:20 Mindset & spending in retirement
50:03 Soundcheck – Kitchen gadgets