Do You Really Even Need a Financial Advisor?

Your financial advisor may have the expertise, but are they making the smartest decisions with your money?

learn more about Phil Town

By Phil Town • Aug 8, 2018 Originally published Aug 8, 2018

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Phil Town lays out why you don't need a financial advisor to help you invest your money in a smart way.

For example, Town says that investors with advisors rarely beat the market, and the high fees that go to a financial advisor can often cut into half of your retirement savings. Financial advisors will charge you regardless if they make any money for you. Town mentions most advisors are unafraid to lose your money, since their pay is based off your initial investment.

Town provides potential alternatives for those looking to invest. Instead of giving your money to a financial advisor, you can opt to put your money into an index fund. This may yield higher returns than giving your money to a person.

You can also make money more consistently -- and without fees -- by investing in single stocks on a long-term basis.

Town explains, as an individual investor, as long as you're willing to put in the time, select a few promising companies and possess patience throughout the ups and downs, the returns will meet you.

Click play hear more about investing with financial advisors.

Related: Trouble Ahead? Why the Stock Market May Take a Major Dip in 2018.

Entrepreneur Network is a premium video network providing entertainment, ewitducation and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

EN is partnered with hundreds of top YouTube channels in the business vertical. Watch video from our network partners on demand on Roku, Apple TV and the Entrepreneur App available on iOS and Android devices.

Click here to become a part of this growing video network.

Phil Town
Phil Town is an Investment Advisor, Hedge Fund Manager, 2x New York Times Best-Selling Author of Rule #1 & Payback Time, and Ex-Grand Canyon River Rafting Guide. Rule #1 Investing is Warren Buffett style investing, teaching you how to buy businesses on sale, with little risk and 15 percent returns. In fact, Rule #1 investing is practically immune to the ups and downs of the stock market.

Related Topics

More from Phil Town

How to Find a Stock On Sale That's Right for You

3 Bad Investing Habits You Should Drop Before It's Too Late

Nervous About Investing? Think About Your Money This Way.

How to React When a Recession Is Approaching

Editor's Pick

This Co-Founder Was Kicked Out of Retailers for Pitching a 'Taboo' Beauty Product. Now, Her Multi-Million-Dollar Company Sells It for More Than $20 an Ounce.
Have You Ever Obsessed Over 'What If'? According to Scientists, You Don't Actually Know What Would Have Fixed Everything.
Most People Don't Know These 2 Things Are Resume Red Flags. A Career Expert Reveals How to Work Around Them.
Business News

Survey: A Majority of Americans Are Living Paycheck to Paycheck

Sixty-four percent of U.S. consumers live paycheck to paycheck — even those who earn more than $100,000 a year.

Business Ideas

55 Small Business Ideas To Start Right Now

To start one of these home-based businesses, you don't need a lot of funding -- just energy, passion and the drive to succeed.

Business Solutions

5 Procurement Trends To Keep on Your Radar for 2023

Procurement professionals must adapt to inflation and a shortage of skilled labor in the face of an economic recession. Investing in a workforce paired with retraining and development strategies will put your company on top amid economic uncertainty.

Thought Leaders

How to Make Money in Logistics and Shipping as a Freight Broker

Being a freight broker can be a lucrative career, but it requires sidestepping these 10 common mistakes.

Business News

Massive Fire At Top Egg Farm Leaves Estimated 100,000 Hens Dead. What Does This Mean For Egg Prices?

Hillandale Farms in Bozrah, Connecticut went up in flames on Saturday in an incident that is still under investigation.

Business News

'This Just Can't Be for Real': Fyre Festival Fraudster Billy McFarland is Now Hiring For His New Tech Company -- And He's Already Selling Merch

McFarland was released from house arrest last September and is currently being ordered to pay $26 million in restitution to fraud victims.