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?
By Phil Town •
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.
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