Why Did I Quit Financial Advising | 551

I always say that I am an anti-financial advisor, but I used to be a financial advisor. I didn’t leave because I wasn’t making money, I was at the height of my practice when I left. It wasn’t because it was stressing me out either, it was out of pure integrity. 

Key Talking Points of the Episode
[01:10] Why did I break out of the traditional mold of financial advising?

[02:48] How I got started as a financial advisor

[03:15] Who trains financial advisors?

[09:05] Dave Ramsey’s mistake

[13:40] Real rates of return vs Average rates of return

[16:15] Using different inflation rates in the computations 

[17:00] The truth about inflation rates

[20:40] Figuring out how I could make it work

[27:35] Realizing that I had to leave

Quotables

“I couldn’t keep living a lie. I would never teach you anything that I’m not doing myself.”

“There’s a lot of assumptions that ruin everything and it is what poked little holes of doubt in my financial planning, and I had to leave.”

“When the market is going up, don’t put money in. It’s too expensive.”

“Figures won’t lie, but liars will figure.”

Links
Youtube: Money Ripples with Chris Miles
https://www.youtube.com/channel/UCJS6bPY8sm53pkjiCSuBKMA

Book: Who Took My Money
https://www.amazon.com/Rich-Dads-Who-Took-Money/dp/1612680453