There are basically four ways to pay financial advisors. The first one, the way you've been paying your advisor, is with loads or commissions. This means when you invest money in a mutual fund, the advisor takes some of the money you're going to invest and puts it in his or her pocket. I do not like this model because it incentivizes all the wrong kinds of behavior. So if you need an advisor, go get an advisor.
Today Dr. Dahle answers a wide variety of your questions including what HSA contribution rules are, the importance of spending money instead of just saving it, if it is a good idea to change your financial plan to take advantage of a down market and many others! He once again talks about the importance of ditching your bad financial advisors and what to do with actively managed mutual funds when you do decide to break ties with said bad advisor.
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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!
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