Money For the Rest of Us
Vacation Special: A Conversation with Michael Port
May 31, 2017
In this interview with Michael Port, they discuss asset allocation, business, healthcare, minimalist investing, roboadvisors, our emotional relationship with money, and selecting a financial advisor. They also explore the advantages of starting your own business, the benefits and limitations of robo-advisors, and the importance of gaining more education on investing.
01:03:37
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Quick takeaways
- Experienced investors should consider opening accounts directly with brokerage firms instead of relying solely on robo-advisors for investment opportunities.
- When seeking financial advice, it is recommended to pay advisors a fee for a financial plan on a project basis, rather than paying them to manage assets, in order to receive unbiased advice.
Deep dives
Robo-advisors are a good option for beginner investors
Robo-advisors offer a simple and convenient way for beginners to invest. They provide diversified portfolios of ETFs and have user-friendly interfaces. However, more seasoned investors may want to go beyond robo-advisors and open accounts directly with brokerage firms like Vanguard or Schwab.
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