The Prosperity Podcast Wealth Management Lies - Episode 586
In this episode of the Prosperity Podcast, hosts Kim and Spencer unpack the hidden costs of private wealth management and the impact of fees on your long-term financial health. Discover why traditional wealth managers may not be worth their fees and how opportunity costs can erode your wealth. Kim uses real-life scenarios to highlight the staggering effect these fees can have over a 30-year period. Essential listening for anyone looking to take control of their financial future!
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Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers' thinking and strategies today!
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Links and Resources from this Episode
- For resources and additional information of this episode go to https://prosperitythinkers.com/podcasts/
- http://prosperityparents.com/
- https://prosperitythinkers.com/action/
- https://www.youtube.com/@KimDHButler
- https://x.com/moizali/status/1831063524707369424?s=12&t=Wx4UH3H0WqT4Xg1RSCK9hA
Show Notes
- Defining private wealth
- Hidden cost of fees
- Long-term impact of fees
- Example of compounding fee costs
- Opportunity cost of fees
- Misunderstanding fee impact
- Critique of private wealth management
- Misaligned incentives in wealth management
- The illusion of unique advisors
- Automated trading vs. human managers
- Monkey with darts analogy
- Misalignment of interests with clients
- Importance of liquidity and cashflow
- Differentiating prosperity thinking from wealth management
Special Listener Gift Free eBook: Activating Your Prosperity Guide.
Kim Butler's groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth... and what to do instead!
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