I opened the door to my financial advisor’s office.
“Welcome, Mr. Hector! It’s wonderful to have you back. Can I serve you a glass with water?”
“Yes, please,” I answered with a smile while sitting on a big fluffy chair.
“Sir,” I said to the elegant investment banker, “I’m ready to invest. Let’s get my money moving in Wall Street!”
He quickly showed me a bunch of investment funds. Meanwhile, I was still sipping at my glass of water while sitting on this fancy chair.
Somehow — this was making me feel like “royalty.” I felt good. I felt proud of myself.
As months went by, my investment results were mediocre.
I called the guy. He invited me to a “private banking event.” They managed to make me feel like “royalty” again. With a bunch of graphs he convinced me to move my money out of that “mediocre” fund into another … and then another … and another …
It took me years to understand that THEY were making more money with MY money than me!
Why?
Because of my ignorance!
I “invested” my money with the financial institution because I didn’t know how to make money with my money!
Every time we moved my money around, he was making big commissions with MY money and I was taking all the risk!
To answer the question question, should you depend on investment advisor to create wealth?
No! Either YOU take control of your money, or others will.