🚨 I’ll be live at 11:30 a.m. ET with Jeffry Turnmire🚨
We’ll discuss why a 40% annualized return is the sweet spot in the triple income strategy, the 90 percent cash utilization rule and more [tap to join us for Market Masters]
I’ve been asked to do a lot of things over the years. But getting dragged into picking a financial adviser for someone else is at the top of my list of things I never want to do again.
It happened twice…
The first time was for a huge lawsuit involving a minor — they wanted me to either manage the money myself or pick the adviser. I chose to pick the adviser, and that was tough.
The second time was for a family member who came into a ton of money and wanted a pro to handle it. Again, I didn’t want to do it.
Both times were difficult because, in the end, you have to tell them exactly what you want. If you don’t set expectations clearly from the start, the whole thing goes sideways fast.
And here’s why.
The First Proposal Was a Disaster
The first proposal I looked at had so many redundant mutual funds in it that it was ridiculous. And I hate mutual funds, so right there we got off on the wrong foot.
Over-diversification — that’s the problem. Cookie-cutter allocation models filled with overlapping funds. No focus. No strategy.
Just layers of fees wrapped around the same exposure repeated five different ways. It’s not sophisticated — it’s lazy.
When I reviewed the proposal, what I ended up telling the adviser was simple: Do what I tell you to do. Don’t come up with any great ideas. I’ll tell you what to do.
Clear direction was the only way to keep things from spiraling into the usual template-driven nonsense.
If you ever deal with an adviser, clarity isn’t optional — it’s mandatory. You have to lay out what you expect, how you want things handled and what you absolutely will not tolerate.
Sometimes You Don’t Need an Adviser at All
Here’s the other thing: In some cases, the money you get isn’t money you want to risk. In those situations, you might not need a financial adviser at all.
You could simply park it in the U.S. Treasury 3-Month Bill ETF (TBIL).
TBIL is safe, liquid and has no drama. If someone comes into a windfall — lawsuit settlement, inheritance or something similar — and the goal is preservation, not growth, why overcomplicate it?
Why pay someone 1% a year to put you in a basket of mutual funds that all own the same stuff when you could park the money in short-term Treasurys and sleep at night?
For many people, the simple solution is the best one. Track spending, keep risk low, avoid products you do not understand and use straightforward vehicles like Treasury ETFs.
You’d be surprised how much you can accomplish without bringing a pro into the mix. I’m not saying everyone should manage their own money.
But if you’re going to hire someone, make sure they’re not just filling a template. Make sure they understand your goals and make sure you’re not paying for over-diversification disguised as expertise.
Because at the end of the day, it’s your money. And you should know exactly where it’s going.
Trade well,
Jack Carter
Jack Carter Trading
Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!
- Telegram: //t.me/jackcartertrading1
- YouTube: //www.youtube.com/@FinancialWars
Important Note: No one from the ProsperityPub team or Jack Carter Trading will ever contact you directly on Telegram.
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. This Trading Approach Goes Against Everything You Know
Lean closer…
What you’re about to see goes against everything you’ve been taught about options — flipping traditional wisdom upside down.
Here’s what’s actually incredible. This setup is built for the exact kind of volatility we’re seeing in today’s market.
Here’s what’s actually incredible. This setup is built for the exact kind of volatility we’re seeing in today’s market.
It’s already weathered some of the market’s most volatile storms in the past, and I’m trusting it to take us through these fresh yet chaotic waters.
I can’t make absolute trading guarantees, of course.
But if you’d like to see how I plan to go after the market armed with this unconventional setup — and even tag along if you choose…
