FIRE your financial advisor. Immediately.

*note* this letter made more people mad than usual so I want to apologize in advance. I make some generalized comments here that aren’t true for everyone and every situation, I just personally get fired up by it. It’s not meant as serious specific advice for you personally. Enjoy :)

The term “financial advisor” recently made me extremely angry.

Who the hell gave these people the right to manage other people’s money, anyway?

Remind me again why someone who makes around 100k a year should be determining what MILLIONAIRES do with their money?

That’s like saying a 10th grader should take the game winning shot in the NBA finals instead of Lebron James.

No thanks, I’ll go with Lebron, the guy who actually knows how to shoot.

The same goes for your money.

In my humble opinion, we should all stop trusting people who never actually CREATED anything valuable (like a company) to manage the profits of a company.

This got very personal for me this week.

This is my dad, I know, we look like twins.

My dad has worked his actual a** off for 30+ years as a school administrator (mostly as a Principal).

He’s literally incredible at it.

But it’s a BEAST of a job.

Extremely stressful, long hours, and lots of people depending on him.

He’s saved up, he’s been smart.

Like most normal people, he has a retirement account, and its basically hands off from there.

Some financial advisor “manages” the money.

He showed me his portfolio the other day and I almost threw up.

I literally almost drove to wherever his “advisor” was and fist fought him.

I’m not joking.

SOMEHOW, I honestly have NO IDEA HOW, this “advisor” has VASTLY underperformed the OVERALL MARKET over the past 20 years.

Like I’m talking, if my dad had just bought the S&P 500 (a basket of all the best “stocks”).

He would have outperformed this “advisor” by over 300%.

It’s sickening.

It’s disgusting.

These people aren’t only stealing MONEY by charging fees for something that a MONKEY could do better…

They are stealing TIME.

And that’s the worst offense of all.

My dad could be retired.

He could be here in Pittsburgh with ME.

And that would be literally PRICELESS.

But no, some “advisor” decided to “manage” my dad into YEARS more work (unless we can turn it around).

So after I stopped fuming, and I tried to help my dad fix it (which he did)…

I wanted to write you all this letter to hopefully prevent some of you from making the same mistake…

Here’s what you can take to the bank.

1) The CATEGORY of assets you invest in matters WAY MORE than the individual ASSETS.

This is why stock picking and financial advisors are for idiots.

Even the BEST STOCK BROKERS ON THE PLANET CAN’T BEAT THE MARKET AS A WHOLE.

It’s been proven over and over again.

So why do you think you can?

The reason my dad’s portfolio underperformed so badly is because he was in CATEGORIES that literally make no sense.

Examples -

• Bonds (government is printing money and they yield less than a savings account)

• Oil (hello, the world is going ELECTRIC whether you like it or not)

• Blue Chip Stocks (McDonalds and Coca-Cola aren’t going to outperform Apple and Facebook).

Which leads me to my second point.

2) Diversification is so overrated it’s literally UNBELIEVABLE.

Name me one extremely rich person who got there by using a “diversified portfolio”.

I’ll wait.

And I’ll be waiting forever because it’s a lie from the devil.

Financial advisors WANT you to believe that you need to be “diversified” because that’s how they MAKE THEIR MONEY!

If it really was as simple as buying the S&P 500 and holding..

Or buying Bitcoin and holding…

Or buying Gold and holding…

WHAT THE HELL WOULD WE NEED THEM FOR???

Exactly.

Plus, regardless of that insane bias which should be illegal in my opinion.

Did I mention no one ever got rich diversifying?

The perfect example is Elon Musk.

Dude sold Paypal and pocketed 180 Million.

What did he do?

Get a diversified stock portfolio?

NO.

He put ALL of it in his 3 COMPANIES.

ALL OF IT.

He literally had to sleep on friends couches for YEARS because he didn’t have money for RENT.

Now he’s worth 100 Billion.

Summarizing, HOPEFULLY.

Obviously there are caveats to all of this.

It’s impossible to give financial advice to ANYONE because everyone is different.

A 60 year old wanting to retire needs a TOTALLY different strategy than someone like me.

But I will tell you this, you DON’T NEED A “FINANCIAL ADVISOR”.

What you need is FOCUS.

Focus on creating something VALUABLE (a product or a company) that can actually generate PROFIT.

If you don’t do that, you are already on the slow lane.

I’m sorry to break it to you, and I love my dad to death.

But no amount of years working as a Principal…

PLUS the BEST investment strategies of ALL TIME.

Would ever generate as much wealth as starting a business.

It’s literally impossible, and that’s okay, but it’s a CHOICE>

Trading your time for money isn’t going to cut it.

And you aren’t going to “invest your way” to riches anytime soon, no matter what you do.

Now with that out of the way.

Once you’ve started a business and made some real money.

When you go to invest it…

Don’t listen to the “stock pickers”.

and the “gurus”.

Pick ASSET CLASSES that MAKE SENSE.

I won’t go into this right now, you can read my other letters for that.

But let’s just say this.

If my dad had simply bought gold 20 years ago and buried it in the back yard.

He would have had a MUCH more valuable ASSET than he does today…

And it would have been even better if he would have bought the DIGITAL version of that gold..

Anyway.. see you tomorrow…

Kale

It’s 19 cents a letter to subscribe to this… that’s pretty crazy. Plz do it now if you haven’t already.

I promise to deliver you a lot more than 19 cents of value with each letter, lol.