Guinness, Alex, Dave Ramsey discussed on Dave Ramsey
What's up? Guinness longtime listener, I'm just so excited never called before. So my husband, and I are debt free, including our house white ago. Yes. Well, thank you for your teachings. We followed them all. And we are actually we are everyday millionaires. I'm a teacher. He's an electrician. And so we we've been investing the way that you recommend and you know, just out of curiosity. We finally decided to meet with an LP. We went online and found one that you your site recommended me. No Smartvestor pro for investing. Yes. Okay. Yes. Yes. Smartvestor pros. Thank you. Okay. And we met with him. And he was very. You know, we've had a lot of information for us. And then you know, the fee structure is like a percent. I guess and so why my husband, and I didn't know is since we've been investing the way that you teach since we've been, you know, we both are blessed to have pensions, we have, you know, we're only in our fifties. And we in theory, we could retire in five years it'll have to but we couldn't be comfortable. Would would it still make sense to hire a financial person for a year, at whatever I think it's like five thousand dollars for the year because they go on a five point five percent of what you're. So they're looking at they're proposing a manage a managed account for you. Correct. Okay. Yeah. A lot of the industry's gone to the manage to count approach. And so the question is what do you get for your money? That's what you come. And anytime you're investing in when I'm investing, by the way, my personal money is invested with one of our Smartvestor pros. Okay. And so the there's two ways to do investing in mutual funds upfront fees that as you do the investment they charge a fee, and then there's very low almost no annual after that or the managed account where it's a percentage of the balance every year. And now, what are you getting for that? Well, they're helping you select the funds and putting you in funds that are outperforming the market overall over a long period of time over average funds that outperformed the SNP. And of course, you've got someone to meet with and cover anytime. There's a question about anything. I if there's a change in the market, and you're worried about it or up or down anything along those lines. And there's tons of studies that say that you will come out ahead doing those two things. One is getting good advice and picking the proper funds and to not jump. Off the ledge every time somebody comes on the news and freaks out. You're probably not already not doing that one. Okay. Okay. Now, when we listen, I mean, I listen to you every day. Okay. Got that dialed in. You're not going to jump off the roller coaster and get hurt. You know? So that part of stuff. So, you know, the thing is just ask them to show you, okay? Why are you worth what's your charging? And you know, because you're touching me a fee are you worth that? And in most cases, you'll find it is that you're gonna make more than the cost of the fi in extra returns. And certainly in services in terms of you know, education that's available to you. And you know, there's eight thousand mutual funds to go through. I don't keep up with eight thousand mutual funds. I have a day job, you know, and so a life, and I don't want to do that. But those guys that's all they do all day long as comb through those funds. It's their whole world the eat live and breathe that stuff, and it's I also don't work on my own car. I could probably fix my car cheaper than the mechanic, fixes it. But it would take me longer there'd be several trial and errors along the way. I might break something in the process. And so it's worth it to me to get somebody to hook the computer up to the car that actually has the computer that hooks up to the car instead of me being a redneck laying under the hood trying to figure this out. And it's kind of like, you know, investments, I don't DIY those either I don't even do my own taxes. And I'm pretty good at this stuff. What I do. I'm a money guy got a natural bent for math and all that kind of stuff. But I don't DIY when it gets into the, you know, the dirty details so to speak. So that's why I think you're gonna find the investment is worth that the managed account is worth it. But I it's fair to ask them to show. You the typical guy does this or you've been doing this over here? But if you had been with us during that same period of time. Well, here's what we would have had you. And here's what the mix is. And you know, it would have made you. One and a half percent. More would cost you a half a percent. So you netted a full one that kind of thing it's fair question to say, hey, prove your worth, and I don't think any Smartvestor pro that we have would. Tell you that that they can't do that that they all obviously all believe that they can then then just ask them to show you good question. Alex is with us in Charlotte, North Carolina. Hi, alex. Welcome to the Dave Ramsey show. Are you doing it? I better than I deserve, sir. What's up? I've got a question. Maybe a better question for Kanter call, but it's about my career. I'm currently in baby step two, and I'm a welder at work out of town and Mike around on forty thousand a year and. I've got opportunity to go work at home. But the pay is about a third of what I make working out of town. And I'm just curious if you thought it was crazy to take a job that I'm not married yet. I'm getting married next month. So making one hundred and forty and you'd make like fifty. Yeah. Okay. At home. Martin. Where are you? Where are you working out of town? Member do not now come on. I remember world. Donald John was to be on right now. Other than a decent salary. Okay. Well, I think the answer for me would always be see none of the above. I I liked the idea coming off the road. I don't like the idea of a two-thirds pay. So I got to figure out. How can I how can I come off the road and make more money? What have I gotta do to make more money off the road or connect you some kind of a mix and say, I'm gonna be gone two weekends month. And and go do just do some OT out on the road that way and pick up some serious change at until. But is there is there a path a career path at home, whether it's owning your own shop, or.