Wealth Management Lies - Episode 586

The Prosperity Podcast

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!

Prosperity Thinkers is proud to be an affiliate of the transformative Gravy Stack movement, helping individuals around the world unlock their potential and achieve financial freedom. By providing resources, tools, and mentorship, we contribute to creating a culture of abundance, possibility, and growth. Please note, that as an affiliate, we may receive compensation for our efforts. Our collaboration, however, goes beyond financial arrangements; we truly believe in the power of the Gravy Stack movement to change lives and foster prosperity.

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!

Do you have a question you would like answered on the show? Please send it to us at [e-mail] and we may answer it in an upcoming episode.

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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