October 24, 2025 • 14 mins
We're diving into the nitty-gritty of whether you really need a financial advisor or if you can just wing it on your own. Spoiler alert: trust is the name of the game! A whopping 25% of Americans are working with financial advisors because they value that trust factor. But hey, not everyone thinks they can afford one, or even knows where to find one. What’s a Financial Advisor, and Do I Need One for Investing? We're unpacking all that today, sharing some mind-blowing stats, and discussing the pros and cons of bringing in a pro versus going solo. So grab your headphones and let’s break it down together!
Check out the full podcast episode here
Diving into the world of investment advisors is like stepping onto a rollercoaster – thrilling, a little scary, but totally worth it if you buckle up right! So, we kick things off by revealing some eye-opening stats: about 25% of Americans are cozying up with a financial advisor. That’s right, one in four folks are trusting someone else to steer their financial ship. And guess what? Trust is the name of the game here! A whopping 70% of people say that trust is what they look for when choosing an advisor. This episode isn't just a numbers game, though. We dig into why so many are hesitant to seek help, with nearly half of adults thinking advisors are just for the rich. Spoiler alert: that’s a myth! We chat about how having an advisor can actually save you money and stress in the long run. So, whether you're thinking about flying solo or teaming up with a pro, we break down the pros and cons to help you figure out what’s best for your financial journey!
Takeaways:
- About one in four Americans work with a financial advisor, which is pretty surprising, right?
- Trust is the number one factor when choosing a financial advisor, so keep that in mind.
- Nearly 95% of folks who pay for an advisor say it's totally worth it—like, wow!
- Many people believe that financial advisors are just for the wealthy, but that's a myth.
- Almost 60% of adults want financial advice but have no clue where to find it, which is a bummer.
- Using an advisor provides peace of mind and helps you avoid emotional investment mistakes.
Links referenced in this episode:
💛 Join the Financially Confident Christian Community
If today’s episode encouraged you, we’d love to invite you to be part of something bigger — the Financially Confident Christian Community.
This is where faith and finances come together — a growing family of believers supporting one another, sharing encouragement, and helping spread God’s truth about money.
Your membership helps keep the show free for everyone while funding new devotionals, study guides, and outreach resources.
👉 Learn more and join the mission at financiallyconfidentchristian.com/join
Together, we’re helping believers everywhere break the cycle of financial shame and live with confidence in Christ. 🙏
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Listen to this again. I got tothank Abby for these statistics,
but these are fantastic. We'retalking about investment advisors
today. About one in fourAmericans currently works with a
financial advisor. One infour, 25%. I was actually kind of
surprised by that. And thosewho were asked, what's the one factor
(00:20):
that people look for? Trustwas the number one thing. So it's
all about trust. Trustingsomebody with 60 or 70% saying that
matters the most, that trust.And here's another interesting statistic,
and this comes from Magnifymoney back in 2022, but I think it's
still relevant today. Nearly95% of those who pay for an advisor
(00:41):
say it's worth the cost. So 1in 4Americans, 60, 70% say it's trust.
And 95%, I thought that was awhopping number. Pay an advisor,
say it's worth, worth thecost. But you might be listening
right now. You're like, raph,I don't have a financial advisor.
So why do so many people holdback and not invest in that? This
(01:02):
is from Financial Advisormagazine. Almost half of U.S. adults
thinks advisors are tooexpensive or only for the wealthy.
Hey, we talked about this allthrough this series on investments.
There's this belief that youhave to be a wealthy person to be
able to afford an advisor. Andlisten to this statistic. This was
(01:23):
actually kind of shocking tome. 59% say they want financial advice
but don't know where to getit. Well, let's get right to that
question. Got this questionfrom one of our listeners today.
And this just absolutely takeshome exactly what we're talking about.
Said this, Ralph, do I reallyneed a financial advisor or can I
(01:43):
just handle investing on myown? What a great question. See,
many people are thinking thesame thing you're thinking. I'm so
happy you sent that in becausethis is so valuable for today. Many
people weigh the cost of anadvisor against the benefits. Listen,
I'm an accountant. That's whatI do for a living. Cost versus value
benefits. And here's thething, if you do it yourself, it's
(02:06):
absolutely going to becheaper. You're going to save fees
and you're going to stay incontrol of things. But the problem
is when you're doing ityourself, you don't have any help.
It's pretty straightforwardand simple, isn't it? So what does
an advisor bring to the tablewhen advisor offers strategic guidance
on things like taxes, on howto build that retirement. And my
(02:27):
big takeaway for today, andthis is why I actually use an investment
Advisor is for peace of mind.So now you're thinking, okay, Ralph,
you've given me both sides ofthis, but how do I decide what is
the best thing for me? Andthat's what we really need to talk
about on today's show. Do youreally need a financial advisor or
is do it yourself investingenough? I'll give you a part of the
(02:50):
answer right now. It dependson your situation. But let's unpack
this when I can tell youexactly how to do this. When advice
matters the most, let's handlethat on today's show. This is Financially
Confident Christian, yourdaily dose of gospel, grounded insight
and faith driven tips to helpyou break the cycle of financial
shame with confidence. Hellothere. Welcome to the show. I'm Ralph.
(03:14):
Thank you for joining me againtoday. As we continue in this final
week of our 30 day investmentseries, we've been talking all about
all kinds of investments forpeople just like you. People just
like me. Not super wealthypeople, but people who are just looking
to have a little bit of extraincome. That passive income, which
is exactly what we talkedabout on yesterday's show, how to
be the boss of your money andhow to put your money to work for
(03:37):
you. So if you missed that,I'm going to encourage you to check
it out. You can find all ofour episodes at Financially Confident
Christian. Yesterday we talkedagain about wise planning, diverse
income streams and faithfulstewardship. Now gets it back to
the question of today. Why doI need a financial advisor? Well,
honestly, that's kind of whatI do for a living. Now I don't do
(03:58):
investment advising, but tohelp people with tax strategies.
Help people with investmentstrategies. And listen, I'm not tooting
my own horn, but I've seenwhere this adds real value to people.
And as an accountant, as acoach, I've seen how this has helped
people recognize when they canhandle things on their own. And guess
what? Sometimes it's a littletoo complicated. It's gotten a little
(04:19):
too complex. And I'll neverforget, I had a client who refused
to use advisors. He would comein every year, I would do his taxes
and he said, ralph, I don'tneed a financial advisor. I'm not
paying no seeds. They charge amin. Ralph, I can do this on my own.
Listen, I've got a computer,I've got the Internet, I can go read
all the things. And guesswhat, Ralph, I'll do better than
they can do. And I said, okay,I hear what you're saying. But he
(04:41):
started to develop somewealth. He started to have more complex
things. And I said, listen, Isaid, go talk to an investment advisor.
I'm going to encourage you todo that too. We'll talk a little
bit of that later in the show.But I encourage him. When he finally
met with one, he said, ralph,you're never going to believe this.
I found things that I wasdoing completely wrong. I said, you
think so? He actually took myadvice. He found some new opportunities.
(05:03):
When he ended up going intothose opportunities, I was able to
hack them, actually help himfind some new tax saving strategies.
And at the end of the day, hesaid, ralph, I wish I had known.
Or better yet, he said, I wishI had done this 10 years ago. Which
leads me to this verse fromthe Bible today. Comes from Proverbs
15:22. And it reminds us this,and I've used this on this show a
(05:26):
million times. Plans fail forthe lack of counsel. But with many
advisors, they succeed. Andthis is what this client learned.
The right advice can changeeverything. And you're not going
to get that advice if youdon't reach out and talk to somebody.
So let's get into the keypoints for today, the real meat and
potatoes of what we're talkingabout today. By using an advisor,
(05:49):
you're going to get guidance.They're going to show you what you
can do. And listen, when youwork with an advisor, they're going
to understand your beliefstructure, they're going to understand
your tolerance for risk.They're going to understand the things
that you want to invest in.That's really important. So make
sure you choose the rightadvisor. We'll talk about that in
another show. But advisorsprovide that guidance. They can provide
(06:09):
that planning. What did theBible say? Plans fail for lack of
counsel. So the Bible'stelling us find that planning. And
one of the things I reallylove about investment advisor. And
listen, my investment advisorhas caught me on this one a few times
as well. Accountability. Therehave been times when I'll call up
my advisor. His name'sactually Remo. I say, remo, we got
to sell this, man. The marketis crashing. He's like, ralph, hold
(06:30):
on a second, dude, calm down.Long term view. So that's the thing.
They're going to bringguidance, they're going to bring
planning and accountability.Now there are some pros to that.
As we talked about, theexpertise of those people, people
like me, I've been doing thisfor 30 years. A lot of investment
advisors have a ton ofschooling. They know what the markets
do. The other thing like Remobrings for Me, objectivity. He understands
(06:53):
both sides of this. He's notgoing to react emotionally. And that
long term belief, that longterm strategy, which is so important.
If you didn't hear anythingelse I've talked about over the past
30 days in investments, yougot to have that long term strategy.
Now I might be saying rap.Okay, You've painted a beautiful
picture, man. That's a nicelooking house. White picket fence.
It looks great. But there'sgot to be some downsides, Rafa. Of
(07:14):
course there are. One of thedownsides is they cost money. Of
course. You get what you payfor in life, though, they are going
to cost you something. Mybigger downside, or my biggest con
is that not every visor isequally trustworthy. So as I said,
what did the statistics thatAbby helped us start with today?
Trust. That's what you got tofind somebody you trust. But when
(07:37):
your goals are getting morecomplex and your accounts are getting
larger, that's when you reallyneed to lean into the idea of finding
an advisor. I'm gonna give youa little pro tip right now. Look
for an advisor who's afiduciary. Now, it's a big fancy
term, but a fiduciary issomebody that works in your best
interest. They have afiduciary responsibility for you.
(07:57):
You don't want some clientjust selling you investments. That's
why I'm not a big fan ofbanks. Banks claim to sell investments,
so what they're doing isthey're selling you a product. I
don't like product salesmen inthis area look for what's called
a fiduciary. You'll see someinvestment advisors advertising on
TV sometimes, and they'll saythey're not just an advisor, they're
(08:17):
a fiduciary. That's whatyou're really looking for, a fiduciary,
someone who acts in your bestinterest. Because here's the truth.
Advisors can help simplifydecisions and bring you peace of
mind. My guy, Remo, he bringsme objectivity because there are
many times when I'm like, sellit all. Remo, he's like, ralph, relax,
dude. We gotta think longterm. He helps me break down those
(08:38):
emotional investment mistakes.And listen, if we're gonna be honest
with each other, ask yourselfright now, how many times have you
reacted emotionally? Maybeit's not in investments, but, man,
I get myself in trouble. Mymarriage, all the time wife and I'll
be having some words and I actemotionally. It never ends up good,
does it? Well, financialthings work the same way. When we
react emotionally, we're gonnamake mistakes. But understand the
(09:03):
costs vary. Like I said, I'mgoing very transparent about this.
Make sure there's value andmake sure those values are outweighing
the fees. Because I've workedwith some clients, their investment
advisors charge a ton ofmoney. I'm like, wait a minute, this
guy's not doing anything foryou. So understand the cost, understanding
what they're, what you'repaying for and the value you're getting.
Like I said, remember thatfiduciary thing? Because not all
(09:23):
investment advisors are equal.Research them, go meet with them,
ask them tough questions. Askthem their philosophy. Ask them how
many times they're going tohear from you a year. Ask them how
approachable they are. Findone with integrity. I dare say find
one. That's a Christiandevice. Just a Christian show. Most
of the time, people coming tome, they're Christian people. Go
(09:43):
ask them that question. Ithink it's totally fine to say to
an investment advisor, what isyour belief system? Because one of
the things we talked about aweek or so ago is value based investing.
Make sure they understand it.You want to invest in things that
meet your value structure. Thetruth is, if your finances are very
straightforward, you may notneed one yet. I'm going to use that
(10:04):
word yet because it's soimportant to think about that. But
as they get more complex, asyou start to build those savings,
if you're doing the things wetalk about on the show, the truth
is good advice can save youthousands of dollars. Trust me on
this. I was one of thosepeople that was on the fence. Oh,
I can do this myself. I've gota MBA from the university. I can
(10:24):
do this. I don't need aninvestment advisor. And I finally
broke down. I went and metwith somebody and he showed me all
the things that I could dobetter. And since I switched to him,
man, the things are lookingbetter. Let's get right into our
Bible verse today. I know Italked about a Bible verse early,
but I want to go back to thisone again because I really want to
reinforce this. I want you tokind of paint this one in your whole
investment strategy again.That's Proverbs 15:22. Plans fail
(10:48):
for lack of counsel, but withmany advisors, they succeed. This
is what we're talking abouttoday. Build those plans, but find
that counsel. And guess what?I've got another bonus verse today.
This one comes from the bookof James. This is from James, Chapter
one, verse five. And we'regoing to reinforce it if Any of you
lacks wisdom, you should askGod, who gives generously to all
(11:10):
without finding fault, and itwill be given to you. Those are really
two things to really anchoryour belief structure as it relates
to investments. Go find thatcounsel if you lack wisdom. Listen,
I don't expect you to be afinancial guru. Listen, this is what
I do for a living and I have afinancial advisor. So I encourage
you today, go do that. Howabout we pray together? Lord, we
(11:31):
just thank you today forbringing us this message of hope
and this message ofunderstanding what this can look
like in our lives. Lord, weask you to give us discernment. Help
us choose whether we need toseek a professional. And then if
we decide that we're going toseek one, Lord, help us to find the
right one. Lead us to somebodywho's wise, Lead us to somebody who's
trustworthy, and lead us tosomebody that will share our values
(11:54):
and help us build that kingdomimpact. And we just thank you for
giving us counsel through bothyour word and also through wise people
that you've put in front ofus. Lord, we just thank you in the
name of Jesus. Amen. So here'smy one action item for you today.
If you've never spoken with afinancial advisor, I'm going to encourage
you. Schedule freeconsultation with somebody. You don't
(12:15):
have to pay for this at all.Maybe they'll do a zoom call. They'll
do a phone call. Go meet withthem. Just schedule a call. Go sit
down with them, get an idea ofwhat they can do for you. If it's
not the right fit, walk outthe door and go meet with somebody
else. Learn what they offerand whether it fits your needs. So
let's recap for just a minute.Advisors provide expertise and accountability,
(12:35):
but like I said, there's acost for that. Not all advisors are
equal. It's all aboutintegrity and trust. Those things
are essential. Like I said, doit yourself may be fine for simple
cases, but. But wisdommultiplies with counsel. What's God
calling us to do? He's callingus to seek wise guidance for your
success. So my key takeawaytoday, seek wise counsel when needed.
(12:59):
Not everyone requires anadvisor. It's not some one size fits
all. And the right choicebalances your goals, complexity,
and trust. Well, make sure youjoin me tomorrow. We're going to
talk about understandingbehavioral finance when emotions
affect your investing. Becauseso many people make rash emotional
decisions when it comes toinvesting. And guess what? Most of
the time, they're the wrongdecisions. Well, today I want to
(13:21):
offer you something. I justfinished penning my third book. The
name of the book is called howto Become a Financially Confident
Christian. And I wouldencourage you right now, you can
get an absolutely free copy ofthis book. You can go right to this
website and download it. Iwant you to share this book with
friends, share it with family.Hey, maybe even share it with your
church group. It's 30 years ofme working with clients to help them
build that financialconfidence. You can get a copy right
(13:44):
now, today, absolutely free bygoing to financiallyconfidentchristian.com
becoming get your copy today.And guess what? Share that website
with as many people as youknow. I don't care. Send it to everybody.
Again, that'sfinanciallyconfidentchristian.com becoming
in the end, the choice isyours. Whether you do it yourself
or you choose an advisor. I'mnot telling you they can't work.
(14:06):
Both can work. What matters inthe end is having a clear plan. Peace
of mind will always beatguesswork. So today, go be that financially
confident Christian. Stayfinancially savvy. God bless you.
And you have a great day today.
Listen to this again. I got tothank Abby for these statistics,
but these are fantastic. We'retalking about investment advisors
today. About one in fourAmericans currently works with a
financial advisor. One infour, 25%. I was actually kind of
surprised by that. And thosewho were asked, what's the one factor
(00:20):
that people look for? Trustwas the number one thing. So it's
all about trust. Trustingsomebody with 60 or 70% saying that
matters the most, that trust.And here's another interesting statistic,
and this comes from Magnifymoney back in 2022, but I think it's
still relevant today. Nearly95% of those who pay for an advisor
(00:41):
say it's worth the cost. So 1in 4Americans, 60, 70% say it's trust.
And 95%, I thought that was awhopping number. Pay an advisor,
say it's worth, worth thecost. But you might be listening
right now. You're like, raph,I don't have a financial advisor.
So why do so many people holdback and not invest in that? This
(01:02):
is from Financial Advisormagazine. Almost half of U.S. adults
thinks advisors are tooexpensive or only for the wealthy.
Hey, we talked about this allthrough this series on investments.
There's this belief that youhave to be a wealthy person to be
able to afford an advisor. Andlisten to this statistic. This was
(01:23):
actually kind of shocking tome. 59% say they want financial advice
but don't know where to getit. Well, let's get right to that
question. Got this questionfrom one of our listeners today.
And this just absolutely takeshome exactly what we're talking about.
Said this, Ralph, do I reallyneed a financial advisor or can I
(01:43):
just handle investing on myown? What a great question. See,
many people are thinking thesame thing you're thinking. I'm so
happy you sent that in becausethis is so valuable for today. Many
people weigh the cost of anadvisor against the benefits. Listen,
I'm an accountant. That's whatI do for a living. Cost versus value
benefits. And here's thething, if you do it yourself, it's
(02:06):
absolutely going to becheaper. You're going to save fees
and you're going to stay incontrol of things. But the problem
is when you're doing ityourself, you don't have any help.
It's pretty straightforwardand simple, isn't it? So what does
an advisor bring to the tablewhen advisor offers strategic guidance
on things like taxes, on howto build that retirement. And my
(02:27):
big takeaway for today, andthis is why I actually use an investment
Advisor is for peace of mind.So now you're thinking, okay, Ralph,
you've given me both sides ofthis, but how do I decide what is
the best thing for me? Andthat's what we really need to talk
about on today's show. Do youreally need a financial advisor or
is do it yourself investingenough? I'll give you a part of the
(02:50):
answer right now. It dependson your situation. But let's unpack
this when I can tell youexactly how to do this. When advice
matters the most, let's handlethat on today's show. This is Financially
Confident Christian, yourdaily dose of gospel, grounded insight
and faith driven tips to helpyou break the cycle of financial
shame with confidence. Hellothere. Welcome to the show. I'm Ralph.
(03:14):
Thank you for joining me againtoday. As we continue in this final
week of our 30 day investmentseries, we've been talking all about
all kinds of investments forpeople just like you. People just
like me. Not super wealthypeople, but people who are just looking
to have a little bit of extraincome. That passive income, which
is exactly what we talkedabout on yesterday's show, how to
be the boss of your money andhow to put your money to work for
(03:37):
you. So if you missed that,I'm going to encourage you to check
it out. You can find all ofour episodes at Financially Confident
Christian. Yesterday we talkedagain about wise planning, diverse
income streams and faithfulstewardship. Now gets it back to
the question of today. Why doI need a financial advisor? Well,
honestly, that's kind of whatI do for a living. Now I don't do
(03:58):
investment advising, but tohelp people with tax strategies.
Help people with investmentstrategies. And listen, I'm not tooting
my own horn, but I've seenwhere this adds real value to people.
And as an accountant, as acoach, I've seen how this has helped
people recognize when they canhandle things on their own. And guess
what? Sometimes it's a littletoo complicated. It's gotten a little
(04:19):
too complex. And I'll neverforget, I had a client who refused
to use advisors. He would comein every year, I would do his taxes
and he said, ralph, I don'tneed a financial advisor. I'm not
paying no seeds. They charge amin. Ralph, I can do this on my own.
Listen, I've got a computer,I've got the Internet, I can go read
all the things. And guesswhat, Ralph, I'll do better than
they can do. And I said, okay,I hear what you're saying. But he
(04:41):
started to develop somewealth. He started to have more complex
things. And I said, listen, Isaid, go talk to an investment advisor.
I'm going to encourage you todo that too. We'll talk a little
bit of that later in the show.But I encourage him. When he finally
met with one, he said, ralph,you're never going to believe this.
I found things that I wasdoing completely wrong. I said, you
think so? He actually took myadvice. He found some new opportunities.
(05:03):
When he ended up going intothose opportunities, I was able to
hack them, actually help himfind some new tax saving strategies.
And at the end of the day, hesaid, ralph, I wish I had known.
Or better yet, he said, I wishI had done this 10 years ago. Which
leads me to this verse fromthe Bible today. Comes from Proverbs
15:22. And it reminds us this,and I've used this on this show a
(05:26):
million times. Plans fail forthe lack of counsel. But with many
advisors, they succeed. Andthis is what this client learned.
The right advice can changeeverything. And you're not going
to get that advice if youdon't reach out and talk to somebody.
So let's get into the keypoints for today, the real meat and
potatoes of what we're talkingabout today. By using an advisor,
(05:49):
you're going to get guidance.They're going to show you what you
can do. And listen, when youwork with an advisor, they're going
to understand your beliefstructure, they're going to understand
your tolerance for risk.They're going to understand the things
that you want to invest in.That's really important. So make
sure you choose the rightadvisor. We'll talk about that in
another show. But advisorsprovide that guidance. They can provide
(06:09):
that planning. What did theBible say? Plans fail for lack of
counsel. So the Bible'stelling us find that planning. And
one of the things I reallylove about investment advisor. And
listen, my investment advisorhas caught me on this one a few times
as well. Accountability. Therehave been times when I'll call up
my advisor. His name'sactually Remo. I say, remo, we got
to sell this, man. The marketis crashing. He's like, ralph, hold
(06:30):
on a second, dude, calm down.Long term view. So that's the thing.
They're going to bringguidance, they're going to bring
planning and accountability.Now there are some pros to that.
As we talked about, theexpertise of those people, people
like me, I've been doing thisfor 30 years. A lot of investment
advisors have a ton ofschooling. They know what the markets
do. The other thing like Remobrings for Me, objectivity. He understands
(06:53):
both sides of this. He's notgoing to react emotionally. And that
long term belief, that longterm strategy, which is so important.
If you didn't hear anythingelse I've talked about over the past
30 days in investments, yougot to have that long term strategy.
Now I might be saying rap.Okay, You've painted a beautiful
picture, man. That's a nicelooking house. White picket fence.
It looks great. But there'sgot to be some downsides, Rafa. Of
(07:14):
course there are. One of thedownsides is they cost money. Of
course. You get what you payfor in life, though, they are going
to cost you something. Mybigger downside, or my biggest con
is that not every visor isequally trustworthy. So as I said,
what did the statistics thatAbby helped us start with today?
Trust. That's what you got tofind somebody you trust. But when
(07:37):
your goals are getting morecomplex and your accounts are getting
larger, that's when you reallyneed to lean into the idea of finding
an advisor. I'm gonna give youa little pro tip right now. Look
for an advisor who's afiduciary. Now, it's a big fancy
term, but a fiduciary issomebody that works in your best
interest. They have afiduciary responsibility for you.
(07:57):
You don't want some clientjust selling you investments. That's
why I'm not a big fan ofbanks. Banks claim to sell investments,
so what they're doing isthey're selling you a product. I
don't like product salesmen inthis area look for what's called
a fiduciary. You'll see someinvestment advisors advertising on
TV sometimes, and they'll saythey're not just an advisor, they're
(08:17):
a fiduciary. That's whatyou're really looking for, a fiduciary,
someone who acts in your bestinterest. Because here's the truth.
Advisors can help simplifydecisions and bring you peace of
mind. My guy, Remo, he bringsme objectivity because there are
many times when I'm like, sellit all. Remo, he's like, ralph, relax,
dude. We gotta think longterm. He helps me break down those
(08:38):
emotional investment mistakes.And listen, if we're gonna be honest
with each other, ask yourselfright now, how many times have you
reacted emotionally? Maybeit's not in investments, but, man,
I get myself in trouble. Mymarriage, all the time wife and I'll
be having some words and I actemotionally. It never ends up good,
does it? Well, financialthings work the same way. When we
react emotionally, we're gonnamake mistakes. But understand the
(09:03):
costs vary. Like I said, I'mgoing very transparent about this.
Make sure there's value andmake sure those values are outweighing
the fees. Because I've workedwith some clients, their investment
advisors charge a ton ofmoney. I'm like, wait a minute, this
guy's not doing anything foryou. So understand the cost, understanding
what they're, what you'repaying for and the value you're getting.
Like I said, remember thatfiduciary thing? Because not all
(09:23):
investment advisors are equal.Research them, go meet with them,
ask them tough questions. Askthem their philosophy. Ask them how
many times they're going tohear from you a year. Ask them how
approachable they are. Findone with integrity. I dare say find
one. That's a Christiandevice. Just a Christian show. Most
of the time, people coming tome, they're Christian people. Go
(09:43):
ask them that question. Ithink it's totally fine to say to
an investment advisor, what isyour belief system? Because one of
the things we talked about aweek or so ago is value based investing.
Make sure they understand it.You want to invest in things that
meet your value structure. Thetruth is, if your finances are very
straightforward, you may notneed one yet. I'm going to use that
(10:04):
word yet because it's soimportant to think about that. But
as they get more complex, asyou start to build those savings,
if you're doing the things wetalk about on the show, the truth
is good advice can save youthousands of dollars. Trust me on
this. I was one of thosepeople that was on the fence. Oh,
I can do this myself. I've gota MBA from the university. I can
(10:24):
do this. I don't need aninvestment advisor. And I finally
broke down. I went and metwith somebody and he showed me all
the things that I could dobetter. And since I switched to him,
man, the things are lookingbetter. Let's get right into our
Bible verse today. I know Italked about a Bible verse early,
but I want to go back to thisone again because I really want to
reinforce this. I want you tokind of paint this one in your whole
investment strategy again.That's Proverbs 15:22. Plans fail
(10:48):
for lack of counsel, but withmany advisors, they succeed. This
is what we're talking abouttoday. Build those plans, but find
that counsel. And guess what?I've got another bonus verse today.
This one comes from the bookof James. This is from James, Chapter
one, verse five. And we'regoing to reinforce it if Any of you
lacks wisdom, you should askGod, who gives generously to all
(11:10):
without finding fault, and itwill be given to you. Those are really
two things to really anchoryour belief structure as it relates
to investments. Go find thatcounsel if you lack wisdom. Listen,
I don't expect you to be afinancial guru. Listen, this is what
I do for a living and I have afinancial advisor. So I encourage
you today, go do that. Howabout we pray together? Lord, we
(11:31):
just thank you today forbringing us this message of hope
and this message ofunderstanding what this can look
like in our lives. Lord, weask you to give us discernment. Help
us choose whether we need toseek a professional. And then if
we decide that we're going toseek one, Lord, help us to find the
right one. Lead us to somebodywho's wise, Lead us to somebody who's
trustworthy, and lead us tosomebody that will share our values
(11:54):
and help us build that kingdomimpact. And we just thank you for
giving us counsel through bothyour word and also through wise people
that you've put in front ofus. Lord, we just thank you in the
name of Jesus. Amen. So here'smy one action item for you today.
If you've never spoken with afinancial advisor, I'm going to encourage
you. Schedule freeconsultation with somebody. You don't
(12:15):
have to pay for this at all.Maybe they'll do a zoom call. They'll
do a phone call. Go meet withthem. Just schedule a call. Go sit
down with them, get an idea ofwhat they can do for you. If it's
not the right fit, walk outthe door and go meet with somebody
else. Learn what they offerand whether it fits your needs. So
let's recap for just a minute.Advisors provide expertise and accountability,
(12:35):
but like I said, there's acost for that. Not all advisors are
equal. It's all aboutintegrity and trust. Those things
are essential. Like I said, doit yourself may be fine for simple
cases, but. But wisdommultiplies with counsel. What's God
calling us to do? He's callingus to seek wise guidance for your
success. So my key takeawaytoday, seek wise counsel when needed.
(12:59):
Not everyone requires anadvisor. It's not some one size fits
all. And the right choicebalances your goals, complexity,
and trust. Well, make sure youjoin me tomorrow. We're going to
talk about understandingbehavioral finance when emotions
affect your investing. Becauseso many people make rash emotional
decisions when it comes toinvesting. And guess what? Most of
the time, they're the wrongdecisions. Well, today I want to
(13:21):
offer you something. I justfinished penning my third book. The
name of the book is called howto Become a Financially Confident
Christian. And I wouldencourage you right now, you can
get an absolutely free copy ofthis book. You can go right to this
website and download it. Iwant you to share this book with
friends, share it with family.Hey, maybe even share it with your
church group. It's 30 years ofme working with clients to help them
build that financialconfidence. You can get a copy right
(13:44):
now, today, absolutely free bygoing to financiallyconfidentchristian.com
becoming get your copy today.And guess what? Share that website
with as many people as youknow. I don't care. Send it to everybody.
Again, that'sfinanciallyconfidentchristian.com becoming
in the end, the choice isyours. Whether you do it yourself
or you choose an advisor. I'mnot telling you they can't work.
(14:06):
Both can work. What matters inthe end is having a clear plan. Peace
of mind will always beatguesswork. So today, go be that financially
confident Christian. Stayfinancially savvy. God bless you.
And you have a great day today.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!