The Truth About 401k Fees: What Your Advisor Won’t Tell You with Chris Miles

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In this episode, ex-financial planner Chris Miles joins us to uncover the hidden fees and costs of working with certified financial planners. We delve into the broader investment world, discussing the current state of real estate, private equity, and the concept of sidecar investments. Chris shares his awakening story, lessons learned from traditional financial advising, and why he transitioned to alternative investments. We also explore topics like the pitfalls of mutual funds, the real rate of return from the S&P, and the importance of diversifying beyond paper assets. Pinpointing how to act now for a financially free future, this episode offers crucial insights for anyone looking to break free from traditional investment pathways.

00:00 Introduction to Hidden Fees and Costs

00:19 Real Estate Market Trends and Challenges

02:27 Understanding Sidecar Investments

03:30 The Shift to Private Equity

05:49 Introduction to Chris Miles and Financial Planning

07:24 Chris Miles' Journey to Financial Independence

10:13 Critique of Traditional Financial Advice

13:42 The Reality of Mutual Funds and Market Returns

17:39 The Flaws in Financial Planning and Investment Strategies

29:28 A Millionaire's Journey: Luck and Strategy

30:09 The Harsh Reality of Retirement Savings

31:34 Alternative Investments: A New Perspective

32:10 The Power of Cash Flow

35:55 Diversification Beyond Paper Assets

37:14 Lessons from a Financial Advisor

37:26 The Crypto Craze and Market Timing

38:41 Real Estate: Timing and Strategy

42:54 The Importance of Diversification

50:54 The Value of Community and Mentorship

53:46 Taking Action: The Path to Financial Freedom

56:28 Final Thoughts and Personal Stories

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Lane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016.

Check out our Top-50 Investing Podcast, The Wealth Elevator.

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