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The Money Alchemist Podcast

The Money Alchemist Podcast

著者： Ben Jones & Brent Gargano
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 Join two dudes, Ben and Brent, to discuss current market events and savvy financial strategies to build wealth consistently over time.The Money Alchemist 2023 個人ファイナンス 経済学
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  • The Biggest Ripoff: Understanding the True Value vs. Cost of Your Financial Advisor

    The Biggest Ripoff: Understanding the True Value vs. Cost of Your Financial Advisor
    2025/05/24

    The American proverb “you get what you pay for” is well understood but not commonly applied. Nowhere is this made more abundantly clear than in the food services industry, where people line up for cheap, borderline toxic calorie bombs to satiate their immediate cravings.

    One should not ask why healthy food is so expensive but why fast food is so cheap. The idea that a drive thru diet is lower cost is an illusion once you factor in the long-term health consequences of indulgence.

    This gets to the root of the question Ben and Brent discuss in today’s episode: where can we find the biggest rip offs in investing and how can we avoid them?

    Everyone loves a deal almost as much as they love themselves. This makes us susceptible to overconfidence errors in economic assessment.

    We find this to be especially true when it comes to purchasing financial advice. It’s also true that shopping for financial services is a highly variable experience with a non-zero chance of major trouble.

    It’s difficult to price the value of an advisor but that doesn’t stop us from trying. The simplest interpretation is to think of a financial advisor as a stock picker - someone who can help you garner an edge.

    False. In fact, if this is the pitch then that is the first sign that your non-zero chance of major trouble is now closer to 50/50. If you want an edge, run for congress. We hear they have a legal insider information scheme going on.

    Pinpointing the value of an adviser is a nuanced subject that requires discussion. As Shrek would say, it has layers. If you're shopping for advice or just wondering what high-quality advice should look like, this episode is for you!

    About your Hosts

    Ben Jones, CFP®

    Managing Director, National Wealth Management Group

    www.nwmgadvisors.com 

    Sign up for Ben’s newsletter at www.karastick.com 

    Follow him on X @thekaratstick

    https://www.linkedin.com/in/ben-nwmg/

     

    __

    Brent Gargano, CFP®

    Founder & Advisor, Infinite Wealth Planning 

    www.infinitewealthplanning.com

    Connect With Brent -> linkedin.com/in/brent-gargano-cfp®-2067b573

    ____________________ 

    Editor:

    Trevor Gargano

    Email: Trevor@trevorgargano.com

    Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/

    Website: TheDigitalQuarterback.com

    ____________________

    Follow our socials to support the podcast; see extra clips and announcements!

    Instagram: https://www.instagram.com/moneyalchemistpod/

    X: https://twitter.com/moneyalchpod

    Facebook: https://www.facebook.com/profile.php?id=61556458987483

    ____________________

     

     

    Disclosure:

    Investment advice offered through National Wealth Management Group, LLC.

    All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

    The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

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    57 分
  • Lessons From Warren Buffett: Key Takeaways on Management, Markets, and Mindset

    Lessons From Warren Buffett: Key Takeaways on Management, Markets, and Mindset
    2025/05/10
    Warren Buffett to Retire As CEO of Berkshire Hathaway When a person lives to the wise age of 94 and accumulates a networth of $168B, people tend to think he has some important things to say. Nearly 20,000 Berkshire shareholders gathered in Omaha Nebraska on May 3rd to hear the resident Oracle speak live. The annual tableau is something to behold. Thankfully there’s YouTube. What does the 5th richest man in the world know about regular living? As it turns out, quite a bit. It can be easy to dismiss the musings of a billionaire as disconnected and not applicable to the life of a plebian, but Warren Buffet should not be ignored. Not unless you are allergic to sagacious elements. Here are just a few of the takeaways we garnered from tuning in: Buffett has served under 5 managers during his life and he admired them all - he did not suffer people he didn’t respect. He maintains a keen awareness of the time he has left and invests it with judiciousness The sillier people get (in the market), the better the opportunity. Market volatility is nothing to worry about. Wouldn’t bother him if Berkshire dropped by 50% and would consider it a fantastic opportunity.Read every book about investing available to him in the library as a child, discovering his talents and investing at an early age.It’s difficult to take the position that people get what they deserve in life. But American society manages to get closer to this ideal than anywhere else. Patience is an important trait for prudent investing. Most of the time, you do not have an edge and you will only have a handful of opportunities in life where that’s not the case - best not to miss those. For more than 4 hours, the 94 year-old CEO spit wisdom from his unpretentious throne, proving once again why he’s America’s most respectable rich guy for a reason. He dashed the dreams of a few admirers, hoping to catch the corner of his slipstream by shortcut. Then he dropped a bomb announcing his retirement at year end. While the stock initially dropped in response, the transition will likely be written about as exemplary in future business textbooks. You don’t have to mirror Warren’s success to set yourself up for a meaningful life. He is a wonderful creation of auspicious birthright, talent, timing and obsession. A product of his time that cannot be replicated. Charlie Munger, Warren’s late friend and longtime business was once asked something to the effect of, “Mr. Munger, how can I be a successful investor like you?”. Munger’s response was, in a matter of words, “Well, I can tell you what I wasn’t doing. I wasn’t standing around asking people like me how to do it.” Both hilarious and accurate. I can see why he and Warren were successful and best friends. Live your life to the best of your ability by taking every opportunity given you. Soak up the abundant wisdom freely given from the people you admire. It may just equip you to see your path more clearly. Hopefully this episode can give you just a little bit of that as we discuss the life and success of Warren Buffett. ____________________ About your Hosts Ben Jones, CFP® Managing Director, National Wealth Management Group www.nwmgadvisors.com  Sign up for Ben’s newsletter at www.karastick.com  Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/   __ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com Connect With Brent -> linkedin.com/in/brent-gargano-cfp®-2067b573 ____________________  Editor: Trevor Gargano Email: Trevor@trevorgargano.com Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com ____________________ Follow our socials to support the podcast; see extra clips and announcements! Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod Facebook: https://www.facebook.com/profile.php?id=61556458987483 ____________________ Disclosure: Investment advice offered through National Wealth Management Group, LLC. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.
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    1 時間 1 分
  • Buy The Dip: Building Wealth Through Consistent Strategy, Not Perfect Timing

    Buy The Dip: Building Wealth Through Consistent Strategy, Not Perfect Timing
    2025/04/26
    Too low to sell, too cash poor to buy the dip. So laments an X user over this past week as he describes his current state of financial affairs. No one wants to be a sucker yet prudent investing requires that you subject yourself to the fickle whims of the market - all in. It’s hard not to feel like a sucker when you buy something only to watch it go on sale the next day. Unlike Costco, financial markets will not retroactively match pricing (for retail investors). This leads to a tendency to hold unproductive cash, waiting for an elusive signal for the lowest low. Only then can we brag to our spouse that we’re better than everyone else. Catching the bottom seems like it's a critical component of investment success. Pulling it off with style can even garner celebrity status and a possible Netflix deal. Having personally worked with hundreds of households over my two decade career, many of which have built substantial wealth, not a single success story can pinpoint buying a dip as its primary contributor. In fact, reserving idle cash for timed purchases hurts long-term results. Most years are positive in the stock market. Most trading days result in positive returns. It stands to reason that a diversified equity portfolio, if left alone, will produce positive results. Cash, on the other hand, will only produce a return equivalent to the prevailing 3-month T-Bill less a spread or a fee. This is usually close to the CPI stated rate of inflation. The delta between cash vs investment returns grows exponentially over time. Failure to catch a bottom results in underperformance, and that is usually the outcome. But at least this underperformance feels good in times like these. In fact, it feels so good that we often don’t pull the trigger when we should. Exactly zero normal people like getting out of a warm bed on a cold winter day. Yet, this is what success mandates. The markets feel ice cold right now because this is the media sentiment. I read and watch the same drivel you do, this article excluded or course. Most of it is pregnant with depressionary nostalgia. “Levels not seen since 1928!” Like my children, surprised when bedtime happens every night, investors act as if they are reading hyperbole as fact for the first time ever. This is your signal. This is when you buy and you will NOT catch the bottom. That requires clairvoyance, luck or enough capital to synthesize market movements. Apply within if you have any of the above. Progress on the path to wealth is made through consistent adherence to strategy. Like putting one leg in front and then the next, it is patient and without overthinking. So too should be your investing strategy. There are situations in which you might find yourself with lump sums of cash when markets are down. This is a good position to be in! Join us as we discuss what to do in these situations, as well as for some timely market prognosis! Reference Links: J.P. Morgan Guide to the Markets - PE Ratios & Equity Returns T.Rowe Price - The Cost of Cashing Out Vanguard - Staying the Course ____ About your Hosts Ben Jones, CFP® Managing Director, National Wealth Management Group www.nwmgadvisors.com  Sign up for Ben’s newsletter at www.karastick.com  Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/ ___ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com Connect with Brent --> linkedin.com/in/brent-gargano-cfp®-2067b573 ______ Editor Trevor Gargano Email: Trevor@trevorgargano.com Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com ______ Follow our socials to support the podcast; see extra clips and announcements! Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod Facebook: https://www.facebook.com/profile.php?id=61556458987483 ______  Disclosure: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  Advisors associated with National Wealth Management Group may be either (1) registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC, and investment advisor representatives of National Wealth Management Group; or (2) solely investment advisor representatives of National Wealth Management Group, and not affiliated with LPL Financial. Investment advice offered through National Wealth Management Group, a registered investment advisor and separate entity from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The information presented is for educational and informational purposes only and is not intended as a recommendation or specific ...
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    52 分

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