Not entirely. AUM and other advisory fees can be paid with pre-tax dollars out of tax-deferred accounts.+2. Agreed this is a great point. It's a tax free side gig, too.
3) Doing your own financial planning and asset management is the best paying hobby/side gig available to most people. If the average advisor charges 1% and you've got a $3 million portfolio, that's a $30K side gig to be your own advisor. Seems worth spending a little time learning how to do it right eh?
This is brilliant.
Never seen this idea put better!
And the tax-free part too - exactly!
Statistics: Posted by White Coat Investor — Wed Mar 20, 2024 12:18 pm — Replies 145 — Views 14025