Ep 77: Financial Half-Truths

Is that the whole truth and nothing but the truth? So often we hear these financial concepts but don’t get the full picture of what’s going on and what to look for. Sean shares what you really need to know.

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The View From The Pinnacle

Is that the whole truth and nothing but the truth? So often we hear these financial concepts but don’t get the full picture of what’s going on and what to look for. Sean shares what you really need to know.

Click the timestamps below to fast forward to certain points of the episode.

Thing’s You’ll Learn Along Today’s Journey

Let’s talk about financial half-truths that you may hear or say in the financial world. Part of it may be true, but are you getting the full story? Which of these statements have you heard and do you know the whole truth?

For instance, you might be told to not worry about losses because it always comes back in the market. This is somewhat true, especially for those in their 30s. But if you’re about to head into retirement, there’s a different strategy you need to consider.

When you hear that the fees are less than one percent, what does that actually mean? Is that the advisory fee? Are you getting what you’re paying for in terms of value and service? Looking at your mutual funds, there’s a good chance you’re paying more than one percent once you layer on the fees together.

Is diversification the ultimate key to your financial plan? It’s a piece of the plan and how you build it, but there’s a lot more to your financial plan than that. People often misunderstand what diversification is. Diversification is not asset allocation. Sean talks through the differences of each one and what you need to keep in mind with your portfolio.

Listen to the entire episode or skip ahead using the timestamps below.

0:20 – What are Sean’s and Marc’s favorite holidays?

2:05 – “Don’t worry about those losses.”

5:25 – “The fees are less than one percent.”

7:43 – “Diversification is key.”

 

Looking Back From The Mountaintop

“People misunderstand what diversification actually is in a lot of instances. Diversification is not asset allocation.”

-Sean Lee

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For over a decade, Sean Lee has helped families reach and maintain their financial goals. As a trusted advisor, he coaches and assists his clients with their financial goals by focusing on the fundamentals and takes a practical and personal approach when working with them.

As a trusted professional in Utah, Sean has been featured in The Wall Street Journal’s Market Watch, The Deseret News, The Salt Lake Tribune and USA Today. He has also been featured as a local financial advisor on Utah’s NBC station, KSL 5.

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