(written a year or so ago)
Reading Chris Hogan's Everyday Millionaires, to see if
there's anything I can learn from it. Oddly enough, though my wife and I became
everyday millionaires, and share a number of traits with the 10,000
millionaires his team interviewed for his book, I appear to have gone about it
all wrong, for the most part.
First, I have never hired a financial professional to help
me create and maintain a plan. The two times in our earlier days when we
trusted "financial planners" to put us into the right investments and
plans, they turned out to be commissioned salespeople who put us into
investment types that benefitted them and their companies, and left us with
poor returns and high fees. I did much better on my own when selecting mutual
funds in our 401K plans, and later on when I began to invest in "dividend
aristocrats" via our online brokerage account, as well as taking advantage
of ESOP plans that were available to my wife a couple of times.
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