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

📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubIn 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 Costs00:19 Real Estate Market Trends and Challenges02:27 Understanding Sidecar Investments03:30 The Shift to Private Equity05:49 Introduction to Chris Miles and Financial Planning07:24 Chris Miles' Journey to Financial Independence10:13 Critique of Traditional Financial Advice13:42 The Reality of Mutual Funds and Market Returns17:39 The Flaws in Financial Planning and Investment Strategies29:28 A Millionaire's Journey: Luck and Strategy30:09 The Harsh Reality of Retirement Savings31:34 Alternative Investments: A New Perspective32:10 The Power of Cash Flow35:55 Diversification Beyond Paper Assets37:14 Lessons from a Financial Advisor37:26 The Crypto Craze and Market Timing38:41 Real Estate: Timing and Strategy42:54 The Importance of Diversification50:54 The Value of Community and Mentorship53:46 Taking Action: The Path to Financial Freedom56:28 Final Thoughts and Personal StoriesConnect with me:LinkedIn: https://www.linkedin.com/in/lanekawaoka/Facebook: https://www.facebook.com/TheWealthElevatorInstagram: https://www.instagram.com/TheWealthElevatorLane 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. Hosted on Acast. See acast.com/privacy for more information.