Dr. Daniel Crosby

Yeah.

So the thing that I would say, I'd follow up on your commentary on financial advice.

You got all those stats right.

That's a great summation of that study.

But you're exactly right.

Most people need a financial advisor, but not for the reason that they think.

The reason that they think they're going to a financial advisor is to pick next year's hottest asset class or to sort of see the future economically.

Financial advisors are no better at that than the next person.

The reason people who stay with a financial advisor long term tend to outperform those who do it themselves is because that financial advisor has a personal and a financial incentive to keep them in their seat.

You know, that that financial advisor has the voice of reason in times of turmoil and

So in terms of the big picture, I feel like I'm sort of giving you the answer to the test here.

But if you're going to do three things right with your money, there's three E's that I think you need to get correct.

So the first E is education.

You need to know the language of money.

You need to know how compound interest works.

You need to know how fees work and how they erode performance.

You need to know how diversification works.

You need to know how debt works.

You need to speak the language of basic finance and basic investing properly.

you need some level of education.