Phil Town

And yet it's the only math there is.

And so everybody just keeps going.

And the basics of what you find when you move your money over to a robo-advisor is that they're going to pretend that they can use volatility as a reference point for risk.

And then they're going to build a portfolio

around the level of risk that you say you're willing to take.

And what you'll notice when you get involved with these kinds of advisors, either robo advisors or actual advisors, mostly, is they hand you a little questionnaire and they say, you know, basically, please tell us how much risk you want to take and how much return you want to get, which is crazy.

I mean, everybody who would fill this out would say, well, I want almost no risk and I want a very high rate of return, but they don't give you that as a possible question.

So

They pretend that they can build these sort of low risk or high risk portfolios and adjust them for how much money you want to make when it's absolute fantasy.

They can't do it.

So if you invest in those guys, what you're going to get is, as you say, about whatever the index is.

And unfortunately, for the vast majority of people in this country, that's not going to cut it.

A five percent return or a four percent return, whatever the index is going to do over the next 20 years.

is going to leave an enormous piece of America struggling to survive in retirement.

What I think you have to do is I think you have to learn how to invest on your own.

I think that's the critical thing.

Well, I got to tell you, man, you got a choice in my view.

Basically, you got three things.

You can put your money out there and the financial advisors will tell you you're going to make five to seven percent.

And that's just simply not going to work.