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By Dr. Jim Dahle, WCI Founder

Most of the people who religiously follow The White Coat Investor are Do-It-Yourself (DIY) investors. They cannot imagine actually PAYING someone else to do their financial planning and investment management. They love this stuff. They know that, given the frequency of bad advice and the price of good advice, functioning as their own financial advisor is the best-paying hobby they will ever have.

 

DIY Investors

Most of them are right. DIY investors may make a mistake every now and then due to not getting professional advice, but as long as they have enough interest in this stuff, that mistake is likely to cost less than the sum total of years of advice and service. Besides, advisors make mistakes every now and then, too, and most who call themselves advisors aren’t actually real advisors anyway (and they’re making mistakes every single day).

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