Wall Street for Dummies
There are a 140 Americans who have $26 trillion (that’s trillion with a T) invested in self-directed retirement accounts. These dollars are unevenly spread between active 401(k) plan and self-directed IRAs. Just thinking about these dollars market has the mavens of Wall Street salivating, because they see this as their golden ticket to a lavish lifestyle. Last year alone, Wall Street took in $250 billion for their participation in the management of these accounts.
The mission of my podcast is to answer the question; “Is the juice worth the squeeze? While the group in total paid $250 billion dollars in fees, some paid significant fees, while others paid next to nothing, and yet experienced better than average returns.
This begs the question; Which group would you prefer to belong to???
I borrowed the title of my educational program, Wall Street for Dummies, from the successful series of books that takes technical topics and presents them in a fashion that the non-professional can master on their own. On the surface, the title may sound like a put down to my followers, but it is intended to be a single digit salute to the Wall Street professionals indicating that they are not as elite as they claim to be.
Wall Street for Dummies
Season 1, Episode 8 The King is Dead, Long live the King
In this episode of my extremely insightful podcast, I document the evolution of the financial services industry from one that was an entirely manual process dominated by the legacy Wall Street firms to the current electronic system where the internet discount brokers are now the dominant party.