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Episode 3112:

Chris Mamula reflects on the costly mistake of blindly trusting a financial advisor, a decision that led to years of excessive fees and missed investment growth. His story exposes how common and dangerous it is to rely on referrals for financial advice in a financially illiterate society, underscoring the life-changing power of self-education in investing.

Read along with the original article(s) here: https://www.caniretireyet.com/the-worst-investment-advice-i-ever-heard-everywhere

Quotes to ponder:

"We later learned we paid approximately eight times more in hidden fees than we thought we were by following his investment advice."

"The worst advice, which I read and hear frequently, is that you should find a good financial advisor by seeking the recommendation of someone you trust."

"There is no substitute to self education. Those unwilling to learn are destined to repeat these same mistakes."

Episode references:

The White Coat Investor: https://www.amazon.com/White-Coat-Investor-Financial-Doctors/dp/0991433106

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