5 Things I Would Never Do with My Money as a Millionaire

I'm Tyler, a former financial advisor and portfolio manager. If any of this is helpful, sign up for my free newsletter by clicking the link in my bio.

1. Avoid Paying High Advisor Fees

I would never pay a financial advisor 1% of my assets to manage my money. For the next 30 years, that fee alone would make my advisor a millionaire.

2. Don't Invest in What You Don’t Understand

I won’t invest in anything I do not fully understand, whether that's private equity markets, annuities, or even, dare I say, crypto. If you don't get it, that's okay. Learn about it before putting money into it.

3. Avoid Real Estate Without Knowledge

I would never invest even one penny into real estate just because some 20-year-old on social media told me it was a magical million maker via passive income. Real estate can be a great asset class, but if you don't understand how cash flow, valuation models, and leverage work, you have no business investing in it.

4. Don't Mix Insurance with Investing

I won't let some insurance agent convince me they have a zero-risk opportunity when they’re not even licensed to sell investment products in the first place.

5. Keep Investments Simple

I refuse to overcomplicate my investments. Personally, I invest in five index funds and ETFs, and yes, it can be that simple. Ultimately, sometimes the smartest moves you make are the ones you don't make.

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