Thu Jun 19 2025, by Tyler Gardner

5 Things I Would Never Do with My Money

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. Remember how you wanted to retire on 4% of your investments per year? Well, 25% of that goal just went down the drain because you have someone doing your investments for you. If you need someone, look for a flat-fee CFP.

2. Resist Peer Pressure

I would never invest in anything just because the world is telling me to do it. I won’t name memes, I mean names, but I trust you all know what I’m talking about.

3. Diversification for Diversification's Sake

I wouldn't invest in a real estate opportunity because some neighborhood friend told me it could be a great diversifier. Diversification for diversification's sake is the dumbest thing you can do with your money. I'd rather have you put all your eggs in one basket and watch that basket like a hawk.

4. Avoid Whole Life Insurance and Indexed Annuities

I would steer clear of whole life insurance or indexed annuities. If you need insurance, term is best; invest the rest.

5. Don't Let Emotions Drive Decisions

Finally, I would never invest or divest based on my daily emotions. I automate everything to remove the number one enemy from wealth building: my amygdala. We do not want our emotions playing any part in this. I automate my investments for every second day of the month and never change it. Remember, offense is flashy, but defense does indeed win championships. Just ask Malcolm Butler.

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