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just got off the phone with Empower's free financial advisor call. they called me out of the blue last week and offered me to meet with their free initial consultant.

closing remarks: "i don't think we can extend an offer to you to be a client of our financial services"

i'm confused. it was a free consultation that was triggered by my empower dashboard somehow... i think it was the day after I bought GameStop stock and i must have triggered some risk metric.

He don't like my portfolio. like at all

I have no idea what to make a portfolio look like.

The allocator algo wants me to be allocated as followed🤔

i am allocated as followed, and he doesn't even want to invite me to pay him to help me.

that's how bad this looks to a professional. What can i do to de-risk?

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Discussion

Wellington Stamm 6mo ago

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closing triggered you de-risk?

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Comte de Sats Germain 6mo ago

Why so bearish?

gojiberra 6mo ago

Oh, I should have asked him that. No, I was really wanting to learn. He just didn't even want to start.

I think he must have been used to wealthy clients and had no time for me. The initial guy who scheduled the meeting was super friendly and said "I'll schedule you with our best advisor".

I think that was the mistake. The good advisor just works with wealthy clients to make sure they are managing risk.

I need the entry level advisor

Comte de Sats Germain 6mo ago

I was asking you! But yeah it would be a good question for him too.

I don't think you need an advisor. I don't think anyone does. I think the whole advising industry is a scam industry, like online coaching, online classes, and therapy.

gojiberra 6mo ago

bearish? i thought i was aggressive...

you might be right about the advising industry. I have learned a lot from other people, but the best advice was free.

The "financial advisor" job must be one of the worse because you can't share conviction with other people. so they try to remove risk and get slow and steady income for their clients. actually this is a good argument for those Strategy bonds that yield 8% or 10%

i did learn that in the bond category (4% recommended for me) they break down roughly as follows:

25% gov

25% corporate

25% international

25% something else

i do like how traditional finance mitigates risk is by spreading it around.

How I interpret risk as a bitcoiner,:

Risk off: Bitcoin

Risk on: any interesting company that has adopted a bitcoin standard

Transactions: cash (enough for a few months of 80% drop in bitcoin)

i think an 80/20 Bitcoin/stock ratio or 90/10 would be more comfortable. A 100% bitcoin portfolio is the most zen and liberating. But i don't know if it's worth paying extra taxes to get there. and i don't want to pay bitcoin ETF fees when there's companies like Strategy.