Would it possible to schedule shorter 1-hour sessions?
Absolutely! Although it’s preferable to start with a longer period of time, for those who don’t have a 3-hour block to go over the DRS Mentorship session, we can break the initial meeting into separate 1-hour sessions.
Will you be managing any of my accounts?
No. The goal behind the DRS Money Mentorship Program is to teach you the basics of personal finance, so that you can set up your financial system (including credit cards, savings accounts, taxable and tax-advantaged accounts), and move on with your life. I’ll also teach you how to monitor your system with less than one hour per month.
What is included in the first DRS Personal Finance Mentorship session?
The first DRS session is meant to get into the nitty gritty of your financial system. Depending on how complex your financial situation is, we will discuss the following
- Personal Life Goals (and how money can help achieve them)
- What “Spend & Smile” categories you’d love to focus on
- Presence of debt (including credit card debt, student loans, and mortgage) and how to tackle it
- Investing including what type of investments that are available to you
- Four criteria that generate wealth
- And more! (Including money psychology)
What's the difference between a financial manager and your DRS Mentorship Program?
There are two main differences:
1- A financial manager/professional handles your investments for a fee equivalent to a percentage of assets under management (AUM). Typically the charge is between 0.8% to 2% (not including the costs and fees of the funds they use). Other financial managers charge a flat fee (either hourly or annual or project fees).
The goal of the DRS Money Mentorship program is to show that you can handle your own finances on your own. Our society teaches us that our finances are too important for us to manage it. We should let the “experts” take care of our money. For people with complex financial situations, a financial manager/advisor can be very helpful. For most people, however, handling their own finances is not only feasible, but also easy and doesn’t require much time. Why pay those “experts” thousands and thousands of dollars to do something that we can do better on our own without giving up a large portion of our earnings?
2- The DRS mentorship program includes money psychology. All of us behave differently with our money. And that’s ok! We all come from different backgrounds and have unique childhoods. However, many people fail to treat money with the respect it deserves. They refuse to talk about money consistently. Until we examine how we feel and behave with our money, we won’t be able to make much progress with the technical aspect of our financial system.
How can I contact you for questions after a DRS session?
The best way to contact me for any questions/concerns after our mentorship session is by email. I typically answer within 48 hours.