Optimal Finance Daily · Sunday, July 26, 2026
Andy Hill describes placing blind faith in a financial advisor, which resulted in a significant loss. When asked where to invest $100,000 with plans to buy a home in a few years, the advisor recommended bonds, which incurred a front-load fee. The investment balance dropped from $100,000 to $95,000 within months.
“Number five, having blind faith in my financial advisor. Around this time, I connected with an investment broker who was going to help us with our investments and retirement plan. At this point, we were both making some pretty good money and we needed someone to help us invest it. My blind faith in this individual was a big mistake.”
“He suggested putting it in bonds because they were a safe investment. What I didn't understand was that there was a front-load fee that dropped our investment balance immediately. Additionally, the bond fund he put us in started to drop in value. Our $100 grand savings had dropped to about $95,000 in just a few months.”