Preview of what we’ll cover today:

🗣️ Clear Communication: Good advisors adapt to their audience

🖍️ Running Joke: Ryan keeps explanations simple and memorable

🔍 Second Opinion: Ongoing confusion may signal concern

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More About This Episode:

Ever wonder if your “safe” cash is actually holding you back? In this episode, Ryan answers a listener’s question from a pilot who has built up $150,000 in cash but is hesitant to move it because of the security it provides. He explains the difference between liquidity and leaving too much money idle. Stick around to find out if your cash strategy is helping, or quietly hurting, your future.

Go Deeper Into The Episode:

0:00 – Intro

0:28 – Listener Question

2:07 – K.I.S.S

2:52 – Get a Second Opinion

Resources:

Retire Pilots – https://retirepilots.com

Get your FREE Retirement Toolkit – https://bit.ly/3ZmZsaX

Pilot Tax – https://pilot-tax.com/

The Pilot’s Advisor Podcast is also on video. Watch & Subscribe on YouTube: https://bit.ly/3EIEBW2

Connect with Pilot-Tax: https://pilot-tax.com/

Episode Transcription:

(Note, this is an automated transcription. Please forgive any errors.)

Walter Storholt 0:00
We’ve got a listener question today to cover. Someone who really likes their advisor, but feels like they’re maybe speaking in too technical of terms. Is that reason for concern? We’ll talk about it on today’s episode with Ryan Fleming, the pilot’s advisor. Welcome back to another episode. Walter Storholt here with you alongside Ryan Fleming, the pilot’s advisor, and we have another great listener question to break down on the show today. Ryan, here it is: I really like my financial advisor, but he always talks about my money in very technical terms that I guess I’m not smart enough to follow. Should I make a change to someone that speaks my language a little bit better, even though I like the advisor and my investments have performed well.

Ryan Fleming 0:45
Well, I think that just speaking up and saying that you need to dumb it down a little bit would would be the right way to do it. I’ve I’ve been in this industry for a long time, and when I first started out, I feel like I was probably getting too much in the weeds and being too technical and trying to show my clients how much I knew, and I learned over time that keeping it simple, stupid is the right way. I try to make it as basic as possible, unless somebody wants to go into the weeds. If they really drag you into the weeds, then we can go talk on that level. But outside of that, I I try to keep things as simple as possible, and I would just tell your tell your advisor that you need them to slow down a little bit or make it make it you know dumb it down a little bit, and and I have to rip on my Marines at this point in time. Like whether I’m talking to a Marine, an Army guy, an Air Force guy, a Navy guy, I might take a different approach. You know, I might have to start eating crayons and drawing big pictures with big fat crayons to make my my marine clients understand what we’re talking about. So I think I think like anything, and even I’d say this to that advisor is is know your audience. You know, know your audience, but as a client, just speak up and say, “Hey, I didn’t get that. Can you go over that again? Or can you and I and I actually get this a lot. We’re like, hey, man, I was in the army. You gotta you gotta try that one again. I’m not understanding what you’re saying.

Walter Storholt 2:06
I love it. You’ll know what category you’re in by what you know what writing implement Ryan has you use to sign any paperwork. If it’s a crayon, you know, time to look in the mirror. So the pencil, maybe you’re doing a little bit better. And if you’ve got the nice fancy pen, he he thinks very highly of. Well,

Ryan Fleming 2:22
and the best part about it, as soon as you put this out there, and they and my clients hear it, I’ll get a couple text messages like, “Hey, man, I heard I heard you ripping on us again, or you know, it’s actually pretty funny. So it’s a it’s a running joke now, and and I’m going to give a shout out to a few that you boys. There’s some c1 130 Marine pilots we’re talking about, and there’s a bunch of hairier Marine pilots that that always give me crap about this. So now it’s a running joke, and I’m going to keep it going.

Walter Storholt 2:48
Very, very nice. I love it. Hey, it’s a great question. It is one worth thinking about if you’re working with an advisor and you’re not getting it, you’re having some trouble understanding it all. That can be a big red flag. It could be something innocent. Maybe you just didn’t get something on a particular conversation. But if it’s a bigger picture issue, if it’s something that’s been long term, and maybe you’ve even made the request to say, “Hey, I don’t understand. Can you do it better? and you’re still lacking that understanding, take that red flag for what it’s worth, and it might be worth getting a second opinion of your plan and portfolio. That’s what Ryan does. He reviews portfolios all the time with pilots across the country. It’s easy to get in touch and set up one for yourself. All you have to do is get the retirement toolkit. There’s a link for it in the description of today’s show. It it itself is packed with great resources and information that you’ll find helpful. But it also qualifies you for a free portfolio analysis, where Ryan will talk one-on-one with you about how your portfolio is doing, what changes can be made, and what direction you can head in with the right changes. If you want to talk a little bit more about that, again, link in the description of today’s show. Click that, put in your info, and you’re well on your way. Ryan, thanks for answering this question. We’ll talk to you next time.

Ryan Fleming 3:57
See you.

Walter Storholt 3:58
We’ll see you next time on the Pilots Advisor.

Speaker 1 4:04
This episode is for educational purposes only and is not individualized investment advice. The Pilots Advisor LLC is an SEC registered investment advisor. Registration does not imply a certain level of skill or training. Past performance is not indicative of future results, and investing involves risk, including the possible loss of principal.