Monthly Archives: May 2022

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S4: Episode 10 – The Myths and Misconceptions of Fees and Costs

You may have heard the terms “fee” and “cost” used as synonyms, but there is a distinction that could make all the difference in the world of investing. In this episode, Stephen Stricklin and Paul Brock discuss three major misconceptions many people have about fees and costs. 

A fee is something you can “see,” usually in plain sight, and made known up front, sometimes deterring an individual from taking the plunge. A cost is something you can “feel,” usually not laid out clearly in a statement, but you’ll feel the hidden costs in your returns. 

The three most popular money saving misconceptions are: investing on your own, that your 401(k) has no fees, and investing online with a robo-advisor, all of which lead people to believe that they are cutting losses associated with various service fees. Stephen and Paul expose these myths with facts and statistics, showing the fees of working with an advisor actually yields greater return than the costs associated with the three methods above. 

All investments have a cost, and value determines worthiness. The value of having a financial advisor when investing is highly beneficial, and the stats show it is worth it. 

Stephen and Paul Discuss:

  •  The difference between fees and costs. A fee is something that you see, a cost is something that you feel.
  • The myths and misconceptions of fees and costs when it comes to investing.
  • Misconception #1 “I can save money by investing on my own, and pay no fees”
  • Vanguard study 
  • Misconception #2 “I can save money by keeping money in the 401K, where there are ‘no fees’” 
  • Misconception #3 “I can save money by investing online through a robo-advisor, because there are ‘no fees’”
  • Dalbar study 

Don’t forget to email if you have any retirement questions you’d like Stephen and Paul to answer in an upcoming episode OR to get a free Copy of Stephen’s book, Simplify Your Retirement!

Connect With Stephen Stricklin:
Simplify Your Retirement
LinkedIn: Stephen Stricklin
LinkedIn: Wise Wealth LLC

S4: Episode 9 – How A Reverse Mortgage Can Enhance Your Retirement With Gabrielle Welter

Are there better uses for your home equity? In today’s episode special guest Gabrielle Welter, along with host Stephen Stricklin, discuss everything reverse mortgages. Gabrielle is a reverse mortgage specialist in the Chicago area, and with 11 years experience in the financial industry, she has a lot to share. 

Gabrielle debunks the negative connotation that a reverse mortgage is the “loan of last resort.” She gives an in depth look into how a reverse mortgage can enhance your retirement portfolio overall. 

She answers questions like; How does a reverse mortgage work if you still have a mortgage payment? What is the cost/value? What happens when you sell your house but there’s still equity in the home? 

Gabrielle Discusses: 

  • Uses for a reverse mortgage, and how it can benefit the retiree- a way to pay for long term care.  
  • Different scenarios for a reverse mortgage and how it would work- even if you still owe money on your mortgage, you can still qualify. 
  • HECM- home equity conversion mortgage
  • Why a reverse mortgage is valuable- Closing costs are high because it is FHA insured, and it is a non-recourse loan, they cannot pass any debt to any errors.
  • Benefits of being FHA insured
  • Explains the scenario of selling the house, still having equity in the home- leaving remaining equity to beneficiaries, “passing money”. 
  • The scenario of not taking equity out of the home, but instead buying a new home, “HECM for purchase” or “H4P”. 

Do you have a question to ask for an upcoming podcast episode, or want a FREE copy of our book, Simplify Your Retirement? If so, email:

Connect With Gabrielle Welter:
LinkedIn: Gabrielle Welter 

Connect With Stephen Stricklin:
Simplify Your Retirement
LinkedIn: Stephen Stricklin
LinkedIn: Wise Wealth LLC

About Our Guest:
Gabrielle Welter is a reverse mortgage specialist in the Chicago area. She has 11 years of experience in the financial industry, and has even owned her own Allstate agency for 5 years. She is passionate about her work, going beyond just a customer-relationship, to a client-relationship, educating her clients and countless others on her social media platforms. Gabrielle is also married, and the mother of three boys and one golden retriever.