My first podcast of 2018 is now live:
This episode’s interview features Shannon Lee Simmons, a refreshing young voice in financial planning. At the age of just 25, Shannon quit her job with a large investment firm so she could work with Canadians who are underserved by the financial industry. Today, at age 32, she runs a successful fee-only planning business called the New School of Finance, where she works with clients in all income brackets and life stages, including recent grads, small business owners, and those who need a mid-life check up.
Shannon has also just authored a new book, Worry-Free Money (published by HarperCollins Canada), which focuses on our attitudes and approach to money. It offers a lot of valuable insight for people who need to sort out some big-picture issues before they worry about small details such as which ETFs to use.
In our discussion, Shannon says she’s noticed a discouraging trend among younger investors that she calls “fee shaming.” This is when a supposedly enlightened index investor scoffs to a friend or family member, “You’re paying a 2% MER on a mutual fund?