Pay Yourself first with jay eichelberger

Jay Eichelberger is a certified financial planner and wealth management veteran who founded a fee-only advisory firm, grew it to $1.9B in assets under management over about 32 years, and later sold it to Wealthspire Advisors, where he remains a managing director.

Jay stresses that long-term investing is simple: the stock market historically trends upward long term. It always goes up and always recovers from downturns. With this outlook, the dips and crashes are buying opportunities, not selling triggers, especially with a 5+ year horizon.

We discuss investors vs traders, compounding, index funds, ETFs, and dollar-cost averaging through 401(k)s and automatic investing. Jay explains practical steps to start saving by paying yourself first.

00:00 Welcome and Introduction

02:27 Jay's Journey into Finance

04:53 The Fee-Only Revolution

06:17 Building a Billion Dollar Firm

08:37 Finding a Trustworthy Advisor

09:54 Jago's Personal Story

13:05 The Stock Market Always Goes Up

17:18 Traders vs Investors

20:54 The Power of Compounding

23:50 Dollar Cost Averaging Explained

26:36 Preparing for Market Dips

29:56 Taking Profit Strategy

32:35 When to Take Profits

33:52 Pick What You Use

35:22 Bitcoin Gains Strategy

36:22 Funds Selling Discipline

39:02 Wealthspire Sale Story

44:23 Fiduciary Culture Fit

46:55 Bitcoin ETF Explained

52:10 Why Inflation Spiked

57:20 Start Investing Small

01:01:29 Pay Yourself First

01:03:21 Final Thanks and Wrap