Having said that, if you have decided to invest, do yourself a favor and invest on your own and save a fortune and I mean a fortune, thirty years of giving up just 1% will cost you half your money, that's right half!
The investment community are masters of marketing and have you convinced that you cannot invest on your own BUT you can and it's easy.
Here's the scoop.
- 91% of money managers cannot beat the S&P 500
- Neither can your stockbroker who charges commissions
- Neither can your financial advisor who charges fees
Most stockbrokers or financial advisors are genuinely good guys interested in your accounts well-being. The problem is that your financial guy (and the brokerage firm he works for) get paid either by assets under their control or money in motion and charge you either commissions or fees which simply eat into your returns, IT IS THAT SIMPLE. Value added, are you kidding? How did you do over the last year compared to the S&P 500?
So instead of being one of the 91%, try to become one of the 9%.