Mutual Funds Enrich the Financial Services Industry at Your Expense
Now, yes, if those fees produced greater and more reliable returns, they would be worth it. But they don’t. They are only enriching the financial services sector at the expense of your own bottom line. Robert Hiltonsmith, a researcher at the think tank Demos, has estimated that the average household loses $155,000 in potential gains as a result of unnecessary fees.
Most of us don’t need a complicated, elaborately planned investment scheme that requires more choices and frequent changes. As the cliché goes, don’t let the perfect be the enemy of the good. There is no perfect investment scheme anyway. Don’t let anyone tell you otherwise.
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