When you look at your monthly statement, do you feel like you have a good handle on what’s going on? You punch in an ETF or mutual fund symbol, but it doesn’t tell you much. It’s like trying to pick a show on Netflix—let’s see what this is about—only to realize five episodes in that it was a waste of time.
Your time is valuable. You deserve to know what’s going on from day one. Today you have advisors selling you blueprints that sound good, but then you realize they’re stuffing your portfolio with ETFs and mutual funds that charge you a fee on top of what you’re paying the advisor. A lot of the time it adds up to over two percent.
When you discover this—hopefully sooner than later—it feels the same as paying your cable bill, your cell phone bill, Netflix, and still wondering what you’re getting. Wondering if you’re paying too much. It’s frustrating. I get it. What if you don’t have to cut the cord and you can still pay less?
Action Line: We should talk, don’t you think? (By the way, check out The Queen’s Gambit on Netflix. I like it.)
Originally posted on Your Survival Guy.