Yes, very familiar with Bogleheads.com. Great information on low cost investing. If you are with a financial planner that doesn't charge fee based, you are paying a minimum of 1% per year on your balance (some charge 1.5% or more, so ASK!!), along with other commissions every time you buy a stock or mutual fund share. I was amazed as I had no clue because these fees never show on the statements, and even when you ask, they sometimes are not made clear. You never see where it is taken out, so you don't realize how much is missing.
This is a simplified example. Say you have $1,000,000 in retirement funds. Your rep charges 1%, which is $10,000 yearly. Plus commissions or loads on share/funds purchased. That is a minimum of $10,000 of your money yearly that is not invested or growing. If you are withdrawing 4% yearly for spending (4% of assets is common) then that $10,000 is a full 25% or 1/4th of your yearly income. This is why I learned to invest in stock index funds, inbounds, CDs, etc.
I realize some may need an advisor. But for me, it is a hobby/interest now.
Let's see if we can get enough interest t o start a group. Would be great also for any spouses who do not handle the money or investing currently, but wish to learn more.
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