It sounds like a silly question – but the shocking truth is that hundreds of thousands of people will do just that over their lifetime. Could you be among them?
Consider this – an investor who saves just $1,000/month from age 25 to 70 – stops – then draws income for 15 years, will have paid $1,088,139 in fees and commissions – and the meter is still running.
The assumptions that go into that math aren’t trumped up to make a point. Our investor earns 8%/year, and pays fees and commissions at 1% of their account value each year.
Your number may be more – it may be less. But it’s a lot more when we look at it over a lifetime, that the small 1% that was presented to you. What’s worse, most people cannot tell whether or not they got any measurable value for the advice they bought.
Whether your number is $1,000,000 – or $100,000 – it’s a lot of money – and it’s money you can’t spend or pass on. It’s the Wall Street way – and it explains why those in the Wall Street world seem to live so well.
But the only other option is to do-it-yourself. Even that doesn’t take the number to zero – it just reduces it substantially.
Here’s another idea. What if those fees – whether $100,000 or $1,000,000 – were completely refundable to your estate? Would that make a difference? We can show you a place to grow and protect your money – and all the fees that are charged over the course of your lifetime, are completely, 100% refundable. Post a comment to learn more.