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28 Reasons Why Successful People Fail At Investing: Reason #6 They do not understand how much they are paying in investment fees
Like great magicians, the financial services industry is masterful at generating distracting misdirection, counterproductive noise, and information that focuses your attention on anything but full transparency and full disclosure of the exceptionally high fees they are charging you.
It is imperative that you understand the massive IMPACT that hidden fees have on your ability to achieve your financial goals and ultimately live your ideal life. Avoiding these fees could enable you to retire a DECADE earlier! Our point here is that whatever financial goal you wish to achieve, you can reach it years earlier by reducing the impact of fees on your investments. It is very likely that right now you are being ripped off by your “advisor” and you don’t even know it.
Yes. Ripped off. I know that is strong or even inflammatory language, but I believe when you understand how much you are being overcharged, you will agree with me that you are being ripped off.
In my interactions with savers and investors who seek my advice, I have observed with overwhelming consistency that the vast majority of people are completely unaware of all the hidden fees that are buried in the financial products they own. Some even tell me that there is no fee, it’s free! (Almost never true!)
When discussing their investments, they are unaware of the total annual cost in dollars or as a percentage of their investments. Additionally, they have very little understanding of how these fees impact their rate of return which directly impacts their timelines and ability to actualize their goals and live a better life.
Unfortunately, you probably don’t know how much you’re paying because your financial advisor and the institutions you trust have made it an art form to not disclose these fees. They hide them for one simple reason. Hiding the fees makes it nearly impossible for you to comparison shop. If you knew what the actual fees were, you would likely NOT pay them! These hidden fees can be thousands or tens of thousands of dollars per year which can add up to millions of dollars over your investing lifetime. These unscrupulous advisors and institutions are getting rich on the hidden fees they are charging you.
A True Client Story…..https://www.youtube.com/watch?v=ZhQ-m5IAD7A
You might be asking yourself, “Where do I find the right Financial Consultant near me who charges a flat fee and will treat me fairly?” “Where can I find an Advisor who can create an Integrated Aligned Overarching Strategy?” “Where can I find an advisor who will only invest my money in proven passive investments? We suggest that you interview several. You’ll quickly learn that there are very few who are fiduciaries, believe in passive investing and have a process to create an Integrated Aligned Overarching Strategy. When you do find the right advisor, you’ll be able to relax in the knowledge that you are in the right hands and that your financial future is secure. Feel free to reach out to me with your questions. I’m committed to investor education.
If you are ready to get really serious about living your Ideal Life and getting your financial house in perfect order, please call me at 403-543-7226 or email me at dean@ideal-life-experience.ca to get started. I look forward to working with you to reach all of your goals.
Dean Kendall is a Financial Organizer in Calgary, handling all of the financial affairs for a select group of clients who value unbiased quality advice for one simple flat fee.
His book - Stop Paying Hidden Investment Fees! Click here for more information https://www.ideallifeexperience.com/Stop-Paying-Hidden-Investment-Fees
Newest book - Becoming The Champion of Your Dreams: How to Set and Achieve Your Most Important Goals Click here for more information. https://www.ideallifeexperience.com/Becoming-the-Champion-of-Your-Dreams
In addition, Dean is a 3X Canadian National # 1 Amateur, a 5X Canadian National #1 Professional BMX rider, downhill mountain biker and an avid snowboarder. He is an expert at winning. Let him show you how to win the money game. You can reach Dean at dean@ideal-life-experience.ca or Phone 403-543 -7226
Copyright 2008 – 2022 by Dean Kendall. All rights reserved. 403-543-7226 dean@ideal-life-experience.ca