The title of this article sums up exactly what we’ll be doing here. I truly hope everyone can gain a solid understanding of all the fees they pay on investments, because as the value of your assets increase, the fees become very, very noticeable. Paying 2% total fees on $50k is one thing, but try doing it on $2MM. In this article we’re going to explain the various types of fees, where you can expect to pay them, and how you can avoid them. We will also break down the numbers so you can understand the impact. I know, you came here looking for the numbers, so we’ll give them to you!
Your bank might not “be there for you” during these difficult times – always know your banking fees!
I was one of those kids that was born into a “set-in-stone” family banking relationship. Both my parents had accounts with the same large bank, so once I was old enough for a bank account of my own, this made the choice simple for me and my parents. By using the same bank it was easier for them to transfer my allowance, or withdraw my monthly phone bill once they deemed me old enough to start paying for it (ouch).