Posted on by Sean Merron

2FD 023: Unshakeable Book Study Part 3

When was the last time you looked at the costs your financial advisor or mutual funds are charging you?

Many times as Jack Bogle says “Investors are taking 100% of the risk for 33% of the return.” Don’t let your retirement suffer because you’re not getting the best rates at the lowest cost for your investments.

Tony Robbins explains to us how your employer has a legal obligation to act in your best interest for the retirement account they provide you. CHA-CHING!

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Discussion Points

  • Leaving college without debt.
  • The hidden fees and half truths with financial advisors.
  • People just want freedom.
  • 71% of Americans believe they pay no fees with their 401K.
  • Picking stocks is a losers game.
  • Too many options: There are 9,500 mutual funds in America, twice the number of publicly traded companies.
  • Your biggest investment expense: taxes.
  • The average turnover rate for a mutual fund is 85%. Many are over 100%, holding all stocks < 1 year.
  • Expense ratios on top of management fees.
  • “You’re not going to beat the market” -Ray Dalio
  • Why it’s important to dig into the prospectus for your retirement accounts.
  • Finding equivalents to index funds in your employer retirement account.
  • Most retirement account providers for small businesses are insurance companies.
  • Your employer is legally responsible to act in your best interest when choosing a retirement plan.
  • The expense markups for funds in your employer retirement accounts.

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