Audio available in app
Avoid high fees from "summary" of The Only Investment Guide You'll Ever Need, Revised Edition by Andrew Tobias
One thing to avoid is high fees. If an investment has a 5 percent front-end load, for instance, you start off 5 percent in the hole. Plus, you're paying for the privilege of investing in a fund that's very likely to do no better than average. So you're actually worse than average. If you invest $10,000 in a fund with a 5 percent front-end load, you immediately lose $500. If you invest that $9,500 in a fund that goes on to earn 10 percent a year, you'd have $17,220 after ten years. If you invest the full $10,000 in a no-load fund that also earns 10 percent a year, you'd have $17,620. That's $400 more. If you were to invest the money in a fund with a 2 percent annual expense ratio, you'd lose another 20 percent of your return, or $400 a year on that $10,000 investment. After 10 year...Similar Posts
Money is a tool for achieving goals
Money is not an end in itself. It is merely a tool that can help us achieve our goals. Whether it's buying a house, starting a ...
Purchase rental properties for passive income streams
One of the most effective ways to build wealth and achieve financial independence is by investing in rental properties. By purc...
Save and invest wisely
Saving and investing wisely is crucial when it comes to securing your financial future. It is not just about setting money asid...
Index funds provide broad market exposure
Index funds are designed to mirror the performance of a broad market index, such as the S&P 500. By doing so, they provide inve...
Avoid the desire to get rich quick
The allure of getting rich quick is hard to resist. It promises a life of luxury and ease without the need for hard work or sac...
Educate yourself about personal finance to make informed decisions
If you want to make smart decisions with your money, you need to educate yourself about personal finance. This means learning a...
Find joy and fulfillment in the journey towards financial freedom
Achieving financial freedom is a journey that requires dedication, perseverance, and a willingness to learn and grow. It is not...
Automate your savings and investments for consistency
One of the key principles that I emphasize is the importance of setting up automatic systems for your savings and investments. ...
Stay informed about financial matters
Understanding financial matters is crucial for making informed decisions that will impact your future financial well-being. It ...
Start investing early
The power of compound interest is one of the most important concepts in building wealth. When you start investing early, you gi...