Invest Intelligence When It Realy Matters
Read This to Understand Why You Should Manage Your Own Money
You might recall that I have profiled a few mutual fund disasters. If you haven't already read these articles, I strongly suggest you do so ASAP.
And if you have already read them, you might want to take another look because one can never get enough of the truth when it comes to the financial industry.
It is important to understand that there are many more of these fund disasters; too many for me to cover.
And I'm sure there are many more that I do not know about.
Perhaps the most important take away message from these articles is that you should never assume any fund manager or financial "expert" is worth a damn regardless what Morningstar (which serves as a hack firm for funds) or the media tells you because they are all playing on the same team.
You are viewed as the opposing team. And their intent is to grab as much money from you as possible, all while making it look like they are doing you a favor.
You should always assume that all fund managers and financial advisers are fairly useless, or else not worth what they are charging you until proven otherwise (and if you think that a 2 or 3% annual fee is small, try compounding this rate over several years and tell me what you think.
Have a look at the long-term impact of fees on your returns.