March 25, 2014
The Financial industry relies on an uninformed populous to feed THEIR bank accounts? Explain?
The Financial industry relies on an uninformed populous to feed THEIR bank accounts? Explain?
The financial industry feeds on commissions/loads to make their money off of people, they get their money when you invest it and take the risk, they also make some money from fees but commissions male up the largest part of the sales men’s salary. They need people who dont know how to not pay loads at vanguard or other places who have learned from the industry and think they need a middle man, when in truth you can be a better financial advisory to yourself than any wall street guy because you have your best interest in mind and they do not. No well informed person should every pay a load, or buy and annuity or a managed fund.
“commissions make up” not “male up”
Well said, Garrett. Let’s review.
The financial industry relies on financial illiteracy as they push products and services to the average Joe/Jane that are meant to build THEIR bank accounts, not yours. Never forget this point.
Financial literacy shows you how to maneuver around all of these investment “helpers” as you work at becoming the wise and efficient investor. What does this type of investor do?
They discount most of what the financial industry sells. Those products are developed to make them rich, not the average investor. He/She bypasses all of them and selects no-load index mutual funds in your company retirement plan and at a place like Vanguard.com. These diversified products are ultra cheap and eliminate loads (commissions). You ultimately end up keeping most of YOUR money as you feed those accounts month after month, year after year, decade after decade. You have become the wise and efficient investor! Learn more by hitting on the investor tab on this website. Knowledge followed by ACTION will set you FREE!!!!!!!!!