Monday, November 30, 2009

Money Management Does Not Need to Be Complex

With an open mind, some common sense, and advice that puts your interests ahead of everyone else's, managing your money does not have to be difficult.

Unfortunately, finding advice that puts YOU first is often the hardest ingredient to find. There is so much information available to you, but most of it is either speculative opinions or slanted toward someone else's goals and not yours!

You can call up one of the big firms like Fidelity or Charles Schwab (we see their commercials so much today) and ask for advice. They are often seen as an alternative to paying for advice from an expensive broker. Their recommendations maximize benefits to their company and oftentimes are mediocre at best. YOU are still making a final decision based on their professional but biased advice.

Vanguard, popularized because of their low fees, is another common company we see investors use. However, certain categories of their funds do not perform well. You are taking the risk of a category and paying lower fees, but the net return may be better in a fund with higher fees with the same risk.

To hear the Smart Money Radio Show segment focused on this topic, Please Click Here! (about 7 minutes long)



To hear the full Smart Money Radio Show where Bruce discusses this topic and more, Please Click Here! (about 25 minutes long)

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