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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75379  
Subject: Re: Brokers Fight For Right to Screw Customers Date: 6/14/2014 7:03 PM
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pauleckler analyzes,

But I suspect the steady money on Wall Street comes from those who arrange to collect a few pennies at a time from everything owned by every client. They think those charges are modest, not greedy, and they hope they will go unnoticed.

</snip>


Wall Street's business model is based on extracting 2% per year in fees, commissions, and costs from the average client -- each and every year.

Over a 60-year investing horizon (i.e., 30 years saving for retirement, 30 years of spending in retirement) you'd have to save 60% more money for retirement to make up for the amount of wealth you lost to excess fees.

http://retireearlyhomepage.com/vg_tsp.html

intercst
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