No. of Recommendations: 3
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.


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.

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