How much are you paying for Mutual Funds?

HOW MUCH ARE YOU PAYING FOR MUTUAL FUNDS…THAT YOU DO NOT KNOW ABOUT?

Are you aware of the fact that your mutual fund company is taking money from your account and not telling you how much they are taking?

Doesn’t that make you mad?  If somebody took money from your checking account and did not tell you how much they took or when they took it you would be livid, it would be theft, you would probably call the cops.

Well, the big money “Wall Street Gang” has made it legal to charge your mutual fund account and not have to tell you how much they are taking from you.

Have you ever received a simple “Total Annual Mutual Fund Costs” report from your broker? Maybe you should ask for one and not take no for an answer.

You may know what your fund’s annual expense fee is because that expense is fairly well publicized. Even so, you are not told how much is taken from you through annual expense fees, are you? Nor are you made aware of when these fees are taken from you.

There are several other expenses taken from your account that you probably never heard of, that are not individually disclosed to you,  these ”hidden fees” include: explicit and implicit trading fees, implicit opportunity costs, front and back load charges, wrap fees, performance fees, and turnover taxes.

These “hidden fees” can cost you as much as the annual expense fee or more depending on the fund management.

It is not unusual for the total cost of the mutual fund fees you are paying (including the “hidden fees”) to be 3-6% of your mutual fund account every year!

Worried about the 3% annual cost of living’s impact on your retirement lifestyle? 

Your mutual fund fees could be costing you as much or more as inflation in your retirement. 

There is no need to pay high mutual fund fees. You can control them.

Reducing mutual fund costs is a key component of a well designed Retirement Money Machine. 

YOUR FINANCIAL COACH SHOULD SHOW YOU HOW TO REDUCE YOUR  MUTUAL FUND COSTS.

The financial industry regulatory authority (FINRA) has a site where you can at least see your annual expense and front load costs. Unfortunately, this site does not add in trading costs, opportunity costs or turnover taxes, so the total costs of your mutual fund is not available on that site. For more information on the “hidden costs” you need to go to the mutual fund’s Prospectus and track down the fund’s Statement of Additional Information (SAI). 

The FINRA site is http://apps.finra.org/fundanalyzer/1/fa.aspx