![]() ![]() You also should shop around for accounts and investment firms with low fees, which can help you keep more of the money you worked hard to save. If they seem high, the SEC recommends asking whether the costs can be reduced. After studying millionaires for 5 years, I can tell you many people think about what. ![]() If you invest $100,000 over 20 years and pay a 1% annual fee, your portfolio value will be about $30,000 less than if you had paid a 0.25% annual fee, according to the Securities and Exchange Commission’s Office of Investor Education and Advocacy.Ĭheck your account statement to see what fees you’re paying. According to my Rich Habits Study, this chosen path took 32 years to accumulate an average of 3.3 million. ‘Working hardeven at a job I hatewill make me rich.’. It has never been out of print since 1937 and has sold an estimated 100 million copies worldwide. Here are some of the most common middle class beliefs that may be holding you back from your earning potential: 1. His Think and Grow Rich is the most widely acclaimed, influential book on personal success ever published. “The more you’re paying in mutual fund fees or transaction fees means less money in your pocket.”Įven small fees can have a big impact. Napoleon Hill (1883-1970) is one of the founding fathers of the self-motivation movement. Yet those fees can eat away at your returns, Schulte said. For example, more than half of workers don’t know they’re paying fees on their workplace retirement savings accounts, according to a study by the National Association of Retirement Plan Participants. The rich also pay attention to investment fees - something many others overlook. ![]()
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