2020 Dec Ebook NewPDF

Quick Story Continued…
My manager suggested a product that ended up being the most expensive option.
Because at the time I didn’t know any better, I followed my managers advice. I invested
MY DAD’s money in a product that cost him a lot more money than it should have.
Here I thought I would be able to help my dad and friends because I was now working
“in the industry”. I assumed I could find the
best deals, best products, best services, etc.. Afterall,
I got into this industry so that I could help people.
Unfortunately, I found out years later that I could have
invested in the exact same product with little to no fees.
It took years of experience and obtaining my CFP
designation to finally understand the convoluted details
of products that are designed to confuse investors.
So, even the most well-intentioned advisors can get it
wrong. Hell, even my manager was wrong.
To give you an example of how much fees can affect your portfolio, take a look at the
Bonus Tip in the next chapter.
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