Investing your money is a skimming operation where everyone who is part of the process bleeds off as much of your assets as they can. In exchange, most investors get terrible advice and suffer the consequences. It is so bad, most investors would be better off keeping their money in FDIC insured Certificates of Deposit or Treasury Bills.
Here are seven reasons why your investments are doomed:
- Using a broker. No one has yet to give me a reason why using a broker is a good idea. They are not fiduciaries (meaning that they don't have to act in your best interest), they can't pick stocks, time the markets or pick mutual funds that will outperform other funds.
The deck is clearly stacked against investors.
So what are you supposed to do?
Start by picking up a copy of the updated version of John Bogle's classic book, Common Sense on Mutual Funds. Compare the advice and data in that book to the nonsense you get from your broker or the frenetic comments of self-styled financial experts on TV. Act accordingly.
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