The title to this video "6 or 7 Figure retirement your Choice" is not a trick question. Most people would say "of course I want 7 figures" Would you believe me if I said that most people un-knowingly choose 6 figures instead of 7! The example in the video is derived from the following example which repeats itself thousands of times over all over the world. See the Link below to get fee comparison information it's easy and free (the info that is…the mistakes will cost you hundreds of thousands of dollars!!):
$1000 initial and $458 per month for 40 years is 220K in total contributions. 8% average rate of return over that time renders TWO different outcomes depending on the FEE SCHEDULE:
Outcome 1 with 0% Fees: $1,506,470 (7 figures)
Outcome 2 with 3% Fees: $688,802 (6 figures)
Which do you choose again?
Difference between the 2 over 800K dollars! No financial planner can make up that type of impact nor will they try.
Compounding interest calculator and fee comparison tool:
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DISCLAIMER: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read and/or view here.
One singular mission: Share with every viewer the best kept secret in the Financial Wold! It's a secret that money managers don't want you to know about. Here it is:
You can own/trade individual stocks, etf's, own index funds and limited partnerships or bond funds all within your roth ira account! The secret is in the type of account you need to start. The self managed account.
You will not hear this from your financial planner. This relatively new service is available to anyone who opts to take charge of their own financial future and can do so by starting a self-managed Roth IRA. Any roth account will provide tax shelter and allow for contributions and earnings to be withdrawn at age 59.5 years old. However, only a self-managed account can maximize profits through wealth preservation by eliminating fees charged to traditional investment accounts. Cumulative growth, dividend re-investment and compounding interest can all work to maximum potential for you free of the damaging effect of fees from traditional managed account types.
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