Personal finance | It’s always exciting to start a new investment. But do financial advisers always share the information of fees and costs in a way that is understandable? And do we really comprehend the true cost of these fees?
It’s always exciting to start a new investment as it gives us that feeling of empowerment and the sense that we’re taking charge of our finances, planning for the future and doing the right thing.
Think about the costs involved in running an investment company – you would certainly expect professional staff, great IT systems, online statements and probably an app. All of these cost money, and it’s only logical that a fee is charged for services rendered. Your investment would effectively grow at only 8%, which is not much different to some of the fixed deposit offerings at banks. If your investment grew at 7% and had a 3% EAC, you may as well leave your money in a Capitec account, which currently offers 5% interest with no risk and will perform better than your investment.
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