Ask Terry Questions Fees on investments

Fees on investments

By Terry Savage on January 18, 2019 | Investments

I only caught part of you on WGN now. All I picked up was re negotiating fees. We have money with Fidelity, and to me their fees are high. How do I get lower fees. Also we have some money in a money market, earning next to nothing. We have too many CD, are there any better choices for investing, other than CD.

Terry Says

Wait a minute.  Something isn’t right here.  You may have money at Fidelity but I’m guessing you’re working with an outside advisor who is charging you the fees — and using the Fidelity funds.  Fidelity itself offers FREE asset allocation advice.  And their funds offer the lowest costs — UNLESS they are sold by an advisor who puts you into classes of funds that charge additional fees in which the advisor earns money.  This is NOT a good position to be in!

Please search my columns re fund fees, and also about buying Treasury bills and earning higher interest.  But the balance of how much money should be in stock funds vs “chicken money” (search that term in my columns!)  depends on your stage of life, risk tolerance, etc.  You need an overall financial plan from a fee-only advisor you can trust.  Check out Wealthramp.com.

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