minimalism tip

Know exactly what you’re paying in fees

When you invest in the stock market, you end up paying fees in some capacity. Whether it’s fees from the funds you invest in, the brokerage firm you use, the financial advisor you hire, or a combination of these – you’re going to pay fees. The amount of fees you pay varies and can be tricky to figure out. Make sure you know how much you’re paying in total fees. You can look at your fee schedule on your investment account statement (specifically at the expense ratio of the portfolio) in addition to adding out of pocket fees you pay for services you get with your investments. Fees are sometimes hidden and tricky to find. Make it a priority to know what you’re paying in total fees so you’re not duped into paying more than you should be paying.