Thanks to all of you who responded to my recent request to share your own "Wake-Up Calls". Here is a sampling (including one from a financial industry insider):
"My wake-up call was the first time I discovered compound interest." KK
"After reading your book, I closely looked at my investments and now I share your sister feelings." PT
"The wake-up call is that long term, lower-risk investments are far more likely to generate "Healthy Market" returns IF management fees are minimized. Wish I knew this 10 years ago." DW
"My wake up call came after reading your book and not realizing how fees affected my returns in the long run. I am currently have a dividend paying mutual fund with a MER of 1.73% and after applying the T-REX calculation it produced a score of 57%. I can relate to your sister's story on so many levels and decided to quickly change my investment strategy, I have an appointment with my Bank and will be cashing in my mutual fund for ETFs with low MER's. Here's the ironic part, I actually work for a financial institution and realize now that it's time to take control of my investments, it's time to Wake Up!" ME
"I purchased your book 2 months ago and I could not believe how I was again taken in by unscrupulous agents at my bank. I was charged an average of 2% for a return of 4% for the past three years and nothing in the last three months." GB
"A revelation for me was the immense impact of taxation on returns and the lack luster returns of bonds in a taxable account." SF
"I will be managing my personal RRSP plan after seeing how much my financial adviser is charging for very limited services and low account performance." HB
I would love to hear from you too!
Obviously, stock prices were down sharply this week. If you are a long term investor, the best course of action is to ignore short term market moves. Five or ten years from now, what happened this week will be completely irrelevant and totally forgotten.
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Your Market News update for May 30, 2019 | View online Market News News that's moving the market now As Trade-War Worries Linger, Market Seems to Lack Buying Conviction May 30, 2019 8:40 AM | JJ Kinahan 6 min read | Daily Market Update