@nobudgetbabe: Have you seen the @CBC News report on banks giving bad financial advice so they can hit their sales targets? Ya. Telling you to open up new credit cards, new accounts, pre approving you for lines of credit, recommending expensive mutual funds or investments that are not suited to your goals... Oh, and lying about the fees they charge. I've been saying this for YEARS. You wouldn't go to the mechanic without knowing about cars or asking someone who does, BUT YOU'RE GOING IN BLIND WHEN IT COMES TO YOUR FINANCIAL FUTURE? Babes. A "small" fee of 2.5% means you'll have to save and invest DOUBLE that of someone who invests on their own to end up with the same amount. So if you could hit your goal with $200 a month, now you need $400. Not to mention the fact that in so many cases they're putting you into a "low risk portfolio" in your 20s or 30s because it's easier than explaining how the markets actually work. This happened to one of my students and after fees she was making 1.5%... she would have been better off putting that money into a HYSA!!! If she was invested properly she could have EASILY doubled her money in that 13 year period, but instead she made a couple hundred on a 5 figure account. The bank made more off her money than she did. 🤮 It's time to take your power back. Take our free investing masterclass and learn how money works so you can SIT AT THE TABLE and have a conversation about your future. Your Future Self will thank you 🤍
