1% Fee Will Cost You Thousands by Curtis Ray
Financial Advisors like to argue the idea that insurance products are way too expensive, but never want to show the math to prove it. The expenses don't even compare. Here I demonstrate what MPI™ will charge you over the course of your life vs what a Financial Advisor would charge if you're:
Age : 35
Saving: $500/month
Financial Advisor Fees: 1% asset management fee, then .5% after you retire
MPI™: $12,000 (Over 55 Years)
Don't be fooled by hearing 1% FEE, like it's a one-time thing. That fee increases as your account grows over time. Which means he/she gets paid more for doing the same work when you started. Even on years when you lose money (down market). I'll let you decide if that sounds right to you.
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