What arrived in the mail the other day? Nothing more than a piece from Fidelity investments advertising they now have funds that are LOWER cost than Vanguards… Wow…
To see the change in the industry from a few decades ago to now, is nothing short of incredible.
John Bogle, Vanguard’s founder, was/is a pariah in the investment world. WHy? Because he shown a light on the sickening nature of investment managers getting rid off the back of their investors without adding ANY value.
For many a year, Bogle was demeaned. But the academics saw the light first and slowly, ever so slowly at first, the industry began to change.
Now, that Fidelity is competing with Vanguard on price shows you which side actually won.
However, there is still a lot to be wary about. Many an investment manager still charges well over 1%, even if the investments they use are low cost, such as Vanguards.
Don’t fall for this, my friends. If your investment guy is flying around the country in a private jet or going off on his yacht that is YOUR money.
It’s YOURS! And your investment manager is not adding value for your fee.
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