Bogus Fees You Shouldn’t Pay
- By
Julia Austin
Source: Wrrn Withy Wchir Kheuxn Khanth / EyeEm / Getty
Some investment fees
If you invest money with a wealth management group, they will charge you fees in order to manage your portfolio. That is fine and normal. But, some companies charge a base fee for everyone—regardless of what your money is earning—and if that fee exceeds what you are earning, that’s sort of a rip-off. So, if your money is still small and just earning $300 a year but the company charges $400 a year to manage your funds, ask them to reduce that fee, at least until you’re earning more.
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