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Re: Investing as Retirement Supplement
I worked for a full service investment firm about 20 years ago. Worked on commission, not a flat fee. My firm was adamant about a long term buy and hold strategy, so I'd put people in funds with low expenses and a good track record (hard to find after the dot com bubble burst). Right around that time a lot of places were transitioning to fee-based services and for the life of me I couldn't figure out how they got people to go for it. I sold a fund and got a sales commission and then collected minuscule trailing fees direct from the fund company (.25%/year). If I'm advising them to leave it alone for 25 years, how on earth does it make sense for them to pay 2% annually? I turned out to be a good advisor but a lousy salesman and came back to music.