The financial industry is adept at keeping its customers in the dark about what they are spending. There are plenty of regulations in place that are supposed to make such costs transparent, but most of the disclosures are in small print and peppered with legal terms. I’m not suggesting that all fees and charges are unfair. In fact, decades of consumer advocacy have reduced the number and types of tricks brokers, financial advisors, and money managers once used to fleece their… Read More

The financial industry is adept at keeping its customers in the dark about what they are spending. There are plenty of regulations in place that are supposed to make such costs transparent, but most of the disclosures are in small print and peppered with legal terms. I’m not suggesting that all fees and charges are unfair. In fact, decades of consumer advocacy have reduced the number and types of tricks brokers, financial advisors, and money managers once used to fleece their clients. But there are still things to watch out for… Some money managers and financial advisors provide a range of financial services, including asset allocation, stock and bond recommendations, reporting, and so on. Most of them will charge you a fee for financial advice. Some will also collect commissions on any transactions. One of the biggest problems with money managers and financial advisors is that they have a predisposition for mutual… Read More

“Contrary to popular modern belief, it is still quite possible for the successful individual to make his million — and more.” J. Paul Getty wrote these words in 1960, in his book, “How to Be Rich.” It’s as true now as it was then… and Getty shows his readers that anyone with the right mentality can get rich by developing a handful of habits.#-ad_banner-# Getty was a very rich man — the richest man in the country in his day. Getty made his fortune by buying up oil businesses at bargain prices just after the… Read More

“Contrary to popular modern belief, it is still quite possible for the successful individual to make his million — and more.” J. Paul Getty wrote these words in 1960, in his book, “How to Be Rich.” It’s as true now as it was then… and Getty shows his readers that anyone with the right mentality can get rich by developing a handful of habits.#-ad_banner-# Getty was a very rich man — the richest man in the country in his day. Getty made his fortune by buying up oil businesses at bargain prices just after the Depression. A small portion of the book is devoted to telling this story. The rest of it presents his thesis: Anyone with the right mentality can get rich by developing a handful of habits. “How to Be Rich” is very easy to read. Written as a series of essays for Playboy magazine, it feels like a casual conversation with a very rich friend. “Although there are no sure-fire formulas for achieving success in business,” Getty says, “there are some fundamental rules to the game, which, if followed, tip the odds of success very much in the businessman’s favor.” Those… Read More