What You're Paying For Financial Fees -- and How To Avoid Them
NEW YORK (TheStreet) -- Investing for your financial future is a high priority for Americans at any age, but it means you have to watch for and cut fees and expenses that can drain your assets at a bank or investment firm.
FeeX, a New York firm specializing in cutting fees for consumers, provides a helpful (and alarming) glimpse of just how much damage fees can do your financial fortunes.
For example, $760 in fees compounded over a quarter-century will grow (on a compounded basis) to $81,722 assuming a 5% annual rate of return.
That's more than $81,000 you could have really used for your retirement, or for big-ticket items such as college spending or the purchase of a new home.5 Fees You Shouldn't Be Paying -- Ever CD Rates Could Rise With Fed, But Watch Out for Fees 5 Ways to Hike Your IRA Contributions
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