Episode 2: Hidden Fees and Half-Truths — How Wall Street Fools You into Overpaying for Underperformance
Tony and Peter Mallouk discuss the hidden fees your financial advisor probably isn’t telling you about, and how Unshakeable can arm you to remove these fees before they damage your future.
What do you see yourself doing when you’re 75 years old? Many of us have plans for a worry free retirement but sadly, the fees that most people are paying could make that an impossibility. There is a hole in the boat and it could very well sink you without an emergency fix.
If this sounds dramatic, that’s because it is. In Unshakeable, Tony reveals the truth about the hidden fees that most financial advisors and fund managers won’t talk about: they have a dramatic impact on your net returns and your financial security, without giving you any added benefit.
In Chapter 3 of Unshakeable, Tony and co-author Peter Mallouk take an in-depth look at the real impact fees have on the average person’s retirement savings, and why these fees often go unnoticed. Overpaying in annual fees on your mutual funds takes an enormous bite out of your nest egg. The worst part is, you’re not paying for better results — as 96% of all actively managed mutual funds fail to beat the market. The average investor is simply overpaying for underperformance.
In this episode of The Unshakeable Podcast, Tony and Peter explain the severe impact hidden fees and taxes can have on your financial future, why the industry makes it difficult to uncover these fees, and how you can remove hidden fees from your investment strategy — putting more money directly into your pocket.
Legal Disclosure: Tony Robbins is a board member and Chief of Investor Psychology at Creative Planning, Inc., an SEC Registered Investment Advisor (RIA) with wealth managers serving all 50 states. Mr. Robbins receives compensation for serving in this capacity based on increased business derived by Creative Planning from his services. Accordingly, Mr. Robbins has a financial incentive to refer investors to Creative Planning.