Did you know that 50% of the return on your traditional bank investment, like a mutual fund, is eaten up by fees?
Did you know that Canadians pay the highest investment fees in the world?
I didn’t either. But then I saw this tweet:
Congratulations, Larry! I hope many, many, many people read it. https://t.co/y41LZgzOVD
— Sandi Martin (@SandiMartinSPF) September 5, 2018
As soon as I saw the tweet, I went to Amazon.ca and bought the book. It’s just what I had been looking for- a Candian book on investing (and it has the word “Simple” in the title!). I learned a lot from this book. The biggest thing?
If you want to retire richer, you probably need to change the way you’re investing.
And, it’s easier thank you think. (Audio interview below!)
Author Larry Bates is a former senior banker and investment industry insider. For much of his career, he worked with RBC Capital Markets, in both Toronto and London. His book, Beat The Bank – The Canadian Guide to Simply Successful Investing, is a MUST READ.
Larry Bates says, “Most investment advisors are good people, but they sell bad products. There is a better way.”
How hard is it to learn what you need to do?
“Investing can be simple. In fact, the simpler the better. It’s easy when you know how. Take a bit of time to learn investment basics……the more you learn, the more you’ll earn!”
I had the chance to speak with Larry and we talked about fees and low-cost options, DIY vs. Assemble It Yourself (AIY) investing, RESPs and RRSPs, and who benefits from hourly TSX reports etc.