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Showerthought: My broker's 'free trade' offer at the local investor meetup last month made me check the fine print on every account fee.
I was at the meetup in Charlotte when he offered it, and I realized I'd been paying $7 per option contract with my old broker for years without even thinking about it.
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linda_knight515mo ago
Hot take: Fees are silent killers.
That's the whole game, nickel and diming you where you don't look. They bank on you not checking the statements closely. I switched to a flat fee structure for my trades a while back and it was a wake up call. How many other hidden costs are people just accepting?
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hugo6456mo ago
That $7 per contract fee is the financial world's version of a hotel mini bar. You don't notice the tiny bottles until you get the bill and realize you just paid $12 for a bag of peanuts. My old 401k had an annual "record keeping" fee that was basically a charge for them to hold my own money.
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