Month: August 2021

Total Fees – You Are Probably Paying Lot More Than 1% Per Year

Written on .

Do you really know the total fees you’re paying to have your assets managed? 1 percent is the typical advisor fee. An additional 1 percent is the typical money manager fee to manage your assets.

According to the New York Times, 1.23 percent is an average mutual fund expense…. you can find it listed in your prospectus. Add to this a 1.44 percent average mutual fund trading cost, which is, according to Forbes, a hidden cost at the mutual fund level, incurred when each mutual fund manager buys and sells stocks and/or bonds in the portfolio.

Continue reading

Dan Ahmad & Jim Files Were Recently Featured on “Your California Life”

Written on .

your california life

Dan Ahmad and Jim Files of Peak Financial Freedom Group recently sat down with “Your California Life” to discuss what they see as the biggest mistake retirees make when it comes to their finances. They also provide insight into how you can smartly manage your investments and mitigate risk in your portfolio as you approach retirement as well as once you’re in retirement. Watch the whole interview here, or learn more about Dan and Jim’s golden rule for assessing financial risk here.

Why Money Brings Up Such Powerful Emotions

Written on .

money and emotions
Tips to Tame the Fear and Anxiety You May Feel About Your Finances

The following content has been adapted from Chapter 24 of Momma’s Secret Recipe for Retirement Success, by Dan Ahmad & Jim Files.

For many people, money is scary. It produces anxiety and many other powerful emotions, too. Oftentimes, the root of fear or anxiety is that you don’t truly understand your finances. You may even blame yourself for your “lack of financial intelligence.” However, we believe that for the overwhelming majority of retirees, the confusion and lack of understanding have nothing to do with personal shortcomings. If you feel confused and don’t understand your money, it’s because you don’t have an actual plan in writing.

Continue reading

Have You Had A Risk Stress Test Performed On Your Portfolio?

Written on .

You can’t suffer a big loss to your savings now you’re retired or nearing retirement, you might not make it up, and you could run out of money. Most retirees we meet with are taking far more risk than they thought and could lose twenty to fifty percent of their savings. Even if you have a diversified portfolio, you could lose a lot, so you should have a risk stress test on your portfolio. You need to know how much risk you’re taking right now before you suffer a big loss because then it would be too late.

Continue reading