BNN is traditionally a channel for day traders- the what is hot today conversations often litter the broadcast. If you have been a reader of my blog it is needless to say this channel therefore doesn’t normally interest me. While flipping around the TV the other night I accidentally landed on BNN which was showing an episode of the series Stock and Awe as it differs from their normal format of stock “experts” and speculation I paused to give it a watch.
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If you want to be successful with investing you have to have some money to invest- sorry, no way around it. Logically there are only two ways to solve that problem either increase your top line and bring in more income or decrease your bottom line and find some ways to squeeze dollars out.
The first place I look at when it comes to the bottom line are fees. I hate fees. Think about it, we gets fees for having a bank account (so you hold my money and I pay you?), fees for your brokerage account, fees for your credit card, fees, fees fees! It is incredible how much money can seep out paying a tiny fee here a tiny fee here. I’ve done some research, here is what I recommend.
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I had an interesting email conversation with a reader named Bill that I wanted to share. Bill is a stock broker in Oregon and has been working with the same brokerage firm for over 10 years. As I have taken several opportunities to slag their profession I was interested to hear more about his experiences. In the back and forth chat he said something that I think epitomizes my real issue with brokers.
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