I've never found a bad deal. I used to think Costco was just a place to buy items in bulk. I was so wrong...although we originally joined to get my favorite coffee at a steep discount. It's cheaper at Costco than buying direct from the brand's website. Also, we get all of our glasses at Costco. My husband buys most of his Eddie Bauer shorts and pants there. Everything we buy is cheaper (and often better qualify) at Costco...bed sheets, comforters, contact lens solution, vitamins, dog food, cleaning supplies, gift cards to your favorite restaurants for 20-30% less than face value, etc. We even bought a generator for camping. Not to mention the gas. We find so much at Costco that we upgraded to the executive membership, which pays for itself every year in cash back rewards. Before I buy anything, I always check Costco first.
Those decisions are made by state education agencies and local school boards. Fortunately, many districts have adopted financial literacy standards and curriculum. In Colorado, it’s now part of the state standards.
There’s no way people who are not working in personal finance will be familiar with all the tools, tricks and products which are available in the market. You sound like you have something to sell. Education and understanding your own investments/goals goes a long way in preventing those emotional responses...and makes it easier to stick with your plan. For the average person with limited choices in the company 401k, an advisor is unnecessary. In fact, the data is now pretty clear...those who buy and hold just a few low cost index funds come out ahead. If you want a great illustration of just how much those fees impact your portfolio, read this... https://humbledollar.com/2021/06/what-a-drag/
Thanks for your comment. As I mentioned in the article, it was presented as a "hot new investment option" that happened to have a life insurance benefit. These guys had an amazing presentation with graphs and charts about all the potential investment income we would make. They said no other investments would ever be needed. There was no mention of the exhorbitant fees, commissions, etc. Admittedly, we were completely ignorant about this stuff, so we fell for it. After the complaints began rolling in, these guys were eventually banned from making their presentation in any of the school districts. We were ignorant, but the presentation was a misrepresentation of what they were selling. It illustrated exactly why people need to learn how to invest and manage their own money, so they don't get mislead by slick sales people who are not true fiduciaries.
Comments
I've never found a bad deal. I used to think Costco was just a place to buy items in bulk. I was so wrong...although we originally joined to get my favorite coffee at a steep discount. It's cheaper at Costco than buying direct from the brand's website. Also, we get all of our glasses at Costco. My husband buys most of his Eddie Bauer shorts and pants there. Everything we buy is cheaper (and often better qualify) at Costco...bed sheets, comforters, contact lens solution, vitamins, dog food, cleaning supplies, gift cards to your favorite restaurants for 20-30% less than face value, etc. We even bought a generator for camping. Not to mention the gas. We find so much at Costco that we upgraded to the executive membership, which pays for itself every year in cash back rewards. Before I buy anything, I always check Costco first.
Post: Best/worst deals at Costco
Link to comment from July 21, 2024
Those decisions are made by state education agencies and local school boards. Fortunately, many districts have adopted financial literacy standards and curriculum. In Colorado, it’s now part of the state standards.
Post: My Money Education
Link to comment from October 25, 2023
There’s no way people who are not working in personal finance will be familiar with all the tools, tricks and products which are available in the market. You sound like you have something to sell. Education and understanding your own investments/goals goes a long way in preventing those emotional responses...and makes it easier to stick with your plan. For the average person with limited choices in the company 401k, an advisor is unnecessary. In fact, the data is now pretty clear...those who buy and hold just a few low cost index funds come out ahead. If you want a great illustration of just how much those fees impact your portfolio, read this... https://humbledollar.com/2021/06/what-a-drag/
Post: My Money Education
Link to comment from October 23, 2023
Thanks for your comment. As I mentioned in the article, it was presented as a "hot new investment option" that happened to have a life insurance benefit. These guys had an amazing presentation with graphs and charts about all the potential investment income we would make. They said no other investments would ever be needed. There was no mention of the exhorbitant fees, commissions, etc. Admittedly, we were completely ignorant about this stuff, so we fell for it. After the complaints began rolling in, these guys were eventually banned from making their presentation in any of the school districts. We were ignorant, but the presentation was a misrepresentation of what they were selling. It illustrated exactly why people need to learn how to invest and manage their own money, so they don't get mislead by slick sales people who are not true fiduciaries.
Post: My Money Education
Link to comment from October 23, 2023
My husband used a 457b at the end of his career. It was not an option when we were younger, so it wasn't the primary place for our investments.
Post: My Money Education
Link to comment from October 23, 2023
We also save a significant amount on our auto insurance by paying a lump sum every six months, rather than being billed monthly.
Post: Credit Where It’s Due
Link to comment from March 20, 2022