Discussion

Robert,
What about "no load" mutual funds? That is what I used to have. You do not mention them at all. Are they just as bad as the others or are they better?

I personally do not have mutual funds nor, will I ever. I would never put my money in something thing that I have no control over. If you are lucky enough to actually come out ahead the fund managers have "maintenance fees" that will take care of all your profits from the market that your hard earned money gained. Buy, hold and diversify is the mantra these managers tout the financially undeducated. I'm curious as to how many people are continuing to park their money in such a risky investment. With the market odds being they are, I think you would have better odds going to Las Vegas and playing some cards at the tables. There is really no difference between the two. Once the money is down on the table (or market) it's no longer yours.

Real Estate and hard assets are the way to go.

Thanks again for doing this book Robert. I have learned so much from the Rich Dad series that it's priceless. Let's do some real estate together.

I have heard and agree that the fees on mutual funds are not the way to go. I have not heard how to get out of the mutual fund without costing me with penalties and more expenses. I would love to hear what everyone should do to get out of thier mutual fund.

Kia ora Robert,
this is exactly why I have opposed my Iwi (tribe) starting Whai Rawa or our tribal savings scheme. My argument has being that the maximum $100 a year you put in matched by the Iwi plus something like a dividend last year I think it was $234 is a waste of time. When the fund mangers are collecting $700K a year which would be better spent on educating our people say buying a copy of Cash flow for each whanau(family).

Maori & pacific Islanders are more hands on in their learning so it makes sense rather than the books. instead we are pushing people into trying to get to Uni or be part of a savings scheme that rewards them with a pittance.

they would be better off working off the Monkeydex.com where the monkey out performs fund managers & the market.

Actually i am apauled at how much thay actually charge. i just asked mine to break down the information in am itemized bill. Right i am still educationg myself and learning what I can do without him. I want to go to the next level? I want finaical freedom. He'll probably come up with some reason why I should not follow you, and I have pray and make the decision about doing my finances God's way. That is another book I have that i need to read.

I've never gotten into mutual funds, partly because I don't understand it and partly because of what I do know, it does not seem like a 'good deal'.

Ian Anderson
http://www.myfriendian.com

One of the most dangerous people on earth, who will keep you working hard forever are those call them self Financial Planners who sells Mutual Funds or Unit trust fund. They will con you to take out your money from your retirement plan and there it goes whooshhhh...

BEWARE!!! Of them.. I am NOT Against THEM... I am against those who DON'T Have Financial Intelligence and BLINDLY Gamble their Money into this scheme and STAY Egoistic About it...

I still remember one of my friend said that he is financially free?? I asked him HOW? He said that he have all his money well "PROTECTED" in this Mutual Fund scheme. That was 5 years ago..

And Now!!! All his money lost almost 75% of the value... What is he doing now... Still Being EGOISTIC about his great SCHEME... PPL who are out there!!! WAKE UP!! GO and GET yourself Financially Educated for GOD Sake!!!

Looks like they win even if you lose. Some deal. How does someone get a piece of their action? Better yet, why not buy shares of an index fund that tracks the S&P.... if you're going to buy and hold? At least- over the long run- you'd come out with some positive gain.

Makes me think of the saying "Two steps forward one step back". However, once your done you have to roll the dice since you don't know if the stocket market will be up or down when you retire.

Thank you for the information that you are making me aware of. I was reading an online article last night on how smart it is to start investing in mutual funds in your 20s and to live below your means at the same time. This made me angry. I could not help myself and responded to the article as well as to another respondant's comments. Kind of scaring myself that I am actually starting to think for myself and am able to make responses. Here is the link if you are interested: http://finance.sympatico.msn.ca/savingsdebt/lizpulliamweston/article.aspx?cp-documentid=20478704
My handle is "Skipper" and the comment thread is listed at the end of the article. Cheers!

Skipper

What bothers me about them is that they earn money whether they perform or not ie they dont deliver what you buy yet you still pay in other words you pay your hard earned cash and get nothing for it.You may even lose what youve invested and still have to pay them.Brian Matthews