Top positive review
Must read for the middle class investor.
January 7, 2017
As a teacher myself, the title could not have been more appealing. In this essential volume, Hallam underscores just how foolish it is to thoughtlessly put one's retirement savings into mutual funds and other investment products with high management expense ratio (MERs). With the advent of ETFs and low-cost online brokerages, it is easier than ever to avoid commissions and fees by building a balanced (and re-balanced) portfolio of bonds, and international and domestic equities. He lifts the curtain on the commission structure behind certain funds, and the lack of knowledge of the average bank investment advisor. You won't beat the market following Hallam's strategy (and, on average, nobody does) but you will beat the majority of middle class investors who see 2-3% lost to fees every year. Hallam is Canadian and illustrates what products are available domestically, including some of the highest MER fees around, but also offers examples tailored to investors in America, Australia, Britain and Singapore.
A must read.