Mon Sep 09 2024, by Tyler Gardner

Investing TipsFinancial ManagementLow-Cost Index FundsInvestment AppsPersonal Finance

Avoiding the Number One Mistake with Your Money: The Hidden Costs of Investment Apps

The number one mistake you could make with your money right now is investing in an app that charges you $3 a month to invest. Let’s do the quick math.

You have $100. They’re charging you $3 a month. That’s $36 a year. Congratulations! Your first lesson in investing is that if the markets break even, you'll lose 36% due to those fees.

Therefore, it’s crucial to learn what a low-cost index fund is and invest accordingly. These options can help in maximizing your returns by minimizing costs.

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