Wolf Retirement Navigation September2018

TRUE SAVINGS

Are You Paying Too Much in Hidden Fees?

What’s the difference between a fair price and a hidden fee? To start, you typically know a fair price in advance and can decide whether or not the cost is worth what you’re getting. Meanwhile, most hidden fees make you want to pull out your hair. For example, you’re happy to pay the bill after a great dinner at an Italian restaurant, but if you look at the check and spot a “plate-sharing fee” because you and your spouse split an appetizer, you might have a few words for the manager.

Most people have no idea how much they are paying for their retirement accounts, let alone what they are paying for. This isn’t because people are willfully ignorant; it’s because they don’t know what questions to ask. Start by sitting down with your financial advisor and asking him or her to show you the total amount of your fees and what you are actually paying for. They legally have to disclose this information to you. Then, once you know what your accounts are costing you, do some homework. Go online and research exactly what it is you are paying for. Get a second opinion from another financial advisor, preferably a financial fiduciary who is focused on retirement and who will legally, ethically, and morally protect your interests. Ask if the service you are getting is worth the cost. Everyone’s financial situation is unique, and what works for some people may not work for others, but gathering information about your fees will help you make the right decision for your retirement future. Ready to take control of your retirement and get rid of unnecessary and/or excessive fees? Start by getting a Fee X-Ray from Wolf Retirement Navigation. Call 904-232-8760, and we’ll analyze your accounts, peeling back the layers to tell you exactly what you are paying each month. Get proactive and learn if these fees are worth the cost to your retirement plan.

Fees are everywhere, and retirement planning is no exception. In the

retirement world, 1.0% to 1.5% is a perfectly reasonable cost for managing an account. Unfortunately, an advisor might claim you are only paying 1.1%, but if you dig a little deeper, you may find a mess of hidden fees for other “perks” you never asked for. Turnover costs, marketing fees, and commissions are all common fees that can tack on an extra 1.2% to the overall price tag. Now you’re paying 2.3+% every year, which can add up to tens of thousands — perhaps hundreds of thousands — of dollars over the years taken from money earmarked for your retirement dreams and put into someone else’s pocket.

SUDOKU

INGREDIENTS

• 1 small loaf French bread, cut into 1-inch cubes (6 cups) • 3 tablespoons extra-virgin olive oil • 2 large tomatoes, cubed • 2 red bell peppers, seeded and cubed

• 1/2 red onion, thinly sliced • 1 cucumber, sliced into rounds • 20 basil leaves, chopped

• Salt, to taste • Vinaigrette

DIRECTIONS

1. Place a large sauté pan over medium-low heat and add olive oil. Add bread and 1 teaspoon salt, and toss often for 10 minutes or until toasted. 2. In a large bowl, mix vegetables and herbs. Toss in bread and your favorite vinaigrette and mix again. 3. Serve immediately or let sit 30 minutes to allow the flavors to meld together.

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