In the world of investing, there are many different strategies and approaches that individuals can take to grow their wealth. From day trading to value investing, the options are seemingly endless. However, for those who are focused on maximizing their returns and minimizing their risks, there is a group of investors known as the "investment purists."
The investment purists believe in simplifying their investment strategy by reducing fees. They understand that fees can eat away at their returns over time, and they are committed to keeping costs as low as possible to maximize their impact.
One of the key ways that investment purists reduce fees is by choosing low cost index funds or exchange traded funds (ETFs) over actively managed mutual funds. Index funds and ETFs typically have lower expense ratios than actively managed funds, which means that investors get to keep more of their returns instead of paying them out in fees.
Another way that investment purists reduce fees is by avoiding unnecessary trading. They understand that frequent buying and selling of investments can lead to higher fees and taxes, so they take a long term approach to investing and focus on building a diversified portfolio that they can hold onto for years.
Additionally, investment purists are careful to research and compare fees before committing to any investment. They understand that even seemingly small differences in fees can add up over time, so they are diligent in finding the most cost effective options available.
By simplifying their investment strategy and reducing fees, investment purists are able to maximize their impact and grow their wealth over time. If you are looking to take a more disciplined approach to investing, consider following in the footsteps of the investment purists and focus on reducing fees to achieve your financial goals.