Are you tired of constantly being bombarded with complex investment strategies that promise high returns but come with a laundry list of fees attached? If so, you may be a candidate for the investment purist approach.
The investment purist is someone who believes in keeping their investment strategy simple and straightforward. They understand that fees can eat away at their returns over time, so they prioritize minimizing them wherever possible. By reducing fees, they can potentially increase their overall returns and achieve their financial goals more efficiently.
One of the first steps in simplifying your investment strategy is to take a closer look at the fees associated with your current investments. This includes management fees, trading fees, and any other costs that may be eating into your returns. By understanding where your money is going, you can make more informed decisions about where to invest and how to minimize fees.
One way to reduce fees is to opt for low cost index funds or exchange traded funds (ETFs) instead of actively managed funds. These passive investment options typically have lower fees because they track a specific index or asset class rather than trying to beat the market. By investing in these funds, you can potentially save on management fees and increase your overall returns over time.
Another way to simplify your investment strategy and reduce fees is to consolidate your accounts. By moving all of your investments into one brokerage account, you can potentially save on account maintenance fees and streamline your investment management process. This can also make it easier to track your overall performance and make adjustments as needed.
Ultimately, the investment purist approach is all about prioritizing simplicity and efficiency in your investment strategy. By reducing fees and focusing on straightforward, low cost investment options, you can potentially increase your overall returns and achieve your financial goals more effectively. So if you're ready to take control of your investments and simplify your strategy, consider adopting the investment purist mindset today.