In the world of investing, fees can eat away at your returns faster than you might think. That's why many savvy investors are turning to the lean investing method to streamline their portfolio and maximize their profits.
The lean investing method is all about cutting out unnecessary fees and expenses in order to fatten up your returns. By being mindful of where your money is going, you can ensure that more of it stays in your pocket where it belongs.
One of the first steps in the lean investing method is to take a close look at your investment accounts and see where you can trim down fees. Are you paying high management fees for your mutual funds or ETFs? Consider switching to lower cost index funds or ETFs to save on expenses.
Another way to trim down fees is to avoid unnecessary trading. Frequent buying and selling can rack up fees quickly, so it's important to have a long term investment strategy and stick to it. By reducing the number of trades you make, you can save on transaction costs and keep more of your returns.
It's also important to be mindful of the fees associated with your investment platform. Some brokerage accounts charge higher fees than others, so it's worth shopping around to find the best deal. Look for platforms that offer low or no commission trading, as well as competitive pricing on other services.
By following the lean investing method, you can streamline your investments and minimize fees, allowing you to fatten up your returns over time. With a little bit of effort and attention to detail, you can make the most of your hard earned money and watch your investments grow.