Talked to a retiree at the DMV who switched from a bank to a broker 20 years ago

He said he paid a flat $200 fee instead of 1.5% every year on his account and asked me why anyone still uses banks for investments, has anyone else heard arguments like that and what did you decide?

2 comments

2 Comments

grant.luna6d ago

Switched my parents to a flat-fee setup and saved them thousands over the years.

rivera.holly5d ago

Oh nice, so you basically became their financial advisor without having to wear the khakis. That's a win-win for everyone involved. Now if only we could explain to them why Netflix keeps going up every year.