Why I hate Mutual Funds and you should too : Conclusion
MUTUAL FUNDS HAD THEIR DAY
The number of mutual fund choices available to investors is overwhelming. It currently stands at over 10,00029 — 10,000 funds that want you to pay their exorbitant fees, share others’ tax liabilities, accept poor performance, live with less than all the facts about fund management and be content with the system. You realize that it costs you. So, why write a check to a mutual fund?
In 1924, the Ford Model T represented half of all cars on the road. It took everyday people to more places and improved the quality of life. Mutual funds came into existence in the same era. They, too, brought opportunities to common folks, but they’ve had their day.
Financially, it’s time to live in the 21st century. It’s time to use modern financial tools, not the tools that cost you money, control and performance. That’s why, I take a strong position. I hate mutual funds. You should, too.