Why “Invest for the Long Term” is Obsolete Advice
It is a known fact that all mutual funds require fees regardless of whether you earn money or lose money. Moreover, Canadians actually pay much more for the same services than Americans do. Canadian fund profit margins are among the highest in the world. The no load funds simply charge an annual marketing fee which affects and will affect your returns forever.
So how many of you are actually happy with your return on investment in mutual funds?
So why is investing for the long term obsolete advice?
First, it is possible to receive much higher rates of return by making money work for you. It absolutely does not make sense to just hand over your money to a stranger and expect a decent return at some point in the future.
Secondly, if you have been holding on to your mutual funds for the long term, you have already lost the opportunity to invest in other phenomenal growth areas such as real estate over that period of time.
Remember, you have to be always willing to invest in your financial education to see potential in every opportunity and learn the ways to make money work for you!