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The 3 Simple Rules of Investing by George Peacock, Carol Fabbri, Kwok L. Tsui, Michael Edesess

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DEADLY TEMPTATION #2

Trust It All to Our Expertise

We told you in Rule #3 that if someone—a friend of yours, perhaps—tells you that a particular broker or financial advisor has done very well for her clients, and you should consider hiring her, you should tune it out. Wouldn’t it be great, though, to have someone take care of your investments? They would grow nicely, and you wouldn’t have to worry about a thing. It sounds very comforting to have someone just deal with the whole realm of investing for you, especially if you’re convinced it’s all too complicated and you just don’t want to think about it.

But is it worth giving up one-third to three-fourths of your investment gains for this comfort? If you knew that another, lower-cost advisor—offering ...

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