The Markets are fickle. But costs are something you can control, and keeping them down is crucial to your success as an investor.
Cut your fund fees. Okay, so you've wisely learned to avoid sales fees, but do you know how much your mutual funds really cost you each year? Morningstar's "Instant X-Ray" feature (click on "Tools" at www.morningstar.com) will break down your funds' fees into hard dollar figures and compare them with the average costs of similar funds. Boot out any funds with above-average expenses along with poorly performing actively managed funds, and replace them with low-cost index funds or exchange-traded funds.
Find a bargain broker. Our favorite online broker, Fidelity, doesn't have rock-bottom commissions, but we like its wide range of research and investment options. For bare-bones service, we favor ... Read the entire article.
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