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Beat the Bank: The Canadian Guide to Simply Successful Investing Paperback – Sept. 16 2018
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You work hard. You sacrifice to save. You risk your money in the market over your working lifetime and you trust your bank to treat you fairly. But your bank strips away half of your lifetime investment returns in fees, costing you tens of thousands, or even hundreds of thousands, of dollars. Without realizing it, millions of Canadians are in precisely this position.
How does the industry pull this off? The big Canadian bank, and by extension our entire financial industy, brilliantly capitalize on the combination of individual investors' poor understanding of fees, deep loyalty, and misplaced trust by charging Canadians the highest investment fees in the world. There is a better way!
Larry Bates, a former senior banker and investment industry insider turned investor advocate, reveals industry secrets and tactics that most hard-working, hard-saving Canadians need to be aware of to beat the banks at their own game.
Provides a step-by-step guide to investing that slashes banking fees and can potentially double investment returns.
Shows how to build a larger retirement nest egg by switching from high-cost mutual funds to more efficient, low-cost investment products.
Outlines a simple approach to investing that takes just a few hours each year to implement.
Offers the knowledge and tools to achieve the long-term investing success you and your family deserve.
Beat the Bank proves that you don't need to be an expert to invest successfully . . . you just need to know the basics. It's easy when you know how!
"The Wealthy Barber taught Canadians the importance of saving. Beat the Bank will teach Canadians the importance of investing well." Wanda Morris VP of Advocacy, CARP
"Larry Bates offers a detailed look at everything that's wrong with our "traditional" investment model and even more importantly, shows readers just how easy it is to invest their money simply - and successfully. A must read." Robert R. Brown, Author of Wealthing Like Rabbits, An Original and Occasionally Hilarious Introduction to the World of Personal Finance
"...enlightening, horrifying, entertaining and enormously useful" Neil Gross, former Executive Director, FAIR Canada<br.>
"If you wonder why your bank-sold mutual funds are going nowhere, Larry Bates has the answers." Ellen Roseman, Toronto Star consumer columnist and investing instructor at University of Toronto school of continuing education.
"Millions of Canadian mutual fund investors unknowingly pay fees that erode their returns by as much as 50% over time! Industry insider Larry Bates clearly explains how, why, and what you can do about it." Robb Engen, Boomer & Echo
"Larry shares some powerful stories over his 35 years as an investment banker. It's like you're a fly on the wall in his office. Beat the Bank should be required reading in Ontario's new financial literacy course in high school." Sean Cooper, Bestselling Author of Burn Your Mortgage and Mortgage Agent
About the Author
Larry Bates reveals the secrets, decodes the mystery and provides a simple, step-by-step guide to investing, proving conclusively that you don't need to be an expert to invest successfully...you just need to know the basics. It's easy when you know how! For more about Larry Bates go to www.larrybates.ca
- Publisher : Milner; 1st edition (Sept. 16 2018)
- Language : English
- Paperback : 208 pages
- ISBN-10 : 1775343707
- ISBN-13 : 978-1775343707
- Item weight : 281 g
- Dimensions : 15.29 x 1.3 x 22.81 cm
- Best Sellers Rank: #660 in Books (See Top 100 in Books)
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However, some ideas are universal. Start early, invest in ETFs instead of Mutual Funds, and leave your investment to grow. Plan for decades, and trust the power of North American market. Don't worry about fluctuations and crashes.
From that perspective, I believe it will be highly beneficial to Americans.
This is not a book for daily investors, but for people who prefer to spend few hours per year on management of their investments.