You’ve worked for decades to build your nest egg - now it’s about keeping it. During an appearance on “Live in the D,” Phil Huff, a partner with Golden Reserve, LLC, said too many retirees overlook one quiet threat: fees.
“In investing, there’s really two big fees,” Huff said. “There’s the advisor fee … and then the second one is the investment fee. Both of these are very different, and both are actually pretty hard to see or know exactly what they are.”
That’s where Golden Reserve’s fee analysis comes in. Huff said the review pulls from your statements, lays out how you’re paying your advisor as a percentage and in real dollars each year, then does the same for mutual funds and annuities. It also projects what those costs add up to over 20 to 30 years of retirement - putting the long-term bite of a 1% to 1.5% annual charge into plain English.
“We’ve sat down with thousands of retirees as a company,” he said. “I can tell you on one hand how many people actually knew to the dollar what they’re paying. And it’s not the retiree’s fault - it’s the industry.”
Huff framed the fee check as one piece of a broader “retirement roadmap” that targets the biggest risks in retirement: taxes, market volatility, long-term care and income planning, along with fees. The goal, he said, is protection - so retirees can spend confidently without fear of running out.
To watch the segment, click the video above. For more information, call 313-888-8884.
Disclaimer: The information provided is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Financial instruments involve risk. Actual customer results may vary. Subject to full terms and conditions available at: goldenreserve.com.