Amateur Hour and School Fees

[Bandit]

Oh, that sweet smell of a new brokerage account, a successful money transfer and confidence to boot! The world is mine for the taking, this is gonna be awesome, this is FREEDOM! MWUAHAHAHAHA!!!

 

 

…and then it’s not so awesome anymore. Let me tell you a story.

 

Class photo: 2003

 

Humble beginnings

 

When I started out FNB just introduced a new product: FNB Share Saver. It’s brilliant for the new guy who knows nothing about ETFs or unit trusts and comes with the sales line that it will invest in the top 100 JSE shares (ooooh!) for you all at a very VERY good cost of 0.1% per transaction. A few clicks later and I was up and running within 10 minutes (being and FNB client already). AWESOME!

 

Fast forward a few years, articles, blog posts and co-workers bragging about how Satrix INDI is going to make them retire early and I quickly realised that FNB’s Share Saver is not for me anymore. I have outgrown it and it is flawed!

 

 

More: http://www.offtopic.co.za/finance/amateur-hour-and-school-fees/