SAVE BROKERAGE COMMISSIONS!

Paul B. Farrell: Save money in retirement by self-managing portfolio - Financial - Financial Services - Mutual Funds - Personal Finance

What a spread!
charges $5 for the same trade for which the "discount broker" Wachovia charges $34.95. "Full service" firms charge over $325 for the same trade! How can this be? If one gas station charged $2 per gallon, a second could sell very little gas at $14 per gallon and a "full service" station could not charge $130 per gallon. The "full service" broker would argue that while everyone can pump gas, not everyone can select stocks.

In the above referenced article, Paul B. Farrell argues that one can save a lot of money by managing ones own portfolio. He makes the point that index funds do well relative to managed mutual funds.

Some folks need more investment assistance than others. Those who need help should be careful not to overpay.