Costly Consumer Fees Of Which You Should Be Mindful

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About Del Fujinaka

CWS, CEPA
Del is a Safe Money Retirement Specialist and Cash Flow Strategist dedicated to helping small businesses and family estates navigate complex retirement decisions. As individuals retire earlier and live longer, retirement income and protection from losses are major areas of concern for maturing Hawaii and California Residents.Del is different… He has combined his three decades of financial experience and business ownership to create an individual approach to retirement planning and wealth management, which conventional advisors never consider. Del Fujinaka is committed to unbiased financial education, which is critical to your understanding. You DO NOT have to expose your retirement to unnecessary taxes or market risks. You DO NOT have to be afraid of depleting your savings. You DO NOT have to watch long term care expenses devour your wealth.

Becoming financially savvy is key to living a comfortable retirement, so let’s explore how soon to make the most of your money! Money experts agree that certain consumer fees can be particularly costly for retirees and soon-to-be retirees. To help, we’ve outlined some of the worst consumer fees to watch out for and ways to avoid them.

Financial Experts Agree That Overpaying on Debt Interest Is the Worst Consumer Fee

Credit cards and mortgages are especially prone to high rates, but there are ways to avoid unnecessarily high costs. The simplest way is by doing research into different financial institutions and their respective interest rates before signing up for any loan or credit card. Additionally, paying off existing debts as quickly as possible will reduce the amount of interest that accrues over time.

Late Fees Can Also Be Costly if You Forget to Pay Bills on Time

Late fees can also take a toll on your budget if you forget to pay bills on time. One way to keep track of due dates is by using calendar reminders or automated payment systems like Mint Bills, so you always know when payments are due. Check with your bank, as well, to see if they provide a bill pay option.  If you do miss a payment, it’s important to contact customer service immediately so they can work with you regarding any late fee penalties or skipped payments.

High-Fee Retirement Plans Should Be Avoided When Possible

High-fee retirement plans should be avoided when possible to maximize your savings. Fixed-indexed annuities are an alternative option for those who want lower-risk investments with competitive returns over long periods of time. Additionally, index funds are proving more advantageous than hedge funds when investing for long-term growth as they offer lower expenses while still providing strong performance potentials.

Common Household Service Fees Add Up Quickly Without Proper Management

Common household services fees such as ATM or late payment fees often go unnoticed until they start adding up significantly each month or year; however, these expenses can easily be managed with just a little effort and preparation ahead of time. For example, opting out of overdraft protection on your bank account saves you from paying hefty overdraft fees each month; instead, placing a limit on your debit card to simply declines a purchase if there isn’t enough money in the account. Plus, companies may offer refunds for certain types of fees when requested politely—so don’t hesitate to ask!

Conclusion: Financial advisors recommend being mindful of what consumer fees you pay to maximize savings during retirement years and beyond. By proactively researching debt interest rates before joining institutions like credit card companies and banks, staying disciplined about paying bills on time, and avoiding high-fee retirement plans whenever possible—you will save yourself from unnecessary financial stress in the long run! Becoming financially savvy now will help ensure that your golden years are comfortably funded and enjoyable!

 

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About Del Fujinaka

Del is a Safe Money Retirement Specialist and Cash Flow Strategist dedicated to helping small businesses and family estates navigate complex retirement decisions. As individuals retire earlier and live longer, retirement income and protection from losses are major areas of concern for maturing Hawaii and California Residents.Del is different… He has combined his three decades of financial experience and business ownership to create an individual approach to retirement planning and wealth management, which conventional advisors never consider. Del Fujinaka is committed to unbiased financial education, which is critical to your understanding. You DO NOT have to expose your retirement to unnecessary taxes or market risks. You DO NOT have to be afraid of depleting your savings. You DO NOT have to watch long term care expenses devour your wealth.

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