Not exact matches
If the sales chump (er, I mean «licensed professional financial adviser») can't give you a complete and total rundown of every
fee (expense, charge,
penalty, cost or whatever other lame - ass euphemism he wants to use),
run away and invest in a Vanguard index fund — just compare the expense ratio.
Aside from losing money you might have needed for your bills, you also
run the risk of overdraft
fees and
penalties.
If the annuity owner decides to cancel the annuity and access the funds early, cancellation
fees can
run as high as 15 % in addition to a 10 % tax
penalty.
There is no
penalty fee for exceeding a credit limit, and a returned payment is charged with a
fee that
runs up to a $ 37 maximum.
While CDs typically make more money in the long
run, early withdrawal of assets in CDs may result in
penalty fees, so investors will often put money into a CD and forget about it until it matures.
Withdrawing funds from your retirement funds can be costly with
fees and tax
penalties, but they can also cost you in the long
run as you lose out on potential interest / investment gains.
My spouse had always said that we'd do the 10 %
penalty fee (plan C) if our other sources
ran out before 60; those being a 457b plus HSA (plan A), and then any Roth contributions (plan B).
According to them, the threat of those
penalties and the hundreds of dollars they charge in setup and maintenance
fees are worth it to save tens of thousands of dollars in the long
run.
Oh, the airlines then cash in if you have to change a ticket, in some cases there is a
penalty of $ 500, so what ends up happening is you pay almost as much for that business class ticket, plus 40,000 miles so in the long
run it's sometimes better just to pay the
fee, or hope the ticket is discounted.
It may seem frustrating, but in the long
run, paying attention to every detail may protect you from unanticipated
fees or
penalties, or unwanted liability or debt.