Perhaps you have noticed the fact that flying is slightly less glamorous than it used to be. I certainly have and it’s not just the necessary changes in security that makes me feel this way. The bigger issue is the downward spiral in overall value.
The airlines have steadily taken away services and amenities that used to be included in the basic ticket fare. The fact that it has devolved into an à la carte experience isn’t so bad, it’s just that the amenities that used to be included now have these high prices and fees associated with them. Flying has become pretty expensive as of late and, in spite of lower oil prices, continue to climb. Tack on fees to change a ticket, sit in a different seat, check a bag or even carry one on with certain airlines and flying can really start to eat into your vacation budget.
As expensive and frustrating as that can be, at least they don’t hide the fees. The one thing the airlines do very well is inform you of their fees. All of this got me thinking about hidden fees, and how they can cost you serious money if you’re not aware of them. In retirement planning, hidden fees can not only be annoying, but could actually be devastating to your plans over the long term.
One of the biggest problems with hidden fees is that they are just that: hidden. It takes a trained eye and experience to know where to look for the hidden fees that may be lurking in your investments. If you don’t know where to look in the packet of inch-thick investment notices, you’re not alone. Many financial professionals offer a service to find and identify the hidden fees in portfolios. They know where to look, what the charges mean, and most importantly, the long-term impacts they will have on a portfolio.
The best thing about it is that many financial professionals will include this service as part of your complimentary meeting with them. Fees are one of the biggest threats to your portfolio and that’s something you don’t want to be surprised by. So pick up the phone, schedule a complimentary meeting with a financial professional and request a hidden fee portfolio review. Who knows? You might just save enough money to pay for an aisle seat and Wi-Fi on your next flight.