October 10, 2025 • 13 mins
Alright, folks, let’s dive into some juicy money talk! Did you know that a whopping 21% of investors think they pay no fees on their investments? Yep, crazy, right? Today, we’re breaking down why understanding those sneaky fees is super critical because they can munch away at your returns like there’s no tomorrow. We’ve got some wild stats and real-life stories to show just how much these fees can cost ya over time—think thousands of dollars! So, whether you’re a seasoned investor or just dipping your toes in, stick around as we spill the beans on expense ratios and how to keep your hard-earned cash from slipping through the cracks. Let's get this money party started!
Check the full podcast episode here
Alright, so we dive into some mind-blowing stats about investment fees that’ll make you go, "Wait, what?" Turns out a whopping 21% of investors think they’re cruising without paying any fees at all—like, hello, wake-up call! And as if that’s not wild enough, 70% of folks don’t even know how much they’re actually shelling out. It’s like throwing money into a black hole and hoping for a miracle. We’re chatting about how these hidden fees can silently gnaw away at your hard-earned cash over time. Ah, the joys of compound interest—until those fees come into play and make your returns look more like a sad little snack than a full meal. We break it down, and trust me, it’s crucial to know what these expense ratios are. They’re the sneaky little guys that could cost you thousands! So, if you’re listening and thinking you’re getting a sweet deal, you might wanna check again because those fees are like that annoying friend who just won’t leave the party. Don’t be that person who’s out of the loop about their own money!
Takeaways:
- A surprising 21% of investors think they pay no fees on their investments, which is wild!
- Did you know that 70% of investors have no clue how much they're paying in fees?
- Understanding your investment fees is crucial because they can eat away your returns over time.
- A small 1% fee can reduce your investment returns by thousands over the years, so don’t ignore it!
- It’s important to ask your broker about fees; knowledge is power when it comes to investing!
- Switching from a high expense ratio to a low one can save you significant cash in the long run!
Links referenced in this episode:
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Here's something you might notknow. Did you know that your investments
actually have a price tag onthem? As I was preparing for the
show, I thought about, youknow, a lot of people don't know
this. And I found some amazingstatistics. Listen to some of these.
21% of investors believe theypay no fees on their investments.
You may be one of those peopleright now listening, Ralph. What
(00:21):
do you mean I'm paying for myinvestments? Yes, we're going to
get to that in a minute.Listen to this. Another 17% don't
know how much they pay infees. So 21% don't know that they're
paying fees. And 70% don'tknow how much their fees are. And
87% say they're aware of thefees. But the term expense ratio
(00:41):
has no idea what that means.30% say they completely understand
it. Similarly, this is aninteresting statistic as well. 83%
had heard of basis points, butonly 25% completely understood those
in one survey. Listen to this.73% of investors didn't know how
much they paid in investingrelated fees last year. And 64%,
(01:05):
here's the truly tragicstatistic of this. 64% didn't know
how to check what fees arebeing charged. Well, that's what
I talk about on today's showbecause you've got to, this is so
mission critical. As we workthrough this series of investments,
it is mission critical thatyou understand how to find these
fees, how to and really how tonegotiate them. I got a listener
(01:27):
question. So fellow wrotethis. He said, ralph, I know I'm
paying something for myinvestments, but I don't really understand
the fees. Are they really abig deal? Let me just tell you right
now, they are a huge deal.Investment fees might look small,
but think about this for asecond. Maybe 1% or 2% here and there,
(01:47):
but over time. So we're reallygoing to drill into on today's show.
Over time they can quietly eataway at your returns and cost you
thousands of dollars. Yes, youheard me right. Thousands of dollars.
That's what I'm going to coveron today's show. This is Financially
Confident Christian, yourdaily dose of gospel grounded insight
and faith driven tips to helpyou break the cycle of financial
(02:09):
shame with confidence. Thankyou for joining me on the show today.
My name is Ralph and I'veworked with hundreds of clients working
with their investmentportfolios. And the truth is, and
this is really a sad truth, Ihave found that these fees are draining
their growth over time. Andhere's the problem. A lot of people
didn't even realize that theywere paying them and how much they
(02:33):
were losing. If you've beenlistening to this series, you know,
I don't actually sellinvestments, but I've been working
with clients to help themshift into some lower cost options
that save them significantmoney without changing their goals.
Here's a really broad exampleof what I'm talking about, of just
what these fees cost you overtime. Because it's one thing to say,
okay, Ralph, I get it,somebody's got to make money in this.
(02:56):
But you got to understand theimpact of this. And I'm going to
start with a quote. This isfrom Jack Bogle. I mentioned him
the other day. Jack is thepresident of Vanguard. And Jack had
this brilliant quote. He said,in investing, you get what you don't
pay for. I thought that wasgreat. Think about that for a second.
In investing, you get what youdon't pay for. So let me tell you
(03:17):
about my client story. Clienthad an expensive mutual fund. Listen
to this. And you're going tounderstand what this is just in a
couple minutes. But thismutual fund had a 1.5% expense ratio.
So basically what that meansis that whatever the value that fund
was, 1.5% of that was goingfor an expense. Well, I worked with
him and I was able to find himan investment that switched to.05%.
(03:40):
And listen, that saved himthousands of dollars over the years
without sacrificingperformance. And I'm going to show
you some actual numbers herein a few minutes. But that's what
we need to talk about on theshow today. So here's the main parts
of what we really need todrill into. A lot of people don't
understand when I starttalking about expense ratios. What
is an expense ratio? Let'sstart there. An expense ratio is
(04:01):
basically the annual fee forrunning the fund. If somebody's going
to be a professional moneymanager, they, they are going to
charge a fee to run that fundbecause they have work to do. They
have to go and look at thedifferent investments, decide on
the trades. There's a lot ofwork that goes into this. But even
1%, if they're charging a 1%fee versus a 0.1% makes a huge difference
(04:23):
over the decades. So that'swhere it starts. The first thing
you've got to reallyunderstand is what are the expense
ratios? So if you're lookingfor an investment, one of the things
that I counsel clients onalmost every day in my practice is
what I what is the investmentexpense. What are the expense ratios?
Because it's easy to hear froma friend. Oh, Ralph, I've got this
investment idea. This thing issoaring, dude. You gotta buy into
(04:46):
this. It is so important thatyou understand so that you can compare
apples and apples and notapples and grapefruit. So it starts
there. Think about the examplewe talked about. Just that little
bit of a change can save youthousands of dollars. Another big
number that we have tounderstand is what's called a load
or commission. Now I'm notgonna get into into super complicated
(05:06):
things because with this 30day series, my goal was to really
give you a 30,000 foot view.But loads and commissions are what
they charge at the front end.So in other words, what I'm saying
here is some funds, when youbuy into them, they charge you a
fee to buy or sell. That I'mgoing to tell you right now, my personal
advice is watch out for theseand avoid those if possible. I don't
(05:29):
like those, so that's just mypersonal bias. But I don't like those.
So that's the second thing.Loads and commissions. Another thing
is advisor fees. And let mejust tell you right now, I've seen
these things make huge impactson people. It's one thing to pay
for advice. A lot of brokerscharge an advisor fee. You're paying
them for advice. You're payingfor the intellectual property. I
(05:51):
do another show called Gritand Growth Business and I was talking
the other day as I wasrecording a show about pricing. Everybody
is entitled to make money atwhat they do. But the key to today
is know what you're paying forand is it worth it? It's fine to
get professional advice.People pay me for professional advice.
But as part of understandingthe fees you're paying with your
investments, understand whatyou're paying for and ask yourself
(06:15):
that difficult question, am Igetting value for this? The other
thing you've really got tothink about is the long term impact.
Like I mentioned a few minutesago, a small 1% fee can mean losing
hundreds of thousands over alifetime of investing. I might get
to an example here in a secondbecause you're not going to believe
this number. The good news inall of this, that's why I did this
(06:36):
show today. There are low costfunds available, you just need to
look. So look at this. Let'stalk about this example. Let me pull
up my notes here. Here's theexample. If you have $100,000 invested,
so that's your investment.It's a lot of money. But let's just
say over time you'veaccumulated $100,000. You. And let's
say it's growing at 4%annually. And let's say you're going
to do that for 20 years. Thefinal value of that investment depends
(07:00):
heavily on the fees beingcharged. So think about this. So
like I said, $100,000, 4%. Iknow it's tough to do math and audio
podcast, but just bear with mehere a second because it's so important
that you understand this.$100,000, 4% for 20 years if the
annual fee is 0.25%. So aquarter of a point, that ends up
(07:21):
being that you'll have$208,000 at the end of that investment.
So again, $100,000, 4%annually over 20 years. The final
value, it comes down to thefee. So at a.25, you have a $208,000.
That's pretty good, right?0.25 is a good rate. Let's say we
double that to 0.5. That sameinvestment, a hundred thousand dollars,
(07:43):
4% annually, 20 years now, allof a sudden, because we've doubled
that fee. And listen, the feeis only a half a percentage now,
we've dropped to $198,000. Ifyou're doing the math, you just lost
$10,000 in a quarter pointchange. Well, listen to this one.
A lot of people don't realizethis. They said, oh, 1% fee, that's
no big deal. Well, think aboutthis. With a 1% fee again, a hundred
(08:05):
thousand dollars invested at4% over 20 years. Listen to this
one. When I saw this, I waslike, wow, this is amazing. 1% fee,
that hundred thousand dollarsgrows to $179,000. Now do the math
for you. We started 208 for aquarter point fee. Now we're down
to 179. That is $29,000. See,a 1% annual fee can reduce your returns
(08:32):
by 30% over 35 years versus ascenario with much lower fees. That's
why this is so important.That's why I felt so compelled to
do the show today. And that'swhy you really got to understand
what are the expense ratios?Because that annual fee eats at your
savings. $29,000 is a lot ofmoney. Are you paying a load or commission
(08:53):
at the front end? What are youpaying in advisory fees? You've got
to know what these things are.And listen, it's okay to say to your
broker, what are you chargingme? It's okay to go to the HR person
if you're covered by a 401kplan and say, what are the fees associated
with this? I'm going to tellyou right now, the HR person is probably
going to be like, I have noidea. Keep digging deeper. Don't
just accept, oh, I don't know,go find the answer. Because the long
(09:15):
term impact I showed you, thenumbers are huge. And there are other
options out there availablewhen. I always want to ground this
in scripture. So I found thisverse from the book of Proverbs,
chapter 27, verse 23. And itkind of hits close to home for me
because I raise Black Anguscows here on the farm. It makes sense
here in a second, but this iswhat it says, Proverbs 27, 23. Be
(09:38):
sure to know the condition ofyour flocks. Give careful attention
to your herds. Now you canunderstand why this was so imperative
to me. I got 10 black Anguscows out there in the pasture. I've
got to pay attention to them.I need to understand the details.
Well, investments work thesame way. You got to pay attention
to the details because thefees matter over time. Like I showed
(10:00):
you that math, just thatbetween 0.25 and 1%, $29,000 difference.
It's all in the details. Andit's all about those details always.
Well, how about we praytogether now? Lord, we come to you
today. We just thank you forthe wisdom that you give us, Lord,
and even the small things inour life to make a huge difference.
And Lord, we're just sograteful for the resource that you
(10:22):
entrust us with, Lord, and wereally want to be good stewards of
that, Lord. So help us tounderstand these things. Help us
to dig in deep and reallystudy what are the best investments
for us so we're not wastingthe resource that you give us, Lord.
Give us courage to make thosechanges and courage to ask the questions
that might seem a littleawkward at first because most of
us are not financial experts.Lord, help us to have the courage
(10:44):
to do that so that we canreally prepare for the long term
and really see the blessingthat you put into our lives. And
we just ask this in completeconfidence in the name of Jesus,
Amen. So my one action stepfor today, I always want to give
you an action step for today.Now's the time to comparison shop.
Look at the details, look atjust one investment that you owned,
(11:06):
find its expense ratio, findthe fees, write it down, how much
you're paying for, and then dosome comparison shopping, Go look
at other options, talk toother people, talk to other brokers
and compare it to some lowercost alternatives. Because in the
end you might just giveyourself a super boost of thousands
of dollars if you payattention to this. One of the things
(11:27):
I would love to do for you.I'd love to give you a copy of my
book. I just finished writingmy third book. It has been a true
passion project of mine. Itook 30 years of the advice I'd been
giving people, the individualmeetings that I had, and I summed
it all up in this book. It'scalled how to Become a Financially
Confident Christian. Kind ofgoes along with the name of the show,
but I want to give you a freecopy of that. You can download a
copy absolutely free, noquestions asked. Just go to this
(11:49):
website,FinanciallyConfidentChristian.com/becoming I'm
going to give you that againbecause truly I want you to download
this book and share with asmany people as you want. That's very
cool with me. Go tofinanciallyconfidentchristian.com/becoming and
download a copy of the booktoday. You are going to find it is
going to be an amazing tool tohelp you finally break that cycle
(12:11):
of financial shame and live infinancial confidence. So as I sum
up today, those fees may looksmall. You hear 1%, you hear a half
a percent, you hear a quarterpercent. But just like we talked
about compounding the otherday, that compounding against you
over time will cost you moneyin the long run. So you got to understand
that. Know the expense ratios.That is truly a key part of stewardship
(12:34):
and so many people you canamaze your friends. You can say,
I learned something on Ralphshow that I had no idea about. And
cutting cost is a simple wayto improve those returns so that
you can be faithful in thesmall details. Because over decades,
like I Talked about in 20years, make that money, maximize
it for yourself. They make ahuge difference. Now tomorrow on
the show, I'm going to gobeyond the traditional 401k. One
(12:56):
of the things I've realized inmy practice as I'm starting to see
people get older, hey, I'mgetting older myself. And that retirement
window is getting closer andcloser every year. I hate to say
that, but it's so true. Wehave to understand how to invest
beyond that 401k because it'snot going to be enough for retirement.
I'm not trying to alarm you,but tomorrow I'm going to unwind
that a little bit. I'm goingto give you some other ideas of how
(13:16):
to really grow yourinvestments beyond that 401. It's
going to be a great showtoday. I have confidence in you.
But more important than any ofthose things, God has confidence
in you. God wants you to besuccessful in your finances. So go
today and be that financiallyconfident Christian that I know and
God knows you can be. Stayfinancially savvy out there. God
bless you and you have a greatday today.
Here's something you might notknow. Did you know that your investments
actually have a price tag onthem? As I was preparing for the
show, I thought about, youknow, a lot of people don't know
this. And I found some amazingstatistics. Listen to some of these.
21% of investors believe theypay no fees on their investments.
You may be one of those peopleright now listening, Ralph. What
(00:21):
do you mean I'm paying for myinvestments? Yes, we're going to
get to that in a minute.Listen to this. Another 17% don't
know how much they pay infees. So 21% don't know that they're
paying fees. And 70% don'tknow how much their fees are. And
87% say they're aware of thefees. But the term expense ratio
(00:41):
has no idea what that means.30% say they completely understand
it. Similarly, this is aninteresting statistic as well. 83%
had heard of basis points, butonly 25% completely understood those
in one survey. Listen to this.73% of investors didn't know how
much they paid in investingrelated fees last year. And 64%,
(01:05):
here's the truly tragicstatistic of this. 64% didn't know
how to check what fees arebeing charged. Well, that's what
I talk about on today's showbecause you've got to, this is so
mission critical. As we workthrough this series of investments,
it is mission critical thatyou understand how to find these
fees, how to and really how tonegotiate them. I got a listener
(01:27):
question. So fellow wrotethis. He said, ralph, I know I'm
paying something for myinvestments, but I don't really understand
the fees. Are they really abig deal? Let me just tell you right
now, they are a huge deal.Investment fees might look small,
but think about this for asecond. Maybe 1% or 2% here and there,
(01:47):
but over time. So we're reallygoing to drill into on today's show.
Over time they can quietly eataway at your returns and cost you
thousands of dollars. Yes, youheard me right. Thousands of dollars.
That's what I'm going to coveron today's show. This is Financially
Confident Christian, yourdaily dose of gospel grounded insight
and faith driven tips to helpyou break the cycle of financial
(02:09):
shame with confidence. Thankyou for joining me on the show today.
My name is Ralph and I'veworked with hundreds of clients working
with their investmentportfolios. And the truth is, and
this is really a sad truth, Ihave found that these fees are draining
their growth over time. Andhere's the problem. A lot of people
didn't even realize that theywere paying them and how much they
(02:33):
were losing. If you've beenlistening to this series, you know,
I don't actually sellinvestments, but I've been working
with clients to help themshift into some lower cost options
that save them significantmoney without changing their goals.
Here's a really broad exampleof what I'm talking about, of just
what these fees cost you overtime. Because it's one thing to say,
okay, Ralph, I get it,somebody's got to make money in this.
(02:56):
But you got to understand theimpact of this. And I'm going to
start with a quote. This isfrom Jack Bogle. I mentioned him
the other day. Jack is thepresident of Vanguard. And Jack had
this brilliant quote. He said,in investing, you get what you don't
pay for. I thought that wasgreat. Think about that for a second.
In investing, you get what youdon't pay for. So let me tell you
(03:17):
about my client story. Clienthad an expensive mutual fund. Listen
to this. And you're going tounderstand what this is just in a
couple minutes. But thismutual fund had a 1.5% expense ratio.
So basically what that meansis that whatever the value that fund
was, 1.5% of that was goingfor an expense. Well, I worked with
him and I was able to find himan investment that switched to.05%.
(03:40):
And listen, that saved himthousands of dollars over the years
without sacrificingperformance. And I'm going to show
you some actual numbers herein a few minutes. But that's what
we need to talk about on theshow today. So here's the main parts
of what we really need todrill into. A lot of people don't
understand when I starttalking about expense ratios. What
is an expense ratio? Let'sstart there. An expense ratio is
(04:01):
basically the annual fee forrunning the fund. If somebody's going
to be a professional moneymanager, they, they are going to
charge a fee to run that fundbecause they have work to do. They
have to go and look at thedifferent investments, decide on
the trades. There's a lot ofwork that goes into this. But even
1%, if they're charging a 1%fee versus a 0.1% makes a huge difference
(04:23):
over the decades. So that'swhere it starts. The first thing
you've got to reallyunderstand is what are the expense
ratios? So if you're lookingfor an investment, one of the things
that I counsel clients onalmost every day in my practice is
what I what is the investmentexpense. What are the expense ratios?
Because it's easy to hear froma friend. Oh, Ralph, I've got this
investment idea. This thing issoaring, dude. You gotta buy into
(04:46):
this. It is so important thatyou understand so that you can compare
apples and apples and notapples and grapefruit. So it starts
there. Think about the examplewe talked about. Just that little
bit of a change can save youthousands of dollars. Another big
number that we have tounderstand is what's called a load
or commission. Now I'm notgonna get into into super complicated
(05:06):
things because with this 30day series, my goal was to really
give you a 30,000 foot view.But loads and commissions are what
they charge at the front end.So in other words, what I'm saying
here is some funds, when youbuy into them, they charge you a
fee to buy or sell. That I'mgoing to tell you right now, my personal
advice is watch out for theseand avoid those if possible. I don't
(05:29):
like those, so that's just mypersonal bias. But I don't like those.
So that's the second thing.Loads and commissions. Another thing
is advisor fees. And let mejust tell you right now, I've seen
these things make huge impactson people. It's one thing to pay
for advice. A lot of brokerscharge an advisor fee. You're paying
them for advice. You're payingfor the intellectual property. I
(05:51):
do another show called Gritand Growth Business and I was talking
the other day as I wasrecording a show about pricing. Everybody
is entitled to make money atwhat they do. But the key to today
is know what you're paying forand is it worth it? It's fine to
get professional advice.People pay me for professional advice.
But as part of understandingthe fees you're paying with your
investments, understand whatyou're paying for and ask yourself
(06:15):
that difficult question, am Igetting value for this? The other
thing you've really got tothink about is the long term impact.
Like I mentioned a few minutesago, a small 1% fee can mean losing
hundreds of thousands over alifetime of investing. I might get
to an example here in a secondbecause you're not going to believe
this number. The good news inall of this, that's why I did this
(06:36):
show today. There are low costfunds available, you just need to
look. So look at this. Let'stalk about this example. Let me pull
up my notes here. Here's theexample. If you have $100,000 invested,
so that's your investment.It's a lot of money. But let's just
say over time you'veaccumulated $100,000. You. And let's
say it's growing at 4%annually. And let's say you're going
to do that for 20 years. Thefinal value of that investment depends
(07:00):
heavily on the fees beingcharged. So think about this. So
like I said, $100,000, 4%. Iknow it's tough to do math and audio
podcast, but just bear with mehere a second because it's so important
that you understand this.$100,000, 4% for 20 years if the
annual fee is 0.25%. So aquarter of a point, that ends up
(07:21):
being that you'll have$208,000 at the end of that investment.
So again, $100,000, 4%annually over 20 years. The final
value, it comes down to thefee. So at a.25, you have a $208,000.
That's pretty good, right?0.25 is a good rate. Let's say we
double that to 0.5. That sameinvestment, a hundred thousand dollars,
(07:43):
4% annually, 20 years now, allof a sudden, because we've doubled
that fee. And listen, the feeis only a half a percentage now,
we've dropped to $198,000. Ifyou're doing the math, you just lost
$10,000 in a quarter pointchange. Well, listen to this one.
A lot of people don't realizethis. They said, oh, 1% fee, that's
no big deal. Well, think aboutthis. With a 1% fee again, a hundred
(08:05):
thousand dollars invested at4% over 20 years. Listen to this
one. When I saw this, I waslike, wow, this is amazing. 1% fee,
that hundred thousand dollarsgrows to $179,000. Now do the math
for you. We started 208 for aquarter point fee. Now we're down
to 179. That is $29,000. See,a 1% annual fee can reduce your returns
(08:32):
by 30% over 35 years versus ascenario with much lower fees. That's
why this is so important.That's why I felt so compelled to
do the show today. And that'swhy you really got to understand
what are the expense ratios?Because that annual fee eats at your
savings. $29,000 is a lot ofmoney. Are you paying a load or commission
(08:53):
at the front end? What are youpaying in advisory fees? You've got
to know what these things are.And listen, it's okay to say to your
broker, what are you chargingme? It's okay to go to the HR person
if you're covered by a 401kplan and say, what are the fees associated
with this? I'm going to tellyou right now, the HR person is probably
going to be like, I have noidea. Keep digging deeper. Don't
just accept, oh, I don't know,go find the answer. Because the long
(09:15):
term impact I showed you, thenumbers are huge. And there are other
options out there availablewhen. I always want to ground this
in scripture. So I found thisverse from the book of Proverbs,
chapter 27, verse 23. And itkind of hits close to home for me
because I raise Black Anguscows here on the farm. It makes sense
here in a second, but this iswhat it says, Proverbs 27, 23. Be
(09:38):
sure to know the condition ofyour flocks. Give careful attention
to your herds. Now you canunderstand why this was so imperative
to me. I got 10 black Anguscows out there in the pasture. I've
got to pay attention to them.I need to understand the details.
Well, investments work thesame way. You got to pay attention
to the details because thefees matter over time. Like I showed
(10:00):
you that math, just thatbetween 0.25 and 1%, $29,000 difference.
It's all in the details. Andit's all about those details always.
Well, how about we praytogether now? Lord, we come to you
today. We just thank you forthe wisdom that you give us, Lord,
and even the small things inour life to make a huge difference.
And Lord, we're just sograteful for the resource that you
(10:22):
entrust us with, Lord, and wereally want to be good stewards of
that, Lord. So help us tounderstand these things. Help us
to dig in deep and reallystudy what are the best investments
for us so we're not wastingthe resource that you give us, Lord.
Give us courage to make thosechanges and courage to ask the questions
that might seem a littleawkward at first because most of
us are not financial experts.Lord, help us to have the courage
(10:44):
to do that so that we canreally prepare for the long term
and really see the blessingthat you put into our lives. And
we just ask this in completeconfidence in the name of Jesus,
Amen. So my one action stepfor today, I always want to give
you an action step for today.Now's the time to comparison shop.
Look at the details, look atjust one investment that you owned,
(11:06):
find its expense ratio, findthe fees, write it down, how much
you're paying for, and then dosome comparison shopping, Go look
at other options, talk toother people, talk to other brokers
and compare it to some lowercost alternatives. Because in the
end you might just giveyourself a super boost of thousands
of dollars if you payattention to this. One of the things
(11:27):
I would love to do for you.I'd love to give you a copy of my
book. I just finished writingmy third book. It has been a true
passion project of mine. Itook 30 years of the advice I'd been
giving people, the individualmeetings that I had, and I summed
it all up in this book. It'scalled how to Become a Financially
Confident Christian. Kind ofgoes along with the name of the show,
but I want to give you a freecopy of that. You can download a
copy absolutely free, noquestions asked. Just go to this
(11:49):
website,FinanciallyConfidentChristian.com/becoming I'm
going to give you that againbecause truly I want you to download
this book and share with asmany people as you want. That's very
cool with me. Go tofinanciallyconfidentchristian.com/becoming and
download a copy of the booktoday. You are going to find it is
going to be an amazing tool tohelp you finally break that cycle
(12:11):
of financial shame and live infinancial confidence. So as I sum
up today, those fees may looksmall. You hear 1%, you hear a half
a percent, you hear a quarterpercent. But just like we talked
about compounding the otherday, that compounding against you
over time will cost you moneyin the long run. So you got to understand
that. Know the expense ratios.That is truly a key part of stewardship
(12:34):
and so many people you canamaze your friends. You can say,
I learned something on Ralphshow that I had no idea about. And
cutting cost is a simple wayto improve those returns so that
you can be faithful in thesmall details. Because over decades,
like I Talked about in 20years, make that money, maximize
it for yourself. They make ahuge difference. Now tomorrow on
the show, I'm going to gobeyond the traditional 401k. One
(12:56):
of the things I've realized inmy practice as I'm starting to see
people get older, hey, I'mgetting older myself. And that retirement
window is getting closer andcloser every year. I hate to say
that, but it's so true. Wehave to understand how to invest
beyond that 401k because it'snot going to be enough for retirement.
I'm not trying to alarm you,but tomorrow I'm going to unwind
that a little bit. I'm goingto give you some other ideas of how
(13:16):
to really grow yourinvestments beyond that 401. It's
going to be a great showtoday. I have confidence in you.
But more important than any ofthose things, God has confidence
in you. God wants you to besuccessful in your finances. So go
today and be that financiallyconfident Christian that I know and
God knows you can be. Stayfinancially savvy out there. God
bless you and you have a greatday today.
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