One part of successful investing is to keep the costs of investing low.

Indeed, it’s pretty much universally agreed these days that fees should never be overlooked when assessing the pros and cons of a particular investment strategy (or a superannuation fund) - after all, fees (and taxes) can significantly erode the value of your investment or retirement nest egg over time. Of course, this logic applies to all assets (ie property, shares, superannuation etc).

Maybe its just me, but all too often, perhaps in the drive to achieve better investment results, fee considerations seem to fall off the agenda somewhere along the line, ultimately discarded as a peripheral issue in the excitement of embarking on something ‘new’. I think we’ve all been there before.

When it comes to investing, you can't guarantee outperformance and you can't control the market, but one thing you can control are your costs.

So as we quickly approach the beginning of a new financial year, and as Covid-19 continues to stalk the global economy and markets, why not use this opportunity to take a fresh look and revisit where you’ve been and where you’re going. In addition to reducing some of your costs (and boosting performance) in what is likely to be a lower return world, you might just open-up a few new pathways going forward.

If you’re unsure, make an appointment to see your Financial Adviser early in the new year.

Rick Maggi, CFP