PSA: My dad's old broker story from 1998 made me check my own fees

He was telling me about paying a 3% commission on a stock trade back when he used a full-service broker in Chicago. I looked at my own online bank's investment platform and my last trade cost $6.95. It's wild how much the game has changed for regular people just trying to invest a little. Anyone else have parents with stories that make you appreciate the current options?

2 comments

2 Comments

nora_chen11d ago

Oh man, my mom still talks about her broker's "annual fee" like it was a normal utility bill. I just checked and it was basically 2% of her account, every year, no matter what. I mean, my biggest cost now is probably the emotional damage from my own bad choices.

reeseb7311d ago

Two percent a year sounds like paying rent on your own money.