投资的隐藏费用与风险

投资者们很关心风险和回报,但是有时候他们会忘记投资并不是免费的。

投资产品和服务伴随着成本和费用。虽然一开始它们看起来微不足道,但是从长远看来,这会是一大笔开销。

几年前,美国证券交易委员会(SEC)在一份投资咨询报告中给出了一个具有说服力的图表来说明这一点。

费用的重要影响

监管机构研究了初始投资额为10万美元的假设投资组合在20年中的收益情况,假设每个投资组合的年回报率为4%,但支付的持续账户维护费率从0.25%到0.50%,和1%不等。

来看一下这些投资组合的收益表现差异。

能明显看出,费用会对投资者的收益产生重要影响。

以下是一些关于费用以及如何最小化它们的建议:

在每次买卖证券时,投资者们需要支付一次性交易费用,还有就是类似账户维护费之类的年费。

这两者都很简单明了,但是其他费用就有点难理解了。

软美元

请注意,在交易“软美元”时,一些公司会要求您支付他们的全部运营成本。

例如,一些基金管理公司向投资者收取额外的营销和分销费用。

其他基金在业绩表现优异的年份会收取费用。

负责

与此同时,CNBC的罗恩•卡森评论称,大部分投资者对自己支付的隐形费用一无所知,而金融服务业的不透明让问题更加复杂。

“真正让我不安的是,金融服务业在涉及隐性收费的话题时,表现得不尽人意,令投资者们失望。投资者的问题没有得到回答,或者只是得到部分、不完整的回答。” 

盲人摸象

即使没有隐藏的费用,许多投资者甚至不确定他们同意预付的费用有多少。将资产的1.5%到3%作为费用支付出去的投资者是非常典型的。

我认为,投资者们需要提高警惕,在花时间计算其风险和潜在回报的同时,也应该花同样多的时间研究投资的费用结构,

这需要预先投入一些时间,但是这些时间会帮助您深入了解细节,并且坚定了你向经纪人或财务顾问获得发出要求获得直接答案的信心。

SEC建议投资者们问以下几个问题:

  • 购买、维持和出售该投资产品的总费用是多少?有没有办法可以减少或避开我需要支付的一些费用,比如能否直接购买投资产品?当这些费用都缴清后,这笔投资需要增值多少才能让我实现投资收支平衡?
  • 当我购买基金的份额时,基金会向我收取多少费用?哪些费用是会持续长期收取的?当我出售持有的基金份额时,基金会收我多少费用?
  • 我都有哪些付款方式?我需要按交易大小付款吗?还是无论有多少笔交易,我只需要支付一笔固定的费用?
  • 我要支付多少佣金或费用?

记住,很多投资都有潜在的风险。

查看本文开头讨论的SEC投资者报告的详情,帮助您获得更多关于费用和成本,以及多种投资种类的信息。

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Disclosure: Chinese Translation

这篇文章已被翻译成中文。如英文版本和中文版本之间有任何不一致,以英文版本为准。该文章中的分析仅为提供信息,不是也不应该被视为推销或招揽购买任何证券。文章中讨论的一般市场活动、行业或领域趋势、或其它基于广泛的经济或政治条件的内容,不应被解释为研究结果或投资建议。讨论中提及包括的特定证券、商品、货币、或其它产品均不构成IB推荐购买,出售或持有此类投资的建议。本材料不是也不意图针对个别客户的特定财务条件、投资目标或要求。在根据本材料采取行动之前,您应该考虑是否适合您的具体情况,并在必要时寻求专业建议。

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