The Wall Street Journal recently published a great article called “Five Big Retirement Mistakes”.  The top mistake listed was not paying for financial guidance.

“People who have no problem paying for the services of an accountant or lawyer often balk at the prospect of cutting a check to pay for investment advice. Instead, they rely on “free” help from retirement advisers they meet at banks, brokerage firms and retirement seminars.

But there is no free lunch. You might not be paying an hourly fee for financial advice, but you still are compensating the adviser. The fees are built into the investment, so people don’t realize how much they are paying and how these fees drag down investment returns.”

So as the new year begins, please make sure your financial ducks are in a row and you are not paying hidden costs for “free” financial advice!