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moneysense.ca, 15/10/06
Blog Ground Rules
The main purpose of my blog is saving you some money, so it really hurts when something like this happens (in response to this post):
Can anybody explain to me why I got charged 130$ by E*Trade for removing part of the money put in AS100 a few days after the initial transaction?
Maybe I’ve missed something here, but this is certainly one of the worst tips I got so far.
Just so we are clear, here are the ground rules:
- I will try my best to provide accurate information in the blog posts. Please be aware that I do make mistakes and I am grateful to readers who point it out.
- I am not a financial advisor and I do not work in the financial services industry. I am an average person just like you and it is impossible for me to check information with all the different companies out there. So, please be sure to do your own research. If you find an error in any post, please leave a comment.
- My readers are extremely smart people, so be sure to check out the comments for any updated information. In the post referred to in the beginning, many commenters have pointed out that there are redemption fees and penalties charged by various discount brokers.
- I will not recommend any product or service that I haven’t tried out myself. I will also not recommend anything that I haven’t paid out of my own pocket.
- I will raffle any product sent to me (however small) to my readers. I am hoping that this principle would not obligate me to write a good review just because I received a free sample.
- I will not accept payment for any link or affiliate product unless it is explicitly labelled as “Sponsored” or “Advertisement”.
moneysense.ca, 15/10/06
As the writer of the “-130$ post”, I do feel bad about how it came out now that I’m reading it again. As I’ve said there, it’s a good lesson learned and I will write to Etrade to protest the fact they don’t mention the redemption fees when you buy. When you need the money, seeing the fees when you sell is too late.
It’s nobody’s fault other than my own. That said, I really think these new ground rules will make this blog even better than it is today. I will keep coming back and recommending it to fellow investors.
thanks and keep on the good work
Guillaume
I think you should write to E*Trade and protest this stupid penalty. Why exactly does a discount broker charge a fee for early redemption? It is bad enough that discount brokers collect trailer fees from mutual funds without providing any “advice”, so why should investors be potentially penalized twice for redeeming funds early? It is especially silly and greedy of them to do so for money market funds.
I am wondering how you get anything for free from anyone if it is your choice to remain as an anonymous blogger. How does anyone actually give you anything if you don’t reveal yourself?
I am not totally anonymous and I do get requests to review books or be an affiliate by email. If I accept, I send my name and address. It is a good question if I should still be anonymous considering that this is not a tell-all blog like some PF blogs are.