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The Stacking Benjamins Show

What Hidden Fees and Costs are Sneaking Money From Your Wallet? (SB1583)

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Personal Finance, Financial Planning, Education, Retirement, Investing, Cfp, Business, Money

4.42K Ratings

🗓️ 4 October 2024

⏱️ 63 minutes

🧾️ Download transcript

Summary

Here's a shock: our least favorite brokerage company is in the news again with some monster hidden fees. Robinhood is accused of charging customers a huge "spread" between the amount option buyers pay and the amount sellers receive. While this isn't a charge on the statement, it's a lot of money (nearly double) that other companies charge.

This topic got us thinking: what hidden charges, expenses, and costs exist in our life that we overlook or choose to ignore? How much are all of THESE costs adding up? We have the perfect triumvirate for this discussion. Jen Smith, one half of the Frugal Friends duo joins us (they talk consumption non-stop on their podcast). Roger Whitney chimes in (his Retirement Answer Man helps people control excess costs in retirement or when prepping). OG also joins in, with all of his experience helping clients reach their goals. It's a wide ranging, fun discussion, from the cost of pollution to hidden Doordash costs we didn't know about!

Of course, halfway through this episode, we take a break to challenge these contributors to a round of Doug's epic trivia.

FULL SHOW NOTES: https://www.stackingbenjamins.com/hidden-fees-and-costs

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.StackingBenjamins.com/201

Enjoy!

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Transcript

Click on a timestamp to play from that location

0:00.0

Hey, shake and bait, cow!

0:02.2

Woo!

0:02.7

Shaking bait!

0:03.3

Live!

0:08.2

From Joe's Mom's basement, it's the Stacking Benjamin Show.

0:18.9

I'm Joe's mom's neighbor,

0:24.6

Doug, and on today's show,

0:26.5

wait, what?

0:27.8

We're talking about that company.

0:30.2

Was Joe no?

0:32.1

Oh, he does.

0:33.0

Oh, he took his meds.

0:34.0

Okay, good.

0:34.7

On today's show, we're tackling the Voldemort of brokerage companies

0:38.9

Robin Hood. Oh, God, I'm sending out loud. What hidden fees and expenses are in your budget,

0:45.5

in your life, or in your brokerage account? Our panel will dive in, featuring the woman who's so

0:51.3

frugal, she made a podcast about it with a friend, Jen Smith.

0:55.7

Plus, the guy who says hidden fees are not the answer to your retirement.

1:00.4

It's the retirement answer man himself, Roger Whitney.

1:03.9

And the guy who pities to fool, who stands for hidden expenses, OG.

1:09.4

Plus, these three will also throw down halfway through today's show

1:13.3

during my epic trivia contest. And speaking of hidden, now a guy you gotta hide the donuts from. It's

...

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