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Alain Cheryl
Works at Dance Conmigo (Salsa, Tango, Ballroom, WCS)
Lives in Plateau Montréal
873 followers|302,842 views
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Alain Cheryl

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According to John C. Bogle, founder of Vanguard Mutual Funds, Financial institution,  and financial advisers are stealing 80% for your money. 

http://www.pbs.org/wgbh/pages/frontline/retirement/interviews/bogle.html

Let me give you a little longer-term example. The example I use in my book is an individual who is 20 years old today starting to accumulate for retirement. That person has about 45 years to go before retirement -- 20 to 65 -- and then, if you believe the actuarial tables, another 20 years to go before death mercifully brings his or her life to a close. So that's 65 years of investing. If you invest $1,000 at the beginning of that time and earn 8 percent, that $1,000 will grow in that 65-year period to around $140,000.

Now, the financial system -- the mutual fund system in this case -- will take about two and a half percentage points out of that return, so you will have a gross return of 8 percent, a net return of 5.5 percent, and your $1,000 will grow to approximately $30,000. One hundred ten thousand dollars goes to the financial system and $30,000 to you, the investor. Think about that. That means the financial system put up zero percent of the capital and took zero percent of the risk and got almost 80 percent of the return, and you, the investor in this long time period, an investment lifetime, put up 100 percent of the capital, took 100 percent of the risk, and got only a little bit over 20 percent of the return. That is a financial system that is failing investors because of those costs of financial advice and brokerage, some hidden, some out in plain sight, that investors face today. So the system has to be fixed.

Editor's Note: For details on this example, see this table.
I've got to unscramble what you just said. You said that in the case of the $1,000 invested for 65 years, the financial system is taking 80 percent of the money. But most of us aren't doing that. In the first place, at 20 we're out spending it; we're not putting it away. But set that aside. We're really talking about people who are probably saving from 35 or 40 or 45 at best for retirement at 55, 60 or 65. and they are plunking the money away into 401(k)s. I'm just asking you, in that system, roughly what chunk of it are people getting back themselves out of their gains, and what chunk of that is going to go to the financial system for managing their money?

Well, in the long run, it's 80 percent to the financial system, 20 percent to you. In a given year, it's about 80 percent to you and 20 percent to the financial system, so if you look at 10 years or 15 years, you're probably talking about 60 percent to you and 40 percent to the financial system maybe over 20 years, something like that. But the longer the period, the greater the impact of that tyranny of compounding costs is.

How do you get costs out of the system? Aren't you stuck? You are in a 401(k), and you've got only 11 options or 28 options from your company, and they are all through Vanguard, Fidelity, T. Rowe Price, somebody else. Can you get the costs out?

Easy. You own [a market index fund]: the entire U.S. stock market or maybe 25 percent international, the entire U.S. bond market, or just simply go to government intermediate-term bonds and don't pay anybody for those services. The costs are going to be about 10 basis points or 15 basis points instead of 2.5 percent a year, that 10 or 15 basis points meaning a tenth of 1 percent or a little bit more. It is all you need to pay to own the market.
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Alain Cheryl

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Brunch at Beauty's Luncheon
This restaurant is one of the landmark's of the city. It has been in business since 1942 and it has been operated by three generations of the same family. The food is delicious and the price is low. Be ready to stand in line a few minutes before going in. 9...
This restaurant is one of the landmark's of the city. It has been in business since 1942 and it has been operated by three generations of the same family. The food is delicious and the price is low. Be ready to stand in line a few minutes before going in. 93 Mont-Royal West Montreal, QC H2T 2S5 ...
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Alain Cheryl

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In their circles
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Alain Cheryl

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The step of the week. 

If you want to see more go to our salsa page 
http://www.danceconmigo.com/category/salsa/
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Alain Guillot was tagged in Alain Cheryl's photo.

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Whether conscious or unconscious Women get paid less than men. Here is why

http://www.alainguillot.com/women-earn-less-than-men/
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People
In their circles
250 people
Have them in circles
873 people
Ricky Valenzuela's profile photo
Rodolfo Suarez (SalsayRumbaOnline)'s profile photo
Argentine Tango Detroit's profile photo
santa rosa armas's profile photo
Isaias Moraes's profile photo
Paola Bordon's profile photo
Lorena de Miranda Serra's profile photo
Salsa In Hawaii's profile photo
Con Sabor's profile photo
Work
Occupation
Dance Salsa, Tango, West Coast Swing, Ballroom
Employment
  • Dance Conmigo (Salsa, Tango, Ballroom, WCS)
    Dance Salsa, Tango, West Coast Swing, Ballroom, present
Basic Information
Gender
Decline to State
Story
Tagline
Dance teachers, Salsa, Tango, West Coast Swing, Waltz, Rumba, Cha-cha, Samba, Swing, Foxtrot
Introduction
Dance Conmigo started in 2007, after its promoters Cheryl and Alain met. With the support of the community, Dance Conmigo has been able to grow, providing happiness to hundreds of dancers.
Bragging rights
Dance Conmigo has taught hundreds of students how to dance. Dance Conmigo also holds a monthly dance party which always starts with a beginner class of a different dance.
Places
Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
Currently
Plateau Montréal
This is one of the best places to host an event or to teach (or learn) dance classes. I have been going to this place since 2012. They are friendly, helpful and the place is always clean & organized.
Public - a year ago
reviewed a year ago
Great service. As an immigrant this place have given me the best possible service.
Public - a year ago
reviewed a year ago
When I came as an immigrant to Montreal (1998) TD bank was the only bank which gave me a checking account. Every one else asked me for reference. I din't know any one so I had no reference. Since always, TD has given me great service. They have trusted me with two mortgages and I have trusted TD with my investments. Thank you TD for your great service.
Public - a year ago
reviewed a year ago
OMG, You feel like in another universe and another time period when you walk around this place. Loved it.
Appeal: ExcellentFacilities: ExcellentService: Excellent
Public - 2 years ago
reviewed 2 years ago
16 reviews
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The food is excellent and the service extraordinary. Perhaps a bit out of my budget, but if you can afford it. this is a great place. One mayor drawback it that it is very noisy. You can feel the echo of one hundred conversations at the same time. You have to scream across the table to be heard by your company and you have to stretch your neck forward to be able to hear the person sitting across the table from you. If you go for the food and you can afford it, this is a great place. If you go for a conversation, you will come out with a soar throat and a sense of frustration.
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Public - a year ago
reviewed a year ago
Good gym, good equipment. The only drawback is that there no a single place in the whole gym where you can lift some weights without having a TV in front of your face. I spoke to management and they told me that people demand having all those TVs on. I feel sorry for all those people who can not get away from a TV for one hour. I tried to do some stretching and it was difficult to concentrate because there was some game in all the TVs. To do my curling repetitions while commercials are flashing in my face sucks.
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Public - 2 years ago
reviewed 2 years ago