Learn why commissions, exchange charges, taxes and spreads affect real outcomes.
Headline price is incomplete
A change between two market prices does not represent a person’s actual result. Transaction costs and execution prices matter.
Costs vary
Charges can differ by intermediary, product, order and account. Current terms should be checked directly with the relevant provider.
Improve educational examples
When reviewing a hypothetical example, list every assumed cost and label anything that has been omitted.
Journal prompt
Write one fact you observed, one assumption you made and one question that remains unanswered.
Risk reminder
Markets are uncertain and investing can result in loss. Historical information does not guarantee a future outcome.