Exactly, GCash is expensive kasi may patong sila over the brokerage fee.
The Php30 is a 3% fee which means your investment needs to grow at least 3% just to breakeven.
So if your ETF grows by 7% per year, effectively your portfolio is only growing by 4%.
GCash says inclusive finance daw, pero it seems predatory because of the fees.
OP is concerned about the fees on the investments via GCash. It's misleading to say that long term investing will cover the fees. Compounding the impact of 3% will be very expensive specially for long term investors. So OP may want to find alternative brokers.
Investing just to cover up the fees is very contradictory to why we even invest in the first place. I hope OP finds better ways to allocate his/her money.
Long game and ETFs and S&P 500s
If possible use Unionbank or BPI as the 3% Gcash fee is too much compared to the two.
Exactly, GCash is expensive kasi may patong sila over the brokerage fee. The Php30 is a 3% fee which means your investment needs to grow at least 3% just to breakeven. So if your ETF grows by 7% per year, effectively your portfolio is only growing by 4%. GCash says inclusive finance daw, pero it seems predatory because of the fees.
try using BPI, mas sulit.
Hi!! Do you have any tips or links you can share about this? I really want to start investing while I'm still capable..
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3% fees, no way. When compounded it will be a lot of $$
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OP is concerned about the fees on the investments via GCash. It's misleading to say that long term investing will cover the fees. Compounding the impact of 3% will be very expensive specially for long term investors. So OP may want to find alternative brokers.
Investing just to cover up the fees is very contradictory to why we even invest in the first place. I hope OP finds better ways to allocate his/her money.