"(most can't beat the market, and it is impossible to know which ones will)"
And for sure. These scams will never.
Let see. You will pay 1.5% quarterly as a fee on your first 18 monthly payments until the end of your plan.
So that means you will pay 6% as fees per year plus 1.2% of all your investment per year.
Of course, it's not only that. The fund you have chosen or your "financial adviser" has fees. On average 1.8% per year. And last but not least, more US$ 6 monthly.
Let's assume that you or your "financial adviser" have chosen 3 funds
You will pay roughly 9% in fees even if the market is plunging.
The S&P 500 return is approximately 10% year since its inception back in 1928. Adjusted for inflation the real return is more like 7%.
