What 1% Really Costs

1% may not sound like much but over time, it's a huge cost which lowers your investment returns.  It's ok to pay for advice but you must know what that advice is really costing you.

Study this chart from the SEC.gov which shows what the difference is between paying 1.5% and .5%.

It is very likely your financial guy is charging you 1% to watch your money and then of course there are the fixed costs that everyone pays (mutual funds, etc) which is why the chart shows the difference between 1.5% and .5%.

On an investment of just $10,000, the difference is $22,634 in your pocket!

It's alot money, a huge cost which lowers returns your investment returns in a big way so you better be sure you are getting something in return, some great advice, some hand-handing during the tough times but just don't expect higher returns.