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Think 3% is small potatoes? It can eat your life savings

Brian Livingston
Think 3% is small potatoes? It can eat your life savings

Unfortunately for investors, a 3% haircut in advisory fees and fund expenses—a level that’s all too common—makes a huge difference in how fast your wealth grows. If you add up all of the fees in your portfolio, it may reveal a “silent killer” that can devastate your account balances over your working career or a lengthy retirement. For example, let’s say your financial adviser or 401(k) plan provider charges an annual fee of 1% of assets under management.