My Financial Toolbox Quotes

“1% or 2% sounds small until you multiply it by the size of your investments. 1% on $500,000 is $5,000 per year, every year. 1% on $1 million is $10,000 per year, every year. As your investments grow with the market, the fees automatically grow. Especially for retirees with large accumulated assets, paying a percentage of investments is very expensive.”
― Harry Sit, My Financial Toolbox: The Nuts and Bolts of Managing Your Money

“Although both 0.1% and 1% look like small numbers, paying 1% versus 0.1% makes a big difference over one’s lifetime. If you invest $10,000 a year for 40 years, and you pay 1% a year versus 0.1% a year, all else being equal, you’ll have 20% less at the end of 40 years.”
― Harry Sit, My Financial Toolbox: The Nuts and Bolts of Managing Your Money