I think of it this way.
If I have 1 million. I can expect it to generate 40K/year (swr). .9% is 9000 which means I'm giving my advisor roughly 1/4 of my income. That seems like too much. If I buy low cost funds/etfs I can get that to around 1500. Now if I believed an advisor could consistently overcome that gap I'd keep him... but then I'd assume he wouldn't need clients very long given his personal net worth would skyrocket
So I figure how much of my income I'm willing to spend on managing it (.3% or so including accountants, lawyers, insurance, fees, etc) and then try to stay within that.
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