Good post Bookm!
I pursue to keep my overall e/r below 0.5%. This does not include commissions (making it 0.53% or so).
ETFs can help one get Admiral level e/r but naturally one needs to evaluate the commissions then - in FIRE one does not need to do a monthly trade - especially not if one can live of the interest+div. which comes to you at no charge.
The thought of giving away $15-30k/year (of 1M) to managers in Boss suits and sportscars, while I would live on the same amount (while taking ALL the risk) does not befall me well  .
For a few asset classes the managed funds might make sense to me - but I still want it at resonable price.
Cheers!
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