Here’s an excellent article from CBS Marketwatch by Paul O’Farrell, who points out the impact of fees on your retirement income. He observes that the combination of (even average) fund fees and adviser fees can reduce your potential income from your retirement assets by more than half. He suggests doing your own management and using low-cost index funds.

His basic point is that Wall Street’s advice isn’t worth what you pay for it. Good thing that few people notice this, or else the lavish lifestyles might be in jeopardy. Nobbling a few examples like Mr. Potato Head and Grasso is all very well, but it doesn’t get to the root of the problem which is the lack of real competition and transparency.

Earn 57% more in retirement