I have seen charts of what investments would be if they grew over a lifetime before retirement. Then they run the calculation again adding in the mutual fund fees. The difference in compounding is staggering.

For this very reason, I used to scoff at cash back credit cards with their meager 1%, 1.5%, and 2% cash back on spending. Assuming you pay off your cards, this cash back can add up over a lifetime as well. If you spend $1M on your credit cards over a lifetime with 1% cash back, that's $10K. That's not nothing.

The point is, 2% in fees is a significant drain on future prosperity.

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