Financial fees for "assets under management"

[bucolic_frolic]

3. Yeah 1% is $10 for a $1,000 IRA when you're 22

When you clock in at 72 with $278,000 they're taking you for $2,780 a year. The 50 years' cumulative fee had chopped your money by about 18%!

I was appalled to find major brokers charging 3% on the buy side. And financial planners $2,000 up front to set ETFs in motion.

Especially when there are sites online that ask you a pile of questions and have a broadly diversified portfolio for $0 to $50. Yes, $0. Zero. Managing money is a tithe game.

And these high-priced advisors choose from a handful of software companies that make the recommendations. They pay the SW a set fee per client, then tweak it 2% here or there and you have top-notch advice! All because the general public is not supposed to know anything about what to invest in, and all the personnel have SEC securities licenses to make similar calls.

As you can tell it makes no sense to me.