“The miracle of compounding returns is overwhelmed by the tyranny of compounding costs.”

“Active management is a zero-sum game before costs, and a negative-sum game after costs.”

“If returns are going to be 7 or 8 percent and you're paying 1 percent for fees, that makes an enormous difference.”

“Large advisory fees and substantial portfolio turnover tend to reduce investment yields.”

“When you look at the results on an after-fee, after-tax basis, there's almost no chance that you end up beating the index fund.”

“Beating the market averages, after paying substantial costs and fees, is an against-the-odds game.”

“A person saving for retirement who chooses low-cost investments could have a standard of living 20% higher than a high-cost investor.”

“You can't afford to be paying 1% or more when there are alternatives that cost you hardly anything.”

“Where returns are concerned, time is your friend. But where costs are concerned, time is your enemy.”

“A 1% management fee cut returns in half over a 77-year period.”

“On a $100,000 portfolio earning 4% annually, the difference between a 0.25% and 1.00% fee could cost you nearly $30,000 over 20 years.”

“Excessive management fees take their toll, and manager profits dominate fiduciary responsibility.”

“I can't figure out why anyone invests in active management. My advice would be to avoid high fees.”

“The investor put up 100% of the capital and assumed 100% of the risk, yet earned only 31% of the market return. Fees confiscated 70%.”

“They're used to charging big fees for stuff that isn't doing their clients any good.”

“Money makes money. And the money that money makes, makes money.”

“The massive fees levied by 'helpers' would leave clients worse off than if they simply invested in an unmanaged low-cost index fund.”

“A penny saved is a penny earned.”

“After costs, the return on the average actively managed dollar will be less than the return on the average passively managed dollar.”

“Fund performance comes and goes. Costs go on forever.”

“Paying less in fees means keeping more of your money growing for your future.”