Even small fees can have a big impact. If you invest $100,000 over 20 years and pay a 1% annual fee, your portfolio value will be about $30,000 less than if you had paid a 0.25% annual fee, according to the Securities and Exchange Commission's Office of Investor Education and Advocacy. Check your account statement to see what fees you're paying. If they seem high, the SEC recommends asking whether the costs can be reduced. You also should shop around for accounts and investment firms with low fees, which can help you keep more of the money you worked hard to save.
