Investment fees can significantly impact your overall returns over time. For example, if you invest $10,000 in a fund with a 1% annual fee, in 20 years, assuming a 7% annual return, your investment would grow to about $38,697. However, with a 2% fee, it would only grow to around $36,785. That's a difference of almost $2,000 purely from fees. It’s crucial to pay attention to both one-time fees (like purchase fees) and ongoing management fees (like expense ratios).

Investment fees are charges paid by investors for the management and administration of investment accounts and funds. These fees can include management fees, advisory fees, trading fees, and expense ratios. Higher fees can erode your investment returns over time, making it important to understand and compare fees when choosing where to invest your money.