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411 | The Simple Path to Wealth | JL Collins
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The Power of Compounding
JL: The power of compounding works for you in circumstances where you're investing, but also works against you when you're looking at something like fees that also compound against you. He says the 4% rule suggests that you can pull 4% of your portfolio to live on and expect it to last for the long term. Well, if you're paying 1% fees, that's 25% of your income that is going to pay for your fees, he says. JL: That's another point of reference is to how important seemingly low sounding fees can be.
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