I thought it would be a good idea to provide you with these math problems to illustrate my points. So take out your pencil, paper, and calculator and within a few minutes of time you should have a better understanding of the importance of knowing your fees.
Time is a very important factor.
Start investing as early as possible and teach this to your kids. Lets carry that out to 55 years now. By controlling your own costs you may dramatically increase your retirement balance especially if you have a very large sum of money in a retirement plan that charges high fees. Well that's about it. If you understand everything so far then pat yourself on the back and take a break.