via Wall Street Journal – Morgan Housel

Ask me how much my cellphone costs each month, and I can tell you down to the penny. Ask me how much I pay in investment management fees each month, and I have no idea.
There is a reason for this: I see my phone bill on my credit-card statement each month. Ditto for my power bill—I write a check to the utility company each month. I am aware of every cent because I actually sit down and pay a bill.
Investment fees—for mutual funds, for 401(k) administration, for a financial adviser—are different.
Most are deducted from your assets automatically. Mutual-fund and exchange-traded-fund fees typically are deducted from the fund’s assets monthly. Many financial advisers deduct fees from client accounts each quarter. Commissioned brokers generally are paid upon each transaction..
To read the full WSJ article CLICK HERE