No. of Recommendations: 0
With a "safe" withdrawal rate of between 3% to 5% of assets per year, giving Summit between a third and one-fifth of that would severely affect your lifestyle in retirement. Summit would be taking much more of your money than the IRS.

I've met many smart people who have no idea how to manage investments. A professional money manager should be able to pay for himself by earning at least more than the individual would on their own by at least their fee amount. Would you give your money to Warren Buffet to manage for you and pay him 1% - or do you think you can come within 1% of WB? (extreme example used to make a point) The relationship of the fee to what you withdraw isn't terribly relevant to me since it ignores how much your assets truly earn.
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