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2-3% per year? Nice try. While estimates of averages vary, most funds do not charge 2-3% per year.

Fair enough. I should have said most actively managed funds (you know, the kind the brokers like to sell) charge 2-3% per year. Some are higher. Heck, the Motley Fool fund has a gross fee of 2.30%, although they're subsidizing part of that fee until the end of February to entice people in.

It's even a huge exaggeration to say that most actively managed funds charge 2-3% per year.

(I note your links talk about "expense ratios", but in my experience the fund managers often lard other costs on top of that: marketing fees, commission and so on. And even so-called "no-load" funds start you out with a large back-end load penalty if you withdraw early, so I can't really see how that can reasonably be called "no expense.")

Yes, some funds carry loads, and some "no-load" funds have a back-end load penalty, but it's unusual. However, it is extremely common for annuities to carry surrender charges.

In any case, this has nothing to do with your claim.
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