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I did a post a while back about the impact of a 1% management fee.

http://boards.fool.com/Message.asp?mid=23850583

Be sure to read the other posts in that thread as well. In addition to how the 1% add up over the years while you are saving, once you retire you can only take out somewhere around 4% per year as a safe withdrawal rate(SWR) because if inflation and market fluctuations.

Once you retire and start withdrawing money, if you pay a 1% management fee, which means that they are charging you 25% of your income or more with hidden fees. If you invest for 25 years like simple model above, you will have already lost 22% and when these are combined, you will only have 60%(.78*.75) of the retirement income that you could have had without the fee. The sad thing is that the people selling the plans like this know how badly they are gouging their customers and the real situation is often worse because of theadditional and hidden fees.

You might want to read;

"The Bogleheads' Guide to Investing". It has lots of good entry-level stuff and is fairly easy reading.
http://www.amazon.com/gp/product/0471730335/ref=sr_11_1/103-9784238-7695860?ie=UTF8

William Bernstein's "The Four Pillars of Investing" is also a good book but is somewhat more advanced.

After reading more, if you still want to see a fee only financial planner you will be able to ask much better questions and make better use of their time.


Greg
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