Fees may sound minuscule at 1 percent or 2 percent, but they can gouge your returns by thousands of dollars.
While all mutual funds have expense ratios, which cover investment advisory, administrative services and other operating costs, some are much higher than others.
To complicate matters, some funds impose sales charges or loads. Load funds are only available through an investment adviser or broker who is compensated by sales commissions.
Picking no-load funds is one way to save money on fees. Instead of going through a broker, call a mutual fund company directly to purchase a fund.
While it might be worth paying a load if you don't have the time or inclination to make your own investment choices, just remember, it's hard, even for a skilled money manager, to make up for those extra fees.