Financial Analyst Journal, Volume 69, Issue2, 2013

投资费用的测算

作者：William F. Sharpe (Stanford University)

摘要：最近的监管变化使人们重新关注投资费用对投资者财务状况的影响。作者提供了一种计算那些投资于具有不同费用比例基金的投资者的相对最终财富水平的方法。在合理的条件下，选择低成本投资来为退休储蓄的投资者在退休后的生活水平比高成本投资的投资者高20％以上。

The Arithmetic of Investment Expenses

William F. Sharpe (Stanford University)

ABSTRACT

Recent regulatory changes have brought a renewed focus on the impact of investment expenses on investors’ financial well-being. The author offers methods for calculating relative terminal wealth levels for those investing in funds with different expense ratios. Under plausible conditions, a person saving for retirement who chooses low-cost investments could have a standard of living throughout retirement more than 20% higher than that of a comparable investor in high-cost investments.

原文链接：

https://www.cfapubs.org/doi/abs/10.2469/faj.v69.n2.2

翻译：秦秀婷