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Those receipts from fishing may sound pretty decent until you look at Steve's expense column.
The annual expense column measures how much of your capital is consumed each year in fees and overhead.
The annual expense column measures how much of your assets are consumed each year in management fees and overhead.
We put a lot of emphasis on fund operating costs, and this year we include in the expense column the money spent by the portfolio manager on brokerage commissions.
There's a lot of strange fluff in the expense column, including $11.8 million paid to outside consultants, $8.0 in travel expenses, $4.2 million to top officials, and $25 million in undisclosed "other expenses". Total personnel expenses, outside of the top officials, were $86 million.
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This Supplemental Poverty Measure (SPM) is based on the NAS recommendations calling for changes in the statistical calculus - in both the income and expense columns.
It also calculates infrastructure as a liability, which starts adding zeros to the expenses column of my budget.
Write the total down immediately following the Expenses column.
Total your annual expenses at the bottom of the Expenses column.
Format the earnings or expenses columns.
The dollar signs in the total expense ratio column range from four dollar signs for expensive funds (e.g. Invesco Technology: 2.43%) to one dollar sign for the most cost-effective, such as CICM International's U.S. stock fund, which charges just 0.46%.
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