We all constantly hear about the need to save: Save for a rainy day, save for your children’s education, save for your retirement and so forth. However, in today’s world of consumerism and instant gratification, it is easy to get tied up in the here and now and to believe that the future will work itself out. As soon as that time machine is up and running, Future You will be coming to give Present You a piece of their mind! For those of us that do save regularly, it can be challenging to know how much to save, or where to invest our savings. Too often our primary focus is on the fees we pay for investment services, when we should really be focusing on the value we get for the fees we pay. For example, if investment manager A consistently delivers one per cent more in returns each year than manager B (net of fees and expenses), then what does it matter how much more expensive manager A is? You are getting more in returns and they are worth every penny. The power of one per cent stems from the ‘magic’ of compound interest. Compound interest, in simple…