--- title: "Meaning & Key Takeaway of: Net return is simply the gross return of…" description: "\"Net return is simply the gross return of your investment portfolio less the costs you incur. Keep your investment expenses low, for the tyranny of comp..." image: "https://sms4smile.com/quotes/i/0ea/john-c-bogle-2199_costs_net-return-is-simply-the-gross-return-of_1760704.jpg" --- # Net return is simply the gross return of your investment… ![“Net return is simply the gross return of your investment portfolio less the costs you incur. Keep your investment expenses low, for the tyranny of compounding costs can devastate the miracle of compounding returns.” quote by John C. Bogle](https://sms4smile.com/quotes/i/0ea/john-c-bogle-2199_costs_net-return-is-simply-the-gross-return-of_1760704.jpg) [Download](https://sms4smile.com/quotes/i/0ea/john-c-bogle-2199_costs_net-return-is-simply-the-gross-return-of_1760704.jpg) [Open image](https://sms4smile.com/quotes/i/0ea/john-c-bogle-2199_costs_net-return-is-simply-the-gross-return-of_1760704.jpg) > “Net return is simply the gross return of your investment portfolio less the costs you incur. Keep your investment expenses low, for the tyranny of compounding costs can devastate the miracle of compounding returns.” [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Investing returns are reduced by fees; minimizing expenses preserves compounding power. **In simple terms:** Fees shrink returns; keep costs low. Key Takeaway Cut expenses to protect compounding. Themes finance investing cost management Mood cautious analytical Type educational practical When to use this quote - personal finance - retirement planning - investment analysis - advisor meetings Key Concepts compounding expense ratio portfolio efficiency Questions to Reflect On - How often do you review expense ratios? - What strategies can you use to lower fees? A Different Perspective Even low fees can erode returns over long horizons if not monitored. ★ ★ ★ ★ ★ No ratings yet [Costs](https://sms4smile.com/quotes/about/costs/) [Customer](https://sms4smile.com/quotes/about/customer/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investment](https://sms4smile.com/quotes/about/investment/) [Miracle](https://sms4smile.com/quotes/about/miracle/) [Tyranny](https://sms4smile.com/quotes/about/tyranny/) ## Related quotes > [Enjoy the magic of compounding returns. Even modest investments made in one's early 20s are likely to grow to staggering amounts over the course…](https://sms4smile.com/quotes/john-c-bogle/enjoy-the-magic-of-compounding-returns-even-modest-investments-made/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [The miracle of compounding returns is overwhelmed by the tyranny of compounding costs.](https://sms4smile.com/quotes/john-c-bogle/the-miracle-of-compounding-returns-is-overwhelmed-by-the-tyranny-of/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [The miracle of compounding returns has been overwhelmed by the tyranny of compounding costs.](https://sms4smile.com/quotes/john-c-bogle/the-miracle-of-compounding-returns-has-been-overwhelmed-by-the/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [I'm not scared of many sectors, so if you look at my investment portfolio, it is pretty wide. I've invested in anything from market…](https://sms4smile.com/quotes/deborah-meaden/i-m-not-scared-of-many-sectors-so-if-you-look-at-my-investment/) [Deborah Meaden](https://sms4smile.com/quotes/author/deborah-meaden/) > [The most important asset you need to protect in order to manage the demands of a job or an investment portfolio is your production…](https://sms4smile.com/quotes/jim-loehr/the-most-important-asset-you-need-to-protect-in-order-to-manage-the/) [Jim Loehr](https://sms4smile.com/quotes/author/jim-loehr/) > [“There are countless benefits of including a real estate property in your investment portfolio.”](https://sms4smile.com/quotes/dwayne-brown/there-are-countless-benefits-of-including-a-real-estate-property-in/) [Dwayne Brown](https://sms4smile.com/quotes/author/dwayne-brown/) > [“The magic of a small - but regular - investment in time is its compounding returns.”](https://sms4smile.com/quotes/roger-spitz/the-magic-of-a-small-but-regular-investment-in-time-is-its/) [Roger Spitz](https://sms4smile.com/quotes/author/roger-spitz/) > [We need to think about women's basketball like the stock market: it grows over time, and you have to put something in to see…](https://sms4smile.com/quotes/dawn-staley/we-need-to-think-about-women-s-basketball-like-the-stock-market-it/) [Dawn Staley](https://sms4smile.com/quotes/author/dawn-staley/) > [Efficiency innovations provide return on investment in 12-18 months. Empowering innovations take 5-10 years to yield a return. We have ample capital - oceans…](https://sms4smile.com/quotes/clayton-christensen/efficiency-innovations-provide-return-on-investment-in-12-18-months/) [Clayton Christensen](https://sms4smile.com/quotes/author/clayton-christensen/) > [Most people that derail as leaders in the corporate world, it's not because they couldn't do the math and calculate return on investment properly.…](https://sms4smile.com/quotes/douglas-conant/most-people-that-derail-as-leaders-in-the-corporate-world-it-s-not/) [Douglas Conant](https://sms4smile.com/quotes/author/douglas-conant/) > [Africa offers the highest return on investment in the world.](https://sms4smile.com/quotes/mo-ibrahim/africa-offers-the-highest-return-on-investment-in-the-world/) [Mo Ibrahim](https://sms4smile.com/quotes/author/mo-ibrahim/) > [Twitter is like hugging. Just because it's hard to measure the return on investment doesn't mean there isn't value there.](https://sms4smile.com/quotes/tony-hsieh/twitter-is-like-hugging-just-because-it-s-hard-to-measure-the-return/) [Tony Hsieh](https://sms4smile.com/quotes/author/tony-hsieh/) > [“Staying, we all know, is not the norm in our mobile culture. A great deal of money is spent each day to create desires…](https://sms4smile.com/quotes/jonathan-wilson-hartgrove/staying-we-all-know-is-not-the-norm-in-our-mobile-culture-a-great/) [Jonathan Wilson-Hartgrove](https://sms4smile.com/quotes/author/jonathan-wilson-hartgrove/) > [“Clients who understand the return on investment you offer will jump at the chance to work with you. To”](https://sms4smile.com/quotes/michael-port/clients-who-understand-the-return-on-investment-you-offer-will-jump/) [Michael Port](https://sms4smile.com/quotes/author/michael-port/) > [In tennis, you strike a ball just after the rebound for the fastest return. It's the same with investment.](https://sms4smile.com/quotes/masayoshi-son/in-tennis-you-strike-a-ball-just-after-the-rebound-for-the-fastest/) [Masayoshi Son](https://sms4smile.com/quotes/author/masayoshi-son/) ## More by John C. Bogle > [The basic idea of retirement income is, to me, to get a check, two checks every month, one from your fixed income and one…](https://sms4smile.com/quotes/john-c-bogle/the-basic-idea-of-retirement-income-is-to-me-to-get-a-check-two/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [When you're young, you've got plenty of time to recover from your mistakes.](https://sms4smile.com/quotes/john-c-bogle/when-you-re-young-you-ve-got-plenty-of-time-to-recover-from-your/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [I almost hate to say how proud I am of my career and, most of all, helping folks get the returns they deserve.](https://sms4smile.com/quotes/john-c-bogle/i-almost-hate-to-say-how-proud-i-am-of-my-career-and-most-of-all/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [The Vanguard Experiment was designed to prove that mutual funds could operate independently, and do so in a manner that would directly benefit their…](https://sms4smile.com/quotes/john-c-bogle/the-vanguard-experiment-was-designed-to-prove-that-mutual-funds-could/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [“An investment in knowledge always pays the best interest. Learning is to the Studious, and Riches to the Careful. If a man empties his…](https://sms4smile.com/quotes/john-c-bogle/an-investment-in-knowledge-always-pays-the-best-interest-learning-is/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [I liked the so-called Volcker Rule. I would have separated investment banking and commercial, deposit banking, as we did under the Glass-Steagal Act. I…](https://sms4smile.com/quotes/john-c-bogle/i-liked-the-so-called-volcker-rule-i-would-have-separated-investment/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [We make too much out of past performance, and it's very misleading to investors. It causes them to move money around. They buy a…](https://sms4smile.com/quotes/john-c-bogle/we-make-too-much-out-of-past-performance-and-it-s-very-misleading-to/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [It's very difficult for any particular segment of the stock market to sustain superior performance. The watch word for our financial markets is, "reversion…](https://sms4smile.com/quotes/john-c-bogle/it-s-very-difficult-for-any-particular-segment-of-the-stock-market-to/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [I do think that impact investing is not that effective. Shares go from investor A to investor B, and the company doesn't even know…](https://sms4smile.com/quotes/john-c-bogle/i-do-think-that-impact-investing-is-not-that-effective-shares-go-from/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [I was born in an earlier generation and, as a group, my classmates at Blair Academy and Princeton University were as ethical, straightforward, and…](https://sms4smile.com/quotes/john-c-bogle/i-was-born-in-an-earlier-generation-and-as-a-group-my-classmates-at/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [My only regret about money is that I don't have more to give away.](https://sms4smile.com/quotes/john-c-bogle/my-only-regret-about-money-is-that-i-don-t-have-more-to-give-away/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [U.S. companies are innovative and entrepreneurial.](https://sms4smile.com/quotes/john-c-bogle/u-s-companies-are-innovative-and-entrepreneurial/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [Successful investing is about owning businesses and reaping the huge rewards provided by the dividends and earnings growth of our nation's - and, for…](https://sms4smile.com/quotes/john-c-bogle/successful-investing-is-about-owning-businesses-and-reaping-the-huge/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [Without getting into brothels, there are ethical capitalists the problem is that there aren't enough of them. It is not "just a few bad…](https://sms4smile.com/quotes/john-c-bogle/without-getting-into-brothels-there-are-ethical-capitalists-the/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [The average hedge fund manager is going to earn zero per cent in extra return.](https://sms4smile.com/quotes/john-c-bogle/the-average-hedge-fund-manager-is-going-to-earn-zero-per-cent-in/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) [Explore all 179 John C. Bogle quotes ](https://sms4smile.com/quotes/author/john-c-bogle/) ## More Costs quotes > [I believe that government is too large, costs too much, spends too much, and has too much regulatory power in our lives.](https://sms4smile.com/quotes/tim-walberg/i-believe-that-government-is-too-large-costs-too-much-spends-too-much/) [Tim Walberg](https://sms4smile.com/quotes/author/tim-walberg/) > [I avoid envy at all costs.](https://sms4smile.com/quotes/claudia-winkleman/i-avoid-envy-at-all-costs/) [Claudia Winkleman](https://sms4smile.com/quotes/author/claudia-winkleman/) > [“Education always costs less than ignorance.”](https://sms4smile.com/quotes/matshona-dhliwayo/education-always-costs-less-than-ignorance/) [Matshona Dhliwayo](https://sms4smile.com/quotes/author/matshona-dhliwayo/) > [One little mistake at the highest level costs you a fight, which I've learned.](https://sms4smile.com/quotes/jimi-manuwa/one-little-mistake-at-the-highest-level-costs-you-a-fight-which-i-ve/) [Jimi Manuwa](https://sms4smile.com/quotes/author/jimi-manuwa/) > [To protect our country's economic future and the health and well being of all Americans, we must find a way to rein in out-of-control…](https://sms4smile.com/quotes/michael-bennet/to-protect-our-country-s-economic-future-and-the-health-and-well/) [Michael Bennet](https://sms4smile.com/quotes/author/michael-bennet/) > [Companies are the first to see the costs of climate change.](https://sms4smile.com/quotes/paul-polman/companies-are-the-first-to-see-the-costs-of-climate-change/) [Paul Polman](https://sms4smile.com/quotes/author/paul-polman/) > [Many of us are alarmed at the skyrocketing cost of medical care, including patients, who are the consumers. However, medical malpractice is not the…](https://sms4smile.com/quotes/joe-baca/many-of-us-are-alarmed-at-the-skyrocketing-cost-of-medical-care/) [Joe Baca](https://sms4smile.com/quotes/author/joe-baca/) > [Health insurance costs in the United States are on an unsustainable path. I've heard from hundreds of Montanans who are paying thousands of dollars…](https://sms4smile.com/quotes/matt-rosendale/health-insurance-costs-in-the-united-states-are-on-an-unsustainable/) [Matt Rosendale](https://sms4smile.com/quotes/author/matt-rosendale/) > [Companies are recognizing that paid leave reduces training and turnover costs, that it's a formula for recruiting and retaining good workers.](https://sms4smile.com/quotes/tom-perez/companies-are-recognizing-that-paid-leave-reduces-training-and/) [Tom Perez](https://sms4smile.com/quotes/author/tom-perez/) > [Issues of energy, climate change, nuclear arms control and non-proliferation are all big deals. These are problems that we have to get right globally,…](https://sms4smile.com/quotes/john-holdren/issues-of-energy-climate-change-nuclear-arms-control-and-non/) [John Holdren](https://sms4smile.com/quotes/author/john-holdren/) > [You have to think about whether that Mercedes-Benz you have is actually worth how much it costs to you.](https://sms4smile.com/quotes/kristin-scott-thomas/you-have-to-think-about-whether-that-mercedes-benz-you-have-is/) [Kristin Scott Thomas](https://sms4smile.com/quotes/author/kristin-scott-thomas/) > [Employers are as sensitive to housing costs as their employees, which is why, when we build more houses, we create more jobs.](https://sms4smile.com/quotes/glenn-kelman/employers-are-as-sensitive-to-housing-costs-as-their-employees-which/) [Glenn Kelman](https://sms4smile.com/quotes/author/glenn-kelman/) > [Newspapers are not free and they never have been. They can appear to be so, but someone, somewhere is covering the costs whether that…](https://sms4smile.com/quotes/heather-brooke/newspapers-are-not-free-and-they-never-have-been-they-can-appear-to/) [Heather Brooke](https://sms4smile.com/quotes/author/heather-brooke/) > [The Affordable Care Act has failed its promises to lower costs, to let people keep their doctor and to let people keep their plans.](https://sms4smile.com/quotes/brian-mast/the-affordable-care-act-has-failed-its-promises-to-lower-costs-to-let/) [Brian Mast](https://sms4smile.com/quotes/author/brian-mast/) > [Nothing costs so much as what is bought by prayers.](https://sms4smile.com/quotes/seneca-the-younger/nothing-costs-so-much-as-what-is-bought-by-prayers/) [Seneca the Younger](https://sms4smile.com/quotes/author/seneca-the-younger/) [Browse all 534 Costs quotes ](https://sms4smile.com/quotes/about/costs/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Net return is simply the gross return of your investment portfolio less the costs you incur. Keep your investment expenses low, for the tyranny of compounding costs can devastate the miracle of compounding returns.", "creator": { "@type": "Person", "name": "John C. Bogle" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/john-c-bogle/net-return-is-simply-the-gross-return-of-your-investment-portfolio/", "about": { "@type": "Thing", "name": "Costs" }, "@id": "https://sms4smile.com/quotes/john-c-bogle/net-return-is-simply-the-gross-return-of-your-investment-portfolio/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/0ea/john-c-bogle-2199_costs_net-return-is-simply-the-gross-return-of_1760704.jpg", "contentUrl": "https://sms4smile.com/quotes/i/0ea/john-c-bogle-2199_costs_net-return-is-simply-the-gross-return-of_1760704.jpg", "url": "https://sms4smile.com/quotes/i/0ea/john-c-bogle-2199_costs_net-return-is-simply-the-gross-return-of_1760704.jpg", "width": 1080, "height": 1080, "caption": "“Net return is simply the gross return of your investment portfolio less the costs you incur. Keep your…” — John C. Bogle", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "John C. Bogle", "item": "https://sms4smile.com/quotes/author/john-c-bogle/" }, { "@type": "ListItem", "position": 4, "name": "Net return is simply the gross...", "item": "https://sms4smile.com/quotes/john-c-bogle/net-return-is-simply-the-gross-return-of-your-investment-portfolio/" } ], "@id": "https://sms4smile.com/quotes/john-c-bogle/net-return-is-simply-the-gross-return-of-your-investment-portfolio/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```