“You have to spend money to make money.”

Yes, this statement has become a bit of a cliché, but it’s also accurate when it comes to investing fees.

Unfortunately, one of the biggest issues with these fees is that there can often be a lack of transparency when it comes to how much you’re being charged. It’s critical for investors to understand what they’re getting from these surcharges. Here are two key questions you should ask. 

Do You Know How Much You’re Paying in Fees?

It may seem strange to be asked whether you know how much you’re paying for a service. If you hire a plumber, for instance, you’ll likely know precisely how much you’re being charged and exactly what you’re receiving for your payment.

That’s not the case for many people working with financial professionals. The research firm Hearts and Wallets found that 37% of people didn’t know how much they’re paying to use the services of a financial firm and 30% believed they pay “nothing.” Worse, 72% of those who said they paid nothing in fees to the firm also believed they didn’t pay anything for the investments they own.

Those numbers are staggering, especially when you consider how much fees can add up over time. Let’s say you have a $100,000 portfolio and you’re charged a 1% annual fee. According to data from the SEC, if that portfolio earns a hypothetical 4% annual rate of return over 20 years, you’ll pay about $28,000 in fees. If you had been able to instead invest that $28,000, you would have earned an additional $12,000. That’s a $40,000 difference.

That being said, it doesn’t mean that fees are something to be avoided at all costs. If you have a leaky drain and you don’t know how to fix it, the fee charged by a plumber is going to be worth every penny. So, too, can the fees from a financial advisor be worth paying for, but only if you’re getting good value from them.

Which Fees Constitute Good Value?

How do you know whether your fees are worth paying for? Services that tend to provide the most long-term value—things like high-quality financial advice, retirement income planning and tax planning—are typically justifiable uses for your fees. On the other hand, commoditized services like commissions, transaction fees and custodian fees have lesser value and should be mitigated as much as possible.

However you decide to invest your money, you’re going to pay some fees. That’s not something that’s inherently bad, as long as the fees you’re paying provide value and you have a clear understanding what you’re paying for. And if at the end of the day you don’t see the value, then it may be time to reevaluate the relationship you have with your advisor.

This article originally appeared on September 4, 2016 in the Des Moines Register. You may view the article here.