Hacker News Reader

How frequently do you think most people make such transactions?

I don’t know about individuals, but there are quite a few people exposed to transactions costs via 401k/IRA/taxpayer funded pensions/etc.

I haven't incurred a trade in a 401k in a decade. Sub-milli liquidity is absolutely unnecessary for me.

Even making deposits into the account incurs transactions. Sure, speed doesn't matter here, but overhead does.