Speed mostly comes down to how many instructions need to executed on the processor
(gross oversimplification, but let's run with it for second).
When you call a method, the code can be JIT compiled, giving minimal overhead. You already know what method is going to be called, therefore you know if you're calling it in a valid way, what it returns, what code it needs, etc.
When you do this with reflection, everything goes out the window. You have to try to find the method with a string, then see if you're calling it right, then get all of the code and run it. Usually, none of this can be done beforehand.
This comes back to the difference between static and dynamic:
Static: fast, everything known early, minimal effort necessary at execution time.
Dynamic: Slow, things are figured out later, so things have to be done at run time.
this does not mean reflection is 'bad'!!!!!!!! Speed is NOT the be all and the end all!!!!!
If it saves time and makes things simpler: Do it! If you find out later that you need better performance and the reflection is in the ~20% that is run ~80% of the time, then consider some other solutions. If it was, java would be a very different language and you probably wouldn't be using objects nearly at all. Obviously you should have speed in mind and have some knowledge about reflection, which is exactly why you're asking this question. :D