401(k) fees could reduce average nest egg by 30%

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http://www.latimes.com/business/la-fi-401k-fees-20120530,0,6918904.story

"Here's the latest scary retirement statistic.

The average American couple could pay nearly $155,000 in fees for their 401(k) plans over their careers, reducing their eventual nest eggs by more than 30%, according to a new report.

Rather than the hypothetical $510,000 that a dual-earner couple could have at retirement with no fees, they would be left with only $355,000. The fees include explicit charges and indirect expenses, such as the cost that mutual funds incur to trade stocks.

Wealthier families could shell out nearly $278,000 in fees, according to the analysis by Demos, a nonpartisan research organization."

Love those fees-now you know why Wall Street pushed for the change from pensions to 401Ks.

lovecraft
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The other way we're subsidizing Walmart...

Most of us know how taxpayers subsidize Walmart's low wages with billions of dollars in Medicaid, food stamps, and other financial assistance for workers. But, did you know that we're also subsidizing the retail giant by paying the cost of their environmental destruction.

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