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

1 post / 0 new

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
Joined:
May. 8, 2012 12:06 pm

Currently Chatting

And Gilmore makes 17...

You need to know this... Support for Donald Trump's campaign is still growing nationally, and in early primary states, but he's not just gaining support in early primary states. A new poll from Florida shows that Trump is leading Jeb by 6 percentage points - and he's leading Rubio by 16 points.

Powered by Drupal, an open source content management system