401k Plan Fees

It always seems that the costs associated with managing a 401k are hard to figure out. Most large companies now send out reports that are clear about the 3-month performance of your funds, but they rarely tell you the actual dollar amount you are losing to plan fees. The Center for Retirement Research at Boston College estimates that "an annual fee of 0.5% of assets can reduce your savings by 12.5% over 30 years." If you work for a smaller company, your fees might be even higher.  

It is possible however to find out how much you are paying in plan fees. BrightScope.com has an extensive list of employer managed fund fees. For fun, I looked up one employer, the Allstate Corporation, and learned that employees investing in their 401k plan may lose more than $300,000 in savings over the course of their career. This can equate to up to 11 years of extra work to make up the money lost to fund fees.

Take a look and let me know what you found out about your employer.


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For complete program details, please visit our main site - Protect My Retirement Funds. 

We are not financial advisers and do not provide financial advice. All information provided by Protect-My-Retirement-Funds.com is of a general nature only and should not be considered as financial advice or a recommendation. Always consult your professional financial provider before making any investment decisions.

Jobs! Jobs! Jobs!

The payroll and employment reports being issued today might have a positive impact on the Dow and NASDAQ. It is estimated by the Labor Department that there were an additional 500,000 jobs created in May. That isn't terribly helpful to the 500,001st person who needed a job, but it is definitely an improvement. The only drawback to this number is that a high percentage of it represents Census Bureau workers, who are only temporarily employed. This increase in jobs means the slightest of dips in the unemployment rate, from 9.9% to 9.8 percent.

Why should any of this matter on a blog about retirement funds? Because we need people to have jobs so they can contribute to their own 401k. Otherwise, all of us with jobs will be funding the retirement of our unemployed neighbors. Also, by watching which industries are creating jobs, we might see which companies are growing, and there for might be a good bet on the stock market.

Which company are you watching grow? Are you investing in it?

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For complete program details, please visit our main site - Protect My Retirement Funds. 

We are not financial advisers and do not provide financial advice. All information provided by Protect-My-Retirement-Funds.com is of a general nature only and should not be considered as financial advice or a recommendation. Always consult your professional financial provider before making any investment decisions.