401(k) Fees – Excessive and Unreasonable

From BlogHer

It’s been a precipitous fall. The balance in the majority of 401(k)s keep going lower and lower and lower.Now,to add insult to injury, investors are learning that it’s not just the stock market that is hurting their bottom line, it’s the fees being charged by their 401(k)provider.

“The financial industry is a scam. Advisers and money managers earn more on your money than you do, ” says Michael Edesess,Partner and Chief Investment Officer of Fair Advisors, and author of the 2007 book, The Big Investment Lie.“The problem with 401(k)s is that in very many cases the costs are greater than the tax benefits, making them a net negative wealth-builder.”

About those costs – do you have any idea how much you are being charged in administration fees for your 401(k)?

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