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Be Wary of Your 401(k) Plans


#1 detectiveconan16   Delicious! CAGiversary!   7144 Posts   Joined 12.7 Years Ago  

detectiveconan16

Posted 19 October 2015 - 10:34 AM

Some of you CAGs may have these plans already, but does one actually pay attention to the terms and conditions of their 401(k)s? I just listened to a story about how compounded fees and interests are eating away at these retirement savings, and basically it says that companies will misrepresent how much will be taken out of these plans. 2% may seem like nothing, but it does add up over time. http://www.npr.org/2...-401-k-nest-egg

 

I guess, invest in a better mattress?



#2 WarioForLife  

WarioForLife

Posted 29 October 2015 - 05:51 PM

If they offer matching always meet the full amount! That's just free money. What my moms says.



#3 Blaster man  

Blaster man

Posted 29 October 2015 - 10:55 PM

Generally speaking, if you get an index fund you pay lower management fees.

#4 jms493   CAG Veteran CAGiversary!   113 Posts   Joined 11.1 Years Ago  

Posted 16 November 2015 - 09:34 PM

All of this information has to be disclosed.  yes educate yourself...all funds have different expense ratios.  If you are concerned about it then check all the funds in your account.

 

But honestly...the #1 factor that determines how much you will have in the end is the amount of money you actually put into it.  The fees are something to be concerned about but don't let that scare you away from investing.