The Truth Behind Hidden Fees in 401(k) Plans (Part 3/3)

[samantha34ize]

fuk these greed y american that wat they get

[samantha34ize]

u stupid ppl get rob complain on internet if gove do something u say frretrade leave me alone mine ur own business stupid usa ppl fuk u u deserveit

[structs]

WHAT A SHAME! HOW DARE ARE THEY IN HIDING THESE FEES?????? AND WORST STEALING OUR MONEY! IT'S OKAY TO MAKE MONEY AND HAVE FEES FOR CERTAIN SERVICES BUT THIS IS AN ABSURD! WE AND THE GOVERNMENT HAVE TO DO SOMETHING!

[cdavaz]

Ok, now I have a clue, now WTF can I do about it?!

[Transen12]

@cdavaz Simple.  Stop contributing to it.

[cdavaz]

@Transen12 so the growth in my savings account is better? I don't think so. AFAIK there are still no better options.

[UWLstudent]

I guess that we all need to put our money in our matresses and have absolutely no chance of growing our retirement savings.

[jnnycliff]

Go to live in China or some other country in Asia, enjoy your retirement life. My grandpa live with $1200/month and he support 8 people family in china. that's call life

[gradius55]

i guess if you can get a company match, that will pay for the fees?

[dragonrides]

The market performance is random-crash is specifically designed NOT to pay the retirees and keep them in the workforce for more taxes and control of their money. We are right on time for first generation of withdrawal-coincident?

The financial industry, who we already paid ton of money to sustain their 6-digit pay, charges fees to rip us all off everyday, locks us out of the access to OUR money. I'm not going to hope that my own 11 years, when I am 59.5~70.5, falls in a bull market: OUT NOW!

[equityinsgroup]

insist on a 401k plan that offers ETF's.

Why will you not see it? Very low expense

ratios.

[l0ge062]

I agree but remember, that's only the investment management fee your talking about. The wrap fee "revenue sharing fee" as the video termed it, is still placed on top of each investment. Although an ETF may have low expenses, insist that the trustee on your 401(k) plan let you know what the total fees are on your existing plan. If the wrap fee + admin + 12b1 charges + account fees are more that 1% of the total plan assets; it's an expensive 401(k) plan that your company is sponsoring.

[arcdex]

Thanks for posting this! More people need to watch this AND watch the mutual fund companies very, very closely.