FOX – WOFL
Your peer is making the same amount of money as you. They save the same amount as well. They’re working the same number of hours. They went to school the same number of years. How is it your peers are retiring with over $100,000 more than you?
Similar companies have negotiated very different deals on their 401k fees. For employees, this adds up to a big difference in final account balance when the same amount of money is saved.
Click here to find the fees you pay at your company…
The good news is that if you have a 401(k) plan, you are on the right path to a successful retirement. In 2011, an AARP study showed that most people have a 401(k) and are knowledgeable in the amount they would like to have saved up by the time they retire. The bad news is that a lot of Americans do not realize they could be losing thousands of dollars a year due to fees associated with their 401(k)’s. The same study found seven out of ten people were not aware they pay fees to their 401(k) plan provider to maintain their account. When told of these fees, three in five were not aware, or did not feel knowledgeable, of the amount they pay in fees.