Retirement rip-off
If you’re funding a Qualified Plan like a 401(k), even a seemingly negligible fee that adds up to 1 percent can cost big. “Such a small fee can reduce your retirement balance by 28 percent,” says Garrett Gunderson, founder and chief wealth architect at the Wealth Factory.
Realize that retirement plan fees include administration charges, fund marketing charges that are known as 12-b-1 fees (marketing fees), legal fees (set-up fees, admin fees), expense ratios (paying for the manager even if it doesn’t beat a low or no cost index fund).
