I watched the disturbing Frontline documentary on PBS,The Retirement Gamble, and not surprisingly, I got to thinking about the fees I pay for investing in my retirement accounts.
On average, 401(k) fees reduce investment returns by 1 to 2 percent a year. As I read in this Next Avenue post, the Demos think tank published a report last year estimating that a median-income, two-earner household will pay nearly $155,000 in 401(k) fees over the course of the two workers’ lifetimes.
Like many of you, I’m on my second act and run my own solo business. I don’t have to sweat 401 (k) fees per se. But I do need to keep a sharp eye on the fees I pay for the investments in my IRA accounts.