Hidden 401k Fees

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.


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