For my American friends.
Question: How much money are you paying in 401(k) fees?
Answer: Have you thought about buying a home lately?
That’s right. According to Robert Hiltonsmith at Demos, a New York based think tank, we could purchase a residence with the amount of money the financial services and retirement industries siphon out of our 401(k) savings over the course of our careers. His recently released report, The Retirement Savings Drain, calculates that the average household will pay almost $155,000 over the course of a lifetime for the privilege of saving their own money, just slightly under the median price of a previously occupied home in the United States, according to the National Association of Realtors.
“There is ample evidence that these fees are excessive,” Hiltonsmith writes. His evidence: The costs of running a traditional pension is significantly less than that of administering a 401(k). …
Forbes – More Bad News About 401(k) Fees
One example …
via Frontline – The Retirement Gamble.