Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2761:
Discover the surprising costs of your 401(k) in Logan Allec's exploration of the often overlooked fees draining your retirement savings. Allec illuminates hidden charges like 12b-1 fees, administration costs, and transaction fees, offering crucial advice on how to minimize their impact and maximize your future funds.
Read along with the original article(s) here: https://savingjoyfully.com/blog/hidden-401k-fees-no-one-talks-about
Quotes to ponder:
"Your 401(k) may be charging you for a variety of things that you’re not aware of depending on how you use the account."
"While some 401(k) providers don’t charge fees, the vast majority do, and you may be surprised when you realize how much of your contributions are covering these costs rather than your retirement."
"12b-1 fees are legally limited to 1% of your total assets, but a single percent can have a substantial impact on your retirement savings."
Learn more about your ad choices. Visit megaphone.fm/adchoices
Optimal Finance Daily - Financial Independence and Money Advice