15 Years of Fee Transparency

How much are you paying on your 401(k)?  A poll conducted by AARP concluded that 71% believed that they paid no fees for their 401(k).  In reality, all 401(k) plans have some fee structure set up.  Because the amount of fees paid will impact your nest egg over time, every individual investor should be aware of the fees he or she is paying.  An article recently published by MSN Money called "Is your 401k ripping you off?" further explains the affects of fees in employer plans. 

It is important to understand the many different levels and types of fees as well.  There may be portfolio management fees, transaction fees, commissions, mutual fund expenses, loads, or other types of expenses "built into" accounts.  Regardless of the account type, MAKE SURE you know what fees you are paying and seek to reduce those costs.

Financial fitness plan 2012

"Most couch potatoes will never compete in a triathlon. But they don't need to. Just a few minutes of exercise a day can help the formerly inert shed pounds, boost their energy levels and live longer. If you're already getting a little exercise, a little more can get you truly fit.

The same is true with money. You probably won't transform yourself from a train wreck into a billionaire. With some effort, though, you can pay down debt, build up savings and look forward to a more comfortable financial future."

- Liz Weston in her MSN Money article, "Get financially fit in 2012"

Weston lists five things you can do to help reduce debt, boost savings, and cut expenses:

1) Get your priorities straight.

2) Implement a plan to deal with your debt.

3) Review your expenses.

4) Create your survival plan.

5) Protect what you've got.

Read the full article to find out how.

Generation Y, start saving!

Think you'll have enough money saved for retirement? A recent article by Emily Brandon of U.S. News & World Report writes, "Twenty-somethings will need to save much more than their parents did for retirement. To do that, they'll need an early start -- and a game plan."

Read the full article on MSN Money.

Money Rules

In MSN Money's Liz Weston's recent article "9 money rules to live by," she lists nine rules that will help you take control of your spending. And believe it or not, they're fairly simple!

Read the full article.

Will I have enough in retirement?

It is often difficult to predict how much money we will need in retirement, as several factors must be taken into consideration when calculating retirement needs. A recent MSN Money article, "Is your retirement on track?" by Liz Davidson, offers suggestions on how to best predict what you'll need in retirement.

Click here to read the full article.