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Have you been relying on your 401(k) for your retirement? You’re in good company – the 401(k) is the retirement plan of choice for the majority of businesses, with a total of $3.5 trillion in the plans.
But here’s something you might not be aware of: The high fees that are often attached to these plans are subtracting years of well-funded retirement. And why? Only to line the pockets of insurance companies, payroll companies and brokers.
As Tony noted today in a CNBC video interview, for 30 years, the 401(k) industry did not have to reveal how much it was charging consumers. Now that they do, thanks to new legislature around disclosure, they’ve simply created 50-page documents that are so opaque it would take a Ph.D (and a boatload of patience) to understand. Within these “disclosure” agreements, there are as many as 17 different additional charges that are not outright called “fees.”
In fact, eight out of ten Americans don’t know the cost of their plan – and 67% believe they’re not paying anything. Nothing could be further from the truth!
Tony got so sick of the abuses of this industry that he partnered with America’s Best 401(k) to provide a way for Americans to find out how much you’re really paying in fees for free. Take advantage of this opportunity now by going to ShowMeTheFees.com and see how many years you can add to your retirement.
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