Protect yourself against a bad 401(k) plan by asking for full disclosure on middlemen fees and a yearly independent audit of your plan by a fiduciary. Read more about what makes a bad 401(k) bad in John Wasik’s Forbes post.
Three Key Takeaways Money Intel Recommends:
1) There is no need to pay more than 1% for any mutual fund. There is enough competition out there from mutual funds that help keep costs low.
2) Watch out for breaches of fiduciary duties such as paying for excessive fees and services that don't actually benefit you.
3) Avoid putting your company stock into your 401(k). Concentrating your risk in one company is not a good idea for your retirement savings.
Even if you don't choose us to manage your accounts, please ask your advisor
if they are a fiduciary and how they make their money. The answer could surprise you.
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