Millions of us invest in our company’s 401k plan and many still have money in our prior employer’s 401k plan. We don’t understand exactly what we are
investing in, how to invest, how to review if our investments are on
track for a brighter future. You are right to be confused. With lack of information on how to invest wisely we default on the funds that seem to have the best performance hoping this track record will continue.
The enrollment meetings are confusing and information regarding the particular family of funds and fees are not always quite as transparent as they should be. The amount you pay in fees over your lifetime will take a huge bite out of your nest egg. Most Americans aren't aware of the fees they are paying in their 401(k) accounts or that over a lifetime, such charges can cost an ordinary American in the $100,000's.
According to John Bogle, Founder of The Vanguard Group - it is a “Train Wreck” awaiting American retirement. A toxic mix of too much choice, backwards incentives, and a misplaced faith in the market’s past performance has positioned America’s retirement system for an uncertain future. At BMM we meet daily to help people with this decision and felt compelled to share this documentary by FRONTLINE’S Martin Smith on the subject.
It should surprise and anger you, it did your BMM Advisor Team. You will hear Prof. Teresa Ghilarducci, an Economist, say: “The 401k is the one product that Americans buy but don’t know the price of, or the quality of, nor do they know its danger”
You don't have to stay in the dark - Click here to watch the video “The Retirement Gamble”
We can help, after you watch – and/or if you would just like to learn how to understand and benefit from your 401k plan – email us to receive information on our free webinar in September. If you prefer you can email us to schedule private time to talk to a member your BMM Advisor team.
We help people just like you every day work through these problems and invite you to do the same. Reach out to a member of the BMM Advisor team.
Investment advisory services are offered through Berson Money Management, a registered investment adviser offering advisory services in the State of California and in other jurisdictions where exempted. The contents of the blog are not to be copied, quoted, excerpted or distributed without express written permission of the firm. Any other use beyond its author's intent, distribution or copying of the contents of this e‐mail is strictly prohibited. Nothing in this document is intended as legal, accounting, or tax advice, and is for informational purposes only.
