Here are summaries of four of the most interesting and thought-provoking items that have crossed my desk this week…

Forbes Magazine Shocker:  Why your 401(k) isn’t what it’s cracked up to be!

A stunning article appeared in this week’s Forbes.¹ Here are a few of the revelations you absolutely must know about, if you participate in a 401(k):

• 71% of 401(k) investors believe – wrongly – they pay nothing to participate in their plan, according to a recent survey
• On average, participants in small plans (which includes 90% of all employees) pay 1.9% in fees annually!
• Even paying fees of just 1.5% could wipe out one-third of your nest-egg
• In spite of all the noise about “fixing” the 401(k) through new disclosure rules that will be going into effect, they “could cause some 401(k) services to get even more costly.”

 

[Read more…] “Bank On Yourself Round-Up for Week of June 3, 2011”