One of the nerdiest things about my nerdy self is that I love documentaries.
And one of the best sources for well-done documentaries is PBS’ Frontline.
Tonight’s program is a new one about America’s retirement industry and how the 401(k) and IRA fees we’re being charged may be costing us years of retirement savings.
Here’s a 30 second sneak peak:
Even if you’re not a documentary nerd, this might be one to check out.
Consider these findings from The Retirement Gamble press release:
- On any given street, one household may be paying 10 times as much to invest in a 401(k) as the household next door;
- Over the course of a lifetime, a seemingly low annual fee of 2 percent can reduce what your balance would have been by more than 60 percent—potentially adding years to your working life;
- Popular 401(k) providers often charge a plethora of hidden fees, burying them under opaque names like “Expense Ratio”;
- Many financial advisers are not required to provide advice that is in their clients’ best interest; they are only obligated to give advice that is “suitable”; and
- The best way to maximize your return might be to cut Wall Street out of the equation and invest in low-cost, unmanaged index funds.
If you happen to miss it tonight, it will be available to watch for free on the PBS website as soon as it airs.