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How Your Retirement Nest Egg is Being Nickel-and-Dimed by Fees

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Amanda wants to live in a world where retirement security is no longer a dream. When she’s not nerding out on social media, you can find her exploring life through her motto, “live life like a curious child with a meticulous attention to details.” Her retirement goals are to travel and own a French vineyard. Happy saving #SaverNation

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September 11, 2015 at 11:07 pm
Press

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Chad Parks, CEO + Founder of Ubiquity Retirement + Savings, talks with U.S. News Money about retirement plan fees and how to avoid them.

He says Ubiquity Retirement + Savings is able to keep expenses to a minimum because it focuses on index funds. These, as well as target-date funds, typically have lower expense fees than actively managed mutual funds, which can charge above 1 percent of the invested balance.

A 1 percent fee may not seem like a lot, but Parks says workers shouldn’t be fooled. “A 1 percent difference in fees – that’s literally hundreds of thousands out of [your] retirement account over the course of a lifetime,” he says.

 

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