Chad Parks, CEO and founder of The Online 401(k), was invited to appear on Fox Business’ The Willis Report to discuss how 401(k) fees are threatening Americans’ retirements. During his segment, he also brought up how the looming retirement crisis is, in fact, real, and how 401(k) fees are a big part of it.
The looming retirement crisis threatens all of us. The three-legged stool of retirement – pensions, Social Security and individual savings – is now a pogo stick, with individual savings as the only leg. In 2012, we can save up to $17,000 in our 401(k)s tax-free, and starting in 2013, we can save up to $17,500. Take advantage of this opportunity, and your future self will thank you!
If you missed Chad’s appearance on The Willis Report, you can check it out here.