if you are passively choosing investments in your 401k plan without reviewing fees, please watch this video and be aware. My friend chose a balanced lifecycle mutual fund as the default option even though there were index funds with far fewer fees. The difference in performance was horrific, but that’s less predictable. The fees though were inexcusable, and could cost him over $36,000 in a 20-year horizon even if the funds perform as well as the index (which they hadn’t for the past 1, 3, 5, and 10 years)
#personalfinance #financialindependence #savemoney #401k #investingforbeginners #financialliteracy #financialeducation
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