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10 Costs That Can Ruin Your Retirement Savings

Wednesday, June 29, 2011 - 9:30 AM
From SmartMoney.com
Unknown fees in your 401(k) plans, IRAs and other retirement accounts can make a world of difference in your overall investment returns.

It's said that what you don't know can't hurt you. No so. What you don't know can cost you, and sometimes cost dearly. Case in point: Advisers and others say there's a host of unknown costs and fees lurking inside your 401(k) plans, IRAs and other such retirement accounts. And often, those fees can make a world of difference in your overall investment returns.

Now truth be told, many an expert and firm the most famous of all being Vanguard are beating the drum about how 401(k) fee can be a drag on performance. Many Americans are simply unaware of the fees they pay to their plan providers. More than seven in 10 (71%) 401(k) plan participants incorrectly reported that they did not pay any fees and 6% said that they did not know whether or not they pay fees....

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