This infographic dives deep into the rabbit hole of fees associated with the investing products sold to most people saving for retirement, while also showing that these same Wall Street products often can’t beat the performance of the market.
Take a look at your investing statement, and it’s likely that your portfolio is in fact growing. Unfortunately, most people leave it at that, and they don’t question any further.
But the stats are revealing:
71% of Americans believe they pay no fees at all to have a 401(k) plan
92% of Americans admit they have no idea how much they are paying
In other words, they are blindly trusting the financial industry to look out for their best interests.
Meanwhile, the grim reality is that mutual funds, which are used in many 401(k) plans, have visible and hidden costs that can impact portfolio performance.
