High fees are eroding Americans’ retirement savings to such an extent that one study found that, for some, the deleterious effects of fees actually outweigh the benefits of using a retirement account in the first place. And, to make matters worse, half of Americans don’t even know how much they are paying in fees! Today’s article depicts how even the tiniest change in fees can substantially erode (or boost) returns in retirement accounts. To read more, CLICK HERE.
With the average savings account yielding a meager 0.11 percent – far less than the rate of inflation – one financial planner cited in today’s article describes using a traditional savings account for your emergency fund cash as simply being a way of “losing money safely”. As such, the author proceeds to outline other options for your emergency fund that can boost returns. To find out what these options are – as well as for the strategy one firm recommends using if you choose to risk your emergency fund in the market – CLICK HERE.
When it comes to target-date funds, today’s article states that the popular retirement investment vehicles may become more interesting and less expensive this year. Specifically, the article examines how some fund sponsors are going about trying to reduce volatility, boost returns, lower fees, and even select more socially conscious investments, all in an effort to attract more investors. To read more about this target-date fund makeover trend, CLICK HERE.