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The Great Retirement Plan Rip-Off

By tovarichpeter   Follow   Thu, 7 Jun 2012, 10:01pm   843 views   4 comments
In South San Francisco CA 94080   Watch (0)   Share   Quote   Permalink   Like   Dislike  

http://www.dailyfinance.com/2012/06/05/hidden-401k-fees-retirement-plan-ripoff/

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1. CaptainShuddup Follow Befriend (1) 249 threads 4,739 comments

   1   8:14am Fri 8 Jun 2012   Share   Quote   Permalink   Like   Dislike (1)   It's the biggest rip off concocted on the American workforce to date. Not every company provides one, when you get fired, laid off or quit, it's a hassle trying to move it around. That's if you have a new job that has a 401K. Then ultimately if you opt to just cash it out, you're lucky if you end up with a little over a third. Of course all of this hinges on if you actually have money that wasn't pillaged by the pump and dump market brigade.

2. thunderlips11 Follow Befriend (13) 52 threads 2,639 comments Premium

   2   9:24am Fri 8 Jun 2012   Share   Quote   Permalink   Like   Dislike   Yep, Wall Street's darling, the 401k. Instead of the company, union, or both managing the pension, with lawyers to negotiate fees and professional money managers, each individual is offered high-free, underperforming mutual funds to select from. Surprise! Non-professionals get worse deals and make worse choices than experts!

3. B.A.C.A.H. Follow Befriend (6) 5 threads 2,359 comments

   3   10:22pm Fri 8 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   A solution is self-directed IRA's after we change jobs / get laid off / fired etc.

4. GraooGra Follow Befriend 14 threads 232 comments

   4   10:05am Sat 9 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   This thing is heavily regulated because it reduces your pre-tax money and it is true there are hidden fees. However, I cannot wait for articles about ripping us off on our Social Security