Members Climbing Back From Great Recession
The financial crisis of 2008 most likely taught members one hard lesson – no one wants to lose their money like that ever again.
By some estimates, up to 90% of fees attached to retirement plans are hidden, he pointed out. By talking to a financial adviser or attending a workshop, members can learn how to get an accounting of all those fees. Seventy-one percent of those with a 401(k) had no idea they were paying fees for their retirement accounts, Rousseaux said, citing an AARP survey.
“How much you have isn't as important as you think,” Rousseaux said. “For years, planners have touted finding your magical number so that you can afford retirement. This is simply not an accurate measurement and isn't what matters.”