20 Responses to “The Truth Behind Hidden Fees in 401(k) Plans (Part 1/3)”

  1. 401kmaster says:

    @gaddiswfg Man to …
    @gaddiswfg Man to be in the field you really need to do your home work. Independent Fiduciaries that manage 401k plans have a total different plan than the financial services 401k. Its just most employers don’t do their homework.

  2. Delparm says:

    put your money …
    put your money where your mouth is? I don’t advice any product I don’t own myself. & I show my clients where “MY” money is & what it’s done over the last decade.

  3. vgrantthompson says:

    Second to Social …
    Second to Social Security.

  4. vgrantthompson says:

    Also consider what …
    Also consider what the government is going to take back in taxes when you begin pulling money out these “government created programs” as well as how it get’s taxed in the Estate Tax. The best thing is to stay completely out of ALL tax qualified plans like these.

  5. gaddiswfg says:

    Actually, I’m a …
    Actually, I’m a licensed Professional Financial Specialist, & I help people on a daily basis roll their 401Ks over into vehicles that exist that have absolutely NO FEES, have a guaranteed minimum rate of return when the market is down and mirror the market when it’s up, avoids probate, has guaranteed principal and is guaranteed NEVER to lose money. Yes, 401Ks are all rip offs, but I help my clients actually never lose money again. There are vehicles that give these guarantees.

  6. lit26 says:

    nothing is free no …
    nothing is free no one just says oh im goign to hold your money for you and give it back when you are ready! I have never investedi n 401 k but i know that if you have 500,000 your only getting 450,000 or less! america is not out to help anyone. its all abotu give and take

  7. RayAir1 says:

    401k is the biggest …
    401k is the biggest ponzi scheme in U.S history.

  8. 401kmaster says:

    the 401k and …
    the 401k and pension is close the only difference is business owners cared more because it was their money.

  9. 401kmaster says:

    not true i work …
    not true i work with the man in the video the independent fiduciary that found the fees. There is a group of 50 fiduciary’s out there fighting for you. Business owners just have to pay attention and pick the right people. when i do reviews business owners dont care its not their money so Its there fault to.

  10. TheRounder1980 says:

    All 401ks are not …
    All 401ks are not created equal. I’ve been trying to help business and employees for years. Guess what they don’t listen. 1% extra in hidden fees can eat up as much as 30% total retirement. wake up read educate. Read the 401k rip off and by David Looper also The smartest 401k book you ever read. Than find a advisor that is fee only he doesn’t make commissions and also you should find a Fiduciary advisor and make him put it in writing if it is your boss ask him to change providers.

  11. TheRounder1980 says:

    Yes this is sad. …
    Yes this is sad. But please be aware and educated that’s how you fight back. Matt Hutchenson the man on this video is working with congress and he is endorsing true fiduciary firms that always put there clients first, no hidden fees. He has found 17 firms so far. I’m one of them and I’m very proud of this. Ive been telling business this for years and they told me I was crazy remember there are people trying to help. I also brought this story to 60 minutes. Find Matt H. on yahoo for a goodplan

  12. beermangary says:

    people need to …
    people need to start reading all the fine print and to stop trusting corporations and government. this is very sad for all the retiring people.

  13. aMiNaB3LLA says:

    and the US …
    and the US government allows this, not very suprising…

  14. 70road says:

    I have been saying …
    I have been saying this for years, the idea that a 401K is the same as a pension is ridiculous. Like PT Barnum said “There’s a sucker born every minute.”

  15. diamondofdistinction says:

    wow that is crazy
    wow that is crazy

  16. sinjoart says:

    No wonder that we …
    No wonder that we get in this mess.The
    laws are double standard.Viva China!!!!

  17. BXGUY73 says:

    Your 100% right. …
    Your 100% right. Your probably better off saving it your self in a separated account and putting some in fixed rate CD’s.

  18. RayAir1 says:

    Best 401k advice: …
    Best 401k advice: DON’T!
    Don’t give the crooks your hard earned money. you need to learn to live as debt free as possible.

  19. KARStarla says:

    When do people ” …
    When do people “typically” find this out concerning their 401k’s? I have to inform my mom who is depending on hers.

    This world sucks

  20. KARStarla says:

    The whole system is …
    The whole system is corrupt.

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