I once made an appointment with the financial vice president of my company. I briefly explained how our 401k was very sub-par and showed alternatives that were better. He spent 45 minutes in an attempt to convince me that their selection was the very best plan available. I began to realize it was the very best plan for the executives and board members. Kick-back? Maybe. Low cost? Most certainly. I gave up. As soon as I could I moved my 401k to an IRA. The next company did have a reasonable plan and made a good return. Still, lots of hidden fees…..
I once made an appointment with the financial vice president of my company. I briefly explained how our 401k was very sub-par and showed alternatives that were better. He spent 45 minutes in an attempt to convince me that their selection was the very best plan available. I began to realize it was the very best plan for the executives and board members. Kick-back? Maybe. Low cost? Most certainly. I gave up. As soon as I could I moved my 401k to an IRA. The next company did have a reasonable plan and made a good return. Still, lots of hidden fees…..