N HIDDEN 401K FEES N June 19 (Bloomberg TV) -- Bloomberg's Mike Schneider reports on the hidden fees that are eroding the value of 401(k) retirement accounts. Some 78 million Baby Boomers will be heading into retirement this year, many dependent on their 401(k) plans. What many will learn, according to the AARP, is the average balance for Boomers nearing retirement is $60,000, due in part to hidden fees that can, over a lifetime of savings, skim off more than half of a 401(k) investor's potential returns.
The Truth Behind Hidden Fees in 401(k) Plans:
(The Knights of Columbus has an alternative, scroll to bottom! )
CBS "60 Minutes" Expose'
What does Tom Smith think?
Bloomberg News Expose'
Hidden 401k Fees (Parts 1-3)
Did you know that even in good times, you're still losing?
That's because the average 401k plan costs itsparticipants 3 to 3.5 percent in
fees and other hidden charges. Click here to find out more!
+ Washington Post Article + Bloomberg Article + Public Radio Interview
+ Press Release from House Education and Labor Committee, Wash, D.C.
"People charged with steering many of the nation's 401(k) plans
often have little investing experience and no formal education."
+Smart Money report- Who is running your 401k
+MSNBC's special report- Time to retire your 401K!
What does Tom Smith think?
+A Time-CNN Special Feature- Why it's time to retire the 401K
+Could the market be rigged against the investor? You decide- Wall Streets Naked Swindle
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The Knights of Columbus Alternative:
The beauty of our products lies squarely in their simplicity and security. Simple from the standpoint that they're fixed in nature. They provide long-term accumulation of wealth, specifically designed for retirement needs. There are no hidden management fees or annual charges. (Surrender charges may apply).
Secure because they are backed by the Knights of Columbus, an organization that earns the highest ratings from independent rating services while maintaining high ethical standards.
Our investment philosophy is consistent with the nature of the funds entrusted to us. We invest in vehicles that generate competitive rates for you, while assuring absolute safety of your retirement nest egg.
Whether you're looking to start a retirement savings program or moving substantial, more volatile funds into 'safer waters', the Knights of Columbus offers programs that can help you achieve your goals! Press Release: KofC Insurance Receives Highest Rating
What does Tom Smith think?
KofC Links:
Supreme Knight Carl Anderson's Letter to the members
Merits of Permanent Life Insurance:
Occasionally, someone speaks out publicly on behalf of the merits of permanent life insurance. CNBC interviewed investment professionals, Joe Heider of Dawson Wealth Management and Adam Sherman of Firstrust Financial Resources, that are advising their clients on the advantages of owning permanent whole life insurance as part of their clients overall financial planning strategy. Click on the following link to watch this short video from CNBC as the advantages of owning permanent life insurance are discussed. Watch Video