Here are summaries of four of the most interesting and thought-provoking items that have crossed my desk this week…
Forbes Magazine Shocker: Why your 401(k) isn’t what it’s cracked up to be!
A stunning article appeared in this week’s Forbes.1 Here are a few of the revelations you absolutely must know about, if you participate in a 401(k):
- 71% of 401(k) investors believe – wrongly – they pay nothing to participate in their plan, according to a recent survey
- On average, participants in small plans (which includes 90% of all employees) pay 1.9% in fees annually!
- Even paying fees of just 1.5% could wipe out one-third of your nest-egg
- In spite of all the noise about “fixing” the 401(k) through new disclosure rules that will be going into effect, they “could cause some 401(k) services to get even more costly.”
Why you need an 8-10% annual return just to break even in your 401(k)…
It’s all documented in this 401(k) exposé I co-wrote with Pulitzer Prize-nominated journalist Dean Rotbart. You owe it to yourself to have the facts!
Is repaying debt a “moral” issue?
Not long ago, it would have been unthinkable to many Americans to walk away from the debts they owe on their home mortgage and other obligations. Today it’s commonplace.
This article explores whether our government’s attitude towards debt has encouraged that.2
Has your attitude about repaying debt changed in recent years?
If so, we’d like to hear how and why in the Comments box at the end of this post.
Why your retirement is much riskier than your parents’
More than half of Americans are now at risk of facing a significant retirement income shortfall, according to the latest National Retirement Risk Index.
This article gives four reasons today’s workers will be retiring in a substantially more challenging environment3
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Eight reasons a 30-year mortgage beats a 15-year one
Many people have learned the hard way that the idea of paying off your mortgage as quickly as possible may be a noble goal, but tying up such a large sum in a home can be devastating.
This article gives eight great reasons you would be better off with a 30-year mortgage.4
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