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By: Dan Solin
Investing is a unique business. After all, you wouldn’t think of buying any commercial item (like a car) without first negotiating for the lowest price. And few people would consider buying a product if they had no information about its price tag. Yet that is precisely what most investors do. They have no idea how much their retirement plans — 401(k)s and IRAs — or individual investments cost.
When investors are confronted with a choice about whether to keep or rollover their 401(k) plans, they face a complex decision. Should they keep it with their old employer, roll it over to their new employer or roll it over to an IRA?
Investors with non-retirement accounts also face challenges. Do you know how much you are paying for financial advice? Do you know whether there are funds available that track the same benchmark as the funds you are holding, but charge a lower management fee?