New Labor Department rules will require fuller disclosure about the fees charged on 401(k)’s. Fees, of course, can be an enormous drain on retirement savings — but they are often obscured, giving many Americans the impression that the accounts are somehow cost-free.

New 401(k) Rules Open the Curtain on Fees - NYTimes.com

We’ve been warning you about 401(k) fees for years, and pretty soon, you’ll know why we were making such a big deal out of it.  Contribute enough to get the match, but then put the rest of your retirement savings into a Roth IRA.  If you’ve hit the limit on the Roth and still have more to put away, then look back to your 401(k).

Source: The New York Times

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