Was reading some interesting stats the other day. According to the DOL, there are, like, 650,000 retirement accounts in the U.S…. 80% of which are 401(k) plans. When these plans were audited by the Employee Benefits Security Administration (EBSA) (which is the regulatory body that enforces the Employee Retirement Income Security Act which governs retirement […]
Why your 401(k) underperforms, even with cheep investments
I was reading recently about some study that said Americans are less secure about their retirement this year than they were last year. Uh ohs. The average 401(k) balance is about $100,000 at most age brackets and people aren’t saving a lot of money. A hundred grand isn’t a lot of money. For most households, […]
Why retirement plans are a big fat tax idiot
Let’s rap about why retirement plans are the basic bitch of the financial industry. First, the tax “benefits.” Everyone talks about them. But, where are they? Really… Enter, the professionals. The Society of Actuaries (which helps guide the design of pension and retirement plans) tells the general public what most financial planners have known for […]