4 posts tagged “investing”
Your company 401k may be eroding without you knowing it!
John Hancock, Fidelity, Nationwide, and others refuse to talk on TV about their hidden fees that can take a big chunk out of your 401k plan. Say goodbye to almost half of your nest egg!
Firms may say that they are not lying. Maybe so, but what they are doing is hiding the true cost of your plan so that you are not made aware, in simple terms, the total cost and effect on your plan account. Each percentage point costs you dearly. Some of these firms are charging over the 1% maximum total you should have to pay for in your plan.
Total fees -- disclosed and hidden -- can hit 2 percent for companies with hundreds of workers and 3 percent for firms with fewer than 100, says Hutcheson, who has studied scores of plans. That's double or triple the 1 percent maximum investors should pay.
In extreme cases, fees can be much higher. Jerre
Daniels- Hall, a Port Orchard, Washington, teacher alleges in a lawsuit
that a 403(b) plan run by the National Education Association for the
South Kitsap School District has fees totaling 12.17 percent for some employees!
A 403(b), similar to a 401(k), is available to workers in government and nonprofit corporations.
Some folks think after reading our posts here that we are Consipracy Theorists (in the negative connotation). In fact, what we do is simply question the things that go on around us so that we know the whole truth.
So what can you do if you participate in a company sponsored 401k or 403b plan? You can find your retirement plan committee and ask to see all the fees associated with the plan including revenue sharing fees. Have a document signed verifying that these are all the fees in the plan and to what effect the total of the fees will have on your account. If your company does not have a committee, get it from the plan administrator.
Don't let anyone including the firm hired to invest your funds tell you that they can not give you a detailed explanation of all fees and charges levied on your account.
All the mutual fund options in your plan have fees too. You must get a simplified but detailed disclosure of costs to you and your plan. If they tell you to check their Statement of Additional Information, tell them that it is too complicated to understand and you need a simplified but detailed disclosure document.
What if they refuse? Get out of the plan and invest your money on your own and seek professional advice.
Be cautious and ASK QUESTIONS. Don't let your hard earned money get removed from your plan account without you knowing what they are taking from you. Otherwise, you may wind up with less money than what you put in!!
Companies are under no obligation to tell you this information so unless you ask for the information no one will give it to you freely. PLUS don't accept the complicated explanation of the fees and charges. This is done to keep you in the dark.
While your company may have your best interest at heart, they too may not know or realize the true cost of their plan and its affect on you the participant.
Don't however remove your money altogether...roll it into an IRA with a brokerage firm like TDameritrade. You must invest it (stocks and ETFs) while also continuing to add to it to be able to allow you to retire and live comfortably. Seek professional advice and get this information mentioned above. Or get yourself educated and invest on your own with a good plan.
There are many good web sites including this one that can help you learn how to invest wisely and safely; making money while limiting investment losses.
Making money for your future should be just as important as your family is today or if single, just as important as your health.
You can go hog wild and use any number of "Systems" that are out there for use in the market today. These can not only be expensive, but they can be difficult to understand and learn for many. Interesting then that they would then offer to have you pay for a seminar to teach you their system.
That is where we have found an effective but simple tool for normal people like us. Click on this link to see how the tool is used in relation to a real time issue, Freddie Mac (FRE) and Frannie May (FNM).
Not only is the tool very straight forward, it takes no time to learn and the founder continually shows you how this and its associated tools are used. It could not be any simpler and we can only wish that we would have found this tool early on in our investing/trading business. But without all the hype you see spammed throughout your email, we wish to share with you something that can make you feel at ease with the market. The tool we use is simple, takes away the emotional deficit of our trades, it gives us peace of mind because it gives us that simplicity and gives us time back to focus on other parts of the business and time back for our family and friends.
We are not advertising on behalf of this tool. What we are doing is sharing our views, news, ideas, and tools that we use in the market. If something comes across our desks that we find can affect your trades or investments, we'll report on it here in our blogs. If we find something that can save you time and money and is effective for us, then perhaps it will be for you as well, so we share it here for you too! We hope that you too will share your knowledge, thoughts, ideas, and findings. That is the whole purpose of social networking from a productive web site sense. It is fine to have fun on a web site if you think sites like (Facebook) are fun, but is it not better to utilize your time online with a site that can effectively educate, and share the honest ideas and findings of a large number of people and not just a few? I believe that is what this site: MarketEDU is all about and that is why Future1investor is here. To share with you and receive productive benefits in return.
Thank you in advance for all the things you may come to share with us and everyone here at MarketEDU.
There are very few things out here on the internet that I am genuinely excited about. My Father taught me about the importance of value for your money or in other words "bang for the buck". With that in mind, there is quite a lot to disappoint you. You'll waste hundreds and likely thousands of dollars because giving this trading system, that trading system, an online seminar here, a hotel seminar there, books, lots of books, CDs, DVDs, a try.. is like going to a casino.
You get to put down your money for a chance to win some knowledge. A chance to beat the house, or a chance to do better than the average guy/gal. A chance, just a chance and no guarantees either. Its all just a crap shoot!
Then every once in a blue moon, you might come across a site that delivers all those things, and has value to boot! One such a site is INO TV. I wrote about it a couple days ago here when I talked about Linda Raschke. Hers was one of the totally free video seminars that you can watch on the site even before plunking down even a dollar.
Then if like me you decide to plunk down some cash, you'll find that it is a most reasonable offer. And what do you get? YOU GET A LOT !!!!
For one, you'll find that this is universal training. It isn't tied to just our market here in the good ole U.S. of A. You'll find that it works for people in the U.K., Canada, Germany, China, Australia, simply everywhere.
And if you've ever taken an online course at a college, you know how expensive that can be. And you know that you are limited on time and the course will soon end. So you better have your entire schedule clear so that you can concentrate on your studies and nothing but. Otherwise the money will be gone before you know it and so will the training. INO TV gives you an Ivy League education and you can train at your own pace w/o the fear that it will be gone if you happen to get tied up with real life for a few weeks.
Huge Library!
Thats right, you aren't limited to a small selection of seminars. One price gives you access to this whole huge library of trading seminars. When you were in college, did you ever have a teacher that you just didn't get? That no matter how hard you tried you just weren't going to benefit from attending his/her class? Well my friends, that can happen at a seminar too! But with INO TV, if you find that you just don't "get" a particular trainer, guess what? You can search for another trainer on the same topic! They have a functioning search engine that helps you find exactly what you want. And if you aren't the type to use online search tools, the seminars are laid out in a very logical index as well. So you'll be sure to find the education that you want and need!
Real Life Experience
Unlike some college professors who just learn how to teach and the subject they are teaching in college before they themselves start regurgitating it back onto you; the trainers at INO TV are professionals with real life experience. They are some of the most well known traders in the world and they're available to teach you when you are part of INO TV. There are literally experts on every topic!
Eleven Channels
If you are a beginner, this is the best channel to start with. As you wish to learn more specific topics then move onto such channels as Charts & Analysis, Day Trading, Futures/Commodities, Options Trading, and more.
Great Way To Learn About Trading Systems!
Rather than waste lots of money trying this system or that system, you can find out all about trading systems at INO TV. It will help you choose the system that is right for you and eliminate the random chance. Discard all those trading systems spam emails. Go here first, find out about them on INO TV and decide which one is right for you. You could be saving yourself a huge chunk of change in this area alone! Again, that is what my Father calls value.
Help From Real People
This is the first of five promises you get as an INO TV subscriber. It isn't just a web site that is put up there for you to take down information and then have no support system should you need it. It is run and maintained by real people who are accessible to you either by email (the very most other sites ever offer you) or by phone from 9:00 a.m. to 5:00 p.m. EST Monday thru Friday.
He Rested On the 7th Day
As you can tell, when I believe in something, I can be pretty passionate about it in my writing. Zig Ziglar once taught me that you can not truly convince others how good a product/service is unless you yourself use it on a daily basis. I use MarketClub and INO TV six days a week (Mon-Fri, Sun). Unlike God who rested on the 7th day, I do my R&R on Saturdays. Sunday, I'm preparing for the market on Monday.
Have you ever known you can trust someone just by the way they talk? There are those who you know are not selling you something but showing you common sense. Watch this short video and you decide. You'll meet Adam Hewison one of the co-founders of INO TV. Listen closely to his voice and you'll know and hear exactly what I mean.
Take it from me, one of the normal folks out there. If you tend to have a few indulgences in life, you'll not find a more invaluable indulgence than this one!
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