Having a retirement plan opens your path to financial freedom – start early, start now – compound interest is on your side! There are different types of retirement plans, and it is important to familiarize yourself with the plans available to you.
Always pay attention to investment fund fees. High fees can easily eat into your retirement savings. A 1% difference in investment fund fees can reduce your retirement account balance by tens of thousands of dollars. That is quite a loss, and something you want to avoid. Read more about fees here.
JL Collins from a Simple Path to Wealth has a gem in this blog post. Pull a chair, and take your time to read the case studies on the fundamentals of a simple path to wealth.
Most 403b have been known to have very high administrative fees that can eat into your retirement balance. If you have access to 403b, please stop now, and join this facebook group 403bwise. You will find very helpful information about 403b in the group. You can also ask questions, and the very helpful members will assist you. I have seen people ask questions about switching plans, reducing fees, and having their employer change vendors, and so much more. They also have a great website filled with valuable information.
Listen to this great podcast episode on 403b. You will be happy you did.
Read this great article on how fees and expenses affect your investment portfolio.
Don’t forget to read about How to Avoid High Investment Fees.
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