It’s an eye-opening investigation of a financial services industry that may be draining your retirement savings with every passing year. What we found will surprise you:
- Over the course of a lifetime, a seemingly low annual fee of 2 percent can reduce what your 401(k) balance would have been by more than 60 percent—potentially adding years to your working life;
- On any given street, one household may be paying 10 times as much to invest in a 401(k) as the household next door; and
- Many financial advisers are not actually required to provide advice that is in your best interest.