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Fees for managing 401k account
Posted on 3/2/15 at 11:18 am
Posted on 3/2/15 at 11:18 am
What are reasonable fees these days? I have a nephew who through work is involved with VOYA. He can either manage his own, or the annual fee is 0.28 of the balance.
My personal stuff is handled through me, so I have not looked into "fees" in many years.
My personal stuff is handled through me, so I have not looked into "fees" in many years.
Posted on 3/2/15 at 11:37 am to Coach Guidry
Coach, our IRA administrator(UBS) thru work charges us/me 1.25% yearly. Although I can buy/sell stocks as often as I like.
Posted on 3/2/15 at 1:47 pm to Coach Guidry
.28% is not bad. 28 dollars per 10000 invested.
TSP for military has incredibly low fees.
I think it is .04% which is 4 dollars per 10,000.
TSP for military has incredibly low fees.
I think it is .04% which is 4 dollars per 10,000.
Posted on 3/2/15 at 2:02 pm to Coach Guidry
I always get depressed by threads like these because my job is letting someone's freeloading cousin manage the 401k:
No index funds of course!
No index funds of course!
Posted on 3/2/15 at 2:17 pm to Iosh
Hes got around 900 bucks in there. Hes putting 2% of his check, no match.
It comes out to roughly 120.00 a month...good start for a young kid.
So im guessing its worth it to let them handle it.
It comes out to roughly 120.00 a month...good start for a young kid.
So im guessing its worth it to let them handle it.
Posted on 3/2/15 at 2:25 pm to Iosh
I recently was told about a fund through my current investor for 2.25% annual fee (but it's broken up into quarters to "ease the blow"- I initially thought that was high, but this definitely confirms my assumption. I plan on asking what exactly I would get for that 2.25% just to see what B.S. they can come up with.
Posted on 3/2/15 at 2:29 pm to LSUGUMBO
quote:
plan on asking what exactly I would get for that 2.25%
Like I said...I have not looked a fees in years. But looking it at now...that seems high. Are they making you some serious money???
Posted on 3/2/15 at 2:39 pm to Coach Guidry
2.25% is hedge fund level for fees. That's just painful.
Posted on 3/2/15 at 3:54 pm to Coach Guidry
He should just fund a Traditional IRA instead, Coach. Many more options than the few funds he's limited to in the 401K.
Posted on 3/2/15 at 8:44 pm to iknowmorethanyou
The typical fees for mutual fund and 401k's is a conservative 2.5% per year.
I recommend you google an article by Forbes magazine titled-the true cost of owning a mutual fund.
I recommend you google an article by Forbes magazine titled-the true cost of owning a mutual fund.
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