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Fees for managing 401k account

Posted on 3/2/15 at 11:18 am
Posted by Coach Guidry
Member since Nov 2007
2333 posts
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.

Posted by cuyahoga tiger
NE Ohio via Tangipahoa
Member since Nov 2011
5828 posts
Posted on 3/2/15 at 11:37 am to
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 by makersmark1
earth
Member since Oct 2011
15749 posts
Posted on 3/2/15 at 1:47 pm to
.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.
Posted by Iosh
Bureau of Interstellar Immigration
Member since Dec 2012
18941 posts
Posted on 3/2/15 at 2:02 pm to
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!

Posted by Coach Guidry
Member since Nov 2007
2333 posts
Posted on 3/2/15 at 2:17 pm to
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.
Posted by LSUGUMBO
Shreveport, LA
Member since Sep 2005
8492 posts
Posted on 3/2/15 at 2:25 pm to
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 by Coach Guidry
Member since Nov 2007
2333 posts
Posted on 3/2/15 at 2:29 pm to
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 by TheHiddenFlask
The Welsh red light district
Member since Jul 2008
18384 posts
Posted on 3/2/15 at 2:39 pm to
2.25% is hedge fund level for fees. That's just painful.
Posted by iknowmorethanyou
Paydirt
Member since Jul 2007
6545 posts
Posted on 3/2/15 at 3:54 pm to
He should just fund a Traditional IRA instead, Coach. Many more options than the few funds he's limited to in the 401K.
Posted by player711
Member since Jun 2006
285 posts
Posted on 3/2/15 at 8:44 pm to
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.
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