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Why are 401k platforms so far behind other retirement plans?
Posted on 7/28/16 at 4:14 pm
Posted on 7/28/16 at 4:14 pm
The other thread had me take a quick look, and dang my head hurts just from 5 minutes of trying to log in, find what miserably few options I have, and then geez opening up the specific fund and analyzing them is a completely horrible experience.
Schwab that I use for my Roth and SEP-IRA is infinitely better, but yet 401ks probably have much more users on an exponential scale. I actually enjoy checking on my Schwab investments.
How has someone not come in and completely revitalized the 401k market? Its well past time?
How is it that I have like 10 investment options now with my 401k but almost infinite with my SEP? I feel like if they made it more user friendly more people would contribute more of their money, and gasp they would make more.
Schwab that I use for my Roth and SEP-IRA is infinitely better, but yet 401ks probably have much more users on an exponential scale. I actually enjoy checking on my Schwab investments.
How has someone not come in and completely revitalized the 401k market? Its well past time?
How is it that I have like 10 investment options now with my 401k but almost infinite with my SEP? I feel like if they made it more user friendly more people would contribute more of their money, and gasp they would make more.
This post was edited on 7/28/16 at 4:16 pm
4
Posted on 7/28/16 at 4:25 pm to baldona
its pretty simple, companies get kickbacks for having shitty high fee funds.
My fidelity interface is easy to use, but the funds not so great.
My fidelity interface is easy to use, but the funds not so great.
Posted on 7/29/16 at 9:39 am to baldona
I am pretty ignorant on this stuff, so I just looked.
My company uses fidelity and when I started my 401k contributions, I just threw it to the Vanguard target retirement fund. It has a gross expense ratio of 0.06%.
My company uses fidelity and when I started my 401k contributions, I just threw it to the Vanguard target retirement fund. It has a gross expense ratio of 0.06%.
Posted on 7/29/16 at 10:49 am to baldona
quote:
The other thread had me take a quick look, and dang my head hurts just from 5 minutes of trying to log in, find what miserably few options I have, and then geez opening up the specific fund and analyzing them is a completely horrible experience.
Schwab that I use for my Roth and SEP-IRA is infinitely better, but yet 401ks probably have much more users on an exponential scale. I actually enjoy checking on my Schwab investments.
My company had the wisdom and foresight to use Vanguard. No complaints.
Posted on 7/29/16 at 2:15 pm to baldona
I'm not sure how 401K's work, but on my SIMPLE IRA, the employees can choose to go anywhere they want. IIRC, I had thought the advisor that does this for me said that's by law.
We don't encourage them to do this, becuase it creates more work, but we let them know they have this option.
We don't encourage them to do this, becuase it creates more work, but we let them know they have this option.
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