When Your 401k Reaches This Number, Fees Could Start Adding Up Big Time

There's no denying that 401(k) plans are great tools for saving for retirement. They allow you to contribute pre-tax funds each month — money you're unlikely to miss — but can grow significantly over time. As an added perk, many employers also offer matching contributions, which can help boost your savings even further. However, like all good things, your 401(k) savings reach

The  Fees can range from as low as In some cases, there may be involved if, for example, you need to withdraw money early from your 401(k). While paying fees is inevitable, the real problem is that many people underestimate just how much these fees can impact their overall account balances. Even worse, some don't even know they're being charged at all. A 2024 study by the U.S. Government Accountability Office, on the

Over time, 401(k) fees can have a significant impact on your overall returns.  A report from the U.S. Department of Labor and the Employee Benefits Security Administration warns that a 28% reduction in the overall account balance.  

So what should you do if your 401(k) balance has reached $50,000 and you want to take steps to lower your fees? making a switch. (Of course, it's important to consider your 401(k) rate of return to see if it makes sense.) Also, . T