401K Fees Finally Being Scrutinized by Individual Investors
The Larger and more Important Question Goes Unasked
Detroit, Michigan USA- The recent Frontline report of retirement plans and their failure have investors looking at their retirement plans closer than ever before. Other recent financial articles are also echoing Frontline’s story and asking how much do you pay in fees to your 401k plan administrator and what do you get for your money.
The more important question that is rarely asked is if people should be putting money into their 401K or other qualified plans, regardless of fees. Most people don’t take the time to understand what these plans really offer and what restrictions are put upon them. The average investor fails to understand all the rules especially the ones that limit their control of the account and access to the funds.
This is usually not an issue for the investor to ever think about until they are made aware that they do have different alternatives to the 401K and mutual fund financial playbook. When they inquire about restructuring their strategy or accessing their capital they are usually blown away with who has all the control of their money. “This happens with about 70% of my clients” says John Jamieson of Perpetual Wealth Systems.
Jamieson says that when he shows families alternatives they have with their money they usually become excited and then many become disenchanted with their retirement plan when they reach out to see about accessing their funds. “Between tax and penalty issues and strict guidelines set up by the government the investor starts to realize they have given up control of their financial life to someone else” says Jamieson.
He says there are many alternatives to the standard 401K mutual fund route but people have to take the time to research if that 401K or IRA is the proper play for their family’s future. There is a free website where people can begin their search for other options for their money and their future. That site is www.theperpetualwealthsystem.com and it has free videos and trainings for anyone who is looking for financial answers and options.
- Contact Information
- John Jamieson
- Perpetual Wealth Systems
- (1) 586 944 0794
- Contact via E-mail
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