Jim Hitt is tired of watching investors lose their hard earned money to IRA providers who over charge them. This blog is meant to educate the public so that they understand what they can do to reduce their retirement plan expenses.
Charlotte, NC (PRWEB) July 14, 2014
American IRA recently released a new blog "How to Minimize Retirement Plan Expenses by Using Self-Directed IRAs".
Jim Hitt is passionate about Self-Directed IRAs and is also an investor. It is the investor in Jim that has inspired this blog. Jim is tired of watching investors lose their hard earned money to IRA providers who over charge them. This blog is meant to educate the public so that they understand what they can do to reduce their retirement plan expenses.
Compound interest is the investor’s best friend. This is true. But it’s not just returns that compound: Investment expenses, in typical non-Self-Directed IRAs or other conventional retirement account also compound over time. And these compounding costs can be a very nasty enemy as far as long-term returns are concerned.
For example, a recent study, published by the Center for American Progress, calculated that investment and other fees of just 1 percent per year – an amount commonly reached in 401(k) plans, especially at smaller companies – average out to as much as $70,000 in costs over the average workers’ working career. For many middle class families, $70,000 is at least a year's salary. Is it fair that their retirement plan gets over a years worth of their money?
Click here to read the entire blog. A must for anyone who is paying retirement plan expenses.
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