401(k) Plans, ETFs and You

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July 23, 2009 9:34am ETF BASIC NEWS

tomlydonTom Lydon, President, Global Trends Investments & ETF Trends, wrote a fantastic article yesterday that details some problems with your retirement options. Sadly, social security will most likely not be around for most of us, and many will need to rely on their retirement nest eggs when we hit our golden years. A large majority of working people contribute to an IRA or 401K plans, and are forced to make very


uneducated decisions as to what funds they place their hard earned money into. Tom wrote a very easy reading, eye opening, article on what’s broken, how you can help yourself, and how to push for more options with your retirement savings.

Here is just a snippet of his article:

“There are two primary issues at play when it comes to why 401(k)s are broken:

  • The fee disclosure is extremely poor. In a report for 60 Minutes this April, Rep. Miller held up a prospectus and challenged anyone to find the dozen or more fees that investors are socked with each year. Some of them are easily located; others are kept a mystery. And forget reading the prospectus – it’s a rare one that’s written in plain English. Hidden and buried fees have taken about $2 trillion from investors in the last year.
  • There’s a lack of good education out there for investors. Many people, when they get jobs and choose their 401(k) options, are deluged with choices. And those choices are mediocre at best, the 60 Minutes report said. Often investors with little or no expertise are being asked to make difficult choices about the very investments that could determine their futures.”

You can find Tom’s full story: HERE

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