Saturday, January 31, 2009

Rate Your 401k

401_2 In an effort to make 401k plans (and fees) more transparent, Brightscope has launched the country's first online 401k rating system.  RetirementPlanBlog describes the rating system here;  here's the Brightscope press release.  This is a very good thing -- fees have a huge impact on long-term investment performance, and it's too easy now for these fees to be buried in the fine print. 


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What a fantastic service, nicely designed reports as well. Someone needs to do this for Australia.

Posted by: Self Managed Super Fund | Feb 9, 2009 6:13:01 PM

I just cashed out a 401k plan that I invested correctly in for 8 years. I made money every quarter including this "blood-bath" of a year for most. The net results after taxes and penalties= I wasn't able to even recover my principle. The Government (who's mismanagement is forcing many to cash 401k out) has this program set up to only benefit one group (now obvious to me)the gentlemen on Wall Street.

If I could go back in time, I'd tell my boss to keep his 2.5% match, I would take my money home each week (with taxes already out) and put it in a 2% savings account. I would have made more.

The 401k system was instituted to "fix" the social security scam we're all forced to pay... and not it has turned into another scam.

When is it all going to stop

Posted by: Bradly Bowyer | Feb 12, 2009 1:08:31 PM

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