Do you know how much it costs you on an annual basis to simply participate in an employer-sponsored 401k plan?
If you’re savvy, you probably already know that the mutual funds you select within your 401k plan have expense ratios. That number shows how much out of every dollar invested you give to the mutual fund company to manage the fund.
On average actively managed mutual funds cost around 1% of invested assets (or $100 for every $10,000 invested).
But if you think that is the only fee being charged to you, prepare for a shock.