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What Fees Are Part of Your 401(k) Plan?

A 401k plan generally involves four parties: the contributing employees, the sponsoring employer, a plan administrator, and various investment advisors.

A 401k plan aims to grow employees’ contributions through investments for retirement.  To better manage a plan’s ongoing operation, once the plan has been set up by the employer for employee participation, the employer will usually appoint a plan administrator to take care of the plan with tasks such as recording keeping and accounting, providing customer service, giving educational seminars, etc…

But the actual investment of the plan contributions are managed by a group of investment companies, such as mutual fund brokerages (Vanguard, Fidelity, and ShareBuilder are a few), that the plan administrator has contracted with.

There are two major 401k fees in connection with plan administration and investment management.
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How to Save Money – 2 Simple Steps Everyone Can Take

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Credit CARD Act and Its Affect on College Students

According to a 2009 study by Sallie Mae, the average credit card balance for college students was $3,173.

Only 15% of college freshman surveyed had a zero balance.

Of overall students, 82% carried a balance and had monthly interest charges.  The Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 put new rules in place to help consumers better understand their credit cards and cut down on unfair practices from credit card companies.  Of those rules, there are some that college students should be especially aware of.
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ZYNC Card From American Express – Review

Zync Card from American Express

Zync Card from American ExpressHave you seen the commercials for the ZYNC Card from American Express?

I’ve got to say, I was curious about the card when I heard about how you can tailor the card to fit your lifestyle.  As an American Express card user, and fan, I had to look into the Zync card further.

Here’s what I found out about the ZYNC Card: Continue Reading

Schumer Box And Credit Card Offers

Ever hear of the Schumer Box? It’s actually an important piece of information that you will find in a credit card application and something you need to be aware of when considering a credit card.
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My First Credit Card – And The High It Gave Me

It’s been many moons but I remember my first credit card. It was a retail card for A&S (remember that store?).  I forget what I was buying (a sweater maybe?) but there was a discount offered if you signed up for their card.  “What they hey,” I thought.  Why not sign up and see what happens?  So I did.  And a few minutes later I was the proud owner of a new credit card!  Ahh, memories.
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What To Do With Your Money In Your 20s, 30s, And 40s – Ideas From Generation Earn

Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back

Most of us don’t move through life in pre-determined stages, but there are still some generalizations we can make about money and age. These ideas for what to do with your money in your 20s, 30s, and 40s come from my new book, Generation Earn: The Young Professional’s Guide to Spending, Investing, and Giving Back, which was just published by Ten Speed Press.

In your 20′s:

Invest in your career. Your career is the one place where it makes sense to splurge.  This might mean investing in the services of a career coach, or taking a leadership development class.  It could mean something as seemingly superficial as working with a personal shopper to make sure your wardrobe helps you look and feel good at work.  Or perhaps purchasing some guide books about your chosen field.  Investing in your career now, when you have time, can pay off hugely later.
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