on Feb 11th, 2008401(K) Nest Eggs Robbed At Fee Point By Greedy Mutual Funds
There was a time when people stuffed cash under their mattress, fearful that putting the money in the bank was a sure guaranty of losing it all. Some today would call that fear irrational, but after reading about a rogue banker who lost $7 billion and nobody at the bank knew it (supposedly), maybe the idea of hiding cash under the mattress is not so crazy.
Mutual fund managers have figured out a sneaky way to zap your 401(K) retirement funds: they slap you up side your account with ridiculous fees that eat away at your principle. You know, Congress should be regulating these clowns who profess to have your best interest at heart. Hahaha! Are you kidding! Most of those old farts are ready to bail once Bush leaves office. Honestly, who wants to suffer the mess they’ll leave behind. It’s like racking up $20,000 on a credit card without every intending to pay it back. Welcome to the New America…land of the broke.
High Fees on 401(K)s Rob Retirees of Nest Eggs
Gotcha Capitalism: How Hidden Fees Rip You Off Every Day