ODFL | 401 k -- new fees

[Freight Guru]

Just got an email from "Empower." Their title must be directed at themselves...

Now charging us $60.00 per year on SELF directed accounts. WTF? Quit taking my retirement funds...I might need those someday.

 

[Grumpy O' Man]

Just got an email from "Empower." Their title must be directed at themselves...

Now charging us $60.00 per year on SELF directed accounts. WTF? Quit taking my retirement funds...I might need those someday.

That is only if they are managing it.They find anyway to make a $.

 

[dough boy]

That is only if they are managing it.They find anyway to make a $.

I think your wrong on this Kenneth. Those fees apply to self directed accounts. Meaning you manage the money moving in and out of stocks and bonds and other investments. If you have them manage it and elect to spread your money thru preselected funds then this fee doesn't apply to you.

 

[Grumpy O' Man]

I think your wrong on this Kenneth. Those fees apply to self directed accounts. Meaning you manage the money moving in and out of stocks and bonds and other investments. If you have them manage it and elect to spread your money thru preselected funds then this fee doesn't apply to you.

Well,maybe I read wrong from the email.I have mine managed thru them.Thought it was applying to my deal.Went back and looked again.Oop's mis understood Email.Sorry

 

[bigbird42368]

so, if you do it yourself or let them do it either way you popped with $60.00 ?????

 

[DayliteDean]

No it's for the DIY's, If they're managing your account they're already taking a fee. A little known fact about your 401k is that virtually every thing you invest in within the the plan has management fees associated with it anywhere from 1/4 of 1% to to a whopping 5%! sometimes it's compounded. It really can pay for you to read the prospectus that you probably just throw in the trash when it comes in the mail, there's some major sticker shock coming your way when you retire and see what's there. Not that you shouldn't be investing in the 401k but there's some expensive pitfalls built in if you aren't paying attention.