Monday, March 9, 2009

Money in the bank

Some interesting tidbits to consider...

· If you invest $20k in your 401k that earns 6.5%/year for 20 years, you’ll have $70,500 if the annual expenses are .5%; but you’ll only have $58,400 if annual expenses are 1.5%.

· Only about half of American workers have a retirement account.

· Only 66% of workers join their 401k, and only 10% contribute the max.

· The average 401k account balance of near retirees has fallen more than 20% (their accounts were too stock-heavy, considering their age – not conservative enough).

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