By: Laura Walton AFC®
A speech by Janet Yellen motivated NPR’s Chris Arnold to start a listener driven series “Your Money and Your Life”. Chris heard her say that half of American families with children have nothing…nothing…saved for retirement. Chris was inspired to create a series featuring actionable information to help people start to save and invest. So actionable, in fact, that for the first time, NPR is inviting listeners to join a Facebook group at npr.org/moneyandlife.
Monday’s topic was “Is Wall Street Eating Your 401k Nest Egg?” It absolutely reflected the views of the TCI Foundation and, if you’ve attended our Investing Series, echoes what we teach. In it, they ask a professional to review a company’s 401k plan who determines it ranks somewhere between “bad and ugly” much to the chagrin of the well-intentioned owners. Although the financial person representing the plan described its fees as competitive, they were able to lower their fees by 68% through another plan provider.
I’ll keep this short so that you can tune into Chris Arnold’s “Your Money and Your Life” – you’ll enjoy it.