My Retirement Plan Charges 1.38% Is It Robbing Me of My Future? (Money Q&A)
Jun 2, 2025
Are high retirement plan fees stealing your future? Discover the impact of a 1.38% charge and learn savvy ways to cut costs. The hosts tackle burning questions on post-loan savings strategies, and whether to invest in a Roth 457(b) with a hefty fee. For new investors, there’s guidance on where to put $30K. Explore wealth-building tactics for military personnel and the best starts for your kids in financial literacy. Plus, tips on safeguarding personal information while planning for a secure retirement!
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volunteer_activism ADVICE
Prioritize Debt and Emergency Fund
Finish paying off high-interest personal loans before focusing on other savings goals.
Build a 3-6 month emergency fund and save for your car down payment concurrently, while preparing for student loan repayments.
volunteer_activism ADVICE
Kids' Investment Account Tips
Use a custodial brokerage account like UGMA or UTMA for kids to access savings at adulthood without penalties.
Invest in companies your child likes to spark interest and lesson in money and investing early.
volunteer_activism ADVICE
Strategy for High-Fee Roth 457(b)
Continue contributing to a Roth 457(b) despite high fees, as it offers no early withdrawal penalties.
Prioritize maxing out low-fee accounts like Roth IRAs and consider transferring 457 balances only after leaving the job.
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Your Roadmap to Financial Independence and a Rich Free Life
J L Collins
J.L. Collins' "The Simple Path to Wealth" provides a straightforward, easy-to-understand guide to achieving financial independence. The book emphasizes saving a significant portion of income, avoiding debt, and investing in low-cost index funds. It encourages readers to focus on long-term growth and avoid the complexities of market timing or active trading. The book's simple yet effective principles have resonated with millions of readers, making it a highly popular resource for those seeking financial freedom. It's a timeless guide that empowers readers to take control of their financial future.
In this episode of the Personal Finance Podcast, we are going to do a Money Q&A about my retirement plan charges 1.38%. Is it robbing me of my future?
Today we are going to answer these questions!
Question 1: What should my next steps be after paying off a personal loan—emergency fund, car savings, or student loans?
Question 2: What’s the best investment or savings account to open for my 5-year-old to start learning about money?
Question 3: Is it worth contributing to a Roth 457(b) with a 1.385% fee, or should I focus on low-cost accounts?
Question 4: I’m in the military maxing out TSP and Roth IRA—what else can I do to retire early? And how can my parents retire with $150K at age 55?
Question 5: I’m new to investing with $30K in cash—should I just dump it into an index fund, or do something more?
Question 6: We’re 48 and 49, saving aggressively with no debt—how do we ensure we hit our $1.5M retirement goal by age 55?
Question 7: We rolled over $35K into an IRA, have $125K in a 401(k), and big home equity—how do we build wealth and retire early in California?
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