The Personal Finance Podcast 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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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.
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.
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.
