According to a recent survey, more than 70% of participants in 401(k) retirement plans think they pay no fees on their accounts. Less than a quarter got the answer right, acknowledging that they do, in fact, pay fees.
It’s enough to drive true-blue Vanguard investors to despair. But before we give up entirely on our fellow investors, I’d like to suggest that there are some important issues here at play.
I hate buying cars. Even though I’ve had the good fortune to not have it be a frequent experience, when the time comes for another car, I cringe at the prospect.
The worst was when a car dealer wouldn’t give me back my license after a test drive because he was so anxious to make a sale. It’s so bad that I’ve delegated the process to my husband for the last two purchases. Here’s our deal: he gets the thrill of the hunt and I lose the right to lodge any complaints. So far, so good.
My brother-in-law will be graduating from college in a few days, and that has me thinking back to when I started my career a few years ago.
As I set out on my own, I had many questions about finances: How much should I spend on rent? Should I have a roommate? What car should I buy, and how I will afford to keep gas in the tank? (And, of course, how many pairs of shoes can I afford?)
Many of us—myself included—recently received alerts from banks and major retailers notifying us that our names and e-mail addresses had been “hacked” as a result of an attack on a third-party service used by these businesses to handle e-mail distribution. (Vanguard was not one of the companies affected.)
I wasn’t happy when I was informed, of course, but at least I’m not helpless. And neither are you.
This time of year we are flooded with reminders, checklists, and predictions. Many are useful, but some are merely entertaining.
While there are many items related to your financial health that deserve attention at the beginning of the year, this might be a good time to order your annual free credit report.
