3 Hidden Fees Eating Away at Your 403b Balance (Listicle)

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Most 403b holders have no idea they're losing thousands to fees that barely show up on their statements 💸

After two decades of reviewing retirement accounts, I've seen the same three charges quietly drain balances year after year. And for some accounts, these fees can add up to over 2% annually.

The first hit comes from administrative and recordkeeping costs. They sound minor, but on a $100,000 balance, you're looking at $250 to $500 disappearing every year just to keep the plan running.

Then there's the investment expense ratio. This one varies dramatically depending on what you're invested in. Index funds might charge around 0.12%, but actively managed options can hit 0.65% or higher. Over 30 years, that difference alone can strip away 15% of your retirement savings.

The third fee is the one that really catches people off guard: mortality and expense charges on annuities. These M&E fees can run anywhere from 0.50% to 1.25% annually. And if you decide to move your money? Surrender charges in the first year can hit you with a 7% penalty.

Every dollar you pay in fees is a dollar that can't grow for your future. Knowing where your money is going is the first step to keeping more of it.

Securities and investment advisory services offered through World Equity Group, Inc., member FINRA and SIPC, a Registered Investment Adviser. World Equity Group, Inc. is licensed to conduct securities and investment advisory business in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

World Equity Group is a financial advisor serving 55-65 pre-retirees looking to consolidate accounts, retire, and create an income plan.

#RetirementPlanning #403b #FinancialPlanning #InvestmentFees #PreRetirement #shorts

Видео 3 Hidden Fees Eating Away at Your 403b Balance (Listicle) канала Todd Rollins, CFP®