Is My 401(k) Too Expensive?
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 22 October 2019
⏱️ 10 minutes
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Summary
What happens if your 401(k) is full of insanely high fees? Is there a better alternative? Can a case be made to not use the plan altogether? That's the discussion with Ross from Boston.
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Transcript
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| 0:00.0 | Welcome to the Jill On Money Call of the Week. We are presented by Marcus by Goldman Sachs. |
| 0:09.3 | This is your opportunity to get your burning questions answered. It can be anything that is |
| 0:16.3 | remotely associated with a dollar. Maybe you're comparing a couple of different job |
| 0:20.8 | offers. Maybe you've got a tax question. Maybe it's an investment |
| 0:24.4 | question. We don't care. We just want to help you out. Got nothing to sell |
| 0:28.5 | just to give you the straight up answers that you need. All right, wait a minute, I do want to sell something. |
| 0:33.5 | I want to sell my book, but that's separate issue. |
| 0:36.0 | You can send us an email. |
| 0:37.0 | Ask Jill at Jill on Money. |
| 0:39.0 | Ask Jill at Jill on Money. |
| 0:42.0 | That is what Ross did Ross is on the line he's calling from |
| 0:46.1 | Boston hello Ross are you excited about your Patriots this season so far I am |
| 0:52.0 | how are you this morning Jill I great. I'm a Jets fan and whatever. The season's over. So what can I do for you financially? So I have a question about my 401k. |
| 1:03.4 | It seems like the expense ratio that the 401k in my company |
| 1:08.2 | is rather high compared to a lot of other balanced funds. |
| 1:11.6 | And I'm concerned that I'm going to be leaving money on the table if I leave |
| 1:14.8 | the money in that particular fund. |
| 1:16.8 | Interesting. |
| 1:17.8 | Before we do the 401k breakdown let's just do some fast facts about Ross. So how old are you? I'm 36 and are you single married |
| 1:26.9 | married? Married with two young children okay how old are the kids? Five and two. Great. |
| 1:33.4 | And Ross, you are maxing out your 401k? |
| 1:37.2 | I am maxing out my daycare payments. |
... |
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