My Retirement Plan Charges 1.38% Is It Robbing Me of My Future? (Money Q&A)

The Personal Finance Podcast

Andrew Giancola

Entrepreneurship, Investing, Business

4.6 • 1.2K Ratings

🗓️ 2 June 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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? How Andrew Can Help You: Listen to The Business Show here. Don't let another year pass by without making significant strides toward your dreams. "Master Your Money Goals" is your pathway to a future where your aspirations are not just wishes but realities. Enroll now and make this year count! Join The Master Money Newsletter where you will become smarter with your money in 5 minutes or less per week Here! Learn to invest by joining Index Fund Pro! This is Andrew’s course teaching you how to invest! Watch The Master Money Youtube Channel! , Ask Andrew a question on Instagram or TikTok. Learn how to get out of Debt by joining our Free Course Leave Feedback or Episode Requests here. Car buying Calculator here Thanks to Our Amazing Sponsors for supporting The Personal Finance Podcast. Shopify: Shopify makes it so easy to sell. Sign up for a one-dollar-per-month trial period at shopify.com/pfp Chime: Start your credit journey with Chime. Sign-up takes only two minutes and doesn’t affect your credit score. Get started at chime.com/ Thanks to Fundrise for Sponsoring the show! Invest in real estate going to fundrise.com/pfp Thanks to Policy Genius for Sponsoring the show! Go to policygenius.com to get your free life insurance quote. Indeed: Start hiring NOW with a SEVENTY-FIVE DOLLAR SPONSORED JOB CREDIT to upgrade your job post at Indeed.com/personalfinance Shop Data Plans and Save Big at mintmobile.com/pfp Go to https://joindeleteme.com/PFP20/ for 20% off! Links Mentioned in This Episode: How to Pay No Taxes in Early Retirement, Debunking the Mortgage Fee Fiasco, and More! With Katie Gatti (From Money With Katie!) 10 Powerful Portfolio Strategies (And Which One is Right for You!) - Part 1 10 Powerful Portfolio Strategies (And Which One is Right for You!) - Part 2 The 1-3-6 Method For Building & Managing Your Emergency Fund Connect With Andrew on Social Media: Instagram TikTok Twitter Master Money Website Master Money Youtube Channel Free Guides: The Stairway to Wealth: The Order of Operations for your Money How to Negotiate Your Salary The 75 Day Money Challenge Get out Of Debt Fast Take the Money Personality Quiz Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I'm making a robot head with an Amazon box.
0:03.0	I've painted it silver and Daddy helped me make it.
0:05.0	At Amazon, we're actually using paper bags for more of our deliveries.
0:08.0	And now I'm making a paper hot air balloon
0:11.0	and I even made a little brown basket
0:13.0	and I'm making a dog that looks just like Monty.
0:16.0	Just one of the ways we've reduced the weight of our packaging by more than 40% since 2015,
0:20.0	which is still good for playtime.
0:22.6	Mom, where's the scissors? To learn more, visit about amazon.com.com.com
0:28.3	sustainability. Adobe Express is the quick and easy create-anything app. It's a game
0:36.3	changer for my business, my go-to for creating content.
0:39.3	From social posts to images, videos, flyers, whatever I need to stand out.
0:45.3	With customizable templates and smart features, it saved me endless hours.
0:50.3	And the best bit, it's free.
0:53.3	Search for Adobe Express to find out more and get started today. And the best bit, it's free.
0:57.8	Search for Adobe Express to find out more and get started today.
1:06.2	On this episode of the Personal Finance podcast, my retirement plan charges 1.38%. Is it robbing me of my future?
1:25.8	Music Is it robbing me of my future? What's up, everybody, and welcome to the personal finance podcast.
1:30.6	I'm your host, Andrew founder of MasterMoney.com.
1:33.7	And today on the Personal Finance Podcast, we're going to be diving into your questions on this episode of Money Q&A.
1:40.9	If you want to submit your question, make sure you join the Master Money newsletter
1:44.7	by going to Mastermoney.com slash newsletter. And there you can send in your question and you could
	...

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