Do you know the total fees you're paying in your 401k?

One study found the average cost per year for a participant was 2.2% of their account balance.

Stay wealthy community. How are you? Thank you as always for tuning in.

I've got a great show for you today. It's a topic that comes up just about every week

for us, it seems like, every phone call, every meeting we have. This question comes up about 401ks

and more specifically what to do with these old 401ks. Really quick, a 401k is just a type of

retirement plan offered by your employer. And as you might know, you

usually have two options when contributing to a 401k. You've got the traditional option or

the Roth option. So when you sign up, you're faced with these two options. We did a whole

podcast episode on this and how to choose traditional or Roth when you're contributing to one

of these 401K. So if you haven't yet, go back and check that out. It's episode 24. You can just go to

Stay wealthy san diego.com slash 24 or pull it up in your podcast app and go find the episode. But

we dive into some of the really good details there and talk about what you might think

about when choosing traditional or Roth.

Sometimes employers will offer a match for your 401K contributions and sometimes they don't.

Either way, I just want to say that you should be taking advantage of this savings vehicle

if you aren't already. Sometimes we hear people say, oh, my employer doesn't offer a match,

so I don't contribute. The match is great. It's icing on the cake, but this is a really good

savings vehicle. So make sure you're taking advantage of the 401k offered by your employer,

even if they don't match.

So with that out of the way, we've all worked for a company that's offered a 401K that we've participated in.

Maybe we've worked for multiple companies that have offered 401Ks.

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