Retirement fees
I am a retired teacher NOT from CPS and I have a portfolio of investments in mutual funds. I have noticed that for the last quarter, October thru December, I have been charged over $400.00 in administrative fees. I have not withdrawn any of this money nor contributed anything to the two accounts. With these fees, what am I paying for? Can these fees be reduced by consolidating some stocks and/or bonds in the two accounts? It seems like a lot of lost money.
Terry Says
WHO is managing this portfolio of funds? Did you move it to an advisory firm? They are required to tell you ALL fees, commissions, and fees that are internal to the funds themselves. ASK. And if it’s more than 1% –just move to Fidelity or Vanguard and make your own investment decisions in their low-cost funds. That will save you a lot of money over time!
