Archive - June 28, 2009

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Watch Out For These Hidden 401k Fees
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5 Tips for Raising Money Smart Kids

Watch Out For These Hidden 401k Fees

I recently came across this article in WSJ that brought out some of the more interesting reasons that the 401(k) Fee Disclosure legislation is important…  There are two bills under review, one in the House (HR 1984) and one in the Senate (S 401), which aim to improve disclosure of fees within 401(k) plans.  These two bills also address the issue of the qualities that are appropriate for folks who are providing advice to plan participants.  A brief summary of the WSJ article follows:

It should not come as a shock that there are certain costs involved in maintaining a

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5 Tips for Raising Money Smart Kids

  1. Remember that experience is better than lecturing.  When your kids are ready to learn about money, start letting them make some financial decisions.  It might be as basic as choosing between an ice cream treat and a soda, but let them decide and let them know it’s about deciding what to get, not getting everything they want.
  2. Start younger than you think you should.  Many kids in pre-school can make the ice cream vs soda decision.  Elementary school kids can have an allowance that let’s them buy some things that you used to buy for them.  In late middle school
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