PART 3 OF 3: Money Expenses To Create The Retirement Of Your Dreams

Have you wondered how much money you lose to hidden retirement account fees?

Did you know a simple shift in your investment strategy could save you hundreds of thousands of dollars in taxes ... during your retirement?

Have you ever thought about whether your current retirement plan ... aligns with the changing landscape of work and pensions?

Hey there! I'm Jason Bergquist, the owner and founder of RetirementOfYourDreams.com.

Today, we're starting with ...

1. Why It's Important to Know the Fees On Each of Your Investment Vehicles
2. Why You Need to Understand the Future Opportunity Cost
3. A Real-Life Example with Jim and Heather

Click HERE if you missed Part 1 or Click HERE for Part 2 ...

Let's talk about why it's important to know the fees on your investments.

We often discuss employer plans like the 401k, 401a, 403b, 457, and TSP.

Do you know their fees?

Try looking it up!

It might seem a bit tricky, but we need to know all the fees.

Hidden fees in employer plans can be confusing. Like I explained in parts one and two, understanding your options is crucial.

I guide every client through something called the Money Expense Exercise.

It helps you figure out what to do with your 401k or employer-sponsored plan.

How do you get the best value?

What expenses are there?

Are you getting the full match?

Should you be putting in more?

We can also explore if you have your personal IRA or Roth IRA. Where do you manage it?

Are you doing it through a company like Vanguard, which has the cheapest fees?

If you have money in a brokerage account, what are those fees?

How much are they charging?

What about Mutual Funds?

Mutual funds often have the highest management fees of any investing option. We always have fees, but we want to find the best ones—fees worth it.

Remember, paying fees reduces what goes into your investment. And these fees will affect how much you can earn in the future.

So, let's figure out what these fees are and where they are.

Let's talk about when the fee is more than the benefit.

Remember, fees reduce the money that goes into our investment.

Here's an example:

I worked with someone named Bill.

We moved his money out of his 401k because we found a better option with fewer fees and more money going in.

With the personal plan, we knew exactly what we could control ...

... like when taxes were due and what the tax implications were.

Bill had a pension coming in the future, so we could do little to avoid taxes.

But we explored options. We could pull some funds out, pay taxes today, or get a tax benefit by doing a Roth conversion.

Bill worried about inevitable taxes, but we found a plan for his future that eased those concerns.

Now, the question is, do you want to be like Bill, hoping you made the best choice, or do you want something different?
Let's explore options to help you pay fewer taxes now.

Is it even possible to get into that 0% tax bracket in your retirement?

It's worth considering.

Making this shift takes some work, but that's what we're here for to guide you step by step.

Putting money into your 401k at work is easy.

It's automatic.

Someone recently told me they don't even have to think about it ...

... the money gets deducted from their paycheck.

Yes, it's true, and we'll use that plan to help you.

But, shifting mentally is harder than contributing to your employer plan. That's why having a Retirement Of Your Dreams expert on your side is crucial.

We helped Jim and Heather make changes, which required some mental effort.

They had to sit down.

Understand things better.

Be diligent.

Make contributions and set up different accounts.

If you believe that putting away a percentage of your income and having it matched will always work ...

... you might be mistaken.

Plans change, and we need to adapt.

As you head into retirement ...

... consider talking to your kids and grandkids about shifting this mindset.

The younger generation doesn't view retirement the same way.

The idea of working for one company ...
... for decades and retiring with a plan, social security, and a pension is evolving!

We need to help the younger generation understand these changes.

1. Knowing Your Investment Fees
2. Understanding Future Opportunity Costs
3. The Jim and Heather Case Study.

If you missed Parts 1 and 2, find the links above!

Now that you understand how fees impact your retirement, I invite you to gain more insights.

This video concludes the Money Expenses series ...

Stay tuned for more valuable insights next week.

Thank you for considering Retirement of Your Dreams as your partner on your financial journey!
What was your BIGGEST takeaway from this week's video?

Please scroll down and let me know in the comment section below!

I'm Jason Bergquist, empowering you to create the Retirement Of Your Dreams!