20 Retirement Planning Mistakes That Waste Your Money

Paying High Retirement Account Fees

Be aware of how much you’re paying in investment fees, including 401k fees. In 2014, the Center for American Progress estimated that a typical worker who starts saving at age 25, earns $30,502 and pays a 1 percent investment fee will end up spending nearly $140,000 in fees over his lifetime. A high-income worker making $75,000 at 25 years old will pay more than $340,000 in investment fees.