Elderly Targeted for Fraud

A recent article in the local newspaper heightened my understanding that as the Baby Boom generation enters their retirement years, it's becoming more evident of fraudulent activity.  First of all, shame on the person taking advantage of an elderly person who has lived their life and is now dependant upon people for care as well as health matters.  These thieves are crafty in their tactics of intimidating the elderly whereby faking a call from the Social Security office or IRS.  One family received phone calls from a nurse at the nursing home where a relative was under their care....needless to say, this person was fired and no doubt served some jail time. Whatever the reason for the contact, it is important to be vigilent.  For some elderly, they screen their calls through the answering machine.  For others, they demand a letter in writing.  For many, they may have e-mail but are not likely to use it much.  One elderly person's e-mail address was stolen and used fraudulently for moneymaking purposes.  Luckily the telecommunicaitons company addressed the situation before it got out of hand.  In this modern era of smartphones, electronic items and texting, it is important to be kind to the elderly, facilitate the details when it comes to financial matters, and to look out for their financial well-being as well as overall well-being.

Stock Market Volatility

Portfolio managers are challenged increasingly with volatility in the stock market.  Tried and true methods of buying and holding while the stock goes up remains a popular method of investment management.  However, given the internet and the overwhelming ability to gain access to market research, timely trades and online investing, it's a whole new market environment that forces many managers to finetune their gamesmanship.  Conservative mutual funds tend to invest in technology, energy, consumer discretionary and financials especially when the 200 day moving average line is in an upward slope.  To hedge any downside risk, many park it in defensive holds such as utilities, consumer staples and health care. 

For the individual, it's either invest in a mutual fund, hire a financial advisor and/or get an asset manager to grow your portfolio.  As the US savings rate declines, many individuals are relying on their company's 401k plans to help them with these decisions.  That lends to more risk should you be at a company similar to Enron regarding your life savings.  Fewer individuals take active interest in their financials because they are too busy to invest their time into understanding it all.

While gamesmanship and market volatility is a current issue for many, I admit that Mr. Market always comes back with a different story each day.  Question is how do you manage yourself as well as your finances given these environmental changes?

VA Benefits

Below is interesting information that has been posted about VA Benefits.  While I can't confirm the details presented below, I blog about this information to assist those seeking information.  There appears to be a lot of red tape preventing people from getting a direct, sensible answer.  I pray that what I've shared below will illuminate some sketchy details to help many get the benefit that they so deserve.  I will continue to do financial research about this and as always, wish you the best.  Thank you for your service to our country.   ~Alfa Sugar, aka Stephanie Arredondo

Disability Pay
This blogger writes: unless you hit 20 Years you cant have both. Personally I would go with the VA $ since its tax free, well, that and I have a wife and 5 kids and will probably get 70%...Much better than 30% of E-6 Pay..But I have not been able to actually find that written anywhere in an instruction...so if anyone knows...

One blogger writes:  If you receive Military retirement at say at 30% or greater you will receive a medical retirement at 50% base pay.  If the VA rates you at 90% that means your 50% military retirement is non-taxable and you will receive compensation from the VA @40%.  

Another blogger writes the following:
If you are medically retired from the Army, you will only receive one check from the two departments, the check with the higher amount. You do not have the option of choosing which one. However, if at any point your condition worsens and your pay from one authority or the other is raised to a higher level than whichever is paying you at that time, the higher paying authority will take over your payments. Bottom-line, you will only get one check and while you have no say, it will always be the higher amount.

One of the differences between the VA and the Army, outside of the payment, is that the VA will pay 100% of your medical expenses for at-home equipment (home adaptive equipment, sleep apnea machines) whereas TriCare will usually pay for 90%, so a rating from both authorities is a good thing.

Disability Compensation
Chris Attik wrote this article that may be of interest  VA Benefit

Property Tax for Residents of Virginia
Sherri Abrams wrote this article for those disabled veterans living in the state of Virginia.
Disabled Veterans Real Property Tax ReliefJuly 9th, 2011

Effective January 1, 2011 a new law was imposed by the Commonwealth of Virginia allowing a 100% real estate tax exemption for qualifying disabled armed forces veterans and their spouses.
Pursuant to Article X, Section 6-A of the Constitution of Virginia, the General Assembly exempted from taxation the real property, including the joint real property of husband and wife, of any Veteran who has been approved by the U.S. Department of Veterans Affairs to have a 100% service-connected, permanent and total disability, and who occupies the real property as his/her primary place of residence.

The surviving spouse of a Veteran eligible for the exemption shall also qualify for the exemption, so long as the death of the Veteran occurred on or after January 1, 2011, the surviving spouse does not remarry and the surviving spouse continues to occupy the real property as his/her primary place of residence.

In order to receive this benefit the veteran is required to have a letter of disability from the U.S. Department of Veterans Affairs (1-800-827-1000). The letter will have specific wording that is required by the Commonwealth of Virginia for this exemption. The letter will NOT be automatically provided to the veteran, he or she must request this letter. Virginia Form 21-4138 may be filled out and signed in the Commissioner of Revenue’s office and faxed to the Veterans Affairs office to request the letter on your behalf.

The regional U. S. Dept. of Veterans Affairs office is located at 210 Franklin Road SW, Roanoke, Va. 24011.

When applying with the Commissioner of the Revenue for this exemption the veteran must bring:
1. An original letter of disability issued by the U. S. Department of Veterans Affairs
2. Photo Identification
3. Proof of residence of occupancy – Voter Registration Card

Surviving spouse should bring:
1. Approved and original letter of disability issued by the U. S. Dept. of Veterans Affairs (in the event the veteran was not previously exempted from local real estate taxes)
2. Death certificate to confirm the date is subsequent to December 31, 2010
3. A certificate of marriage from the appropriate State office of records
4. Proof of residence occupancy – Voter Registration Card

The above real estate information may shed light on your current state's residence property tax for veterans. 

All information presented is strictly for information purposes.  You are encouraged to conduct your research, contact a professional or seek guidance. 

Social Security to pay 3.6% Increase while increasing tax on workers

Inflation is on the rise as is confirmed with the COLA computation that the Social Security Administration utilizes for assessing cost of living measures.  A 3.6 % increase will commence in January 2012.  For the 55 million benefiting from these payments, it will help but not as much as many hope.  The monthly payments will now average $1,221. 

This is the first increase in a few years since 2010 and 2011 saw little to no inflation. 

The average worker is seeing an increase in wages earned.  Over 10 million workers will pay higher taxes as a direct result.  Higher wages and higher taxes means few are getting ahead.  Regarding the the limit as to who pays the Social Security Tax, it is being raised from up $106,800 earned to $110,100 next year (2012) at a 6.2% rate (reduced to 4.2% only for 2011 tax year). 

"Social Security payments increased by 5.8 percent in 2009, the largest increase in 27 years, after energy prices spiked in 2008. But energy prices quickly dropped and home prices became soft in markets across the country, contributing to lower inflation in the past two years." Source

Unfortunately, unemployment numbers remain high so the potential for more social security tax revenue would be higher if the economy picks back up. The question remains if it will, and with the United States entering an election year, it will be a rocky road.  The REAL question is can Americans sustain themselves given the grim economic environment?

WILLs and survivors

It is wise for everyone to have some form of a Will in place regardless of the size of the estate.  For military, this document is usually done prior to deployments.  It is important to update all records every 2-3 years for active duty military just because a lot can happen and change within a short amount of time.  For most, it is wise to do a review of your estate upon the death of a loved one such as a spouse or child, the new addition to the family (such as a baby or adopted child), or a significant increase in holdings in the estate (i.e., those who have won the lottery which is usually 1-2% of the entire population). 

For those considering how to divide the estate, the best way is to EQUALLY divide the estate among your children.  That way all children are recognized.  Being equally divided sends an important message that the money/assets do not matter and that that child was fully recognized by their parent albeit past issues. 

Of course, for your estate planning needs, it is wise to hire an attorney to draft this legal paperwork should there be any concerns.  JAG can answer many of these questions for the military person.  It is wise to consider the source of your information and do your due diligence.  Relying on one person's advice for a major decision is a high risk proposition.  That is why asking and seeking the information from several sources is wise to make sure that you are able to have your last wishes communicated well.

While no one wants to deal with end of life issues, it is wise to complete the paperwork.  You will sleep better knowing that it is all done.  Your heirs will also relax knowing that they are in good shape.  It is money well spent especially when all can get a good night's rest.

Realistic Tips on Today's Social Security Benefits

Social Security is a program instituted under President Roosevelt in the 1930s (many immigrants believe it to have always existed but that is not the case).  It is in dire need of reform as it's Trust Fund is predicted to go bust.  While my grandparents benefited from it and were able to enjoy a better lifestyle while in retirement than working, today's retirees are not enjoying the same benefits from 30 years ago. 

This Smart Money article Things Social Security Won't Tell You is very interesting and is why I've added this information to Alfa Sugar for your information gathering purposes.   As always, please conduct your own research because laws and legislation change frequently. 

For those currently in retirement, it may prove wise to return to work and increase your income.  I understand that employers are not hiring older workers (even with all the laws in place to protect this class of worker).  By increasing your income, you could increase your social security benefit. 

Same goes for those who are close to retiring but not there....it is wise to continue to work another year or two before retiring.  Financially speaking, you would benefit in the longer run from Social Security should it not go bust.

For those younger and working in the workforce, it is wise to save for your retirement.  Relying on the government to take care of you is foolish financial thinking.  For those Americans who are collecting on Social Security Disability (yes, that number is higher this year than in years past), it is imperative to note that you are only hurting yourself in the long run if you truly are capable of working. 

You can be unemployed and retired.  There is a class of people age 60 and older who are collecting unemployment checks because of the sour economic times.  If it's any consolation, the government is not gaining more revenue because of poor econimic times.

Bottom line is an increasing financial divide between hardworking producers and folks not working but getting handouts from the government.  This mathematically will not sustain itself in the long run. 

While past generations were able to reap a double digit percentage return on money paid to Social Security, today's worker is looking at double digit percentage loss on funds paid to Social Security.  It is government so we by law must pay this tax.  However, many Americans will not appreciate this problem, and for some, it comes at a time of too little, too late.  Reforming Social Security is a major item for anyone in government to undertake.  While President George W. Bush attempted to reform it as well as other politicians, it is that 90,000 pound gorilla problem that will take lots of sweat and agony to address.  Until then, it is wise to be realistic when it comes to your retirement and your present day financial situation. 

Military Discount in Orlando, FL

Nickelodeon Suites Resort

Nickelodeon Suites Resort is proud to welcome active and retired U.S. military travelers and their families with some military discounts in Orlando, Florida, including reduced room rates and perks through December 15, 2011.  There is also a 20% discount off of a Family Suite through December 23, 2011. 

According to the company, you can make the most of your family time with rewarding military specials for Orlando’s most active family resort!  Rates start at $99 so be sure to research your final prices before booking.  They also offer 10% off food and beverages, 4-D Experience films and cabana rentals.  This is Military Appreciation, and isn't it a nice opportunity?  To book your stay and for more information visit www.nickhotel.com/military or call 877-NICK-111 and ask for the Military Family Package.

Note:  Alfa Sugar is not endorsing this special military discount, just sharing information. 

Military Retirement Concerns From New Legislation TALK

According to the Air Force Times article written by Andrew Tilghman and his staff, the plan to overhaul the current retirement setup is outraging many military folks. 

The proposal unveiled by the Defense Business Board, a Pentagon advisory group, aims to save more than $300 billion over 10 years by transforming the traditional 20-year pension into a corporate-style 401(k) savings account. Under that plan, the military would contribute cash to individual troops’ accounts, possibly about 16 percent of basic pay per year.

The plan would dramatically shift money from the roughly 19 percent of the force that serves 20 years or more to earn an immediate lifetime pension and give much of it to the 81 percent of mostly enlisted troops who leave after four, six or eight years with no retirement benefits. Critics said the plan would devastate retention and jeopardize the quality of the nation’s all-volunteer force.

If the above holds true, then many currently in the military will no doubt be disappointed and frustrated about the amount of time given and not the optimal return monetarily. 

Regardless of what occurs, many military people as well as their spouses and family members need to learn more about finances and how to better manage their financial affairs.  It is obvious that the government is not capable of properly managing the military member's best financial interest when it comes to retirement.

Politics will always present new bills, new legislation, and new changes to many things that will affect the military member.  No one likes change especially when it pertains to finances.  What is important to note is to get financial advice, to read a book on the topic and to manage your financial affairs.  Retirement and saving up for it matters more so today than in years past. 

Seeking Financial Advice in Today's Changing Time

In speaking with a young lady at the gym, she and her husband are working hard to save up for retirement.  Both do not have children.  Both are maxxing out their 401k.  Both are working jobs.  Both are concerned about what is evolving in the future.  She has even gone to great lengths to research banks, their rates, and other comparisons in a fancy and well-documented spreadsheet.  I was impressed because the bulk of women I meet are not as sophisticated in understanding their finances.  She simply was asking questions and trying to get some answers. 

Like her, many folks are seeking financial advice but not getting much of any relevant information from bankers, financial advisors or others. 

For military folks, you can contact OneSource for financial advice.  USAA offers financial advice on its member web site page. 

I am certain that there is a person who has the heart of a teacher and a passion for finance to talk to about this topic in your area.  Problem is seeking them out and feeling comfortable. After all, the three taboo topics are religion, politics and finances.  Breaking the silence and disclosing your financial situation is intimidating, but then again it can help you in ways you least expect. 

Financial Fallacy

This morning's news echoes what many are questioning....why is the United States developing a financial fallacy with regard to its debt and just common sense management of govenment business?  I believe that the S&P 500 will lower our AAA credit rating. 
For many folks especially the military, this is discouraging news.  I have a difficult time turning on the tv or internet and read these bleak reminders about all the arguing in Washington DC.   Since I can recall back to the 1980s, it made sense to payoff the debt before it went on a credit spiral.  Today, we are experiencing a credit spiral. 

This wonderful capitalistic country is on the verge of something none of our American ancestors would want for us.  These seven points below outline general financial perspective as we encounter an economy that is teetering on the edge of a potential financial disaster.

1. Inflation - we will experience higher inflation than in previous years.  The purchasing power of the dollar is dismal in this type of economic environment.  For those in retirement or about to enter retirement, it means a lower quality of living since the cost of living standard (just to maintain present day cost of living) will be a challenge.  For military families, it means hardship because many are challenged financially.  Relocation with the military is expensive, more so than what people realize.  While there are items provided for, it's still a challenge for many to meet budgets.
2. Jobs - what jobs are being created today?  Manufacturing ventured overseas starting in the 1980s, and today there are fewer manufacturing jobs left in this country.  (Many work part-time  jobs with little to no benefits.)  For those 55+, the ability to get a job is on the decline as youth versus experience is the preference.  For those in the military, there are some cutbacks occurring that will force military families into civilian world and that may mean unemployment.  One couple has been struggling with employment for three years now, and it's a direct result of his military reserve status. 
3. Discouragement - if you shop local pawn shops and thrift stores, you will see a huge increase in traffic buying clothes, shoes and other basic necessities.  Pawn shops are packed full of merchandise such as guns, guitars, jewelry, tools, electronics and more simply because people need money to get food and provide shelter and transportation.  This increased level of activity spells out to me the increasing discouragement that we as a nation are enduring.
4. Money - many are working longer hours with increased job responsibilities for the same amount of pay (or less).  Benefits such as health insurance are changing and costs are rising.  More are having to pay out more in medical expenses than before.  It makes me rethink picking up the phone and calling the doctor's office before incurring that bill.  The bad fact is that I never know what kind of bill I am looking at with medical expenses even when it is for the same routine checkup.
5. Children - parents spend a lot on their children.  With an increase in cost of living, we may see a resurgence of family nights where folks play games or we may see more children left by themselves because of daycare costs as well as working longer hours.  Children consignment sales are very popular as you are able to beat certain thrift stores for good clothing.  Sports activities and other extracurricular activities may see less enrollment because let's face it, budgets are tight and people are tired of these overcompetitive parents yelling at the games.
6. Pets - the animal control centers are seeing an increase in loose pets as a direct result of the economy.  People move and leave the pet wandering to survive on their own.  Pet stores continue to see sales rise; however, more animals are being put to sleep.
7. Nursing home care and hospice - as the bulk of our US population enters the Golden years, it is raising concern for the quality of care.  The elderly are experiencing certain financial challenges. Nursing homes are claiming that elderly person's assets before allowing Medicare to kick-in and are even holding family members financially accountable going back seven years.  In addition to financial challenges, it is common for families of loved ones in nursing homes to encounter abuse of loved ones.  For example, a nurse aid contacted all family members and asked for money for their loved one.  She did not realize that the family she was conning was one full of attorneys, military officers and educated people who called her bluff.  While her jail time was next to nothing, she will try this again. 

While the outlook appears bleak and discourages those of us who are hardworking, exercise our right to vote as a U.S. Citizen, and are doing what's right (i.e. not into drugs or other bad behavior), it is important to understand this season of life that the United States faces.  Who knows, we may be revisiting the time of Ninevah where a higher power is exerting influence to get our attention.

COLA - Military Retirement Concerns

COLA or cost of living adjustments is a measure that affects military retirees.  COLA change could affect retiree benefits article by Rick Maze presents interesting financial perspective on what's evolving.  Keep in mind that Congress has to approve the increase legislatively each year.  There's been a lot of talk about this issue online.  COLA explained shows the current COLA track and how we have seen a strong inflation uptick since March 2011.  Some military retirees appreciate getting something.  Others are critical of Congressional pay/benefits.  Some others dislike lawmakers and the usual disappointment that comes from these issues being handled by government.  Whatever the case, it's important to understand what is in store for retirees.

Interestingly, one blogger posted the following information about pay/benefits for Congress people.
Members of the House(speaker gets $223,500), Senate(except for majority and minority ldrs who get $193,400) and VP all get the same salary. $174,000/yr. Members of Congress receive retirement and health benefits under the same plans available to other federal employees. They become vested after five years of full participation. Members elected since 1984 are covered by the Federal Employees' Retirement System (FERS). Those elected prior to 1984 were covered by the Civil Service Retirement System (CSRS). In 1984 all members were given the option of remaining with CSRS or switching to FERS. As it is for all other federal employees, congressional retirement is funded through taxes and the participants' contributions. Members of Congress under FERS contribute 1.3 percent of their salary into the FERS retirement plan and pay 6.2 percent of their salary in Social Security taxes. Members of Congress are not eligible for a pension until they reach the age of 50, but only if they've completed 20 years of service. Members are eligible at any age after completing 25 years of service or after they reach the age of 62. Please also note that Members of Congress have to serve at least 5 years to even receive a pension. The amount of a congressperson's pension depends on the years of service and the average of the highest 3 years of his or her salary. By law, the starting amount of a Member's retirement annuity may not exceed 80% of his or her final salary.  This blogger provided a lot of financial perspective here.  Other bloggers echo the concern that Congress people earn six-figure incomes and don't take a paycut during a serious financial time while military personnel don't get compensated in as fair of a manner. 

I respect people who serve in public office to a certain degree.  I respect fellow military personnel and their families as they relocate their lives to different parts of the world, endure financial hardships, make a sacrifice for the good of their country and even will make the ultimate sacrifice.  Both people serve this nation in ways that we need of their service.  John Adams was a great statesman, and his marriage is one that I am in awe of.  Historically, it was a high calling and an honor for someone to serve in public office.  Today, it is discouraged by many.  Homeschooled children tend to seek ways to influence politics more so than traditionally schooled children today.  I present these facts as perspective as there is great history and much to learn from those who came before us.    Perhaps we are returning to some tried and true methods from our American heritage. 

With retirement drawing near for many or retirement to occur in 30 years, it is important to understand how your military retirement will benefit you.  For many on fixed income, it is wise to revisit your budget.  While costs continue to rise, many have tight budgets that limit more so than before what one is able to afford and/or go and do.  Whatever the case may be, it is wise to work with a financial advisor, friend or someone who is good at number crunching.   I constantly revisit our budget each month, and in looking back on past budgets from years past, it amazes me at how we make it happen regardless of our limited income.  Happiness comes from the things in life that money can't buy.  It's so nice to afford things and not worry about making ends meet.  Yet, sometimes, it's the little things in life that remind us of what it is that we need to do in our life.

International Monetary Fund Shows America's Decline Yet How Do You Invest?

The International Monetary Fund (IMF) shows America's decline as a percentage of the world's purchasing power and that China will take the no. 1 positon in five years.  Brent Arends of Marketwatch writes a brilliant article on the IMF Bombshell so please click the link to review it.   With China's economy to likely surpass ours in 2016, it's interesting how more articles are being published about this very topic and the devaluation of the US dollar yet not much is being done.  CNBC's article on Don't Like a Weak Dollar? lends more current news on the dollar. 

Given some grim current news about the US dollar, our national debt and the decline of US dominance with regard to the IMF, how do you invest? 

It's a provacative question that many are pondering in the back of their minds as they go about the day caring for children, working a job, and/or sidelining it in retirement.  My parents are baffled by what the future holds if things don't improve.  Many of the baby boom generation seeking to retire and enjoy social security are perplexed at IF they should retire rather than when.  Health insurance, medical bills and medicines are high and tend to take away a larger portion of their fixed income than originally calculated.  For those of us twenty plus years away from retirement and/or funding a child's college, it's perplexing where to seek the best return for your investment. 

My recommendation is to first assess your financial situation as well as your time horizon.  If you are a young person, then you have time to invest and reap the benefit of the power of compounding.  If you are working and are starting a family, it's time to invest in good quality growth investments.  If you are nearing retirement, it is important to sock away as much as possible and focus on a balanced account. By all means, it is wise to pay off all your debt.  There are ways to do this, and while each individual case is unique, I recommend that you seek the advice of a professional. 

We can't worry about the IMF statistics nor America's decline.  America historically has combatted many unbelievable scenarios where we were the underdog, yet the underdog prevailed.  I have NO MAGIC wand but I have faith in the American capitalistic spirit that remains in few of us today.  Should we correct certain measures, we as a nation will remain a strong economic influence in the world.  Invest in America is still a good idea.

TSP Roth Investment Option

The TSP Roth Investment Option is not available until 2012.  However, there is limited information surfacing about making after-tax contributions through a Roth IRA.  While there are too many unknowns for me to make comment or provide financial perspective, there is an opportunity on Wednesday, April 6, 2011 at 1300 EST for you to join an educational webinar about the TSP Roth Option and the benefits of establishing a Roth IRA now.  Event Registration sponsored by First Command and Federal Times 

For more information, please review the TSP Roth IRA information brochure. 

Beware of Hidden Fees in your 401(k)

Hidden fees do occur in your 401(k) savings particularly if you are like most who invest the bulk of your savings into mutual funds. 

Natasha Gural wrote in the March 2011 Better Investing Magazine a great article on how "Hidden Fees Are Eroding Your 401(k) Savings."  She reviews how surprised investors are at how much you ARE paying for your retirement.  Hidden fees include turnover related ratio costs as portfolio managers turnover assets through trading.  Other costs include administrative, marketing and management fees.  Granted, mutual funds are for-profit businesses and render fees to maintain a profitable P & L statement. 

When you just invest your hard-earned dollars and assume that your investment is taken care of, it is wise to revisit your lack of time and interest concerning saving for your retirement.  The SEC oversees certain regulations, but it is the Financial Industry Regulatory Authority (FINRA) that imposes limits on mutual fund fees.  The SEC does provide a mutual fund calculator on their web site page to help investors (yes, that includes you if you contribute to a 401(k) plan) determine mutual fund fees and expenses. 

There are some mutual fund companies that are aware of these costs to individuals.  Vanguard is one example where they advertise that they help investors build wealth at-cost investments.   

Amy Buttell of the National Association of Investors Corporation (NAIC) reviews several of their members top mutual fund picks. 

If you work for a major corporation, it is good to check with their human resources department because employers negotiate certain packages and must report to the Department of Labor the expenses of employee benefit plans in Form 5500 (these are available to the public).  In July 2011, new rules and regulations go into effect regarding managers and advisors overseeing 401(k) plans according to a Reuter's online article.  Simply put, advisors must provide written compensation plans to sponsors.  Already, critics claim that this is still too broad in a Bloomberg article released March 1, 2011.  "Our concern is that the rule is broadly written,” Ken Bentsen, executive vice president for public policy and advocacy at the Securities Industry and Financial Markets Association, said at the hearing.

For military personnel and their families, FINR sponsors the Save & Invest FINR military home page and offers financial resources to military personnel.  It's a start to educate yourself regarding your retirement.  There are ideas to invest your disability for those military personnel seeking information. 

Of course, I am an advocate for investing in individual stocks because if you invest and hold long term, you will not pay out a lot in mutual fund fees and expenses.  The trade-off is if you are interested in monitoring your retirement investment or turning the keys over to someone else to drive the account.  Either way, the payoff comes as a result of your decision.  Blaming a manager or a fund for poor returns shows a lack of responsibility on your part if you have not researched and monitored it.  There are many professionals in the finance and investment management industry that are well-worth the fee and time to assist you with your personal finances.  Buyer beware is a catch-phrase to keep in mind as you align yourself with someone who has your best interests at heart (not their hidden agenda or fee).

1. It is important to save for your retirement. 
2. It is important to understand what are the fees and costs involved with your 401(k) and/or retirement account. 
3. It is important that you review your account quarterly if not monthly. 

Hidden fees add up over time, and if you are not properly monitoring your retirement investment, you could have less of a retirement nest egg than what could have been. 


 Disclaimer:  This article is the opinion of the person writing it, and any financial decisions made as a result does not make the writer liable for any action taken.  Please consult your personal financial advisor for more information.