The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: windypig on October 19, 2014, 05:25:17 PM
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My employers retirement plan (Fidelity NetBenefits) in which I am 100% investing in Vanguard Target Date Retirement funds (.18% expense ratio - no transaction fee) charges me a $11.50/quarter maintenance fee. Is this absurd? To me it seems like I shouldnt pay anything but not quite sure what the norm is. Anyways, can I not pay these fees somehow? Ive noticed I am offered Fidelity "Brokerage Link" - perhaps that would be a strategy. What do you pay?
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If it's a flat fee, then that's actually a pretty good deal. There are many fees that are based on the total amount of your portfolio, so it could be much worse.
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I pay an admin fee of 0.50%. I have a six figure balance. It adds up to a lot of money.
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My current employer has a quarterly fee that's about the same as yours. The plans at my previous employers have not had maintenance fees.
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DH's previous employer (also with Fidelity) added a $15.50/quarter fee as of January, with the note that if you pull out your money mid-year, they'll charge for the full year regardless.