Hello all. New to the site and had a question.
I have a 401k at my job that is managed by an "Advisory" firm. For the privilege of a yearly 1% in fees on the ENTIRE balance of my account, I get a quarterly form letter from them. This drives me nuts. Now that they have to disclose the charges to us I get to see how much is siphoned off by them in addition to the regular ongoing fees by Schwab for each fund I'm invested in.
So my question is this: Would I be better off ratcheting back my contribution percentage to the minimum to get the match and putting the excess into index funds, or should I just get over it and keep contributing my current 20% because the lower yearly taxes make up for the fees?
And as a side note, I also contribute the max to my Roth each year, am 45 years old, have my house paid for, pay off my credit card in full each month, and try and put away something in savings each month. BUT, in no way am I as frugal as many of you, and I drive a truck to and from work, have no bicycle, eat out too often and like to gamble. Sorry, had to get that out as this feels like confession and I sincerely hope to get better with time and support from you good people's help!!!
Thanks,
OneDogGP