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October 19, 2019
401K Fees - What are you really paying?
October 4, 2016
Do you know what you are really paying in 401K fees?
I recently worked with one of my clients on a 401K fee comparison with an outside company, and what an eye opener it was! There were many additional hidden costs and fees withdrawn from the plan assets, over and above the amount paid to the financial planner.
We learned that moving to another company that offered a flat fee for services and a fixed asset fee annual rate would save almost $20,000 a year.
Businesses have a fiduciary responsibility to keep fees reasonable for plan participants. One of the best ways to find out what you are truly paying in fees is to contact your investment provider and request a breakdown of fees deducted from your plan assets.
If you would like help in determining what you are paying in fees and how you may be able to save more of your own money, I would be more than happy to work with you.
Qbox - QuickBooks in the Cloud
Qbox allows you to have access to your most updated QuickBooks file from two or more locations with no lag time.
Here's how it works:
While working in your QuickBooks file on your computer, others are locked out from making changes but still have access to view the file. Once you have finished and saved your work, the files are updated via sync mode so it is always current. Once you unlock the file, it is ready for others to make changes.
This is great for your CPA who will always have the most current copy of the file with no need for an accountants copy.
The monthly cost of a subscription is very reasonable with unlimited users. It also allows you access to Word, Excel, MS Access and PowerPoint files as well.
If you would like a demo of this software, please contact me any time.
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