Most Americans know they need to save for retirement, but it’s what they don’t know that could make a huge difference in their nest eggs, said Mitch Tuchman, Managing Director at Rebalance IRA. For example, Tuchman said investors should be wary of hidden fees that can erode almost one third of savings over time. He added that self-interested brokers often get paid to sell the products that make the most money for them as opposed to their clients. Furthermore, Tuchman said investors should avoid actively managed mutual funds that underperform market returns nearly 70% of the time.
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