How to Evaluate Your 401(k)

by Miranda Marquit · 0 comments

looking at piggy bank
One of the ways many people invest is through their 401(k) plans. These plans come with tax advantages, and some employers even contribute matching funds. For many people, the 401k plan is a way to save for retirement without too much effort. However, there are some things you should consider when it comes to your 401(k). Retirement startup FeeX offers these considerations when evaluating your 401(k):

Do You Know What You’re Paying?

First of all, do you understand what fees you are paying for your 401(k) plan? Many of us don’t stop to think about investment costs since we don’t physically have to pay from out of pocket. However, check for fees and expenses that might be reducing your real returns over time. There’s a difference between a plan that with 1% in fees and one with more than 2% in fees and expenses. Over decades, those fees can mean tens of thousands of dollars missing from your nest egg. And plan administrators are required to share this information with participants, so look it up and make changes accordingly.
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warehouse
We all know what Amazon.com does best. Chances are you’ve even shopped there at least once. The online shopping giant has become a household name by carrying one of the largest product selections online and having low prices. They’re also known for their speedy delivery and just overall dominating the eCommerce industry. But even so, navigating Amazon and finding the best deals can be quite confusing.

I’m a very loyal Amazon.com customer and do a large part of my shopping there (everything except for groceries). Shopping the site can definitely be difficult at first, as there’s just so much to browse, but you can definitely score great deals with a few tips. Here is how to find the best prices on Amazon.com:
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big house
When we built our home in 2004, we paid attention to the details we thought were important at the time. We found a floor plan we liked with the right number of bedrooms, and an ample sized kitchen on a lot adjacent to a park. Unfortunately, we didn’t think a lot about how our needs would change over time. A lower level basement that had been the kids’ toy room when we first moved in now sits almost empty. They’ve both moved into stages where their main sources of entertainment are their computers (which reside in their rooms), or socializing with friends.

Our lower level basement, which is 1/4th the total square footage of our home, is used for nothing more than storage and the home of our cats’ food and liter boxes. Every time I feed the cats, I look at the large empty room and wonder how much money we could save by downsizing our home. I did a little estimating, and the amount is staggering.
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vacationing
Traveling for business is a part of many people’s careers. While they’re not usually thought of as a vacation because of their purpose, business trips sometimes involve interesting locations, venues, and upscale hotel accommodations that can be enjoyed during your down time. If you’re unable to travel other times of the year because of finances or family obligations, these can be great opportunities to squeeze in mini-vacations that are more affordable since the largest expenses (transportation and lodging) are paid for by your employer. The next time you have to travel for work, try a few of these tips to turn a mandatory business trip into a relaxing, adventurous vacation.
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workout
I dragged myself out of bed at 5:18 a.m. this morning (after I’d hit the snooze button twice), threw on my workout clothes, and went to the gym before the sun was up.

Despite the fact that I once viewed early mornings (not to mention a.m. workouts) to be a unique form of torture, I am trying my best to create a pre-dawn gym habit in order to set each and every day up for success. That’s because your morning habits set up your day for better or worse. Hitting the snooze button until 20 minutes before you have to leave for work is a good way to feel behind all day long, while getting up early and fitting in some exercise will help you feel empowered to handled any problem that crops up.

Did you ever want to improve how you start off each and every day? Here are four morning habits that successful people adopt to stay on top of their days, their careers, and their lives:
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road trip
I don’t normally get into penny pinching, but I do like to try to get good value for my money when I’m planning a big expense. The good news is that I normally find a few areas to save money on when I do make the effort. This was again the case when I took eight days to drive from my old home in Pennsylvania to my new home in Idaho.

After the moving truck was loaded and on its way, we packed up the car with what was left, and headed out. Here are some things I did to save some money while we traveled:

Drive Moderately

One of the ways to improve your gas mileage while on a long road trip is to drive moderately. I didn’t go over the speed limit in an attempt to keep my gas costs lower. This was especially important, since we had items tied to the top of the car and bikes on the back of the car.

I also make it a point to maintain my car so that it runs smoothly and gets the best gas mileage possible. Over the course of 3,000 miles (we tool several detours to see things a little out of our way), those savings can add up.
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