Avoid High Fees
While you’re busy diversifying and planning out how to best save up, don’t forget to check out your account fees. You could end up losing precious dollars if you don’t take the time to look for better options. This is especially true for seniors who started saving late and are more willing to do just about anything to prepare for retirement.
According to the U.S. Department of Labor, your balance will be lower by 28% if your account fees are at around 1.5% instead of 0.5%. Now that 1.5% doesn’t sound so small anymore, does it?