As 2018 is ending, the IRS has released its tax laws for 2019. While there aren't nearly as many changes as there were for 2018, which reflected the sweeping tax law revisions in the Tax Cut and Jobs Act of 2017, there some changes will affect contributions to your retirement funds. The IRS also has changed how it calculates inflation.
Your 401(k) is an employer-sponsored retirement account that you fund with deductions from your paycheck and with matching contributions from your employer if applicable. The purpose of a 401(k) is to build a nest egg for your retirement, but what if you need money sooner?
Saving for your retirement is important, and it is likely you have either a 401(k) or Individual Retirement Account (IRA) set up for that purpose. However, funds have fees that decrease the total amount available at retirement. One fee that can decrease a total balance is an expense ratio, which is a fee that exists on all retirement funds and is one of the most important fees to understand.
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