Expert Advice

How Fees Impact Your Retirement Savings

Vice President of Client Services, Sally Brandon, on just how detrimental hidden fees can be to your nest egg savings.

Sally Brandon: I think that one of the things that we strive to for our clients at Rebalance is really to drive down fees and help clients retire with more. Personally, in my life, I’m always trying to find ways that I can lower costs because I know every dollar that I can save today is going to amount to more money in retirement. So we all have hopes and dreams of what we want to do in retirement, and unfortunately there’s a dollar tag associated with that. So, every little bit that I can do now will give me a more fulfilling retirement, and the fact that we can provide that to clients is really satisfying.

Fees are important because they can really erode the funds that you’re going to have available to you at retirement. Even though it might amount to one percent today, with the law of compounding, those fees can be pretty sizable and amount to almost 30% of your retirement. So it’s really important, if you can control that and get fees down to a minimum, you’ll have that much more of a fulfilling retirement, with more funds to support that.