I’ll have a longer post about this in the future, but I read an interesting article in the Wall Street Journal today about the fees associated with 401(k) plans. As anyone who tracks their monthly fund statements can attest, administrative and transaction fees can really start to add up and take a big chunk out of your profits if they’re not actively managed, preventing you from building wealth to the levels you hope for.

New legislation making its way through Congress might help investors by mandating a greater level of transparency than is currently required. It should be interesting to see this develop. You can read the full article here.

– Michael

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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