Six Tips for College and Retirement Saving

Before putting yourmoney into an account for college or retirement, you should be sure that yourtax savings wont be dwindled by fees. A new study by Cornell University revealssome lessons investors should pay attention to. 

1. Taxes have hidden costs make sure you know all the tax angles.
2. Administrative costs for 401(k) and 529 plans are high.
3. High costs compound, so investors should use a mutual expense calculator.
4. Investors should disclose 529s and 401(k) helps lower costs.
5. Educate yourself about the different investments and fees.
6. Tax breaks can tether investors in a negative way.

See Janet Novack, 10 Tough Lessons For College and Retirement Savers — And Tax Reform, Forbes, Sep. 10, 2013.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.