Survey : 70 % of people with 401 The problem with this argument is that it 's not true . ( k ) s do n't know they paid fees for retirement accounts . Robert Hiltonsmith : I think the reason is that most 401ks are not really " free ", you have to pay a fee and then get taxed on it when you withdraw money from them. He says far too many Americans are paying unnecessary high fees , even when market is up . Hiltonsmith : The mutual fund system we have ca n't be fixed and must be replaced .
Survey : 70 % of people with 401 ( k ) s do n't know they paid fees for retirement accounts . Robert Hiltonsmith : I think the reason is that most 401ks are not really " free ", you have to pay a fee and then get taxed on it when you withdraw money from them. He says far too many Americans are paying unnecessary high fees , even when market is up . Hiltonsmith : The mutual fund system we have ca n't be fixed and must be replaced .