Survey : 70 % of people with 401 ( k ) s do n't know they pay fees for retirement accounts . Robert Smith : They invest their 401 ( k ) account equally in a stock mutual fund and a bond mutual fund , each of which charges average market fees . Fees can , on average , reduce your 401 ( k ) s by up to 30 % . He says far too many Americans are paying unnecessary high ##s , even when it 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 pay fees for retirement accounts . Robert Smith : Fees can , on average , reduce your 401 ( k ) s by up to 30 % . He says far too many Americans are paying unnecessary high ##s , even when it is up . Hiltonsmith : The mutual fund system we have ca n't be fixed and must be replaced .