Saving for retirement is the biggest financial challenge many people face, and one problem involves the huge fees that people pay. Recently, the Center for American Progress suggested that having retirement mutual fund "labels" clearly showing fees could help people plan better for their retirement.
In the following video, Dan Caplinger, The Motley Fool's director of investment planning, looks at the proposal, noting that increased fee disclosure is always helpful for people evaluating their retirement savings options. Dan suggests that the hope that those making the proposal have is that more disclosure would actually lead employers to make smarter choices about which investments they choose for retirement plans, helping their workers add hundreds of thousands of dollars to their eventual retirement nest eggs. Dan concludes that although retirement-fund labeling wouldn't solve all the problems with retirement savings plans, it would be a step in the right direction.
Have general questions about Social Security? Email them to SocialSecurity@fool.com, and they might be the subject of a future video!