5 Mistakes Investors Make By Going Solo On Their Retirement

4. Investing in Cash

While more people are keeping cash in the bank rather than stuffed in a mattress, keeping your wealth in the form of cash is a terrible way to build wealth over the long-term. Why? Cash loses value over time, returns on savings accounts are close to zero, your purchasing power will go down over time due to inflation. Need more reasons not to "invest" in cash? Check out this article.

5. Not Avoiding Hidden Fees

According to Inc., a whopping 92% of Americans don't know what they are paying in fees on their long-term retirement accounts. This is a HUGE problem, especially if you're managing retirement money solo. Forbes recently noted that a mere 0.93% difference in hidden fees between two funds can cost up to $215,000 for a single investor over their investing life! How? Compound interest...it's a powerful thing.

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