Know your $$$$

Know your $$$$

Let’s play a little game I like to call “Do you know your money?” The game goes something like this. I ask you some questions about the savings instrument that holds your life savings and your retirement fund. You see if you can answer the questions and find out whether you really know your money.

Let’s get started.

1.       What brokerage firm runs this account of yours?

2.       How much is your company match?

3.       Is it free, or do you pay fees to them? How much are the fees?

4.       If it is your money, can you take it out?

5.       Which fund/s are you invested in?

6.       What stocks or instruments comprise the fund/s

If you struggled to answer these questions, maybe you don’t know your money as well as you thought you did. Why don’t you go take some time to get to know it a little better.