While the new “fiduciary standard” promises to help lower costs for retirement investors, how much of an impact does a modest fee reduction have on retirement readiness compared to actions that investors can take on their own such as delaying Social Security benefits or choosing more powerful investments? Today’s article puts this question to Tom Kmak, CEO of Fiduciary Benchmarks, who examines the impact of six factors – including reduced fees – on “the retirement readiness of a hypothetical 42-year-old woman”, and ranks them from the least to most impactful. What came out as “the best single step that people can take to enhance their financial readiness”? CLICK HERE to find out.
