Our daily roundup of retirement news your clients may be thinking about.

Finding, and battling, hidden 401(k) costs
Contrary to what many workers think, workplace retirement plans charge hefty fees that can eat away substantial amount from their savings, according to an article on The New York Times. An average household can lose $155,000 from high 401(k) fees over a lifetime, with households in higher income brackets losing up to $278,000 from these fees, according to a study. Although the federal government requires employers to disclose 401(k) fees to their employees, only few workers take time to know the amount they pay for their plans.  -- The New York Times

How to pick the right robo advisor for your retirement
Investors stand to gain from robo advisors, or firms that offer algorithm-based buy and sell advice online, especially if they have more complex portfolios involving a broad mix of investment accounts, according to this article on DailyFinance. Clients who have a lump sum investment in a diversified portfolio may opt to use low-cost online managed accounts, while employees who participate in their employer-sponsored retirement plan can also use online 401(k) advisers. Other clients may prefer the hybrid model that enables them to invest online and confer with financial advisors via Skype or by phone. -- DailyFinance

Only half of workers enroll in company retirement plan

Forty-three million full-time employers are not participating in their workplace retirement plans based on government data, according to this article on Motley Fool. These people opted to forgo the opportunity probably because they cannot afford to participate in the plan, they fear of losing their hard-earned money, or the plan offers poor investment choices such that they rather invest by themselves. Relying solely on Social Security for retirement income can be risky, so clients are advised to contribute to a retirement savings plan to secure their finances when they retire.  -- Motley Fool

3 retirement rules of thumb that actually work
Some pundits advise people to skip rules of thumb when planning for retirement, but sometimes these old saws actually can help. Specifically, these rules can help clients who face no other alternatives, except for having no plan at, according to this article on Forbes. One of the retirement rules of thumb is for clients to set aside 15% of their earnings every year. Other rules of thumb in retirement planning are to hold an investment portfolio based on age and to start withdrawing from retirement accounts at 4%.  -- Forbes

5 mistakes that can break your retirement savings plan
Taking premature withdrawals from a retirement savings plan and having no outside emergency fund are among the mistakes that can hurt workers' nest eggs, according to this article on Morningstar. Many clients also fail to prioritize their nest eggs, increase their contributions to their retirement accounts when they get a salary raise, and consider other ways to boost their savings.  -- Morningstar

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