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Ever wonder why your 401(k) doesn't do as well as the overall market? Josh Robbins, chief strategy officer of America's Best 401(k) and son of author and performance strategist Tony Robbins, reveals the dirty little secrets inside the 401(k) industry that robs you of performance. Says Robbins, 90 million of us rely on 401(k)s, more people than own their own home. It's a fascinating conversation that small business operators should pay special attention to.

Three Takeaways from this episode:

#1) Robbins says compensation to market players hurts performance In fact, with all other things being equal, paying fees of one percent versus two percent could mean your money lasts ten years longer into retirement. If you don't pay attention, he says, fully a half to two-thirds of your nest egg could go to fees and not your own wallet.

#2) The key to understanding how much your being charged is to ask your provider or human resources department for fee disclosure. You can also go to www.showmethefees.com for details.

#3) And, watch out for those sneaky fees you may not be expecting. Some providers are marking up the very funds that most of us expect to be super cheap, index funds. Robbins says he's seen funds that should have cost 0.5 percent marked up to 1.5 percent.

Robbins' interview is a fascinating look at the underside of 401(k) management from someone who knows the business well.

Follow me on twitter @gerriwillisfbn and on facebook, where my handle is Gerri Willis.

Bottom line, I want to hear from you - what money issues do you want to explore? Tell me, and we will get it on the podcast. Have a great day and remember, Rich is NOT A Four Letter Word!

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