19 out of 20 Americans with a 401(k) are paying fees of some sort whether they know it or not. 😰 Even if the account, or advisor, does not charge a management fee, there are usually fees hidden in various ways.

If you know these fees are present you can figure out how to deal with them, overcome, or avoid them strategically. Just don't be a sucker and think you have no fees until it's too late to recover the money you lose.

If you're going to invest, be aware of expense ratios, transaction fees, and front-end or back-end fees. There can even be custodial or accounting fees. Not all of these fees are easy to track down especially when they are pre-packaged within various investments or funds so you simply see a net return.

Even when you just have money in a bank there are possible fees so it pays to be vigilant and strategic about how you save money and where you save your money.