Step Up Your Fund Manager Scrutiny

Of course, sometimes fund shareholders can't just "walk away" and sell their shares because they're held in a company's 401(k) plan. And sometimes -- especially in smaller companies -- those funds have huge (and unnecessary) annual fees and costs that detract from long-term investment results.

If you think your company plan isn't competitive, ask your boss or the human resources department to go to PlanSponsor.com, which provides information on pension and retirement issues. On the right column of the home page there's a place to click to search for an accredited PlanSponsor retirement professional in your area. This adviser will help your company benchmark its plan costs and services and start a search for a better, less costly provider.

Finally, when you get your year-end investment statements, don't just file them away. Grading your own performance is more difficult than complaining about your fund manager. But this is the time to face reality, and if necessary, to regroup and take a wiser course for next year.

You can do it if you'll take the time and effort. And that's The Savage Truth.