FeeX Mobile App Review
Have you started saving for your retirement? If so, great job! In fact, according to a recent article published by CNBC, if you have over $1000 dollars saved in your bank account and you’ve actually begun saving for retirement, you’re actually doing better than 50% of all Americans!
Which when you think about it…
It is CRAZY! Particularly now that many American’s are living much longer after retiring than just a few decades ago and the cost of living just seems to keep on rising year after year!
Congratulations if you’re already saving money for retirement, nowadays that’s half the battle! Now you want to make sure that you’re making the most out of every retirement dollar that you set aside.
We’re not financial experts or retirement specialists, we’re NOT going to be giving you an “retirement” advice, all we want to suggest is that wouldn’t it be NICE to know what FEE’s you’re paying as part of our retirement program?
We think so…
Which is why we wanted to introduce to you the Feex app and suggest that you take a look at it for yourself so that you can see if you’re your currently getting “hit” by any outrageous fees associated with your 401K plan (if you have one).
What is FeeX?
FeeX is mobile app that saves you money by helping you find any hidden fees associated with your 401(k), 403(b), 457, IRAs and brokerage accounts. They like to refer to themselves as the “Robin Hood of Fees”. Only they’re not stealing from the rich and giving to the poor; they’re actually just making sure big businesses don’t take more of your money than they should.
According to their website, “most people are set to lose about one third of their retirement savings to fees.” If that’s true – and if Feex can help – then anyone who is saving for retirement should try it out…and FAST!
Founders of Feex.
Have you heard of the mapping app, Waze? Well if not, you might be interested to know that that Google bought the app for a reported 1.3 billion USD? And how does this apply to our current conversation? Well that’s easy, Waze co-founder Uri Levine all started the Feex app after he noticed he’d been charged thousands of dollars in management fees on a retirement account.
And not to accept that lightly…
Uri Levine was able to (with a little persistence) to get many of these “fees” waived. Which inspired him and his co-founders Yoav Zurel and David Weisz started Feex to help other’s reduce their hidden fees as well!
Services offered by FeeX
There are three main things that Feex can help you do:
- First, it can help you understand how to rollover your 401k.
- It can also help you compare rollover plans.
- And finally, it can help you identify any potential “hidden fees” within your current 401K
Does FeeX cost anything?
No! It is totally free to users to use.
Then how does FeeX make money?
Feex earns their money by working with financial service providers. You see, whenever Feex refers a person to a financial service provider, the financial service provider pays Feex a fee – without charging the new customer a penny more!
But don’t worry…
Feex won’t force you to go with any specific financial services provider – they’ll only recommend it when it truly is in your best interest and will help you save money.
How does Feex find and calculate all the fees?
Well, it’s pretty much some advanced accounting (which is why most of us don’t ever notice the fees!). First, they scan your account to see the fees. After that, they give it a fee grade, depending on the amount. From there, Feex will make an estimate of how much money you stand to lose over the course of a set number of years should you continue paying the same hidden fee.
Is there a chance I’m not paying any hidden fees?
Of course, there is a chance – but don’t you want to know for sure? The majority of people are actually paying hidden fees (which means you probably are too). Considering that Feex is free to use, there’s really no reason not to check and see if you are wasting money on fees…especially when this can equal tens of thousands of dollars over the course of your lifetime!
Now at this point we should probably…
Answer the question many of you may be asking yourself right now which is:
“Why is a life insurance brokerage writing a review about a money saving app like Feex?”
Which is a perfectly natural question to have, and one that we’re more than happy to answer.
Here at TermLife2Go, we have one goal for all of our customers which is to help them secure the financial security of their family. Now we tend to feel that the best way to do this is by buying an affordable life insurance policy (just in case you’d like to compare Term Life Insurance Quotes), but we’ll also acknowledge that there are others ways to do this.
See our following articles:
So, if you can find a better way to secure the financial security of your family without purchasing a life insurance policy, more power to you!
But if not…
We’d love it if you’d give us a call and see if we might not be able to help you out particularly after you’ve save all this money by eliminating a ton of “hidden fees”!
Just so that nobody gets the wrong impression, we here at TermLife2go are not money managers, financial planners, tax advisors or retirement specialists! All we are is a bunch of life insurance agents who just happen to be really good at helping our clients find really affordable life insurance policies.
We’re also not…
Employed by or receive any type of compensation by the folks who own and operate Feex. So, at the end of the day, it really doesn’t matter to us whether or not you decide to try the Feex app out or not, we just think that it’s a pretty cool idea and because it’s free to try it can’t hurt to see if you’re actually paying a ton of “hidden fees” you weren’t aware of!