By Elana Centor on BlogHer:

"The financial industry is a scam. Advisers and money managers earn more on your money than you do, " says Michael Edesess, Partner and Chief Investment Officer of Fair Advisors, and author of the 2007 book, The Big Investment Lie. "The problem with 401(k)s is that in very many cases the costs are greater than the tax benefits, making them a net negative wealth-builder."

About those costs - do you have any idea how much you are being charged in administration fees for your 401(k)?

It seems like a reasonable question. It seems like a question that most people would not know right off the top of their heads but with a little searching through paperwork, could come up with the answer. And, if that failed, certainly you could shoot off an email to your plan administrator and say, "could you send me information on the fees we're paying."

It sounds reasonable. Yet, it's a trick question…

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More on Wall Street scams:

Why you should never do business with Wall Street

Dan Ferris: Why earnings "above analysts' expectations" are actually crap

Great explanation of how you're paying for Goldman Sachs bankers' HUGE bonuses