here to break it all down, robert hiltonsmith... >> smith: in the spring of 2012, robert hiltonsmithme out with his study on the impact of fees on retirement savings. >> when we looked at it, we really found that all of the costs of retirement are really being shifted onto individuals. i was amazed. i mean, everybody covered it: all the major outlets and all of the financial industry outlets as well. every one of them. these really have been sold to us, these 401(k)s and iras, as safe products over the years. the point is that this system isn't built for individuals at all. it's certainly not built for their benefit. >> an eye-opening report out this morning: fees are taking a huge chunk out of our retirement. >> smith: the industry took issue with some of hiltonsmith's numbers, but he had made his point. >> we are being charged a lot by these financial firms to do not a lot, in a lot of cases. we need something different out there. we need something simpler, something safer... you know, honestly, something that people can put their money in, get good returns, not have to worry about