Help with My 401(k)

Many 401k participants just utilize the default investment choice in their plan or use a Target Date Fund. When planning for your retirement, do you want an investment strategy that is designed for the “Average Participant” or do you want a strategy that is designed for you.

Does your 401(k) plan offer a Self-Directed Brokerage account (SDBA)? This option is offered in many 401(k) plans, but most participants do not know it is available. This allows you to invest outside of the standard menu of investment choices. Some 401(k) plans with the SDBA option allow their employees to receive help managing their 401(k) from a 3rd party advisor.  If your plan has this option I may be able to help you manage your investments.  If you are not sure if your plan has these options, I can help you find out if you provide me a 401(k) statement or you could reach out to your plan sponsor.

I  can help you create a strategy that is designed for you to meet your goals and objectives.  I will coordinate this strategy to include all your assets.  This will give you more confidence in  reaching your financial goals. 

9 Common 401(k) Mistakes

1.  Not Signing up

2.  Not taking full advantage of company match

3.  Taking to much risk

4.  Not taking enough risk

5.  Not understanding whether you should be contributing Pretax or Roth 401(k)

6.  Looking at last years winners and then investing

7.  Cashing it out when leave the company

8.  Leaving it behind at your old company

9.  Not understanding the investment choices you have

Getting help

   Advice matters when saving for your retirement. According to a study done, people who sought help managing their 401(k) enjoyed a median annual return almost 3% higher than those who didn’t—even after fees they paid for that advice.*

The study found that people who didn’t get help suffered from several mistakes: Inappropriate risk levels, inefficient portfolios, and they misunderstood market volatility.

*According to the study of eight large 401(k) plans with more than 723,000 participants and $55 billion in assets, by Aon Hewitt, a consulting firm, and Financial Engines, an investment advisory firm. Past performance does not guarantee future results.