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Your Guide to Picking the Best 401k Investments
Most of us hate uncertainty. Unfortunately, picking investments almost always involves uncertainty. This is obvious if you review the long list of investments available to include in, say, a 401k investment menu. That’s because while you can look at the past performance of each investment, you ultimately have no way of knowing which investments will…
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Do you need help with your 401k investing?
Most people haven’t taken an undergraduate class on investing, much less 401k investing. When the 401k was introduced, it had a limited number of choices. Then, due in part to technological advances, the number of choices began to balloon. I have seen one plan with 150 choices for busy attorneys. I doubt they had a…
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Can Business Owners Cut 401k Plan Fees and Save on Taxes?
No small business owner I have talked to knows their 401k plan fees or their effective tax rate. One of the questions on the Envision Wealth Structural Assessment is “Do you know your effective federal income tax rate? I have yet to find anyone who actually knows this answer. Most people just take their receipts…
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Is a QDIA costing you money?
Most people I talk to haven’t taken a class on retirement planning, much less 401(k) investments like a QDIA. A QDIA — qualified default investment alternative — is where a 401(k) puts your money if you don’t select investments. Yet most employees don’t remember reading about QDIAs in whatever packet the HR department gave them…
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How much money will you need in retirement?
There’s a rule of thumb in financial media that you need a million dollars to retire. For some clients though, the idea of saving up a million dollars or more to retire sounds daunting. In my opinion, not everyone needs a million-dollar balance, and the sacrifices it would take to get there might not be…
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Sudden Wealth Lottery- Financial Plan or Money Down the Drain?
Every so often the opportunity to win not just a million but hundreds of millions of dollars in the lottery comes along. Many people have their dream book filled out with the places they would go and the toys they would buy. Speculation or investment plan? Is it a good investment? No. My statistics professor…
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What is a 401(k) in-service withdrawal?
Simply put, an in-service withdrawal feature lets you turn your 401(k) into retirement income. It occurs when employees withdraw funds from an employer-sponsored plan while still working at the company. Essentially, an in-service withdrawal lets you shift a portion of your money away from retirement accumulation to retirement income. Let’s say you look at the…
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Save more or risk more? Your path to a confident retirement
The demands of your work and personal life are many. You spend your working hours focused on increasing your expertise in the field of work you enjoy. When it comes to other fields, such as retirement planning you don’t have the tools or time to gain the knowledge to be an expert. Will a team…
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