*** *** For many of us the money we put into our 401k and the money we grow there will be a primary source of funds to see us through our retirement however we may envision it. The more I talk with people about their accounts the more I see common pitfalls that are...
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Have you ever filed away your 401k account statement without opening it? Have you ever looked at losses in your 401k and assumed your financial problems will magically go away if you just hung on long enough? Have you tried to get help from you company and given up when they told you to...
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You have accumulated your wealth by virtue of talents other than managing an investment portfolio. You have worked hard in your field and have had the presence of mind to put aside money for retirement. Do you have the time and the desire to teach yourself an entirely new professional set of skills? Do...
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The Defined Contribution Plan, most commonly known as the 401k plan, is a perfect platform for the application of technical analysis. What you should know is the main menu of investment options in your plan consist of products. Each of these products is a portfolio of assets. The assets in each portfolio are selected...
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photo © 2006 N1NJ4 | more info (via: Wylio) The Financial Industry Regulatory Authority, Inc., FINRA, released the state-by-state online survey of more than 28,000 respondents (released December 2010) as part of the 2009 National Financial Capability Study. A very impressive team created the survey instrument:
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For who is the “Buy and Hold” message directed? The financial industry, particularly in the mutual fund space, has spent millions upon millions of dollars spreading this advertising message. And, in truth, that is all it is ~ an ongoing advertising campaign. How can you tell? Look at
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Let’s be honest here: something for nothing is what we commonly believe to be the definition of free. However, even free offers have a cost. In the area of your 401k plan, your employer will likely offers free tools. Common among them will be informational brochures on how the plan works, how you...
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I am not a fan of Target Date Funds for two primary reasons. The first reason is the very real disconnect between the theory that bonds should be a part of every investors’ retirement portfolio (in the name of “safety”) yet
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This article will help you with your initial assessment of the Self Directed Brokerage Account (SDBA) among your 401k investment options, which may include ETFs or exchange traded funds. photo © 2010 Keith Ramsey | more info (via: Wylio) What you need to know about the SDBA is that it expands the investment choices...
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Recall we said the number one rule for ways to save money was ~ pay yourself first! Here is the second rule ~ take personal responsibility! What does that have to do with money saving tips? What does that have to do with my retirement savings account and my 401k plan? Everything! Let me...
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Why should I care about the philosophy of my 401k Plan Provider? The short answer is it will impact your money. Quick point, your Plan Provider is the investment bank, bank, or financial services firm that provides the investment platform that is your 401k plan. photo © 2009 woodley wonderworks | more info (via:...
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This is an important enough concept to spend a bit more time explaining. Recall the Target Date Fund in your 401k, in theory, is to protect your retirement savings account by rebalancing your portfolio every year
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If your 401k plan has been amended to comply with the Pension Protection Act of 2006, which came into effect in January of 2008, you may find yourself as an investor in a Target Date Fund without having made that choice. This product was designed as a one stop shop for employees to prevent...
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One of the things I have seen in 401k plans is a scale measuring risk from low to high and the mutual fund choices available in the plan placed in the approximate location on that scale. One example of the progression from low risk to high risk is often represented as follows:
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You have taken the first step and resolved to pay yourself first. Good. Now what? photo © 2010 Andrew Steele | more info (via: Wylio) Let’s look at what is inside your 401k. Most plans today have some number of investment choices on the main menu. They are almost all mutual funds. The...
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If there is any single idea that will benefit you ~ this is it. Pay yourself first. photo © 2005 Tracy O | more info (via: Wylio) OK, let’s be clear. Paying yourself first does not mean taking money out of your income and putting it aside for a new plasma TV,...
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