401k Fees, Cataracts & You
Unlike my wife’s, my vision is not perfect. It all happened during the summer of the 9th grade, when my optometrist confirmed I was near-sighted in one eye. Worse yet, he added I would not pass the...
View Article401(K)s Make Me Feel Stupid
It’s open enrollment season in corporate America and that means benefit elections and changes. Last week my wife greeted me with a 123 page retirement program briefing book from her employer and told...
View ArticleHow Much Should I Contribute To My 401k?
If you have read other posts, you know that many of my answers contain a sneaky form of “it depends.” I’ll be less sneaky here. Assuming you have an emergency savings account and a budget where you...
View ArticleHow Much Money Should I Have In My 401k At Retirement?
There are lots of thumb rules for this one, but let’s stick with the basics. Financial planners suggest retirees plan to spend at 75% of their expense rate during their working years. This income is...
View ArticleHelloWallet Infographic: The Power Of Budgeting
This month, HelloWallet’s researchers took an in-depth look among retirement plan participants. We explored the demographic and behavioral characteristics of those participants who budget versus those...
View ArticleWill Millennials Be Ready For Retirement?
UBS recently released their UBS Investor Watch report that shows Millennials (people ages 21-36) are the most fiscally conservative generation since the Great Depression. Apparently all the...
View Article3 Themes from The Health and Benefits Leadership Conference
Day three of HR Executive’s Health & Benefits Conference is well underway in Las Vegas. Hundreds of HR practitioners and service providers have come together for this event to engage in important...
View ArticleThe Increasing Pace of Change In Benefit Programs
The benefits industry has long had a reputation for being staid and resistant to change. After 15 years working in the industry I can attest that this is no longer true. A simple walk down memory...
View Article5 Money Basics You Need To Know
Spend Less Than You Earn. Seems simple, but spending less than you earn is the key to financial success. Budget however you need to make sure you have enough money to set aside each month and achieve...
View ArticleBalancing Conflicting Financial Goals
When we think about our future goals and what we want to achieve, we can find ourselves confronted with confusing choices and conflicting priorities. And, that’s no different when it comes to financial...
View Article401(k) Series: Where should I invest my 401(k)?
What are my options? When investing in your company’s 401(k) plan, your employer and plan provider (remember them from the 3 P’s of your 401(k)?) work together to create your investment lineup, which...
View Article401(k) Series: When should I start investing in my 401(k)?
Assume you have 2 options to invest in your 401(k): Invest $5,000 a year for 40 years Invest $10,000 a year for 20 years Let’s also assume with either option, your savings will grow at 7% each year. At...
View Article401(k) Series: Why should I invest in my 401(k)?
In addition to being a tax advantaged account, there are two big benefits to using your 401(k) to save for retirement (as opposed to letting your money sit in your bank account). First, your employer...
View Article401(k) Series: What is my 401(k)?
The basic idea of a 401(k) plan is that it allows you to set aside money from your paycheck into an investment account that will grow by earning interest over time. 401(k) plans typically offer a...
View Article401(k) Series: Who are the parties involved in my 401(k)?
The first thing you need to understand about your 401(k) are the different parties that are involved – the 3 P’s! There are three key players in a 401(k): The participant – that’s you; the plan sponsor...
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