A 401(k) is a powerful investment vehicle. However, there is a lot of misinformation surrounding them. Buying into one or more of these common 401(k) myths may cost you a lot more than you bargained for come retirement. Keep reading for 9 401(k) myths exposed. #1 Your Employer Takes Care of Your 401(k) for You…
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And just like that, we’ve reached the 4th quarter, which means it is time to review where you stand financially. The good news is, there is still time to get your financial ducks in a row before the end of the year with a personal finance checklist. To make this process as easy as possible,…
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What parent conversation is more uncomfortable than the birds and bees? Talking to your adult children about family financial planning. According to a study by Home Instead Senior Care, approximately 80 million Americans neglect to have important end-of-life discussions regarding family financial planning.¹ The study also reports, “Unfortunately, research indicates that 70 percent of conversations…
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People are quitting their jobs in record numbers, and that means many are leaving 401(k)s behind with their old employers. The “Great Resignation” took over the headlines in 2021 – and the trend doesn’t appear to be going away anytime soon. The latest Department of Labor statistics show more than 4 million people quit their…
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Now that I’m focused on retirement once again, I’ve been doing a lot of planning for what’s next. One of the key items on my pre-retirement checklist is ensuring I have the right asset allocation. As I was reviewing my various portfolios, I realized that I could have been a 401k millionaire by 40 had…
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Hello Phil – I found your website by a search for top rated cross border business accountants, and watched a few of your podcast/videos – thanks for sharing such useful information! It gives me a lot of confidence that you can help with our somewhat complicated cross border situation. I left you a voicemail earlier…
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I Changed Jobs. What Should I Do with My 401(k) Account? It’s not uncommon for investors to change jobs and not know what to do with their 401(k) accounts, so they do nothing and leave it behind. Often, 401(k)s are left behind with old employers due to the misconception that the old employer is taking…
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8 Ways to Boost 401(k) Retirement Savings Right Now If you really want to boost 401(k) retirement savings, the obvious solution is to save more. But that’s easier said than done: otherwise, more people would be on track for a better retirement. There’s a retirement crisis in America that’s been brewing long before the pandemic…
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Will Personalized Professional Help Really Make a Difference in My 401(k) Performance? Not taking full advantage of your 401(k) – whether it’s because you don’t understand it or you’re taking a set-it-and-forget-it approach – may have serious consequences at retirement. If you’re concerned your 401(k) is not going in the direction you’d like or you…
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4 in 7 Americans are financially illiterate, according to Walden University – and that’s a serious problem.¹ Financial literacy is understanding financial concepts, including but not limited to budgeting, saving, paying off debt, and investing. Those who demonstrate financial literacy often find it easier to enjoy financial well-being. Not only do these individuals meet their…
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