What is a 401(k) and, more importantly, why should you care? Since this type of investment account first arrived on the retirement planning scene almost four decades ago, it's grown into the most used employer-sponsored retirement plan in the country. More than 52 million Americans have 401(k) accounts, together holding $4.8 trillion in assets as of 2016, according to research from the Investment Company Institute.
These flexible plans can make saving for retirement easier. Read on to learn what our 401(k) advisors think everyone should know about 401(k) plans.Read More
If you are like many Americans who have not yet retired, you may be actively striving to get to a place in life where work becomes optional. With so many people focused on eventual retirement, and a number of tools to help you get there, why does getting to retirement seem to be such a challenge?
Premier’s team finds that there are a number of obligations and expenses that are competing with an investor’s commitment to save and invest. Here are some of the common items we find that prevent investors from saving more, in no particular order:Read More
Clients often come to our 401k advisors with questions about their accounts. It's understandable; with all of the retirement plan options out there, it's easy to have questions about which strategies are the most effective.
Read on to discover the 7 things 401k advisors wish every investor knew about 401k plans, so they could make the most of this investment tool.Read More
Often people ask our retirement plan advisors: "What is the best way to invest in my 401(k)?"
While many companies provide 401(k)s as a benefit to their employees, the frequency that we hear this question is alarming. This question underscores that many 401(k) participants haven't had enough education from their 401(k) plan providers to know how to fully participate - but the stakes couldn't be higher. Once you have worked through your higher income years and reached retirement you will not get a 2nd chance. Either you will have prepared properly - or not. In our opinion, however,
As pensions go extinct, more Americans turn to individual retirement accounts to prepare for their golden years. One of the most popular is the 401(k), an employer-sponsored plan that allows workers to save a percentage of pre-tax dollars from paychecks.As of 2014, 401(k) plans were the most popular type of retirement savings, representing about 18 percent of the retirement plan holdings in the U.S., according to the ICI. But while 89 percent of workers at large companies (500+ employees) have access to employer-sponsored 401(k) plans, only 45 percent of businesses with <100 employees offer 401(k) plans, and only 16 percent of business with <10 employees offer 401(k)s. Overall, that translates into only about half of Americans with access to workplace retirement plans.
Here's how small businesses can benefit from offering 401(k) plans to their employees.
Is your 401(k) in good shape? Is it properly allocated? Does your plan mitigate your tax burden? Do you have the right blend of growth and income?
For many investors, a 401(k) retirement plan is easy to simply set and forget. It's not difficult to see why; managing a 401(k) plan with the proper knowledge or time can be intimidating. However, your retirement depends on this important account's performance, so it's important to maximize your 401(k)'s potential for returns.
Read on to discover 9 ways to strengthen your 401(k).
For many, a 401k account is an important part of their comprehensive financial plan. Since employers usually sponsor 401k plans, it can be easy to "set it and forget it"... but like any other retirement plan, 401k plans require regular evaluation to ensure they're working hard for you.
Our retirement plan advisors share tips on evaluating your 401k.
Financial Strategies: Always Know What You're Paying in Fees
How much are you paying in 401k fees? IfRead More
Are you holding your employer's stock in your 401k retirement plan? If your retirement account contains your company stock, you're not alone: about 46 percent of eligible employees hold their employers' stock, and one in five large companies invests employees' retirement money in its own stock, says Bloomberg.
Including your employer's stock in your 401k plan might not seem like such a big deal — especially if almost half of eligible employees are doing it — but the potential inherent risks have lead some wealthRead More
What financial strategies should you focus on when investing in a 401(k) retirement plan?
In this article, we continue the conversation, started in Ask a 401(k) Advisor:7 Keys to 401(k) Success - Part 1, to explore the other areas, we feel, are essential to having a successful 401(k) experience.
5. What is Your Risk Tolerance?
There is risk in virtually every activity, meaning it is impossible to eliminate risk entirely from our lives. The best we can do is manage the risk to which we expose