Smart401k Blog

Over the next few weeks, tens of thousands of young adults will put on a funny looking hat, walk across a stage and receive a college diploma. Bright-eyed, bushy-tailed and ready to take on the world, some of these graduates will move on to additional education. Some will take their first steps into full-time employment. Others will pause to take a look at life and try figure out what comes next.

Whichever boat you’re in (or your children, grandchildren, nieces or nephews are in), it’s never too early to start thinking about how you’ll advance your career and work toward the lifestyle and retirement you’ve always wanted.  (more…)

You’re faced with the task of amassing a large sum of money. You’ll need enough savings to provide an adequate income stream to cover your expenses throughout retirement.

For some people, saving for retirement is daunting because accumulating a retirement nest egg seems impossible. All too often, this leads people of all ages to delay saving. I’ll start saving when I have more money to save.

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The news has been filled with stories about debt. Some of us have bitten off more than we can chew.

Lots of families and individuals (and companies and governments) are awakening from a spending frenzy that, in some cases, was decades-long. Now we’re trying to shape up and settle up. If you’re in that boat, how do you balance your debt repayment strategy with your retirement savings strategy? (more…)

Several weeks ago, I received my annual Social Security statement and was intrigued. (The statement basically shows how much you’ve earned each year since you started working.) A part of the Q&A section on the first page caught my eye: Will Social Security still be around when I retire? (more…)

I recently received a call from John Smith (I changed his name to protect his privacy). John had stopped contributing to his 401(k) about five years ago, and he called us while researching whether he should resume contributions. John wanted me to sell him on the idea that he should contribute again to his retirement plan – so I did. I want to share our conversation because I know there are many other people out there in John’s shoes who have settled for inappropriate funds or given up investing out of frustration.

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Since the day I started working in the financial industry, there has been one question that seems to come up more than the rest. I hear it from family, friends, friends of friends and even complete strangers. The question is this: “I haven’t done anything to start saving for retirement, is it too late?” Whether the person asking is 30 or 50, the answer is always the same – NO!!! And if you haven’t already started, it’s more important than ever to get started now.

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