Smart401k Blog

This post is part of Smart401k CEO Scott Hollsopple’s contribution to the U.S. News & World Report Smarter Investor blog series. To view the original article, click here. Original post date February 28, 2012.

In my industry, we do a lot of measuring.

Of course, that’s a good thing because we need to know whether the retirement planning industry is helping investors move toward their retirement goals. That being said, some measurements are more valuable than others.

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Photo Credit 401k

I’ve had several recent conversations about the lackluster performance we saw from most sectors last year.

Discussions start with someone expressing frustration about slow investment growth, and they devolve into a round of Twenty Questions about big returns.

In retirement investing, there will be up years, down years and flat years. I know it’s easy to become frustrated like these folks. However, when you start to feel blinded by a hunger for big growth, I encourage you to read through this particular set of posts from the Smart401k blog rather than seeking information about the next big thing. And think about this investment:

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Photo Credit Alan Levine

Recently I went on a quest to find a new gym. After some research, I found a place I thought was a good match. The winning gym was close to my home, relatively new and, most importantly, they offered a monthly membership for just $14.95.

The next day, I merrily drove to the gym and sat with account associate to sign up and hit the gym. But reading the fine print, I was shocked to see how various fees moved my monthly fee from $14.95 to an average of nearly $30 a month.

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Photo credit Rob Crawley

With all the talk in Washington about budget issues and debt reduction plans, changes to 401(k) plans and retirement savings are occasionally thrown into the mix as political talking points. Recently, an article detailing the Senate Finance Committee’s upcoming hearing on proposed changes to retirement programs caught the attention of one of our blog followers, and they asked us to weigh in with our opinion.

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Most articles about retirement planning focus on you – the future retiree. Oftentimes authors also discuss how spouses’ retirement savings will interact in a retirement strategy. Have you ever thought about how your retirement savings decisions will affect everyone else in your life?

Think about all your family, and even your friends. Your financial situation during retirement could be part of their lives too.  (more…)

We often hear from people who are changing jobs and want to know what to do with their 401(k) savings. When you separate from your employer, what’s the best move for your retirement account? (more…)

An article in the May 23, 2011, edition of MarketWatch digs into the root causes of the problems retirees are facing.

SAN FRANCISCO (MarketWatch) — The idyllic, play-golf-and-travel vision of retirement may well be a thing of the past. Most new retirees are either nervous or downright frightened about their golden years, according to a new study.

Uncertainty about the future, fear of poverty, lack of confidence in their investing abilities, and distrust of the financial-services industry were four of the most common feelings expressed by 300 recent or soon-to-be retirees in interviews conducted between 2008 and 2011 …    (more…)

Prior to my post-babies return to the full-time workforce, saving for retirement wasn’t at the top of my mind or my to-do list. Now that I dedicate so many of my waking hours to helping others learn about retirement planning, I just can’t stop thinking about how very important it is.

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Spring is here and that means it’s time to start preparing for those summer vacations.

But with rising gas prices, traveling long distances by car or airplane is becoming more expensive. The concept of a staycation – otherwise known as a stay-at-home vacation – isn’t new, but it’s seen resurgence during the past few years. Cutting back and saving money doesn’t have to be a downer.  (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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