Give Your 401(k) an End of Year Makeover
We believe every 401(k) plan needs a little investment "touch up" every now and then. This week, consider reviewing your plan and see if there are any adjustments to your strategy that can be made. But first, how do you know if you might need to make adjustments? We believe the first step when reviewing your 401(k) should be to have a clear picture of what your retirement goals are. Ask yourself questions like, how will I spend my time in retirement? When do I want to retire? Where do I want to live? Once you have an understanding of your objectives and concerns, we believe you can begin to focus on the financial goals and strategies for saving and investing that can help support the retirement you've defined.
Just One Thing You Can Do This Week
Check in on your 401(k) plan to ensure the underlying strategies are in line with your retirement goals.
As 2013 comes to a close, work with your financial advisor to check in on your 401(k) and make sure that the investment strategies still align with your retirement goals. We believe even one small change to your plan may help better position your investments to keep your plan on track toward the retirement you envision. Here are a couple of conversation starters you can bring to your financial advisor to start "touching up" your 401(k):
- Can we review my lineup and ensure it is still moving me toward my retirement goals?
- Do my investments match my willingness to take risk?
- Should I consider making my saving automatic?
- Does my contribution rate make sense for me? Should I consider increasing it?
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