“What’s a 401(k) plan and why would I need one?” Each of us has asked that question at some point in our lives. After enrolling in a company-sponsored 401(k), it is too often we move on with our daily routines and put our plans on the back burner. A retirement plan is designed to help you live comfortably when you’re ready to exit the working world and begin a new chapter in life. For some, retirement means peace by the beach. For others it means traveling, personal projects, or more time with family. However, neglecting your retirement plan in your younger years wouldn’t be doing it any favors. Which is why you should learn how to keep your 401(k) plan afloat when life and the market takes unexpected turns.
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The S&P 500 is Stayin’ Alive
As seen in this week’s Wealth Watch…
The S&P 500 sent all investors a golden ticket to an upcoming bull market disco. As of recently, The HCM-BuyLine® received its own invite while donning its finest medallion and silver bell bottoms. Over 5 trillion dollars continues to burn a massive hole in everyone’s pockets, leaving them with the same anxiety a mother experiences before a Black Friday event. The one day out of the year (un)athletic shoppers are given the opportunity to prove their spending habits should be considered an extreme sport.
Benefits of Company-Sponsored Retirement Plans
401(k) retirement plans are frequent conversation topics, but are we aware of all they have to offer? If you already have an employer-sponsored retirement plan, you might not fully grasp how these plans work. The more we know about our 401(k) retirement plans the better. About 80 million workers contribute to their retirement plans, which has led to about $5.7 trillion in assets held for 401(k)s in the United States. 401(k) retirement plans do not have to be confusing for plan holders, especially with the many guiding resources which are easily accessible. We’re going to take it back to the basics, and ask, “What is a 401(k) retirement plan?”
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The HCM-Buyline® Cheers On Investors
In this week’s Wealth Watch…
The HCM-Buyline® is a very supportive soccer mom during these harsh times. Investors are buying like the dickens so markets sit oversold and in need of a good spa day. The rest of the world is in need of a good spa day, actually. On a positive note, the turtle population seems to be going strong. The same cannot be said about the manatees, however. If sea life could invest, eco-friendly straws and compostable trash bags would be oversold, but let’s not get ahead of ourselves.
Speaking of the S&P 500, a number of stocks have been slapped around but everyone has their fingers crossed they’ll bounce back like Winona Ryder’s career after that awkward shopping incident. Everyone needs a little break from time to time, including unemployment.
3 Ways 401(k) Retirement Plans Benefit You
Even if you’ve started saving for retirement a little late, it doesn’t mean any future efforts to save will be deemed obsolete. If your company offers to contribute to your retirement plan, it’s highly recommended to take them up on their match, as your investments have greater opportunity to grow and compound over the years. It’s an employer’s fiduciary responsibility to have your best interest in mind when offering a company-sponsored retirement plan.
Every company is different, but your contributions can be matched dollar per dollar, or perhaps 50 cents to the dollar, which means free money for your future. Volunteering to get started on a 401(k) is a financially responsible decision for retirement planning, and a handful of benefits coincide with contributing to the investment plan. Here are a simplified few for starters:
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The Importance of Asset Allocation in Your Portfolio
Asset allocation refers to the spread of investments across a mixture of assets including stocks, bonds, cash or marketable securities, securities that can quickly be liquidated to cash when necessary. Gains in investments have the potential for additional optimal growth when they are housed in fruitful environments. However, the stock market can be temperamental and investments may thrive for a certain amount of time then flatline due to unforeseen circumstances. The process of switching funds to alternate locations is called rebalancing, which lives under the same roof as asset allocation.
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