What is the 401(k) Optimizer®?

Let’s just say you have a company-sponsored retirement plan and you have long term goals for it. Months, or even years later, you realize your retirement plan is increasing at a snail’s pace and you’re slightly disappointed in that. This is where the 401(k) Optimizer® could benefit you. This tool is designed to help you optimize your investments within your retirement plan. If you have a 401(k), 403b, or 457 plan, using the tool will let you know when to buy and when to sell through a math-based approach. 

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4 Ways to Keep Your 401(k) Plan Afloat

“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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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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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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Your 401(k) Is Just as Important as Your Health

Our routines and our 401(k) plans have collectively experienced the impact the COVID-19 pandemic has had on the world. While it has shared similarities as other past pandemics, this one might as well be considered the most socially shocking. Financially, we can absolutely recover as we have done many times in the past. Taking this pandemic day by day opens up the discussion of our futures. Are we as prepared as we believe ourselves to be?

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