You probably know by now that you can build a sizable pool of savings if you take part in your company's 401(k) retirement plan. And guess what? Enrolling in a 401(k) is usually so easy.
One of the many great things about 401(k) plans is that your assets are usually “portable” when you leave a job, meaning you have the ability to take your benefits with you. But what should you do with that pool of retirement assets when the time comes?
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When you build a 401(k) portfolio, one of the first decisions you will make is choosing how much of your money you want to invest in stocks vs. bonds. The right answer depends on many things, of course, including your experience as an investor, your age, and the investment philosophy you plan on using.
During a volatile market, your portfolio’s risk profile can change dramatically so it is important to think about a proactive rebalancing strategy to keep your asset mix at the desired levels.
No one wants to see the retirement savings they worked for take a severe hit when the markets go south. But markets do go down, sometimes pretty dramatically. The truth is that these downward movements are inevitable for long-term investors.
These important products can, of course, enhance any personal portfolio with the addition of environmentally sustainable investments. But more than that, impact investing vehicles can provide a way for investors to earn returns and make a difference in the environment through their retirement accounts.
There is admittedly no more important employee benefit than healthcare insurance, but your 401(k) plan follows immediately after it. And we believe that now is the ideal time to start contributing if you have not done so, increase your contribution amounts if you are already participating, and consider investing in more aggressive options if you have a long time to go before retirement.
Among the most important — and perhaps most intimidating — decisions you must make when you participate in a 401(k) plan is how to invest the money you are contributing to your account. The investment portfolio you choose determines the rate at which your account has the potential to grow and the income that you will be able to withdraw after you retire.
When it comes to retirement planning, it is never too early to start saving. Unfortunately, it is never that easy either. It is normal to procrastinate a bit when you are focused on bills that are due today and the things you want right now.
