Episode 20: Surprising Stats About Investing in Your 401k

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Surprising Stats About Investing In Your 401kWith more than 90 million Americans covered by a retirement savings plan (401k/403b/457), it’s even more important to know how to make the best decisions. In this episode, we lay out a few tips by peeling the onion on your retirement plan. We also sprinkle in a few questions that you’ll want to ask your employer concerning your specific plan.

Topics Covered

  • How to Evaluate Your 401k
  • Understanding the Employer Match
  • What are your contribution options and how to know which one is best?
  • Making sense of the multitude of investment options including target-date funds
  • How to determine the cost of your 401k
  • Where to look for your specific 401k/403b plan ratings

Facts and Links Mentioned In the Show

  • 77% admitted to not having the time or investment knowledge to be confident in their investment decisions. [Fidelity Research]
  • About 21% of eligible employees for 401k accounts, don’t contribute to their 401k. [According to Vanguard]
  • Employees miss out on an average $1,336 of employer match each year (2.4% of income missed). [Financial Engines]
  • People who had help with decisions on their 401k earned 3.32% higher median returns from 2006-2012. [Financial Engines]
  • See 401k plan ratings [Brightscope.com]
  • Think Your Retirement Plan is Bad, Talk to a Teacher [NY Times]
  • Demystifying the 401(k) plan investment process [CNBC]
  • Why Your 401k Fees Aren’t Lower [Wall Street Journal]

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