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The market goes.
We gotta talk about what's gonna happen with your 401K because well nobody knows unfortunately because we don't have tax we don't have any kind of certainty in the market we hadn't happened we knew -- it ended the year coming and is still some time to make some changes.
It's got a -- samples with a straight now mascot you have -- pretty cool product rate it is cold.
Marvel wanted outcome more form that I -- OKC is CEO president yeah.
Created this product that basically allows needed just over analyze my 401 -- Yeah I'd say it's a service so it's a web this financial advice service him.
So we -- tell you how to invest over the web but we also the team of advisors that you can call ask questions and -- -- was.
Actually get a recommendation which is based on your situation so.
You know what -- time horizon is what you're investment goals and and really what your risk tolerances Scott -- you guys independent or are you part -- not part of.
Any of the big fund companies that were completely independent swing at that the only yeah the only -- week we accept is the fear that you would pass or your -- -- -- And we don't accept knife commissions or or revenue from any phone companies I think is -- on I don't have to do it through my company cracked and then you import mind -- information.
Yeah I was import it yet so very similar to get any other purchase that you do on the web you go to registration process you answer -- question there.
And then you give us the funds that you're available at that are available in your plan.
And then we analyze the funds we look at your situation and we combine the two that come up with a recommendation that's that's -- -- -- I think it's a really cool idea because a lot of people.
There's a lot of inertia in borrowing cake selection can you -- -- selections in the beginning I think good he asked -- some relative that you think knows what they're talking about and you haven't done anything since I will tell you.
I did exactly that extra -- and -- a relative I threw all my stuff in the you know one of those.
Equity bond funds that changes as -- well he's done exactly as they get older and it's gonna -- for me.
And that -- -- complete wastes as we know -- you mean who want to be what some bond these days.
And I'm probably in.
60% funds which is where -- -- should -- -- -- I think a lot of people approaches a set it and forget it investment.
Yeah they made one investment.
One investment decision ten years go by they haven't -- out again this is something need to be actively engaged him.
And and so you need to figure out what your goal and so what you wanna do and time.
You know what how much you need to say to -- -- retirement goal and then how you gonna invest to -- -- time out with common -- There's also basing your personality so if you're conservative industry should be investing conservatively.
They're aggressive -- you know invest -- -- aggressively.
But I think one of the things that that we do as we figure out what your personality type -- we look at the funds we combine -- -- And then whenever whenever you have any questions you can reach out to us that's anything new this is all via the web itself -- and then found -- so you can call our advisors can you know advisors have a live chat.
But I originally initially fill out a questionnaire online yet.
Take a long time -- a lot of times I think that's really.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And if you have any questions on the -- on and on demand service so rather than schedule an appointment are waiting for somebody come in the office.
It's something you can pick up the phone obscenity now how to live chat right definite what's -- It's -- -- here or 59 on the court.
Irregardless thereabouts so if you didn't invest in your account from ten or fifteen years.
I have a nice balance it's still tuner box measure count -- it's it's the same price.
-- the flip side the ability to access your 401K on the web these days that people treat it.
You can trade it you can j.'s gold and missed the ride you can -- I mean people make those mistakes too so.
On the on that other side of respect India help as well -- -- can I call you on a weekly basis and trade with him.
You can you can call as much you want what we do discourage those as active trading trial I think it's one of the most common mistakes people make as.
When they made that one investment decision or they actively trade it's okay well what did best last year what the best this week.
And really that's -- I think creates a lot of problems because -- You know what what did best last week is eventually gonna have about a week in and -- hurt you if you're if you're trading that actively adored you is is trying to do a long term perspective on things.
People do not put enough for their -- in case and I say it all the time and admit you should put in up to your company's -- It's just I don't get it but a lot of people are under the listen I think misnomer that if you take 6% out of my paycheck I won't be able to make rent yet.
But it's pretax and it really isn't six percents.
Yeah as an addition I think a lot of people stop at the company match but generally our general -- is not going to be enough to help you reach your retirement goals so I think that's.
-- 6% ended that 6% would you know 34% company match right what's so I think it's critical to figure out you what your expectations for a time.
You know what that is -- and tell us how much money unions say it.
And then and then look at your contribution rates and make sure you get the company match and then you you're probably gonna happen need to go above and beyond.
And you generally just don't take -- if he he.
You -- I've done the exercise of -- and how much money and you -- that -- -- and I'd like to throw up because there's more zero's of end of that number and then you become.
Disheartening to say you know what I'm never gonna make -- -- about -- We'll have you you -- you calculate the number have you calculated what you're progressing towards and I walked away from they actually -- You're right you're playing.
-- my kids.
Did you don't know that you might be -- enough to reach those.
-- I think it's critical that not only have that goal but to monitor how you're you're progressing towards -- isn't his mistakes people make.
I think the first one is is not knowing I'm not a -- so if you don't know where you're going.
I gonna get there the second is you randomly selecting investments when you make that person that's an election when I wanted to -- friends and engineer very Smart guy.
He's had three jobs she's made three investment decisions in his life and so I think it's being engaged here count -- account and a rebalancing are looking two to four times a year.
We do our quarterly market and economic analysis and then notify our our clients to to make the changes that we recommend.
And and I think it's just -- general -- general thought of staying -- you plan.
The other thing is is don't you know if -- -- down one day don't panic.
This is a long term investment -- you're thinking 203040 years.
And so it's you know it's less important what happens on day to day basis and more are you planning -- working towards your -- How has his whole recession -- affected people on the forum in case because there was a time where people were saying I'm from and statements out -- see it yet back yet still.
We -- even more so from.
Dealing with it yet.
I think a lot of people of questions so that -- downturn where they did throw -- The statement the way they just don't look at that -- out come back a little bit there look at those statements like firewall MI track -- in my investment.
And so were having a lot more conversations -- clients about.
How we prepare recommendations why we haven't been specific funds and so I think it's just you know the silver lining -- there is people are paying attention to house.
And I think that's critical I -- you have nothing yet.
It's -- good has come out of this mess it's made people aware yet it absolutely right.
Scott -- topple president and CEO of Smart borrowing okay dot com is the website can't.
-- stuff in there and getting together you -- -- -- contribution before the end of the year because you probably did not put away enough this year.
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