Also in this playlist...
This transcript is automatically generated
I'd -- you make the most your 401K.
Well look any idiot take it up and that's.
Here with some answers -- -- holes apple president and CEO of Smart 401K dot com.
Scott many people sign up pick a couple choices and leave it.
That's how they should be doing them.
Now it's it's really not and I think what what -- -- setting up and leaving that never looking back as.
A lack of confidence are feeling you are not in control of your 401K or retirement accounts.
And so I think what what you really need to do -- get engaged in that account so the first thing that we'd recommend -- and it may seem simple.
But it's to start saving -- to increase your savings.
And why -- while that might be obvious when you look at the numbers employee benefits research institute recently released a study that showed.
70% of people have less than 50000 dollars saved for retirement so I can understand why don't feel in control -- are confident about retirement savings.
-- I think a lot of Democrats scared off a lot of companies cut back on matching.
And so a lot of people said hey if they're not getting -- I'm not doing it but -- matching has come back.
So at a minimum -- got to contribute up to your company's Mac.
Yeah and that's comment column piece of advice is -- contribute up to your company's match.
But ideally what you should be shooting for about ten to 15% of your income should be going into some type -- retirement account whether it's O four OKR and IRA.
So -- suggests is when you set it up if you don't think you can do more set -- you get the full match.
But then set it up if you have an -- escalation feature or maybe you remind yourself once a year to increase your contributions by that one to 2% in chillier out ten to 15% range.
The auto feature is -- great idea one thing I think people mess up is that they.
-- investments in their 401K.
And they don't take into consideration the -- they hold in other taxable accounts he kinda have to look at as one big portfolio don't -- -- -- Dylan and I think you actually have to think about what your investments are so I think I'd add to your point which is.
He's set to reform came meeting you had a bunch papers -- at the fill out.
And oftentimes -- turning next to the person next June saying you know what are you doing and -- following suit.
Well what the person's doing next to you isn't -- -- right for you are or write at all so we suggest doing is figuring out what type of investor you are.
We have a free -- on our website it's more form cannot -- tells you.
Are you're conservative or an aggressive investor.
And what types of investments you should be thinking about what you're right it's all one big picture and and but for most people do your retirement account or -- -- there's our largest are only.
Us and a lot of it also a website that now -- vanguard again today put your 401K in -- and -- the proper assets one thing people -- to really be worried about though is you know don't turn into a -- trading account.
Thought don't take care -- and a day trading account -- don't think it's a set and forget type investments or your right there are a lot of -- case now -- have the tools that I'll do the investment for you if you don't wanna do it yourself so target date funds will.
You make you more conservative investor -- retiring or -- Clinton and I retiring.
There's also things like advice and -- accounts and money for own case but I'll take into account more of your personal situation so.
If you're conservative investor and aggressive investor refer your age don't -- you slightly different and then -- an ongoing basis.
Yes Scott's great advice and you know especially this time year -- -- their stuff out in doing your tax return pull that out too and look at it.
God willing it's up but makes some good investment choices why you're at -- Scott thanks so much to be on us.
Filter by section