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Secrets of the 401(k) Millionaires

by on January 30, 2012

If you participate in a 401k with employer match, you’re in a good position.

My opinion- what is missing from 99.9% of 401k’s is the value of an adviser- education and coaching. How many of us have started working for an employer and been referred to a third party benefits website with no guidance about how to determine an income goal in future dollars terms, how to calculate the required annual savings amount in current dollars, a workable asset allocation model, good behavior and discipline during market ups and downs, how to handle rollovers/transfers during a change of employer, etc? EVERYONE!

The biggest points of successful investing can be boiled down to three investor behaviors- actually putting money away now instead of waiting until later to start (time in the market), staying in the market when the bottom appears to drop out so you can ride the next upswing (dollar cost averaging), and broad asset allocation (diversification). Need an adviser? Drop me a line!

http://www.smartmoney.com/retirement/planning/secrets-of-the-401k-millionaires-1326152038448/?link=SM_plan_middle_optStory

From → Wealth

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