401K Investing & Your 401K Advisor
When you are reviewing your 401k investing, your 401k advisor should help you with making the best investment choices within the 401k plan. Your 401k advisor should review your investment choices based on your personal time lines and risk tolerance levels. Your 401k advisor should help you determine if you are investing enough for your retirement. And if you are not investing enough, where can you find more to invest – or where can you cut expenses so you have more to invest. Remember, the only thing that will be there when you get there is what you sent ahead.
Your advisor should review for the allocation of the assets within your accounts. Are your assets diversified? You need to work on diversifying your assets if they are invested in just one type of asset class or in a fixed fund earning below the inflation rate. Saving is different for investing. Saving means just putting it away. Investing means monitoring, growing, dollar cost averaging, re-balancing and making adjustments to the account if necessary. Retirement income planning is a form of investing not saving.
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