Yes, the market is down. A lot. One of the most common questions we’re getting from clients is what they should do with their 401(k) contributions and investments. You have several choices. Here’s a rundown of the pros and cons of each. Option #1. Stay the course As hard as it may be to stomach […]
Tag Archives | 401(k)
Digital 401(k) Statements Save Trees, But You Still Have To Read Them
Most employers nowadays are eco-friendly. Instead of mailing you a quarterly 401(k) statement, like they did in the old days, they email the statement to you or make it available to you digitally through a workplace portal. We’re all for saving trees. But, any statement, whether emailed or paper, doesn’t do you any good if […]
More Americans Topping $1 Million Dollar Retirement Account Balances
A record number of Americans have accumulated $1 million or more in their 401(k) or IRA savings accounts, according to Fidelity Investments, which oversees 30 million retirement accounts. The number of workers with $1 million or more in their 401(k) rose from 200,000 to 233,000, due to market gains and new account contributions. The number […]
Do You Have Too Much In Stocks? Fidelity Warns Boomer Investors to Check Allocations
Fidelity just issued an interesting report warning baby boomers that they may have too much invested in stocks in their 401(k)s. It’s been a long bull market and the market has given investors a good ride. But good times don’t last forever, warns Fidelity, so now may be a good time to consider dialing back […]
Hey 401(k) Savers: You Can Contribute More In 2020
Good news for 401(k) savers! The IRS says you can contribute more to your 401(k) in 2020. Under 50? The savings limit will increase from $19,000 this year to $19,500 next year. Age 50 or over? The limit goes up from $25,000 to $26,000. Make sure to tell your employer to change your payroll deductions […]
Got A 401(k)? See If It Offers These Special Perks
Got a 401(k)? About one-third of all Americans do. But you may not be aware that not all 401(k)s are created equal. People are often surprised to learn that many plans do not offer all the perks and benefits permitted under IRS rules. That’s because employers are allowed to pick and choose the features they […]
401(k) Secrets You Need To Know
There’s a dirty little secret about 401(k), 457, 403(b) and other retirement plans you may not know. They don’t have to offer you all the tax-saving provisions allowed under law. These include perks like stretch distributions, plan loans, rollovers into and out of the plan, “still working” exceptions and in-service distributions. You may not always […]
Did Your 401(k) Take A Beating In 2018?
Across America, many workers got an unpleasant surprise as they opened their December 401(k) statements. Instead of going up, their investments took a dive. Even those who invested in fairly conservative 2025 target date funds, designed for workers nearing retirement, found their accounts looked battered after December’s bruising market shakedown. “Stocks and bonds, both domestic and […]
Time To Increase Your 401(k) Contributions!
It’s the New Year! If you’re working, don’t forget to increase your 401(k) contributions to reflect 2019’s higher limits. You can now contribute $19,000 per year to your 401(k) if under age 50, and $25,000 per year if 50 or over by the end of 2019. Plus, you can add about $10/week extra to your Traditional […]
Growing Your 401(k) Faster
Want to make your 401(k) grow faster? Here’s a simple tip. Each time you get a raise, bump up your retirement contributions by 1 to 2 percent of salary, until you reach your target savings rate of 10 to 15% of gross income per year. If you’re already maxxing your 401(k), stuff extra savings into […]
Subscribe to FREE Updates
Stay informed about financial planning and investing issues that impact your life today and tomorrow! (we respect your privacy)
About Mari Adam, CFP®
Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for twenty five years. Mari has appeared in publications such as Business Week, CBS MarketWatch, Wall Street Journal, Kiplinger’s, Newsweek, and Money Magazine.
