Merkle Retirement Planning – Taking Control of Your 401K

Updated : Sep 02, 2019 in Articles

Merkle Retirement Planning – Taking Control of Your 401K


YOU ARE WATCHING IOWA LIVE ON CW IOWA LIVE 23. GOOD MORNING EVERYBODY. LET’S TALK ABOUT RETIREMENT. WE ALL WANT TO GET THERE AT SOME POINT, BUT WE WANT TO MAKE SURE WE ARE UTILIZING OUR INVESTMENTS IN THE RIGHT WAY. SO EXCITED TO HAVE MARKLE RETIREMENT JOINING US IN THE LIVING ROOM. WE ARE TALKING 401(K)S. SOMETHING PROBABLY EVERYONE CAN RELATE TO AND MAYBE DON’T ALWAYS THINK ABOUT IN THE RIGHT WAY OR CHECK IN OFTEN ENOUGH. BREAK DOWN HOW WE CAN TAKE CONTROL OF OUR 401(K) THIS MORNING. Guest: 401(K)S ARE CONVENIENT AND EASY. KIND OF A SET IT AND FORGET IT TYPE OF INVESTMENT. WHEN YOU ARE FIRST ELIGIBLE YOU SIGN UP WITH YOUR EMPLOYER. HE SAID THE CONTRIBUTION EACH PAY PERIOD AND YOU DON’T THINK ABOUT IT. COUPLE IMPORTANT THINGS TO TAKE INTO CONSIDERATION. ONE, WHILE YOU ARE EMPLOYED WITH AN EMPLOYER AND ACTIVELY CONTRIBUTING YOU WANT TO MAKE SURE YOU’RE STAYING ON TOP OF YOUR RISK TOLERANCE AND APPETITE RISK BECAUSE I CAN CHANGE THROUGH MARKET CYCLES. MAYBE GETTING CLOSER TO RETIREMENT AND YOU WANT TO DIAL THE RISK DOWN A LITTLE BIT. WE HAVEN’T SEEN A RECESSION IN 11 YEARS. Lou: WE TALKED ABOUT THAT, RIGHT. Guest: MAYBE NOW’S A GOOD TIME TO DIAL DOWN THE RISK IF YOU’RE GETTING CLOSE TO RETIREMENT. JUST EVALUATING WHERE YOU ARE. THAT’S KIND OF IMPORTANT THING TO THINK ABOUT. Jackie: HOW OFTEN SHOULD YOU CHECK IT? I SENT IT AND FORGET IT. HOW OFTEN SHOULD WE BE CHECKING? Guest: AT LEAST ONCE PER YEAR. AS THINGS CHANGE, IF YOU ARE NEARING RETIREMENT, OR YOU’RE JUST NERVOUS. YOU WANT TO BE COMFORTABLE WITH RISK YOU ARE TAKING. Lou: WHEN SHOULD A FLAG GO UP AND YOU SIT DOWN TO TALK TO SOMEONE? MONTHLY STATEMENTS AND 401(K). ANYTHING IN PARTICULAR YOU NEED TO KEEP AN EYE ON SAYING I SOMEBODY? Guest: WE LOVE TO CELEBRATE HOUSE BIRTHDAYS. IF YOU’RE NEARING 59 AND A YOU PROBABLY HAVE THE OPTION OF TAKING CONTROL OF YOUR 401(K) AND PUT IT INTO AN IRA. THE REASON WE THINK IT’S SOMETHING YOU SHOULD EXPLORE IS BECAUSE THE INVESTMENT OPTIONS YOU HAVE AVAILABLE TO YOU WITHIN THOSE EMPLOYER PLANS ARE PRETTY LIMITED. MOST LIKELY MUTUAL FUNDS WHICH CAN SOMETIMES BE EXPENSIVE AND NOT EFFICIENT WHEN IT COMES TO TRULY DIVERSIFYING YOUR PORTFOLIO. IF YOU’RE GETTING CLOSE TO 59 AND A HALF AND YOU HAVE THE OPTION TO ROLL THE MONEY OUT AND DO AN IN-SERVICE DISTRIBUTION, THAT’S NOT USUALLY A BAD IDEA.

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